Common use of Subordination Attornment and Estoppel Clause in Contracts

Subordination Attornment and Estoppel. (a) Subject to and conditioned upon the full satisfaction of all other provisions of this Lease, including, without limitation, the requirements of Sections 11 and 12 hereof, and further subject to the provisions of this Section 25, this Lease and the leasehold estate created hereby shall be, at the option and upon written declaration of Landlord, subject, subordinate, and inferior to the lien and estate of any mortgages and all renewals, extensions, or replacements thereof, now or hereafter imposed by Landlord upon the Premises; provided, however, that this Lease shall not be subordinate to any mortgage or any renewal, extension, or replacement thereof, unless and until Landlord provides Tenant with an agreement (the “Non-Disturbance Agreement”), signed and acknowledged by each holder of any such mortgage setting forth that so long as no Event of Default has occurred, Landlord’s and Tenant’s rights and obligations hereunder shall remain in force and Tenant’s right to possession shall be upheld. Tenant shall, promptly following a request by Landlord and after receipt of the Non-Disturbance Agreement, execute and acknowledge any subordination agreement or other documents reasonably required to establish of record the priority of any such encumbrance over this Lease, so long as such agreement does not otherwise increase Tenant’s obligations or diminish Tenant’s rights hereunder.

Subordination Attornment and Estoppel. (a) Subject to and conditioned upon the full satisfaction of all other provisions of this Lease, including, without limitation, the requirements of Sections 11 and 12 hereof, and further subject to the provisions of this Section 25, this Lease and the leasehold estate created hereby shall be, at the option and upon written declaration of Landlord, subject, subordinate, and inferior to the lien and estate of any mortgages and all renewals, extensions, or replacements thereof, now or hereafter imposed by Landlord upon the Premises; provided, however, that this Lease shall not be subordinate to any mortgage or any renewal, extension, or replacement thereof, unless and until Landlord provides Tenant with an agreement (the “Non-Disturbance Agreement”), signed and acknowledged by each holder of any such mortgage setting forth that so long as no Event of Default has occurredTenant is not in default hereunder, Landlord’s and Tenant’s rights and obligations hereunder shall remain in force and Tenant’s right to possession shall be upheld. Tenant shall, promptly following a request by Landlord and after receipt of the Non-Disturbance Agreement, execute and acknowledge any subordination agreement or other documents reasonably required to establish of record the priority of any such encumbrance over this Lease, so long as such agreement does not otherwise increase Tenant’s obligations or diminish Tenant’s rights hereunder.

Subordination Attornment and Estoppel. (a) Subject 19.1 Tenant accepts this Lease subject and subordinate to and conditioned any mortgage, deed of trust, or other lien presently existing or hereafter placed upon the full satisfaction of all other provisions of this Lease, including, without limitation, Leased Premises or upon the requirements of Sections 11 and 12 hereofDevelopment as a whole, and further to any renewals and extensions thereof; but Tenant agrees that any such mortgagee shall have the right at any time to subordinate such mortgage, deed of trust or other lien to this Lease on such terms and subject to the provisions of this Section 25such conditions as such mortgagee may deem appropriate in its discretion. Landlord is hereby irrevocable vested with full power and authority, if it so elects at any time, to subordinate this Lease and the leasehold estate created hereby shall beto any mortgage, at the option and upon written declaration deed of Landlord, subject, subordinate, and inferior to the lien and estate of any mortgages and all renewals, extensionstrust, or replacements thereof, now or other lien hereafter imposed by Landlord placed upon the Premises; providedLeased Premises or upon the Development as a whole. Tenant agrees, howeverupon demand to execute such further instruments subordinating this Lease as Landlord may reasonably request, provided such subordination shall be upon the express condition that this Lease shall not be subordinate to any mortgage or any renewalrecognized by the mortgagee, extension, or replacement thereof, unless and until Landlord provides that the rights of Tenant with an agreement (shall remain in full force and effect during the “Non-Disturbance Agreement”), signed and acknowledged by each holder term of any such mortgage setting forth that this Lease so long as no Event of Default has occurred, Landlord’s and Tenant’s rights and obligations hereunder Tenant shall remain in force and Tenant’s right continue to possession shall be upheld. Tenant shall, promptly following a request by Landlord and after receipt perform all of the Non-Disturbance Agreement, covenants and conditions of this Lease. In the event that Tenant should fail to execute and acknowledge any subordination agreement or other documents reasonably required to establish of record the priority of any such encumbrance over this Leaseinstrument promptly as reasonably requested, so long as Tenant hereby irrevocably constitutes Landlord its attorney-in-fact to execute such agreement does not otherwise increase instrument in Tenant’s obligations or diminish Tenant’s rights hereunder's name, place and stead.

Subordination Attornment and Estoppel. (a) Subject 19.1 Tenant accepts this Lease subject and subordinate to and conditioned any mortgage, deed of trust, or other lien presently existing or hereafter placed upon the full satisfaction of all other provisions of this Lease, including, without limitation, Leased Premises or upon the requirements of Sections 11 and 12 hereofDevelopment as a whole, and further to any renewals and extensions thereof; but Tenant agrees that any such mortgagee shall have the right at any time to subordinate such mortgage, deed of trust or other lien to this Lease on such terms and subject to the provisions of this Section 25such conditions as such mortgagee may deem appropriate in its discretion. Landlord is hereby irrevocable vested with full power and authority, if it so elects at any time, to subordinate this Lease and the leasehold estate created hereby shall beto any mortgage, at the option and upon written declaration deed of Landlord, subject, subordinate, and inferior to the lien and estate of any mortgages and all renewals, extensionstrust, or replacements thereof, now or other lien hereafter imposed by Landlord placed upon the Premises; providedLeased Premises or upon the Development as a whole. Tenant agrees, howeverupon demand to execute such further instruments subordinating this Lease as Landlord may reasonably request, provided such subordination shall be upon the express condition that this Lease shall not be subordinate to any mortgage or any renewalrecognized by the mortgagee, extension, or replacement thereof, unless and until Landlord provides that the rights of Tenant with an agreement (shall remain in full force and effect during the “Non-Disturbance Agreement”), signed and acknowledged by each holder term of any such mortgage setting forth that this Lease so long as no Event Tenant shall continue to perform all of Default has occurredthe covenants and conditions of this Lease. In the event that Tenant should fail to execute any such instrument promptly as reasonably requested, Landlord’s and Tenant hereby irrevocably constitutes Landlord its attorney-in-fact to execute such instrument in Tenant’s rights name, place and obligations hereunder shall remain in force and Tenant’s right to possession shall be upheld. Tenant shall, promptly following a request by Landlord and after receipt of the Non-Disturbance Agreement, execute and acknowledge any subordination agreement or other documents reasonably required to establish of record the priority of any such encumbrance over this Lease, so long as such agreement does not otherwise increase Tenant’s obligations or diminish Tenant’s rights hereunderstead.