Common use of Notice to Leasehold Mortgagee Clause in Contracts

Notice to Leasehold Mortgagee. Lessor agrees, if and so long as the leasehold estate of Lessee is encumbered by a leasehold mortgage in favor of a Leasehold Mortgagee, to give such Leasehold Mortgagee at such address or addresses as may be specified by the Leasehold Mortgagee to Lessor in writing, written notice of any default or of the happening of any contingency referred to in Section 13.01 hereof, simultaneously with the giving of such notice to Lessee, and no such notice to Lessee shall be effective or be deemed to have been given to Lessee hereunder unless such notice is also given to the Leasehold Mortgagee; and the Leasehold Mortgagee shall have the right, within the period limited by any such notice and for an additional period of thirty (30) days thereafter, and to the same extent and with the same effect as though done by Lessee, to take such action or to make such payment as may be necessary or appropriate to cure any such default or contingency so specified, it being the intention of the parties hereto that Lessor shall not exercise its right to terminate this Lease as in Section 13.01 provided without first affording to any Leasehold Mortgagee the same rights and the same notices with respect to any such default or contingency and the same period or periods of time within which to cure the same, including the right to enter into possession of the Leased Premises, to enable the Leasehold Mortgagee also to do, as are afforded to Lessee hereunder (and a period of thirty (30) days thereafter, and as are afforded to the leasehold mortgagee under this Section 13.08).

Appears in 3 contracts

Samples: Building Lease Agreement (FFP Marketing Co Inc), Ground Lease Agreement (FFP Marketing Co Inc), Lease Agreement (FFP Partners L P)

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Notice to Leasehold Mortgagee. Lessor agreesNotwithstanding anything herein to the contrary, if and so long as the leasehold estate of Lessee is encumbered by a leasehold mortgage in favor of a Leasehold Mortgageeany Tenant Default shall occur, to give such Leasehold Mortgagee at such address or addresses as may be specified by the Leasehold Mortgagee to Lessor in writing, written notice of any default or of the happening of any contingency referred to in Section 13.01 hereof, simultaneously with the giving of such notice to Lessee, and no such notice to Lessee shall be effective or be deemed to have been given to Lessee hereunder unless such notice is also given to the Leasehold Mortgagee; and the Leasehold Mortgagee Landlord shall have the right, within the period limited by any such notice and for an additional period of thirty (30) days thereafter, and to the same extent and with the same effect as though done by Lessee, to take such action or to make such payment as may be necessary or appropriate to cure any such default or contingency so specified, it being the intention of the parties hereto that Lessor shall not exercise its no right to terminate this Lease as in Section 13.01 provided without first affording to any Leasehold Mortgagee the same rights and the same notices with respect to any such default or contingency and the same period or periods of time within which to cure the same, including the terminate Tenant’s right to enter into possession of the Leased Premises, Premises without terminating this Lease unless Landlord shall deliver Notice to enable the Leasehold Mortgagee also of Landlord’s intent to do, as are afforded to Lessee hereunder (and a period of so terminate at least thirty (30) calendar days thereafterin advance of the proposed effective date of such termination. The provisions of Section 25.5 below shall apply if, within such thirty (30) calendar day termination notice period, any such Leasehold Mortgagee (i) pays or causes to be paid all amounts then due and in arrears as specified in the termination Notice to such Leasehold Mortgagee and which will become due during such thirty (30) calendar day period, and (ii) cures or, in good faith and with reasonable diligence and continuity, (a) commences to cure all non-monetary requirements of this Lease then in default and reasonably susceptible of being cured by such Leasehold Mortgagee or (b) if all such non-monetary defaults reasonably susceptible of being cured by such Leasehold Mortgagee are not cured within such thirty (30) calendar day period, then within an additional fifteen (15) calendar days after the end of such thirty (30) calendar day period, commences to exercise its rights to take possession of the Leased Premises as are afforded mortgagee (through seeking the appointment of a receiver or otherwise) or acquire or sell Tenant’s interest in this Lease by foreclosure or assignment in lieu thereof or otherwise with respect to a Leasehold Mortgage (which may include a petition to lift any stay imposed in bankruptcy proceedings and any application to remove any injunction limiting its right to take such actions, so long as, in each case, the leasehold mortgagee under this Section 13.08same is diligently and continuously pursued). The Leasehold Mortgagee shall not be required to continue to proceed to obtain possession, or to continue in possession as mortgagee, of the Leased Premises or to continue to prosecute foreclosure proceedings pursuant to clause (ii) above, if and when such Event of Default shall be cured.

