Common use of Mortgage Priority Clause in Contracts

Mortgage Priority. This lease is and shall be prior to any mortgage or deed of trust ("Encumbrance") recorded after the date of this lease and affecting the premises. However, if any lender holding such an Encumbrance requires that this lease be subordinate to the encumbrance, then Tenant agrees that the lease shall be subordinate to the encumbrance if the holder thereof agrees in writing with Tenant that so long as Tenant performs its obligations under this lease, no foreclosure, deed given in lieu of foreclosure, or sale pursuant to the terms of the Encumbrance, or other steps or procedures taken under the Encumbrance shall affect Tenant's rights under this lease. If the foregoing condition is met Tenant shall execute the written agreement and any other documents reasonably required by the holder of the encumbrance to accomplish the purposes of this paragraph. If the premises are sold as a result of foreclosure of any encumbrance thereon, or otherwise transferred by Landlord or any successor, Tenant shall attorn to the purchaser or transferee.

Mortgage Priority. This lease is and shall be prior to any mortgage or deed of trust ("Encumbrance") recorded after the date of this lease and affecting the premises. However, if any lender holding such an Encumbrance requires that this lease be subordinate to the encumbrance, then Tenant agrees that the lease shall be subordinate to the encumbrance if the holder thereof agrees in writing with Tenant that so long as Tenant performs its obligations under this lease, no foreclosure, deed given in lieu of foreclosure, or sale pursuant to the terms of the Encumbrance, or other steps or procedures taken under the Encumbrance shall affect Tenant's rights under this lease. If the foregoing condition is met Tenant shall execute the written agreement and any other documents reasonably required by the holder of the encumbrance to accomplish the purposes of this paragraph. If the premises are sold as a result of foreclosure of any encumbrance thereon, or otherwise transferred by Landlord or any successor, Tenant shall attorn to the purchaser or transferee.. 11.3

Mortgage Priority. This lease is and shall be prior to any mortgage or deed of trust ("“Encumbrance"”) recorded after the date of this lease and affecting the premisesLeased Premises. However, if any lender holding such an Encumbrance requires that this lease be subordinate to the encumbranceEncumbrance, then Tenant agrees that the lease shall be subordinate to the encumbrance Encumbrance if the holder thereof agrees in writing with Tenant that so as long as Tenant performs its Tenant’s obligations under this lease, lease no foreclosure, deed given in lieu of foreclosure, or sale pursuant to the terms of the Encumbrance, or other steps or procedures taken under the Encumbrance shall affect Tenant's ’s rights under this lease. If the foregoing condition is met met, Tenant shall execute the written agreement and any other documents reasonably required by the holder of the encumbrance Encumbrance to accomplish the purposes of this paragraph. If the premises Leased Premises are sold as a result of foreclosure of any encumbrance Encumbrance thereon, or otherwise transferred by Landlord Lessor or any successor, Tenant shall attorn to the purchaser or transferee.

Mortgage Priority. This lease is and shall be prior to any mortgage or deed of trust ("Encumbrance") recorded after the date of this lease and affecting the premises. However, if any lender holding such an Encumbrance requires that this lease be subordinate to the encumbranceEncumbrance, then Tenant Xxxxxx agrees that the lease shall be subordinate to the encumbrance Encumbrance if the holder thereof agrees in writing with Tenant Lessee that so long as Tenant Lessee performs its obligations under this lease, lease no foreclosure, deed given in lieu of foreclosure, or sale sale, pursuant to the terms of the Encumbrance, or other steps or procedures taken under the Encumbrance shall affect TenantLessee's rights under this lease. If the foregoing condition is met Tenant met, Xxxxxx shall execute the written agreement agreement, and any other documents reasonably required by the holder of the encumbrance Encumbrance to accomplish the purposes of this paragraph. If the premises are sold as a result of foreclosure of any encumbrance Encumbrance thereon, or otherwise transferred by Landlord Lessor or any successor, Tenant Xxxxxx shall attorn agree to be the lessee of the purchaser or transferee.

