Common use of Mortgage Subordination Clause in Contracts

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. 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 fr om 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. 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 LandlordXxxxxxxx, or to any renewal, replacement or extension of any existing mortgage or mortgages or of any new mortgage or mortgages. Landlord Xxxxxxxx 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 Rentrent, 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 Xxxxx'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.