Common use of Subordination and Non-Disturbance Agreement Clause in Contracts

Subordination and Non-Disturbance Agreement. This Agreement is subordinate to the lien of all mortgages, deeds of trust, security instruments, ground leases, easement agreements and any covenants, conditions and restrictions (collectively, “Superior Interests”) now or hereafter covering all or any part of the Shopping Center, and to all amendments, modifications, consolidations, renewals, replacements and extensions thereof. Tenant also agrees that, if any mortgagee elects to have this Agreement prior to the lien of its mortgage and signifies such election in the instrument creating its lien, or by separate recorded instrument, this Agreement shall be prior in dignity to such mortgage. In the event of any proceedings brought for the enforcement of any instrument of any Superior Interest holder (including but not limited to a mortgage or lease), Tenant shall, upon demand by the Superior Interest holder, attorn to and recognize such Superior Interest holder as Landlord under this Agreement. Tenant hereby waives its rights under any current or future law which gives or purports to give Tenant any right to terminate or otherwise adversely affect this Agreement and the obligations of Tenant hereunder in the event of any such foreclosure proceeding or sale. Tenant agrees that, in order to confirm the provisions of this Article, but in no way limiting the self-operative effect of said provisions, Tenant shall execute and deliver whatever instruments may be required for such purposes within thirty (30) days following Landlord’s written request. Should Tenant fail to sign and return any such instruments within said thirty (30) day period, Tenant shall be in default hereunder without the benefit of any additional notice or cure periods specified in this Agreement.

Subordination and Non-Disturbance Agreement. This Agreement is subordinate to the lien of all mortgages, deeds of trust, security instruments, ground leases, easement agreements and any covenants, conditions and restrictions (collectively, “Superior Interests”) now or hereafter covering all or any part of the Shopping Center, and to all amendments, modifications, consolidations, renewals, replacements and extensions thereof. Tenant Xxxxxx also agrees that, if any mortgagee elects to have this Agreement prior to the lien of its mortgage and signifies such election in the instrument creating its lien, or by separate recorded instrument, this Agreement shall be prior in dignity to such mortgage. In the event of any proceedings brought for the enforcement of any instrument of any Superior Interest holder (including but not limited to a mortgage or lease), Tenant shall, upon demand by the Superior Interest holder, attorn to and recognize such Superior Interest holder as Landlord under this Agreement. Tenant hereby waives its rights under any current or future law which gives or purports to give Tenant any right to terminate or otherwise adversely affect this Agreement and the obligations of Tenant hereunder in the event of any such foreclosure proceeding or sale. Tenant Xxxxxx agrees that, in order to confirm the provisions of this Article, but in no way limiting the self-operative effect of said provisions, Tenant shall execute and deliver whatever instruments may be required for such purposes within thirty (30) days following LandlordXxxxxxxx’s written request. Should Tenant fail to sign and return any such instruments within said thirty (30) day period, Tenant shall be in default hereunder without the benefit of any additional notice or cure periods specified in this Agreement.