Recognition and Attornment. If Xxxxxx succeeds to the interest of Landlord under the Lease, the Lease and all terms therein and the rights of Tenant thereunder shall continue in full force and effect and shall not be altered, terminated, disaffirmed or disturbed. Tenant and Lender shall be bound to each other under all of the terms, covenants, and conditions of the Lease for the balance of the term of the Lease with the same force and effect as if Lender were the landlord under the Lease. In such event, Tenant shall attorn to Lender as its landlord immediately upon Xxxxxx succeeding to the interest of Landlord under the Lease, and providing Tenant with written notice thereof. Such attornment shall be effective and self-operative without the execution of any other instruments on the part of Lender or Tenant. However, Tenant shall be under no obligation to pay any monetary obligation or perform any other duty set forth in the Lease to Lender unless and until Xxxxxx receives written notice from Xxxxxx that Xxxxxx has succeeded to the interest and assumed the future obligations of Landlord under the Lease. Upon receipt by Tenant of such notice from Lender, Tenant shall make all payments due by Tenant under the Lease to Lender or as Lender may in writing direct and Tenant shall thereafter be relieved from any further obligations to remit rental or any other monetary sum to Landlord. The respective rights and obligations of Tenant and Lender upon such attornment, to the extent of the then remaining balance of the Term, shall be and are the same as are then set forth in the Lease between Tenant and Landlord.
Appears in 2 contracts
Samples: Lease Agreement, Full Service Office Lease
Recognition and Attornment. If Xxxxxx succeeds to the interest of Landlord under the Lease, the Lease and all terms therein and the rights of Tenant thereunder shall continue in full force and effect and shall not be altered, terminated, disaffirmed or disturbed. Tenant and Lender shall be bound to each other under all of the terms, covenants, covenants and conditions of the Lease for the balance of the term of thereof (including all renewal terms, the Lease “Term”) with the same force and effect as if Lender were the landlord under the Lease. In such event, Tenant shall attorn to Lender as its landlord immediately upon receipt of written notice from Xxxxxx succeeding that Xxxxxx has succeeded to the interest and assumed the future obligations of Landlord under the Lease, and providing Tenant with written notice thereof. Such attornment shall be effective and self-operative without the execution of any other instruments on the part of Lender or Tenant. However, Tenant shall be under no obligation to pay any monetary obligation or perform any other duty set forth in the Lease to Lender unless and until Xxxxxx receives written notice from Xxxxxx that Xxxxxx has succeeded to the interest and assumed the future obligations of Landlord under the Lease. Upon receipt by Tenant of such notice from Lender, Tenant shall make all payments due by Tenant under the Lease to Lender or as Lender may in writing direct and Tenant shall thereafter be relieved from any further obligations to remit rental or any other monetary sum to Landlord. The respective rights and obligations of Tenant and Lender upon such attornment, to the extent of the then then-remaining balance of the Term, shall be and are the same as are then set forth in the Lease between Tenant and Landlord.
Appears in 1 contract
Recognition and Attornment. If Xxxxxx succeeds Upon Successor Landlord taking title to the interest Property (i) Successor Landlord shall be bound to Tenant under all the terms and conditions of the Lease (except as provided in this Agreement); (ii) Tenant shall recognize and attorn to Successor Landlord as Tenant’s direct landlord under the Lease, Lease as affected by this Agreement; and (iii) the Lease and all terms therein and the rights of Tenant thereunder shall continue in full force and effect as a direct lease, in accordance with its terms (except as provided in this Agreement), between Successor Landlord and shall not be altered, terminated, disaffirmed or disturbedTenant. Tenant hereby acknowledges that pursuant to the Mortgage and Lender shall be bound assignment of rents, leases and profits, Landlord has granted to each other under all of the termsMortgagee an absolute, covenants, and conditions present assignment of the Lease for the balance and Rents which provides that Tenant continue making payments of the term of the Lease with the same force Rents and effect as if Lender were the landlord under the Lease. In such event, Tenant shall attorn to Lender as its landlord immediately upon Xxxxxx succeeding to the interest of Landlord under the Lease, and providing Tenant with written notice thereof. Such attornment shall be effective and self-operative without the execution of any other instruments on the part of Lender or Tenant. However, Tenant shall be under no obligation to pay any monetary obligation or perform any other duty set forth in the Lease to Lender unless and until Xxxxxx receives written notice from Xxxxxx that Xxxxxx has succeeded to the interest and assumed the future obligations of Landlord under the Lease. Upon receipt by Tenant of such notice from Lender, Tenant shall make all payments due amounts owed by Tenant under the Lease to Lender or as Lender may the Landlord and to recognize the rights of Landlord under the Lease until notified otherwise in writing direct and by the Mortgagee. After receipt of such notice from Mortgagee, the Tenant shall thereafter be relieved from make all such payments directly to the Mortgagee or as the Mortgagee may otherwise direct, without any further obligations inquiry on the part of the Tenant. Landlord EXHIBIT B MASTER LAND AND BUILDING LEASE (Pool 3) specifically agrees that Tenant may conclusively rely upon any written notice Tenant receives from Mortgagee notwithstanding any claim by Landlord contesting the validity of any term or condition of such notice, including, but not limited to, any default claimed by Mortgagee, and that Landlord shall not make any claim of any kind whatsoever against Tenant or Tenant’s leasehold interest with respect to remit rental any amounts paid to Mortgagee by Tenant or any other monetary sum acts performed by Tenant pursuant to such written notice and such amounts paid to Mortgagee shall be credited to amounts due under the Lease as if such amounts were paid directly to Landlord. The respective rights and obligations of Tenant and Lender upon such attornment, to the extent of the then remaining balance of the Term, shall be and are the same as are then set forth in the Lease between Tenant and Landlord.
