Mortgage Subordination. Xxxxxx agrees, at any time and from time to time, upon not less than ten (10) days prior written request by Landlord or the holder of a mortgage on the Premises, to execute, acknowledge, and deliver to Landlord or such mortgage holder a written agreement with the holder of such mortgage providing that:
a. The Tenant will not pay any rent under the Lease more than one month in advance of its due date;
b. Tenant will not consent to the modification of any material terms of this Lease nor to the termination thereof by the Landlord without the prior written consent of such mortgage holder; that the holder of such mortgage shall not be (i) liable for any act or omission of any prior landlord, or (ii) subject to any offsets or defenses which Tenant might have against any prior landlord;
c. Tenant will not seek to terminate this Lease by reason of any act or omission of the Landlord until the Tenant shall have given written notice of such act or omission to the holder of such mortgage and until a reasonable period of time shall have elapsed following the giving of such notice during which period such holder shall have the right to remedy such act or omission;
d. In the event the holder of such mortgage, its successors, transferees or assignees takes possession of the Premises or otherwise succeeds to the interest of Landlord hereunder, and upon written notice from said holder, its successors, transferees or assigns, Tenant shall attorn to the holder, its successors, transferees or assignees under this Lease, and the Lease shall continue in full force and effect so long as Tenant is not in default hereunder; and
e. Tenant will subordinate this Lease and the estate hereby created to the lien of any existing or future mortgage upon the Premises, provided the holder of such mortgage will enter into an agreement with Tenant that in the event of foreclosure or other action taken under the mortgage, the rights of Tenant shall continue in full force and effect and shall not be terminated or disturbed except in accordance with the provisions of this Lease in case of the default of Tenant.
Mortgage Subordination. Grantor represents and warrants to Grantee that the Premises are not subject to any mortgages, liens, or leases prior in right to this Restriction. Grantor agrees not to enter into or permit other mortgages, liens or leases affecting the Premises prior in right to this Restriction.
Mortgage Subordination. (a) This Lease and the right, title and interest of Tenant under this Lease shall be prior and superior in all respects to any Lien (other than any Permitted Lien) on all or any portion of the Leased Property by, through or under Landlord, irrespective of the time of execution or time of recording of such Lien, whether placed on the Leased Property prior to, on or after the Effective Date, and whether or not such Lien constitutes a Permitted Landlord Lien or secures Landlord Indebtedness. No Lien (other than any Permitted Lien) placed or permitted on the Leased Property by, through or under Landlord shall be superior or prior to this Lease or Tenant’s right, title and interest under this Lease, whether by date of execution, time of recording, tacking, subrogation, or any other legal or equitable principles or operation of law. Concurrently with the execution of this Lease, Landlord, Landlord Lender and Tenant have entered into an SNDA. For the avoidance of doubt, no Permitted Landlord Lien shall be deemed to encumber any of the rights, titles or interests of Tenant under this Lease.
(b) Landlord shall cause any subsequent Person holding or claiming any Lien in or to all or any portion of the Landlord Interests or Landlord Equity Interests, as a condition to the granting of same, to execute and deliver to Tenant an SNDA.
Mortgage Subordination. All mortgages and rights in the property of all mortgagees are subject and subordinate at all times to the rights of the Foundation to enforce the purposes of these Covenants. Grantor will provide a copy of these Covenants to all mortgagees of the Subject Property and has caused all mortgagees as of the date of this Historic Preservation Agreement to subordinate the priority of their liens to these Covenants. The subordination provisions as described above relates only to the purposes of these Covenants, namely the preservation of the historic architecture and landscape of the Subject Property.
Mortgage Subordination. Any mortgage, deed of trust, or deed to secure debt affecting any part of the Property or the Retained Property shall at all times be subject and subordinate to the terms of this Agreement, and any party foreclosing any such mortgage, deed of trust or deed to secure debt, or acquiring title by deed in lieu of foreclosure or trustee’s sale shall acquire title subject to all of the terms and provisions of this Agreement.
