Common use of Mortgages Clause in Contracts

Mortgages. Tenant accepts this Lease subject and subordinate to any mortgage(s) and deeds of trust now or at any time hereafter constituting a first lien or charge upon the Property, or the improvements situated thereon, provided, however, that if the mortgagee, trustee, or holder of any such mortgage or deed of trust elects to have Tenant's interest in this Lease superior to any such instrument, then by notice to Tenant from such mortgagee, trustee, or trust deed holder, this Lease shall be deemed superior to such lien whether this Lease was executed before or after said mortgage or deed of trust so long as such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods). Tenant shall at any time hereafter on demand execute any instruments, releases or other documents which may be reasonably required by any such mortgagee for the purpose of subjecting and subordinating this Lease to the lien of any such mortgage, as may be the case, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify the terms of this Lease, to give the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of Deeds.

Appears in 2 contracts

Sources: Lease Agreement (Entrade Inc), Lease Agreement (Entrade Inc)

Mortgages. Tenant accepts this (a) This Lease subject and shall be subordinate to any mortgage(sdeed of trust, mortgage or other security instrument (a "Mortgage"), and any ground lease, master lease, or -------- primary lease (a "Primary Lease") and deeds of trust that now or at hereafter covers any time hereafter constituting a first lien or charge upon portion of ------------- the Property, Premises (the mortgagee under any Mortgage or the improvements situated thereonlessor under any Primary Lease is referred to herein as "Landlord's Mortgagee"), providedand to increases, -------------------- renewals, modifications, consolidations, replacements, and extensions thereof. However, any Landlord's Mortgagee may elect to subordinate its Mortgage or Primary Lease (as the case may be) to this Lease by delivering written notice thereof to Tenant. The provisions of this Section 21 shall be self- operative, and no further instrument shall be required to effect such subordination; however, Tenant shall from time to time within ten days after request therefor, execute any instruments that if may be required by any Landlord's Mortgagee to evidence the mortgagee, trustee, or holder subordination of this Lease to any such mortgage Mortgage or deed of trust elects Primary Lease. (b) Tenant shall attorn to have Tenantany party succeeding to Landlord's interest in this Lease superior the Premises, whether by purchase, foreclosure, deed in lieu of foreclosure, power of sale, termination of lease, or otherwise, upon such party's request, and shall execute such agreements confirming such attornment as such party may reasonably request. Tenant shall not seek to enforce any remedy it may have for any default on the part of Landlord without first giving written notice by certified mail, return receipt requested, specifying the default in reasonable detail to any Landlord's Mortgagee whose address has been given to Tenant, and affording such instrumentLandlord's Mortgagee a reasonable opportunity to perform Landlord's obligations hereunder. (c) Notwithstanding any such attornment or subordination of a Mortgage or Primary Lease to this Lease, then the Landlord's Mortgagee shall not be liable for any acts of any previous landlord, shall not be obligated to install the Initial Improvements, and shall not be bound by notice any amendment to which it did not consent in writing nor any payment of rent made more than one month in advance. (d) Notwithstanding the provisions of this Section 21 and except as provided in the Nondisturbance, Attornment and Subordination Agreement executed by Tenant from such mortgageeas provided below and Landlord's Mortgagee, trustee, or trust deed holder, this Lease shall be deemed superior to such lien whether this Lease was executed before or after said mortgage or deed of trust so long as such mortgageethis Lease is in effect, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's right of possession of to the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods). Tenant shall at any time hereafter on demand execute any instruments, releases or and other documents which may be reasonably required by any such mortgagee for the purpose of subjecting and subordinating this Lease to the lien of any such mortgage, as may be the case, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify the terms of this Lease, to give the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum rights arising out of this Lease shall not be signed affected or disturbed by each party any Landlord's Mortgagee in the exercise of its rights under the Mortgage, and filed with in the C▇▇▇ County Recorder event that any Landlord's Mortgagee shall agree to the sale of Deedsthe Land pursuant to its exercise of any rights and remedies under the Mortgage or otherwise, such sale shall be made subject to this Lease and the rights of the Tenant hereunder. (e) At the closing of Landlord's acquisition of the Land and the Building, Tenant agrees to execute and acknowledge the forms of Nondisturbance, Attornment and Subordination Agreement and Lender Estoppel attached as Exhibits C-1 and C-2 and deliver them to Landlord.

Appears in 2 contracts

Sources: Commercial Lease Agreement (Metasolv Software Inc), Commercial Lease Agreement (Metasolv Software Inc)

Mortgages. Tenant accepts this (a) This Lease subject and shall be subordinate to any mortgage(sdeed of trust, mortgage or other security instrument (a "Mortgage"), and any ground lease, master lease, or -------- primary lease (a "Primary Lease") and deeds of trust that now or at hereafter covers any time hereafter constituting a first lien or charge upon portion of ------------- the Property, Premises (the mortgagee under any Mortgage or the improvements situated thereonlessor under any Primary Lease is referred to herein as "Landlord's Mortgagee"), providedand to increases, -------------------- renewals, modifications, consolidations, replacements, and extensions thereof. However, any Landlord's Mortgagee may elect to subordinate its Mortgage or Primary Lease (as the case may be) to this Lease by delivering written notice thereof to Tenant. The provisions of this Section 21 shall be self-operative, and no further instrument shall be required to effect such subordination; however, Tenant shall from time to time within ten days after request therefor, execute any instruments that if may be required by any Landlord's Mortgagee to evidence the mortgagee, trustee, or holder subordination of this Lease to any such mortgage Mortgage or deed of trust elects Primary Lease. (b) Tenant shall attorn to have Tenantany party succeeding to Landlord's interest in the Premises, whether by purchase, foreclosure, deed in lieu of foreclosure, power of sale, termination of lease, or otherwise, upon such party's request, and shall execute such agreements confirming such attornment as such party may reasonably request. Tenant shall not seek to enforce any remedy it may have for any default on the part of Landlord without first giving written notice by certified mail, return receipt requested, specifying the default in reasonable detail to any Landlord's Mortgagee whose address has been given to Tenant, and affording such Landlord's Mortgagee a reasonable opportunity to perform Landlord's obligations hereunder. (c) Notwithstanding any such attornment or subordination of a Mortgage or Primary Lease to this Lease, the Landlord's Mortgagee shall not be liable for any acts of any previous landlord, shall not be obligated to install the Improvements, and shall not be bound by any amendment to which it did not consent in writing nor any payment of rent made more than one month in advance. (d) Notwithstanding the provisions of this Section 21 and except as provided in the Nondisturbance, Attornment and Subordination Agreement executed by Tenant as provided below and Landlord's Mortgagee, so long as this Lease superior is in effect, Tenant's right of possession to any such instrument, then by notice to Tenant from such mortgagee, trustee, or trust deed holder, the Premises and other rights arising out of this Lease shall not be deemed superior affected or disturbed by any Landlord's Mortgagee in the exercise of its rights under the Mortgage, and in the event that any Landlord's Mortgagee shall agree to the sale of the Land pursuant to its exercise of any rights and remedies under the Mortgage or otherwise, such lien whether sale shall be made subject to this Lease was executed before or after said mortgage or deed of trust so long as such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession the rights of the Premises so long as Tenant is not in default hereunder hereunder. (after any applicable notice and/or cure periods). Tenant shall at any time hereafter on demand execute any instruments, releases or other documents which may be reasonably required by any such mortgagee for e) Within thirty (30) days following the purpose of subjecting and subordinating this Lease to the lien of any such mortgage, as may be the case, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify the terms full execution of this Lease, Tenant agrees to give execute and acknowledge the mortgageeforms of Nondisturbance, trust deed holder or trustee copies of any notices delivered Attornment and Subordination Agreement and Lender Estoppel attached as Exhibits C-1 and C-2 and deliver them to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of Deeds.

Appears in 2 contracts

Sources: Commercial Lease Agreement (Metasolv Software Inc), Commercial Lease Agreement (Metasolv Software Inc)

Mortgages. (A) Subject to Subparagraph 12.1(E) below, upon request by any holder of a First Mortgage, Tenant accepts shall subordinate Tenant’s rights under this Lease subject to such First Mortgage, and to any advances to be made thereunder and the interest thereon, and to all renewals, modifications, replacements and extensions thereof. Tenant’s rights under this Lease shall not be subordinate to any mortgage(s) and deeds of trust now or at any time hereafter constituting a first lien or charge upon the Property, or the improvements situated thereon, provided, however, that if the mortgagee, trustee, or holder of the First Mortgage unless the holder thereof has requested that this Lease be subordinate thereto, provided that any such mortgage subordination shall be subject to Subparagraph 12.1(E) below. Any Mortgagee, whether the holder of the First Mortgage or deed of trust elects any other Mortgage affecting the Premises, may elect to have Tenant's interest in this Lease superior made prior to such Mortgage, and in the event of such election and upon notification by any such instrument, then by notice Mortgagee to Tenant from such mortgagee, trustee, or trust deed holderto that effect, this Lease shall be deemed superior prior in lien to any such lien Mortgage, whether this Lease was executed before is dated or filed prior to or subsequent to the date of such Mortgage. (B) Subject to Subparagraph 12.1(E) below, Tenant shall, in the event of exercise of the power of sale or deed in lieu of foreclosure under any Mortgage, attorn to and recognize such purchaser as landlord under this Lease; provided that said purchaser shall not be liable for any act or omission of any prior landlord or subject to any offsets or defenses which Tenant may have against any prior landlord or be bound by any amendment or modification of this Lease made without the prior written consent of such Mortgagee. Should any Mortgagee or purchaser require a separate agreement of attornment regarding the matters covered by this Lease, Tenant shall promptly, upon request, enter into any such attornment agreement. (C) At any time and from time to time, Tenant and Landlord shall, upon request from the other, execute, acknowledge and deliver. within ten (10) days after said receipt of such request, to the requesting party or any potential purchaser of the Premises, or to any Mortgagee or potential Mortgagee, an estoppel certificate or statement in writing certifying to all or any part of the following information as shall be requested, provided that such facts are true and ascertainable: (i) that this Lease constitutes the entire agreement between Landlord and Tenant, (ii) that this Lease is unmodified and in full force and effect (or, if there have been modifications, that this Lease is in full force and effect as modified and stating the modification), (iii) the specific itemized amounts of Aggregate Rent under this Lease and the dates to which such amounts have been paid, (iv) that there is no prepaid Aggregate Rent, (v) the amount of the Security Deposit, (vi) that the Premises have been satisfactorily completed, (vii) that Tenant has accepted possession of the Premises, (viii) that the Lease Term has commenced, (ix) that Tenant is in possession of the Premises, (x) that the actual Rent Commencement Date has occurred, (xi) that all conditions precedent to the validity and enforceability of this Lease have been fully satisfied, and (xii) that there are no defaults or offsets which Tenant or Landlord have against enforcement of this Lease by the requesting party. Tenant’s estoppel certificate or statement shall also contain such other information as may be reasonably or customarily required by the present or potential purchaser or Mortgagee, and shall be completed and delivered by Tenant as soon as practicable, but in no event more than ten (10) days after request therefor. (D) In the event that, in connection with obtaining financing or refinancing for the Premises, any banking, insurance or other recognized institutional lender shall request reasonable modifications in this Lease as a condition to such financing, Tenant shall not unreasonably withhold, delay or defer Tenant’s consent thereto, provided that such modifications shall be subject to Subparagraph 12.1(E) below and shall not materially increase the obligations of Tenant hereunder or materially adversely affect the interest of Tenant hereby created. (E) Notwithstanding anything to the contrary contained herein, Landlord hereby represents that, as of the Effective Date, there is no existing ground or underlying lease, mortgage or deed of trust so long as such mortgageeaffecting all or any part of the Premises. Furthermore, trust deed holder Tenant agrees that, provided that any future ground lessor or trustee enters into mortgagee shall agree to honor and abide by the terms of the Lease and give Tenant a non-disturbance agreement with Tenant agreement, in form mutually agreeable form, providing in effect that Tenant’s right to use and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession of occupy the Premises will not be deprived as a result of such termination or foreclosure, so long as Tenant is shall not be in default hereunder (after any applicable notice and/or cure periods). Tenant shall at any time hereafter on demand execute any instrumentsDefault, releases or other documents which may be reasonably required by any then in such mortgagee for event, the purpose of subjecting and subordinating this Lease to the lien of any such mortgage, as may be the case, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify the terms of this Lease, to give the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed by each party subordinate to any future ground lease, mortgage or deed of trust placed against the Premises, and filed with Tenant shall attorn to the C▇▇▇ County Recorder future ground lessor or mortgagee upon termination of Deedsthe ground lease or foreclosure of the mortgage or deed of trust, respectively.

Appears in 2 contracts

Sources: Industrial Lease Agreement (Premier Exhibitions, Inc.), Industrial Lease Agreement (Premier Exhibitions, Inc.)

Mortgages. Tenant accepts this Lease subject and subordinate to any mortgage(s) and deeds and/or deed(s) of trust now or at any time hereafter constituting a first lien or charge upon the Property, Premises or the improvements situated thereon, ; provided, however, that if the mortgagee, trustee, or holder of any such mortgage or deed of trust elects to have Tenant's interest in this Lease superior to any such instrument, then by notice to Tenant from such mortgagee, trustee, trustee or trust deed holder, this Lease shall will be deemed superior to such lien lien, whether this Lease was executed before or after said mortgage or deed of trust so long as such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods)trust. Tenant shall will at any time hereafter on demand execute and provide to Landlord within ten (10) business days of a request therefore, any commercially reasonable instruments, releases or other documents which may be reasonably required by any such mortgagee or trustee for the purpose of further subjecting and subordinating this Lease to the lien of any such mortgage, mortgage or deed to trust in form and substance as may be the case, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify the terms of this Lease, to give the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or reasonably required by such mortgagee, trust deed holder mortgagee or trustee). Notwithstanding the foregoing, and it shall be a condition precedent to any subordination that Tenant be provided that such mortgagee, trust deed holder or trustee enters into with a written non-disturbance agreement with in the form stipulated by Landlord’s lender (provided that: (i) Tenant shall be entitled to request of Landlord's lender commercially reasonable revisions to said form at its cost which costs include payment of any attorneys' fees charged to Landlord by Landlord's lender (as required pursuant reasonably documented by Landlord); and (ii) said form provides that, if the holder of any mortgage or deed of trust shall take title to the preceding sentence. At Premises through foreclosure or deed in lieu of foreclosure or otherwise, Tenant shall be allowed to continue in possession of the request of either Tenant or Landlord, a short-form or memorandum of Premises as provided in this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of Deedsso long as Tenant is not in default, beyond any applicable cure period).

Appears in 2 contracts

Sources: Lease Agreement (Precision Biosciences Inc), Lease Agreement (Precision Biosciences Inc)

Mortgages. A. Tenant accepts this Lease lease subject and subordinate to any mortgage(s) and deeds mortgage, deed of trust now or other lien presently existing or hereafter placed upon the Premises, and to any renewals and extensions thereof. Tenant agrees that any mortgagee shall have the right at any time to subordinate its mortgage, deed of trust or other lien to this lease; provided, however, notwithstanding that this lease may be (or made to be) superior to a mortgage, deed of trust or other lien, the mortgagee shall not be liable for prepaid rentals, security deposits and claims accruing during Landlord's ownership; further provided that the provisions of a mortgage, deed of trust or other lien relative to the rights of the mortgagee with respect to proceeds arising from an eminent domain taking (including a voluntary conveyance by Landlord) and provisions relative to proceeds arising from insurance payable by reason of damage to or destruction of the Leased Premises shall be prior and superior to any contrary provisions contained in this instrument with respect to the payment or usage thereof. Landlord is hereby irrevocably vested with full power and authority to subordinate this lease to any mortgage, deed of trust or other lien hereafter constituting a first lien or charge placed upon the Property, or the improvements situated thereon, premises and Tenant agrees upon demand to execute such further instruments subordinating this lease as Landlord may request; provided, however, that if the mortgageeLandlord shall, trusteeas a condition to this Lease, or holder of obtain from any such mortgage or deed mortgagee a written agreement that the rights of trust elects to have Tenant's interest Tenant shall remain in full force and effect during the term of this Lease superior to any such instrument, then by notice to Tenant from such mortgagee, trustee, or trust deed holder, this Lease shall be deemed superior to such lien whether this Lease was executed before or after said mortgage or deed of trust so long as such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises lease so long as Tenant shall continue to recognize and perform all of the covenants and conditions of this lease. B. At any time when the holder of an outstanding mortgage, deed of trust or other lien covering Landlord's interest in the premises has given Tenant written notice of its interest in this lease, Tenant may not exercise any remedies for default by Landlord hereunder unless and until the holder of the indebtedness secured by such mortgage, deed of trust or other lien shall have received written notice of such default and a reasonable time (not less than 30 days) shall thereafter have lapsed without the default having been cured. C. Tenant agrees that it will from time to time but no more often than semi-annually, upon request by Landlord execute and deliver to Landlord a written statement addressed to Landlord (or to a party designated by Landlord), which statement shall identify Tenant and this lease, shall certify that this lease is unmodified and in full force and effect (or if there have been modifications, that the name is in full force and effect as so modified), shall confirm that Landlord is not in default hereunder as to any obligations of Landlord under this lease (after or if Landlord is in default, specifying any applicable notice and/or cure periods). Tenant shall at any time hereafter on demand execute any instruments, releases or other documents which may be reasonably required by any such mortgagee for the purpose of subjecting and subordinating this Lease to the lien of any such mortgage, as may be the case, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify the terms of this Lease, to give the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trusteedefault), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of shall confirm Tenant's agreements contained above in this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of Deedsparagraph 19.

Appears in 2 contracts

Sources: Lease Agreement (Carlyle Golf Inc), Lease Agreement (Carlyle Golf Inc)

Mortgages. Tenant accepts this This Lease is and shall be subject and subordinate to any mortgage(s) and deeds and/or deed(s) of trust now or at any time hereafter constituting a first lien or charge upon the Property, or the improvements situated thereon, provided, however, that if the mortgagee, trustee, or holder of any such mortgage or deed of trust elects to have Tenant's ’s interest in this Lease superior to any such instrument, then by notice to Tenant from such mortgagee, trustee, trustee or trust deed holder, this Lease shall be deemed superior to such lien whether this Lease was executed before or after said mortgage or deed of trust so long as such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods)trust. Tenant shall at any time hereafter on demand execute any instruments, releases or other documents which may be reasonably required by any such mortgagee for the purpose of subjecting and subordinating this Lease to the lien of any such mortgage or for the purpose of evidencing the superiority of this Lease to the lien of any such mortgage, as may be the case, but or for no any other purpose whatsoever matters requested by Landlord’s mortgagee. At Tenant’s sole cost and expense, Landlord shall make reasonable and good faith efforts to obtain from its existing mortgagee a subordination, non-disturbance and attornment agreement (utilizing such mortgagee’s standard form of agreement) for Tenant within thirty (30) days after mutual Lease execution. In the event that Landlord is unable to obtain such agreement from its existing mortgagee within thirty (30) days after mutual Lease execution, Tenant may, at its sole option and as its sole and exclusive remedy (it being agreed by Landlord and Tenant expressly disclaims any obligation that the failure to modify deliver such agreement shall not constitute a default by Landlord under this Lease), terminate this Lease promptly thereafter by written notice to Landlord. In the terms event that Landlord delivers such agreement to Tenant prior to receipt of Tenant’s written notice to Landlord terminating this Lease (notwithstanding the passage of thirty (30) days or more after mutual Lease execution), Tenant’s option to terminate this Lease pursuant to this Paragraph 17 shall terminate and be of no further force and effect. Additionally, in the event Landlord has not delivered such agreement by the date that is thirty (30) days after mutual Lease execution and Tenant has not exercised its option to terminate this Lease within thirty (30) days after such date, then Tenant’s option to terminate this Lease pursuant to this Paragraph 17 shall be deemed waived and of no further force and effect. If Tenant exercises its option to terminate this Lease pursuant to this Paragraph 17, Tenant hereby acknowledges and agrees that Landlord shall have the right to use all sums paid to or provided for the benefit of Landlord as of the date of such termination, including, without limitation, the first month’s Base Rent, the Security Deposit, and the Letter of Credit (as defined in Paragraph 30 below), to pay for all Improvement Costs actually incurred by Landlord. For purposes of this Lease, all costs, expenses, fees and other charges related to give the mortgageeapproval, trust deed holder or trustee copies construction and installation of any notices delivered the Improvements, including, but not limited to, the matters expressly described in EXHIBIT C, shall be collectively referred to as the “Improvement Costs.” Prior to payment of the Improvement Costs to Landlord, or Tenant shall have the right to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee), and provided review the Improvement Costs to verify that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant all Improvement Costs are related to the preceding sentenceapproval, construction and installation of the Improvements, including, but not limited to, the matters expressly described in EXHIBIT C. Landlord shall not be paid or reimbursed for any costs, expenses, fees or other charges that are not related to the approval, construction and installation of the Improvements, including, but not limited to, the matters expressly described in EXHIBIT C. Upon full payment to Landlord of all Improvement Costs, Landlord shall promptly return to Tenant the remaining balance, if any, of such sums paid to or provided for the benefit of Landlord. At the request of either Tenant or Landlord, a short-form or memorandum The provisions of this Lease Paragraph 17 shall be signed by each party and filed with the C▇▇▇ County Recorder survive termination of Deedsthis Lease.

