Subordination and Estoppel Certificate. Landlord shall have the right to subordinate this Lease to any mortgage presently existing or hereafter placed upon the Building by so declaring in such mortgage. Within ten (10) days following receipt of a written request from Landlord, Tenant shall execute and deliver to Landlord, without cost, any instrument which Landlord deems necessary or desirable to confirm the subordination of this Lease and an estoppel certificate in such form as Landlord may reasonably request certifying (i) that this Lease is in full force and effect and unmodified or stating the nature of any modification, (ii) the date to which rent has been paid, (iii) that there are not, to Tenant’s knowledge, any uncured defaults or specifying such defaults if any are claimed, and (iv) any other matters or state of facts reasonably required respecting the Lease. Such estoppel may be relied upon by Landlord and by any purchaser or mortgagee of the Building. Notwithstanding the foregoing, if the mortgagee shall take title to the Leased Premises through foreclosure or deed in lieu of foreclosure, Tenant shall be allowed to continue in possession of the Leased Premises as provided for in this Lease so long as Tenant shall not be in default.
Subordination and Estoppel Certificate. Landlord shall have the right to subordinate this Lease to any mortgage presently existing or hereafter placed upon the Building by so declaring in such mortgage, provided the mortgagee executes a non-disturbance, attornment and subordination agreement reasonably acceptable to Tenant. Within ten (10) days following receipt of a written request from Landlord, Tenant shall execute and deliver to Landlord, without cost, any instrument reasonably necessary to confirm the subordination of this Lease and an estoppel certificate in such form as Landlord may reasonably request certifying (i) that, as to Tenant, this Lease is in full force and effect and unmodified or stating the nature of any modification, (ii) the date to which rent has been paid, (iii) that there are not, to Tenant's actual knowledge, any uncured defaults or specifying such defaults if any are claimed, and (iv) any other matters or state of facts reasonably required respecting the Lease, provided that such matters or state of facts are limited to Tenant's actual knowledge. Such estoppel may be relied upon by Landlord and by any purchaser or mortgagee of the Building. Notwithstanding the foregoing, if the mortgagee shall take title to the Leased Premises through foreclosure or deed in lieu of foreclosure, Tenant shall be allowed to continue in possession of the Leased Premises as provided for in this Lease so long as Tenant shall not be in default. Landlord represents that the Building is not encumbered by a mortgage as of the Effective Date. Landlord will use commercially reasonable efforts to obtain a non-disturbance agreement from any future mortgagee of the Building within thirty (30) days after the recording of any future mortgage.
Subordination and Estoppel Certificate. Subject to Tenant’s receipt of an SNDA (as hereinafter defined) as provided below, Landlord shall have the right to subordinate this Lease to any mortgage hereafter placed upon the Building. Within ten (10) business days following receipt of a written request from Landlord, Tenant shall execute and deliver to Landlord, without cost, a subordination nondisturbance and attornment agreement in the form of Exhibit O hereto (an “SNDA”), which SNDA shall be effective only if the same is executed by Landlord and the holder of the mortgage, deed of trust, or other instrument of security to which this Lease is to become subordinated by such SNDA. Additionally, from time to time, upon written request of either Landlord or Tenant, the party receiving such request shall execute, acknowledge and deliver to the requesting party or its designee, within ten (10) business days following receipt of a written request, a commercially reasonable form of estoppel certificate certifying (i) that this Lease is in full force and effect and unmodified or stating the nature of any modification, (ii) the date to which rent has been paid, (iii) that there are not, to the certifying party’s knowledge, any uncured defaults or specifying such defaults if any are claimed, and (iv) any other matters or state of facts reasonably required respecting the Lease. Any such estoppel certificate delivered pursuant to this Section 12.02 may be relied upon by a prospective purchaser of Landlord’s interest or a mortgagee of Landlord’s interest or assignee of any mortgage upon Landlord’s interest in the Leased Premises, or by any potential assignee, subtenant or other transferee of Tenant’s interest in the Leased Premises.
Subordination and Estoppel Certificate. Within ten (10) days after Lessee’s receipt of written request from Lessor, Lessee shall (i) subordinate its interest in this Lease to any mortgage or deed of trust encumbering the Premises; provided, however, the mortgagee or beneficiary of the deed of trust recognizes Lessee’s leasehold interest in the Premises, only to the extent of the length of the Term, and (ii) provide Lessor or any prospective buyer or lender a certificate certifying to the best of Lessee’s knowledge whether this Lease is in full force and effect, whether there are any defenses, offsets or claims outstanding by Lessee against Lessor, or the accuracy of any other statement of fact reasonably requested by Lessor.
