Subordination and Nondisturbance. This Lease is and will be subject and subordinate in all respects to any Encumbrance. With respect to any Encumbrance encumbering the Premises as of and subsequent to the Date of this Lease, Landlord will use its best 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, provided such subordination instrument provides 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 Lender. In the alternative, however, any Lender may unilaterally elect to subordinate its Encumbrance to this Lease.
Appears in 1 contract
Samples: Lease Agreement (Encision Inc)
Subordination and Nondisturbance. This Lease is and will be subject and subordinate in all respects to any ground lease, first mortgage or first deed of trust now or later encumbering the Building or Project, and to all their renewals, modifications, supplements, consolidations and replacements (an “Encumbrance”). With respect to any Encumbrance first encumbering the Premises as of and Building or Project subsequent to the Date of this Lease, Landlord will use its best commercially reasonable efforts to cause the Lender holder of such Encumbrance to agree (either in the Encumbrance or in a separate agreement with Tenant) that so long as Tenant is not in default 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 current or prospective holder of an Encumbrance such instrument(s) as may be reasonably required to evidence such subordination, provided such subordination instrument provides that so long as Tenant is not in default of its obligations under this Lease, this Lease will not be terminated and Tenantwithin 10 days after Landlord’s possession of the Premises will not be disturbed by Lenderrequest therefor. 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 (eHealth, Inc.)
Subordination and Nondisturbance. This Lease is and will be subject and subordinate in all respects to any ground Lease, first mortgage or first deed of trust now or later encumbering the Building or Land, and to all their renewals, modifications, supplements, consolidations and replacements (an "Encumbrance"). With respect to any Encumbrance first encumbering the Premises as of and Building or Land subsequent to the Date of this Lease, Landlord will use its best good faith efforts to cause the Lender holder of such Encumbrance 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 the holder of an Encumbrance such instrument(s) as may be reasonably required to evidence such subordination, provided such subordination instrument provides 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 Lender. In the alternative, however, any Lender the holder of an Encumbrance may unilaterally elect to subordinate its such Encumbrance to this Lease.
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Samples: Sublease (Pennaco Energy Inc)
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 ground lease, mortgage or deed of trust encumbering the Premises as Building entered into after the Date, such subordination shall not be effective unless and until the lessor under such ground lease or holder of and subsequent to the Date such mortgage or deed of this Lease, Landlord will use its best efforts to cause the Lender to agree 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, provided such subordination instrument provides 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 Lender. 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
Subordination and Nondisturbance. This Lease is and will be subject and subordinate in all respects to any ground lease, first mortgage or first deed of trust now or later encumbering the Buildings or Project, and to all their renewals, modifications, supplements, consolidations and replacements (an “Encumbrance”). With respect to any Encumbrance first encumbering the Premises as of and Buildings or Project subsequent to the Lease Date of this Lease, Landlord will use its best commercially reasonable efforts to cause the Lender holder of such Encumbrance to agree (either in the Encumbrance or in by delivery of a separate agreement with Tenantcommercially reasonable subordination, non-disturbance and attornment agreement) that so long as Tenant is not in default 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 commercially reasonable instrument(s) as may be reasonably required to evidence such subordination, provided such subordination instrument provides that so long as Tenant is not in default of its obligations under this Lease, this Lease will not be terminated and Tenantwithin 10 business days after Landlord’s possession of the Premises will not be disturbed by Lenderrequest therefor. 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 (Exelixis, Inc.)