Common use of SNDA Clause in Contracts

SNDA. Landlord agrees that it shall deliver, within five (5) days following the full execution and delivery of this Lease, an SNDA (as defined below) from its current mortgagee, substantially in the form attached hereto as Exhibit E, with such commercially reasonable modifications as mutually agreed to by Tenant and such mortgagee. Subject to Tenant’s receipt of such SNDA, this Lease shall be subordinate to any Mortgage from time‑to‑time encumbering the Premises, whether executed and delivered prior to or subsequent to the date of this Lease, unless Landlord’s Mortgagee elects to have this Lease remain prior to such Mortgage. If this Lease is subordinate to any Mortgage and Landlord’s Mortgagee or any other party shall succeed to the interest of Landlord pursuant to the Mortgage (such Mortgagee or other party, a “Successor”), Tenant shall attorn to the Successor and this Lease shall continue in full force and effect between the Successor and Tenant. Not more than fifteen (15) business days after Landlord’s written request, Tenant agrees to execute such instruments of subordination or attornment in confirmation of the foregoing agreement as the Successor reasonably may request. Landlord shall obtain from any future Landlord’s Mortgagee, in a form reasonably acceptable to Tenant and such Landlord’s Mortgagee, an agreement providing that in the event that Landlord’s Mortgagee or any other party shall succeed to the interest of Landlord hereunder pursuant to such Mortgage, subject to such commercially reasonable qualifications as such Mortgagee may impose, so long as no Event of Default exists hereunder, Tenant’s right to possession of the Premises shall not be disturbed and Tenant’s other rights hereunder shall not be adversely affected by any foreclosure of such Mortgage (an “SNDA”). Any Landlord’s Mortgagee may elect, at any time, unilaterally, to make this Lease superior to its mortgage, ground lease, or other interest in the Premises by so notifying Tenant in writing.

Appears in 1 contract

Samples: Lease Agreement (Spring Bank Pharmaceuticals, Inc.)

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SNDA. Landlord It shall be a condition to Purchaser’s obligation to consummate Closing that Seller obtain and deliver to Purchaser an executed Subordination, Nondisturbance and Attornment Agreement (“SNDA”) in favor of Purchaser’s lender from (a) each Tenant which is not a Major Tenant that has a recorded memorandum of lease appearing on the PTR (provided, however, that Purchaser shall use commercially reasonable efforts to cause Purchaser’s lender to waive any requirement for an SNDA with respect to the Bank of America ATM lease as a condition to Closing), and (b) each Major Tenant (each Tenant referenced in (a) and (b), a “Required SNDA Tenant”). Purchaser shall deliver the form of each SNDA (with the applicable Tenant and Tenant Lease information completed) to Seller for submission to the applicable Tenants prior to the expiration of the Property Approval Period; provided that if any Tenant Lease includes a required form of SNDA (such lease, a “Form SNDA Lease”), Purchaser agrees that it shall deliver, within five (5) days following the full execution and delivery such form of this Lease, an SNDA (as defined below) from its current mortgagee, substantially in the form attached hereto as Exhibit E, with may be submitted to such commercially reasonable modifications as mutually agreed to by Tenant and such mortgageewill be accepted for Closing. Subject Further, Seller shall have the right to Tenant’s receipt of such SNDA, this Lease shall be subordinate to any Mortgage from time‑to‑time encumbering the Premises, whether executed and delivered prior to or subsequent deliver an amendment to the date of this Lease, unless Landlord’s Mortgagee elects to have this Tenant Lease remain prior to for any SNDA which confirms that such Mortgage. If this Tenant Lease is subordinate to the lien of Purchaser’s lender and any Mortgage and Landlord’s Mortgagee or such amendment shall be considered an SNDA for all purposes under this Agreement; provided that no such amendment can be delivered for any other party shall succeed Tenant with a Tenant Lease that is a Form SNDA Lease. Notwithstanding anything to the interest contrary contained herein, if requested by Purchaser’s lender and if Purchaser timely provides a completed SNDA for any additional Tenants, Seller shall deliver an SNDA to any such Tenant with a request for its execution and delivery; provided, however, delivery of Landlord pursuant to the Mortgage (such Mortgagee or other party, a “Successor”), Tenant shall attorn to the Successor and this Lease shall continue in full force and effect between the Successor and Tenant. Not more than fifteen (15) business days after Landlord’s written request, Tenant agrees to execute such instruments of subordination or attornment in confirmation of the foregoing agreement as the Successor reasonably may request. Landlord shall obtain from any future Landlord’s Mortgagee, in a form reasonably acceptable to Tenant and such Landlord’s Mortgagee, an agreement providing that in the event that Landlord’s Mortgagee or any other party shall succeed to the interest of Landlord hereunder pursuant to such Mortgage, subject to such commercially reasonable qualifications as such Mortgagee may impose, so long as no Event of Default exists hereunder, Tenant’s right to possession of the Premises SNDA shall not be disturbed and a condition to Purchaser’s obligation to consummate Closing for any Tenant that is not a Required SNDA Tenant’s other rights hereunder shall not be adversely affected by any foreclosure of such Mortgage (an “SNDA”). Any Landlord’s Mortgagee may elect, at any time, unilaterally, to make this Lease superior to its mortgage, ground lease, or other interest in the Premises by so notifying Tenant in writing.