Appears in 2 contracts

Sources: Lease Agreement (Connecture Inc), Lease Agreement (Connecture Inc)

Mortgages. Tenant Lessee accepts this Lease subject and subordinate to any mortgage(s) and mortgages and/or deeds of trust now or at any time hereafter constituting a first lien or charge upon the PropertyPremises, or the improvements situated thereon, the Building or the Land, and to any and all increases, renewals, modifications, consolidations. replacements and extensions of such mortgages and deeds of trust; provided, however, that if the mortgagee, trustee, or holder of any such mortgage or deed of trust elects to have TenantLessee's interest in this Lease superior to any such instrument, then by notice to Tenant Lessee from such mortgagee, trustee, trustee or trust deed holder, this Lease shall be deemed superior to such lien lien, whether this Lease was executed before or after said mortgage or deed of trust so long as trust. The provisions of this Paragraph 20 shall be self-operative, and no further instrument shall be required to effect such mortgageesubordination of this Lease. Lessee shall however, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods). Tenant shall at any time hereafter on demand hereafter, within ten (10) days after demand, execute any instruments, releases or other documents which that may be reasonably required by any such mortgagee for the purpose of subjecting and subordinating this Lease to the lien of any such mortgage. If Lessee fails to execute the same within such ten (10) day period. Lessor is hereby authorized to execute the same as attorney-in-fact for Lessee. Lessee agrees to attorn upon demand to any mortgagee, trustee under a deed of trust or purchaser at a foreclosure sale or trustee's sale as Lessor under this Lease. The agreement of Lessee to attorn upon demand contained in the immediately preceding sentence shall survive any such foreclosure sale or trustee's sale. Lessee shall upon demand at any time or times, before or after any such foreclosure sale or trustee's sale, execute, acknowledge and deliver to any mortgagee, trustee under a deed of trust or purchaser at a foreclosure sale or trustee's sale any and all instruments and certificates that in the judgment of such party may be the casenecessary or proper to confirm or evidence such attornment, but for no other purpose whatsoever (and Tenant expressly disclaims Lessee hereby irrevocably appoints any obligation to modify the terms of this Lease, to give the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trustee under a deed of trust deed holder or purchaser at a foreclosure sale or trustee)'s sale as Lessee's agent and attorney-in-fact for the purpose of executing, acknowledging and provided that delivering any such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed by each party instruments and filed with the C▇▇▇ County Recorder of Deedscertificates.

Appears in 2 contracts

Sources: Commercial Lease Agreement (Details Inc), Commercial Lease Agreement (Ddi Corp)

Mortgages. Tenant accepts this Lease lease subject and subordinate to any mortgage(s) and deeds and/or deed(s) of trust now or at any time hereafter constituting a first lien or charge upon the Property, premises or the improvements situated thereon, provided, however, that if the mortgagee, trustee, or holder of any such mortgage or deed of trust elects to have Tenant's interest in this Lease lease superior to any such instrumentinstrument in whole or in part, then by notice to Tenant Tenant, from such mortgagee, trustee, trustee or trust deed holder, this Lease lease shall be deemed superior to such lien lien, whether this Lease lease was executed before or after said mortgage or deed of trust so long as such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods)trust. Tenant shall at any time hereafter on demand execute any instruments, releases or other documents which may be reasonably required by any such mortgagee for the purpose of subjecting and subordinating this Lease lease or making this lease superior to the lien of any such mortgage. Anything contained in this Paragraph to the contrary notwithstanding, as may the subordination of this Lease to any future mortgage encumbering the Building is conditioned upon the mortgagee's agreement that Tenant shall not be disturbed in its possession of the case, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation Premises pursuant to modify the terms of this Lease, to give . Such non- disturbance covenant shall be evidenced by the mortgagee's standard subordination, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance and attornment agreement, which Tenant agrees to execute, provided such agreement with does not impose upon Tenant any obligations in excess of those obligations assumed by Tenant under this lease. Landlord represents and warrants to Tenant that as required pursuant to of the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum date of this Lease shall be signed by each party and filed with lease there are no mortgages encumbering the C▇▇▇ County Recorder of DeedsBuilding.

Appears in 2 contracts

Sources: Lease Agreement (Compucom Systems Inc), Lease Agreement (Compucom Systems Inc)

Mortgages. Tenant accepts this The Lease subject and shall be subordinate to any mortgage(sdeed of trust, mortgage, or other security instrument (a "Mortgage"), and any ground lease, master lease, or primary lease (a "Primary Lease") and deeds of trust that now or at hereafter covers any time hereafter constituting a first lien or charge upon portion of the Property, Premises and Project (the mortgagee under any Mortgage or the improvements situated thereonlessor under any Primary Lease is referred to as "Landlord's Mortgagee"), providedand to increases, renewals, modifications, consolidations, replacements, and extensions of same. However, any Landlord's Mortgagee may elect to subordinate its Mortgage or Primary Lease (as the case may be) to the Lease by delivering written notice of such subordination to Tenant. The provisions of this paragraph shall be self- operative, and no further instrument shall be required to effect such subordination; however, Tenant shall, from time to time, within ten days after written request to do so by Landlord, execute any instruments that if may be required by any Landlord's Mortgagee to evidence the mortgagee, trustee, or holder subordination of the Lease to any such mortgage Mortgage or deed of trust elects Primary Lease. If Tenant fails to have execute the same within such ten-day period, Landlord may execute the same as attorney-in-fact for Tenant. Tenant shall attorn to any party succeeding to Landlord's interest in this Lease superior to any such instrumentthe Premises, then whether by notice to Tenant from such mortgageepurchase, trusteeforeclosure, deed in lieu of foreclosure, power of sale, termination of lease, or trust deed holderotherwise, this Lease provided that the successor agrees to assume the obligations and liabilities of Landlord, and upon such party's request, Tenant shall be deemed superior to execute such lien whether this Lease was executed before or after said mortgage or deed of trust so long agreements confirming such attornment as such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods)party may reasonably request. Tenant shall at not seek to enforce any time hereafter remedy it may have for any default on demand execute the part of Landlord without first giving written notice by certified mail, return receipt requested, specifying the default in reasonable detail to any instrumentsLandlord's Mortgagee whose address has been previously given to Tenant, releases or other documents which may be reasonably required by and affording such Landlord's Mortgagee a reasonable opportunity to perform Landlord's obligations under the Lease. Notwithstanding any such mortgagee for the purpose attornment or subordination of subjecting and subordinating this a Mortgage or Primary Lease to the lien Lease, Landlord's Mortgagee shall not be liable for any acts of any such mortgageprevious landlord, as may shall not be the case, but for no other purpose whatsoever (and obligated to install any Tenant expressly disclaims any obligation to modify the terms of this Lease, to give the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee)improvements, and provided that such mortgageeshall not be bound by any amendment to which it did not consent in writing, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant nor to the preceding sentence. At the request any payment of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of Deedsrent made more than one month in advance.

Appears in 2 contracts

Sources: Net Lease (Ebaseone Corp), Net Lease (Ebaseone Corp)

Mortgages. Tenant accepts At the option of the Landlord, this Lease shall be subject and subordinate to any mortgage(s) and all mortgages, charges and deeds of trust trust, which may now or at any time hereafter constituting a first lien affect the Leased Premises in whole or charge upon the Propertyin part, or the improvements situated thereon, provided, however, that if the mortgagee, trusteeLands, or holder of the Building whether or not any such mortgage mortgage, charge or deed of trust elects affects only the Leased Premises or the Lands or the Building or affects other premises as well. On request at any time and from time to have Tenant's interest in this Lease superior to time of the Landlord or of the mortgagee, chargee or trustee under any such instrumentmortgage, then by notice charge or deed of trust, the Tenant shall promptly, at no cost to Tenant the Landlord or mortgagee, chargee or trustee: (a) attorn to such mortgagee, chargee or trustee and become its tenant of the Leased Premises or the tenant of the Leased Premises of any purchaser from such mortgagee, trusteechargee or trustee in the event of an exercise of any permitted power of sale contained in any such mortgage, or trust deed holder, this Lease shall be deemed superior to such lien whether this Lease was executed before or after said mortgage charge or deed of trust so long as for the then unexpired residue of the Term on the terms herein contained; and/or (b) postpone and subordinate this Lease to such mortgage, charge or deed of trust to the intent that this Lease and all right, title and interest of the Tenant in the Leased Premises shall be subject to the rights of such mortgagee, trust deed holder chargee or trustee enters into a non-disturbance agreement with Tenant in form as fully as if such mortgage, charge or deed of trust had been executed and substance satisfactory to Tenant pursuant to which registered and the money thereby secured had been advanced before the execution of this Lease (and notwithstanding any authority or consent of such mortgagee, trust deed holder or trustee, express or implied, to the making of this Lease), provided that the applicable mortgagee, chargee or trustee agrees, not to disturb Tenant's thereunder has agreed in writing with the Tenant that the Tenant shall have undisturbed possession of the Leased Premises so as long as Tenant it is not in default hereunder (after any applicable notice and/or cure periods)under the Lease. Tenant Any such attornment or postponement and subordination shall at any time hereafter on demand execute any instrumentsextend to all renewals, releases or other documents which may be reasonably required by any such mortgagee for the purpose of subjecting modifications, consolidations, replacements and subordinating this Lease to the lien extension of any such mortgage, as charge or deed of trust and every instrument supplemental or ancillary thereto or in implementation thereof. The Tenant shall forthwith execute any instruments of attornment or postponement and subordination which may be the case, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify the terms of this Lease, so requested to give the mortgagee, trust deed holder or trustee copies of any notices delivered effect to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of DeedsSection.

Appears in 2 contracts

Sources: Lease Agreement (Hydrogenics Corp), Lease (Hydrogenics Corp)

Mortgages. Tenant accepts this Lease subject and subordinate to any mortgage(s) and deeds ground lease, mortgage and/or deed of trust now or at any time hereafter constituting a first lien or charge encumbrance upon the Property, or the improvements situated thereon, provided, however, that if the mortgagee, trustee, or holder of Premises. Notwithstanding any such mortgage subordination, Tenant's right to quiet possession of the Premises shall not be disturbed if Tenant is not in default and so long as Tenant shall pay the Rent and observe and perform all of its obligations hereunder, unless this Lease is otherwise terminated pursuant to its terms. If any ground lessor, mortgagee or beneficiary under a deed of trust elects to have Tenant's interest in this Lease superior to any such instrument, then by notice to Tenant from such mortgageeground lessor, trustee, mortgagee or trust deed holderbeneficiary, this Lease shall be deemed superior to such lien ground lease or lien, whether this Lease was executed before or after said ground lease, mortgage or deed of trust so long as such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods)trust. Tenant shall at any time hereafter on demand execute any instruments, releases or other documents which may be reasonably required by any such ground lessor or mortgagee for the purpose of attornment or subjecting and subordinating this Lease to any ground lease or the lien of any such mortgage. Tenant's failure to execute each instrument, release or document within ten (10) days after written demand shall constitute an event of default by Tenant hereunder without further notice to Tenant, or at Landlord's option Landlord shall execute such instrument, release or document on behalf of Tenant as may be the caseTenant's attorney-in-fact. Tenant does hereby make, but for no other purpose whatsoever (constitute and Tenant expressly disclaims any obligation to modify the terms of this Leaseirrevocably appoint Landlord as Tenant's attorney-in-fact, coupled with an interest, and in Tenant's name, place and stead, to give the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or execute such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement documents in accordance with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of DeedsParagraph 21.

Appears in 1 contract

Sources: Standard Industrial Lease Agreement (Quaker Fabric Corp /De/)

Mortgages. Tenant accepts this (a) This Lease subject and shall be subordinate to any mortgage(sdeed of trust, mortgage or other security instrument (a "MORTGAGE"), and any ground lease, master lease, -------- or primary lease (a "PRIMARY LEASE") and deeds of trust that now or at hereafter covers any time hereafter constituting a first lien or charge upon portion ------------- of the Property, Premises (the mortgagee under any Mortgage or the improvements situated thereonlessor under any Primary Lease is referred to herein as "LANDLORD'S MORTGAGEE"), providedand to -------------------- increases, howeverrenewals, modifications, consolidations, replacements, and extensions thereof; provided that if the mortgageesubordination of this Lease to any Mortgage or Primary Lease is conditioned upon Landlord's Mortgagee's execution and delivery of a subordination, trusteenon-disturbance and attornment agreement substantially in the form of Exhibit D or, at Landlord's election, another form which is --------- reasonably acceptable to Tenant (the "SNDA"). However, any Landlord's Mortgagee may elect to subordinate its ---- Mortgage or holder Primary Lease (as the case may be) to this Lease by delivering written notice thereof to Tenant. Tenant shall from time to time within ten days after request therefor, execute any instruments that may be required by any Landlord's Mortgagee to further evidence the subordination of this Lease to any such mortgage Mortgage or deed of trust elects Primary Lease, including without limitation the SNDA. If Tenant fails to have execute the same within such ten-day period, Landlord may execute the same as attorney-in-fact for Tenant. (b) Tenant shall attorn to any party succeeding to Landlord's interest in this Lease superior to any such instrumentthe Premises, then whether by notice to Tenant from such mortgageepurchase, trusteeforeclosure, deed in lieu of foreclosure, power of sale, termination of lease, or trust deed holderotherwise, this Lease upon such party's request, and shall be deemed superior to execute such lien whether this Lease was executed before or after said mortgage or deed of trust so long agreements confirming such attornment as such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods)party may reasonably request. Tenant shall at not seek to enforce any time hereafter remedy it may have for any default on demand execute the part of Landlord without first giving written notice by certified mail, return receipt requested, specifying the default in reasonable detail to any instrumentsLandlord's Mortgagee whose address has been given to Tenant, releases or other documents which may be reasonably required by and affording such Landlord's Mortgagee a reasonable opportunity to perform Landlord's obligations hereunder. (c) Notwithstanding any such mortgagee for the purpose attornment or subordination of subjecting and subordinating this a Mortgage or Primary Lease to the lien of any such mortgage, as may be the case, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify the terms of this Lease, to give the mortgagee, trust deed holder or trustee copies Landlord's Mortgagee shall not be liable for any acts of any notices delivered previous landlord, shall not be obligated to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee)install the Interior Improvements, and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant shall not be bound by any amendment to the preceding sentence. At the request which it did not consent in writing nor any payment of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of Deedsrent made more than one month in advance.

Appears in 1 contract

Sources: Commercial Lease Agreement (Peerless Group Inc)

Mortgages. Tenant accepts this This Lease subject and shall be subordinate to any mortgage(s) and deeds deed of trust trust, mortgage, or other security instrument (a "MORTGAGE"), or any ground lease, master lease, or primary lease (a "PRIMARY LEASE"), that now or at hereafter covers all or any time hereafter constituting a first lien or charge upon part of the Property, Premises (the mortgagee under any Mortgage or the improvements situated thereonlessor under any Primary Lease is referred to herein as "LANDLORD'S MORTGAGE"). However, providedas a condition to such subordination, howeverthe Landlord's Mortgagee must execute, that if the mortgageeacknowledge, trustee, or holder of any such mortgage or deed of trust elects to have Tenant's interest in this Lease superior to any such instrument, then by notice and deliver to Tenant from such mortgageea subordination, trustee, or trust deed holder, this Lease shall be deemed superior to such lien whether this Lease was executed before or after said mortgage or deed of trust so long as such mortgagee, trust deed holder or trustee enters into a non-disturbance disturbance, and attornment agreement with Tenant in the same form as EXHIBIT E hereto (which may have non-substantive changes thereto to reflect changes in factual matters) or, at Landlord's option, another form whose form and substance satisfactory are acceptable to Tenant pursuant (an "SNDA"), Tenant shall execute, acknowledge, and deliver an SNDA within ten days after Landlord's request therefor. Notwithstanding the subordination provided herein, any Landlord's Mortgagee may subordinate its Mortgage or Primary Lease (as the case may be) to which this Lease. Tenant shall execute such mortgageedocumentation as the Landlord's Mortgagee may reasonably request evidencing the subordination of this Lease to such Landlord's Mortgagee's Mortgage or Primary Lease or, trust deed holder if the Landlord's Mortgagee so elects, the subordination of such Landlord's Mortgagee's Mortgage or trustee agrees, not Primary Lease to disturb Tenantthis Lease. If at the closing of Landlord's possession acquisition of the Premises so long as ("CLOSING"), an SNDA has not deposited into escrow, whose delivery is subject only to the consummation of the Closing, then either Landlord or Tenant is not in default hereunder (after any applicable notice and/or cure periods). Tenant shall at any time hereafter on demand execute any instruments, releases or other documents which may be reasonably required by any such mortgagee for the purpose of subjecting and subordinating terminate this Lease before Closing occurs. Landlord represents and warrants that after giving effect to Closing, the lien of any such mortgageonly Mortgage on the Premises will be held by Principal Commercial Advisors, as may Inc. and there will be no Primary Lease affecting the case, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify the terms of this Lease, to give the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of DeedsPremises.

Appears in 1 contract

Sources: Commercial Lease Agreement (Alliance Data Systems Corp)

Mortgages. Tenant A. Lessee accepts this Lease subject and subordinate to any mortgage(s) and mortgages and/or deeds of trust now or at any time hereafter constituting a first lien or charge upon the Property, Premises or the improvements situated thereon, Improvements; provided, however, that if the mortgagee, trustee, or holder of any such mortgage or deed of trust elects to have TenantLessee's interest in this Lease superior to any such instrument, then by notice to Tenant Lessee from such mortgagee, trustee, trustee or trust deed holder, this Lease shall be deemed superior to such lien lien, whether this Lease was executed before or after said mortgage or deed of trust. In the event any mortgage and/or deed of trust so long as is filed against the Premises, Lessor shall cause such mortgagee, trustee or holder of any such mortgage or deed of trust deed holder or trustee enters into to execute a subordination and non-disturbance agreement which Lessee shall execute, provided that Lessee shall agree to attornment provisions and other commercially reasonable terms, as Lessor's mortgagee may require in connection with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgageeagreement. Lessee, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods). Tenant shall at any time hereafter on demand demand, shall execute any instruments, releases or other documents which that may be reasonably required by any such mortgagee for the purpose of subjecting and subordinating this Lease to the lien of any such mortgage. B. At any time when the holder of an outstanding mortgage, as may be deed of trust or other lien covering Lessor s interest in the case, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify the terms Premises has given Lessee written notice of its interest in this Lease, Lessee may not exercise any remedies for default by Lessor hereunder unless and until the holder of the indebtedness secured by such mortgage, deed of trust or other lien shall have received written notice of such default and the same time period afforded Lessor to give cure such default shall thereafter have elapsed without the mortgagee, trust deed holder or trustee copies of any notices delivered default having been cured. Opportunity to Landlord, or cure extended to waive any claims which Tenant Lessor's mortgagee may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed by each party and filed coincident with the C▇▇▇ County Recorder of Deedscure period referred to paragraph 19G for defaults by Lessor.

Appears in 1 contract

Sources: Standard Industrial Lease Agreement (Gadzooks Inc)

Mortgages. Tenant accepts this Lease subject and subordinate to any mortgage(s) and mortgages and/or deeds of trust now or at any time hereafter constituting a first lien or charge upon the Property, Premises or the improvements situated thereonthereon or any of the Buildings or the Project, provided, however, that if the mortgagee, trustee, trustee or holder of any such mortgage or deed of trust elects to have Tenant's interest in this Lease superior to any such instrument, then by notice to Tenant from such mortgagee, trustee, trustee or trust deed holder, this Lease shall be deemed superior to such lien lien, whether this Lease was executed before or after said mortgage or deed of trust. Landlord represents that currently there is no mortgage or deed of trust so long as encumbering the Premises. The provisions of this Paragraph 21 shall be self- operative, and no further instrument shall be required to effect such mortgageesubordination; however, Landlord shall deliver to Tenant, and Tenant shall execute from time to time within ten days after delivery thereof to Tenant, a commercially reasonable instrument from each of Landlord's mortgages, trustees, or holders evidencing the subordination of this Lease to any such mortgage or deed of trust deed holder or trustee enters into (and Landlord will make best efforts to cause such instrument to include a commercially reasonable non-disturbance agreement with Tenant provision in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb favor of Tenant's possession of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods). Tenant shall at any time hereafter on demand execute any instruments, releases or other documents which may be reasonably required by any such mortgagee for the purpose of subjecting and subordinating not terminate this Lease or pursue any other remedy available to Tenant hereunder for any default on the lien part of Landlord without first giving written notice by certified or registered mail, return receipt requested, to any mortgagee, trustee or holder of any such mortgagemortgage or deed of trust, as may be the case, but for no other purpose whatsoever (name and Tenant expressly disclaims any obligation to modify the terms post office address of this Lease, to give the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or has received written notice, specifying the default in reasonable detail and affording such mortgagee, trust deed trustee or holder or trustee), and provided that a reasonable opportunity (but in no event less than thirty (30) days from the date of Tenant's notice of default to such mortgagee, trust deed holder trustee or holder, which 30-day period may overlap in whole or in part with Landlord's applicable cure period) to make performance, at its election, for and on behalf of Landlord. Notwithstanding the foregoing, in an emergency, Tenant may pursue any remedy (other than termination) for a Landlord default before giving notice of such default to Landlord of Landlord's mortgagee, trustee enters into a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of Deedsholder.

