Common use of LENDER'S RIGHTS, REMEDIES AND LIABILITY AS A LANDLORD OR LENDER IN POSSESSION Clause in Contracts

LENDER'S RIGHTS, REMEDIES AND LIABILITY AS A LANDLORD OR LENDER IN POSSESSION. If Lender shall succeed to the interest of Landlord under the Lease in any manner, or if any purchaser acquires the Premises upon any foreclosure of the Deed of Trust or any trustee's sale under the Deed of Trust, Lender or such purchaser, as the case may be, in the event of attornment, shall have the same remedies by entry, action or otherwise in the event of any default by Tenant (beyond any period given Tenant to cure such default) in the payment of rent or additional rent or in the performance of any of the terms, covenants and conditions of the Lease on Tenant's part to be performed that Landlord had or would have had if Lender or such purchaser had not succeeded to the interest of Landlord. From and after any such attornment, Lender or such purchaser shall be bound to Tenant under all the terms, covenants, and conditions of the Lease, and Tenant shall, from and after the succession to the interest of Landlord under the Lease by Lender or such purchaser, have the same remedies against Lender or such purchaser for the breach of an agreement contained in the Lease that Tenant might have had under the Lease against Landlord if Lender or such purchaser had not succeeded to the interest of Landlord; provided, however, that the provisions of the Deed of Trust shall govern with respect to the disposition of any casualty insurance proceeds or condemnation awards and provided further that Lender or such purchaser shall not be: (a) liable for any act or omission of any prior landlord (including Landlord); (b) subject to offsets or defenses which Tenant might have against any prior landlord (including Landlord); (c) bound by any rent or additional rent which Tenant might have paid for more than the current month to any prior landlord (including Landlord), unless the same was paid to and received by Lender; or (d) bound by any amendment or modification of the Lease made without its consent, Neither General Electric Capital Corporation, nor any other party who from time to time shall be included in the definition of Lender hereunder, shall have any liability or responsibility under or pursuant to the terms of this Agreement after it ceases to own an interest in or to the Property. Nothing in this Agreement shall be construed to require Lender to see to the application of the proceeds of the Loan, and Tenant's agreements set forth herein shall not be impaired on account of any modification of the documents evidencing and securing the Loan. Tenant acknowledges that Lender is obligated only to Borrower to make the Loan only upon the terms and subject to the conditions set forth in the Loan Agreement between Lender and Borrower pertaining to the Loan. Tenant further acknowledges and agrees that neither Lender nor any purchaser of the Property at foreclosure sale or any grantee of the Property named in a deed-in-lieu of foreclosure, nor any heir, legal representative, successor, or assignee of Lender or any such purchaser or grantee, has or shall have any personal liability for the obligations of Landlord under the Lease, except to the extent of the rents, security deposits, and insurance and condemnation proceeds actually received and the equity in the Property then owned by such party; provided, however, that the Tenant may exercise any other right or remedy provided thereby or by law in the event of any failure by Landlord to perform any such material obligation.

LENDER'S RIGHTS, REMEDIES AND LIABILITY AS A LANDLORD OR LENDER IN POSSESSION. If Lender shall succeed to the interest of Landlord under the Lease in any manner, or if any purchaser acquires the Premises Property upon any foreclosure of the Deed of Trust or any trustee's sale under the Deed of Trust, Lender or such purchaser, as the case may be, in the event of attornment, shall have the same remedies by entry, action or otherwise in the event of any default by Tenant (beyond any period given Tenant to cure such default) in the payment of rent or additional rent or in the performance of any of the terms, covenants and conditions of the Lease on Tenant's part to be performed that Landlord had or would have had if Lender or such purchaser had not succeeded to the interest of Landlord. From and after any such attornmentThereafter, Lender or such purchaser shall be bound to Tenant under all the terms, covenants, and conditions of the Lease, and Tenant shall, from and after the succession to the interest of Landlord under the Lease by Lender or such purchaser, have the same remedies against Lender or such purchaser for the breach of an agreement contained in the Lease that Tenant might have had under the Lease against Landlord if Lender or such purchaser had not succeeded to the interest of Landlord; provided, however, that the provisions and Tenant shall be bound to Lender or such purchaser under all of the Deed terms, covenants and conditions of Trust shall govern with respect to the disposition of any casualty insurance proceeds or condemnation awards and provided further that Lease. However, Lender or such purchaser shall not be: (a) liable for any act or omission of any prior landlord (including Landlord);; or (b) subject to offsets or defenses which Tenant might have against any prior landlord (including Landlord);; or (c) bound by any rent or additional rent which Tenant might have paid for more than the current month to any prior landlord (including Landlord), unless the same was paid to and received by Lender; or (d) bound by any representation or warranty contained in the Lease or made by any party to Tenant, including, but not limited to, Landlord; or (e) bound by any amendment or modification of the Lease made without its Lender's consent, ; or (f) liable for any security deposit or other sum(s) paid by Tenant to Landlord. Neither General Electric Capital Corporation, Lender nor any other party who from time to time shall be included in the definition of Lender hereunder, shall have any liability or responsibility under or pursuant to the terms of this Agreement after from the date it ceases to own an interest in or to the Property. Nothing in this Agreement shall be construed to require Lender to see to the application of the proceeds of the Loan, and Tenant's agreements set forth herein shall not be impaired on account of any modification of the documents evidencing and securing the Loan. Tenant acknowledges that Lender is obligated only to Borrower to make the Loan only upon the terms and subject to the conditions set forth in the Loan Agreement between Lender and Borrower pertaining to the Loan. Tenant further acknowledges and agrees that neither Lender nor any purchaser of the Property at any foreclosure sale or nor any grantee of the Property named in a deed-in-lieu of foreclosure, nor any heir, legal representative, successor, or assignee of Lender or of any such purchaser or grantee, has or shall have any personal liability for the obligations of Landlord under the Lease, except to the extent of the rents, security deposits, and insurance and condemnation proceeds actually received and the equity in the Property then owned by such party; provided, however, that the Tenant may exercise any other right or remedy provided thereby or by law in the event of any failure by Landlord to perform any such material obligation.