Appears in 1 contract
Samples: Master Land and Building Lease (Getty Realty Corp /Md/)
Recognition and Attornment. If Xxxxxx succeeds to following the interest of Landlord under the Leasenotice required by, and operation of, Section 3 hereof, the applicable Ground Lease and all terms therein and the rights of Tenant thereunder shall be terminated, then:
a. The Lease shall continue in full force and effect as a direct Lease between the applicable Owner and Tenant with respect to the portion of the Demised Premises subject to such Ground Lease. Such Owner shall recognize and agree to honor all of Tenant’s rights under the Lease with respect to the portion of the Demised Premises subject to such Ground Lease (subject to the rights of any leasehold mortgagee), and shall assume all of Landlord’s obligations under the Lease with respect to the portion of the Demised Premises subject to the Ground Lease, provided, however, that such Owner shall not be alteredsubject to any claims, terminatedoffsets or defenses which Tenant might have against any prior landlord under the Lease (including Landlord), disaffirmed nor shall such Owner be liable for any act or disturbed. Tenant and Lender omission of any prior landlord under the Lease (including Landlord), nor shall such Owner be bound by any rent or additional rent which Tenant might have paid for more than thirty (30) days in advance, nor shall such Owner be bound by any security deposit which Tenant might have paid unless the same shall have been transferred by Landlord to each other under all such Owner, nor shall any Owner be bound by any amendment or modification of the terms, covenants, and conditions Lease made without such Owner’s prior written consent (other than any amendment or modification of the Lease for the balance sole purpose of memorializing the exercise of a right or option expressly provided in the Lease), nor shall such Owner have any obligation to perform any of Landlord’s construction covenants under Section 4.1 and Exhibit B of the term Lease, or to make any payment of Tenant Improvement Allowance pursuant to Section 4.3 of the Lease Lease, nor shall any Owner be subject to any claims, offsets or defenses which Tenant might have against any of the other Owners, nor shall any Owner be liable for any act or omission of any of the other Owners with respect to any agreement between Landlord and/or Tenant and the same force and effect as if Lender were the landlord under the Lease. In such event, other Owners;
b. Tenant shall attorn to Lender each Owner as its landlord immediately upon Xxxxxx succeeding landlord, said attornment to the interest of Landlord under the Lease, and providing Tenant with written notice thereof. Such attornment shall be effective and self-operative without the execution of any other instruments on the part of Lender or Tenantfurther instruments. However, Tenant shall be under no obligation to pay rent to any monetary Owner until Tenant receives written notice substantially in the form of Exhibit A attached hereto from such Owner that it has terminated the applicable Ground Lease. Upon receipt of such notice, Tenant shall pay to the Owners, through the property manager (as described in Section 4.c below) the entire rent due under the Lease from time to time, and such property manager shall be responsible to allocate and pay such rent to the Owners in the following percentages: Bent: 44.88%, Xxxxxxx: 46.13%, and Landlord: 8.99%. Such notice shall be provided to Tenant at least thirty (30) days prior to Tenant having any obligation or perform to pay rent to such Owner, provided, however, that from and after the date Tenant shall have received written notice from such Owner that it has succeeded to Landlord’s interest under the Lease, all then accrued rent under the Lease that shall not have been paid to Landlord shall be held by Tenant for the account of such Owner, and paid to such Owner within thirty (30) days after receipt of such notice, it being understood that Tenant shall not be entitled to any other duty set forth period of free rent as a result of such Owner succeeding to Landlord’s interest under the Lease; and