Appears in 1 contract

Sources: Lease Agreement (Luminex Corp)

Mortgages. Tenant ▇▇▇▇▇▇ accepts this Lease subject and subordinate to any mortgage(s) and mortgages and/or deeds of trust now or at any time hereafter constituting a first lien or charge upon the Property, Premises or the improvements situated thereon, thereon or the Building of which the Premises are a part; provided, however, that if the mortgagee, trustee, or holder of any such mortgage or deed of trust elects to have Tenant's ▇▇▇▇▇▇’s interest in this Lease superior to any such instrument, then by notice to Tenant from such mortgagee, trustee, trustee or trust deed holder, this Lease shall be deemed superior to such lien lien, whether this Lease was executed before or after said mortgage or deed of trust so long as such mortgageetrust. Tenant, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods). Tenant shall at any time hereafter on within fifteen (15) days after demand therefor, shall execute any instruments, releases or other documents which that may be reasonably required by any such mortgagee mortgagee, trustee or holder for the purpose of subjecting and subordinating this Lease to the lien of any such mortgagemortgage or deed of trust. ▇▇▇▇▇▇▇▇ agrees to obtain and deliver to Tenant a subordination non-disturbance and attornment agreement in substantially the form attached hereto as Exhibit “H” and made a part hereof (“SNDA”) executed by ▇▇▇▇▇▇▇▇’s current mortgagee with respect to the Building. ▇▇▇▇▇▇ agrees to enter into the SNDA with such mortgagee promptly upon ▇▇▇▇▇▇▇▇’s request therefor. Notwithstanding the foregoing, the subordination of this Lease to any mortgage or deed of trust that is hereafter placed upon the Building is expressly conditioned upon Tenant and the mortgagee or beneficiary under any such mortgage or deed of trust entering into an SNDA in a form reasonably acceptable to Tenant (Tenant hereby agreeing that an SNDA substantially in the form that is attached hereto as Exhibit “H” and made a part hereof is acceptable to Tenant). ▇▇▇▇▇▇ agrees to enter into such SNDA with any such mortgagee or beneficiary promptly upon ▇▇▇▇▇▇▇▇’s request therefor. If any future mortgagee or beneficiary under a mortgage or deed of trust hereafter placed upon the Building desires to subordinate its mortgage or deed of trust to this Lease, ▇▇▇▇▇▇ agrees that it shall promptly execute such instrument as may be the case, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation reasonably required by such mortgagee or beneficiary in order to modify the terms of this Lease, to give the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or effect such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of Deedssubordination.

Appears in 1 contract

Sources: Lease Agreement (Worldwater & Solar Technologies Corp.)

Mortgages. Landlord agrees to and shall deliver to Tenant, prior to the Commencement Date, an SNDA (as hereafter defined) for any mortgage and deed of trust constituting a lien on the Premises as of the Commencement Date. Subject to receipt of an SNDA therefor, Tenant accepts this Lease subject and subordinate to any mortgage(s) and deeds existing or future mortgage and/or deed of trust now or at any time hereafter constituting a first lien or charge upon on the Property, or the improvements situated thereon, Premises; provided, however, that if the mortgagee, trustee, trustee or holder of any such mortgage or deed of trust (“Mortgage Holder”) elects to have Tenant's ’s interest in this Lease superior to any such instrument, then by notice to Tenant from such mortgagee, trustee, or trust deed holderMortgage Holder, this Lease shall be deemed superior to such lien lien, whether this Lease was executed before or after said mortgage or deed of trust so long as trust. Tenant, upon receipt of an executed SNDA from any such mortgageeMortgage Holder, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory agrees to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods). Tenant shall at any time hereafter on demand execute any instruments, releases or other documents which that may be reasonably required by any such mortgagee Mortgage Holder for the purpose of subjecting and subordinating this Lease to the lien of any such mortgageMortgage Holder. Tenant shall not terminate this Lease or pursue any other remedy available to Tenant hereunder for any default on the part of Landlord without first giving written notice by certified or registered mail, as may be the case, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify the terms of this Leasereturn receipt requested, to give any Mortgage Holder, the mortgagee, trust deed holder or trustee copies name and address of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or has received written notice, specifying the default in reasonable detail and affording such mortgageeMortgage Holder a reasonable opportunity (but in no event less than thirty (30) days) to cure Landlord’s default, trust deed holder or trustee)at its election, for and provided that such mortgagee, trust deed holder or trustee enters into on behalf of Landlord. The term “SNDA” shall mean and refer to a subordination and non-disturbance agreement with agreement, in written and recordable form reasonably acceptable to Tenant, which states that, so long as Tenant as required pursuant is not in default of its obligations hereunder. Tenant’s right to use and possess the Premises for the purposes and subject to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum terms and provisions of this Lease shall not be signed disturbed should the Mortgage Holder succeed to Landlord’s interest in the Premises by each party and filed with foreclosure of the C▇▇▇ County Recorder of Deedslien or security interest held by the Mortgage Holder executing such agreement, or otherwise.

Appears in 1 contract

Sources: Lease Agreement (Staktek Holdings Inc)

Mortgages. Tenant accepts this Lease This Agreement is subject and subordinate to any mortgage(sall Mortgages (as defined below) and deeds of trust now or at any time hereafter constituting placed upon a first lien or charge upon Site by Lessor, and to the Property, or the improvements situated thereon, provided, however, that if the mortgagee, trustee, or holder provisions of any such mortgage or deed easement, operating agreement, declaration, restrictive covenant, and all other encumbrances and matters of trust elects public record applicable to have Tenant's interest in the land related thereto. Any Holder (as defined below) may elect to make this Lease superior to any such instrument, then by notice to Tenant from such mortgagee, trustee, or trust deed holder, this Lease shall be deemed superior to such lien whether this Lease was executed before or after said mortgage or deed of trust so long as such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods). Tenant shall at any time hereafter on demand execute any instruments, releases or other documents which may be reasonably required by any such mortgagee for the purpose of subjecting and subordinating this Lease Agreement prior to the lien of its Mortgage, by written notice to Lessee and Lessee shall execute such documentation as Lessor or any Holder may reasonably request from time to time, in order to confirm the matters set forth in this Paragraph. If any foreclosure proceedings regarding a Site are initiated by any Holder or if any mortgage or deed in lieu is granted or any ground lease is terminated, Lessee agrees, upon written notification of any such mortgageHolder, as may be the casemortgagee or purchaser at foreclosure sale, but for no other purpose whatsoever to attorn to such party and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornment (and Tenant expressly disclaims such Holder, mortgagee or purchaser shall agree to accept this Agreement and not disturb Lessee's occupancy, so long as Lessee does not default under this Agreement). In the event of attornment, provided that Lessee has received prior notice of the identity and address of the Holder, no Holder shall be: (i) liable for any obligation act or omission of Lessor, or subject to modify the terms any offset or defense which Lessee might have against Lessor of which Holder has not been given notice by Lessee (prior to such Holder becoming lessor), or (ii) bound by any future modification of this LeaseAgreement unless consented to by such Holder. "Mortgage" means all mortgages, to give deeds of trust, ground leases and other such encumbrances now or hereafter placed upon a Site or any part thereof, and all renewals, modifications, consolidations, replacement or extensions thereof, and all indebtedness now or hereafter secured thereby and all interest therein. "Holder" means the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee)Mortgage at the time in question, and provided that where such mortgageeMortgage is a ground lease, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant such term shall refer to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of Deedsground lease.

Appears in 1 contract

Sources: Master Antenna Site Lease (LCC International Inc)

Mortgages. Tenant accepts this (a) This Lease subject and shall be subordinate to any mortgage(sdeed of trust, mortgage or other security instrument (a "MORTGAGE"), and any ground lease, master lease, or primary lease (a "PRIMARY LEASE") and deeds of trust that now or at hereafter covers any time hereafter constituting a first lien or charge upon portion of the Property, Premises (the mortgagee under any Mortgage or the improvements situated thereonlessor under any Primary Lease is referred to herein as "LANDLORD'S MORTGAGEE"), providedand to increases, renewals, modifications, consolidations, replacements, and extensions thereof. However, any Landlord's Mortgagee may elect to subordinate its Mortgage or Primary Lease (as the case may be) to this Lease by delivering written notice thereof to Tenant. The provisions of this Section 21 shall be self-operative, and no further instrument shall be required to effect such subordination; however, Tenant shall from time to time within ten (10) days after request therefor, execute any instruments that if may be required by any Landlord's Mortgagee to evidence the mortgagee, trustee, or holder subordination of this Lease to any such mortgage Mortgage or deed of trust elects Primary Lease. If Tenant fails to have execute the same within such ten-day period, Landlord may execute the same as attorney-in-fact for Tenant. (b) Tenant shall attorn to any party succeeding to Landlord's interest in this Lease superior to any such instrumentthe Premises, then whether by notice to Tenant from such mortgageepurchase, trusteeforeclosure, deed in lieu of foreclosure, power of sale, termination of lease, or trust deed holderotherwise, this Lease upon such party's request, and shall be deemed superior to execute such lien whether this Lease was executed before or after said mortgage or deed of trust so long agreements confirming such attornment as such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods)party may reasonably request. Tenant shall at not seek to enforce any time hereafter remedy it may have for any default on demand execute the part of Landlord without first giving written notice by certified mail, return receipt requested, specifying the default in reasonable detail to any instrumentsLandlord's Mortgagee whose address has been given to Tenant, releases or other documents which may be reasonably required by and affording such Landlord's Mortgagee a reasonable opportunity to perform Landlord's obligations hereunder. (c) Notwithstanding any such mortgagee for the purpose attornment or subordination of subjecting and subordinating this a Mortgage or Primary Lease to the lien of any such mortgage, as may be the case, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify the terms of this Lease, to give the mortgagee, trust deed holder or trustee copies Landlord's Mortgagee shall not be liable for any acts of any notices delivered to previous Landlord, or shall not be obligated to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee)install the Initial Improvements, and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant shall not be bound by any amendment to the preceding sentence. At the request which it did not consent in writing nor any payment of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of Deedsrent made more than one month in advance.

Appears in 1 contract

Sources: Commercial Lease Agreement (At Track Communications Inc)

Mortgages. Tenant accepts this Lease subject and subordinate to all Ground Leases now or hereafter existing and all renewals, modifications, consolidations, replacements and extensions thereof, and any mortgage(smortgages and/or deed(s) and deeds of trust now or at any time hereafter constituting a first lien or charge upon the PropertyPremises and/or the Complex (each a “Security Instrument”) and all renewals, or the improvements situated thereonmodifications, consolidations, replacements and extensions thereof; provided, however, that the foregoing subordination in respect of any Security Instrument placed upon the Premises after the date hereof shall not become effective until and unless the applicable ground lessor or holder delivers to Tenant a non-disturbance agreement (a “Non-Disturbance Agreement”) in recordable form which provides that if no Event of Default has occurred and is continuing, such Lender will not disturb Tenant’s right of occupancy of the Premises in accordance with the terms and provisions of this Lease in the event of a foreclosure or termination, as applicable, of any such Security Instrument (a Non-Disturbance Agreement may also include Tenant’s agreement to attorn as set forth below and will contain such other provisions as the applicable ground lessor or holder shall require in connection therewith provided that such provisions will not in any way materially change the rights and obligations of Tenant under this Lease or materially reduce the obligations of Landlord under this Lease). Although the subordination in the immediately preceding sentence shall be self-operating (subject to the delivery of the required Non-Disturbance Agreement), Tenant, or its successors in interest, shall, within ten (10) business days after its receipt of Landlord’s request, execute and deliver any and all Non-Disturbance Agreements delivered to Tenant by Landlord. If any ground lessor or the mortgagee, trustee, trustee or holder of any such mortgage or deed of trust Security Instrument elects to have Tenant's ’s interest in this Lease superior to any such instrumentthe applicable Ground Lease or Security Instrument, then by notice to Tenant from such ground lessor, mortgagee, trustee, trustee or trust deed holder, this Lease shall be deemed superior to such the applicable Ground Lease or the applicable Security Instrument and the lien and/or security interest evidenced thereby, whether this Lease was executed before or after said mortgage such Ground Lease or deed of trust so long as such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods)Security Instrument. Tenant shall at any time hereafter on demand shall, within ten (10) business days after its receipt thereof, execute any instruments, releases or other documents or agreements which may be reasonably required by any such mortgagee Mortgagee for the purpose of subjecting and subordinating this any Ground Lease to or Security Instrument and the lien of any such mortgage, as may be the case, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation and/or security interest evidenced thereby to modify the terms of this Lease, to give the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of Deeds.

Appears in 1 contract

Sources: Lease Agreement (Aquilex Corp)

Mortgages. Tenant accepts this Lease subject and subordinate to any mortgage(s) and mortgages and/or deeds of trust now or at any time hereafter constituting a first lien or charge upon the PropertyPremises, or the improvements situated thereon, the Building or the Land, and to any and all increases, renewals, modifications, consolidations, replacements and extensions of such mortgages and deeds of trust; provided, however, that if the mortgagee, trustee, or holder of any such mortgage or deed of trust elects to have Tenant's interest in this Lease superior to any such instrument, then by notice to Tenant from such mortgagee, trustee, trustee or trust deed holder, this Lease shall be deemed superior to such lien lien, whether this Lease was executed before or after said mortgage or deed of trust so long as trust. The provisions of this Paragraph 20. shall be self-operative, and no further instrument shall be required to effect such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession subordination of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods)this Lease. Tenant shall however, at any time hereafter on demand hereafter, within ten (10) days after demand, execute any instruments, releases or other documents which that may be reasonably required by any such mortgagee for the purpose of subjecting and or subordinating this Lease to the lien of any such mortgage. If Tenant fails to execute the same within such ten (10) day period, Landlord is hereby authorized to execute the same as attorney-in- fact for Tenant. Tenant agrees to attorn upon demand to any mortgagee, trustee under a deed of trust or purchaser at a foreclosure sale or trustee's sale as Landlord under this Lease. The agreement of Tenant to attorn upon demand contained in the immediately preceding sentence shall survive any such foreclosure sale or trustee's sale. Tenant shall upon demand at any time or times, before or after any such foreclosure sale or trustees sale execute, acknowledge and deliver to any mortgagee, trustee under a deed of trust or purchaser at a foreclosure sale or trustee's sale any and all instruments and certificates that in the judgment of such party may be the casenecessary or proper to confirm or evidence such attornment, but for no other purpose whatsoever (and Tenant expressly disclaims hereby irrevocably appoints any obligation to modify the terms of this Lease, to give the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trustee under a deed of trust deed holder or purchaser at a foreclosure sale or trustee)'s sale as Tenant's agent and attorney-in-fact for the purpose of executing, acknowledging and provided that delivering any such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed by each party instruments and filed with the C▇▇▇ County Recorder of Deedscertificates.

Appears in 1 contract

Sources: Standard Industrial Lease Agreement (Access Pharmaceuticals Inc)

Mortgages. Tenant accepts this (a) This Lease subject and shall be subordinate to any mortgage(sdeed of trust, mortgage or other security instrument (a “Mortgage”), and any ground lease, master lease, or primary lease (a “Primary Lease”) and deeds of trust that now or at hereafter covers any time hereafter constituting a first lien or charge upon portion of the Property, Premises (the mortgagee under any Mortgage or the improvements situated thereonlessor under any Primary Lease is referred to herein as “Landlord’s Mortgagee”), providedand to increases, renewals, modifications, consolidations, replacements, and extensions thereof. However, any Landlord’s Mortgagee may elect to subordinate its Mortgage or Primary Lease (as the case may be) to this Lease by delivering written notice thereof to Tenant. The provisions of this Section 21 shall be self-operative, and no further instrument shall be required to effect such subordination; however, Tenant shall from time to time within ten (10) days after request therefor, execute any instruments that if may be required by any Landlord’s Mortgagee to evidence the mortgagee, trustee, or holder subordination of any such mortgage or deed of trust elects to have Tenant's interest in this Lease superior to any such instrumentMortgage or Primary Lease. If Tenant fails to execute the same within such ten-day period, then Landlord may execute the same as attorney-in-fact for Tenant. (b) Tenant shall attorn to any party succeeding to Landlord’s interest in the Premises, whether by notice to Tenant from such mortgageepurchase, trusteeforeclosure, deed in lieu of foreclosure, power of sale, termination of lease, or trust deed holderotherwise, this Lease upon such party’s request, and shall be deemed superior to execute such lien whether this Lease was executed before or after said mortgage or deed of trust so long agreements confirming such attornment as such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods)party may reasonably request. Tenant shall at not seek to enforce any time hereafter remedy it may have for any default on demand execute the part of Landlord without first giving written notice by certified mail, return receipt requested, specifying the default in reasonable detail to any instrumentsLandlord’s Mortgagee whose address has been given to Tenant, releases or other documents which may be reasonably required by and affording such Landlord’s Mortgagee a reasonable opportunity to perform Landlord’s obligations hereunder. (c) Notwithstanding any such mortgagee for the purpose attornment or subordination of subjecting and subordinating this a Mortgage or Primary Lease to the lien of any such mortgage, as may be the case, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify the terms of this Lease, to give the mortgagee, trust deed holder or trustee copies Landlord’s Mortgagee shall not be liable for any acts of any notices delivered previous landlord, shall not be obligated to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee)install the Initial Improvements, and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant shall not be bound by any amendment to the preceding sentence. At the request which it did not consent in writing nor any payment of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of Deedsrent made more than one month in advance.

Appears in 1 contract

Sources: Lease Agreement (Lightwave Logic, Inc.)

Mortgages. Tenant accepts this Lease subject and subordinate to any mortgage(s) and mortgages and/or deeds of trust now or at any time hereafter constituting a first lien or charge upon the Property, Premises or the improvements situated thereonthereon or the Building, provided, however, that if the mortgagee, trustee, trustee or holder of any such mortgage or deed of trust elects to have Tenant's ’s interest in this Lease superior to any such instrument, then by notice to Tenant from such mortgagee, trustee, trustee or trust deed holder, this Lease shall be deemed superior to such lien lien, whether this Lease was executed before or after said mortgage or deed of trust so long as and provided further, that if this Lease is made subordinate to any subsequent mortgage or deed of trust, upon Tenant’s written request and notice to Landlord, Landlord shall use good faith efforts to obtain from any such mortgagee, trust mortgagee a written agreement that after a foreclosure (or a deed holder or trustee enters into a non-disturbance agreement with in lieu of foreclosure) the rights of Tenant shall remain in form full force and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession effect during the term of the Premises this Lease so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods)shall continue to recognize and perform all of the covenants and conditions of this Lease. Tenant shall Tenant, at any time hereafter on demand demand, shall execute any instruments, releases or other documents which that may be reasonably required by any such mortgagee mortgagee, trustee or holder for the purpose of subjecting and subordinating this Lease to the lien of any such mortgage. Tenant shall not terminate this Lease or pursue any other remedy available to Tenant hereunder for any default on the part of Landlord without first giving written notice by certified or registered mail, as may be return receipt requested, to any mortgagee, trustee or holder of any such mortgage or deed of trust, the casename and post office address of which Tenant has received written notice, specifying the default in reasonable detail and affording such mortgagee, trustee or holder a reasonable opportunity (but in no event less than thirty (30) days) to make performance, at its election, for and on behalf of Landlord. Initial _____/RG/____ __/SMC/____ Date _______03/16/00 ____03/27/00 7 22. MECHANIC’S LIENS. Tenant has no other purpose authority, express or implied, to create or place any lien or encumbrance of any kind or nature whatsoever (upon, or in any manner to bind, the interest of Landlord or Tenant in the Premises. Tenant will save and Tenant expressly disclaims hold Landlord harmless from any obligation to modify and all loss, cost or expense, including without limitation attorneys’ fees, based on or arising out of asserted claims or liens against the leasehold estate or against the right, title and interest of the Landlord in the Premises or under the terms of this Lease, to give the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of Deeds.

