Common use of Mortgagee’s Rights Clause in Contracts

Mortgagee’s Rights. Tenant agrees, at any time from time to time during the Term, within fifteen (15) days of Landlord’s request, to deliver to Landlord the following: an executed and acknowledged instrument amending this Lease in such respects as may be required by any mortgagee, trustee, or beneficiary under any mortgage, deed of trust, prospective mortgage, or prospective deed of trust, provided that any such amendment shall not alter or impair any of Tenant’s obligations, rights, and remedies. Upon Landlord’s request, Tenant will execute from time to time during the Term such instruments which may be necessary or convenient to subordinate the rights of Tenant hereunder to any mortgage, deed of trust, or other encumbrance executed by Landlord, provided that such instrument does not alter or impair any of Tenant’s obligations, rights, and remedies, whether or not a foreclosure occurs.