Common use of Subordination and Estoppel Certificate Clause in Contracts

Subordination and Estoppel Certificate. 22.1 This Agreement is subject and subordinate to all mortgages, deeds of trust and related security instruments which may now or hereafter encumber the Leased Premises and to all renewals, modifications, consolidations, replacements and extensions thereof and to each advance made or hereafter to be made thereunder. This subordination shall be self-operative and no further instrument of subordination is required. In confirmation of such subordination, however, Lessee shall, at Lessor's request, execute promptly any appropriate certificate or instrument that Lessor may request. In the event of the enforcement by the trustee or the beneficiary under any such mortgage or deed of trust of the remedies provided for by law or by any such mortgage or deed of trust, Lessee will, upon request of any person or party succeeding to the interest of said trustee or beneficiary as a result of such enforcement, automatically become the tenant of, and attorn to, such successor in interest without change in the terms or provisions of this Agreement; provided, however, that such successor in interest shall not be bound by: (i) any payment of Base Rental Fee for more than one month in advance; or (ii) any amendment or modification of this Agreement made without the written consent of such trustee or such beneficiary or such successor in interest. Upon request by such successor in interest, Lessee shall execute and deliver an instrument or instruments confirming the attornment herein provided for. Lessor shall use commercially reasonable efforts to provide to Lessee within thirty (30) days following the date of this Agreement nondisturbance agreements from Lessor's lenders in form and substance reasonably satisfactory to Lessee. Lessor acknowledges that Lessee's inventories may serve as collateral for Lessee's financing and agrees to subordinate in writing any applicable landlord liens to the extent same may affect Lessee's inventory.

Subordination and Estoppel Certificate. 22.1 This Agreement is Lease shall be subject and subordinate to all mortgages, deeds of trust and related security instruments which may now any mortgage presently existing or hereafter encumber placed upon the Building and/or Land by so declaring in such mortgage, provided that the holder of said mortgage, for itself and its successors and assigns, including, without limitation, any purchaser at foreclosure sale or by deed in lieu of foreclosure, agrees to recognize this Lease and not to disturb Tenant’s possession of the Leased Premises or use of Project so long as Tenant is not in Default hereunder. Such subordination and to all renewals, modifications, consolidations, replacements non-disturbance may be evidenced by a subordination and extensions thereof and to each advance made or hereafter to be made thereundernon-disturbance agreement as set forth herein. This subordination shall be self-operative and no further instrument of subordination is required. In confirmation of such subordination, however, Lessee shall, at Lessor's Promptly following Landlord’s request, Tenant shall execute promptly any appropriate certificate or instrument a subordination and non-disturbance and attornment agreement which shall provide the holder shall not disturb Tenant’s right of possession so long as Tenant is not in Default, and that Lessor may request. In the Tenant shall attorn to and recognize the mortgage holder in the event of the enforcement by the trustee or the beneficiary under any that such mortgage or deed of trust of the remedies provided for by law or by any such mortgage or deed of trust, Lessee will, upon request of any person or party succeeding holder succeeds to the interest of said trustee or beneficiary as a result of such enforcement, automatically become Landlord under the tenant ofLease, and attorn tofurther providing that the mortgage holder and its successors and assigns, such successor in interest without change in the terms or provisions of this Agreement; providedas provided above, however, that such successor in interest shall not be bound by: , (i) any payment of Base Rental Fee for Minimum Annual Rent or Additional Rent made more than one month in advance; or , and (ii) defaults of the Landlord under this Lease or any amendment or modification offset rights relating to such defaults. Within fifteen (15) days following receipt of this Agreement made without the a written consent of such trustee or such beneficiary or such successor in interest. Upon request by such successor in interestfrom Landlord, Lessee Tenant shall execute and deliver to Landlord, without cost, any instrument which is reasonably requested to confirm the subordination, non-disturbance and attornment obligations of this Lease. Furthermore, either party may request from the other an instrument estoppel certificate in such form as such party may reasonably request certifying (i) that this Lease is in full force and effect and unmodified or instruments confirming stating the attornment herein provided for. Lessor shall use commercially reasonable efforts to provide to Lessee within thirty nature of any modification, (30ii) days following the date of this Agreement nondisturbance agreements from Lessor's lenders in form and substance reasonably satisfactory to Lessee. Lessor acknowledges which rent has been paid, (iii) that Lessee's inventories may serve as collateral for Lessee's financing and agrees to subordinate in writing any applicable landlord liens there are not, to the extent same delivering 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 this Lease. Such estoppel, when requested by Landlord, may affect Lessee's inventorybe relied upon by Landlord and by any purchaser or mortgagee of the Building, or when requested by Tenant, may be relied upon by Tenant, or any assignee, subtenant or lender of Tenant. 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. 22.1 This Agreement is subject and subordinate to all mortgages, deeds of trust trust, and related security instruments which may now or hereafter encumber the Leased Premises Facility and to all renewals, modifications, consolidations, replacements replacements, and extensions thereof and to each advance made or hereafter to be made thereunder. This subordination shall be self-operative self­operative and no further instrument of subordination is required. In confirmation of such subordination, however, Lessee shall, at Lessor's request, execute promptly any appropriate certificate or instrument that Lessor may request. In the event of the enforcement by the trustee or the beneficiary under any such mortgage or deed of trust of the remedies provided for by law Applicable Law or by any such mortgage or deed of trust, Lessee will, upon request of any person or party succeeding to the interest of said trustee or beneficiary as a result of such enforcement, automatically become the tenant of, and attorn to, such successor in interest without change in the terms or provisions of this Agreement; provided, however, that such successor in interest shall not be bound by: (i) any payment of Base Rental Fee for more than one (1) month in advance; or (ii) any amendment or modification of this Agreement made without the written consent of such trustee or such beneficiary or such successor in interest. Upon request by such trustee, beneficiary, or successor in interest, Lessee shall execute and deliver an instrument or instruments confirming the attornment herein provided forfor herein. Lessor shall use commercially reasonable efforts to provide to Lessee within thirty (30) days following the date of this Agreement nondisturbance Agreement, non­disturbance agreements from Lessor's lenders in form and substance reasonably satisfactory to Lessee. Lessor shall likewise provide to Lessee non-disturbance agreements in form and substance reasonably satisfactory to Lessee from any successor or replacement lender(s) in connection with placement of any mortgage, deed of trust or similar encumbrance against the Leased Premises within thirty (30) days following the date such encumbrance is placed of record. Lessor acknowledges that Lessee's inventories may serve as collateral for Lessee's financing and agrees to subordinate in writing any applicable landlord liens to the extent same may affect Lessee's inventory.