c. So long as Landlord shall not be in default of any of its obligations as lessee under the Ground Lease beyond any applicable notice and cure period, the Owners agree that notwithstanding anything to the contrary in the Lease or this Agreement, Landlord or any assignee of its affiliate interest in the property located at 000 Xxxxx Xxxxxx, or another third party designated by Landlord or such assignee and acceptable to Lender unless all of the Owners (the “Urban Spaces Entity”) shall assume and until Xxxxxx receives written notice from Xxxxxx that Xxxxxx has succeeded to be responsible for the interest duties and assumed the future obligations of Landlord under the Lease as the property manager thereof. In the event of a default by Landlord of any of its obligations as lessee under either Ground Lease beyond any applicable notice and cure period, the Owners and Landlord agree that, notwithstanding anything to the contrary in the Lease. Upon receipt by Tenant of such notice from Lender, Tenant either Ground Lease or this Agreement, Bent and Xxxxxxx shall make all payments due by Tenant have the right, in their sole discretion, to replace the Urban Spaces Entity with another entity acceptable to Bent and Xxxxxxx, which entity shall serve as the property manager under the Lease to Lender or as Lender may in writing direct for and Tenant shall thereafter be relieved from any further obligations to remit rental or any other monetary sum to Landlordon behalf of the Owners. The respective rights and obligations of Tenant and Lender upon such attornmentIn addition, notwithstanding anything to the extent of the then remaining balance of the Termcontrary contained herein, shall be and are the same as are then set forth in the event of a termination of either Ground Lease, Tenant may look to such property manager as the party primarily liable to perform all landlord obligations under the Lease between Tenant and Landlordwithout allocation for the applicable parcel to which such obligation pertains.
Appears in 1 contract
Samples: Lease Agreement (CarGurus, Inc.)
Recognition and Attornment. If Xxxxxx Lender succeeds to the interest of Landlord under the Lease, the Lease and all terms therein therein, and the rights of Tenant thereunder thereunder, the Lease shall continue in full force and effect and effect, shall not be altered, terminated, disaffirmed or disturbed. , and Tenant and Lender shall be bound to each other Lender under all of the terms, covenants, covenants and conditions of the Lease for the balance of the term of the Lease as specified in the Lease (the "Term"), with the same force and effect as if Lender were the landlord under the Lease except that, notwithstanding anything to the contrary herein or in the Lease, the provisions of the Mortgage will govern with respect to the disposition of proceeds of insurance policies or condemnation or eminent domain awards. In such event, Tenant shall attorn to Lender as its landlord immediately upon Xxxxxx succeeding landlord, such attornment to the interest of Landlord under the Lease, and providing Tenant with written notice thereof. Such attornment shall be effective and self-operative without the execution of any other instruments on the part of Lender or Tenant, immediately upon Lender succeeding to the interest of Landlord under the Lease. HoweverProvided, however, Tenant shall be under no obligation to pay any monetary obligation or perform any other duty set forth in the Lease to Lender unless and until Xxxxxx Tenant receives written notice from Xxxxxx Lender that Xxxxxx Lender has succeeded to the interest and assumed the future obligations of Landlord under the Lease. Upon receipt by Tenant of such notice from Lender, Tenant shall make all payments due by Tenant under the Lease to Lender or as Lender may in writing direct and Tenant shall thereafter be relieved from any further obligations to remit rental or any other monetary sum to Landlorddirect. The respective rights and obligations of Tenant and Lender upon such attornment, to the extent of the then remaining balance of the Term, shall be and are the same as are then in existence, as set forth in the Lease between Tenant and LandlordLease.