Appears in 1 contract

Samples: Agreement of Sale and Purchase (HGR Liquidating Trust)

SNDA. Landlord Xxxxxxxx agrees that it shall deliver, within five to request a subordination and non-disturbance agreement (5) days following the full execution and delivery of this Lease, an SNDA (as defined below“SNDA”) from its current mortgageeMortgagees in the form attached hereto as Exhibit A (which is consistent with the form of SNDA attached to that certain Loan Agreement dated as of [***], as amended by that certain First Amendment to Loan Agreement and Other Loan Documents dated as of [***] (collectively, as the same may be amended, restated and/or replaced from time to time, the “Loan Agreement”), by and among Landlord, as mortgagor, the current Mortgagees and certain other parties thereto (the “Required Form of SNDA”)) with such changes requested by Xxxxxx, within thirty (30) days after the Execution Date. Landlord agrees to use reasonable efforts, at no cost to Landlord, to obtain the SNDA substantially in the form attached hereto as Exhibit E, A from such Mortgagees. Landlord will not obstruct Xxxxxx’s negotiations with such commercially reasonable modifications as mutually agreed the Mortgagees regarding Xxxxxx’s requested changes to by Tenant and such mortgagee. Subject to Tenant’s receipt of such SNDA. Tenant acknowledges that, this Lease shall be subordinate while Tenant may request changes to the Required Form of SNDA from the current Mortgagees, the current Mortgagees have no contractual or other obligation to deliver any SNDA other than the Required Form of SNDA, and there is no definite time period during which such Mortgagees are required to respond to any Mortgage request for or to deliver a Required Form of SNDA under the Loan Agreement, and therefore, any refusal or failure to deliver or delay in delivering any SNDA to Tenant shall not constitute a default of Landlord under the Lease. For purposes of clarity, using “reasonable efforts” to obtain the Required Form of SNDA from time‑to‑time encumbering the Premises, whether executed and delivered prior Mortgagees shall not require Landlord to assert any default of Mortgagees or subsequent to otherwise take any enforcement actions under the date of this Lease, unless Landlord’s Mortgagee elects to have this Lease remain prior to such Mortgage. If this Lease is subordinate to any Mortgage and Landlord’s Mortgagee Loan Agreement or any other party loan documents affecting the Premises. Within [***] days after Xxxxxxxx’s written demand therefor, together with reasonable supporting documentation, Tenant shall succeed to reimburse any fees charged by the interest of Landlord Mortgagees or their legal counsel pursuant to the Mortgage (such Mortgagee or other party, a “Successor”), Tenant shall attorn to the Successor Loan Agreement and this Lease shall continue in full force and effect between the Successor and Tenant. Not more than fifteen (15) business days after Landlord’s written request, Tenant agrees to execute such instruments of subordination or attornment in confirmation of the foregoing agreement as the Successor reasonably may request. Landlord shall obtain from any future Landlord’s Mortgagee, in a form reasonably acceptable to Tenant and such Landlord’s Mortgagee, an agreement providing that in the event that Landlord’s Mortgagee or any other third party shall succeed out-of-pocket costs incurred by Landlord in connection with the request for, drafting or negotiation of and/or delivery of any SNDA requested by Tenant under this Amendment, regardless of whether the current Mortgagees agree to the interest of Landlord hereunder pursuant to or actually execute and deliver such Mortgage, subject to such commercially reasonable qualifications as such Mortgagee may impose, so long as no Event of Default exists hereunder, Tenant’s right to possession of the Premises shall not be disturbed and Tenant’s other rights hereunder shall not be adversely affected by any foreclosure of such Mortgage (an “SNDA”). Any Landlord’s Mortgagee may elect, at any time, unilaterally, to make this Lease superior to its mortgage, ground lease, or other interest in the Premises by so notifying Tenant in writing.

