SUBORDINATION AND ESTOPPEL. A. This Lease shall be automatically subject and subordinate to any and all mortgages, ground leases and other instruments in the nature of a mortgage or ground lease now or at any time hereafter a lien on the Property without requiring any writing by Tenant. Tenant shall, when requested, promptly (but not later than ten (10) days after request) execute and deliver such written instruments as may be requested by Landlord to confirm the subordination of this Lease to mortgages, ground leases or other instruments in the nature thereof. Should Tenant fail to execute, acknowledge and deliver such instruments within ten (10) days after Landlord’s written request, Tenant hereby appoints Landlord and its successors and assigns, as Tenant’s irrevocable attorney-in-fact to execute, acknowledge and deliver any such instrument for and on behalf of Tenant. With respect to mortgages and other instruments in the nature thereof executed after the Term Commencement Date, the foregoing subordination is expressly conditioned upon Tenant reserving the right to continued occupancy of the Premises in accordance with the terms of this Lease for so long as Tenant is not in Default hereunder notwithstanding any mortgage foreclosure or termination of ground lease. Landlord shall request a non-disturbance agreement from Landlord’s current mortgagee and/or ground lessor.
B. Tenant agrees that Tenant will recognize as its landlord under this Lease and shall attorn to any person succeeding to the interest of Landlord upon any foreclosure of any mortgage upon the Property or upon the execution of any deed in lieu of such foreclosure in respect of such mortgage, on the condition that such successor in interest does not disturb any of the rights of the Tenant under this Lease, so long as Tenant is not in Default hereunder.
C. Within ten (10) days after request by Landlord, Tenant will promptly complete and sign an estoppel certificate in form requested by Landlord to confirm the status of this Lease. Failure of Tenant to timely sign and complete the required estoppel shall, at Landlord’s election, be a Default under this Lease and, in all events, Landlord shall then be authorized to sign the estoppel certificate as Tenant’s agent and the information therein shall be binding upon Tenant provided it is signed by Landlord in good faith.
SUBORDINATION AND ESTOPPEL. 21 SECTION XXVI. NOTICES............................................ 23
SUBORDINATION AND ESTOPPEL. This Lease is subject and subordinate in all respects to all mortgages which may now or hereafter be placed on or affect the real property of which the Premises are a part, or Landlord's interest or estate therein, and to each advance made and/or hereafter to be made under any such mortgages, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor. This Section XXV shall be self-operative and no further instrument of subordination shall be required. Notwithstanding the generality of the foregoing provisions of this Section XXV, Tenant agrees that any such mortgagee shall have the right at any time to subordinate any such mortgages or other instruments of security to this Lease on such terms and subject to such conditions as such mortgagee may deem appropriate in its discretion. Tenant further covenants and agrees upon demand by Landlord's mortgagee at any time, before or after the institution of any proceedings for the foreclosure of any such mortgages or other instruments of security, or sale of the Building pursuant to any such mortgages or other instruments of security (which agreement shall survive any such foreclosure sale), to attorn to such mortgagee or such purchaser upon any such sale and to recognize such purchaser as Landlord under this Lease, provided that Tenant's possession shall not be disturbed except under the terms of this Lease, and further agrees to execute any and all documents as such mortgagee may require to confirm such attornment. In the event Tenant fails to deliver and execute such documents within ten (10) days after demand in writing, Tenant does hereby make, constitute and irrevocably appoints Landlord as attorney in fact to execute said documents.
SUBORDINATION AND ESTOPPEL. 15.1. This Lease and all rights of Tenant hereunder are subject and subordinate at all times to all mortgages which may now or hereafter affect the Property and/or the Building of which the Premises form a part, and to all renewals, modifications, consolidations, replacements and extensions thereof. This clause shall be self-operative and no further instrument or subordination shall be required by any mortgagee. In confirmation of such subordination, Tenant shall execute promptly any reasonable instrument that Landlord may reasonably request. Landlord shall obtain from any mortgagee of Landlord whose interests in the Property are superior to the interests of Tenant, a non-disturbance agreement reasonably acceptable to mortgagee and Tenant. Tenant further agrees at the option of the holder of any such mortgage to attorn to the holder of any such mortgage following the foreclosure of such mortgage of the granting of a deed in lieu thereof. Notwithstanding any provision of this Section 15.1 to the contrary, upon notice to Tenant by a Mortgagee, this Lease shall become superior, in whole or in part, to the lien of any mortgage held on the property by said Mortgagee.
