Mortgagee Requirements. Tenant shall, at its own expense, comply with all reasonable notices of Landlord's mortgagee or other financial institution providing funds which are secured by a mortgage placed on the whole or any part of the real property of which the Demised Premises are a part, respecting all matters of occupancy, use, condition or maintenance of the Demised Premises, provided the same shall not unreasonably interfere with the conduct of Tenant's business nor materially limit or affect the rights of the parties under this Lease. Tenant shall, if so directed by Landlord's mortgagee or such other financial institution in writing, pay all Base Annual Rent, Additional Rent and other sums owed to Landlord directly to such mortgagee or other financial institution. Notwithstanding acceptance and execution of this Lease by the parties hereto, the terms hereof shall be automatically deemed modified, if so required, for the purpose of complying with or fulfilling the reasonable requirements of any mortgagee or trustee named or secured by a mortgage that may now or hereafter be placed upon or secured by the real property of which the Demised Premises are a part or any part thereof, or any other financial institution providing funds to finance or refinance the real property of which the Demised Premises are a part; provided, however, that such modification(s) shall not be in material derogation or diminution of any of the rights of the parties hereunder, nor materially increase any of the obligations or liabilities of the parties hereunder.
Mortgagee Requirements. Should any prospective First Mortgagee require a modification or modifications of this Lease, which modification or modifications will not cause an increased cost or expense to Tenant or in any other way materially and adversely change the rights and obligations of Tenant hereunder, in the reasonable judgment of Tenant, then and in such event, Tenant agrees that this Lease may be so modified and agrees to execute whatever documents are required therefor and deliver the same to Landlord within fifteen (15) days following the request therefor. Should any prospective Mortgagee or Ground Lessor require execution of a short form of lease for recording (containing, among other customary provisions, the names of the parties, a description of the Premises and the Term of this Lease), Tenant agrees to execute such short form of Lease and deliver the same to Landlord within fifteen (15) days following the request therefor.
Mortgagee Requirements. 21 (b) Notices to Mortgagee..................................................22
Mortgagee Requirements. Operator acknowledges and agrees that Owner and Operator’s rights and obligations hereunder shall be subject to the requirements of any Mortgagee or other lender regarding the Hotel, and to the extent that any Mortgagee or other lender imposes restrictions on the Hotel or obligations upon Owner which are greater than those set forth in this Agreement, the terms and conditions of the loan documents with such Mortgagee or other lender shall control, and, upon written notice from Owner as to the requirements thereof, Operator agrees to comply with those obligations thereunder which are within the scope of Operator’s duties under this Agreement and to execute an amendment to this Agreement reflecting any such additional obligations or duties required thereby.
Mortgagee Requirements. If the terms of any Mortgage requires that Landlord grant a security interest in or create another encumbrance on the Reserve, all or any part of the existing or future funds therein, or any general intangible in connection therewith, Landlord may grant such security interest or create such other encumbrance as may be necessary to satisfy the requirements of such Mortgage provided that the instrument granting such security interest or creating such other encumbrance shall expressly provide that such security interest or encumbrance is subject to the rights of Tenant with respect to the Reserve as set forth herein. The form and substance of such provision shall be subject to Tenant’s prior written approval, which approval shall not be unreasonably withheld, delayed or conditioned. If Landlord is required by the terms of any Mortgage to make deposits into a reserve for Capital Expenditures, Landlord obligations under Section 5.1.4 above shall be satisfied by making the deposits to Mortgagee in accordance with such requirements and the terms of this Section 5.1.6 shall be modified to the extent necessary to permit Landlord to comply with the requirements of the Mortgage.
Mortgagee Requirements. Tenant hereby agrees to cooperate with Landlord if Landlord should seek financing for the Premises or any portion thereof. Tenant agrees to comply with any reasonable requirements of mortgage, including, but not limited to, executing a subordination, adornment and non-disturbance agreement in a form agreeable to mortgagee, executing an Estoppel Certificate and making changes to this Lease as may be reasonably necessary to make this lease conform to the mortgage documents.
Mortgagee Requirements. Tenant shall within ten (10) days of request ---------------------- by Landlord deliver an executed and acknowledged instrument amending this Lease in such respects as may be required by any present or future mortgagee, provided that such amendment does not materially alter or impair Tenant's rights or remedies under this Lease or increase its rental burdens.
Mortgagee Requirements. Should any prospective First Mortgagee require a modification or modifications of this Lease, which modification or modifications will not cause an increased cost or expense to Tenant or in any other way materially and adversely change the rights and obligations of Tenant hereunder, in the reasonable judgment of Tenant, then and in such event, Tenant agrees that this Lease may be so modified and agrees to execute whatever documents are required therefor and deliver the same to Landlord within ten (10) business days following the request therefor. Should any prospective Mortgagee or Ground Lessor require execution of a short form of lease for recording (containing, among other customary provisions, the names of the parties, a description of the Premises and the Term of this Lease), Tenant agrees to execute such short form of Lease and deliver the same to Landlord within ten (10) business days following the request therefor. Should any prospective First Mortgagee notify Tenant in writing that said First Mortgagee has terminated Landlord’s license to collect rents and other monetary amounts under this Lease, Tenant shall thereafter remit all rent (and other monetary amounts required to be paid by Tenant under this Lease to Landlord, if any) directly to such First Mortgagee, and Landlord waives any right, claim, or demand it may have against Tenant by reason of Tenant’s payment of said sums to such First Mortgagee.
Mortgagee Requirements. Tenant, at its sole cost and expense, shall comply with all reasonable notices of any mortgagee with respect to all matters of use, occupancy, condition or maintenance of the Demised Premises, including without limitation, any notice directing Tenant to pay all Base Annual Rent and Additional Rent directly to such mortgagee, provided the same shall not unreasonably interfere with the conduct of Tenant’s business or materially limit or affect the rights of the parties under this Lease. If any prospective or current holder of a mortgage requires that modifications to this Lease be obtained, and provided that such modifications (a) are reasonable, (b) do not adversely affect in a material manner Tenant’s use of the Demised Premises as herein permitted, (c) do not increase the rent and other sums to be paid by Tenant, and (d) do not decrease Tenant’s rights or increase Tenant’s obligations under this Lease as determined by using the standard of a reasonably prudent Tenant, then Landlord may submit to Tenant an amendment to this Lease incorporating such required modifications, and Tenant shall execute, acknowledge and deliver such amendment to Landlord within five (5) days after Tenant’s receipt thereof.
Mortgagee Requirements. Tenant agrees to give any beneficiary of a mortgage or lessor under a ground lease, by certified mail, return receipt requested, a copy of any notice of default served upon Landlord, provided that prior to such notice Tenant has been notified in writing by Landlord (or such beneficiary or lessor) of the address of such beneficiary or lessor. Tenant further agrees that if Landlord shall have failed to cure such default within the time provided for in this Lease, then such mortgagees and/or
