New Lease with Lender Clause Samples

New Lease with Lender. If this Lease terminates because of Tenant’s default or if the leasehold estate is foreclosed, or if the Lease is rejected or disaffirmed pursuant to bankruptcy law or other law affecting creditors’ rights, Landlord shall, upon written request from any Lender within ninety (90) days after such event, enter into a new lease (the “New Lease”) for the Property, on the following terms and conditions: (i) The terms of the New Lease shall commence on the date of termination, foreclosure, rejection, or disaffirmance and shall continue for the remainder of the term of this Lease, subject to the same terms and conditions set forth in this Lease, as if this Lease had not been terminated. (ii) The New Lease shall be executed within thirty (30) days after receipt (i) pays Landlord all rent and other monetary charges payable by Tenant under the terms of the Lease up to the date of execution of the New Lease, as if the Lease had not been terminated, foreclosed, rejected, or disaffirmed; (ii) performs all other obligations of Tenant under the terms of the Lease, to the extent performance is then due and susceptible of being cured and performed by the Lender within one-hundred twenty (120) days of the termination, foreclosure, rejection, or disaffirmance; and (iii) agrees in writing to perform, or cause to be performed within a reasonable period of time, all non-monetary obligations which have not been performed by Tenant and which should have been performed under this Lease up to the date of commencement of the New Lease, except those obligations which constitute non-monetary defaults not susceptible to cure, as described in (ii) above. Any New Lease granted to the Lender shall enjoy the same priority as this Lease over any lien, encumbrances, or other interest created by Landlord. At the option of the Lender, the New Lease may be executed by a new Tenant designated by such Lender, without the Lender assuming the burdens and obligations of Tenant thereunder provided that the conditions of Section have been satisfied by such new Tenant. (iii) If more than one Lender makes a written request for a New Lease pursuant hereto, the New Lease shall be delivered to the Lender requesting such New Lease whose Leasehold Encumbrance is prior in lien. The provisions of this Section 13 shall survive the termination, rejection, or disaffirmance of the Lease and shall continue in full force and effect thereafter to the same extent as if this Section 13 were a separate and independent con...