Common use of Postponement and Subordination Clause in Contracts

Postponement and Subordination. The Owner covenants and agrees, at its entire expense, to obtain and register, from its mortgagees and/or encumbrancers, such documentation as may be deemed necessary by the Corporation to postpone and subordinate the interest of said mortgagees and/or encumbrancers in the subject lands to the interest of the Corporation to the extent that this Agreement shall take effect and have priority as if it had been executed and registered before the execution and registration of the document or documents giving to the mortgagees and/or encumbrancers their interest in the subject lands.

Postponement and Subordination. The Owner covenants and agrees, at its entire own expense, to obtain and register, from its mortgagees and/or encumbrancers, register such documentation from any mortgagees or encumbrances as may be deemed necessary by the Corporation Municipality to postpone and subordinate the their interest of said mortgagees and/or encumbrancers in the subject lands Land to the interest of the Corporation Municipality to the extent that this Agreement shall take effect and have priority as if it had been executed and registered before the execution and registration of the document or documents giving to the mortgagees mortgagee and/or encumbrancers encumbrances their interest in the subject landsLand.

Postponement and Subordination. The Owner covenants and agrees, at its entire own expense, to obtain and register, register such documentation from its mortgagees and/or encumbrancers, such documentation or encumbrancers as may be deemed necessary by the Corporation Municipality to postpone and subordinate the their interest of said mortgagees and/or encumbrancers in the subject lands to the interest of the Corporation Municipality to the extent that this Agreement shall take effect and have priority as if it had been executed and registered before the execution and registration of the document or documents giving to the mortgagees and/or encumbrancers their interest in the subject lands.

Postponement and Subordination. The Owner covenants and agrees, at its entire own expense, to obtain and register, register such documentation from its mortgagees and/or encumbrancers, such documentation or encumbrances as may be deemed necessary by the Corporation Municipality to postpone and subordinate the their interest of said mortgagees and/or encumbrancers in the subject lands Lands to the interest of the Corporation Municipality to the extent that this Agreement shall take effect and ad have priority as if it had been executed and registered before prior to the execution and registration of the document or documents giving to the mortgagees mortgagee and/or encumbrancers their interest in the subject landsLands.