Subordination and Estoppel Certificate. Upon the Landlord's request, the Tenant shall subordinate this Lease to any mortgage of the Premises granted by the Landlord to a lender to secure any obligation of the Landlord to such Lender, and the Tenant shall execute such estoppel certificates and subordination agreements as may reasonably be required by the Landlord's lender in connection with such financing. The Tenant hereby irrevocably appoints the Landlord its attorney-in-fact to execute such documents, should the Tenant refuse to sign such documents.
Subordination and Estoppel Certificate. Xxxxxx agrees that this Lease shall be subordinate to any mortgages or trust deeds that may hereafter be placed upon the Building or any part thereof, and to any and all advances to be made thereunder, and to the interest thereon, and all renewals, replacements and extensions thereof. The Tenant covenants and agrees to execute and deliver upon demand such further instrument or instruments subordinating this Lease to the lien of any such mortgage or deed of trust as shall be desired by the Landlord and/or any mortgagees or trustees, and hereby irrevocably appoints the Landlord the attorney-in-fact of the Tenant to execute and deliver any such instrument or instruments for and in the name of the Tenant. Tenant consents to the assignment or pledging of this Lease by Landlord as security for the payment of any loans that Landlord may have or shall obtain for the purpose of improving and/or repairing the said improvements of which the Premises are a part, or for constructing other improvements on said Premises. Tenant further agrees at any time, upon not less than ten (10) days prior written request by Landlord, to execute, acknowledge and deliver to Landlord a statement in writing certifying that this Lease is unmodified and is in full force and effect (or if there have been modifications, that the same is in full force and effect as modified), and the date to which the rental and other charges have been paid in advance, if any, it being intended that any such statement may be relied upon by any prospective purchasers of the Premises, or any holder or assignee of a mortgage or deed of trust encumbering the Premises.
Subordination and Estoppel Certificate. Landlord shall have the right to subordinate this Lease to any mortgage presently existing or hereafter placed upon the Building by so declaring in such mortgage; and the recording of any such mortgage shall make it prior and superior to this Lease regardless of the date of execution or recording of either document. Within ten (10) days following receipt of a written request from Landlord, Tenant shall execute and deliver to Landlord, without cost:
Subordination and Estoppel Certificate. Tenant agrees to subordinate its rights under this Lease to the lien of any mortgage granted by Landlord, subject to execution of a subordination, non-disturbance and attornment agreement in form and content reasonably satisfactory to Tenant, Landlord and Landlord's lender. Within ten (10) business days following receipt of a written request from Landlord, Tenant shall execute and deliver to Landlord, without cost, an estoppel certificate in such form as Landlord may reasonably request certifying (i) that this Lease is in fall force and effect and unmodified or stating the nature of any modification, (ii) the date to which rent has' been paid, (iii) that there are not, to Tenant's knowledge, any uncured defaults or specifying such defaults if any are claimed, and (iv) any other matters or state of facts reasonably required respecting the Lease. Such estoppel may be relied upon by Landlord and by any purchaser or mortgagee of the Building,
Subordination and Estoppel Certificate. Section 12.3
Subordination and Estoppel Certificate. Subject to the terms of this Section 12.02, Landlord shall have the right to subordinate Tenant’s leasehold rights to the lien of any mortgage presently existing or hereafter placed upon the Property by so declaring in such mortgage. Within ten (10) business days following receipt of a written request from Landlord, Tenant shall execute and deliver to Landlord, without cost, any instrument which Landlord deems reasonably necessary or desirable to confirm the subordination of this Lease and/or an estoppel certificate in such form as Landlord may reasonably request certifying (i) that this Lease is in full force and effect and unmodified or stating the nature of any modification, (ii) the date to which rent has been paid, (iii) that there are not, to Tenant’s actual knowledge, any uncured defaults or specifying such defaults if any are claimed, and (iv) any other matters or state of facts reasonably required respecting the Lease. Landlord represents that there is currently no mortgage placed on the Property. Upon written request by Tenant and at Tenant’s sole cost and expense, in the event a mortgage is placed on the Property, Landlord shall obtain a subordination, non-disturbance and attornment agreement reasonably acceptable to Tenant, Landlord, and Landlord’s lender.