Mortgage Priority. This lease is and shall be prior to any mortgage or deed of trust ("Encumbrance") recorded after the date of this lease and affecting the premisesPremises. However, if any lender holding such an Encumbrance requires that this lease be subordinate to the encumbranceEncumbrance, then Tenant agrees that the lease shall be subordinate to the encumbrance Encumbrance if the holder thereof agrees in writing with Tenant that so as long as Tenant performs its obligations under this lease, lease no foreclosure, deed given in lieu of foreclosure, or sale pursuant to the terms of the Encumbrance, or other steps or procedures taken under the Encumbrance shall affect Tenant's rights under this lease. If the foregoing condition is met met, Tenant shall execute the written agreement and any other documents reasonably required by the holder of the encumbrance Encumbrance to accomplish the purposes of this paragraph. If the premises are sold as a result of foreclosure of any encumbrance Encumbrance thereon, or otherwise transferred by Landlord or any successor, Tenant shall attorn to the purchaser or transferee.

Mortgage Priority. This lease is and shall be prior to any mortgage or deed of trust ("Encumbrance") recorded after the date of this lease and affecting the premises. However, if any lender holding such an Encumbrance requires that this lease be subordinate to the encumbranceEncumbrance, then Tenant Lessee agrees that the lease shall be subordinate to the encumbrance Encumbrance if the holder thereof agrees in writing with Tenant Lessee that so long as Tenant Lessee performs its obligations under this lease, lease no foreclosure, deed given in lieu of foreclosure, or sale sale, pursuant to the terms of the Encumbrance, or other steps or procedures taken under the Encumbrance shall affect TenantLessee's rights under this lease. If the foregoing condition is met Tenant met, Lessee shall execute the written agreement agreement, and any other documents reasonably required by the holder of the encumbrance Encumbrance to accomplish the purposes of this paragraph. If the premises are sold as a result of foreclosure of any encumbrance Encumbrance thereon, or otherwise transferred by Landlord Lessor or any successor, Tenant Lessee shall attorn agree to be the lessee of the purchaser or transferee.

Mortgage Priority. This lease is and shall be prior to any mortgage or deed of trust ("Encumbrance") recorded after the date of this lease and affecting the premises. However, if any lender holding such an Encumbrance requires that this lease be subordinate to the encumbrance, then Tenant TENANT agrees that the lease shall be subordinate to the encumbrance if the holder thereof agrees in writing with Tenant TENANT that so long as Tenant TENANT performs its obligations under this lease, lease no foreclosure, deed given in lieu of foreclosure, or sale pursuant to the terms of the Encumbranceencumbrance, or other steps or procedures taken under the Encumbrance encumbrance shall affect TenantTENANT's rights under this lease. If the foregoing condition is met Tenant TENANT shall execute the written agreement and any other documents reasonably required by the holder of the encumbrance to accomplish the purposes of this paragraph. If the premises are sold as a result of foreclosure of any encumbrance thereon, or otherwise transferred by Landlord LANDLORD or any successor, Tenant TENANT shall attorn to the purchaser or transferee.. 12.3

Mortgage Priority. This lease is and shall be prior to any mortgage or deed of trust ("“Encumbrance"”) recorded prior to or after the date of this lease and affecting the premisesLeased Premises. However, if any lender holding such an Encumbrance recorded after the date of this lease requires that this lease be subordinate to the encumbranceEncumbrance, then Tenant agrees that the lease shall be subordinate to the encumbrance Encumbrance if the holder thereof agrees in writing with Tenant that so as long as Tenant performs its Tenant’s obligations under this lease, lease no foreclosure, deed given in lieu of foreclosure, or sale pursuant to the terms of the Encumbrance, or other steps or procedures taken under the Encumbrance shall affect Tenant's ’s rights under this lease. If the foregoing condition is met met, Tenant shall execute the written agreement and any other documents reasonably required by the holder of the encumbrance Encumbrance to accomplish the purposes of this paragraph. If the premises Leased Premises are sold as a result of foreclosure of any encumbrance Encumbrances thereon, or otherwise transferred by Landlord Lessor or any successor, Tenant shall attorn to the purchaser or transferee.