Common use of Operating Lease Clause in Contracts

Operating Lease. Borrower represents, covenants and warrants that it is the express intent of Mortgage Borrower and Operating Company that the Operating Lease constitute a lease under applicable real property laws and laws governing bankruptcy, insolvency and creditors’ rights generally, and that the sole interest of Operating Company in the Property is as tenant under the Operating Lease. In the event that it shall be determined that the Operating Lease is not a lease under applicable real property laws or under laws governing bankruptcy, insolvency and creditors’ rights generally, and that the interest of Operating Company in the Property is other than that of tenant under the Operating Lease, Borrower hereby covenants and agrees that it shall cause Operating Company’s interest in the Property, however characterized, to continue to be subject and subordinate to the lien of the Mortgage, or Mortgage Borrower’s fee interest in the Property, on all the same terms and conditions as contained in the Operating Lease and the Mortgage.

Operating Lease. Borrower represents, covenants and warrants that it is the express intent of Mortgage Borrower and Operating Company Lessee that the Operating Lease constitute a lease under applicable real property laws and laws governing bankruptcy, insolvency and creditors’ rights generally, and that the sole interest of Operating Company Lessee in the Property is as tenant under the Operating Lease. In the event that it shall be determined that the Operating Lease is not a lease under applicable real property laws or under laws governing bankruptcy, insolvency and creditors’ rights generally, and that the interest of Operating Company Lessee in the Property is other than that of tenant under the an Operating Lease, Borrower hereby covenants and agrees that it shall cause Operating CompanyLessee’s interest in the Property, however characterized, to continue to be subject and subordinate to the lien of the Mortgage, or Mortgage Borrower’s fee interest in the Property, on all the same terms and conditions as contained in the Operating Lease and the Mortgage.

Operating Lease. Borrower represents, covenants and warrants that it is the express intent of Mortgage Borrower and Operating Company Lessee that the Operating Lease constitute a lease under applicable real property laws and laws governing bankruptcy, insolvency and creditors’ rights generally, and that the sole interest of Operating Company Lessee in the Property is as tenant under the Operating Lease. In the event that it shall be determined that the Operating Lease is not a lease under applicable real property laws or under laws governing bankruptcy, insolvency and creditors’ rights generally, and that the interest of Operating Company Lessee in the Property is other than that of tenant under the an Operating Lease, Borrower hereby covenants and agrees that it shall cause Operating CompanyLessee’s interest in the Property, however characterized, to continue to be subject and subordinate to the lien of the Mortgage, or Mortgage Borrower’s fee interest in the Property, on all the same terms and conditions as contained in the Operating Lease and the Mortgage.

Operating Lease. Borrower represents, covenants and warrants that it is the express intent of Mortgage Borrower and Operating Company that the Operating Lease constitute a lease under applicable real property laws and laws governing bankruptcy, insolvency and creditors’ rights generally, and that the sole interest of Operating Company in the Property is as tenant under the Operating Lease. In the event that it shall be determined that the Operating Lease is not a lease under applicable real property laws or under laws governing bankruptcy, insolvency and creditors’ rights generally, and that the interest of Operating Company in the Property is other than that of tenant under the Operating Lease, Borrower hereby covenants and agrees that it shall cause Operating Company’s interest in the Property, however characterized, to continue to be subject and subordinate to the lien of the Mortgage, or Mortgage Borrower’s fee interest in the Property, on all the same terms and conditions as contained in the Operating Lease and the Mortgage.

Operating Lease. Borrower represents, covenants and warrants that it is the express intent of Mortgage Borrower and Operating Company Lessee that the Operating Lease constitute a lease under applicable real property laws and laws governing bankruptcy, insolvency and creditors’ rights generally, and that the sole interest of Operating Company Lessee in the Property is as tenant under the Operating Lease. In the event that it shall be determined that the Operating Lease is not a lease under applicable real property laws or under laws governing bankruptcy, insolvency and creditors’ rights generally, and that the interest of Operating Company Lessee thereunder in the Property is other than that of tenant under the Operating Leasean operating lease, Borrower hereby covenants and agrees that it shall cause Operating CompanyLessee’s interest in the Property, however characterized, to continue to be subject and subordinate to the lien of the Mortgage, or Mortgage and subordinate to Borrower’s fee estate interest in the Property, on all the same terms and conditions as contained contained, respectively, in the Operating Lease Mortgage and the MortgageOperating Lease.