Common use of New Lease Priorities Clause in Contracts

New Lease Priorities. If more than one Leasehold Mortgagee -------------------- shall request a New Lease pursuant to subsection 4.8.1, Landlord shall enter into such New Lease with the Leasehold Mortgagee whose mortgage is prior in lien or with the designee of such Leasehold Mortgagee. Landlord, without liability to Developer or any Leasehold Mortgagee with an adverse claim, may rely upon a mortgagee title insurance policy issued by a responsible title insurance company doing business within the State of California as the basis for determining the appropriate Leasehold Mortgagee who is entitled to such New Lease.

New Lease Priorities. If more than one Leasehold Mortgagee shall -------------------- shall request a New Lease pursuant to subsection 4.8.1, Landlord shall enter into such New Lease with the Leasehold Mortgagee whose mortgage is prior in lien or with the designee of such Leasehold Mortgagee. Landlord, without liability to Developer or any Leasehold Mortgagee with an adverse claim, may rely upon a mortgagee title insurance policy issued by a responsible title insurance company doing business within the State of California as the basis for determining the appropriate Leasehold Mortgagee who is entitled to such New Lease.

New Lease Priorities. If more than one Leasehold Mortgagee -------------------- shall request a New Lease pursuant to subsection 4.8.1, Landlord shall enter into such New Lease with the Leasehold Mortgagee whose mortgage is prior in lien or with the designee of such Leasehold Mortgagee. Landlord, without liability to Developer or any Leasehold Mortgagee with an adverse claim, may rely upon a mortgagee title insurance policy issued by a responsible title insurance company doing business within the State of California as the basis for determining the appropriate Leasehold Mortgagee who is entitled to such New Lease.