Common use of Rights of Mortgagee and Subordination - Clause in Contracts

Rights of Mortgagee and Subordination -. 11.7.1 This Lease is subject and is hereby subordinated to all present and future mortgages, deeds of trust, and other encumbrances affecting the premises or the property of which said premises are a part; provided, however, that an agreement or instrument affecting such subordination shall be executed by the mortgagee or other Lender, be recorded with such mortgage or other security agreement, and a copy delivered to the TENANT and contain provisions, to the effect that (i) so long as TENANT observes the terms and provisions of this Lease and notwithstanding the Lease may be foreclosed, TENANT will not be effected or disturbed by the mortgagee in the exercise of any of its rights under the mortgage or other security agreement, or the bond, note or debt secured thereby; (ii) in the event the mortgagee comes into possession or ownership of the premises by foreclosing or otherwise, TENANT'S use, occupancy and quiet enjoyment of the premises shall not be disturbed by any such proceedings; (iii) in the event the premises are sold or otherwise disposed of pursuant to any right or power contained in the mortgage or other security agreement, or the bond or note secured thereby, or as a result of proceedings thereon, the purchaser shall take title subject to this Agreement of Non Disturbance, and all of the rights of the TENANT hereunder; (iv) in the event the buildings and improvements upon the premises are damaged by fire and other casualty, for which loss the proceeds payable under any insurance policy or policies are payable to the mortgagee, such insurance funds, when paid, shall be made available for the purpose of repair and restoration as provided in this Lease; and (v) the agreement shall be binding upon the LANDLORD, mortgagee and their respective heirs, executors, administrators, successors and assigns. The TENANT agrees to execute, at no expense to the LANDLORD, any instrument which may be deemed necessary or desirable by the LANDLORD to further effect the subordination of this Lease to any such mortgage, deed of trust or encumbrance.

Rights of Mortgagee and Subordination -. 11.7.1 This Lease is subject and is hereby subordinated to all present and future mortgages, deeds of trust, and other encumbrances affecting the premises Premises or the property of which said premises Premises are a part; provided, however, that an agreement or instrument affecting such subordination shall be executed by the mortgagee or other Lender, be recorded with such mortgage or other security agreement, and a copy delivered to the TENANT and contain provisions, to the effect that (i) so long as TENANT observes the terms and provisions provision of this the Lease and notwithstanding the Lease may be foreclosed, TENANT will not be effected or disturbed by the mortgagee in the exercise of any of its rights under the mortgage or other security agreement, or the bond, note or debt secured thereby; (ii) in the event the mortgagee comes into possession or ownership of the premises Premises by foreclosing or otherwise, TENANT'S TENANTS use, occupancy and quiet enjoyment of the premises Premises shall not be disturbed by any such proceedings; (iii) in the event the premises Premises are sold or otherwise disposed of pursuant to any right or power contained in the mortgage or other security agreement, or the bond or note secured thereby, or as a result of proceedings thereon, the purchaser shall take title subject to this Agreement of Non Disturbance, and all of the rights of the TENANT hereunder; , (iv) in the event the buildings and improvements upon the premises Premises are damaged by fire and other casualty, for which loss the proceeds payable under any insurance policy or policies are payable to the mortgagee, such insurance funds, when paid, shall be made available for the purpose of repair and restoration as provided in this Lease; and (v) the agreement shall be binding upon the LANDLORD, mortgagee and their respective heirs, executors, administrators, successors and assigns. The TENANT agrees to execute, at no expense to the LANDLORD, any instrument which may be deemed necessary or desirable by the LANDLORD to further effect the subordination of this Lease lease to any such mortgage, deed of trust or encumbrance.

Rights of Mortgagee and Subordination -. 11.7.1 This Lease is subject and is hereby subordinated to all present and future mortgages, deeds of trust, and other encumbrances affecting the premises Premises or the property of which said premises Premises are a part; provided, however, that an agreement or instrument affecting such subordination shall be executed by the mortgagee or other Lender, be recorded with such mortgage or other security agreement, and a copy delivered to the TENANT and contain provisions, to the effect that (i) so long as TENANT observes the terms and provisions provision of this the Lease and notwithstanding the Lease may be foreclosed, TENANT will not be effected or disturbed by the mortgagee in the exercise of any of its rights under the mortgage or other security agreement, or the bond, note or debt secured thereby; (ii) in the event the mortgagee comes into possession or ownership of the premises Premises by foreclosing or otherwise, TENANT'S TENANTS use, occupancy and quiet enjoyment of the premises Premises shall not be disturbed by any such proceedings; (iii) in the event the premises Premises are sold or otherwise disposed of pursuant to any right or power contained in the mortgage or other security agreement, or the bond or note secured thereby, or as a result of proceedings thereon, the purchaser shall take title subject to this Agreement of Non Disturbance, and all of the rights of the TENANT hereunder; (iv) in the event the buildings and improvements upon the premises Premises are damaged by fire and other casualty, for which loss the proceeds payable under any insurance policy or policies are payable to the mortgagee, such insurance funds, when paid, shall be made available for the purpose of repair and restoration as provided in this Lease; and (v) the agreement shall be binding upon the LANDLORD, mortgagee and their respective heirs, executors, administrators, successors and assigns. The TENANT agrees to execute, at no expense to the LANDLORD, any instrument which may be deemed necessary or desirable by the LANDLORD to further effect the subordination of this Lease lease to any such mortgage, deed of trust or encumbrance.

