Mortgage Subordination. This Lease shall be subordinate to the lien of any present or future mortgage(s) on the Premises. Notwithstanding the automatic nature of the subordination described in this Section, Tenant shall, with due diligence, execute, acknowledge and deliver to Landlord or its mortgagee or other designee(s), any and all standard forms of documents evidencing such subordination as may be reasonably requested by Landlord or by any proposed mortgagee. If any mortgagee elects to have Tenant's interest in this Lease rendered superior in priority to that mortgagee's lien on the Premises, then by notice to Tenant, this Lease shall be deemed superior to that mortgagee's lien, whether this Lease was executed before or after execution or recording of the instrument creating that mortgagee's lien. Any such attornment and or subordination referenced in this Lease shall be conditioned on Tenants being allowed to remain in the Premises on the terms otherwise set forth in this Lease provided that Tenant is not in default of its obligations under the Lease. Any subordination provision contained in the Lease, relating either to ground leases or mortgages, is subject to the express condition that so long as Tenant is not in material default under the Lease, (a) Tenant will not be made a party in any action or proceeding brought by any person having rights superior to Tenant to recover possession of the Premises or to foreclose any mortgage or for any other relief sought, and (b) Tenant's possession under the Lease shall not be disturbed. Landlord agrees to deliver to Tenant letters from any holder of rights superior to Tenant, including mortgages and ground lessors, recognizing Tenant's rights hereunder, such delivery to take place as a condition of and prior to the Commencement Date of Lease. Anything to the contrary notwithstanding, Landlord shall only use its best efforts to obtain non-disturbance agreement from its present mortgage lender(s).
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. Upon the written request of Landlord or of any lessor under a sale and leaseback of the land and/or building in which the Premises are situated or of any mortgagee or beneficiary of Landlord, Tenant will from time to time in writing subordinate its rights hereunder to the interest of any such lessor, as well as to the lien of any mortgage or deed of trust now or hereafter in force against the land and building of which the Premises are a part or against any buildings hereafter placed upon the land of which the Premises are a part, and to all advances made or hereafter to be made upon the security thereof. Such written subordination shall be executed and delivered to Landlord within ten (10) days from Tenant's receipt of a request for the same. If Tenant fails to execute and deliver such statement to Landlord within said ten-day period, Landlord may, as attorney-in-fact of Tenant, coupled with an interest, execute such statement for, and on behalf, and in the name of Tenant. If requested by Landlord in writing, Tenant shall give similar certificates from time to time during the term of this Lease in the manner hereinabove provided. Tenant agrees to give any mortgagees and/or trust deed holders, by registered mail, a copy of any notice of default served upon the Landlord, provided that prior to such notice Tenant has been notified, in writing, (by way of Notice of Assignment of Rents and Leases, or otherwise) of the address of such mortgagees and/or trust deed holders. Tenant further agrees that if Landlord shall have failed to cure such default within the time provided for in this Lease, then the mortgagees and/or trust deed holders shall have an additional thirty (30) days within which to cure such default or if such default cannot be cured within that time, then such additional time as may be necessary if within such thirty (30) days, any mortgagee and/or trust deed holders has commenced and is diligently pursuing the remedies necessary to cure such default, including but not limited to commencement of foreclosure proceedings, if necessary to effect such cure), in which event this Lease shall not be terminated while such remedies are being so diligently pursued. Landlord agrees to obtain from its lender, if any, a non-disturbance agreement in form acceptable to Landlord and the lender, providing that as long as Tenant performs its obligations hereunder, no foreclosure, deed in lieu of foreclosure or trustee's sale shall affect Tenants rights. Notwithstand...
Mortgage Subordination. Upon written request or notice by Landlord, concurred in by any mortgagee or trustee of the Site or by any person, firm or corporation intending to become such a mortgagee or trustee, Tenant agrees to subordinate its rights under this Lease to the lien or liens of any mortgages or deeds of trust that may hereafter be placed upon the Site and the Premises and to any and all advances to be made thereunder, and to the interest thereon, and all renewals, replacements and extensions thereof, provided the mortgagee or trustee named in said mortgages or deeds of trust shall agree to recognize the lease of Tenant in the event of foreclosure if Tenant is not in default beyond any applicable grace period. Tenant also agrees that any mortgagee or trustee may elect to have this Lease a prior lien to its mortgage or deed of trust, and in the event of such election and upon notification by such mortgagee or trustee to Tenant to that effect, this Lease shall be deemed prior in lien to the said mortgage or deed of trust, whether this Lease is dated prior to or subsequent to the date of said mortgage or trust deed. Tenant agrees that, upon the requests of Landlord, any mortgagee, or any trustee named in such mortgages or trust deeds, it shall execute and deliver whatever instruments may be required for such purposes and to carry out the intent of this Section, and in the event Tenant fails so to do within ten (10) business days after demand in writing, Tenant does hereby make, constitute and irrevocably appoint Landlord as its attorney in fact and in its name, place and stead so to do. This Lease and all of the rights of Tenant hereunder are and shall be subject and subordinate to the lien of any mortgage or deed of trust ("Mortgage") now existing, or which hereinafter may be placed, on the Premises or the Site, or any part thereof, and to any and all renewals, modifications, consolidations, replacements, extensions, or substitutions of any such Mortgage; provided, nevertheless, each Mortgage shall contain provisions to the effect that so long as Tenant is not in default under this Lease, no foreclosure of lien of any such Mortgage shall impair Tenant's right to quiet possession of the Premises pursuant to the provisions of this Lease. Such subordination shall be automatic, without the execution of any further subordination agreement by Tenant. With respect to any lien or liens of any mortgages or deeds of trust placed upon the Site and the Premises as of the date of this ...
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. 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. 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.
