Common use of Lender Protection Clause in Contracts

Lender Protection. Notwithstanding anything herein to the contrary, Tenant shall not have any duty to send any notice referred to in Sections 21.2.1 or 21.2.2 to any Holder who does not by written notice to Tenant specify the address to which copies are to be sent. All notices and copies of notices required to be sent or delivered pursuant to Sections 21.2.1 or 21.2.2 shall be sent in the same manner as notices otherwise are to be sent under the terms of this Lease. Any Holder’s address for receipt of notices may be changed by written notice to Tenant. 21.2.1. Tenant shall send to all Holders a copy of all notices of default sent by Tenant to Landlord. 21.2.2. Notwithstanding anything to the contrary contained in this Lease and subject to any limitation on Tenant’s rights to terminate this Lease otherwise contained herein, Tenant may seek to terminate this Lease pursuant to any express provision herein contained only after Tenant has sent to each Holder a written notice specifying the reason for such purported termination and: 21.2.2.1. In the event such reason constitutes a failure by Landlord to pay any funds to Tenant or to any other party, no such Holder cures such failure within thirty (30) days after receipt by all Holders of the written notice of default from Tenant; 21.2.2.2. In the event of any other reason which may be specified in this Lease susceptible of being cured by any Holder, no Holder commences within thirty (30) days after receipt by all Holders of written notice of such reason from Tenant the work of curing such matter and pursues the same to completion with all reasonable dispatch. So long as any Holder is proceeding diligently pursuant to any of the provisions of this Section 21.2.2 or is otherwise attempting to remedy the situation giving rise to Tenant’s right to terminate this Lease, Tenant’s rights to so terminate this Lease shall be suspended. Once the Holder has so proceeded, Tenant may not commence any proceeding or other efforts to terminate this Lease without prior written notice to all Holders. Nothing herein contained shall be deemed to require any Holder to continue with any foreclosure or any other proceedings against Landlord’s interest or with efforts to obtain a deed in lieu of foreclosure or, once having obtained possession of the Premises, to continue in possession thereof. 21.2.3. Any Holder shall have the right to perform any obligations of Landlord under this Lease, and Tenant shall accept such performance by or at the instance of any Holder as if the same had been made by Landlord. Subject to the provisions of Section 21.2.2 above, no default shall be deemed to exist under this Lease if proceedings shall in good faith have been commenced promptly to rectify the same and prosecuted to completion with diligence. 21.2.4. The subordination and attornment and lender protection provisions of this Section 21 shall be deemed effective upon execution of this Lease, without any further act of Tenant. Notwithstanding the foregoing, however, Tenant shall from time to time, on request from Landlord, execute and deliver any documents or instruments that may be required by any Holder or proposed Holder to effectuate any subordination or attornment, which shall include commercially reasonable nondisturbance language. If Tenant shall fail to execute and return any such documents or instruments within twenty (20) days after receiving such request: (i) at Landlord’s option, such failure shall be an Event of Default hereunder; and (ii) Tenant shall be deemed to have agreed with the matters set forth therein.

Lender Protection. Notwithstanding anything herein to the contrarycontrary in this Lease, Tenant shall not have sue, seek any duty to send remedy or enforce any right against Landlord until (i) Tenant gives written notice referred to in Sections 21.2.1 or 21.2.2 to any Holder who does Lender and (ii) a reasonable time for such Lender, at its option, to remedy the act or omission has elapsed following the giving of notice by Tenant to the Lender required hereunder, including, without limitation, time to obtain possession from Landlord by power of sale or judicial foreclosure, it being agreed that the Lender shall have no obligation to Tenant to cure or remedy any act or omission of Landlord. Without limiting the generality of the foregoing, Tenant shall provide Lender with notice of any breach or default by Landlord under this Lease (such notice herein a “Landlord Default Notice”) and, thereafter, the opportunity to cure such breach or default as provided for below. After Xxxxxx receives a Landlord Default Notice, Lender shall have a period of thirty (30) days beyond the time available to Landlord under this Lease in which to cure the breach or default by Landlord. Lender shall have no obligation to cure (and shall have no liability or obligation for not curing) any breach or default by Landlord, except to the extent that Xxxxxx agrees or undertakes otherwise in writing. In addition, as to any breach or default by Landlord the cure of which requires possession and control of the Building, provided that Lender undertakes by written notice to Tenant specify the address to which copies are exercise reasonable efforts to cure or cause to be sent. All notices and copies of notices required to be sent cured by a receiver such breach or delivered pursuant to Sections 21.2.1 or 21.2.2 default within the period permitted by this paragraph, Xxxxxx’s cure period shall be sent in the same manner as notices otherwise are to be sent under the terms of this Lease. Any Holder’s address for receipt of notices may be changed by written notice to Tenant. 21.2.1. Tenant shall send to all Holders a copy of all notices of default sent by Tenant to Landlord. 21.2.2. Notwithstanding anything to the contrary contained in this Lease and subject to any limitation on Tenant’s rights to terminate this Lease otherwise contained herein, Tenant may seek to terminate this Lease pursuant to any express provision herein contained only after Tenant has sent to each Holder a written notice specifying the reason continue for such purported termination and: 21.2.2.1. In the event such reason constitutes a failure by Landlord additional time as Lender may reasonably require to pay any funds to Tenant or to any other party, no such Holder cures such failure within thirty either: (30A) days after receipt by all Holders obtain possession and control of the written notice Building with due diligence and thereafter cure the breach or default with reasonable diligence and continuity; or (B) obtain the appointment of default from Tenant; 21.2.2.2. In a receiver and give such receiver a reasonable period of time in which to cure the event of any other reason which may be specified in this Lease susceptible of being cured by any Holder, no Holder commences within thirty (30) days after receipt by all Holders of written notice of such reason from Tenant the work of curing such matter and pursues the same to completion with all reasonable dispatch. So long as any Holder is proceeding diligently pursuant to any of the provisions of this Section 21.2.2 or is otherwise attempting to remedy the situation giving rise to Tenant’s right to terminate this Lease, Tenant’s rights to so terminate this Lease shall be suspended. Once the Holder has so proceeded, Tenant may not commence any proceeding or other efforts to terminate this Lease without prior written notice to all Holders. Nothing herein contained shall be deemed to require any Holder to continue with any foreclosure or any other proceedings against Landlord’s interest or with efforts to obtain a deed in lieu of foreclosure or, once having obtained possession of the Premises, to continue in possession thereofdefault. 21.2.3. Any Holder shall have the right to perform any obligations of Landlord under this Lease, and Tenant shall accept such performance by or at the instance of any Holder as if the same had been made by Landlord. Subject to the provisions of Section 21.2.2 above, no default shall be deemed to exist under this Lease if proceedings shall in good faith have been commenced promptly to rectify the same and prosecuted to completion with diligence. 21.2.4. The subordination and attornment and lender protection provisions of this Section 21 shall be deemed effective upon execution of this Lease, without any further act of Tenant. Notwithstanding the foregoing, however, Tenant shall from time to time, on request from Landlord, execute and deliver any documents or instruments that may be required by any Holder or proposed Holder to effectuate any subordination or attornment, which shall include commercially reasonable nondisturbance language. If Tenant shall fail to execute and return any such documents or instruments within twenty (20) days after receiving such request: (i) at Landlord’s option, such failure shall be an Event of Default hereunder; and (ii) Tenant shall be deemed to have agreed with the matters set forth therein.