Appears in 1 contract

Samples: Lease (Macrogenics Inc)

SNDA. Landlord agrees that it shall deliver, within five (5) days following Subject to the full execution and delivery later provisions of this Section 15, the Lease, an SNDA (as defined below) from its current mortgageeamended by this Amendment, substantially in the form attached hereto as Exhibit E, with such commercially reasonable modifications as mutually agreed to by Tenant and such mortgagee. Subject to Tenant’s receipt of such SNDA, this Lease shall be subject and subordinate to any Mortgage from time‑to‑time encumbering mortgage(s), deed(s) of trust, ground lease(s) or other lien(s) now or subsequently arising upon the Premises, whether executed the Building or the Project, and delivered prior to or subsequent renewals, modifications, refinancings and extensions thereof (collectively referred to the date of this Lease, unless Landlord’s Mortgagee elects to have this Lease remain prior to such Mortgage. If this Lease is subordinate to any Mortgage and Landlord’s Mortgagee or any other party shall succeed to the interest of Landlord pursuant to the Mortgage (such Mortgagee or other party, as a “SuccessorMortgage”). The party having the benefit of a Mortgage shall be referred to as a “Mortgagee”. This Section 15 shall be self-operative; provided, Tenant shall attorn to the Successor and this Lease shall continue in full force and effect between the Successor and Tenant. Not more than fifteen however, that (15a) business days after Landlord’s written request, Tenant agrees to execute such instruments of subordination or attornment in confirmation of the foregoing agreement as the Successor reasonably may request. Landlord shall obtain from any future Landlord’s Mortgagee, in a form reasonably acceptable to Tenant and such Landlord’s Mortgagee, an agreement providing that in the event that Landlord’s Mortgagee or any other party shall succeed to the interest of Landlord hereunder pursuant to such Mortgage, subject to such commercially reasonable qualifications as such Mortgagee may impose, so long as no Event of Default exists hereunderunder this Lease and Tenant attorns to the successor-in-interest, Tenant’s right possession pursuant to possession of the Premises this Lease shall not be disturbed and this Lease shall not terminate in the event of termination or foreclosure of any such Mortgage, and (b) Tenant’s other rights subordination obligations hereunder shall not be adversely affected by any foreclosure of such Mortgage conditioned upon Tenant’s receipt (and upon request from a Mortgagee, Tenant shall execute) a commercially reasonable subordination, non-disturbance and attornment agreement (an “SNDA”)) covering Tenant and the Mortgagee. Any In lieu of having the Mortgage be superior to this Lease, a Mortgagee shall have the right at any time to subordinate its Mortgage to this Lease. If requested by a successor-in-interest to all or a part of Landlord’s Mortgagee may elect, at any time, unilaterally, to make this Lease superior to its mortgage, ground lease, or other interest in the Premises by Lease, Tenant shall, without charge, attorn to the successor-in-interest. Landlord shall use commercially reasonable efforts to cause its current Mortgagee to execute and deliver to Tenant a subordination, attornment and non-disturbance agreement in a form that is reasonably acceptable to Tenant on or before that date which is thirty (30) days following the mutual execution of this Amendment, but Landlord’s failure to do so notifying shall not affect the validity of this Amendment. Tenant in writingacknowledges and agrees that the Subordination, Non-Disturbance and Attornment Agreement attached to this Amendment as Exhibit D is a form of SNDA that is commercially reasonable and acceptable to Tenant, but that the actual SNDA may be on a different form and with a different Mortgagee.