Appears in 1 contract
Samples: Industrial Building Lease (Nanophase Technologies Corporation)
Recognition and Attornment. If Xxxxxx Lender succeeds to the interest of Landlord under the Lease, the Lease and all terms therein and the rights of Tenant thereunder shall continue in full force and effect and shall not be altered, terminated, disaffirmed or disturbed. Tenant and Lender shall be bound to each other under all of the terms, covenants, and conditions of the Lease for the balance of the term of the Lease with the same force and effect as if Lender were the landlord under the Lease. In such event, Tenant shall attorn to Lender as its landlord immediately upon Xxxxxx Lender succeeding to the interest of Landlord under the Lease, and providing Tenant with written notice thereof. Such attornment shall be effective and self-operative without the execution of any other instruments on the part of Lender or Tenant. However, Tenant shall be under no obligation to pay any monetary obligation or perform any other duty set forth in the Lease to Lender unless and until Xxxxxx Tenant receives written notice from Xxxxxx Lender that Xxxxxx Lender has succeeded to the interest and assumed the future obligations of Landlord under the Lease. Upon receipt by Tenant of such notice from Lender, Tenant shall make all payments due by Tenant under the Lease to Lender or as Lender may in writing direct and Tenant shall thereafter be relieved from any further obligations to remit rental or any other monetary sum to Landlord. The respective rights and obligations of Tenant and Lender upon such attornment, to the extent of the then remaining balance of the Term, shall be and are the same as are then set forth in the Lease between Tenant and Landlord.
Appears in 1 contract
Samples: Full Service Office Lease
Recognition and Attornment. If Xxxxxx succeeds Upon Successor Landlord taking title to the interest Property (i) Successor Landlord shall be bound to Tenant under all the terms and conditions of the Lease (except as provided in this Agreement); (ii) Tenant shall recognize and attorn to Successor Landlord as Tenant’s direct landlord under the Lease, Lease as affected by this Agreement; and (iii) the Lease and all terms therein and the rights of Tenant thereunder shall continue in full force and effect as a direct lease, in accordance with its terms (except as provided in this Agreement), between Successor Landlord and shall not be altered, terminated, disaffirmed or disturbedTenant. Tenant hereby acknowledges that, pursuant to the Mortgage and Lender shall be bound assignment of rents, leases and profits, Landlord has granted to each other under all of the termsMortgagee an absolute, covenants, and conditions present assignment of the Lease for the balance and Rents which provides that Tenant continue making payments of the term of the Lease with the same force Rents and effect as if Lender were the landlord under the Lease. In such event, Tenant shall attorn to Lender as its landlord immediately upon Xxxxxx succeeding to the interest of Landlord under the Lease, and providing Tenant with written notice thereof. Such attornment shall be effective and self-operative without the execution of any other instruments on the part of Lender or Tenant. However, Tenant shall be under no obligation to pay any monetary obligation or perform any other duty set forth in the Lease to Lender unless and until Xxxxxx receives written notice from Xxxxxx that Xxxxxx has succeeded to the interest and assumed the future obligations of Landlord under the Lease. Upon receipt by Tenant of such notice from Lender, Tenant shall make all payments due amounts owed by Tenant under the Lease to Lender or as Lender may Landlord and to recognize the rights of Landlord under the Lease until notified otherwise in writing direct and by Mortgagee. After receipt of such notice from Mortgagee, Tenant shall thereafter be relieved from make all such payments directly to Mortgagee or as Mortgagee may otherwise direct, without any further obligations inquiry on the part of Tenant. Landlord specifically agrees that Tenant may conclusively rely upon any written notice Tenant receives from Mortgagee notwithstanding any claim by Landlord contesting the validity of any term or condition of such notice, including, but not limited to, any default claimed by Mortgagee, and that Landlord EXHIBIT C A&R MASTER LAND AND BUILDING LEASE ACTIVE 230595713 shall not make any claim of any kind whatsoever against Tenant or Tenant’s leasehold interest with respect to remit rental any amounts paid to Mortgagee by Tenant or any other monetary sum acts performed by Tenant, pursuant to such written notice, and such amounts paid to Mortgagee shall be credited to amounts due under the Lease as if such amounts were paid directly to Landlord. The respective rights and obligations of Tenant and Lender upon such attornment, to the extent of the then remaining balance of the Term, shall be and are the same as are then set forth in the Lease between Tenant and Landlord.