Subordination and Estoppel Certificate. 22.1 This Agreement is subject and subordinate to all mortgages, deeds of trust and related security instruments which may now or hereafter encumber the Leased Premises and to all renewals, modifications, consolidations, replacements and extensions thereof and to each advance made or hereafter to be made thereunder. This subordination shall be self-operative and no further instrument of subordination is required. In confirmation of such subordination, however, Lessee shall, at Lessor's request, execute promptly any appropriate certificate or instrument that Lessor may request. In the event of the enforcement by the trustee or the beneficiary under any such mortgage or deed of trust of the remedies provided for by law or by any such mortgage or deed of trust, Lessee will, upon request of any person or party succeeding to the interest of said trustee or beneficiary as a result of such enforcement, automatically become the tenant of, and attorn to, such successor in interest without change in the terms or provisions of this Agreement; provided, however, that such successor in interest shall not be bound by: (i) any payment of Base Rental Fee for more than one month in advance; : or (ii) any amendment or modification of this Agreement made without the written consent of such trustee or such beneficiary or such successor in interest. Upon request by such successor in interest, Lessee shall execute and deliver an instrument or instruments confirming the attornment herein provided for. Lessor shall use commercially reasonable efforts to provide to Lessee within thirty (30) days following the date of this Agreement nondisturbance Agreement, non-disturbance agreements from Lessor's lenders in form and substance reasonably satisfactory to Lessee. Lessor shall likewise provide to Lessee non-disturbance agreements in form and substance reasonably satisfactory to Lessee from any successor or replacement lender(s) in connection with placement of any mortgage, deed of trust or similar encumbrance against the Leased Premises within thirty (30) days following the date such encumbrance is placed of record. Lessor acknowledges that Lessee's inventories may serve as collateral for Lessee's financing and agrees to subordinate in writing any applicable landlord liens to the extent same may affect Lessee's inventory.

Subordination and Estoppel Certificate. 22.1 This Agreement is subject 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 subordinate deliver to all mortgagesLandlord, deeds without cost, a subordination nondisturbance and attornment agreement in the form of trust and related security instruments Exhibit O hereto (an “SNDA”), which may now or hereafter encumber the Leased Premises and to all renewals, modifications, consolidations, replacements and extensions thereof and to each advance made or hereafter to be made thereunder. This subordination SNDA shall be self-operative effective only if the same is executed by Landlord and no further instrument of subordination is required. In confirmation of such subordination, however, Lessee shall, at Lessor's request, execute promptly any appropriate certificate or instrument that Lessor may request. In the event holder of the enforcement by the trustee or the beneficiary under any such mortgage or deed of trust of the remedies provided for by law or by any such mortgage or mortgage, deed of trust, Lessee willor other instrument of security to which this Lease is to become subordinated by such SNDA. Additionally, from time to time, upon written request of any person either Landlord or Tenant, the party succeeding receiving such request shall execute, acknowledge and deliver to the interest requesting party or its designee, within ten (10) business days following receipt of said trustee or beneficiary as a result written request, a commercially reasonable form of such enforcement, automatically become the tenant of, and attorn to, such successor in interest without change in the terms or provisions of this Agreement; provided, however, that such successor in interest shall not be bound by: estoppel certificate certifying (i) that this Lease is in full force and effect and unmodified or stating the nature of any payment of Base Rental Fee for more than one month in advance; or modification, (ii) any amendment or modification of this Agreement made without the written consent of such trustee or such beneficiary or such successor in interest. Upon request by such successor in interest, Lessee shall execute and deliver an instrument or instruments confirming the attornment herein provided for. Lessor shall use commercially reasonable efforts to provide to Lessee within thirty (30) days following the date of this Agreement nondisturbance agreements from Lessor's lenders in form and substance reasonably satisfactory to Lessee. Lessor acknowledges which rent has been paid, (iii) that Lessee's inventories may serve as collateral for Lessee's financing and agrees to subordinate in writing any applicable landlord liens there are not, to the extent same 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 affect Lessee's inventorybe 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.