Lender Protection. Notwithstanding anything herein to Tenant will give the contraryowners or holders of any Security Instrument (“Lienholder”), Tenant shall not have any duty to send any notice referred to in Sections 21.2.1 or 21.2.2 to any Holder who does not by written notice to Tenant specify the address to which copies are to be sent. All notices and copies of notices required to be sent or delivered pursuant to Sections 21.2.1 or 21.2.2 shall be sent in the same manner as notices otherwise are to be sent under the terms of this Lease. Any Holder’s address for receipt of notices may be changed by written notice to Tenant. 21.2.1. Tenant shall send to all Holders registered mail, a copy of all notices any notice of default sent Tenant serves on Landlord, provided that Landlord or Lienholder previously notified Tenant (by way of notice of assignment of rents and leases or otherwise) of the address of Lienholder. Tenant further agrees that if Landlord fails to Landlord. 21.2.2. Notwithstanding anything to the contrary contained in this Lease and subject to any limitation on Tenant’s rights to terminate this Lease otherwise contained herein, Tenant may seek to terminate this Lease pursuant to any express provision herein contained only after Tenant has sent to each Holder a written notice specifying the reason for cure such purported termination and: 21.2.2.1. In the event such reason constitutes a failure by Landlord to pay any funds to Tenant or to any other party, no such Holder cures such failure default within thirty (30) days after Landlord’s receipt by all Holders of the written such notice of default from Tenant; 21.2.2.2. In Tenant (provided that if the event nature of any other reason which may such default is such that the same cannot reasonably be specified in this Lease susceptible cured within a thirty (30) day period, then Landlord shall have a reasonable time period to cure such default if it diligently commences such cure within such thirty (30) day period and thereafter diligently proceeds to rectify and cure such default), then Tenant will provide written notice of being cured by any Holder, no Holder commences within such failure to Lienholder and Lienholder will have an additional thirty (30) days after receipt by all Holders of written notice of such reason from Tenant within which to cure the work of curing such matter and pursues the same to completion with all reasonable dispatchdefault. So long as any Holder is proceeding diligently pursuant to any of the provisions of this Section 21.2.2 or is otherwise attempting to remedy the situation giving rise to Tenant’s right to terminate this Lease, Tenant’s rights to so terminate this Lease shall be suspended. Once the Holder has so proceeded, Tenant may not commence any proceeding or other efforts to terminate this Lease without prior written notice to all Holders. Nothing herein contained shall be deemed to require any Holder to continue with any foreclosure or any other proceedings against Landlord’s interest or with efforts to obtain a deed in lieu of foreclosure or, once having obtained possession of the Premises, to continue in possession thereof. 21.2.3. Any Holder Lienholder shall have the right no obligation to perform cure (and shall have no liability or obligation for not curing) any obligations of Landlord under this Lease, and Tenant shall accept such performance by breach or at the instance of any Holder as if the same had been made default by Landlord. Subject , except to the provisions of Section 21.2.2 aboveextent that Lienholder agrees or undertakes otherwise in writing. If the default cannot be cured within the additional thirty (30) day period, no default shall then Lienholder will have such additional time as may be deemed necessary to exist under this Lease if proceedings shall in good faith have been effect the cure if, within the thirty (30) day period, Lienholder has commenced promptly to rectify and is diligently pursuing the same and prosecuted to completion with diligence. 21.2.4. The subordination and attornment and lender protection provisions of this Section 21 shall be deemed effective upon execution of this Leasecure (including, without any further act of Tenant. Notwithstanding limitation, commencing foreclosure proceedings and/or appointing a receiver if necessary to effect the foregoing, however, Tenant shall from time to time, on request from Landlord, execute and deliver any documents or instruments that may be required by any Holder or proposed Holder to effectuate any subordination or attornment, which shall include commercially reasonable nondisturbance language. If Tenant shall fail to execute and return any such documents or instruments within twenty (20) days after receiving such request: (i) at Landlord’s option, such failure shall be an Event of Default hereunder; and (ii) Tenant shall be deemed to have agreed with the matters set forth thereincure).