Common use of Required Landlord Consents Clause in Contracts

Required Landlord Consents. Notwithstanding anything to the contrary contained in this Deed of Trust, to the extent that the assignment, transfer or conveyance of, or granting of a Lien or security interest in, any part of the Mortgaged Property by Grantor to Beneficiary under this Deed of Trust is prohibited by the terms of the instrument, contract or agreement evidencing or creating the Mortgaged Property, or would result in a breach or default by Grantor thereunder, or the termination thereunder, in each case due to the granting of a lien or security interest therein, the Mortgaged Property shall not include, and shall exclude, such instrument, contract or agreement, including, but not limited to, the granting of a mortgage or deed of trust lien against a leasehold interest held by Grantor when the lease, by its terms, requires the consent of the lessor to an effective assignment of the lessee’s leasehold estate.

Required Landlord Consents. Notwithstanding anything to the contrary contained in this Deed of Trust, to the extent that the assignment, transfer or conveyance of, or granting of a Lien or security interest in, any part of the Mortgaged Property by Grantor to Beneficiary under this Deed of Trust is prohibited by the terms of the instrument, contract or agreement evidencing or creating the Mortgaged Property, or would result in a breach or default by Grantor thereunder, or the termination thereunder, in each case due to the granting of a lien or security interest therein, the Mortgaged Property shall not include, and shall exclude, such instrument, contract or agreement, including, but not limited to, the granting of a mortgage or deed of trust lien against a leasehold interest held by Grantor when the lease, by its terms, requires the consent of the lessor to an effective assignment of the lessee’s leasehold estate.