Common use of RIGHT TO MORTGAGE Clause in Contracts

RIGHT TO MORTGAGE. Landlord reserves the absolute right to subject and subordinate this Lease, at all times, to the lien of any mortgage or mortgages now or hereafter placed upon the Demised Premises. Although the foregoing subordination is self-operative, in the event Landlord exercises its right hereunder, Tenant shall execute and deliver, or join in the execution and delivery of an agreement which shall provide, among other things, (a) that this Lease is subordinate to the lien of any mortgage or mortgages upon the Demised Premises and (b) that the Tenant shall attorn to any foreclosing mortgagee or purchaser at the foreclosure sale. Tenant hereby irrevocably appoints Landlord the attorney-in-fact of Tenant for purposes of executing and delivering in the name of Tenant such an agreement. Landlord agrees to request and use reasonable efforts to obtain from the holder of any superior mortgage or superior lease, as the case may be, executed after the date hereof a subordination, non-disturbance and attornment agreement from the mortgagee under such superior mortgage or the lessor under such superior lease, as the case may be, wherein such mortgagee or lessor, as the case may be, agrees to recognize the interest of Tenant under this Lease in the event of foreclosure or in the event of a termination of the superior lease, as the case may be, provided Tenant is not then in default under this Lease. Landlord shall have no liability to Tenant if such non-disturbance agreement is not executed or delivered or, if executed and delivered, the parties thereto (other than Landlord) do not abide by the respective terms thereof.

RIGHT TO MORTGAGE. Subject to the terms of this Section , Landlord reserves the absolute right to subject and subordinate this Lease, Lease at all times, times to the lien of any mortgage or mortgages now or hereafter placed upon the Demised Premises. Although the foregoing subordination is self-operative, Landlord’s interest in the event Landlord exercises its right hereunder, Premises or the Building. Tenant shall covenants and agrees to execute and deliver, deliver upon demand such further instrument or join in the execution and delivery of an agreement which shall provide, among other things, (a) that instruments subordinating this Lease is subordinate to the lien of any such mortgage or mortgages upon as shall be desired by the Demised Premises Landlord and (b) that the Tenant shall attorn to any foreclosing mortgagee mortgagees or purchaser at the foreclosure sale. Tenant proposed mortgagees and hereby irrevocably appoints the Landlord the attorney-in-fact of the Tenant to execute and deliver any such instrument or instruments for purposes of executing and delivering in the name of Tenant such an agreement. Landlord agrees to request and use reasonable efforts to obtain from the Tenant, provided, however, that the holder of such mortgage shall covenant and agree with Tenant that, in the event of the foreclosure of such mortgage, for so long as Tenant is not in default under this Lease, the holder of such mortgage and any superior mortgage purchaser at the foreclosure sales shall recognize and not disturb or superior leaseinterfere with the rights and interests of Tenant hereunder. Tenant shall, as in such event, attorn to such holder and purchaser. The Tenant subordination and attornment and the case may be, executed after the date hereof rights of non- disturbance shall be memorialized by a subordination, non-disturbance and attornment agreement from the mortgagee under in a commercially-reasonable form, acceptable to Tenant, Landord (if requiring Landlord’s signature) and such superior mortgage or the lessor under such superior lease, as the case may be, wherein mortgagee. Tenant covenants to negotiate diligently in good faith with Landord (if requiring Landlord’s signature) and such mortgagee or lessorto agree upon the form of subordination, as the case may be, agrees to recognize the interest of Tenant under this Lease in the event of foreclosure or in the event of a termination of the superior lease, as the case may be, provided Tenant is not then in default under this Lease. Landlord shall have no liability to Tenant if such non-disturbance agreement is not executed or delivered or, if executed and delivered, the parties thereto (other than Landlord) do not abide by the respective terms thereofattornment agreement.

RIGHT TO MORTGAGE. Subject to the terms of this Section , Landlord reserves the absolute right to subject and subordinate this Lease, Lease at all times, times to the lien of any mortgage or mortgages now or hereafter placed upon the Demised Premises. Although the foregoing subordination is self-operative, Landlord’s interest in the event Landlord exercises its right hereunder, Premises or the Building. Tenant shall covenants and agrees to execute and deliver, deliver upon demand such further instrument or join in the execution and delivery of an agreement which shall provide, among other things, (a) that instruments subordinating this Lease is subordinate to the lien of any such mortgage or mortgages upon as shall be desired by the Demised Premises Landlord and (b) any mortgagees or proposed mortgagees and hereby irrevocably appoints the Landlord the attorney- in-fact of the Tenant to execute and deliver any such instrument or instruments for and in the name of the Tenant, provided, however, that the holder of such mortgage shall covenant and agree with Tenant shall attorn to that, in the event of the foreclosure of such mortgage, for so long as Tenant is not in default under this Lease, the holder of such mortgage and any foreclosing mortgagee or purchaser at the foreclosure salesales shall recognize and not disturb or interfere with the rights and interests of Tenant hereunder. Tenant hereby irrevocably appoints Landlord shall, in such event, attorn to such holder and purchaser. The Tenant subordination and attornment and the attorney-in-fact rights of Tenant for purposes of executing and delivering in the name of Tenant such an agreement. Landlord agrees to request and use reasonable efforts to obtain from the holder of any superior mortgage or superior lease, as the case may be, executed after the date hereof non- disturbance shall be memorialized by a subordination, non-disturbance and attornment agreement from the mortgagee under in a commercially-reasonable form, acceptable to Tenant, Landord (if requiring Landlord’s signature) and such superior mortgage or the lessor under such superior lease, as the case may be, wherein mortgagee. Tenant covenants to negotiate diligently in good faith with Landord (if requiring Landlord’s signature) and such mortgagee or lessorto agree upon the form of subordination, as the case may be, agrees to recognize the interest of Tenant under this Lease in the event of foreclosure or in the event of a termination of the superior lease, as the case may be, provided Tenant is not then in default under this Lease. Landlord shall have no liability to Tenant if such non-disturbance agreement is not executed or delivered or, if executed and delivered, the parties thereto (other than Landlord) do not abide by the respective terms thereofattornment agreement.