Mortgage of Leasehold. In addition to any other right herein granted, Tenant shall at all times have the right, without any consent on the part of the Landlord being required, to convey or encumber by mortgage its leasehold interest in and to the Premises or any part thereof, together with its rights and interests in and to all buildings and improvements whether now existing or hereafter constructed or placed thereon, and to assign this Lease or any interest therein as collateral for any such mortgage or mortgages; but any and all such conveyances, mortgages, or assignments shall be subject to this Lease and the right, title and interest of Landlord in the Premises. Landlord agrees, if required by the holder of such mortgage, to execute a consent to mortgage in order for Tenant to obtain funds for the construction or remodeling of improvements on the Premises. If any such leasehold mortgage shall be foreclosed or the leasehold estate sold under any power contained therein, the leasehold mortgagee or other purchaser at such sale shall immediately succeed to all rights of Tenant hereunder. Such mortgagee may at its option at any time before the rights of the Tenant shall have been forfeited to Landlord, or within the time permitted for curing or commencing to cure defaults as herein provided, pay any of the rents due, pay any other governmental charges, or insurance premiums, make any deposits, or do any other act or thing required of Tenant by the terms of this Lease to prevent the forfeiture hereof. A leasehold mortgagee shall not become personally liable for any of the Tenant’s obligations under this Lease unless and until such mortgagee becomes the owner of the leasehold estate by foreclosure, assignment in lieu of foreclosure or otherwise, and thereafter such mortgagee shall remain liable for such obligations only so long as it remains the owner of the leasehold estate. If the holder of the indebtedness secured by this Lease (“Mortgagee”) notifies Landlord of the execution of such leasehold mortgage, and the name and place for service of notices upon such Mortgagee, then and in such event Landlord hereby agrees for the benefit of Tenant and such Mortgagee from time to time:
(a) That Landlord will give to any Mortgagee simultaneously with service on Tenant a duplicate of any and all notices or demands given by Landlord to Tenant;
(b) Mortgagee shall have the privilege of performing any of Tenant’s covenants or of curing any defaults by Tenant or of exercising any election, opt...
Mortgage of Leasehold. Lessee shall have the right at any time and from time to time, to grant one or more mortgages, deeds of trust, assignments or other security instruments with respect to its interest in the Lease to lenders and, in connection therewith, collaterally assign this Lease and all of Lessee’s rights hereunder to such lenders (with any mortgage so granted by the Lessee with the consent of the City referred to herein as a “Mortgage”, and with the holder of any debt secured by a Mortgage and its successors and assigns referred to as a “Mortgagee”). A Mortgagee may be (A) any savings bank, a savings and loan association, a commercial bank or trust company (whether acting individually or in a fiduciary capacity) or an affiliate of any of the foregoing, (B) an insurance company organized and existing under the laws of the United States or any state thereof, (C) a real estate investment trust, a trustee or issuer of collateralized mortgage obligations, a loan conduit or other similar investment entity which is an institutional trustee, (D) a religious, educational or eleemosynary institution, a federal, state or municipal employee’s welfare, benefit, pension or retirement fund, any governmental agency or entity insured by a governmental agency, a credit union, investment bank or company, trust or endowment fund, (E) any brokerage organization, investment banking organization or investment fund regularly engaged in the business of providing debt or mezzanine financing, (F) any institutional trustee, servicer or fiduciary for the holders of bonds, notes, commercial paper or other evidence of indebtedness as part of a securitization of rates single or multi- class securities secured by, or evidencing ownership interests in, such debt, (G) any governmental entity or agency, quasi-governmental entity or agency or any government sponsored entity (e.g., Xxxxxxx Mac), or (I) any combination of the foregoing entities. If any Mortgage shall be foreclosed or the leasehold estate sold under any power contained therein or a deed or other transfer in lieu of foreclosure shall have occurred, the Mortgagee or transferee or other purchaser at such sale shall immediately succeed to all rights of Lessee hereunder and shall have the right to further lien, encumber, assign or mortgage all or part of Lessee’s leasehold interest hereunder without the prior written approval of City. The Mortgagee may at its option at any time before the rights of Lessee shall have been forfeited to City, or wi...
Mortgage of Leasehold. Tenant shall have the right to encumber the leasehold estate created by this Lease by a mortgage, deed of trust or other security instrument, including, without limitation, an assignment of the rents, issues and profits from the Premises, (the “Leasehold Mortgage”) to secure repayment of any loan to Tenant, and associated obligations, from any lender (a “Lender”).
Mortgage of Leasehold. 12.1 Subject to the provisions of this paragraph, Lessee shall have the right to encumber the leasehold estate created by this Lease by one or more mortgages, deeds of trust or other security instruments, including, without limitation, assignments of the rents, issues and profits from the Premises, to secure repayment of any loans, and associated obligations, made to Lessee for the purpose of interim and long-term financing or refinancing of the construction of new buildings and improvements to the Premises.
12.2 As used herein, “Leasehold Mortgage” shall mean any mortgage, deed of trust or other security instrument, including, without limitation, an assignment of the rents, issues and profits from the Premises, which constitutes a lien on the leasehold estate created by this Lease and “Lender” shall mean an owner and holder of a Leasehold Mortgage.
Mortgage of Leasehold. The Tenant shall not mortgage, pledge, hypothecate or otherwise encumber all or any portion of the Tenant’s interest in this Lease or the Leasehold Improvements.
Mortgage of Leasehold. Tenant shall have the right to encumber the leasehold estate created by this Lease by a mortgage, deed of trust or other security instrument, including, without limitation, an assignment of the rents, issues and profits from the Premises, (the “Leasehold Mortgage”) to secure repayment of any loan to Tenant, and associated obligations, from any lender (a “Lender”). Notwithstanding the foregoing, Tenant shall not, and shall have no right to, encumber Landlord’s fee or reversionary interest in the Premises. Tenant covenants to keep Xxxxxxxx’s fee and reversionary interest in the Premises and every part thereof at all times free and clear of any and all liens and encumbrances of any kind whatsoever arising out of the acts or omissions of Tenant, including those liens and encumbrances created by the performance of Tenant of any construction, labor, or furnishing of any material, supplies or equipment to Tenant.
Mortgage of Leasehold. At any time and from time to time, Subtenant may create a Permitted Mortgage without the prior consent of Sublessor.
Mortgage of Leasehold. TENANT shall have the right from time to time to encumber the leasehold estate created by this lease by one or more Leasehold Mortgages to secure repayment of any loan and associated obligations of TENANT for the development of the leased Premises upon prior written permission of PORT. TENANT shall have no right to require PORT to encumber PORT's fee interest in the Premises.
Mortgage of Leasehold. The Tenant shall not mortgage, pledge, hypothecate or otherwise encumber all or any portion of the Tenant's interest in this Lease or its Leasehold Improvements, without the Landlord's consent, such consent not to be unreasonably withheld and on condition that:
Mortgage of Leasehold. The Tenant shall not mortgage, pledge, hypothecate or otherwise encumber all or any portion of the Tenant's interest in this Lease or the Leasehold Improvements and shall not permit any lender to register any security interest against title to the Lands.
