Common use of Mortgage Subordination Clause in Contracts

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. This Lease and the term and estate hereby granted are and shall be subject and subordinate to the lien of each mortgage which may now or at any present time hereafter affect the Building and/or the Land, or future mortgage(s) on the PremisesLandlord’s interest therein (all such mortgages being in this Lease collectively called “the underlying mortgages”). Notwithstanding the automatic nature of The foregoing provisions for the subordination described in of this Section, Lease and the term and estate hereby granted shall be self-operative and no further instrument shall be required to effect any such subordination; but the Tenant shall, with due diligencehowever, executeupon request by the Landlord, acknowledge at any time or times execute and deliver to Landlord or its mortgagee or other designee(s), any and all standard forms of documents evidencing instruments that may be necessary or proper to effect such subordination or to confirm or evidence the same, and in the event that the Tenant shall fail to execute and deliver any such instrument the Landlord, in addition to any other remedies, may, as may the agent or attorney-in-fact of the Tenant, execute and deliver the same, and the Tenant hereby irrevocably constitutes and appoints the Landlord the Tenant’s agent and attorney-in-fact for such purpose. If the Landlord’s interest in the Building and the Land shall be reasonably requested by Landlord sold or conveyed to any person, firm or corporation upon the exercise of any remedy provided for in any underlying mortgage or by any proposed mortgagee. If any mortgagee elects law or equity, such person, firm or corporation and each person, firm or corporation thereafter succeeding to have Tenant's its interest in the Building and the Land (i) shall not be liable for any act or omission of the Landlord under this Lease rendered superior occurring prior to such sale or conveyance, (ii) shall not be subject to any offset, defense or counterclaim accruing prior to such sale or conveyance, (iii) shall not be bound by any payment prior to such sale or conveyance of fixed rent or additional rent for more than one month 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 advance (except prepayments in the Premises on nature of security for the terms otherwise set forth in this Lease provided that performance by the 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 soughthereunder), and (biv) Tenant's possession shall be liable for the keeping, observance and performance of the other covenants, agreements, terms, provisions and conditions to be kept, observed and performed by the Landlord under this Lease only during the Lease period such person, firm or corporation 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, hold 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)interest.

Mortgage Subordination. Section 22.1. This Lease lease shall be subject and subordinate to any mortgage granted by Landlord, all instruments in connection therewith (including Assignment of Lessor’s Interest in Lease), and to any other mortgage hereafter placed and becoming a lien upon the lien fee title of the Leased Premises and to any renewals, extensions, modifications, consolidations, replacements and correlations thereof (collectively referred to herein as “Mortgage”). Section 22.2. This lease is and shall be subject and subordinate to any security agreement executed as additional or supplemental security to any Mortgage referred to in Section 22.1, and to any financing statements under the Uniform Commercial Code. Section 22.3. The provisions of this Article shall be self-operative, without the necessity of any present other written consent, approval or future mortgage(s) on the Premisessubordination by Xxxxxx. Notwithstanding the automatic nature However, upon request of the subordination described in this SectionXxxxxxxx, Tenant shallTenant, with due diligenceat any time or times, shall execute, acknowledge and deliver to Landlord or its mortgagee or other designee(s)Landlord, without expense to Landlord, any and all standard forms of documents evidencing such subordination as may be reasonably requested instruments required by Landlord or the mortgagee to confirm such subordination. Tenant, in confirmation of the foregoing, hereby irrevocably nominates, constitutes and appoints Landlord, Xxxxxx’s proper and legal attorney-in-fact for any purpose required to effectuate and carry out the intent of this Article, with a power coupled with an interest, hereby ratifying all that Landlord may do as such attorney-in-fact of Tenant. Section 22.4. Tenant shall not perform or permit the performance of any act which is prohibited by the provisions of any proposed mortgagee. If any mortgagee elects Mortgage to have Tenant's interest in which this Lease rendered superior in priority is subject and shall not do anything or suffer or permit any act, condition or thing to that mortgagee's lien on occur at the Leased 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 which constitutes a default under 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 Mortgage except 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 disturbedobligated to pay the principal indebtedness thereof or interest thereon. Section 22.5. Landlord agrees Tenant shall consent to deliver to Tenant letters from any such reasonable amendments of this Lease as the holder of rights superior any Mortgage to which this Lease is subject shall request provided that such amendments do not increase the Fixed Net Rent or Additional Rent or increase Tenant, including mortgages and ground lessors, recognizing ’s other obligations or decreases Tenant's ’s rights hereunder, such delivery to take place as a condition and do not shorten the term of and prior to the Commencement Date of this 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. This Lease is and shall at all times, unless Landlord shall otherwise elect, be subject and subordinate to all easements and encumbrances now or hereafter affecting the lien fee title of the Shopping Center and to all mortgages, deeds of trust, financing or refinancing in any present amounts which may now or future mortgage(s) on hereafter be placed against or affect any or all of the Premisesland or any or all of the building and improvements now or at any time hereafter constituting part of the Shopping Center. 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)foregoing, 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 successor to have Tenant's Landlord’s interest in this Lease rendered superior in priority to that mortgagee's lien on the Premises, then including any ground lessor or holder of any mortgage or deed of trust, or to any purchaser at foreclosure (or by notice to Tenantdeed in lieu of foreclosure) shall, 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 of the Leaseterms and conditions of this Lease (beyond any applicable cure periods), (a) recognize and accept this Lease and all terms, conditions, and obligations of the Landlord contained herein. Tenant will not be made a party in also agrees that any action mortgagee or proceeding brought trustee may elect to have this Lease deemed prior to the lien of its mortgage or deed of trust, and upon notification by any person having rights superior such mortgagee or trustee to Tenant to recover possession of that effect, this Lease shall be deemed prior in lien to the Premises or to foreclose any said mortgage or for any other relief soughtdeed of trust, and (b) Tenant's possession under the whether this 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 is dated prior to the Commencement Date of Lease. Anything or subsequent to the contrary notwithstandingdate of said mortgage or deed of trust. Tenant agrees that if Landlord’s mortgagee or trustee requests confirmation of such subordination, Landlord within twenty (20) days after receipt of written request therefor, Tenant shall only use its best efforts execute and deliver whatever instruments (including but not limited to obtain nona Memorandum of Lease and/or a Non-disturbance agreement from its present mortgage lender(s)Disturbance and Attornment Agreement in recordable form) as may be reasonably required for such purposes to carry out the intent of this section.

