Common use of Mortgagee Protection Clause Clause in Contracts

Mortgagee Protection Clause. Lessee agrees to give any mortgage and/or trust deed holders, by certified mail, a copy of any notice of default served upon Lessor. Lessee further agrees that if Lessor 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 such additional time as may be 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 pursued.

Mortgagee Protection Clause. Lessee agrees to give any mortgage and/or trust deed holders, by certified mail, a copy of any notice of default served upon Lessor. Lessee further agrees that if Lessor shall have failed to cure such default within the time provided for in this Lease, then then, except in the event of an emergency, the mortgagees and/or trust deed holders shall have such additional time as may be reasonably 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 pursued.

Mortgagee Protection Clause. Lessee agrees to give any mortgage and/or trust deed holdersholders whose name and address has theretofore been provided in writing to Lessee, by certified mail, a copy of any notice of default served upon Lessor. Lessee further agrees that if Lessor 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 such additional time as may be necessary to cure such default (including, but not limited to, commencement completion of foreclosure proceedings, proceedings if necessary to effect such a cure), in which event this Lease shall not be terminated while such remedies are being so pursued.