Appears in 1 contract

Sources: Lease Agreement (Tanisys Technology Inc)

Mortgages. Tenant accepts this (a) This Lease subject and shall be subordinate to any mortgage(s) and deeds deed of trust trust, mortgage, or other security instrument (a "Mortgage"), that now or at hereafter covers all or any time hereafter constituting part of the Premises, provided that the holder of such Mortgage agrees, within in the Mortgage or in a first lien separate agreement with Tenant, that, so long as no Event of Default has occurred and is continuing hereunder, no foreclosure or charge upon deed in lieu of foreclosure with respect to such Mortgage will result in termination of this Lease or disturbance of Tenant's rights hereunder. The mortgagee under any Mortgage is referred to herein as "Landlord's Mortgagee". (b) Tenant shall attorn to any party succeeding to Landlord's interest in the PropertyPremises, whether by purchase, foreclosure, deed in lieu of foreclosure, power of sale, termination of lease, or otherwise, upon such party's request, and shall execute such agreements confirming such attornment as such party may reasonably request. In the improvements situated thereonevent of such request and upon Tenant's attornment as aforesaid, Tenant will automatically become the tenant of the successor to Landlord's interest without change in the terms or provisions of this Lease; provided, however, that such successor to Landlord's interest shall not be bound by (i) an payment of Rent for more than one month in advance (except prepayments for security deposits, if any), (ii) any amendments or modifications of this Lease made without the mortgagee, trusteeprior written consent of Landlord's Mortgagee if Tenant was advised on the interest of the same, or holder (iii) any credits, offsets, defenses or claims which Tenant may have against Landlord, except for matters that are continuing. (c) Tenant shall not seek to enforce any remedy it may have for any default on the part of the Landlord without first giving written notice by certified mail, return receipt requested, specifying the default in reasonable detail, to any Landlord's Mortgagee, whose address has been given to Tenant, and affording such Landlord's Mortgagee a reasonable opportunity to perform Landlord's obligations hereunder. Subject to the provisions of Paragraph 12 hereof, Landlord reserves the right, without notice to or consent of the Tenant, to assign this Lease and/or any and all rents hereunder as security for the payment of any Mortgage. (d) Tenant and Landlord agree at any time and from time to time during the Term to execute, acknowledge and deliver to the other party within ten (10) days of any request by the other party, a statement or statements, in writing, certifying (if such mortgage or deed be true) that a copy of trust elects to have Tenant's interest in this Lease superior to and any such instrument, then by notice to Tenant from such mortgagee, trustee, or trust deed holderamendments hereto are true and correct copies, this Lease is unmodified and in good standing (or if modified, then in good standing as modified, stating the modification), the date to which all rent and other charges hereunder have been paid in advance, and any other items reasonably requested. From time to time, Tenant shall be deemed superior furnish to any Landlord's Mortgagee, within ten (10) days after a request therefor, such lien whether this Lease was executed before or after said mortgage or deed of trust so long as such mortgageeestoppel certificates, trust deed holder or trustee enters into a subordination, non-disturbance agreement and attornment agreements, or other certificates as Landlord's Mortgagee may reasonably request. (e) Landlord acknowledges that Tenant has acquired equipment, inventory and other personal property and may acquire additional equipment, inventory and other personal property (collectively, the "Equipment") under the terms of one or more credit agreements with Tenant in form and substance satisfactory to Tenant one or more lenders pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb lenders finance Tenant's possession purchase of all or a portion of the Equipment. Landlord further acknowledges that a portion of the Equipment will be installed in or located at the Premises. Landlord hereby disclaims any interest in the Equipment. Landlord further (i) waives, disclaims and releases any claim of ownership of or lien on or security interest in all or any part of the Equipment, whether consensual, statutory or otherwise; (ii) to the fullest extent permitted by law, waives all rights granted by or under any present or future law to levy or distraint on the Equipment, for any sums due to Landlord; (iii) acknowledges that, regardless of the mode or manner of installation of the Equipment, the Equipment is and will continue to be personal property of Tenant or the vendor of the Equipment, as the case may be; (iv) acknowledges that the lenders under the credit agreements have (or may have) financed Tenant's purchase of all or portion f the Equipment and, to the extent that any of the Equipment has been so financed, the lenders have a security interest in such Equipment; and (v) agrees that the lenders and their agents may, form time to time in accordance with the credit agreements, enter the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods). Tenant shall at any time hereafter on demand execute any instruments, releases or other documents which may be reasonably required by any such mortgagee for the purpose purposes of subjecting and subordinating this Lease to inspection, repairing, removing and/or conducting a sale or sales of the lien of any such mortgage, as may be the case, but for no other purpose whatsoever (and Equipment. Initials: __________ __________ Landlord Tenant expressly disclaims any obligation to modify the terms of this Lease, to give the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of Deeds.10

Appears in 1 contract

Sources: Lease Agreement (Koala Corp /Co/)

Mortgages. Tenant accepts this Lease subject and subordinate to any mortgage(s) mortgages and deeds deed of trust now or at any time hereafter constituting a first lien or charge upon the Property, or the improvements situated thereon, provided, however, that if the mortgagee, trustee, or holder of any such mortgage or deed of trust ("Mortgagee") elects to have Tenant's interest in this Lease superior to any such instrument, then by notice to Tenant from such mortgagee, trustee, or trust deed holderMortgagee, this Lease shall be deemed superior to such lien whether this Lease was executed before or after said mortgage or deed of trust so long as such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods)trust. Tenant shall at any time hereafter on demand execute any instruments, releases or other documents which may be reasonably required by any such mortgagee Mortgagee for the purpose of subjecting and subordinating this Lease to the lien of any such mortgage (provided that such Mortgagee agrees to recognize this Lease and not disturb Tenant's possession of the Premises if Tenant is not in an uncured event of default) or for the purpose of evidencing the superiority of this Lease to the lien of any such mortgage, as may be the case. The foregoing notwithstanding, but for no other purpose whatsoever (and upon Tenant's request after Lease execution, Landlord will use its commercially reasonable efforts to cause Mortgagee to deliver to Tenant expressly disclaims any obligation to modify the terms of this Leasea subordination, to give the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance and attornment agreement with Tenant as required (the "SNDA") on Mortgagee's customary form containing provisions pursuant to which Mortgagee agrees not to terminate the preceding sentenceLease in the event of a foreclosure of its mortgage or deed of trust or termination of its ground lease, provided that Tenant is not in breach or default under this Lease. At Tenant understands that: (i) Landlord shall not be obligated to expend funds to procure the request of either Tenant SNDA and if any fee is required or Landlordfunds must be expended, a short-form or memorandum of such fees shall be paid and such funds shall be expended by Tenant, and (ii) Tenant's obligations under this Lease shall be signed by each party and filed with are not conditioned on obtaining the C▇▇▇ County Recorder of DeedsSNDA from Mortgagee.

Appears in 1 contract

Sources: Lease Agreement (CURO Group Holdings Corp.)

Mortgages. Tenant accepts this Lease subject and subordinate --------- to any mortgage(s) and deeds and/or deed(s) of trust now or at any time hereafter constituting a first lien or charge upon the Property, Premises or the improvements situated thereon, ; provided, however, that if the mortgagee, trustee, or holder of any such mortgage or deed of trust elects to have Tenant's interest in this Lease superior to any such instrument, then by notice to Tenant from such mortgagee, trustee, trustee or trust deed holder, this Lease shall be deemed superior to such lien lien, whether this Lease was executed before or after said mortgage or deed of trust so long as such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods)trust. Tenant shall at any time hereafter on demand execute and provide to Landlord within ten (10) business days of a request therefor, any instruments, releases or other documents which may be reasonably required by any such mortgagee or trustee for the purpose of further subjecting and subordinating this Lease to the lien of any such mortgagemortgage or deed to trust. Landlord shall endeavor to obtain from any existing mortgagee, groundlessor or other existing lien holder of the Building a so-called non- disturbance and attornment agreement under which Tenant's right to quiet possession of the Premises shall not be disturbed so long as may be the case, but for no other purpose whatsoever (Tenant is not in Default and Tenant expressly disclaims any obligation to modify shall pay the terms rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to give the its terms. Tenant shall not be required to subordinate this Lease to any future mortgagee, trust deed groundlessor or other lien holder or trustee copies of any notices delivered the Property unless such party agrees to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or enter into such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance and attornment agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of DeedsTenant.

Appears in 1 contract

Sources: Lease Agreement (Engage Technologies Inc)

Mortgages. Subject to Tenant receiving a non-disturbance agreement from the mortgagee of the Property, Tenant accepts this Lease subject and subordinate to any mortgage(s) and mortgages and/or deeds of trust now or at any time hereafter constituting a first lien or charge upon the Property, Premises or the improvements situated thereonthereon or the Building, provided, however, that if the mortgagee, trustee, trustee or holder of any such mortgage or deed of trust elects to have Tenant's interest in this Lease superior to any such instrument, then by notice to Tenant from such mortgagee, trustee, trustee or trust deed holder, this Lease shall be deemed superior to such lien lien, whether this Lease lease was executed before or after said mortgage or deed of trust. If any mortgage, deed of trust so long as such or security agreement is enforced by the mortgagee, trust deed holder the trustee, or trustee enters into the secured party, Tenant shall, upon request, attorn to the mortgagee or purchaser at such foreclosure sale, or any person or party succeeding to the interest of Landlord as a non-disturbance agreement with Tenant in form result of such enforcement, as the case may be, and substance satisfactory to Tenant pursuant to which execute instrument(s) confirming such mortgagee, trust deed holder or trustee agrees, not to disturb attornment. In the event of such enforcement and upon Tenant's possession attornment as aforesaid, Tenant will automatically become the tenant of the Premises so long as Tenant is successor to Landlord's interest without change in the terms or provisions of this Lease; provided, however, that such successor to Landlord's interest shall not be bound by (a) any payment of Rent for more than one month in default hereunder advance (after except prepayments for security deposits, if any), or (b) any applicable notice and/or cure periods)amendments or modifications of this Lease made without the prior written consent of such Lessor or mortgagee. Tenant shall Tenant, at any time hereafter on demand demand, shall execute any instruments, releases or other documents which that may be reasonably required by any such mortgagee mortgagee, trustee or holder for the purpose of subjecting and subordinating this Lease to the lien of any such mortgage, as may be the case, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify the terms of this Lease, to give the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, mortgage or to waive any claims which confirm Tenant's agreement of attornment. In consideration of Tenant's subordination and attornment agreements set forth above, Landlord shall provide Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into with a non-disturbance agreement with from its lender. Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of shall not terminate this Lease shall be signed or pursue any other remedy available to Tenant hereunder for any default on the part of Landlord without first giving written notice by each party certified or registered mail, return receipt requested, to any mortgagee, trustee or holder of any such mortgage or deed of trust, the name and filed with post office address of which Tenant has received written notice, specifying the C▇▇▇ County Recorder default in reasonable detail and affording such mortgagee, trustee or holder a reasonable opportunity (but in no event less than thirty (30) days) to make performance, at its election, for and on behalf of DeedsLandlord.

Appears in 1 contract

Sources: Lease Agreement (Silicon Laboratories Inc)

Mortgages. Tenant accepts a. Lessee acknowledges that Lessor shall execute and deliver one or more mortgages with respect to its interest in the Premises and Ground Lease Property (each a "Mortgage") in order to secure Permitted Financing and, in connection therewith, shall assign its interest in and to this Lease subject and subordinate to any mortgage(s) and deeds of trust now Lease. If either Lessor or at any time hereafter constituting a first lien or charge upon the Property, or the improvements situated thereon, provided, however, that if the mortgagee, grantee or trustee under any such Mortgage provides written notice to Lessee of the existence of such Mortgage and the address of the mortgagee, grantee or trustee thereunder for the service of notices, such mortgagee, grantee or trustee, or holder a shareholder, director, officer, partner (general or limited) or member of any such mortgage or deed of trust elects to have Tenant's interest in this Lease superior to any such instrumentthe foregoing, then by notice to Tenant from such mortgagee, trustee, or trust deed holder, this Lease shall be deemed superior to be a "Mortgage Lender" hereunder and entitled to the rights and protections afforded a Mortgage Lender in this Lease. b. If any Mortgage Lender or a person designated by such lien whether Mortgage Lender shall either become the owner of the Property upon the exercise of any remedy provided for in the Mortgage, such Mortgage Lender or such person shall have the right to assign to any person this Lease was executed before or after said mortgage such new lease upon notice to Lessee, without obtaining the consent or deed approval of trust so long as such mortgagee, trust deed holder or trustee enters into Lessee. c. No surrender (except a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession surrender upon the expiration of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods). Tenant shall at any time hereafter on demand execute any instruments, releases or other documents which may be reasonably required Term) by any such mortgagee for the purpose of subjecting and subordinating this Lease Lessee to the lien of any such mortgage, as may be the case, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify the terms Lessor of this Lease, to give or of the mortgageePremises and Ground Lease Property or any part thereof, trust deed holder or trustee copies of any notices delivered interest therein, and no termination of this Lease, may occur, nor shall any of the terms hereof be amended, modified, changed or cancelled, without the prior written consent of the Mortgage Lender, which consent shall not be unreasonably withheld, conditioned or delayed. d. No Mortgage Lender shall become personally liable for the performance or observance of any covenants or conditions to Landlordbe performed or observed by Lessor. e. In the event Mortgage Lender imposes a written condition to closing on a loan secured by a Mortgage that the Lease be amended in one or more specific respects and Lessor determines to so amend this Lease, Lessee shall promptly execute an amendment to this Lease in the form required by Lessor, provided such amendment does not increase any of the financial or other obligations of Lessee or materially reduce the obligations of Lessor hereunder. f. Lessee covenants and agrees to furnish to Mortgage Lender as soon as practicable after the end of each fiscal quarter of Lessee, and in no event later than forty-five (45) days thereafter, internally prepared financial statements of Lessee for such quarter consisting of the balance sheets of Lessee as of the end of such quarter and the related statements of income and cash flows for the quarter, accompanied by the certificate of Lessee's chief financial officer (or equivalent), certifying (i) that such financial statements were prepared in accordance with generally accepted accounting principles; and (ii) that no Event of Default has occurred and is continuing under this Lease, or if such Event of Default is continuing, how Lessee proposes to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee)cure the same. g. Lessee covenants and agrees to furnish to Mortgage Lender as soon as practicable after the end of each fiscal year, and provided in no event later than one hundred twenty (120) days thereafter, audited financial statements of Lessee for such fiscal year consisting of the balance sheets of Lessee as of the end of such fiscal year and the related statements of income and cash flows for the fiscal year then ended, setting forth in comparative form the figures for the previous fiscal year, all in reasonable detail and prepared by a certified public accountant reasonably acceptable to Mortgage Lender, accompanied by such accountant's unqualified opinion as to such financial statements and a copy of the management letter issued in connection with such accountant's audit thereof, and accompanied by the certificate of the chief financial officer of Lessee (or the equivalent) that such mortgageestatements fairly present the financial position, trust deed holder results of operations and cash flows of Lessee as of such date and for such fiscal year and were prepared in accordance with generally accepted accounting principles. h. Lessee covenants and agrees to promptly notify Mortgage Lender with respect to (i) the occurrence of any event that materially adversely affects Lessee, its properties, financial position or trustee enters into a non-disturbance agreement with Tenant ability to conduct its business operations in substantially the manner and level contemplated to be conducted as required pursuant to of the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum date of this Lease shall be signed by each party Lease, (ii) any modification of any law, regulation or ordinance of the State of Indiana, or any agency or political subdivision thereof, that has a material adverse effect on Lessee's ability to maintain its gaming license or to conduct its gaming business at its present location, and filed with (iii) the C▇▇▇ County Recorder commencement of Deedsany action, suit or proceeding before any court or arbitrator or any governmental department, board, agency or other instrumentality affecting Lessee or any property of Lessee in which an adverse determination or result would have a material adverse effect on the business, operations, property or condition (financial or otherwise) of Lessee or on the ability of Lessee to perform its obligations under this Lease, stating the nature and status of such event, amendment, action, suit or proceeding and providing such additional information as Mortgage Lender may reasonably request.

Appears in 1 contract

Sources: Parking Lease (Majestic Star Casino LLC)

Mortgages. Tenant accepts 22.1 Lessee shall execute any instrument necessary to evidence subordination of this Lease subject and to any mortgage of Lessor. Lessee agrees that this Lease shall be subordinate to any mortgage(s) and mortgages or trust deeds of trust now or at any time that may hereafter constituting a first lien or charge be placed upon the Propertypremises, to any and all advances made or to be made under them, to the improvements situated thereoninterest and all obligations secured by them, providedand to all renewals, replacements and extensions of them. Provided, however, that if in the mortgageeevent of foreclosure, trustee, the mortgagee or holder of beneficiary named in any such mortgages or trust deeds and any purchaser under any foreclosure sale shall recognize and honor all of the Lessor's obligations under the Lease if Lessee is not then in default under the terms of this Lease. If any mortgagee or beneficiary elects to have this Lease superior in its mortgage or deed of trust elects and gives notice of its election to have Tenant's interest in this Lease superior to any such instrumentLessee, then by notice to Tenant from such mortgagee, trustee, or trust deed holder, this Lease shall be deemed superior to such lien whether this Lease was executed before or after said mortgage or deed of trust so long as such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods). Tenant shall at any time hereafter on demand execute any instruments, releases or other documents which may be reasonably required by any such mortgagee for the purpose of subjecting and subordinating this Lease to the lien of any mortgage or trust deed whether this Lease is dated or recorded before or after the mortgage or trust deed. 22.2 Lessee shall at any time and from time to time, upon not less than ten (10) days prior written notice from Lessor, execute, acknowledge, and deliver to Lessor a statement in writing certifying certain facts including, without limitation, that this Lease is unmodified and in full force and effect (or, if modified, stating the nature of such mortgagemodification and certifying that this Lease, as so modified, is in full force and effect) and the dates to which the rental, and security deposit, if any, and other charges, if any, are paid in advance, and acknowledging that there are not, to Lessee's knowledge, any uncured defaults on the part of Lessor hereunder, and that there are no events or conditions then in existence which, with the passage of time or notice or both, would constitute a default on the part of Lessor hereunder, or specifying such defaults, events, or conditions, if any are claimed. It is expressly understood and agreed that any prospective purchaser or encumbrancer of all or any portion of the premises shall be entitled to rely upon any such statement. Lessee's failure to execute and return said document than it shall be conclusive upon lessee that (i) this Lease is in full force and effect without modification except as may be represented by Lessor; (ii) that there are no uncured defaults in Lessor's performance; and (iii) that not more than two (2) months' rental has been paid in advance. If Lessee fails to deliver the casecertificate within ten (10) days, but for no other purpose whatsoever (Lessee irrevocably constitutes and Tenant expressly disclaims any obligation appoints Lessor as its special attorney-in-fact to modify execute and deliver the terms of this Lease, certificate to give the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of Deedsthird party.

Appears in 1 contract

Sources: Lease (Tucows Inc /Pa/)

Mortgages. Tenant accepts this Lease subject and subordinate to any mortgage(s) and deeds of trust trust, security interests or mortgages which might now or at any time hereafter constituting constitute a first lien or charge upon the PropertyPremises and to deed restrictions, or zoning ordinances and other building and fire ordinances and governmental regulations relating to the improvements situated thereon, provided, however, that if the mortgagee, trustee, or holder of any such mortgage or deed of trust elects to have Tenant's interest in this Lease superior to any such instrument, then by notice to Tenant from such mortgagee, trustee, or trust deed holder, this Lease shall be deemed superior to such lien whether this Lease was executed before or after said mortgage or deed of trust so long as such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession use of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods)Premises. Tenant shall at any time hereafter hereafter, on demand demand, execute any instruments, releases or other documents which that may be reasonably required by any such mortgagee for the purpose of subjecting and subordinating this Lease to the lien of any such deed of trust, security interest or mortgage. Tenant agrees to attorn to any mortgagee, trustee under a deed of trust or purchaser at a foreclosure sale or trustee's sale as may Landlord under this Lease. With respect to any deed of trust, security interest or mortgage hereafter constituting a lien on the Premises, Landlord, at its sole option, shall have the right to waive the applicability of this paragraph so that this tease will not be subject and subordinate to any such deed of trust, security interest or mortgage. Tenant shall upon request by Landlord, execute and deliver from time to time, one or more instruments certifying mat this Lease is in full force and unmodified (or if modified stating the casedate and nature of each modification), but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify the terms date through which the Basic Rental has been paid, the unexpired term of this Lease, and such other matters pertaining to give this Lease as may be requested by Landlord. Notwithstanding the mortgageeforegoing, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of this Lease shall not be signed by each party subordinate to mortgages or deeds or trust hereafter arising unless and filed until Landlord has provided Tenant with an agreement (herein,, "Non-Disturbance Agreement") from the C▇▇▇ County Recorder holder of Deedssuch lien confirming that so long as Tenant is not in default in the performance of any covenants, conditions, terms or provisions of this Lease, Tenant's right of occupancy under this Lease shall not be disturbed. Landlord shall provide Tenant with a Non-Disturbance Agreement for any mortgage now affecting the Premises prior to the Commencement Date.

Appears in 1 contract

Sources: Industrial Lease Agreement (Mohawk Industries Inc)

Mortgages. Tenant accepts this Lease subject and subordinate to any mortgage(s) and deeds and/or deed(s) of trust now or at any time hereafter constituting a first lien or charge upon the Property, Premises or the improvements situated thereon, ; provided, however, that if the mortgagee, trustee, or holder of any such mortgage or deed of trust elects to have Tenant▇▇▇▇▇▇'s interest in this Lease superior to any such instrument, then by notice to Tenant from such mortgagee, trustee, trustee or trust deed holder, this Lease shall will be deemed superior to such lien lien, whether this Lease was executed before or after said mortgage or deed of trust so long as such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods)trust. Tenant shall will at any time hereafter on demand execute and provide to Landlord within ten (10) business days of a request therefore, any commercially reasonable instruments, releases or other documents which may be reasonably required by any such mortgagee or trustee for the purpose of further subjecting and subordinating this Lease to the lien of any such mortgage, mortgage or deed to trust in form and substance as may be the case, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify the terms of this Lease, to give the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or reasonably required by such mortgagee, trust deed holder mortgagee or trustee). Notwithstanding the foregoing, and it shall be a condition precedent to any subordination that Tenant be provided that such mortgagee, trust deed holder or trustee enters into with a written non-disturbance agreement with in the form stipulated by ▇▇▇▇▇▇▇▇’s lender (provided that: (i) Tenant shall be entitled to request of ▇▇▇▇▇▇▇▇'s lender commercially reasonable revisions to said form at its cost which costs include payment of any attorneys' fees charged to Landlord by ▇▇▇▇▇▇▇▇'s lender (as required pursuant reasonably documented by Landlord); and (ii) said form provides that, if the holder of any mortgage or deed of trust shall take title to the preceding sentence. At Premises through foreclosure or deed in lieu of foreclosure or otherwise, Tenant shall be allowed to continue in possession of the request of either Tenant or Landlord, a short-form or memorandum of Premises as provided in this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of Deedsso long as Tenant is not in default, beyond any applicable cure period).

