Nondisturbance. Within thirty (30) days after execution hereof, Landlord shall deliver to Tenant a Subordination, Nondisturbance and Attornment Agreement in a form reasonably satisfactory to Tenant (the “SNDA”) executed by Landlord and Existing Mortgagee. The subordination of this Lease to any subsequent Mortgage is conditioned upon the holder thereof expressly agreeing in such SNDA that (i) Tenant will not be named or joined in any proceeding to enforce the Mortgage unless such shall be required by law in order to perfect the proceeding; (ii) enforcement of any Mortgage shall not terminate or modify this Lease or any provision of this Lease or disturb Tenant in the possession and use of the Premises (except in the case where Tenant is in default beyond the period, if any, provided in this Lease to remedy such default), or where mortgagee or its successor will provide Tenant with a new lease on the same terms and conditions as are contained herein, (iii) provided that Landlord or Tenant does not terminate this Lease as a result of a casualty or the exercise of eminent domain, proceeds and awards shall first be applied to the repair, alteration and restoration of the Premises, as provided in this Lease, before being applied to the debt secured by the Mortgage; and (iv) any party succeeding to the interest of Landlord as a result of the enforcement of any Mortgage shall be bound to Tenant, under all the terms, covenants and conditions of this Lease for the balance of the Term, including any extended Term, with the same force and effect as if such party were the original Landlord under this Lease. In the event that Landlord fails to deliver such SNDA to Tenant within such thirty (30) day period, Tenant shall have the right to terminate this Lease by written notice to Landlord.
Appears in 2 contracts
Samples: Lease (Dunkin' Brands Group, Inc.), Lease (Dunkin' Brands Group, Inc.)
Nondisturbance. Within thirty (30) days after execution hereof, Landlord shall deliver to Tenant a Subordination, Nondisturbance and Attornment Agreement in a form reasonably satisfactory to Tenant (the “SNDA”) executed by Landlord and Existing Mortgagee. The subordination of this Lease to any subsequent Mortgage is conditioned upon the holder thereof expressly agreeing in such SNDA that (i) Tenant will not be named or joined in any proceeding to enforce the Mortgage unless such shall be required by law in order to perfect the proceeding; (ii) enforcement of any Mortgage shall not terminate or modify this Lease or any provision of this Lease or disturb Tenant in the possession and use of the Premises (except in the case where So long as Tenant is not in default under the Lease (beyond the period, if any, provided in this Lease any period given Tenant to remedy cure such default), Lender agrees that Tenant’s possession of the Property and Tenant’s other rights and privileges under the Lease or where mortgagee any extensions or its successor will provide renewals thereof, shall not be diminished, disturbed or interfered with by Lender, and if any action or proceeding is commenced by Lender for the foreclosure of the Mortgage and/or the sale of the Property, Tenant with a new lease on the same terms and conditions as are contained herein, (iii) provided that Landlord or Tenant does shall not terminate this Lease be named as a result party defendant therein unless required by law or if the Tenant fails to comply with the terms of this Section. Should Lender become the owner of the Property, or should the Property be sold by reason of foreclosure, or other proceedings brought to enforce the Mortgage, or should the Property be transferred by deed in lieu of foreclosure, or should any portion of the Property be sold under a casualty or trustee’s sale, the exercise of eminent domain, proceeds Lease will continue in full force and awards shall first be applied to effect as a direct lease between the repair, alteration and restoration Lender and/or the succeeding owner of the Premises, as provided in this Leasethe case may be, before being applied to and the debt secured by the Mortgage; and (iv) any party succeeding to the interest of Landlord as a result of the enforcement of any Mortgage shall be bound to Tenant, under upon and subject to all of the terms, covenants and conditions of this the Lease for the balance of its term as it may be extended, and Lender, or any successor owner of the TermPremises, including any extended Term, with will be bound by all of the same terms of the Lease. Lender agrees that so long as the Lease is in full force and effect as if such party were effect, no proper exercise by Tenant of its rights under the original Landlord Lease shall constitute a default under this the Mortgage or require Lender’s consent, and that any conflict between the terms of the Lease and the terms of the Mortgage shall be resolved in favor of the Lease. In the event that Landlord fails to deliver such SNDA to Tenant within such thirty (30) day period, Tenant shall have the right to terminate this Lease by written notice to Landlord.