SUBORDINATION AND ESTOPPEL. 20.1 At the option of Landlord, this Agreement shall be subordinate at all times to all liens of any kind of any institutional mortgages (meaning a mortgage, a deed of trust or similar collateral security agreement or arrangement held by a bank, savings and loan association, insurance company, pension fund or other institutional investor or financial institution) as security for any credit facility, note, debenture, bond or other debt or obligation (the "Debt") in any amount which may hereafter be placed on the Premises or the Plant Site (the "Institutional Mortgage") and to all renewals, modifications, replacements, consolidations and extensions thereof. Landlord shall use reasonable efforts to require that the holder or holders of the Institutional Mortgage (the "Institutional Mortgagee") agree that:
(i) As long as no default exists beyond applicable notice and cure periods, which entitles Landlord to terminate this Agreement or which cause, without any action of Landlord, the termination of this Lease, or which entitle Landlord to dispossess Tenant, then:
(a) The right of possession of Tenant to the Premises, and Tenant's rights arising out of this Agreement, including, but not limited to, the renewal options,
SUBORDINATION AND ESTOPPEL. 20.1 This Lease and Tenant's Leasehold interest in the Property are and will be subject, subordinate, and inferior to: (i) any lien or encumbrance now or later placed on the Property by Landlord; (ii) all advances made under any such lien or encumbrance; (iii) the interest payable on any such lien or encumbrance; (iv) any and all renewals and extensions of any such lien or encumbrance; (v) any restrictive covenant; and (vi) the rights of any owners' association affecting the Property.
20.2 Tenant agrees to execute and deliver to an address provided by Landlord a written estoppel certificate certifying the basic terms and status of this Lease, and other matters Landlord may reasonably require, within 5 days of request therefore by Landlord or Property Manager.
SUBORDINATION AND ESTOPPEL. 21.1 SNDA. Simultaneously with the execution of this Lease, as to each deed of trust, mortgage or other instrument of security, ground lease, master lease or primary lease (collectively, “Encumbrances”) affecting the Premises as said date, Landlord shall deliver to Tenant an SNDA substantially in the form attached hereto as Exhibit F (or such other form as is reasonably agreed upon by Tenant and Holder) (the “SNDA”) providing generally that the mortgagee, beneficiary or lessor under any such Encumbrance (collectively, a “Holder”) will not disturb Tenant’s possession of the Premises and that Tenant will attorn to such Holder (or purchaser at foreclosure) as Landlord under the terms and conditions of this Lease upon receiving written notice that such party has succeeded to the interest of Landlord under this Lease. Landlord may cause this Lease and the leasehold estate created hereby to be subject, subordinate and inferior to Encumbrances that subsequently cover all or any part of the Premises or any interest of Landlord therein, and to any and all advances made on the security thereof, and to any and all increases, renewals, modifications, extensions and replacements thereof so long as Landlord provides a SNDA to Tenant, in form reasonably acceptable to Tenant, with respect to each subsequent Encumbrance. Additionally, Tenant shall, within fifteen (15) business days following receipt of Landlord’s request, sign, acknowledge and deliver the SNDA reasonably acceptable to Tenant, that Landlord or any Landlord mortgagee request to evidence such subordination.
SUBORDINATION AND ESTOPPEL. 25 22.1 Subordination .............................................25 22.2 Estoppel ..................................................26
SUBORDINATION AND ESTOPPEL. 31 ARTICLE 18..........................................................32 DAMAGE BY FIRE OR OTHER CASUALTY...........................32 ARTICLE 19..........................................................34
SUBORDINATION AND ESTOPPEL. 59 29.3 Lessor's Rights under Master Lease ........................... 59
