Common use of Multiple Leasehold Mortgages Clause in Contracts

Multiple Leasehold Mortgages. If more than one Leasehold Mortgagee shall make a written request upon County for a New Lease in accordance with the provisions of Section 17.7, then such New Lease shall be entered into pursuant to the request of the Leasehold Mortgagee holding the Leasehold Mortgage that has the most senior lien priority. Notwithstanding anything herein to the contrary, County shall have no duty or obligation to resolve any disputes or conflicting demands between Leasehold Mortgagees. In the event of any conflicting demands made upon County by multiple Leasehold Mortgagees, County may (subject to any applicable court orders to the contrary) rely on the senior lien priority created when taking into account all subordination and intercreditor agreements then recorded against the Property as determined by a national title company, and, if and to the extent a national title company determines that there are no such subordination and intercreditor agreements so recorded, at the direction of the Leasehold Mortgagee whose Leasehold Mortgage is recorded first in time in the Official Records of the County, as determined by any national title company.