Appears in 1 contract

Samples: Office Lease (Impac Mortgage Holdings Inc)

SNDA. Landlord agrees represents and warrants to Tenant that it shall deliverthe Mortgage (defined below) in favor of Union Labor Life Insurance Company dated July 5, within five 2013 and recorded as Instrument No. 20130705001512 of the Official Records of the County of King, Washington (5) days following the full “Existing Mortgage”), is the only Mortgage encumbering the Premises, and Landlord is not in default under such Existing Mortgage or any loan document related thereto, and there is no event or condition that, with the giving of notice or the passage of time, or both, would constitute a default by Landlord thereunder. Concurrently with Landlord’s execution and delivery of this Lease, an SNDA (as defined below) from its current mortgageeLandlord shall deliver to Tenant a subordination, substantially nondisturbance and attornment agreement, executed by Landlord and Landlord’s Mortgagee under the Existing Mortgage, in the form attached hereto as Exhibit EH-1 (“Initial SNDA”). This Lease is and shall at all times be and remain subject and subordinate to the lien of any present or future deed of trust, mortgage or other security instrument (a “Mortgage”) or any ground lease, master lease or primary lease (a “Primary Lease”) (and to any and all advances made thereunder) upon the Project or the Premises, (the mortgagee under any Mortgage or the lessor under any Primary Lease is referred to herein as “Landlord’s Mortgagee”), unless Landlord or Landlord’s Mortgagee requires this Lease to be superior to any such Mortgage or Primary Lease; provided that, with such commercially reasonable modifications as mutually agreed to by Tenant and such mortgagee. Subject to Tenant’s receipt of such SNDA, this Lease shall be subordinate respect to any Mortgage from time‑to‑time encumbering the Premises, whether executed and delivered prior to or subsequent to Primary Lease not in effect as of the date of this Leasehereof, unless Landlord’s Mortgagee elects has executed, acknowledged and delivered to have this Tenant a subordination, non-disturbance and attornment agreement in commercially reasonable form that does not materially alter the rights or increase the obligations of Tenant under the Lease remain prior (including, without limitation, preservation of Tenant’s rights and remedies with respect to such Mortgage. If this Lease is subordinate receipt and/or nonpayment of the Allowance) (“Future SNDA”), which Future SNDA will be in substantially the same form as the Initial SNDA, except that the Future SNDA shall also provide that any Landlord’s Mortgagee or its transferee or successor or assigns acquiring Landlord’s Mortgagee’s interest (a “Landlord’s Mortgagee Successor”) shall be responsible for the any letter of credit or security deposit provided by Tenant, whether or not actually received by and transferred to any Mortgage and Landlord’s Mortgagee or any other party shall succeed to the interest of Landlord pursuant to the Mortgage Landlord’s Mortgagee Successor. Tenant shall, within twenty (such Mortgagee or other party, a “Successor”), Tenant shall attorn to the Successor and this Lease shall continue in full force and effect between the Successor and Tenant. Not more than fifteen (1520) business days after receipt of a written request therefor from Landlord’s written request, Tenant agrees execute and return to execute Landlord, to execute, acknowledge and deliver any such instruments Future SNDA, the effectiveness of subordination or attornment in confirmation of the foregoing agreement as the Successor reasonably may request. which shall be conditioned on its execution by Landlord shall obtain from any and such future Landlord’s Mortgagee, in a form reasonably acceptable to Tenant and such Landlord’s Mortgagee, an agreement providing that in the event that Landlord’s Mortgagee or any other party shall succeed to the interest of Landlord hereunder pursuant to such Mortgage, subject to such commercially reasonable qualifications as such Mortgagee may impose, so long as no Event of Default exists hereunder, Tenant’s right to possession of the Premises shall not be disturbed and Tenant’s other rights hereunder shall not be adversely affected by any foreclosure of such Mortgage (an “SNDA”). Any Landlord’s Mortgagee may elect, at any time, unilaterally, to make this Lease superior to its mortgage, ground lease, or other interest in the Premises by so notifying Tenant in writing.