Rights of Mortgagee and Subordination -. 11.7.1 This Lease is subject and is hereby subordinated to all present and future mortgages, deeds of trust, and other encumbrances affecting the premises Premises or the property of which said premises Premises are a part; provided, however, that an agreement or instrument Instrument affecting such subordination shall be executed by the mortgagee or other Lender, be recorded with such mortgage or other security agreement, and a copy delivered to the TENANT and contain provisions, to the effect that (i1) so long as TENANT observes the terms and provisions provision of this the Lease and notwithstanding the Lease may be foreclosed, TENANT will not be effected or disturbed by the mortgagee in the exercise of any of its rights under the mortgage or other security agreement, or the bond, note or debt secured thereby; (ii) in the event the mortgagee comes into possession or ownership of the premises Premises by foreclosing or otherwise, TENANT'S use, occupancy and quiet enjoyment of the premises Premises shall not be disturbed by any such proceedings; (iii) in the event the premises Premises are sold or otherwise disposed of pursuant to any right or power contained in the mortgage or other security agreement, or the bond or note secured thereby, or as a result of proceedings thereon, the purchaser shall take title subject to this Agreement of Non Disturbance, and all of the rights of the TENANT hereunder; , (iv) in the event the buildings and improvements upon the premises Premises are damaged by fire and other casualty, for which loss the proceeds payable under any insurance policy or policies are payable to the mortgagee, such insurance funds, when paid, shall be made available for the purpose of repair and restoration as provided in this Lease; and (v) the agreement shall be binding upon the LANDLORD, mortgagee and their respective heirs, executors, administrators, successors and assigns. The TENANT agrees to execute, at no expense to the LANDLORD, any instrument which may be deemed necessary or desirable by the LANDLORD to further effect the subordination of this Lease lease to any such mortgage, deed of trust or encumbrance.

Rights of Mortgagee and Subordination -. 11.7.1 This Lease is subject and is hereby subordinated to all present and future mortgages, deeds of trust, and other encumbrances affecting the premises or the property of which said premises are a part; provided, however, that an agreement or instrument affecting such subordination shall be executed by the mortgagee or other Lender, be recorded with such mortgage or other security agreement, and a copy delivered to the TENANT and contain provisions, to the effect that (i) so long as TENANT observes the terms and provisions of this Lease and notwithstanding the Lease may be foreclosed, TENANT will not be effected or disturbed by the mortgagee in the exercise of any of its rights under the mortgage or other security agreement, or the bond, note or debt secured thereby; , (ii) in the event the mortgagee comes into possession or ownership of the premises by foreclosing or otherwise, TENANT'S use, occupancy and quiet enjoyment of the premises shall not be disturbed by any such proceedings; (iii) in the event the premises are sold or otherwise disposed of pursuant to any right or power contained in the mortgage or other security agreement, or the bond or note secured thereby, or as a result of proceedings thereon, the purchaser shall take title subject to this Agreement of Non Disturbance, and all of the rights of the TENANT hereunder; (iv) in the event the buildings and improvements Improvements upon the premises are damaged by fire and other casualty, for which loss the proceeds payable under any insurance policy or policies are payable to the mortgagee, such insurance funds, when paid, shall be made available for the purpose of repair and restoration as provided in this Lease; and (v) the agreement shall be binding upon the LANDLORD, mortgagee and their respective heirs, executors, administrators, successors and assigns. The TENANT agrees to execute, at no expense to the LANDLORD, any instrument which may be deemed necessary or desirable by the LANDLORD to further effect the subordination of this Lease to any such mortgage, deed of trust or encumbrance.. 8/6/98

Rights of Mortgagee and Subordination -. 11.7.1 This Lease is subject and is hereby subordinated to all present and future mortgages, deeds of trust, and other encumbrances affecting the premises Premises or the property of which said premises Premises are a part; provided, however, that an agreement or instrument affecting such subordination shall be executed by the mortgagee or other Lender, be recorded with such mortgage or other security agreement, and a copy delivered to the TENANT and contain provisions, to the effect that (i) so long as TENANT observes the terms and provisions provision of this the Lease and notwithstanding the Lease may be foreclosed, TENANT will not be effected or disturbed by the mortgagee in the exercise of any of its rights under the mortgage or other security agreement, or the bond, note or debt secured thereby; (ii) in the event the mortgagee comes into possession or ownership of the premises Premises by foreclosing or otherwise, TENANT'S use, occupancy and quiet enjoyment of the premises Premises shall not be disturbed by any such proceedings; (iii) in the event the premises Premises are sold or otherwise disposed of pursuant to any right or power contained in the mortgage or other security agreement, or the bond or note secured thereby, or as a result of proceedings thereon, the purchaser shall take title subject to this Agreement of Non Disturbance, and all of the rights of the TENANT hereunder; (iv) in the event the buildings and improvements upon the premises Premises are damaged by fire and other casualty, for which loss the proceeds payable under any insurance policy or policies are payable to the mortgagee, such insurance funds, when paid, shall be made available for the purpose of repair and restoration as provided in this Lease; and (v) the agreement shall be binding upon the LANDLORD, mortgagee and their respective heirs, executors, administrators, successors and assigns. The TENANT agrees to execute, at no expense to the LANDLORD, any instrument which may be deemed necessary or desirable by the LANDLORD to further effect the subordination of this Lease lease to any such mortgage, deed of trust or encumbrance.