Appears in 2 contracts
Samples: Office Lease Agreement, Office Lease Agreement (Horizon Pharma PLC)
Nondisturbance. Within thirty (30) days So long as Tenant is not in default under the Lease after execution hereofnotice and beyond any period given Tenant to cure such default, Landlord Lender agrees that Tenant’s possession of the Property and its other rights and privileges under the Lease or any extensions or renewals thereof, shall deliver to not be diminished, disturbed or interfered with by Lender, and if any action or proceeding is commenced by Lender for the foreclosure of the Mortgage and/or the sale of the Property, Tenant a Subordination, Nondisturbance and Attornment Agreement in a form reasonably satisfactory to Tenant (the “SNDA”) executed by Landlord and Existing Mortgagee. The subordination of this Lease to any subsequent Mortgage is conditioned upon the holder thereof expressly agreeing in such SNDA that (i) Tenant will shall not be named as a party defendant therein unless required by law or joined in any proceeding if the Tenant fails to comply with the terms of this Section. Should Lender become the owner of the Property, or should the Property be sold by reason of foreclosure, or other proceedings brought to enforce the Mortgage unless such shall Mortgage, or should the Property be required transferred by law deed in order to perfect the proceeding; (ii) enforcement lieu of foreclosure, or should any Mortgage shall not terminate or modify this Lease or any provision of this Lease or disturb Tenant in the possession and use portion of the Premises (except Property be sold under a trustee’s sale, the Lease will continue in the case where Tenant is in default beyond the period, if any, provided in this Lease to remedy such default), or where mortgagee or its successor will provide Tenant with a new lease on the same terms full force and conditions as are contained herein, (iii) provided that Landlord or Tenant does not terminate this Lease effect as a result of a casualty or direct lease between the exercise of eminent domain, proceeds and awards shall first be applied to Lender and/or the repair, alteration and restoration succeeding owner of the Premises, as provided in this Leasethe case may be (Lender and each such succeeding owner being hereinafter referred to as “Purchaser”), before being applied to the debt secured by the Mortgage; and (iv) any party succeeding to the interest of Landlord as a result of the enforcement of any Mortgage shall be bound to Tenant, under upon and subject to all of the terms, covenants and conditions of this the Lease for the balance of its term as it may be extended, and Lender, or any successor owner of the TermPremises, including any extended Term, with will be bound by all of the same terms of the Lease. Lender agrees that so long as the Lease is in full force and effect as if such party were effect, no proper exercise by Tenant of its rights under the original Landlord Lease shall constitute a default under this Lease. In the event that Landlord fails to deliver such SNDA to Tenant within such thirty (30) day period, Tenant shall have the right to terminate this Lease by written notice to LandlordMortgage.
Appears in 1 contract
Nondisturbance. Within thirty (30) days after execution hereofAs a condition of Tenant’s agreement to subordinate this Lease pursuant to Section 18.1, Landlord shall deliver obtain from the holder of each future Mortgage or lessor under a future Ground Lease in recordable form and in the standard form customarily employed by such holder or lessor pursuant to which such holder or lessor shall agree that if and so long as no Event of Default hereunder shall have occurred and be continuing, the leasehold estate granted to Tenant a Subordination, Nondisturbance and Attornment Agreement in a form reasonably satisfactory the rights of Tenant pursuant to Tenant (the “SNDA”) executed by Landlord and Existing Mortgagee. The subordination of this Lease to any subsequent Mortgage is conditioned upon the holder thereof expressly agreeing in such SNDA that (i) Tenant will not be named or joined in any proceeding to enforce the Mortgage unless such shall be required by law in order to perfect the proceeding; (ii) enforcement of any Mortgage shall not terminate or modify this Lease or any provision of this Lease or disturb Tenant in the possession and use of the Premises (except in the case where Tenant is in default beyond the period, if any, provided in this Lease shall not be terminated by any action which such holder may take to remedy foreclose any such default)Mortgage, or where mortgagee or its which such lessor shall take to terminate such Ground Lease, as applicable, and that any successor will provide Tenant with a new lease on the same terms and conditions as are contained herein, (iii) provided that Landlord or Tenant does not terminate landlord shall recognize this Lease as a result of a casualty or the exercise of eminent domain, proceeds and awards shall first be applied to the repair, alteration and restoration of the Premises, as provided being in this Lease, before being applied to the debt secured by the Mortgage; and (iv) any party succeeding to the interest of Landlord as a result of the enforcement of any Mortgage shall be bound to Tenant, under all the terms, covenants and conditions of this Lease for the balance of the Term, including any extended Term, with the same full force and effect as if it were a direct lease between such party were successor landlord and Tenant upon all of the original Landlord terms, covenants, conditions and options granted to Tenant under this Lease, except as otherwise provided in Section 18.1 (any such agreement, a “Non-Disturbance Agreement”). In Landlord shall use reasonable efforts to (but without the event that Landlord fails obligation to deliver expend monies) obtain a Non-Disturbance Agreement from the holder of the current Mortgage, in the form customarily used by such SNDA holder, but Landlord’s failure to obtain such Non-Disturbance Agreement shall not be a condition of this Lease or release Tenant within such thirty (30) day period, from any obligation hereunder. Tenant shall have pay all costs or other fees charged by the right to terminate this holder of a Mortgage as ground lessor of a Ground Lease by written notice to Landlordfor the preparation and delivery of a Non-Disturbance Agreement.
Appears in 1 contract
Samples: Office Lease (Cision Ltd.)