Common use of Notice of Leasehold Mortgages Clause in Contracts

Notice of Leasehold Mortgages. Promptly after OVG enters into any Leasehold Mortgage, OVG shall cause the Leasehold Mortgagee thereunder to deliver to the City a true and correct copy of the Leasehold Mortgage together with written notification specifying the name and address of the Leasehold Mortgagee and agreement to provide notice of default as provided in section 1.1. Such Leasehold Mortgagee shall be entitled to all the rights and protections of a Leasehold Mortgagee under the Lease Agreement (as against both the City and any successor holder of the Fee Estate) from and after (and only from and after) such date as the City receives the foregoing materials. The City agrees to acknowledge to OVG and such Leasehold Mortgagee the City’s receipt of any such materials and, following notification thereof, notice of any Assignment of such Leasehold Mortgage and to confirm that such Leasehold Mortgagee is or will be, upon closing of its financing or its acquisition of an existing Leasehold Mortgage, entitled to all of the rights and protections granted to Leasehold Mortgagee under the Lease Agreement with the same force and effect as if such successor, assign or Affiliate were the Leasehold Mortgagee itself, in the Lease Agreement, including after any premature termination of the Lease Agreement.

Notice of Leasehold Mortgages. Promptly after OVG enters into any Leasehold Mortgage, OVG shall cause the Leasehold Mortgagee thereunder to deliver to the City a true and correct copy of the Leasehold Mortgage together with written notification specifying the name and address of the Leasehold Mortgagee and agreement to provide notice of default as provided in section Section 1.1. Such Leasehold Mortgagee shall be entitled to all the rights and protections of a Leasehold Mortgagee under the Lease Agreement (as against both the City and any successor holder of the Fee Estate) from and after (and only from and after) such date as the City receives the foregoing materials. The City agrees to acknowledge to OVG and such Leasehold Mortgagee the City’s receipt of any such materials and, following notification thereof, notice of any Assignment of such Leasehold Mortgage and to confirm that such Leasehold Mortgagee is or will be, upon closing of its financing or its acquisition of an existing Leasehold Mortgage, entitled to all of the rights and protections granted to Leasehold Mortgagee under the Lease Agreement with the same force and effect as if such successor, assign or Affiliate were the Leasehold Mortgagee itself, in the Lease Agreement, including after any premature termination of the Lease Agreement. If the City has received notice of any Leasehold Mortgage, then such notice shall automatically bind the City’s successors and assigns.

Notice of Leasehold Mortgages. Promptly after OVG ArenaCo enters into any Leasehold Mortgage, OVG ArenaCo shall cause request the Leasehold Mortgagee thereunder to deliver to the City a true and correct copy of the Leasehold Mortgage together with written notification specifying the name and address of the Leasehold Mortgagee and agreement to provide notice of default as provided in section 1.1Mortgagee. Such Leasehold Mortgagee shall be entitled to all the rights and protections of a Leasehold Mortgagee under the Lease this Agreement (as against both the City and any successor holder of the Fee Estate) from and after (and only from and after) such date as the City receives the foregoing materials. The City agrees to acknowledge to OVG ArenaCo and such Leasehold Mortgagee the City’s 's receipt of any such materials and, following notification thereof, notice of any Assignment of such Leasehold Mortgage and to confirm that such Leasehold Mortgagee is or will be, upon closing of its financing or its acquisition of an existing Leasehold Mortgage, entitled to all of the rights and protections granted to Leasehold Mortgagee under the Lease this Agreement with the same force and effect as if such successor, assign or Affiliate were the Leasehold Mortgagee itself, in the Lease this Agreement, including after any premature termination of this Agreement. If the Lease AgreementCity has received notice of any Leasehold Mortgage, then such notice shall automatically bind the City's successors and assigns.

Notice of Leasehold Mortgages. Promptly after OVG enters into any Leasehold Mortgage, OVG shall cause the Leasehold Mortgagee thereunder to deliver to the City a true and correct copy of the Leasehold Mortgage together with written notification specifying the name and address of the Leasehold Mortgagee and agreement to provide notice of default as provided in section Section 1.1. Such Leasehold Mortgagee shall be entitled to all the rights and protections of a Leasehold Mortgagee under the Lease Agreement (as against both the City and any successor holder of the Fee Estate) from and after (and only from and after) such date as the City receives the foregoing materials. The City agrees to acknowledge to OVG and such Leasehold Mortgagee the City’s receipt of any such materials and, following notification thereof, notice of any Assignment of such Leasehold Mortgage and to confirm that such Leasehold Mortgagee is or will be, upon closing of its financing or its acquisition of an existing Leasehold Mortgage, entitled to all of the rights and protections granted to Leasehold Mortgagee under the Lease Agreement with the same force and effect as if such successor, assign or Affiliate were the Leasehold Mortgagee itself, in the Lease Agreement, including after any premature termination of the Lease Agreement.