Rights of Mortgagees. The lien of all Mortgages affecting any Parcel or Parcels owned by any Restricted Owner shall at all times be subject and subordinate to all of the terms, covenants, conditions and obligations set forth in this Declaration, and to any amendments or modifications hereof. Any Mortgagee with respect to any such Parcel or Parcels, provided that NBC shall be given a Notice containing the name and address of such Mortgagee, shall be entitled to (a) receive simultaneous copies of all Notices delivered to the Owner of such mortgaged Parcel(s) by NBC pursuant to, or in connection with, this Declaration, and (b) cure on behalf of such Owner any failure by such Owner to perform any obligation on the part of such Owner to be performed hereunder, provided that such cure shall be accomplished by such Mortgagee within the time period allowed to the defaulting Owner hereunder.
Appears in 6 contracts
Samples: Lease (MSGE Spinco, Inc.), Lease (MSG Entertainment Spinco, Inc.), Lease (MSG Entertainment Spinco, Inc.)