Appears in 2 contracts

Samples: Lease Agreement, Ground Lease Agreement

Notice to Leasehold Mortgagee. Lessor agreesThe Authority, if and so long as the leasehold estate of Lessee is encumbered by a leasehold mortgage in favor of a Leasehold Mortgageeupon providing any notice to CCOI, to give such Leasehold Mortgagee at such address or addresses as may be specified by the Leasehold Mortgagee to Lessor in writingincluding but not limited to, written notice of any (i) a default or an event of default under this Lease, or (ii) a termination of this Lease, or (iii) a matter on which the happening Authority may predicate or claim a default or event of any contingency referred to in Section 13.01 hereofdefault, simultaneously with shall at the giving same time provide a copy of such notice to Lessee, and no every Leasehold Mortgagee. No such notice by the Authority to Lessee CCOI shall be effective or be deemed to have been duly given to Lessee hereunder CCOI unless and until a copy thereof has been so given to each such Leasehold Mortgagee by registered or certified mail at the address specified in the notice given pursuant to Section 9.08(b)(i). From and after the date such notice is also has been given to the a Leasehold Mortgagee; and the , such Leasehold Mortgagee shall have the right, within the period limited by any such notice and for an additional period of thirty (30) days thereafter, and to the same extent and with the same effect as though done by Lessee, to take such action or to make such payment as may be necessary or appropriate to cure any such default or contingency so specified, it being the intention of the parties hereto that Lessor shall not exercise its right to terminate this Lease as in Section 13.01 provided without first affording to any Leasehold Mortgagee the same rights and the same notices with respect to any such default or contingency and the same period or periods of time within specified in Sections 9.08(g) and (h) to remedy, commence remedying, or cause to be remedied the defaults or events of defaults or acts or omissions which are specified in any such notice. The Authority shall accept such performance by or at the instigation of such Leasehold Mortgagee and does hereby authorize any such Leasehold Mortgagee to cure the same, including the right to enter into possession of take any such action at such Leasehold Mortgagee's option and does hereby authorize entry upon the Leased Premises, to enable Premises by the Leasehold Mortgagee also for such purposes. The Leasehold Mortgagee shall in no event be obligated to doremedy, as are afforded commence remedying, or cause to Lessee hereunder (and a period be remedied any default, event of thirty (30) days thereafter, and as are afforded to default or any acts or omissions specified in any notice received by the leasehold mortgagee under this Section 13.08)Leasehold Mortgagee.

Appears in 1 contract

Samples: Lease Agreement (Cornell Corrections Inc)

Notice to Leasehold Mortgagee. Lessor agrees, if and so long as the leasehold estate of Lessee is encumbered by a leasehold mortgage in favor of a Leasehold Mortgagee, to give such Leasehold Mortgagee at such address or addresses as may be specified by the Leasehold Mortgagee to Lessor in writing, written notice of any default or of the happening of any contingency referred to in Section 13.01 hereofthis Article XIII, simultaneously with the giving of such notice to Lessee, and no such notice to Lessee shall be effective or be deemed to have been given to Lessee hereunder unless such notice is also given to the Leasehold Mortgagee; and the Leasehold Mortgagee shall have the right, within the period limited by any such notice and for an additional period of thirty (30) days thereafter, and to the same extent and with the same effect as though done by Lessee, to take such action or to make such payment as may be necessary or appropriate to cure any such default or of contingency so specified, it being the intention of the parties hereto that Lessor shall not exercise its right to terminate this Lease as provided in Section 13.01 provided this paragraph without first affording to any Leasehold Mortgagee the same rights and the same notices with respect to any such default or contingency and the same period or of periods of time within which to cure the same, including the right to enter into possession of the Leased Premises, to enable the Leasehold Mortgagee also to do, do as are afforded to Lessee hereunder (and a period of thirty (30) days thereafter, and as are afforded to the leasehold mortgagee under this Section 13.08Article XIII).

Appears in 1 contract

Samples: Lease Agreement (FFP Marketing Co Inc)

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Notice to Leasehold Mortgagee. At any time after the execution and recordation of any Leasehold Mortgage, the Leasehold Mortgagee may notify Lessor agreesin writing that any such mortgage or deed of trust has been given and executed by Lessee, if and so long as shall at the leasehold estate same time furnish Lessor with a copy of Lessee is encumbered by a leasehold mortgage in favor the Leasehold Mortgage, together with the address to which it desires copies of a notices of default to be mailed. Lessor hereby agrees that it will thereafter mail to the Leasehold Mortgagee, at the address so given, duplicate copies of any and all notices of default in writing which Lessor may from time to time give or serve upon (or be required to give such Leasehold Mortgagee at such address or addresses as may be specified by serve upon) Lessee under and pursuant to the Leasehold Mortgagee to Lessor in writing, written notice terms and provisions of any default or of the happening of any contingency referred to in Section 13.01 hereof, this Lease simultaneously with the giving of such notice to Lesseetherewith, and no such notice to Lessee shall be effective or be deemed to have been given to Lessee hereunder unless such notice is also given to the Leasehold Mortgagee; . Until such time as Lessor shall have received written notice of a Leasehold Mortgage and the address to which the Leasehold Mortgagee shall have the rightthereunder desires copies of notices of default to be mailed, within the period limited by any such notice and for an additional period of thirty (30) days thereafter, and to the same extent and with the same effect as though done by Lessee, to take such action or to make such payment as may be necessary or appropriate to cure any such default or contingency so specified, it being the intention of the parties hereto that Lessor shall not exercise its right be under no obligation to terminate this Lease as in Section 13.01 provided without first affording provide copies of notices of default to any a Leasehold Mortgagee the same rights and the same notices with respect to any such default or contingency and the same period or periods of time within which to cure the same, including the right to enter into possession of the Leased Premises, to enable the Leasehold Mortgagee also to do, as are afforded to Lessee hereunder (and a period of thirty (30) days thereafter, and as are afforded to the leasehold mortgagee under this Section 13.08)Mortgagee.

Appears in 1 contract

Samples: Lease Agreement (Nova Biosource Fuels, Inc.)

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