LENDER'S RIGHTS, REMEDIES AND LIABILITY AS A LANDLORD OR LENDER IN POSSESSION. If Lender shall succeed to the interest of Landlord under the Lease in any manner, or if any purchaser acquires the Premises Property upon any foreclosure of the Deed of Trust or any trustee's ’s sale under the Deed of Trust, Lender or such purchaser, as the case may be, in the event of attornment, shall have the same remedies by entry, action or otherwise in the event of any default by Tenant (beyond any period given Tenant to cure such default) in the payment of rent or additional rent or in the performance of any of the terms, covenants and conditions of the Lease on Tenant's ’s part to be performed that Landlord had or would have had if Lender or such purchaser had not succeeded to the interest of Landlord. From and after any such attornmentThereafter, Lender or such purchaser shall be bound to Tenant under all the terms, covenants, and conditions of the Lease, and Tenant shall, from and after the succession to the interest of Landlord under the Lease by Lender or such purchaser, have the same remedies against Lender or such purchaser for the breach of an agreement contained in the Lease that Tenant might have had under the Lease against Landlord if Lender or such purchaser had not succeeded to the interest of Landlord; provided, however, that the provisions and Tenant shall be bound to Lender or such purchaser under all of the Deed terms, covenants and conditions of Trust shall govern with respect to the disposition of any casualty insurance proceeds or condemnation awards and provided further that Lease. However, Lender or such purchaser shall not be: (a) liable for any act or omission of any prior landlord (including Landlord);; or (b) subject to offsets or defenses which Tenant might have against any prior landlord (including Landlord);; or (c) bound by any rent or additional rent which Tenant might have paid for more than the current month to any prior landlord (including Landlord), unless the same was paid to and received by Lender; or (d) bound by any representation or warranty contained in the Lease or made by any party to Tenant, including, but not limited to, Landlord; or (e) bound by any amendment or modification of the Lease made without its Lender’s consent, ; or (f) liable for any security deposit or other sum(s) paid by Tenant to Landlord. Neither General Electric Capital Corporation, Lender nor any other party who from time to time shall be included in the definition of Lender hereunder, shall have any liability or responsibility under or pursuant to the terms of this Agreement after from the date it ceases to own an interest in or to the Property. Nothing in this Agreement shall be construed to require Lender to see to the application of the proceeds of the Loan, and Tenant's agreements set forth herein shall not be impaired on account of any modification of the documents evidencing and securing the Loan. Tenant acknowledges that Lender is obligated only to Borrower to make the Loan only upon the terms and subject to the conditions set forth in the Loan Agreement between Lender and Borrower pertaining to the Loan. Tenant further acknowledges and agrees that neither Lender nor any purchaser of the Property at any foreclosure sale or nor any grantee of the Property named in a deed-in-lieu of foreclosure, nor any heir, legal representative, successor, or assignee of Lender or of any such purchaser or grantee, has or shall have any personal liability for the obligations of Landlord under the Lease, except to the extent of the rents, security deposits, and insurance and condemnation proceeds actually received and the equity in the Property then owned by such party; provided, however, that the Tenant may exercise any other right or remedy provided thereby or by law in the event of any failure by Landlord to perform any such material obligation.