Appears in 1 contract

Sources: Lease Agreement (Precision Biosciences Inc)

Mortgages. Tenant accepts this Lease subject and subordinate to any mortgage(s) and .any deeds of trust trust, security interests or mortgages which might now or at any time hereafter constituting constitute a first lien or charge upon the PropertyPremises and to deed restrictions, or zoning ordinances and other building and fire ordinances and governmental regulations relating to the improvements situated thereon, provided, however, that if the mortgagee, trustee, or holder of any such mortgage or deed of trust elects to have Tenant's interest in this Lease superior to any such instrument, then by notice to Tenant from such mortgagee, trustee, or trust deed holder, this Lease shall be deemed superior to such lien whether this Lease was executed before or after said mortgage or deed of trust so long as such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession use of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods)Premises. Tenant shall at any time hereafter hereafter, on demand demand, execute any instruments, releases or other documents which that may be reasonably required by any such mortgagee for the purpose of subjecting and subordinating this Lease to the lien of any such deed of trust, security interest or mortgage. Tenant agrees to attorn to any mortgagee, trustee under a deed of trust or purchaser at a foreclosure sale or trustee's sale as may Landlord under this Lease. With respect to any deed of trust, security interest or mortgage hereafter constituting a lien on the Premises, Landlord, at its sole option, shall have the right to waive the applicability of this paragraph so that this Lease will not be subject and subordinate to any such deed of trust, security interest or mortgage. Tenant shall upon request by Landlord, execute and deliver from time to time, one or more instruments certifying that this Lease is hi full force and unmodified (or if modified stating the casedate and nature of each modification), but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify the terms date through which the Basic Rental has been paid, the unexpired term of this Lease, and such other matters pertaining to give this Lease as may be requested by Landlord. Notwithstanding the mortgageeforegoing, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of this Lease shall not be signed by each party subordinate to mortgages or deeds or trust hereafter arising unless and filed until Landlord has provided Tenant with an agreement (herein, "Non-Disturbance Agreement ") from the C▇▇▇ County Recorder holder of Deedssuch hen confirming that so long as Tenant is not in default in the performance of any covenants, conditions, terms or provisions of this Lease, Tenant's right of occupancy under this Lease shall not be disturbed. Landlord shall provide Tenant with a Non-Disturbance Agreement for any mortgage now affecting the Premises prior to the Commencement Date.

Appears in 1 contract

Sources: Industrial Lease Agreement (Mohawk Industries Inc)

Mortgages. Tenant accepts this Lease lease subject and subordinate to any mortgage(s) and deeds and/or deed(s) of trust now or at any time hereafter constituting a first lien or charge upon the Property, premises or the improvements situated thereon, provided, however, that if the mortgagee, trustee, or holder of any such mortgage or deed of trust elects to have Tenant's interest in this Lease lease superior to any such instrument, then by notice to Tenant from such mortgagee, trustee, trustee or trust deed holder, this Lease lease shall be deemed superior to such lien lien, whether this Lease lease was executed before or after said mortgage or deed of trust so long as trust, and provided further that Landlord shall agree to use reasonable good faith efforts to obtain an agreement from such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises mortgage or deed of trust that, so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods)under this lease, that Tenant's possession of the premises will not be disturbed. Tenant shall at any time hereafter on demand execute any instruments, releases or other documents which may be reasonably required by any such mortgagee for the purpose of subjecting and subordinating this Lease lease to the lien of any such mortgage. If the interests of the Landlord under this lease shall be transferred by reason of foreclosure or other proceedings for enforcement of any mortgage or deed of trust on the premises, Tenant shall be bound to the transferee (sometimes called the "Purchaser") at the option of the Purchaser, under the terms, covenants, and conditions of this lease for the balance of the term remaining, including any extensions and renewals, with the same force and effect as if the Purchaser were Landlord under this lease, and if requested by the Purchaser, Tenant agrees to attorn to the Purchaser, including the mortgagee under any such mortgage if it be the Purchaser, as may be the case, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify the terms of this Lease, to give the mortgagee, trust deed holder or trustee copies of any notices delivered to its Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of Deeds.

Appears in 1 contract

Sources: Commercial Lease Agreement (Packaged Ice Inc)

Mortgages. Tenant accepts The rights and interests of Lessee under this Lease and to the leased Premises shall be subject and subordinate to any mortgage(s) and all deeds of trust now trust, mortgages, rent assignments, and other security instruments and to all renewals, modifications, consolidations, replacements and extensions thereof (die "Security Documents") heretofore or at hereafter executed by Lessor or any time hereafter constituting a first lien successor in interest of Landlord covering the Premises, the Building, the Land or charge upon any parts thereof or interest therein to the Propertysame extent as if the Security Documents had been executed, or delivered and recorded prior to the improvements situated thereon, execution of this Lease; provided, however, that if at the mortgagee, trustee, option of the holder or holder holders of any such mortgage or deed of trust elects to have Tenant's interest in this Lease superior to any such instrumentSecurity Document, then evidenced by written notice to Tenant such effect from such mortgagee, trustee, holder or trust deed holderholders to Lessee, this Lease shall be deemed superior to the Security Document held by such lien whether holder or holders. After the delivery to Lessee of a notice from Lessor that it has entered into one or more Security Documents, then during the term of such Security Documents Lessee shall deliver to the holder or holders of all Security Documents a copy of all notices to Lessor and shall grant to such holder or holders the right to cure all defaults, if any, of Lessor hereunder within the same time period provided in this Lease was executed before for curing such defaults by Lessor and, except with the prior written consent of the holder of the Security Documents, shall not (i) amend this Lease, (ii) surrender or after said mortgage or deed of trust so long as such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant terminate this Lease except pursuant to which such mortgageea right to terminate expressly set forth in this Lease, trust deed holder or trustee agrees, not to disturb Tenant's possession (iii) pay any Rent or installment thereof more than one month in advance or pay any Rent or installment thereof or other amounts payable hereunder other than in strict accordance with the terms hereof or of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods)Security Documents. Tenant shall at any time hereafter on demand execute any instruments, releases or other documents which may be reasonably required In the event of foreclosure by any such mortgagee for lienholder of the purpose building, Lessee shall not have a right to terminate this lease. The provisions of subjecting this section shall be self-operative and subordinating this Lease to shall not require further agreement by Lessee however, at the lien request of Lessor, the holder of any Security Document or the successor in interest of Lessor pursuant to such mortgageSecurity Document (whether by foreclosure or conveyance in lieu of foreclosure or otherwise), Lessee shall execute such further documents (including, without limitation, attornment agreements) as may be required or desirable to evidence and set forth for the case, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify benefit of the terms of this Lease, to give the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord Security Documents or such mortgageesuccessor in interest pursuant thereto the obligations of Lessee hereunder. At any time and from time to time upon not less than 10 days prior notice by Lessor, trust deed holder Lessee shall furnish a statement in writing certifying that this Lease is unmodified and in full force and effect (or trusteeif there have been modifications), and provided that such mortgagee, trust deed holder stating whether or trustee enters into a non-disturbance agreement with Tenant as required pursuant not to the preceding sentence. At best knowledge of Lessee Lessor is in default in the request keeping, observance or performance of either Tenant any covenant, agreement, term, provision or Landlord, a short-form or memorandum of condition contained in this Lease shall and, if so, specifying each such default of which Lessee may have knowledge, it being intended that any such statement may be signed relied upon by each party and filed with any prospective purchasers, tenant, mortgagee or assignee of any mortgage of the C▇▇▇ County Recorder Building or Land or of DeedsLessor interest therein.

Appears in 1 contract

Sources: Office Lease Agreement (Embedded Support Tools Corp)

Mortgages. Tenant accepts this (i) This Lease subject and shall be subordinate to any mortgage(sdeed of trust, mortgage or other security instrument (a “Mortgage”) and deeds of trust that now or at hereafter covers any time hereafter constituting a first lien or charge upon portion of the PropertyPremises (the mortgagee under any Mortgage being referred to herein as “Landlord’s Mortgagee”), or the improvements situated thereonand to increases, providedrenewals, modifications, consolidations, replacements, and extensions thereof. However, any Landlord’s Mortgagee may elect to subordinate its Mortgage to this Lease by delivering written notice thereof to Tenant. The provisions of this Section 15(i) shall be self-operative, and no further instrument shall be required to effect such subordination; however, Tenant shall from time to time within ten days after request therefor, execute any instruments that if may be required by any Landlord’s Mortgagee to evidence the mortgagee, trustee, or holder subordination of any such mortgage or deed of trust elects to have Tenant's interest in this Lease superior to any such instrumentMortgage. (ii) Tenant shall attorn to any party succeeding to Landlord’s interest in the Premises, then whether by notice to Tenant from such mortgageepurchase, trusteeforeclosure, deed in lieu of foreclosure, power of sale, termination of lease, or trust deed holderotherwise, upon such party’s request, and shall execute such agreements confirming such attornment as such party may reasonably request. Tenant shall not seek to enforce any remedy it may have for any default on the part of Landlord without first giving written notice by certified mail, return receipt requested, specifying the default in reasonable detail to any Landlord’s Mortgagee whose address has been given to Tenant, and affording such Landlord’s Mortgagee a reasonable opportunity to perform Landlord’s obligations hereunder. Notwithstanding the foregoing attornment and subordination provisions, Landlord’s Mortgagee shall not be liable for any acts of any previous landlord under this Lease (including, without limitation, any acts of Landlord) or for construction of any improvements and shall not be bound by any amendment to which Landlord’s Mortgagee did not consent in writing nor any payment of rent made more than one month in advance. No amendment to this Lease shall be deemed superior effective without the prior written consent of Landlord’s Mortgagee. (iii) Without limiting the generality of the provisions set forth in the foregoing provisions of this Section 15, in the event that Landlord’s Mortgagee (or its successor or assignee) should acquire the Premises by foreclosure, deed in lieu of foreclosure or similar arrangement, Landlord’s Mortgagee shall have the following options: (1) Landlord’s Mortgagee shall have the right to such lien whether keep this Lease was executed in full force and effect. Tenant agrees upon demand by Landlord’s Mortgagee, before or after said mortgage the institution of any proceedings for foreclosure, or deed of trust so long as such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession the sale of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods). Tenant shall at any time hereafter on demand execute any instruments, releases pursuant to a Mortgage or other documents which may be reasonably required by instrument of security, to attorn to Landlord’s Mortgagee or any purchaser at a foreclosure sale and to recognize Landlord’s Mortgagee or such mortgagee for purchaser as Landlord under this Lease. The foregoing agreement of Tenant to attorn upon demand of Landlord’s Mortgagee shall survive any foreclosure sale. (2) Landlord’s Mortgagee (or any purchaser at a foreclosure sale) shall have the purpose of subjecting and subordinating right to terminate this Lease by written notice to the lien of any such mortgage, as may be the case, but for no other purpose whatsoever Tenant. (iv) Landlord and Tenant expressly disclaims any obligation to modify acknowledge and agree that as of the terms of this Lease, to give the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum date of this Lease the sole Landlord’s Mortgagee is Allianz Life Insurance Company of North America, a Minnesota corporation, which shall be signed by each party entitled to all rights and filed with the C▇▇▇ County Recorder of Deedsbenefits conferred upon a Landlord’s Mortgagee pursuant to this Lease.

Appears in 1 contract

Sources: Lease Agreement (Craftmade International Inc)

Mortgages. Tenant accepts may not mortgage, encumber or assign as collateral for any Tenant obligation, Tenant’s interests under this Lease subject and subordinate to or in the Demised Premises. In the event Tenant shall lease or finance the acquisition of equipment, furnishings or other personal property of a removable nature utilized by Tenant in the operation of Tenant’s business, Tenant warrants that any mortgage(s) and deeds of trust now Uniform Commercial Code Financing Statement executed by Tenant will, upon its face or at any time hereafter constituting a first lien or charge upon the Propertyby exhibit thereto, or the improvements situated thereon, provided, however, indicate that if the mortgagee, trustee, or holder of any such mortgage or deed of trust elects to have Tenant's interest in this Lease superior to any such instrument, then by notice to Tenant from such mortgagee, trustee, or trust deed holder, this Lease shall be deemed superior Financing Statement is applicable only to such lien whether this Lease removable personal property of Tenant located within the Demised Premises, the acquisition of which was executed before or after said mortgage or deed of trust so long as such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to financed by Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession said Financing Statement. In no event shall the address of the Premises so long Building be furnished on the statement without qualifying language as to applicability of the lien only to removable personal property therein. Should any holder of a Financing Statement executed by Tenant is not in default hereunder record or place of record a Financing Statement which appears to constitute a lien against any interest of Landlord or against equipment which may be located other than within the Demised Premises, Tenant shall, within ten (10) days after any applicable notice and/or cure periods). Tenant shall at any time hereafter on demand execute any instrumentsfiling such Financing Statement, releases cause (i) copies of the Security Agreement or other documents to which the Financing Statement pertains to be furnished to Landlord to show that such lien is not applicable to Landlord’s interest, and (ii) its lender to amend documents of record so as to clarify that such lien is not applicable to any interest of Landlord in the Demised Premises. Landlord will, upon Tenant’s written request, and without incurring any liability, execute such lien waiver documents as may be reasonably required by any such mortgagee necessary for Tenant to finance its fixtures, furnishings and equipment located on the purpose of subjecting and subordinating this Lease to the lien of any such mortgage, as may be the case, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify the terms of this Lease, to give the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of DeedsDemised Premises.

Appears in 1 contract

Sources: Build to Suit Lease (Intuit Inc)

Mortgages. Tenant accepts this Lease subject and subordinate to any mortgage(s) and deeds of trust trust, security interests or mortgages which might now or at any time hereafter constituting constitute a first lien or charge upon the PropertyPremises and to deed restrictions, or zoning ordinances and other building and fire ordinances and governmental regulations relating to the improvements situated thereon, provided, however, that if the mortgagee, trustee, or holder of any such mortgage or deed of trust elects to have Tenant's interest in this Lease superior to any such instrument, then by notice to Tenant from such mortgagee, trustee, or trust deed holder, this Lease shall be deemed superior to such lien whether this Lease was executed before or after said mortgage or deed of trust so long as such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession use of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods)Premises. Tenant shall at any time hereafter hereafter, on demand demand, execute any instruments, releases or other documents which that may be reasonably required by any such mortgagee for the purpose of subjecting and subordinating this Lease to the lien of any such deed of trust, security interest or mortgage. Tenant agrees to attorn to any mortgagee, trustee under a deed of trust or purchaser at a foreclosure sale or trustee's sale as may Landlord under this Lease. With respect to any deed of trust, security interest or mortgage hereafter constituting a lien on the Premises, Landlord, at its sole option, shall have the right to waive the applicability of this paragraph to that this Lease will not be subject and subordinate to any such deed of trust, security interest or mortgage. Tenant shall upon request by Landlord, execute and deliver from time to time, one or more instruments certifying that this Lease is in full force and unmodified (or if modified stating the casedate and nature of each modification), but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify the terms date through which the Basic Rental has been paid, the unexpired term of this Lease, and such other matters pertaining to give this Lease as may be requested by Landlord. Notwithstanding the mortgageeforegoing, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of this Lease shall not be signed by each party subordinate to mortgages or deeds or trust hereafter arising unless and filed until Landlord has provided Tenant with an agreement (herein, "Non-Disturbance Agreement") from the C▇▇▇ County Recorder holder of Deedssuch lien confirming that so long as Tenant is not in default in the performance of any covenants, conditions, terms or provisions of this Lease, Tenant's right of occupancy under this Lease shall not be disturbed.

Appears in 1 contract

Sources: Industrial Lease Agreement (Mohawk Industries Inc)

Mortgages. Tenant ▇▇▇▇▇▇ accepts this Lease subject and subordinate to any mortgage(s) and deeds and/ or deed(s) of trust now or at any time hereafter constituting a first lien or charge upon the Property, Property or the improvements situated thereonLessor’s leasehold interest under the Base Lease, provided, however, that if the mortgagee, trustee, or holder of any such mortgage or deed of trust elects to have Tenant▇▇▇▇▇▇'s interest in this Lease superior to any such instrument, then by notice to Tenant ▇▇▇▇▇▇ from such mortgagee, trustee, trustee or trust deed holder, this Lease shall be deemed superior to such lien lien, whether this Lease was executed before or after said mortgage or deed of trust so long as such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods)trust. Tenant Lessee shall at any time hereafter on demand execute any instruments, releases or other documents which may be reasonably required by any such mortgagee for the purpose of subjecting and subordinating this Lease to the lien of any such mortgage, as may be . If the case, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify interests of the terms of this Lease, to give the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of Lessor under this Lease shall be signed transferred by each party reason of foreclosure or other proceedings for enforcement of any mortgage or deed of trust on the Property or the Lessor’s leasehold interest under the Base Lease, Lessee shall be bound to the transferee (sometimes called the "Purchaser") at the option of the Purchaser, under the terms, covenants, and filed conditions of this Lease for the balance of the Lease Term remaining, including any extensions and renewals exercised by ▇▇▇▇▇▇, with the Csame force and effect as if the Purchaser were Lessor under this Lease, and if requested by the Purchaser, ▇▇▇▇▇▇ County Recorder of Deedsagrees to submit to the Purchaser, including the mortgagee under any such mortgage if it be the Purchaser, as its landlord.

Appears in 1 contract

Sources: Commercial Lease Agreement

Mortgages. Tenant accepts this Lease subject and subordinate to any mortgage(s) and mortgages and/or deeds of trust now or at any time hereafter constituting a first lien or charge upon the Property, Premises or the improvements situated thereonthereon or the building of which the Premises are a part, provided, however, that if the mortgagee, trustee, or holder of any such mortgage or deed of trust elects to have Tenant's ’s interest in this Lease superior to any such instrument, then by notice to Tenant from such mortgagee, trustee, trustee or trust deed holder, this Lease shall be deemed superior to such lien lien, whether this Lease was executed before or after said mortgage or deed of trust so long as such mortgageetrust. Tenant, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods). Tenant shall at any time hereafter upon ten (10) days request, shall execute a commercially reasonable subordination, nondisturbance agreement, Commencement Date Agreement or estoppel certificate (certifying that the Lease is in full force and effect, the date the rent is paid and such other pertinent matters relating to the terms of the Lease. If in connection with obtaining financing for the Building, or for any ground or underlying lease(s), a recognized institutional lender shall request reasonable modifications in this Lease as a condition to such financing, Tenant will not unreasonably withhold, delay or defer its consent, provided such modifications do not increase the obligations of Tenant or decrease the obligations of Landlord hereunder or adversely affect, to a material extent, Tenant’s leasehold interest or Tenant’s use and enjoyment of the Premises. After written request, should Tenant fail to deliver such documents as provided herein within the aforementioned period, Tenant hereby irrevocably appoints Landlord as attorney-in-fact for the Tenant with full power and authority to execute and deliver in the name of Tenant such documents if Tenant fails to deliver the same within such ten (10) day period and such documents as signed by Landlord or Landlord’s beneficiary, as the case may be, shall be fully binding on demand execute Tenant, if Tenant fails to delivery contrary documents within five (5) days after receipt by Tenant of a copy of the documents by Landlord or Landlord’s beneficiary, as the case may be, on behalf of Tenant. Tenant agrees to provide Landlord, upon fifteen (15) days written request, annual financial statements should such statements be a requirement of any instruments, releases mortgagee or other documents which may be reasonably if required by any such mortgagee a recognized institutional lender for the purpose of subjecting and subordinating this Lease to obtaining financing for the lien Premises or any project or building of any such mortgage, as may be which the case, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify the terms of this Lease, to give the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into Premises are a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of Deedspart.

Appears in 1 contract

Sources: Lease Agreement (Cryo Cell International Inc)

Mortgages. Tenant accepts this Lease subject and subordinate to any mortgage(s) and mortgages and/or deeds of trust now or at any time hereafter constituting a first lien or charge upon the Property, Premises or the improvements situated thereonthereon or the Building, provided, however, that if the mortgagee, trustee, trustee or holder of any such mortgage or deed of trust elects to have Tenant's ’s interest in this Lease superior to any such instrument, then by notice to Tenant from such mortgagee, trustee, trustee or trust deed holder, this Lease shall be deemed superior to such lien lien, whether this Lease was executed before or after said mortgage or deed of trust so long as such mortgageetrust. Tenant, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods). Tenant shall at any time hereafter on demand demand, shall execute any instruments, releases or other documents which that may be reasonably required by any such mortgagee mortgagee, trustee or holder for the purpose of subjecting and subordinating this Lease to the lien of any such mortgage. Prior to subordinating this Lease to any mortgage or deed of trust, Landlord shall cause the mortgagee or beneficiary under a deed of trust to deliver to Tenant a commercially reasonable non-disturbance agreement, providing that so long as Tenant is not in default under this Lease after the expiration of any applicable notice and cure periods, Tenant may be remain in possession of the case, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify Premises under the terms of this Lease, if such mortgagee or beneficiary should acquire Landlord’s title to give the mortgageeProject. In addition, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or shall deliver such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant from any current mortgage or Landlord, a short-form or memorandum beneficiary within thirty (30) days after execution of this Lease. Tenant shall not terminate this Lease shall be signed or pursue any other remedy available to Tenant hereunder for any default on the part of Landlord without first giving written notice by each party certified or registered mail, return receipt requested, to any mortgagee, trustee or holder of any such mortgage or deed of trust, the name and filed with post office address of which Tenant has received written notice, specifying the C▇▇▇ County Recorder default in reasonable detail and affording such mortgagee, trustee or holder a reasonable opportunity (but in no event less than thirty days) to make performance, at its election, for and on behalf of DeedsLandlord.

