Status Statement Attornment and Subordination Sample Clauses
The Status Statement, Attornment, and Subordination clause establishes the tenant’s obligation to confirm the current status of the lease and outlines how the lease relates to other interests in the property, such as mortgages. In practice, this clause typically requires the tenant to provide a written statement (often called an estoppel certificate) upon request, confirming details like rent paid and the absence of landlord defaults, and to agree that their lease is subordinate to future mortgages or to recognize new property owners as their landlord if the property is sold or foreclosed. This clause is essential for facilitating property financing and transfers, as it reassures lenders and buyers about the lease’s terms and the tenant’s commitments, thereby reducing uncertainty and risk in property transactions.
Status Statement Attornment and Subordination. Status Statement Section 12.02 Subordination and Attornment Section 12.03 Attorney Section 12.04 Financial information Section 12.05 Acknowledgment of Title ARTICLE XIII - DEFAULT
Status Statement Attornment and Subordination. Section 12.01 Status Statement 23 Section 12.02 Subordination 24 Section 12.03 Attorney 24
Status Statement Attornment and Subordination. 8.01 Status Statement Within 10 days after written request by the Landlord, the Tenant shall deliver in a form supplied by the Landlord a statement or estoppel certificate to the Landlord as to the status of this lease, including as to whether this lease is unmodified and in full force and effect (or, if there have been modifications that this lease is in full force and effect as modified and identifying the modification agreements); the amount of Net Rent and Additional Rent then being paid and the dates to which same have been paid; whether or not there is any existing or alleged default by either party with respect to which a notice of default has been served and if there is any such default, specifying the nature and extent thereof; and any other matters pertaining to this lease as to which the Landlord shall request such statement or certificate.
8.02 Subordination On request, the Tenant shall subordinate this lease and its rights under this lease to any and all such Mortgages and leases and to all advances made under such Mortgages, provided that the Tenant is given a non-disturbance agreement from any Mortgagee or any lessor under any leases. The form of such subordination shall be as required by the Landlord or any Mortgagee or the lessee under any such lease.
Status Statement Attornment and Subordination. 9.01 Status Statement Within 10 days after written request by the Landlord, the Tenant shall deliver in a form supplied by the Landlord a statement or estoppel certificate to the Landlord as to the status of this lease, including as to whether this lease is unmodified and in full force and effect (or, if there have been modifications that this lease is in full force and effect as modified and identifying the modification agreements); the amount of Net Rent and Additional Rent then being paid and the dates to which same have been paid; whether or not there is any existing or alleged default by either party with respect to which a notice of default has been served and if there is any such default, specifying the nature and extent thereof; and any other matters pertaining to this lease as to which the Landlord shall request such statement or certificate.
Status Statement Attornment and Subordination