Common use of Notice to Mortgagee and Ground Lessor Clause in Contracts

Notice to Mortgagee and Ground Lessor. After receiving notice from any person, firm or other entity that it holds a mortgage which includes the Premises, the Building or the Office Section as part of the mortgaged premises, or that it is the ground lessor under a ground lease (which term shall include the Underlying Lease and the Sublease (as such terms are defined in Section 32U of this Lease)) with Landlord, as ground lessee, which includes the Premises, the Building or the Office Section as part of the demised premises, no notice of default from Tenant to Landlord shall be effective unless and until a copy of the same is given to such holder or ground lessor, and the timely curing of any of Landlord’s defaults by such holder or ground lessor shall be treated as performance by Landlord. Such holder or ground lessor shall be given such reasonable time as may be necessary to effect such cure or to foreclose the mortgage or terminate the ground lease, as the case may be. For the purposes of ARTICLE 21, this ARTICLE 29, ARTICLE 30 and ARTICLE 33, the term “mortgage” includes a mortgage on a leasehold interest of Landlord (but not one on Tenant’s leasehold interest).

Notice to Mortgagee and Ground Lessor. After receiving notice from any person, firm or other entity that it holds a mortgage which includes the Premises, the Building or the Office Section Premises as part of the mortgaged premises, or that it is the ground lessor under a ground lease (which term shall include the Underlying Lease and the Sublease (as such terms are defined in Section 32U of this Lease)) with Landlord, Landlord as ground lessee, which includes the Premises, the Building or the Office Section Premises as a part of the demised premises, no notice of default from Tenant to Landlord with respect to any default or claimed default of Landlord hereunder shall be effective unless and until a copy of the same is given to such holder or ground lessorlessor at the address as specified in said notice (as it may from time to time be changed), and the timely curing of any of Landlord’s defaults by such holder or ground lessor within no more than thirty (30) days from the date of said notice shall be treated as performance by Landlord. Such If such default by Landlord by its nature cannot be cured within thirty (30) days, such holder or ground lessor shall be given such reasonable additional time as may be necessary is reasonably necessary, provided such holder or ground lessor has commenced diligently to effect correct such cure or default and thereafter diligently pursues such correction to foreclose the mortgage or terminate the ground leasecompletion, as the case may be. For the purposes of ARTICLE this Article 21, this ARTICLE 29, ARTICLE 30 and ARTICLE 33, the term “mortgage” includes a mortgage on a leasehold interest of Landlord (( but not one on Tenant’s leasehold interest).