Appears in 1 contract

Sources: Lease Agreement (Rules-Based Medicine Inc)

Mortgages. Tenant accepts this Lease subject and subordinate to any mortgage(s) and mortgages and/or deeds of trust now or at any time hereafter constituting a first lien or charge upon the Property, Premises or the improvements situated thereon, ; provided, however, that if the mortgagee, trustee, or holder of any my such mortgage or deed of trust elects to have Tenant's interest in this Lease superior to any such instrument, then by notice to Tenant from such mortgagee, trustee, trustee or trust deed holder, this Lease shall be deemed superior to such lien lien, whether this Lease was executed before or after said mortgage or deed of trust so long as such mortgagee, trust deed holder or trustee enters into trust. Landlord agrees to promptly obtain and deliver to Tenant a subordination non-disturbance and attornment agreement in substantially the form attached hereto as Exhibit "G" and made a part hereof ("SNDA") executed by Landlord's current mortgagee with respect to the Land. Tenant agrees to enter into the SNDA with such mortgagee promptly upon Landlord's request therefor. Notwithstanding the foregoing, the subordination of this Lease to any mortgage or deed of trust that is hereafter placed upon the Land is expressly conditioned upon Tenant and the mortgagee or beneficiary under any such mortgage or deed of trust entering into an SNDA in a form and substance satisfactory reasonably acceptable to Tenant pursuant (Tenant hereby agreeing that an SNDA substantially in the form that is attached hereto as Exhibit "G" and made a part hereof is acceptable to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods). Tenant agrees to enter into such SNDA with any such mortgagee or beneficiary promptly upon Landlord's request therefor. Tenant shall at be permitted to record the SNDA in the real property records of Tarrant County, Texas. If any time future mortgagee or beneficiary under a mortgage or deed of trust hereafter on demand placed upon the Land desires to subordinate its mortgage or deed of trust to this Lease, Tenant agrees that it shall promptly execute any instruments, releases or other documents which such instrument as may be reasonably required by any such mortgagee for or beneficiary in order to effect such subordination (Tenant hereby agrees that an instrument in substantially the purpose form of subjecting Exhibit "H" attached hereto and subordinating this Lease made a part hereof is acceptable to the lien of any such mortgage, as may be the case, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify the terms of this Lease, to give the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trusteeTenant), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of Deeds.

Appears in 1 contract

Sources: Lease Agreement (Ameritrade Holding Corp)

Mortgages. Tenant accepts this Lease subject and subordinate to any mortgage(s) and mortgages and/or deeds of trust now or at any time hereafter constituting a first lien or charge upon the PropertyPremises, or the improvements situated thereon, the Building or the Land, and to any and all increases, renewals, modifications, consolidations, replacements and extensions of such mortgages and deeds of trust; provided, however, that if the mortgagee, trustee, or holder of any such mortgage or deed of trust elects to have Tenant's interest in this Lease superior to any such instrument, then by notice to Tenant from such mortgagee, trustee, trustee or trust deed holder, this Lease shall be deemed superior to such lien whether this Lease was executed before or after said mortgage or deed of trust so long as trust. The provisions of this Paragraph 20. shall be self-operative, and no further instrument shall be required to effect such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession subordination of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods)this Lease. Tenant shall however, at any time hereafter on demand hereafter, within ten (10) days after demand, execute any instruments, releases or other documents which that may be reasonably required by any such mortgagee for the purpose of subjecting and subordinating this Lease to the lien of any such mortgage. If Tenant fails to execute the same within such ten (10) day period, Landlord is hereby authorized to execute the same as attorney-in-fact for Tenant. Tenant agrees to attorn upon demand to any mortgagee, trustee under a deed of trust or purchaser at a foreclosure sale or trustee's sale as Landlord under this Lease. The agreement of Tenant to attorn upon demand contained in the immediately preceding sentence shall survive any such foreclosure sale or trustee's sale. Tenant shall upon demand at any time or times, before or after any such foreclosure sale or trustee's sale, execute, acknowledge and deliver to any mortgagee, trustee under a deed of trust or purchaser at a foreclosure sale or Landlord [INITIALS] --------------- Tenant [INITIALS] --------------- trustee's sale any and all instruments and certificates that in the judgment of such party may be the casenecessary or proper to confirm or evidence such attornment, but for no other purpose whatsoever (and Tenant expressly disclaims hereby irrevocably appoints any obligation to modify the terms of this Lease, to give the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trustee under a deed of trust deed holder or purchaser at a foreclosure sale or trustee)'s sale as Tenant's agent and attorney-in-fact for the purpose of executing, acknowledging and provided that delivering any such mortgagee, trust deed holder or trustee enters into instruments and certificates. Landlord shall use reasonable efforts upon request of Tenant to obtain a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or from Landlord, a short-form or memorandum of this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of Deeds's lender on Landlord's lender's standard form.

Appears in 1 contract

Sources: Lease Agreement (Globenet International I Inc)

Mortgages. Tenant accepts this Lease subject and subordinate to any mortgage(s), deed(s) and deeds to secure debt, ground lease(s) and/or deed(s) of trust now or at any time hereafter constituting a first lien or charge upon the Property, premises or the improvements situated thereonthereon (collectively, a "mortgage"), provided, however, that Landlord shall deliver, as a condition precedent to such subordination, a subordination, non-disturbance and attornment agreement ("SNDA") substantially in the form generally used by the holder of such mortgage wherein the holder of any such mortgage agrees to recognize and not disturb this Lease or Tenant's possession of the premises (provided Tenant is not then in uncured default hereunder), if it succeeds to Landlord's interest hereunder, whether by judicial or non judicial foreclosure, deed in lieu of foreclosure or otherwise. If the mortgagee, trustee, or holder of any such mortgage or deed of trust elects to have Tenant's interest in this Lease superior to any such instrument, then by notice to Tenant from such mortgagee, trustee, trustee or trust deed holder, this Lease shall be deemed superior to such lien lien, whether this Lease was executed before or after said mortgage or deed of trust so long as such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods)trust. Tenant shall at any time hereafter on demand ten (10) days notice execute any instruments, releases reasonable instruments or other documents documents, which may be reasonably required by any such mortgagee for the purpose of subjecting and subordinating this Lease to the lien of any such mortgage, provided that Tenant is delivered the SNDA as may be the case, but for no other purpose whatsoever (described herein. Landlord and Tenant expressly disclaims each hereby agrees that the form of SNDA attached hereto as Exhibit "D" is mutually approved by and acceptable to them, subject to the review and approval thereof by any obligation current or future holder of a mortgage on the property and building in which the premises is located. In the event there is a mortgage on the property as of the commencement date hereof but Landlord fails or is unable to modify deliver an SNDA executed by the terms holder thereof to Tenant by such commencement date, then, from and after the commencement date until such time as an SNDA executed by Landlord and such holder is delivered to Tenant for execution and recording, Tenant shall have the right to pay into escrow with ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ LLP, or with by a title insurance company or agent reasonably acceptable to Landlord and Tenant, an amount equal to one-half (1/2) of the Rent otherwise payable to Landlord hereunder, and to pay the other one-half of its Rent to Landlord, without being deemed to be or held or construed to be in default hereunder. Upon receipt of an SNDA executed by Landlord and such holder, Tenant shall, within three (3) business days thereafter by notice to the escrow agent with a copy to Landlord, instruct and authorize the escrow holder to release and pay such escrowed Rents, together with the interest earned thereon, if any, to Landlord. If, prior to the date of delivery of such an SNDA to Tenant, the holder of such mortgage declares Landlord to be in default under such mortgage or commences proceedings for the judicial or non-judicial foreclosure of such mortgage, and if, during the first sixty (60) days after such default is declared or the first sixty (60) days after the commencement of such proceedings (whichever is earlier), such holder fails to enter into an SNDA with Tenant or to otherwise agree in writing with Tenant and in recordable form to accept Tenant's attornment and to recognize this Lease and Tenant's possession and quiet enjoyment of the Premises pursuant to this Lease, then Tenant shall have the right at any time thereafter by notice to give the mortgageeescrow agent to instruct and authorize the escrow agent to release and pay such escrowed Rents, trust deed together with the interest earned thereon, if any, to Tenant, and Tenant shall have the right to continue to pay to Landlord (or to the holder of such mortgage or trustee copies other party entitled to receive such payment, if any) one one-half (1/2) of the Rent otherwise due and payable hereunder, without being deemed or held or construed to be in default hereunder. In such event Tenant shall retain the other one-half (1/2) of such Rent in a separate account maintained by Tenant for such purpose pending receipt of an SNDA or other agreement in writing from Landlord and the holder of such mortgage in recordable form to accept Tenant's attornment and to recognize this Lease and Tenant's possession and quiet enjoyment of the premises pursuant to this Lease. Upon receipt of such SNDA or other agreement in writing and in recordable form, Tenant shall release and pay any notices delivered and all such Rents (whether in escrow or previously returned to Tenant) to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord the holder of such mortgage or such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of this Lease other party (if any) who shall be signed by each party and filed with the C▇▇▇ County Recorder of Deedsentitled to receive such payment at such time.

Appears in 1 contract

Sources: Warehouse Lease Agreement (First Horizon Pharmaceutical Corp)

Mortgages. Tenant accepts a. Lessee acknowledges that Lessor shall execute and deliver one or more mortgages with respect to its interest in the Premises and Ground Lease Property (each a "Mortgage") in order to secure Permitted Financing and, in connection therewith, shall assign its interest in and to this Lease subject and subordinate to any mortgage(s) and deeds of trust now Lease. If either Lessor or at any time hereafter constituting a first lien or charge upon the Property, or the improvements situated thereon, provided, however, that if the mortgagee, grantee or trustee under any such Mortgage provides written notice to Lessee of the existence of such Mortgage and the address of the mortgagee, grantee or trustee thereunder for the service of notices, such mortgagee, grantee or trustee, or holder a shareholder, director, officer, partner (general or limited) or member of any such mortgage or deed of trust elects to have Tenant's interest in this Lease superior to any such instrumentthe foregoing, then by notice to Tenant from such mortgagee, trustee, or trust deed holder, this Lease shall be deemed superior to be a "Mortgage Lender" hereunder and entitled to the rights and protections afforded a Mortgage Lender in this Lease. b. If any Mortgage Lender or a person designated by such lien whether Mortgage Lender shall either become the owner of the Property upon the exercise of any remedy provided for in the Mortgage, such Mortgage Lender or such person shall have the right to assign to any person this Lease was executed before or after said mortgage such new lease upon notice to Lessee, without obtaining the consent or deed approval of trust so long as such mortgagee, trust deed holder or trustee enters into Lessee. c. No surrender (except a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession surrender upon the expiration of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods). Tenant shall at any time hereafter on demand execute any instruments, releases or other documents which may be reasonably required Term) by any such mortgagee for the purpose of subjecting and subordinating this Lease Lessee to the lien of any such mortgage, as may be the case, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify the terms Lessor of this Lease, to give or of the mortgageePremises and Ground Lease Property or any part thereof, trust deed holder or trustee copies of any notices delivered interest therein, and no termination of this Lease, may occur, nor shall any of the terms hereof be amended, modified, changed or cancelled, without the prior written consent of the Mortgage Lender, which consent shall not be unreasonably withheld, conditioned or delayed. d. No Mortgage Lender shall become personally liable for the performance or observance of any covenants or conditions to Landlordbe performed or observed by Lessor. e. In the event Mortgage Lender imposes a written condition to closing on a loan secured by a Mortgage that the Lease be amended in one or more specific respects and Lessor determines to so amend this Lease, Lessee shall promptly execute an amendment to this Lease in the form required by Lessor, provided such amendment does not increase any of the financial or other obligations of Lessee or materially reduce the obligations of Lessor hereunder. f. Lessee covenants and agrees to furnish to Mortgage Lender as soon as practicable after the end of each fiscal quarter of Lessee, and in no event later than forty-five (45) days thereafter, internally prepared financial statements of Lessee for such quarter consisting of the balance sheets of Lessee as of the end of such quarter and the related statements of income and cash flows for the quarter, accompanied by the certificate of Lessee's chief financial officer (or equivalent), certifying (i) that such financial statements were prepared in accordance with generally accepted accounting principles; and (ii) that no Event of Default has occurred and is continuing under this Lease, or if such Event of Default is continuing, how Lessee proposes to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee)cure the same. g. Lessee covenants and agrees to furnish to Mortgage Lender as soon as practicable after the end of each fiscal year, and provided in no event later than one hundred twenty (120) days thereafter, audited financial statements of Lessee for such fiscal year consisting of the balance sheets of Lessee as of the end of such fiscal year and the related statements of income and cash flows for the fiscal year then ended, setting forth in comparative form the figures for the previous fiscal year, all in reasonable detail and prepared by a certified public accountant reasonably acceptable to Mortgage Lender, accompanied by such accountant's unqualified opinion as to such financial statements and a copy of the management letter issued in connection with such accountant's audit thereof, and accompanied by the certificate of the chief financial officer of Lessee (or the equivalent) that such mortgageestatements fairly present the financial position, trust deed holder results of operations and cash flows of Lessee as of such date and for such fiscal year and were prepared in accordance with generally accepted accounting principles. h. Lessee covenants and agrees to promptly notify Mortgage Lender with respect to (i) the occurrence of any event that materially adversely affects Lessee, its properties, financial position or trustee enters into a non-disturbance agreement with Tenant ability to conduct its business operations in substantially the manner and level contemplated to be conducted as required pursuant to of the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum date of this Lease shall be signed by each Lease, (ii) any modification of any law, regulation or ordinance of the State of Indiana, or any agency or political subdivision thereof, that has a material adverse effect on Lessee's ability to maintain its gaming license or to conduct its gaming business at its present location, and (iii) the commencement of any action, suit or proceeding before any court or arbitrator or any governmental department, board, agency or other instrumentality affecting Lessee or any property of Lessee in which an adverse determination or result would have a material adverse effect on the business, operations, property or condition (financial or otherwise) of Lessee or on the ability of Lessee to perform its obligations under this Lease, stating the nature and status of such event, amendment, action, suit or proceeding and providing such additional information as Mortgage Lender may reasonably request. i. The parties hereto acknowledge and agree that the Mortgage Lenders are express third party beneficiaries of this Lease, including for purposes of Sections 15 and filed with the C▇▇▇ County Recorder of Deeds34 hereof.

Appears in 1 contract

Sources: Parking Lease (Trump Indiana Inc)

Mortgages. Tenant accepts this Lease subject and subordinate to any mortgage(s) and mortgages and/or deeds of trust now or at any time hereafter constituting a first lien or charge upon the Property, Premises or the improvements situated thereon, thereon or the Building; provided, however, that if the mortgagee, trustee, or holder of any such mortgage or deed of trust elects to have Tenant's interest in this Lease superior to any such instrument, then by notice to Tenant from such mortgagee, trustee, trustee or trust deed holder, this Lease shall be deemed superior to such lien lien, whether this Lease was executed before or after said mortgage or deed of trust trust. Notwithstanding the foregoing, this Lease shall not be subordinate to any future mortgage or ground lease unless the ground lessor or mortgagee executes and delivers to Tenant a subordination, non-disturbance and attornment agreement on the standard form of Tenant's mortgagee or ground lessor containing an agreement that Tenant's leasehold interest hereunder and other rights and options shall not be disturbed in the event that the ground lessor or mortgagee succeeds to Landlord's rights hereunder, so long as such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession no event of the Premises so long as Tenant is not in default exists hereunder (after any beyond applicable notice and/or and cure periods)periods and Tenant attorns to such successor. Tenant shall Tenant, at any time hereafter on within fifteen (15) days after written demand therefor, shall execute any commercially reasonable instruments, releases or other documents which that may be reasonably required by any such mortgagee for the purpose of subjecting and subordinating this Lease to the lien of any such mortgage. Landlord agrees to use commercially reasonable efforts to deliver to Tenant a subordination, as may be non-disturbance and attornment agreement with respect to the case, but for no other purpose whatsoever existing mortgage on the standard form of Tenant's mortgagee within thirty (and Tenant expressly disclaims any obligation to modify 30) days following the terms full execution of this Lease, to give the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of Deeds.

Appears in 1 contract

Sources: Commercial Lease Agreement (Intest Corp)

Mortgages. Contemporaneously with the execution of this Lease, Tenant accepts and Landlord shall execute and acknowledge, and Landlord shall exercise commercially reasonable efforts to obtain from the existing Mortgagee (as defined in this Article XXI), an SNDA on the existing Mortgagee’s form attached as Exhibit L and incorporated herein (“Existing Mortgage SNDA”). Subject to the terms of a fully executed SNDA, this Lease is subject and subordinate to any mortgage(sfuture ground or underlying leases (each a “Ground Lease”) and deeds to any mortgage, deed of trust trust, security interest, or title retention interest now or at hereafter affecting the Land, Building or Project (each a “Mortgage”) and to all renewals, modifications, consolidations, replacements and extensions thereof. This subordination shall be self-operative; however, in confirmation thereof, Tenant shall, within 10 days of receipt thereof, execute any time hereafter constituting a first lien or charge upon the Propertyinstrument that Landlord, or the improvements situated thereon, provided, however, that if the mortgagee, trustee, any ground lessor under a Ground Lease (“Ground Lessor”) or any holder of any note or obligation secured by Mortgage (“Mortgagee”) may request confirming such mortgage subordination or deed Tenant’s attornment to such Ground Lessor or purchaser of trust elects to have Landlord’s interest under this Lease, as applicable, and providing, among other things, that so long as there is no Event of Default hereunder, Tenant's interest in ’s use and occupancy of the Premises and its rights under this Lease superior shall not be disturbed or affected following, as applicable the termination of such Ground Lease or by any foreclosure or other action (or by the delivery or acceptance of a deed or other conveyance or transfer in lieu thereof) which may be instituted or undertaken in order to enforce any right or remedy available under the Mortgage (“SNDA”). Notwithstanding the foregoing, before any foreclosure sale under a Mortgage or termination of a Ground Lease, subject to the terms of any applicable SNDA, the Mortgagee or Ground Lessor, as applicable, shall have the right to subordinate the Mortgage or Ground Lease, as applicable, to this Lease, in which case, in the event of such instrument, then by notice to Tenant from such mortgagee, trustee, foreclosure or trust deed holdertermination, this Lease shall be deemed superior to such lien whether this Lease was executed before or after said mortgage or deed of trust so long as such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant may continue in form full force and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods). effect and Tenant shall at any time hereafter on demand execute any instruments, releases or other documents which may be reasonably required by any such mortgagee for the purpose of subjecting attorn to and subordinating this Lease to the lien of any such mortgagerecognize as its landlord, as may be applicable, the case, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify Ground Lessor or the terms purchaser at foreclosure of Landlord’s interest under this Lease, to give the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of Deeds.

Appears in 1 contract

Sources: Office Lease (McAfee Corp.)

Mortgages. Tenant accepts this 12.1 This Lease shall be subject and subordinate to any mortgage(s) and deeds of trust mortgage now or hereafter on the entire property and to each advance made or to be made under any mortgage and to all renewals, modifications, consolidations, replacements, and extensions thereof and all substitutions therefor. This section shall be self-operative and no further instrument of subordination shall be required. In confirmation of such subordination, LESSEE shall execute and deliver promptly any certificate that LESSOR or any mortgagee may request. In the event that any mortgagee or respective successor in title shall succeed to the interest of LESSOR, then, at any time hereafter constituting a first lien the option of such mortgagee or charge upon the Propertysuccessor, this Lease shall nevertheless continue in full force and effect and LESSEE shall and does hereby agree to attorn to such mortgagee or the improvements situated thereon, provided, however, that if the mortgagee, trustee, successor and to recognize such mortgagee or holder of any successor as its LESSOR. Any such mortgagee may subordinate its mortgage or deed of trust elects encumbrance to have Tenantthis Lease, without LESSEE's interest in this Lease superior to any such instrumentconsent, then by notice in writing to Tenant from such mortgageeLESSEE, trustee, or trust deed holder, and thereupon this Lease shall be deemed superior prior in lien to such lien whether mortgage or encumbrance without regard to their respective dates of execution and delivery, and such mortgagee shall have the same rights with respect to this Lease was as though it had been executed before or after said and delivered prior to the execution and delivery of the mortgage or deed of trust so long as and had been assigned to such mortgagee. 12.2 Notwithstanding the provisions of Section 12.1 herein, trust deed holder or trustee enters into this Lease shall not be subordinated to any subsequent hereto mortgage as provided therein, unless and until the mortgagee shall have delivered to LESSEE a standard form mortgage non-disturbance agreement with Tenant in form which provides that such mortgagee shall not disturb LESSEE's tenancy hereunder if and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises so long as Tenant is LESSEE shall not be in default hereunder (after any applicable notice and/or cure periods). Tenant shall at any under the Terms of this Lease. 12.3 Subject to the provisions of Section 12.2 herein, LESSEE agrees, from time hereafter on demand execute any instruments, releases or other documents which to time as may be reasonably required requested by LESSOR, to execute, acknowledge, and deliver to LESSOR all or any of the following documents: an agreement to recognize and attorn to any mortgagee or party holding a similar encumbrance now or hereafter placed on The Premises or any part thereof; agreement certifying to such mortgagee for the purpose of subjecting and subordinating a party as LESSOR may designate, including any mortgagee, that this Lease is in full force and effect and unmodified and that LESSEE has no defense, off-sets or counterclaim hereunder or otherwise against LESSOR, with respect to the lien of any this Lease or The Premises (or if such mortgage, as may not be the case, but for no specifying in reasonable detail the extent and nature thereof) and the date to which Rent has been paid; and any other purpose whatsoever (and Tenant expressly disclaims instrument as may be reasonably requested to be executed by LESSEE by any obligation mortgagee of The Premises or any part thereof. 12.4 LESSOR reserves the right to modify the terms of this Leaseassign, to give the mortgageewithout notice, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed by each party as additional security for and filed with the C▇▇▇ County Recorder under any and all construction and/or permanent financing accommodations for construction of DeedsThe Premises.