Mortgage Subordination. This Lease shall be subordinate Xxxxxx agrees, at any time and from time to time, upon not less than ten (10) days prior written request by Landlord or the lien holder of any present or future mortgage(s) a mortgage on the Premises. Notwithstanding the automatic nature of the subordination described in this Section, Tenant shall, with due diligence, to execute, acknowledge 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 mortgagee or other designee(s), due date; b. Tenant will not consent to the modification of any and all standard forms material terms 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 nor to the termination thereof by the Landlord without the prior written consent of such mortgage holder; that mortgagee's lien on the Premisesholder of such mortgage shall not be (i) liable for any act or omission of any prior landlord, then by notice or (ii) subject to Tenant, any offsets or defenses which Tenant might have against any prior landlord; c. Tenant will not seek to terminate this Lease shall be deemed superior to that mortgagee's lien, whether this Lease was executed before by reason of any act or after execution or recording omission of the instrument creating that mortgagee's lien. Any Landlord until the Tenant shall have given written notice of such attornment 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 subordination referenced in 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 be conditioned on Tenants being allowed to remain continue 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 full force and effect so long as Tenant is not in material 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 Leasemortgage, (a) the rights of Tenant will not be made a party shall continue 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, full force and (b) Tenant's possession under the Lease effect and shall not be disturbed. Landlord agrees to deliver to Tenant letters from any holder terminated or disturbed except in accordance with the provisions of rights superior to this Lease in case of the default of 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. This Lease shall be and hereby is made subject and subordinate at all times to the lien or security title of any present mortgage granted by Lessor which may now or future mortgage(s) on hereafter affect the Premisesreal property of which the Premises forms a part, and to all renewals, modifications, consolidations, participation's, replacements and extensions thereof. 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 The term "mortgage" as may be reasonably requested by Landlord or by any proposed mortgagee. If any mortgagee elects to have Tenant's interest used in this Lease rendered superior shall include deeds of trust and deeds to secure debt. Lessee agrees that, in priority the event of foreclosure of any such mortgage or sale of the Premises under a power contained therein, Lessee will attorn to and accept the purchaser at any such sale as Lessor for the balance of the term of this Lease, subject to all of the terms and conditions of this Lease. Lessee agrees that mortgagee's lien on if Lessor notifies Lessee of the placing of any mortgage against the Premises, then by notice Lessee shall not, during the term hereof, assert any claim of total or partial eviction, of right to Tenant, terminate this Lease shall be deemed superior or of right to that mortgagee's lien, whether this Lease was executed before or after execution or recording of reduce the instrument creating that mortgagee's lien. Any such attornment rental payments due hereunder unless 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, until (a) Tenant will not be made a party Lessee has given notice in any action or proceeding brought by any person having rights superior to Tenant to recover possession writing of the Premises or basis of such claim to foreclose the holder of any mortgage which at the time encumbers the Premises and of which Lessee has notice, (b) a reasonable period of time, not less than thirty (30) days, has elapsed following the giving of such notice to permit such mortgage holder to commence action to remedy or for any other relief soughtcure the basis of such claim, and (bc) Tenant's possession under the Lease shall not be disturbed. Landlord agrees Lessor and every such mortgage holder fail to deliver to Tenant letters from any holder of rights superior to Tenant, including mortgages commence and ground lessors, recognizing Tenant's rights hereunder, pursue 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)remedial action with reasonable diligence.

