Common use of Mortgage Subordination Clause in Contracts

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. (a) This Except as and to the extent applicable with respect to the Underlying Lien Claims, this Lease and the right, title and interest of Tenant Lessee 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 LandlordLessor, 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 Lessor Lien or secures Landlord Permitted Indebtedness. No Except as and to the extent applicable with respect to the Underlying Lien (other than any Permitted Lien) Claims, no Lien placed or permitted on the Leased Property by, through or under Landlord Lessor shall be superior or prior to this Lease or TenantLessee’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, LandlordLessor, Landlord Lessor Lender and Tenant Lessee have entered into an the 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 Lessor shall cause any subsequent Person holding or claiming any Lien in or to all or any portion of the Landlord Lessor Interests or Landlord Lessor Equity Interests, as a condition to the granting of same, to execute and deliver to Tenant an Lessee the SNDA.