Appears in 1 contract

Sources: Lease Agreement

Mortgages. Tenant accepts At the option of the Landlord, this Lease shall be subject and subordinate to any mortgage(s) and all mortgages, charges and deeds of trust trust, which may now or at any time hereafter constituting a first lien affect the Premises in whole or charge upon the Propertyin part, or the improvements situated thereonLands or the Building in whole or in part, provided, however, that if the mortgagee, trustee, whether or holder of not any such mortgage mortgage, charge or deed of trust elects to have Tenant's interest affects only the Premises or the Lands or the Building or affects other premises as well, provided that, in this Lease superior to each such case, any party being the beneficiary of any such instrumentencumbrance, then by notice grants to the Tenant from such mortgagee, trustee, or trust deed holder, this Lease shall be deemed superior to such lien whether this Lease was executed before or after said mortgage or deed of trust so long as such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to agreeing that the interest of the Tenant pursuant to which this Lease shall not be disturbed so long as the Tenant performs the covenants set forth in this Lease. The Tenant may register any such non-disturbance agreement or notice thereof. On request at any time and from time to time of the Landlord or of the mortgagee, chargee or trustee under any such mortgage, charge or deed of trust, the Tenant shall promptly, at no cost to the Landlord or mortgagee, chargee or trustee: (a) attorn to such mortgagee, trust deed holder chargee or trustee agrees, not to disturb Tenant's possession and become its tenant of the Premises so long or the tenant of the Premises of any purchaser from such mortgagee, chargee or trustee in the event of an exercise of any permitted power of sale contained in any such mortgage, charge or deed of trust for the then unexpired residue of the Term on the terms herein contained, and/or (b) subject to the proviso set forth above, postpone and subordinate this Lease to such mortgage, charge or deed of trust to the intent that this Lease and all right, title and interest of the Tenant in the Premises shall be subject to the rights of such mortgagee, chargee or trustee as fully as if such mortgage charge or deed of trust had been executed and registered and the money thereby secured had been advanced before the execution of this Lease (and notwithstanding any authority or consent of such mortgagee, chargee or trustee, express or implied, to the making of this Lease). Provided that this Lease and the Tenant's rights hereunder shall continue undisturbed while the Tenant is not in default hereunder (after any applicable notice and/or cure periods). Tenant shall at any time hereafter on demand execute any instruments, releases or other documents which may be reasonably required by despite default under any such mortgagee for the purpose mortgage, charge or deed of subjecting trust. Any such attornment or postponement and subordinating this Lease subordination shall extend to the lien all renewals, modifications, consolidations, replacements and extensions of any such mortgage, as charge or deed of trust and every instrument supplemental or ancillary thereto or in implementation thereof. The Tenant shall forthwith execute any instruments of attornment or postponement and subordination which may be the case, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify the terms of this Lease, so requested to give the mortgagee, trust deed holder or trustee copies of any notices delivered effect to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of DeedsArticle.

Appears in 1 contract

Sources: Lease Agreement (Compuflight Inc)

Mortgages. Tenant accepts hereby agrees that this Lease shall be subject and subordinate to any mortgage(s) and deeds deed of trust trust, mortgage or other security instrument (each, a “Mortgage”), or any master lease or primary lease (each a “Primary Lease”), that now or at any time hereafter constituting a first lien covers the Premises and to all renewals, modifications, consolidations, replacements and extensions thereof and to each advance made or charge upon hereafter to be made thereunder, provided the Property, holder of such Mortgage or the improvements situated thereonlessor under such Primary Lease (and any of their respective successors) (collectively, provided, however, that if the mortgagee, trustee, or holder of any such mortgage or deed of trust elects to have Tenant's interest in this Lease superior to any such instrument, then by notice “Landlord’s Mortgagee”) delivers to Tenant from such mortgagee, trustee, or trust deed holder, this Lease shall be deemed superior to such lien whether this Lease was executed before or after said mortgage or deed of trust so long as such mortgagee, trust deed holder or trustee enters into a nonNon-disturbance agreement with Agreement in a form reasonably acceptable to the Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, whereby the Landlord’s Mortgagee agrees not to disturb Tenant's ’s possession of the Premises so long as Tenant is not in default hereunder under this Lease and further agrees to continue to recognize the interest of Tenant under this Lease and that this Lease will continue with the same force and effect, without the necessity of executing any new or amended lease, as if such holder or lessor (after or its successor) had entered into a lease on the same terms and conditions as those contained in this Lease. In confirmation of such subordination, Tenant shall, at Landlord’s request, execute promptly any applicable notice and/or cure periods)appropriate certificate or instrument that Landlord may request. Tenant shall at any time hereafter on demand execute any instruments, releases In the event of the enforcement by the Landlord’s Mortgagee of the remedies provided for by law or other documents which may be reasonably required by any such mortgagee for the purpose Mortgage or Primary Lease, Tenant will, upon request of subjecting and subordinating this Lease any person or party succeeding to the lien interest of any said trustee, beneficiary or landlord as a result of such mortgageenforcement, as may be automatically become the casetenant of, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify attorn to, such successor in interest without change in the terms or provisions of this Lease, to give the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of Deeds.

Appears in 1 contract

Sources: Lease Agreement (Collegiate Pacific Inc)

Mortgages. Tenant accepts this Lease subject and subordinate to any mortgage(s) and mortgages and/or deeds of trust now or at any time hereafter constituting a first lien or charge upon the Property, Premises or the improvements situated thereon, ; provided, however, that if the mortgagee, trustee, or holder of any such mortgage or deed of trust elects to have Tenant's interest Tena▇▇'▇ ▇nterest in this Lease superior to any such instrument, then by notice to Tenant from such mortgagee, trustee, trustee or trust deed holder, this Lease shall be deemed superior to such lien lien, whether this Lease was executed before or after said mortgage or deed of trust so long as such mortgageetrust. Tenant, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods). Tenant shall at any time hereafter on demand demand, shall execute any instruments, releases or other documents which that may be reasonably required by any such mortgagee mortgagee, trustee or holder for the purpose of subjecting and subordinating this Lease to the lien of any such mortgagemortgage or deed of trust. If any future mortgagee or beneficiary under a mortgage or deed of trust hereafter placed upon the Premises desires to subordinate its mortgage or deed of trust to this Lease, Tena▇▇ ▇▇▇ees that it shall promptly execute such instruments as may be reasonably required by such mortgagee or beneficiary in order to effect such subordination (Tenant agreeing that an instrument in substantially the case, but for no other purpose whatsoever (form of Exhibit "I" attached hereto and made hereof is acceptable to Tenant). Land▇▇▇▇ ▇▇▇ees to obtain and deliver to Tenant expressly disclaims any obligation to modify the terms of this Lease, to give the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into a subordination non-disturbance and attornment agreement in substantially the form attached hereto as Exhibit "H" and made a part hereof ("SNDA") executed by Land▇▇▇▇'▇ ▇urrent mortgagee with Tenant as required pursuant respect to the preceding sentenceBuilding. At Tena▇▇ ▇▇▇ees to enter into the request of either Tenant or LandlordSNDA with such mortgagee promptly upon Land▇▇▇▇'▇ ▇equest therefor. Notwithstanding the foregoing, a short-form or memorandum the subordination of this Lease shall be signed by each party to any mortgage or deed of trust that is hereafter placed upon the Building is expressly conditioned upon Tenant and filed with the Cmortgagee or beneficiary under any such mortgage or deed of trust entering into an SNDA in a form reasonably acceptable to Tenant (Tenant hereby agreeing that an SNDA substantially in the form that is attached hereto as Exhibit "H" and made a part hereof is acceptable to Tenant). Tena▇▇ ▇▇▇ees to enter into such SNDA with any such mortgagee or beneficiary promptly upon Land▇▇▇▇'County Recorder of Deeds▇equest therefor.

Appears in 1 contract

Sources: Lease Agreement (Advancepcs)

Mortgages. Landlord represents that on the Date of Execution of Lease, there is no mortgage affecting the Land, Building and/or Property. Tenant accepts this Lease subject covenants and subordinate to agrees that, if by reason of default under any mortgage(s) and deeds of trust now or at any time hereafter constituting a first lien or charge upon the Property, or the improvements situated thereon, provided, however, that if the mortgagee, trustee, or holder of any such mortgage or deed of trust elects which may hereafter affect the Land, Building and/or Property, the mortgagee thereunder enters into and becomes possessed of the said mortgaged property either through possession, foreclosure action, deed in lieu of foreclosure, or other proceeding, or in the event of the sale of the said mortgaged property as a result of any action or proceeding to have Tenant's interest in foreclosure the said mortgage, Tenant will attorn to the mortgagee or such then owner as its landlord under this Lease superior Lease. Tenant agrees to execute and deliver, at any time and from time to time, upon the request of the mortgagee or the then owner of the said mortgaged property of which the Demised Premises forms a part any instrument which may be necessary or appropriate to evidence such attornment and Tenant hereby appoints the mortgagee or the then owner of the said mortgaged property the attorney-in-fact, irrevocable, of Tenant to execute and deliver for and on behalf of Tenant any such instrument, then by notice to Tenant from such mortgagee, trustee, or trust deed holder, this Lease shall be deemed superior to such lien whether this Lease was executed before or after said . In the event there hereafter exists a mortgage or deed of trust so long as that affects the Land, Building and/or Property, and such mortgageemortgagee desires to subordinate this Lease, trust deed holder or trustee enters into such Subordination shall not be effective until and unless such mortgagee executes a non-disturbance disturbance, subordination and attornment agreement with Tenant in form and substance satisfactory reasonably acceptable to Tenant pursuant to which whereby such mortgagee, trust deed holder or trustee agrees, mortgagees agree not to disturb Tenant's ’s possession of the Premises under this Lease so long as no event of default by Tenant is not in default hereunder (after any beyond applicable notice and/or and cure periods)periods exists. Tenant shall at any time hereafter on demand execute any instruments, releases or other documents which may be reasonably required by any such mortgagee for the purpose of subjecting and subordinating this Lease deemed to the lien of any such mortgage, as may be the case, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify the terms of this Lease, to give the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or approved such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into a ’s form of non-disturbance disturbance, subordination and attornment agreement with if Tenant as required pursuant fails to the preceding sentence. At the accept or make comments to such form within 15 days after written receipt of request of either Tenant to review and approve or Landlord, a short-form or memorandum of this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of Deedsdisapprove such form.

Appears in 1 contract

Sources: Lease Agreement (KMG America CORP)

Mortgages. Tenant Lessee accepts this Lease subject and subordinate to any mortgage(s) and mortgages and/or deeds of trust now or at any time hereafter constituting a first lien or charge upon the Property, Premises or the improvements situated thereonthereon or the building of which the Premises are a part, provided, however, that if the mortgagee, trustee, or holder of any such mortgage or deed of trust elects to have TenantLessee's interest in this Lease superior to any such instrument, then by notice to Tenant Lessee from such mortgagee, trustee, trustee or trust deed holder, this Lease shall be deemed superior to such lien lien, whether this Lease was executed before or after said mortgage or deed of trust so long as such mortgageetrust. Lessee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods). Tenant shall at any time 5 8 hereafter on demand demand, shall execute any instruments, releases or other documents which that may be reasonably required by any such mortgagee for the purpose of subjecting and subordinating this Lease to the lien of any such mortgage. 21. MECHANIC'S LIENS. Lessee has no authority, as express or implied, to create or place any lien or encumbrance of any kind or nature whatsoever upon, or in any manner to bind the interest of Lessor or Lessee in the Premises or to charge the rentals payable hereunder for any claim in favor of any person dealing with Lessee, including those who may furnish materials or perform labor for any construction or repairs. Lessee covenants and agrees that it will pay or cause to be paid all sums legally due and payable by it on account of any labor performed or materials furnished in connection with any work performed on the casePremises and that it will save and hold Lessor harmless from any and all loss, but for no other purpose whatsoever (cost or expense based on or arising out of asserted claims or liens against the leasehold estate or against the right, title and Tenant expressly disclaims any obligation to modify interest of the Lessor in the Premises or under the terms of this Lease, . Lessee agrees to give Lessor immediate written notice of the mortgagee, trust deed holder or trustee copies placing of any notices delivered to Landlord, lien or to waive any claims which Tenant may then have or which may arise thereafter encumbrance against Landlord or such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of DeedsPremises.

Appears in 1 contract

Sources: Commercial Lease Agreement (Craftmade International Inc)

Mortgages. Tenant accepts this (a) This Lease subject and shall be subordinate to any mortgage(sdeed of trust, mortgage or other security instrument (a "Mortgage") and deeds of trust any ground lease, master lease, or primary lease (a "Primary Lease") that now or at hereafter covers any time hereafter constituting a first lien or charge upon portion of the Property, Premises (the mortgagee under any Mortgage or the improvements situated thereonlessor under any Primary Lease is referred to herein as "Landlord's Mortgagee") and to increases, renewals, modifications, consolidations, replacements, and extensions thereof; provided, however, that if the mortgagee, trustee, or holder of any such mortgage or deed of trust elects to have Tenant's interest in this Lease superior to any such instrument, then by notice to Tenant from such mortgagee, trustee, or trust deed holder, this Lease shall be deemed superior to such lien whether this Lease was executed before or after said mortgage or deed of trust so long as such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises ; so long as Tenant is not the sole tenant of the Building the foregoing automatic subordination shall be conditioned on Tenant’s receipt of a subordination non-disturbance and attornment agreement (“SNDA”) on terms and conditions reasonably acceptable to Tenant and any Landlord’s Mortgagee. Tenant agrees to execute and return any such SNDA with ten (10) days after written request provided the terms and conditions thereof are reasonably acceptable to Tenant. However, any Landlord's Mortgagee may elect to subordinate its Mortgage or Primary Lease (as the case may be) to this Lease by delivering written notice thereof to Tenant. (b) Tenant shall attorn to any party succeeding to Landlord's interest in default hereunder (after any applicable notice and/or cure periods)the Premises, whether by purchase, foreclosure, deed in lieu of foreclosure, power of sale, termination of lease, or otherwise, upon such party's request, and shall execute such agreements confirming such attornment as such party may reasonably request. Tenant shall at not seek to enforce any time hereafter remedy it may have for any default on demand execute the part of Landlord without first giving written notice by certified mail, return receipt requested, specifying the default in reasonable detail to any instrumentsLandlord's Mortgagee whose address has been given to Tenant, releases or other documents which may be reasonably required by and affording such Landlord's Mortgagee the same opportunity to perform Landlord's obligations hereunder. (c) Notwithstanding any such mortgagee for the purpose attornment or subordination of subjecting and subordinating this a Mortgage or Primary Lease to the lien of any such mortgage, as may be the case, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify the terms of this Lease, to give the mortgagee, trust deed holder or trustee copies Landlord's Mortgagee shall not be liable for any acts of any notices delivered previous landlord, shall not be obligated to Landlord, or furnish the Construction Allowance (as defined in Exhibit B) and shall not be bound by any amendment to waive which it did not consent in writing nor any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request payment of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of Deedsrent made more than one month in advance.

Appears in 1 contract

Sources: Lease Agreement (Luminex Corp)

Mortgages. Tenant accepts this Lease subject and subordinate to any mortgage(s) and mortgages and/or deeds of trust now or at any time hereafter constituting a first lien or charge upon the Property, Premises or the improvements situated thereon, ; provided, however, that if the mortgagee, trustee, or holder of any such mortgage or deed of trust elects to have Tenant's interest in this Lease superior to any such instrument, then by notice to Tenant from such mortgagee, trustee, trustee or trust deed holder, this Lease shall be deemed superior to such lien lien, whether this Lease was executed before or after said mortgage or deed of trust so long as such mortgagee, trust deed holder or trustee enters into trust. Landlord agrees to promptly obtain and deliver to Tenant a subordination non-disturbance and attornment agreement in substantially the form attached hereto as Exhibit "G" and made a part hereof ("SNDA") executed by Landlord's current mortgagee with respect to the Land. Tenant agrees to enter into the SNDA with such mortgagee promptly upon Landlord's request therefor. Notwithstanding the foregoing, the subordination of this Lease to any mortgage or deed of trust that is hereafter placed upon the Land is expressly conditioned upon Tenant and the mortgagee or beneficiary under any such mortgage or deed of trust entering into an SNDA in a form and substance satisfactory reasonably acceptable to Tenant pursuant to which such mortgagee(Tenant hereby agreeing that an SNDA substantially in the form that is attached hereto as Exhibit "G" and made a part hereof is acceptable to, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods). Tenant agrees to enter into such SNDA with any such mortgagee or beneficiary promptly upon Landlord's request therefor, Tenant shall at be permitted to record the SNDA in the real property records of Tarrant County, Texas. If any time future mortgagee or beneficiary under a mortgage or deed of trust hereafter on demand placed upon the Land desires to subordinate its mortgage or deed of trust to this Lease, Tenant agrees that it shall promptly execute any instruments, releases or other documents which such instrument as may be reasonably required by any such mortgagee for or beneficiary in order to effect such subordination (Tenant hereby agrees that an instrument in substantially the purpose form of subjecting Exhibit "H" attached hereto and subordinating this Lease made a part hereof is acceptable to the lien of any such mortgage, as may be the case, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify the terms of this Lease, to give the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trusteeTenant), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of Deeds.

Appears in 1 contract

Sources: Lease Agreement (Ameritrade Holding Corp)

Mortgages. (A) Upon request by any holder of a First Mortgage, --------- Tenant accepts shall subordinate Tenant's rights under this Lease subject to such First Mortgage, and to any advances to be made thereunder and the interest thereon, and to all renewals, modifications, replacements and extensions thereof. Tenant's rights under this Lease shall not be subordinate to any mortgage(s) and deeds of trust now or at any time hereafter constituting a first lien or charge upon the Property, or the improvements situated thereon, provided, however, that if the mortgagee, trustee, or holder of the First Mortgage unless the holder thereof has requested that this Lease be subordinate thereto. Any Mortgagee, whether the holder of the First Mortgage or any other Mortgage affecting the Development, may elect to have this Lease made prior to such Mortgage, and in the event of such election and upon notification by any such mortgage or deed of trust elects to have Tenant's interest in this Lease superior to any such instrument, then by notice Mortgagee to Tenant from such mortgagee, trustee, or trust deed holderto that effect, this Lease shall be deemed superior prior in lien to any such lien Mortgage, whether this Lease was executed before is dated or after said mortgage filed prior to or subsequent to the date of such Mortgage. (B) Tenant shall, in the event of exercise of the power of sale or deed in lieu of trust so long foreclosure under any Mortgage, attorn to and recognize such purchaser as landlord under this Lease; provided that said purchaser shall not be liable for any act or omission of any prior landlord or subject to any offsets or defenses which Tenant may have against any prior landlord or be bound by any amendment or modification of this Lease made without the prior written consent of such mortgageeMortgagee. Should any Mortgagee or purchaser require a separate agreement of attornment regarding the matters covered by this Lease, trust deed holder Tenant shall promptly, upon request, enter into any such attornment agreement. (C) At any time and from time to time, Tenant shall, upon request from Landlord, execute, acknowledge and deliver to Landlord or trustee enters into a non-disturbance any potential purchaser of the Development, or to any Mortgagee or potential Mortgagee, an estoppel certificate or statement in writing certifying to all or any part of the following information as Landlord shall request, provided such facts are true and ascertainable: (i) that this Lease constitutes the entire agreement with between Landlord and Tenant and is unmodified and in form full force and substance satisfactory to Tenant pursuant effect (or if there have been modifications, that same is in full force and effect as modified and stating the modification), (ii) the amounts of Minimum Rent, additional rent and other charges under this Lease and the dates to which such mortgageesame have been paid, trust deed holder and that there are no prepaid rents or trustee agreesother sums hereunder, not and the amount of Security Deposit, (iii) that the Premises have been satisfactorily completed, and that all conditions precedent to disturb Tenant's this Lease taking effect have been carried out, (iv) that Tenant has accepted possession of the Premises so long as Premises, that the Lease Term has commenced, that Tenant is not in default hereunder occupying the Premises and operating Tenant's business full-time therefrom, and there are no defaults or offsets which Tenant has against enforcement of this Lease by Landlord, and (after any applicable notice and/or cure periods)v) the actual Commencement Date and Termination Date. Tenant Tenant's certificate or statement shall at any time hereafter on demand execute any instruments, releases or also contain such other documents which information as may be reasonably or customarily required by any such mortgagee the present or potential purchaser or Mortgagee. (D) In the event that, in connection with obtaining financing or refinancing for the purpose of subjecting and subordinating Development, any banking, insurance or other recognized institutional lender shall request reasonable modifications in this Lease as a condition to the lien of any such mortgagefinancing, as may be the caseTenant shall not unreasonably withhold, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify the terms of this Leasedelay or defer Tenant's consent thereto, to give the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder modifications do not materially increase the obligations of Tenant hereunder or trustee enters into a non-disturbance agreement with materially adversely affect the interest of Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of Deedshereby created.

