Common use of Subordination and Nondisturbance Clause in Contracts

Subordination and Nondisturbance. This Lease is and will be subject and subordinate in all respects to any Encumbrance. With respect to any Encumbrance first encumbering the Building subsequent to the Date of this Lease, upon Tenant's request, Landlord will use its good faith efforts to cause the Lender to agree (either in the Encumbrance or in a separate agreement with Tenant) that so long as Tenant is not in default of its obligations under this Lease, this Lease will not be terminated and Tenant's possession of the Premises will not be disturbed by the termination or foreclosure, or proceedings for enforcement, of such Encumbrance. While such subordination will occur automatically, Tenant agrees, upon request by and without cost to Landlord or any successor in interest, to promptly execute and deliver to Landlord or any Lender such instrument(s) as may be reasonably required to evidence such subordination. In the alternative, however, any Lender may unilaterally elect to subordinate its Encumbrance to this Lease.

Appears in 2 contracts

Samples: Lease Agreement (Essex Corporation), Lease Agreement (Ilx Lightwave Corp)

AutoNDA by SimpleDocs

Subordination and Nondisturbance. This Lease is and will be subject and subordinate in all respects to any Encumbrance. With respect to any Encumbrance first ground lease, mortgage or deed of trust now or later encumbering the Building subsequent Building, and to all their renewals, modifications, supplements, consolidations and replacements (an "Encumbrance") provided the Date holder of this Lease, upon Tenant's request, Landlord will use its good faith efforts to cause the Lender to agree such Encumbrance agrees (either in the Encumbrance or in a separate agreement with Tenant) that so long as Tenant is not in default of its obligations under this Lease, this Lease will not be terminated and Tenant's possession of the Premises will not be disturbed by the termination or foreclosure, or proceedings for enforcement, of such Encumbrance. While such subordination will occur automatically, Tenant agrees, upon request by and without cost to Landlord or any successor in interest, to promptly execute and deliver to Landlord or any Lender the holder of an Encumbrance such instrument(s) as may be reasonably required to evidence such subordination. In the alternative, however, any Lender the holder of an Encumbrance may unilaterally elect to subordinate its such Encumbrance to this Lease. Landlord hereby represents that, as of the Date of this Lease, the Building is not subject to any Encumbrance.

Appears in 1 contract

Samples: Lease Agreement (Matria Healthcare Inc)

Subordination and Nondisturbance. This Lease is and will be subject and subordinate in all respects to any Encumbrance. With respect to any Encumbrance first encumbering the Building subsequent to the Date of this Lease, upon Tenant's ’s request, Landlord will use its good faith efforts to cause the Lender to agree (either in the Encumbrance or in a separate agreement with Tenant) that so long as Tenant is not in default of its obligations under this Lease, this Lease will not be terminated and Tenant's ’s possession of the Premises will not be disturbed by the termination or foreclosure, or proceedings for enforcement, of such Encumbrance. While such subordination will occur automatically, Tenant agrees, upon request by and without cost to Landlord or any successor in interest, to promptly execute and deliver to Landlord or any Lender such instrument(s) as may be reasonably required to evidence such subordination. In the alternative, however, any Lender may unilaterally elect to subordinate its Encumbrance to this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (Biovest International Inc)

Subordination and Nondisturbance. This Lease is and will be subject and subordinate in all respects to any Encumbrance. With respect to any Encumbrance first encumbering the Building or Land subsequent to the Date of this Lease, upon Tenant's request, Landlord will use its good faith efforts to cause the Lender to agree (either in the Encumbrance or in a separate agreement with Tenant) that so long as Tenant is not in default of its obligations under this Lease, this Lease will not be terminated and Tenant's possession of the Premises will not be disturbed by the termination or foreclosure, or proceedings for enforcement, of such Encumbrance. While such subordination will occur automatically, Tenant agrees, upon request by and without cost to Landlord or any successor in interest, to promptly execute and deliver to Landlord or any Lender such instrument(s) as may be reasonably required to evidence such subordination. In the alternative, however, any Lender may unilaterally elect to subordinate its Encumbrance to this Lease.

Appears in 1 contract

Samples: Lease Agreement (Medibuy Com Inc)

AutoNDA by SimpleDocs

Subordination and Nondisturbance. This Lease is and will be subject and subordinate in all respects to any ground lease, mortgage or deed of trust now or later encumbering the Building, and to all their renewals, modifications, supplements, consolidations and replacements (an "Encumbrance. With "); provided, however, that with respect to any Encumbrance first ground lease, mortgage or deed of trust encumbering the Building subsequent to entered into after the Date Date, such subordination shall not be effective unless and until the lessor under such ground lease or holder of this Lease, upon Tenant's request, Landlord will use its good faith efforts to cause the Lender to agree such mortgage or deed of trust agrees (either in the applicable Encumbrance or in a separate agreement with Tenant) that so long as Tenant is not in default of its obligations under this Lease, this Lease will not be terminated and Tenant's possession Tenaxx'x xossession of the Premises will not be disturbed by the termination or foreclosure, or proceedings for enforcement, of such Encumbrance. While such subordination will occur automatically, Tenant agreesTenaxx xxxees, upon request by and without cost to Landlord or any successor in interest, to promptly execute and deliver to Landlord or any Lender the holder of an Encumbrance such instrument(s) as may be reasonably required to evidence such subordination. In the alternative, however, any Lender the holder of an Encumbrance may unilaterally elect to subordinate its such Encumbrance to this Lease.

Appears in 1 contract

Samples: Lease Agreement (Odyssey Re Holdings Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!