Appears in 1 contract

Samples: Office Lease (Redfin CORP)

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SNDA. Supplementing Article 7 of the Lease, Landlord agrees warrants and represents that the building where the Demised Premises forms a part (the “Building”) (other than the Apple Bank loan in the sum of approximately $12,000,000.00) has no mortgages affecting the Property, however in the event Landlord refinances the Building then Landlord shall request for Tenant from each mortgagee a non-disturbance and attornment agreement in such mortgagee’s standard form (a “Non-Disturbance Agreement”). If Landlord is unable in good faith to obtain such a Non-Disturbance Agreement by making such a request, Landlord shall have no liability to Tenant, it being intended that Landlord’s sole obligation shall deliverbe to request that the holder of each future mortgage enter into such Non-Disturbance Agreement, provided, however, that in the event Landlord is unable to obtain such a Non-Disturbance Agreement within five sixty (560) days following from Tenant’s request to obtain same, Tenant shall have the full execution option to terminate this Lease on sixty (60) days prior written notice to Landlord,. In no event shall Landlord be required to commence any litigation in order to obtain a Non-Disturbance Agreement, nor shall Landlord be required to take any step which may, in Landlord’s reasonable judgment, have an adverse effect on its relationship with the holder of such Superior Mortgage. Tenant shall execute a non disturbance, subordination and delivery attornment agreement on the standard form of any of Landlord’s mortgagees, provided such form provides non disturbance to Tenant and does not impair Tenant’s rights or increase Tenant’s obligations under this Lease, an SNDA (as defined below) . In the event Tenant refuses to sign the Non-Disturbance Agreement for no reason or any reason whatsoever within 30 days from its current mortgagee, substantially in the form attached hereto as Exhibit E, with such commercially reasonable modifications as mutually agreed to by Tenant and such mortgagee. Subject to Tenant’s receipt of such SNDANon-Disturbance Agreement, then this Lease shall be subordinate pursuant to any Mortgage from time‑to‑time encumbering the Premises, whether executed and delivered prior to or subsequent to the date Article 7 of this Lease, unless Landlord’s Mortgagee elects Landlord shall have no further obligations with respect to have this Lease remain prior to such Mortgage. If this Lease is subordinate to any Mortgage and Landlord’s Mortgagee or any other party shall succeed paragraph as to the interest of Landlord pursuant to the Mortgage (such Mortgagee or other party, a “Successor”), mortgage in question and Tenant shall attorn to not have the Successor and this Lease shall continue in full force and effect between the Successor and Tenant. Not more than fifteen (15) business days after Landlord’s written request, Tenant agrees to execute such instruments of subordination or attornment in confirmation of the foregoing agreement as the Successor reasonably may request. Landlord shall obtain from any future Landlord’s Mortgagee, in a form reasonably acceptable to Tenant and such Landlord’s Mortgagee, an agreement providing that in the event that Landlord’s Mortgagee or any other party shall succeed to the interest of Landlord hereunder pursuant to such Mortgage, subject to such commercially reasonable qualifications as such Mortgagee may impose, so long as no Event of Default exists hereunder, Tenant’s right to possession of the Premises shall not be disturbed and Tenant’s other rights hereunder shall not be adversely affected by any foreclosure of such Mortgage (an “SNDA”). Any Landlord’s Mortgagee may elect, at any time, unilaterally, to make cancel this Lease superior to its mortgage, ground lease, or other interest in the Premises by so notifying Tenant in writingLease.

