Leases; Foreclosure. Any proceedings or other steps taken by Beneficiary to foreclose this Deed of Trust, or otherwise to protect the interests of Beneficiary hereunder, shall not operate to terminate the rights of any present or future tenant of space in the Improvements, notwithstanding that said rights may be subject and subordinate to the lien of this Deed of Trust, unless Beneficiary specifically elects otherwise in the case of any particular tenant. The failure to make any such tenant a defendant in any such foreclosure proceeding and to foreclose such tenant’s rights will not be asserted by Grantor or any other defendant in such foreclosure proceeding as a defense to any proceeding instituted by Beneficiary to foreclose this Deed of Trust or otherwise protect the interests of Beneficiary hereunder.
Leases; Foreclosure. Any proceedings or other steps taken by Mortgagee to foreclose this Mortgage, or otherwise to protect the interests of Mortgagee hereunder, shall not operate to terminate the rights of any present or future tenant of space in the Improvements, notwithstanding that said rights may be subject and subordinate to the lien of this Mortgage, unless Mortgagee specifically elects otherwise in the case of any particular tenant. The failure to make any such tenant a defendant in any such foreclosure proceeding and to foreclose such tenant’s rights will not be asserted by Mortgagor or any other defendant in such foreclosure proceeding as a defense to any proceeding instituted by Mortgagee to foreclose this Mortgage or otherwise protect the interests of Mortgagee hereunder.
Leases; Foreclosure. Any proceedings or other steps taken by Mortgagee to foreclose this Mortgage, or otherwise to protect the interests of Mortgagee hereunder, shall not operate to terminate the rights of any present or future tenant of space in the Improvements, notwithstanding that said rights may be subject and subordinate to the lien of this Mortgage, unless (subject to the terms of any SNDA now or hereafter executed by and between Mortgagee and a particular tenant) Mortgagee specifically elects otherwise in the case of any particular tenant. The failure to make any such tenant a defendant in any such foreclosure proceeding and to foreclose such tenant's rights will not be asserted by Mortgagor or any other defendant in such foreclosure proceeding as a defense to any proceeding instituted by Mortgagee to foreclose this Mortgage or otherwise protect the interests of Mortgagee hereunder.
Leases; Foreclosure. Any proceedings or other steps taken by the Mortgagee to foreclose this Mortgage, or otherwise to protect the interests of the Mortgagee hereunder, shall not operate to terminate the rights of any present or future Lessee under any of the Leases, notwithstanding that said rights may be subject and subordinate to the lien of this Mortgage, unless the Mortgagee specifically elects otherwise in the case of any particular Lessee. The failure to make any such Lessee a defendant in any such foreclosure proceeding and to foreclose such Lessee's rights shall not be asserted by the Mortgagor or any other defendant in such foreclosure proceeding as a defense to any proceeding instituted by the Mortgagee to foreclose this Mortgage or otherwise to protect the interests of the Mortgagee hereunder. In addition, the Mortgagee shall have the right to subordinate this Mortgage and its rights hereunder to any Lease which is subject and subordinate to this Mortgage, except that the Mortgagee shall be entitled to expressly exclude from such subordination the Mortgagee's rights to insurance proceeds and Condemnation awards as set forth herein and in the Loan Agreement.
Leases; Foreclosure. Any proceedings or other steps taken by Lender to foreclose this Security Instrument, or otherwise to protect the interests of Lender hereunder, shall not operate to terminate the rights of any present or future lessee of space in the Real Property, notwithstanding that said rights may be subject and subordinate to the lien of this Security Instrument, unless Lender specifically elects otherwise in the case of any particular lessee. The failure to make any such lessee a defendant in any such foreclosure proceeding and to foreclose such lessee’s rights will not be asserted by Borrower or any other defendant in such foreclosure proceeding as a defense to any proceeding instituted by Lender to foreclose this Security Instrument or otherwise protect the interests of Lender hereunder.
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Leases; Foreclosure. Any proceedings or other steps taken by Grantee to foreclose this Deed, or otherwise to protect the interests of Grantee hereunder, shall not operate to terminate the rights of any present or future tenant of space in the Improvements, notwithstanding that said rights may be subject and subordinate to the lien and security title of this Deed, unless Grantee specifically elects otherwise in the case of any particular tenant. The failure to make any such tenant a defendant in any such foreclosure proceeding and to foreclose such tenant's rights will not be asserted by Grantor or any other defendant in such foreclosure proceeding as a defense to any proceeding instituted by Grantee to foreclose this Deed or otherwise protect the interests of Grantee hereunder.
Leases; Foreclosure. Any proceedings or other steps taken by the Beneficiary to foreclose this Deed of Trust, or otherwise to protect the interests of the Beneficiary hereunder, shall not operate to terminate the rights of any present or future Lessee under any of the Leases, notwithstanding that said rights may be subject and subordinate to the lien of this Deed of Trust, unless the Beneficiary specifically elects otherwise in the case of any particular Lessee. The failure to make any such Lessee a defendant in any such foreclosure proceeding and to foreclose such Lessee's rights shall not be asserted by the Grantor or any other defendant in such foreclosure proceeding as a defense to any proceeding instituted by the Beneficiary to foreclose this Deed of Trust or otherwise to protect the interests of the Beneficiary hereunder. In addition, the Beneficiary shall have the right to subordinate this Deed of Trust and its rights hereunder to any Lease which is subject and subordinate to this Deed of Trust, except that the Beneficiary shall be entitled to expressly exclude from such subordination the Beneficiary's rights to insurance proceeds and Condemnation awards as set forth herein and in the Loan Agreement.
Leases; Foreclosure. In the event of a default under this Mortgage, Lender, at Lender's option, is authorized to foreclose this Mortgage subject to the rights of any tenants of the Mortgaged Property, and the failure to make any such tenants parties defendant to any such foreclosure proceeding and to foreclose their rights will not be, nor be asserted to be by the Borrower, a defense to any proceedings instituted by the Lender to collect the Indebtedness or any deficiency remaining unpaid after the foreclosure sale of the Mortgaged Property.
Leases; Foreclosure. In the event of a default under this Mortgage, which default remains uncured after the expiration of any applicable cure period, Mortgagee, at Mortgagee’s option, is authorized to foreclose this Mortgage subject to the rights of any tenants of the Mortgaged Property, and the failure to make any such tenants parties defendant to any such foreclosure proceeding and to foreclose their rights will not be, nor be asserted to be by Mortgagor, a defense to any proceedings instituted by Mortgagee to collect the sums secured hereby or any deficiency remaining unpaid after the foreclosure sale of the Mortgaged Property.