Appears in 1 contract
Recognition and Attornment. If Xxxxxx Lender succeeds to the interest of Landlord Lessor in and to the Property or under the Lease, ,the Lease and all terms therein therein,and the rights of Tenant thereunder Lessee thereunder,shall continue in full force and effect and shall not be altered, terminated, disaffirmed ,terminated or disturbed. Tenant , and Lender Lessee shall be bound to each other Lender under all of the terms, covenants, covenants and conditions of the Lease for the balance of the lease term of the Lease thereof with the same force and effect as if Lender were the landlord Lessor under the Lease. In such event, Tenant shall attorn ,Lessee shall.attorn to Lender as its landlord immediately upon Xxxxxx succeeding Lessor,such attornment to the interest of Landlord under the Lease, and providing Tenant with written notice thereof. Such attornment shall be effective and self-operative without the execution of any other instruments on the part of Lender or TenantLessee, immediately upon Lender succeeding to the interest of Lessor under the Lease. However, Tenant Provided,however,Lessee shall be under no obligation to pay any monetary obligation or perform any other duty set forth in the Lease to Lender unless and until Xxxxxx Lessee receives written written. notice from Xxxxxx Lender that Xxxxxx either Lender has succeeded to the interest of the Lessor in and assumed to the future obligations of Landlord Property or under the Lease, or Lender has posted the Property for foreclosure, with such notice being sent to Lessee postage prepaid, certified mail, return receipt requested at Lessee's address as shown in the Lease. Upon receipt by Tenant Lessee of such notice from Lender, Tenant Lessee shall make all payments of monetary obligations due by Tenant Lessee under the Lease to Lender or as Lender may in writing direct and Tenant shall thereafter be relieved from any further obligations to remit rental or any other monetary sum to Landlorddirect. The respective rights and obligations of Tenant Lessee and Lender upon such attornment, to the extent of the then remaining balance of the Termlease term of the Lease, shall be and are the same as are then in existence between Lessee and Lessor as set forth in the Lease between Tenant and LandlordLease. (00:30750.
Appears in 1 contract
Samples: Office Lease Agreement
Recognition and Attornment. If Xxxxxx succeeds Upon Successor Landlord taking title to the interest Property (i) Successor Landlord shall be bound to Tenant under all the terms and conditions of the Lease (except as provided in this Agreement); (ii) Tenant shall recognize and attorn to Successor Landlord as Tenant’s direct landlord under the Lease, Lease as affected by this Agreement; and (iii) the Lease and all terms therein and the rights of Tenant thereunder shall continue in full force and effect as a direct lease, in accordance with its terms (except as provided in this Agreement), between Successor Landlord and shall not be altered, terminated, disaffirmed or disturbedTenant. Tenant hereby acknowledges notice that pursuant to the Mortgage and assignment of rents, leases and profits, Landlord has granted to the Lender shall be bound to each other under all of the termsan absolute, covenants, and conditions present assignment of the Lease for and Rents which provides that Tenant continue making payments of Rents and other amounts owed by Tenant under the balance Lease to or at the direction of the term of Landlord and to recognize the Lease with the same force and effect as if Lender were the landlord under the Lease. In such event, Tenant shall attorn to Lender as its landlord immediately upon Xxxxxx succeeding to the interest rights of Landlord under the Lease, and providing Tenant with written notice thereofLease until notified otherwise in writing by the Lender. Such attornment shall be effective and self-operative without the execution of any other instruments on the part of Lender or Tenant. However, Tenant shall be under no obligation to pay any monetary obligation or perform any other duty set forth in the Lease to Lender unless and until Xxxxxx receives written notice from Xxxxxx that Xxxxxx has succeeded to the interest and assumed the future obligations of Landlord under the Lease. Upon After receipt by Tenant of such notice from Lender, Tenant shall thereafter make all such payments due directly to the Lender or as the Lender may otherwise direct, without any further inquiry on the part of the Tenant. Any such payment actually made to the Lender or as directed by Tenant the Lender and actually received by Lender or the recipient to which Xxxxxx otherwise directed payment be made shall satisfy Tenant’s obligations to make such payments under the Lease Lease. Landlord consents to the foregoing and waives any right, claim or demand which Landlord may have against Tenant by reason of such payments to Lender or as Lender may in writing direct directs. Such payment by Tenant will continue until the first to occur of the following: (a) the Lease expires pursuant to its terms and no further amounts are payable by Tenant shall thereafter thereunder; (b) Lender gives Tenant written notice that the rents and other payments are to be relieved from any further obligations to remit rental or any other monetary sum paid to Landlord. The respective rights and obligations ; or (c) Lender gives Tenant written notice that a Successor Xxxxxxxx has succeeded to the interests of Tenant Landlord and Lender upon such attornmentunder the Lease, to after which time the extent of the then remaining balance of the Term, shall be rent and are the same as are then set forth in all other sums due under the Lease between Tenant and will be paid as directed by such Successor Landlord. Payment of rents to Lender as provided for hereunder shall not be deemed to: (i) cause Lender to succeed to or to assume any obligations or responsibilities of Landlord under the Lease or, (ii) relieve Landlord of any obligations under the Lease.
