Common use of MORTGAGES AND ENCUMBRANCES Clause in Contracts

MORTGAGES AND ENCUMBRANCES. In the event the Leased Premises are encumbered by a prior mortgage, Xxxxxx shall not have the right to suspend payment of any moneys due hereunder solely due to such prior mortgage, unless the prior mortgage is subject to a foreclosure action. Xxxxxx, however, shall have the right to obtain, at its own expense, a subordination of such mortgage and Xxxxxx agrees to cooperate in securing any subordinations of prior mortgages.

MORTGAGES AND ENCUMBRANCES. In the event the Leased Premises are encumbered by a prior mortgage, Xxxxxx shall not have the right to suspend payment of any moneys due hereunder solely due to such prior mortgage, unless the prior mortgage is subject to a foreclosure actionhereunder. Xxxxxx, however, shall have the right to obtain, at its own expense, a subordination of such mortgage and Xxxxxx agrees to cooperate in securing any subordinations of prior mortgagesmortgage.