Appears in 1 contract

Samples: Commencement Date Agreement (Inter Parfums Inc)

SNDA. Landlord agrees that it shall deliver, within five (5) days following the full execution and delivery of this Lease, an SNDA (as defined below) from its current mortgagee, substantially in the form attached hereto as Exhibit E, with such commercially reasonable modifications as mutually agreed to by Tenant and such mortgagee. Subject to the terms and conditions contained herein, including, without limitation, Tenant’s receipt of such SNDAnon-disturbance rights under this Section, this Lease shall become subject to and subordinate to all mortgages, and to all advances made thereunder, the interest thereon, and all renewals, modifications, consolidations, replacements and extensions thereof if (a) the mortgagee named in said mortgage shall execute and deliver a customary Subordination, Non-Disturbance and Attornment Agreement recognizing Tenant’s and any Leasehold Mortgagee’s rights hereunder (the “SNDA”), and (b) the mortgagee named in said mortgage shall elect by written notice delivered to Tenant to subject and subordinate the rights and interest of Tenant and any Leasehold Mortgagee under this Lease to the lien of its mortgage. Alternatively, any mortgagee may elect to give the rights and interest of Tenant and any Leasehold Mortgagee under this Lease priority over the lien of its mortgage. In the event of either of such election, and upon notification by such mortgagee to Tenant to that effect, the rights and interests of Tenant under this Lease shall be deemed to be subordinate to any Mortgage from time‑to‑time encumbering or to have priority over, as the Premisescase may be, the lien of said mortgage(s) whether executed and delivered this Lease is dated prior to or subsequent to the date of this Leasesaid mortgage(s). This clause shall be self-operative and no further instrument of subordination shall be required by any mortgagee; provided, unless Landlord’s Mortgagee elects however, that in confirmation of such subordination, non-disturbance, and attornment rights and obligations, the mortgagee and Landlord shall execute and deliver to have this Lease remain prior to such Mortgage. If this Lease is subordinate to any Mortgage Tenant, and Landlord’s Mortgagee or any other party shall succeed to the interest of Landlord pursuant to the Mortgage (such Mortgagee or other party, a “Successor”), Tenant shall attorn countersign and deliver to the Successor and this Lease shall continue in full force and effect between the Successor and Tenant. Not more than Landlord within fifteen (15) business days of delivery to Tenant, an SNDA in the case of any subordination. The subordination of this Lease (self-operative or otherwise) pursuant to this Section is dependent upon Tenant’s receipt of a non-disturbance agreement as set forth in the SNDA. In the event Tenant fails to execute the SNDA within fifteen (15) days after demand in writing, Landlord shall deliver to Tenant a second notice to Tenant of Tenant’s obligation to so execute the SNDA, whereupon, if Tenant fails to execute or alternatively confirm in writing within ten (10) days of such final notice Landlord’s written requestappointment as Tenant’s attorney-in-fact in its name, place and stead to execute the SNDA, Tenant hereby agrees to execute such instruments constitute and appoint Landlord as Tenant’s attorney-in-fact duly authorized to execute, deliver, and record the SNDA for and on behalf of subordination or attornment in confirmation Tenant and the execution of the foregoing SNDA by Landlord, on behalf of Tenant, after said fifteen (15) day and ten (10) day periods shall be conclusive evidence that Landlord has obtained for Tenant’s behalf a non-disturbance agreement as the Successor reasonably may request. Landlord shall obtain from any future Landlord’s Mortgagee, in a form reasonably acceptable to Tenant and such Landlord’s Mortgagee, an agreement providing that set forth in the event that Landlord’s Mortgagee or any other party shall succeed to SNDA in conformance with the interest provisions of Landlord hereunder pursuant to such Mortgage, subject to such commercially reasonable qualifications as such Mortgagee may impose, so long as no Event of Default exists hereunder, Tenant’s right to possession of the Premises shall not be disturbed and Tenant’s other rights hereunder shall not be adversely affected by any foreclosure of such Mortgage (an “SNDA”). Any Landlord’s Mortgagee may elect, at any time, unilaterally, to make this Lease superior to its mortgage, ground lease, or other interest in the Premises by so notifying Tenant in writingSection.