Appears in 1 contract
Samples: Deed of Office Lease Agreement (Alarm.com Holdings, Inc.)
Recognition and Attornment. If Xxxxxx Lender or any Purchaser succeeds to the interest of Landlord under the Lease, the Lease and all terms therein therein, and the rights of Tenant thereunder thereunder, the Lease shall continue in full force and effect and effect, shall not be altered, terminated, disaffirmed or disturbed. , and Tenant and Lender shall be bound to each other Lender or such Purchaser under all of the terms, covenants, covenants and conditions of the Lease for the balance of the term of the Lease as specified in the Lease (the “Term”), with the same force and effect as if Lender or such Purchaser were the landlord under the Lease except that, notwithstanding anything to the contrary herein or in the Lease, the provisions of the Mortgage will govern with respect to the disposition of proceeds of insurance policies or condemnation or eminent domain awards. In such event, Tenant shall attorn to Lender or such Purchaser as its landlord immediately upon Xxxxxx succeeding landlord, such attornment to the interest of Landlord under the Lease, and providing Tenant with written notice thereof. Such attornment shall be effective and self-operative without the execution of any other instruments on the part of Lender, such Purchaser or Tenant, immediately upon Lender or Tenantsuch Purchaser succeeding to the interest of Landlord under the Lease. HoweverProvided, however, Tenant shall be under no obligation to pay any monetary obligation or perform any other duty set forth in the Lease to Lender unless and or such Purchaser until Xxxxxx Tenant receives written notice from Xxxxxx Lender or such Purchaser that Xxxxxx Lender has succeeded to the interest and assumed the future obligations of Landlord under the Lease. Upon receipt by Tenant of such notice from LenderLender or such Purchaser, Tenant shall make all payments due by Tenant under the Lease to Lender or such Purchaser or as Lender or such Purchaser may in writing direct and Tenant shall thereafter be relieved from any further obligations to remit rental or any other monetary sum to Landlorddirect. The respective rights and obligations of Tenant and Lender or such Purchaser upon such attornment, to the extent of the then remaining balance of the Term, shall be and are the same as are then in existence, as set forth in the Lease between Tenant and LandlordLease.
Appears in 1 contract
Recognition and Attornment. If Xxxxxx MORTGAGEE succeeds to the interest of Landlord LANDLORD in and to the LEASED PREMISES or under the Lease or enters into possession of the LEASED PREMISES, except in accordance with the terms of and LANDLORD’s rights under the Lease, the Lease and all terms therein therein, and the rights and privileges of Tenant thereunder TENANT thereunder, shall continue in full force and effect and shall not be altered, terminated, disaffirmed diminished, or disturbed. Tenant interfered with by MORTGAGEE, and Lender TENANT and MORTGAGEE shall be bound to each other under all of the terms, covenants, covenants and conditions of the Lease for the balance of the Lease term of the Lease thereof (including any applicable renewal term), all with the same force and effect as if Lender MORTGAGEE were the landlord under the Lease. In such event, Tenant TENANT shall attorn to Lender MORTGAGEE as its landlord immediately upon Xxxxxx succeeding landlord, such attornment to the interest of Landlord under the Lease, and providing Tenant with written notice thereof. Such attornment shall be effective and self-operative without the execution of any other instruments on the part of Lender MORTGAGEE or Tenant. HoweverTENANT, Tenant immediately upon MORTGAGEE succeeding to the interest of LANDLORD under the Lease; provided, however, that TENANT shall be under no obligation to pay any monetary obligation rent, additional rent or perform any other duty set forth in the Lease charges to Lender unless and MORTGAGEE until Xxxxxx TENANT receives written notice from Xxxxxx MORTGAGEE that Xxxxxx it has succeeded to the interest and assumed of the future obligations of Landlord LANDLORD under the Lease. Upon LANDLORD hereby authorizes and directs TENANT to deliver such payment to MORTGAGEE upon receipt by Tenant of such notice from Lender, Tenant shall make all payments due by Tenant under the Lease to Lender or as Lender may in writing direct and Tenant shall thereafter be relieved from any further obligations to remit rental or any other monetary sum to Landlordwritten notice. The respective rights and obligations of Tenant TENANT and Lender MORTGAGEE upon such attornment, to the extent of the then remaining balance of the Termterm of the Lease (including any applicable renewal term), shall be and are the same as are then in existence between TENANT and LANDLORD as set forth in the Lease between Tenant and LandlordLease.
Appears in 1 contract