No Subordination of Fee. In no event will Landlord be required to subordinate its fee interest in the Sites to the lien of any Person providing financing to Tenant in connection with the performance of the Initial Construction or any Alterations, the purchase of FF&E, Operating Equipment and Operating Supplies, or the maintenance and operation o(pound) the Premises. All liabilities and obligations relating to any such financing shall be the sole responsibility of Tenant, and such financing shall be subject to the provisions of Article XIII. Landlord and Tenant acknowledge the existence of a landlord’s lien pursuant to Chapter 83, Laws of Florida. Notwithstanding the foregoing, Landlord hereby waives its statutory lien with respect to Tenant’s bona fide lenders and, if requested, will execute a landlord waiver agreement with such lender(s).
No Subordination of Fee. Nothing contained in this Lease shall be or ever will be construed as a subordination to any Leasehold Mortgage of the City’s fee interest in the Leased Property or its reversionary interest in the JoePC Improvements. Upon the expiration or termination of this Lease, except as specifically otherwise provided in this Article VI, any Leasehold Mortgage of JoePC’s interest in the Leased Property shall be null and void.
No Subordination of Fee. In no event shall all or any portion of Landlord’s interest, including without limitation, Landlord’s fee interest in the Land or reversionary interest in the Improvements or interest under this Lease, be subject or subordinate to any lien or encumbrance of any mortgage, deed of trust or other security instrument.
No Subordination of Fee. Nothing in this Article is intended to give Tenant any right, power or authority to encumber Landlord's fee interest in the Demised Premises and no Leasehold Mortgage shall encumber Landlord's fee interest in the Demised Premises.
No Subordination of Fee. Landlord shall have no obligation to encumber or otherwise subordinate its fee interest in the Land to the interest of any Registered Mortgagee in the Lease or in Tenant’s leasehold estate.
No Subordination of Fee. Lessor and Lessee acknowledge and agree that Lessor shall not, under any circumstances, agree to subordinate Lessor's fee interest in the Property to any Trust Deed encumbering Lessee's leasehold interest.
No Subordination of Fee. Nothing contained in this Lease shall be or ever will be construed as a subordination of Landlord’s leasehold interest in the Leased Property or its reversionary interest in the LTACH Improvements to any Leasehold Mortgage or as a subordination of the Hospital Authority’s fee interest in the Leased Property or its reversionary interest in the LTACH Improvements to any Leasehold Mortgage. Upon the expiration or termination of this Lease, except as specifically otherwise provided in this Article XI, any Leasehold Mortgage of Tenant’s interest in the Leased Property shall be null and void.
No Subordination of Fee. This Lease is an unsubordinated ground lease. Nothing contained in this Lease shall be or ever will be construed as a subordination of Landlord’s fee interest in the Leased Premises or its reversionary interest in the Development to any Mortgage. Upon the expiration or termination of this Lease, any Mortgage of Tenant’s interest in the Leased Premises shall be null and void.
No Subordination of Fee. Xxxxxxxx's reversionary fee interest in the Property and rights and interests in the Property and this Lease, including without limitation the affordability restrictions and Landlord's right to receive any sums from Tenant, shall not be subordinated to the rights of any lien, mortgage or security interest (including without limitation, the rights of any Leasehold Mortgagees) granted in Tenant's interest under this Lease or granted by Xxxxxx, provided, however, that such Leasehold Mortgagee shall in no way be obligated by the provisions of this Agreement to construct or complete the improvements or to guarantee such construction or completion, nor shall any covenant or any other provision in the Ground Lease for the Site be construed so to obligate such holder. Nothing in this Agreement shall be deemed to construe, permit or authorize any such holder to devote the Site to any uses or to construct any improvements thereon other than those uses or improvements provided for or authorized by this Agreement. Notwithstanding the foregoing, a Leasehold Mortgagee shall have all of the rights set forth in the Leasehold Mortgage, as approved by Landlord in accordance with Section 16.2 herein, to the extent that such rights are not inconsistent with the terms of this Lease, including the right to commence an action against Tenant for the appointment of a receiver and to obtain possession of the Property under and in accordance with the terms of said Leasehold Mortgage; provided, that subject to Leasehold Mortgagee's rights and obligations under Section 16.9 below, all obligations of Tenant hereunder shall be kept current, including but not limited to the payment of sums owing under this Lease and curing of all defaults hereunder. In addition, the City Manager of Landlord or the City Manager’s designee, in his or her discretion, may agree to subordinate the affordability restrictions as set forth in Section 6.2.B.2.c.