Mortgage Subordination. This Lease At the time of the conveyance of this Agreement, the Property is subject to a Mortgage recorded/filed with the Registry in Book _, Page or Document No. (hereinafter "the Mortgage”) and held by a. The Mortgagee and its assignees shall have a prior claim to all insurance proceeds as a result of any casualty, hazard or accident occurring to or about the Property and all proceeds of condemnation proceedings, and shall be subordinate entitled to same in preference to the lien of any present or future mortgage(s) on proceeds until the Premises. Notwithstanding Mortgage is satisfied in full and discharged, notwithstanding that 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 Mortgage is subordinate in priority to that mortgagee's lien on this Agreement. b. If the PremisesMortgagee receives an assignment of the leases, rents, and profits of the Property as security or additional security for the loan secured by the Mortgage, then by notice the Mortgagee shall have a prior claim to Tenantthe leases, rents, and profits of the Property and shall be entitled to receive same in preference to the Town until the Mortgagee's debt is paid off or otherwise satisfied, notwithstanding that the Mortgage is subordinate in priority to the Agreement. c. The Mortgagee or purchaser in foreclosure shall have no obligation, debt, or liability under this Agreement until the Mortgagee or a purchaser in foreclosure under it obtains ownership of the Property. In the event of foreclosure or deed in lieu of foreclosure, 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 Agreement shall not be disturbed. Landlord agrees extinguished. d. Nothing contained in this Section or in this Agreement shall be construed to deliver given any Mortgagee the right to Tenant letters from any holder violate the terms of rights superior this Agreement or to Tenant, including mortgages and ground lessors, recognizing Tenant's rights hereunder, such delivery to take place as a condition of and prior extinguish this Agreement by taking title 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)Property by foreclosure or otherwise.

Mortgage Subordination. This Lease shall be and hereby is made subject and subordinate at all times to the lien security title of any present deed to secure debt granted by Lessor which may now or future mortgage(s) on hereafter affect the Premises. Notwithstanding the automatic nature real property 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 which the Premises on forms a part, and to all renewals, modifications, consolidations, participations, replacements and extensions thereof. Upon Lessee’s written request, Lessor will use reasonable efforts to obtain from the terms otherwise set forth in this Lease provided that Tenant is not in default holder of its obligations under the Lease. Any subordination provision contained in the Lease, relating either any deed 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 secure debt affecting the Premises or to foreclose any mortgage or an agreement, in writing, in recordable form, for any other relief soughtitself, its successors and (b) Tenant's possession assigns, that the rights of Lessee under the Lease shall not be disturbed. Landlord agrees to deliver to Tenant letters from terminated, and the possession of Lessee shall not be disturbed by any holder of any deed to secure debt or by any proceeding on the debt which any such deed to secure debt secures, or by any person, firm or corporation whose rights superior were acquired as a result of such proceeding or by virtue of a right or power contained in any such deed to Tenantsecure debt or the bond or note secured thereby and that any sale at foreclosure will be subject to this Lease, including mortgages subject however, to the conditions requested by such holder of such deed to secure debt as a prerequisite to the execution of such agreement. Lessee agrees that, in the event of foreclosure of any such deed to secure debt or sale of the Premises under the power contained therein, Lessee will attorn to and ground lessorsaccept the purchaser at any such sale as Lessor for the balance of the then remaining Lease Term, recognizing Tenant's rights subject to all of the terms and conditions of the Lease. If Lessor shall notify Lessee of the placing of any deed to secure debt against the Premises, Lessee agrees that in the event of any act or omission by Lessor or any other occurrence which would give Lessee the right to terminate this Lease, to claim a partial or total eviction, or to reduce any rent payments hereunder, Lessee shall not exercise any such delivery right until (a) it has notified in writing the holder of any deed to take place as secure debt which at the time shall be a condition lien on the Premises and of which it has notice, of such act or omission, (b) a reasonable period, not exceeding thirty (30) days, for commencing the remedying of such act or omission shall have lapsed following the giving of such notice, and prior (c) Lessee or such holder, with reasonable diligence, shall not have so commenced and continue to remedy such act or omission or cause the Commencement Date of Lease. Anything same to the contrary notwithstanding, Landlord shall only use its best efforts to obtain non-disturbance agreement from its present mortgage lender(s)be remedied.