Mortgage Subordination. This Lease is subject and subordinate to any existing mortgage or mortgages that are a lien on the Premises herein demised as of the date on which this Lease is consummated, and shall be subject and subordinate to any new mortgage or mortgages placed on the demised Premises by Landlord, or to any renewal, replacement or extension of any existing mortgage or mortgages or of any new mortgage or mortgages. Landlord agrees to endeavor to obtain from the mortgagee of each such mortgage an agreement acceptable to such mortgagee under which such mortgagee agrees to recognize this Lease of Tenant in the event of foreclosure if Tenant is not then in default, so long as Tenant pays the Rent, and observes and performs all of the other obligations, provisions, covenants, and conditions required of Tenant by this Lease. In order to confirm this Lease’s subordination, Tenant hereby covenants and agrees that it will, at any time after the date of this Lease, execute and deliver an instrument subordinating this Lease to any mortgage currently existing or proposed to exist upon the request of the Landlord.
Mortgage Subordination. Subject to Lessor's compliance with the provisions of Section 9.3 hereof, Lessee agrees that this Sublease shall at all times be subject and subordinate to (i) all mortgages, liens, security interests, and other encumbrances (hereinafter sometimes referred to collectively as "MORTGAGES" and each individually as a "MORTGAGE") against the Subleased Premises as of the date of execution of this Sublease, INCLUDING, BUT NOT LIMITED TO, the extent to which such Mortgages secure current and future advances made under current debts and obligations of Lessor AND (ii) all Mortgages subsequently placed on the Subleased Premises by or with the consent of Lessor or Ground Lease Landlord. Subject to Lessor's compliance with the provisions of Section 9.3 hereof, Lessee agrees that, upon written demand by Lessor and at no cost to Lessor or Ground Lease Landlord, Lessee shall execute such documents as may be required at any time and from time to time to effectuate and evidence such subordinations.
Mortgage Subordination. 18 9.3 NONDISTURBANCE AGREEMENTS . . . . . . . . . . . . . . . . . . . . . 19 9.4
Mortgage Subordination. That this Lease shall be subject and subordinate at all times to the lien of any mortgages now affecting the leased premises, and to all advances made or hereafter to be made upon the security thereof, and shall be automatically subject and subordinate to the lien of any mortgage or mortgages which at any time may be made a lien upon or affecting the premises herein leased. The LESSOR, however, shall, prior to the granting of any mortgage covering the fee interest of the leased premises, obtain from such mortgagee a "Non Disturbance" Agreement, in form reasonably acceptable to counsel to the LESSEE.
Mortgage Subordination. 15.1 Tenant shall, upon the request of Landlord, in writing subordinate this lease and the lien hereof from time to time to the lien of any future first mortgage to a bank, insurance company or similar financial institution, irrespective of the time of execution or time of recording of such mortgage or mortgages, provided the holder of such mortgage shall first enter into an agreement with Xxxxxx, in recordable form, and substantially in the form of Schedule D, that in the event of foreclosure or other right asserted under the mortgage by the holder or any assignee thereof, this lease and the rights of Tenant hereunder shall continue in full force and effect and shall not be terminated or disturbed except in accordance with the provisions of this lease. Tenant shall, if requested by the holder of any such mortgage, be a party to said agreement, provided such agreement does not alter the terms of this lease, and shall agree in substance that if the mortgagee or any person claiming under such mortgagee shall succeed to the interest of Landlord in this lease, Tenant shall recognize such mortgagee or person as its Landlord under the terms of this lease. Xxxxxx agrees that Tenant shall, upon the request of Landlord, execute, acknowledge and deliver any and all instruments necessary to effectuate, or to give notice of, such subordination, provided such instruments do not alter the terms of this lease and provided Landlord shall reimburse Tenant for any costs (including attorneys' fees) incurred by Tenant in connection with its review and or execution of any such instruments. The word "mortgage" as used herein includes mortgages, deeds of trust and similar instruments and modifications, consolidations, extensions, renewals, replacements or substitutes thereof.
