SUBORDINATION AND ESTOPPEL. 18.1 Tenant accepts this Lease subject and subordinate to any mortgage, deed of trust, or other lien presently existing or hereafter placed upon the Leased Premises, and to any renewals and extensions thereof; but Tenant agrees that any such mortgagee shall have the right at any time to subordinate such mortgage, deed of trust or other lien to this Lease on such terms and subject to such conditions as such mortgagee may deem appropriate in its discretion. Landlord is hereby irrevocably vested with full power and authority, if it so elects at any time, to subordinate this Lease to any mortgage, deed of trust, or other lien hereafter placed upon the Leased Premises. Tenant agrees, upon demand to execute such further instruments subordinating this Lease as Landlord may reasonably request, to evidence such subordination. In the event that Tenant should fail to execute any such instrument promptly as reasonably requested, Tenant hereby irrevocably constitutes Landlord its attorney-in-fact to execute such instrument in Tenant’s name, place and stead. Upon the written request of any person or party succeeding to the interest of Landlord under this Lease, Tenant shall automatically become the tenant of and attorn to such successor in interest without any change in any of the terms of this Lease. In the event the Leased Premises is encumbered by any mortgage, deed of trust, or other lien, Tenant shall have the right to request that Landlord use reasonable efforts to obtain a non-disturbance agreement on said xxxx xxxxxx’x standard form.
18.2 Landlord and Tenant shall promptly execute and deliver to each other within twenty (20) days of request, a certificate stating:
A. Whether or not the Lease is in full force.
B. Whether or not the Lease has been modified or amended in any respect, and submit such copies of such modifications or amendments, if any.
C. Whether or not there are any existing defaults under the Lease as far as the party executed the certificate knows and specifying the nature of such defaults, if any.
D. Such other information to the responding party’s knowledge as may be reasonably requested.
SUBORDINATION AND ESTOPPEL. A. This Lease shall be subordinate to any mortgage heretofore or hereafter placed upon the Building and/or the Building Project and any renewal, modification, replacement or extension of such mortgage, and to any and all advances made or to be made thereunder, Further, if requested by Lessor or any existing or prospective mortgagee of the Building and/or Building Project, Lessee agrees to execute a Subordination and Attornment Agreement. Any such mortgage to which this Lease shall be subordinated may contain such other terms, provisions and conditions as such mortgagee deems usual or customary. Lessee agrees to execute and deliver any instruments necessary or reasonable to implement the provisions of this Article, including any reasonable, non material modification to this Lease requested by any existing or prospective mortgagee of the Building and/or the Building Project. Lessee hereby irrevocably appoints Lessor and any successor or assign or Lessor as its attorney-in-fact (which appointment is coupled with an interest and is irrevocable) to execute and deliver any such instrument of subordination for and on behalf of Lessee and its permitted successors and assigns.
B. Lessee shall, from time to time, upon request, execute and deliver to the party requesting the same (i) an “Estoppel Letter”, so-called, in form satisfactory to such party stating, if true, that this Lease is in full force and effect and that no defaults exist hereunder on the part of Lessor and stating the current status of rent paid to Lessor and security deposits held by Lessor, and any other reasonable information relating to the Lease, (ii) a copy of every notice of default delivered by Lessee to Lessor at the same time and in the manner as to Lessor, and/or (iii) and agreement acknowledging an assignment of this Lease and consenting to the payment of rent in accordance with the terms of such assignment.
C. For the purposes hereof, the term “mortgage” shall include real estate mortgages, deeds of trust, security agreements, ground leases, or any other form of indenture affecting the Building or the Building Project; the term “mortgagee” shall mean the holder of any mortgage, security agreement or indenture or any existing or future ground lessor, trustee of a deed, or trust.
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. 70 Section 18.1.
SUBORDINATION AND ESTOPPEL. Landlord represents and warrants to Tenant that the only mortgagee and/or ground lessor holding a superior interest in and to the Building or the Complex, or any portion thereof or interest therein, is Independence Bank (the “Superior Interest Holder”). Tenant’s obligation to perform its rental and other covenants and other obligations under this Lease shall be subject to Tenant’s receipt of a non-disturbance agreement (an “SNDA”) in the form of Exhibit “I” annexed hereto executed in recordable form from the Superior Interest Holder.
SUBORDINATION AND ESTOPPEL. 59 29.3 Lessor's Rights under Master Lease ........................... 59
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. 31 ARTICLE 18..........................................................32 DAMAGE BY FIRE OR OTHER CASUALTY...........................32 ARTICLE 19..........................................................34
SUBORDINATION AND ESTOPPEL. This Agreement shall be subject 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 Courses or any portion thereof is specified as security. Owner agrees to use its commercially reasonable best efforts to obtain from Lender a non-disturbance agreement in Lender’s standard form reasonably acceptable to Antares. Within ten (10) days of any such written request which Owner may make from time to time, Antares shall execute and deliver to Owner a statement in a form reasonably satisfactory to Owner 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 date to which the Base Management Fee and Incentive Management Fee have been paid, the fact that there are no current defaults under this Agreement by Owner or Antares, except as specified in Antares’ statement, and such other matters reasonably requested by Owner.