Appears in 1 contract

Sources: Commercial Lease Agreement (Bioshield Technologies Inc)

Mortgages. Tenant accepts this Lease subject and subordinate to any mortgage(s) and mortgages and/or deeds of trust now or at any time hereafter constituting a first lien or charge upon the Property, Premises or the improvements situated thereonthereon or the Building, provided, however, that if the mortgagee, trustee, trustee or holder of any such mortgage or deed of trust elects to have Tenant's interest in this Lease superior to any such instrument, then by notice to Tenant from such mortgagee, trustee, trustee or trust deed holder, this Lease shall be deemed superior to such lien lien, whether this Lease was executed before or after said mortgage or deed of trust so long as such mortgageetrust. Tenant, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods). Tenant shall at any time hereafter on demand demand, shall execute any instruments, releases or other documents which that may be reasonably required by any such mortgagee for the purpose of subjecting and subordinating this Lease to the lien of any such mortgage; provided that (i) such instruments, releases or other documents shall contain a written agreement that, in the event of a foreclosure sale or conveyance in lieu of foreclosure, the purchaser at foreclosure shall not disturb Tenant's possession of the Premises and shall recognize Tenant's rights under the Lease so long as may be Tenant is not in default under the caseLease (or the holder of such mortgage has delivered such non-disturbance agreement to Tenant in a separate instrument), but for no (ii) such instruments, releases or other purpose whatsoever (and Tenant expressly disclaims any obligation to documents shall not modify the terms of the Lease or increase Tenant's obligations or liabilities under the Lease and (iii) so long as Landlord is not in default under such Mortgage and Tenant is not in default under the Lease, such instrument will provide that insurance proceeds will be applied to restoration of the Premises as required under this Lease. Tenant shall not terminate this Lease or pursue any other remedy available to Tenant hereunder for any default on the part of Landlord without first giving written notice by certified or registered mail, return receipt requested, to give the any mortgagee, trust deed trustee or holder or trustee copies of any notices delivered to Landlordsuch mortgage or deed of trust, or to waive any claims the name and post office address of which Tenant may then have or which may arise thereafter against Landlord or has received written notice, specifying the default in reasonable detail and affording such mortgagee, trust deed trustee or holder or trustee)the same opportunity given to Landlord hereunder to make performance, at its election, for and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request on behalf of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of Deeds.

Appears in 1 contract

Sources: Lease Agreement (Xetel Corp)

Mortgages. Tenant accepts this Lease subject and subordinate to any mortgage(s) and deeds and/or deed(s) of trust now or at any time hereafter constituting a first lien or charge upon the Property, Premises or the improvements situated thereon, ; provided, however, that if the mortgagee, trustee, or holder of any such mortgage or deed of trust elects to have Tenant's ’s interest in this Lease superior to any such instrument, then by notice to Tenant from such mortgagee, trustee, trustee or trust deed holder, this Lease shall will be deemed superior to such lien lien, whether this Lease was executed before or after said mortgage or deed of trust so long as such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods)trust. Tenant shall will at any time hereafter on demand execute and provide to Landlord within ten (10) business days of a request therefore, any commercially reasonable instruments, releases or other documents which may be reasonably required by any such mortgagee or trustee for the purpose of further subjecting and subordinating this Lease to the lien of any such mortgage, mortgage or deed to trust in form and substance as may be the case, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify the terms of this Lease, to give the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or reasonably required by such mortgagee, trust deed holder mortgagee or trustee). Notwithstanding the foregoing, and it shall be a condition precedent to any subordination that Tenant be provided that such mortgagee, trust deed holder or trustee enters into with a written non-disturbance agreement with in the form stipulated by Landlord’s lender (provided that: (i) Tenant shall be entitled to request of Landlord’s lender commercially reasonable revisions to said form at its cost which costs include payment of any attorneys’ fees charged to Landlord by Landlord’s lender (as required pursuant reasonably documented by Landlord); and (ii) said form provides that, if the holder of any mortgage or deed of trust shall take title to the preceding sentence. At Premises through foreclosure or deed in lieu of foreclosure or otherwise, Tenant shall be allowed to continue in possession of the request of either Tenant or Landlord, a short-form or memorandum of Premises as provided in this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of Deedsso long as Tenant is not in default, beyond any applicable cure period).

Appears in 1 contract

Sources: Lease Agreement (Precision Biosciences Inc)

Mortgages. Conditioned upon receipt by Tenant of a Subordination, Attornment and Non-Disturbance Agreement as described below, Tenant accepts this Lease subject and subordinate to any mortgage(s) and mortgages and/or deeds of trust now or at any time hereafter constituting a first lien or charge upon the Property, Premises or the improvements situated thereonthereon or the Building, provided, however, that if the mortgagee, trustee, trustee or holder of any such mortgage or deed of trust elects to have Tenant's interest in this Lease superior to any such instrument, then by notice to Tenant from such mortgagee, trustee, trustee or trust deed holder, this Lease shall be deemed superior to such lien lien, whether this Lease was executed before or after said mortgage or deed of trust so long as such mortgageetrust. Tenant, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods). Tenant shall at any time hereafter on demand demand, shall execute any instruments, releases or other documents which that may be reasonably required by any such mortgagee mortgagee, trustee or holder for the purpose of subjecting and subordinating this Lease to the lien of any such mortgage, so long as may be the casea Subordination, but for no other purpose whatsoever (Non- disturbance and Tenant expressly disclaims any obligation to modify the terms of this Lease, to give the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or Attornment Agreement has been executed by such mortgagee, trust deed trustee or holder or trustee), and provided that to Tenant. Tenant shall not terminate this Lease or pursue any other remedy available to Tenant hereunder for any default on the part of Landlord without first giving written notice by certified or registered mail, return receipt requested, to any mortgagee, trustee or holder of any such mortgage or deed of trust, the name and post office address of which Tenant has received written notice, specifying the default in reasonable detail and affording such mortgagee, trust deed trustee or holder a reasonable opportunity (but in no event less than thirty (30) days) to make performance, at its election, for and on behalf of Landlord. Landlord agrees that Landlord shall use reasonable diligence to obtain from each and every mortgagee or trustee enters into a non-disturbance agreement with Tenant as required pursuant lessor that is on will be superior to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed by each party a Subordination, Non-Disturbance and filed with the C▇▇▇ County Recorder of DeedsAttornment Agreement.

Appears in 1 contract

Sources: Lease Agreement (Asyst Technologies Inc /Ca/)

Mortgages. Tenant Sublessee accepts this Lease Sublease subject and subordinate to any mortgage(s) and deeds Master Lease, ground lease, mortgage and/or deed of trust now or at any time hereafter constituting a first lien or charge encumbrance upon the Property, or the improvements situated thereon, provided, however, that if the mortgagee, trustee, or holder of Premises. Notwithstanding any such mortgage subordination, Sublessee's right to quiet possession of the Premises shall not be disturbed if Sublessee is not in default and so long as Sublessee shall pay the Rent and observe and perform all of its obligations hereunder, unless this Sublease is otherwise terminated pursuant to its terms. If any ground lessor, mortgagee or beneficiary under a deed of trust elects to have TenantSublessee's interest in this Lease Sublease superior to any such instrument, then by notice to Tenant Sublessee from such mortgageeground lessor, trustee, mortgagee or trust deed holderbeneficiary, this Lease Sublease shall be deemed superior to such lien ground lease or lien, whether this Lease Sublease was executed before or after said ground lease, mortgage or deed of trust so long as such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods)trust. Tenant Sublessee shall at any time hereafter on demand execute any instruments, releases or other documents which may be reasonably required by any such ground lessor or mortgagee for the purpose of attornment or subjecting and subordinating this Lease Sublease to any ground lease or the lien of any such mortgage. Sublessee's failure to execute each instrument, release or document within ten (10) days after written demand shall constitute an event of default by Sublessee hereunder without further notice to Sublessee, or at Sublessor's and/or Landlord's option Sublessor and/or Landlord shall execute such instrument, release or document on behalf of Sublessee as may be the caseSublessee's attorney-in-fact. Sublessee does hereby make, but for no other purpose whatsoever (constitute and Tenant expressly disclaims any obligation to modify the terms of this Leaseirrevocably appoint Sublessor and/or Landlord as Sublessee's attorney-in-fact, coupled with an interest, and in Sublessee's name, place and stead, to give the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or execute such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement documents in accordance with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of DeedsParagraph 20.

Appears in 1 contract

Sources: Sublease (Blue Holdings, Inc.)

Mortgages. Tenant accepts this Lease subject and subordinate to any mortgage(s) and mortgages and/or deeds of trust now or at any time hereafter constituting a first lien or charge upon the Property, Premises or the improvements situated thereonthereon or the Building, provided, however, that if the mortgagee, trustee, trustee or holder of any such mortgage or deed of trust elects to have Tenant's interest in this Lease superior to any such instrument, then by notice to Tenant from such mortgagee, trustee, trustee or trust deed holder, this Lease shall be deemed superior to such lien lien, whether this Lease was executed before or after said mortgage or deed of trust so long as such mortgageetrust. Tenant, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods). Tenant shall at any time hereafter on demand demand, shall execute any instruments, releases or other documents which that may be reasonably required by any such mortgagee mortgagee, trustee or holder for the purpose of subjecting and subordinating this Lease to the lien of any such mortgagemortgage provided, as may be the casehowever, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify the terms of this Lease, to give the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust trustee or holder executes and delivers to Tenant an agreement not to disturb Tenant's use or occupancy of the Premises under this Lease Agreement upon any foreclosure or conveyance in lieu thereof. Tenant shall not terminate this Lease or pursue any other remedy available to Tenant hereunder for any default on the part of Landlord without first giving written notice by certified or registered mail, return receipt requested, to any mortgagee, trustee or holder of any such mortgage or deed holder or trustee)of trust, the name and provided that post office address of which Tenant has received WRITTEN notice, SPECIFYING THE default in reasonable detail and affording such mortgagee, trust deed trustee or holder or trustee enters into a non-disturbance agreement with Tenant reasonable opportunity (but in no event less than thirty (30) days) to make perforinance, at its election, for and on behalf of Landlord. Landlord shall obtain, as required pursuant Exhibit E to the preceding sentence. At the request of either Tenant or LandlordLease Agreement, a short-Non- Disturbance Agreement executed by holders of any mortgages on the Premises in a form or memorandum of this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of Deedsmutually agreeable to both parties.

Appears in 1 contract

Sources: Lease Agreement (Metrowerks Inc /Tx/)

Mortgages. Tenant accepts this Lease subject and subordinate to any mortgage(s) and mortgages and/or deeds of trust now or at any time hereafter constituting a first lien or charge upon the PropertyPremises, or the improvements situated thereon, the Building or the Land, and to any and all increases, renewals, modifications, consolidations, replacements and extensions of such mortgages and deeds of trust; provided, however, that if the mortgagee, trustee, or holder of any such mortgage or deed of trust elects to have Tenant's interest in this Lease superior to any such instrument, then by notice to Tenant from such mortgagee, trustee, trustee or trust deed holder, this Lease shall be deemed superior to such lien lien, whether this Lease was executed before or after said mortgage or deed of trust so long as trust. The provisions of this Paragraph 20. shall be self-operative, and no further instrument shall be required to effect such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession subordination of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods)this Lease. Tenant shall however, at any time hereafter on demand hereafter, within ten (10) days after demand, execute any instruments, releases or other documents which that may be reasonably required by any such mortgagee for the purpose of subjecting and subordinating this Lease to the lien of any such mortgage. If Tenant fails to execute the same within such ten (10) day period, Landlord is hereby authorized to execute the same as may be the caseattorney-in-fact for Tenant. Tenant agrees to attorn upon demand to any mortgagee, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify the terms trustee under a deed of trust or purchaser at a foreclosure sale or trustee's sale as Landlord under this Lease. The agreement of Tenant to attorn upon demand contained in the immediately preceding sentence shall survive any such foreclosure sale or trustee's sale. Tenant shall upon demand at any time or times, before or after any such foreclosure sale or trustee's sale, execute, acknowledge and deliver to give the any mortgagee, trustee under a deed of trust deed holder or trustee copies of any notices delivered to Landlord, purchaser at a foreclosure sale or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of Deeds53 22.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Royal Bodycare Inc/Nv)

Mortgages. Tenant accepts this (a) This Lease subject and shall be subordinate to any mortgage(sdeed of trust, mortgage or other security instrument (a "Mortgage"), and any ground lease, master lease, or primary lease (a "Primary Lease") and deeds of trust that now or at hereafter covers any time hereafter constituting a first lien or charge upon portion of the Property, Premises (the mortgagee under any Mortgage or the improvements situated thereonlessor under any Primary Lease is referred to herein as "Landlord’s Mortgagee"), providedand to increases, renewals, modifications, consolidations, replacements, and extensions thereof. However, any Landlord’s Mortgagee may elect to subordinate its Mortgage or Primary Lease (as the case may be) to this Lease by delivering written notice thereof to Tenant. The provisions of this Section 21 shall be self-operative, and no further instrument shall be required to effect such subordination; however, Tenant shall from time to time within ten days after request therefor, execute any instruments that if may be required by any Landlord’s Mortgagee to evidence the mortgagee, trustee, or holder subordination of any such mortgage or deed of trust elects to have Tenant's interest in this Lease superior to any such instrumentMortgage or Primary Lease. If Tenant fails to execute the same within such ten-day period, then by notice to Tenant from such mortgageeLandlord may execute the same as attorney-in-fact for Tenant. Notwithstanding the foregoing, trustee, or trust deed holder, the subordination of this Lease to future Mortgages shall be deemed superior subject to such lien whether this Lease was executed before or after said mortgage or deed Tenant’s receipt of trust so long as such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory reasonably acceptable to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises provides in substance that so long as Tenant is not in default hereunder (after any under the Lease past applicable notice and/or cure periods), its use and occupancy of the Premises shall not be disturbed notwithstanding any default of Landlord under such Mortgage. (b) Tenant shall attorn to any party succeeding to Landlord’s interest in the Premises, whether by purchase, foreclosure, deed in lieu of foreclosure, power of sale, termination of lease, or otherwise, upon such party’s request, and shall execute such agreements confirming such attornment as such party may reasonably request. Tenant shall at not seek to enforce any time hereafter remedy it may have for any default on demand execute the part of Landlord without first giving written notice by certified mail, return receipt requested, specifying the default in reasonable detail to any instrumentsLandlord’s Mortgagee whose address has been given to Tenant, releases and affording such Landlord’s Mortgagee an opportunity to perform Landlord’s obligations hereunder during any period expressly allowed Landlord hereunder. (c) Notwithstanding any such attornment or other documents which may subordination of a Mortgage or Primary Lease to this Lease, the Landlord’s Mortgagee shall not be reasonably required liable for any acts of any previous landlord, shall not be obligated to install the Initial Improvements, and shall not be bound by any such mortgagee for amendment to which it did not consent in writing nor any payment of rent made more than one month in advance. (d) Tenant agrees to execute a Subordination, Non-Disturbance and Attornment Agreement in the purpose form of subjecting and subordinating this Lease to Exhibit "F" attached hereto at the lien time of any such mortgage, as may be the case, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify the terms execution of this Lease, . Landlord agrees that it will use good faith efforts to give the mortgagee, trust deed holder or trustee copies of any notices delivered cause Landlord’s Mortgagee to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or execute such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed by each party and filed with the C▇▇▇ County Recorder of DeedsSNDA.

Appears in 1 contract

Sources: Lease Agreement (Hallmark Financial Services Inc)

Mortgages. Tenant ▇▇▇▇▇▇ accepts this Lease subject and subordinate to any mortgage(s) and deeds / or deed(s) of trust now or at any time hereafter constituting a first lien or charge upon the Property, Property or the improvements situated thereonLessor’s leasehold interest under the Base Lease, provided, however, that if the mortgagee, trustee, or holder of any such mortgage or deed of trust elects to have Tenant▇▇▇▇▇▇'s interest in this Lease superior to any such instrument, then by notice to Tenant ▇▇▇▇▇▇ from such mortgagee, trustee, trustee or trust deed holder, this Lease shall be deemed superior to such lien lien, whether this Lease was executed before or after said mortgage or deed of trust so long as such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods)trust. Tenant Lessee shall at any time hereafter on demand execute any instruments, releases or other documents which may be reasonably required by any such mortgagee for the purpose of subjecting and subordinating this Lease to the lien of any such mortgage, as may be . If the case, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify interests of the terms of this Lease, to give the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of Lessor under this Lease shall be signed transferred by each party reason of foreclosure or other proceedings for enforcement of any mortgage or deed of trust on the Property or the Lessor’s leasehold interest under the Base Lease, Lessee shall be bound to the transferee (sometimes called the "Purchaser") at the option of the Purchaser, under the terms, covenants, and filed conditions of this Lease for the balance of the Lease Term remaining, including any extensions and renewals exercised by ▇▇▇▇▇▇, with the Csame force and effect as if the Purchaser were Lessor under this Lease, and if requested by the Purchaser, ▇▇▇▇▇▇ County Recorder of Deedsagrees to submit to the Purchaser, including the mortgagee under any such mortgage if it be the Purchaser, as its landlord.

Appears in 1 contract

Sources: Commercial Lease Agreement

Mortgages. Tenant accepts Lessee may from time to time without further consent of the Lessors assign this Lease subject and subordinate lease by way of mortgage to any mortgage(s) bank, insurance company or other established lending institution as mortgagee, and deeds the mortgagee may enforce such mortgage and acquire title to the leasehold estate in any lawful way, and pending foreclosure of trust now or at any time hereafter constituting such mortgage may take possession of and rent said premises, and upon foreclosure thereof may without further consent of the Lessors sell and assign the leasehold estate by assignment in which the assignee shall expressly assume and agree to observe and perform all covenants of the Lessee herein contained, and such assignee may make a first lien or charge purchase money mortgage of this lease to the assignor, provided that upon the Propertyexecution of any such assignment or mortgage a true copy thereof shall be delivered promptly to the Lessors, and that no other or further assignment of this lease for which any provision hereof requires the improvements situated thereonwritten consent of the Lessors shall be made without such consent. The mortgagee shall be liable to perform the obligations of the Lessee hereunder only during such period as it had possession or ownership of the leasehold estate, providedand the terms, however, that covenants and conditions of this lease shall control in case of any conflict with the provisions of such mortgage. During the continuance in effect of any authorized mortgage of this lease the Lessors will not terminate this lease because of any default on the part of the Lessee to observe or perform any of the covenants or conditions herein contained if the mortgagee, trusteewithin sixty (60) days after the Lessors have mailed to the mortgagee at its last known address a written notice of intention to terminate this lease for such cause, shall cure such default, if the same can be cured by the payment of money, or holder if such is not the case, shall undertake in writing to perform all the covenants of any this lease capable of performance by the mortgagee until such time as this lease shall be sold upon foreclosure of such mortgage. In case of such undertaking the Lessors will not terminate this lease within such further time as may be required by the mortgagee to complete foreclosure of such mortgage or deed other remedy thereunder, provided (a) that such remedy is pursued promptly and completed with due diligence, and (b) that all rent and other charges accruing hereunder are paid as the same become due and all other covenants of trust elects this lease capable of performance by the Lessee are duly performed; and upon foreclosure sale of this lease the time for performance of any obligations of this Lessee then in default hereunder, other than the payment of money, shall be extended by the time reasonably necessary to have Tenantcomplete such performance by due diligence. Any default consisting of the Lessee's interest failure to discharge promptly any lien, charge or encumbrance against said premises junior in this Lease superior priority to any such instrument, then by notice to Tenant from such mortgagee, trustee, or trust deed holder, this Lease mortgage shall be deemed superior to be duly cured if such lien whether this Lease was executed before or after said mortgage or deed of trust so long as such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant in form and substance satisfactory to Tenant pursuant to which such mortgagee, trust deed holder or trustee agrees, not to disturb Tenant's possession of the Premises so long as Tenant is not in default hereunder (after any applicable notice and/or cure periods). Tenant shall at any time hereafter on demand execute any instruments, releases or other documents which may be reasonably required by any such mortgagee for the purpose of subjecting and subordinating this Lease to the lien of any such mortgage, as may be the case, but for no other purpose whatsoever (and Tenant expressly disclaims any obligation to modify the terms of this Lease, to give the mortgagee, trust deed holder or trustee copies of any notices delivered to Landlord, or to waive any claims which Tenant may then have or which may arise thereafter against Landlord or such mortgagee, trust deed holder or trustee), and provided that such mortgagee, trust deed holder or trustee enters into a non-disturbance agreement with Tenant as required pursuant to the preceding sentence. At the request of either Tenant or Landlord, a short-form or memorandum of this Lease shall be signed foreclosed by each party appropriate action instituted within said sixty (60) day period and filed with the C▇▇▇ County Recorder of Deedsthereafter prosecuted in diligent and timely manner.

Appears in 1 contract

Sources: Lease Agreement (Primex Technologies Inc)