Appears in 1 contract

Samples: Lease Agreement (Blue Sphere Corp.)

SNDA. As of the Commencement Date, Landlord agrees represents and warrants that it there is no Mortgage or Primary Lease encumbering the Building or the Land. In the event Landlord encumbers the Building or the Land with a Mortgage or Primary Lease, Tenant shall deliverhave the right to request from Landlord, within five in writing, that Landlord use commercially reasonable efforts to obtain a subordination and non-disturbance agreement (5“SNDA”) days following from Landlord’s Mortgagee on Landlord’s Mortgagee’s standard form which must provide that (i) so long as Tenant has not committed an Event of Default under the full execution Lease, upon Landlord’s Mortgagee foreclosure of the Premises or termination of the Primary Lease, as applicable, Mortgagee shall not disturb Tenant’s possession or occupancy under Lease and delivery Tenant shall attorn to said Landlord’s Mortgagee, (ii) Landlord’s Mortgagee shall be bound by the Lease and all amendments thereto entered into on or before the date of the SNDA, and (iii) provided Tenant gives Landlord’s Mortgagee written notice of any default by Landlord under the Lease, Landlord’s Mortgagee shall have a reasonable opportunity to perform Landlord’s obligations after the date of such notice. In such case, if Xxxxxxxx’s Mortgagee denies the SNDA request or does not respond, Landlord shall have no liability for such failure and the terms and conditions of this Lease, an SNDA (as defined below) from its current mortgagee, substantially in Section 12 shall continue to apply. Any fee associated therewith shall be at Tenant’s sole cost and expense and Xxxxxxxx’s request shall be conditioned upon Xxxxxx’s remittance of said fee. RULES AND REGULATIONS 13. Tenant shall comply with the form rules and regulations of the Building which are attached hereto as Exhibit EB. Landlord may, with from time to time, change such commercially reasonable modifications as mutually agreed to by Tenant rules and such mortgagee. Subject to Tenant’s receipt of such SNDAregulations for the safety, this Lease shall be subordinate to any Mortgage from time‑to‑time encumbering the Premisescare, whether executed and delivered prior to or subsequent to the date of this Lease, unless Landlord’s Mortgagee elects to have this Lease remain prior to such Mortgage. If this Lease is subordinate to any Mortgage and Landlord’s Mortgagee or any other party shall succeed to the interest of Landlord pursuant to the Mortgage (such Mortgagee or other party, a “Successor”), Tenant shall attorn to the Successor and this Lease shall continue in full force and effect between the Successor and Tenant. Not more than fifteen (15) business days after Landlord’s written request, Tenant agrees to execute such instruments of subordination or attornment in confirmation cleanliness of the foregoing agreement as Building and related facilities, provided that such changes are applicable to all tenants of the Successor reasonably may request. Landlord shall obtain from any future LandlordBuilding, will not unreasonably interfere with Xxxxxx’s Mortgagee, in a form reasonably acceptable to Tenant and such Landlord’s Mortgagee, an agreement providing that in the event that Landlord’s Mortgagee or any other party shall succeed to the interest of Landlord hereunder pursuant to such Mortgage, subject to such commercially reasonable qualifications as such Mortgagee may impose, so long as no Event of Default exists hereunder, Tenant’s right to possession use of the Premises shall not be disturbed and Tenant’s other rights hereunder shall not be adversely affected by any foreclosure of such Mortgage (an “SNDA”). Any Landlord’s Mortgagee may elect, at any time, unilaterally, are provided to make this Lease superior to its mortgage, ground lease, or other interest in the Premises by so notifying Tenant in writing. Tenant shall be responsible for the compliance with such rules and regulations by its employees, agents, and invitees.

Appears in 1 contract

Samples: Lease (PQ Group Holdings Inc.)

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