SUBORDINATION AND ESTOPPEL Sample Clauses
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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 XXIV shall be self-operative and no further instrument of subordination shall be required. Notwithstanding the generality of the foregoing provisions of this Section XXIV, 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 provisions of this Lease, and further agrees to execute any and all documents as such mortgagee may require to confirm such attornment within a reasonable time. Tenant shall, from time to time, within ten (10) business days after request from Landlord, or from any mortgagee or potential mortgagee of Landlord, or any potential purchaser of the Building, or potential mortgagee of such purchaser, execute, acknowledge and deliver a subordination, non-disturbance and attornment agreement in the form attached hereto as Exhibit E (“SNDA”) and an estoppel certificate (“Estoppel Certificate”) certifying, to the extent true, that this Lease is in full force and effect and unmodified (or, if there have been modifications, that the same is in full force and effect as modified and stating the modifications); that the term has commenced and the full amount of the Rent and Additional Rent then accruing thereunder; the dates to which the Rent and Additional Rent has been paid; that Tenant has accepted possession of the Premises and that any improvements required by the provisions of th...
SUBORDINATION AND ESTOPPEL. 21 SECTION XXVI. NOTICES............................................ 23
SUBORDINATION AND ESTOPPEL. Subject to the terms and conditions of the Prime Lease, this Sublease Agreement shall automatically be subordinated to all mortgages encumbering the Premises, whether recorded before or after the execution of this Sublease Agreement. Subtenant and Sublandlord agree to execute any subordination or estoppel certification which accurately reflects the circumstances surrounding this Sublease Agreement, whether in favor of a mortgagee or purchaser of the Premises, within fifteen (15) days from receipt of same.
SUBORDINATION AND ESTOPPEL. The rights of Tenant under this Lease are subject and subordinate at all times to the lien of any mortgage to which the Premises or the Land, or any part thereof or interest therein, is subject, now or hereafter, and to all advances made or hereafter to be made upon the security thereof, and to all renewals, modifications, consolidations, replacements and extensions thereof. No further instrument of subordination is required provided that, in confirmation of this subordination Tenant shall promptly execute such further instruments as may be requested by Landlord. Tenant irrevocably appoints Landlord as attorney-in-fact for Tenant with full power and authority to execute and deliver in the name of Tenant any such instrument or instruments. Tenant, at the option of any mortgagee, agrees to attorn to such mortgagee in the event of a foreclosure sale or deed in lieu thereof. Tenant agrees within ten (10) days after request of Landlord, to execute and deliver to Landlord or its designee an estoppel certificate in such form as may be reasonably requested by Landlord. Tenant agrees, within ten (10) days after request of Landlord, to deliver to Landlord or its designee the most recent financial statements of Tenant, certified to by Tenant or its certified public accountant as complete and accurate. Landlord will proceed in good faith and exercise its best efforts to secure a non-disturbance agreement from its permanent lender for the benefit of Tenant.
SUBORDINATION AND ESTOPPEL. Upon notice from and at the direction of Lessor, Tenant agrees to execute, acknowledge and deliver any document, instrument or agreement that may now or hereafter be required by any party with respect to the Chicopee Facility or the Leased Premises, to confirm the subordination of this Sublease to the Ground Lease and to confirm for the benefit of third parties the status of this Sublease and Tenant's obligations hereunder in such form as Lessor may reasonably require.
SUBORDINATION AND ESTOPPEL. Subtenant acknowledges and agrees that the lien of this Sublease is, and at all times shall be, expressly subject and subordinate to the Master Lease, and all present or future (i) ground and underlying leases of all or any portion of the Subleased Property, (ii) mortgages or trust deeds permitted under the terms of this Sublease and/or the Master Lease and which affect all or any portion of the Subleased Property, (iii) advances under such mortgages or trust deeds, and (iv) renewals, modifications, replacements and extensions of any such leases, mortgages or trust deeds. Upon the request of Sublandlord, Subtenant shall execute and deliver, within ten (10) days after receipt of the request, such certificates of subordination and estoppel as reasonably may be requested by Sublandlord and/or Lessor, to evidence the subordination set forth above and provide information concerning the status of this Sublease.
SUBORDINATION AND ESTOPPEL. This Agreement shall be subject to and subordinate at all times to the lien of any mortgage (or any such instrument providing a security interest) which may now exist or may hereafter be executed in any amount for which the Golf Course or any portion thereof is specified as security. The Borough agrees to use its reasonably best efforts to obtain from Lender a non-disturbance agreement in Lender’s standard form reasonably acceptable to the Contractor. Within ten (10) days of any such written request which the Borough may make from time to time, the Contractor shall execute and deliver to the Borough a statement in a form reasonably satisfactory to the Borough certifying that this Agreement is unmodified and in full force and effect (or if there have been modifications hereto, that this Agreement is in full force and effect, as modified, and stating the date and nature of such modification), the fact that there are no current defaults under this Agreement by the Borough or the Contractor, except as specified in the Contractor’s statement, and such other matters reasonably requested by the Borough.
SUBORDINATION AND ESTOPPEL. This Lease shall be subordinate to any present or future ground lease or mortgage respecting the Property, subject to any future ground lease or mortgage, providing, that so long as Tenant is not in default under the terms of this Lease, beyond any applicable cure period, Tenant’s rights under this Lease shall not be disturbed and shall remain in full force and effect for the Term, and Tenant shall not be joined in by the holder of any mortgage or deed of trust in any action or proceeding to foreclosure thereunder. Tenant shall, within thirty (30) days of receiving a request from Landlord, execute, acknowledge in recordable form, and deliver to the Landlord or its designee a certificate stating, subject to a specific statement of any applicable exceptions, that the Lease as amended to date is in full force and effect, that to the best of the knowledge of Tenant, without any inquiry or investigation beyond checking ▇▇▇▇▇▇'s files and obtaining information from Tenant's employees and agents familiar with the Leased Premises, the Landlord has committed no uncured defaults and has no offsets or claims.
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.