SUBORDINATE LEASES. Each Lease affecting the Property entered into after the Acceptance Date hereof shall be absolutely subordinate to the lien of this Mortgage and shall also contain a provision, satisfactory to Lender, to the effect that in the event of the judicial or non-judicial foreclosure of the Property, at the election of the acquiring foreclosure purchaser, the particular Lease shall not be terminated and the tenant shall attorn to the purchaser.
Appears in 6 contracts
Samples: Defined Terms (Florida East Coast Industries Inc), Mortgage, Security Agreement and Fixture Filing (Florida East Coast Industries Inc), Defined Terms (Florida East Coast Industries Inc)
SUBORDINATE LEASES. Each Lease affecting the Property entered into after the Acceptance Date hereof shall be absolutely subordinate to the lien of this Mortgage and shall also contain a provision, satisfactory to Lender, to the effect that in the event of the judicial or non-judicial foreclosure of the Property, at the election of the acquiring foreclosure purchaser, the particular Lease shall not be terminated and the tenant shall attorn to the purchaser.the
Appears in 4 contracts
Samples: Mortgage, Security Agreement and Fixture Filing (Florida East Coast Industries Inc), Mortgage, Security Agreement and Fixture Filing (Florida East Coast Industries Inc), Florida East Coast Industries Inc
