Common use of Postponement and Subordination Clause in Contracts

Postponement and Subordination. The Owner covenants and agrees, at its own expense, to obtain and register such documentation from its mortgagees or encumbrancers as may be deemed necessary by the Town to postpone and subordinate their interest in the subject lands to the interest of the Town 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 own expense, to obtain and register such documentation from its mortgagees or encumbrancers as may my be deemed necessary by the Town Municipality to postpone and subordinate their interest in the subject lands Land to the interest of the Town 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 their interest in the subject landsLand.

Postponement and Subordination. The Owner covenants and agrees, at its own expense, to obtain and register such documentation from its any mortgagees or encumbrancers encumbrances as may be deemed necessary by the Town Municipality to postpone and subordinate their interest in the subject lands Lands to the interest of the Town 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 lands.Lands

Postponement and Subordination. 23.1 The Owner covenants and agrees, at its own expense, to obtain and register such documentation from its mortgagees or encumbrancers as may be deemed necessary by the Town to postpone and subordinate their interest in the subject lands to the interest of the Town 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.