Common use of SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION Clause in Contracts

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease is subject and subordinate to all Mortgages now or hereafter placed upon the Property, and all other encumbrances and matters of public record applicable to the Property, including without limitation, any reciprocal easement or operating agreements, ground or underlying leases, and Tenant shall not act or permit the Premises to be operated in violation thereof and Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premises, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will not disturb Tenant’s right of possession under this Lease if Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice and cure provision(s). Tenant agrees, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estates. If any foreclosure or power of sale proceedings are initiated by any Lender or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, upon written request of any such Lender or any purchaser at such foreclosure sale, to attorn and pay Rent to such party and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornment, within ten (10) business days of Landlord’s request therefor. In the event of attornment, no Lender shall be: (i) liable for any act or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender becoming Landlord under such attornment), (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such Lender, or (iii) bound by any future modification of this Lease not consented to by such Lender. Any Lender may elect to to make this Lease prior to the lien of its Mortgage, and if the Lender under any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Tenant agrees to give any Lender by certified mail, return receipt requested, a copy of any notice of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of services on Tenant of a copy of an assignment of leases, or otherwise) of the name and address of such Lender. Tenant further agrees that if Landlord shall have failed to cure such default within the time permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operations, any such lender whose address has been so provided to Tenant shall have an additional period of thirty (30) days in which to cure (or such additional time as may be required due to causes beyond such Lender’s control, including time to obtain possession of the Building by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cure). The provisions of this Article shall be self-operative; however, Tenant shall execute such reasonable documentation as Landlord or any Lender may request from time to time in order to confirm the matters set forth in this Article in recordable form. To the extent not expressly prohibited by Law, Tenant waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completed.

Appears in 4 contracts

Samples: Lease (Editas Medicine, Inc.), Lease (Editas Medicine, Inc.), Lease (Editas Medicine, Inc.)

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SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease is subject and subordinate to all Mortgages (as defined in Article 25) now or hereafter placed upon the Property, and all other encumbrances and matters of public record applicable to the Property, including without limitation, any reciprocal easement or operating agreements, ground or underlying leases, and Tenant shall not act or permit the Premises to be operated in violation thereof and Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premises, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will not disturb Tenant’s right of possession under this Lease if Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice and cure provision(s). Tenant agrees, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estates. If any foreclosure or power of sale proceedings are initiated by any Lender Holder or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, upon written request of any such Lender Holder or any purchaser at such foreclosure sale, to attorn and pay Rent to such party and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornmentattornment (provided such Holder or purchaser shall agree to accept this Lease and not disturb Tenant's occupancy, so long as Tenant does not default and fail to cure within ten (10) business days of Landlord’s request thereforthe time permitted hereunder). In However, in the event of attornment, no Lender Holder shall be: (i) liable for any act or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender Holder becoming Landlord under such attornment), (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such LenderHolder, or (iii) bound by any future modification of this Lease not consented to by such LenderHolder. Any Lender Holder (as defined in Article 25) may elect to to make this Lease prior to the lien of its Mortgage, by written notice to Tenant, and if the Lender under Holder of any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Tenant agrees to give any Lender Holder by certified mail, return receipt requested, a copy of any notice of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of services service on Tenant of a copy of an assignment of leases, or otherwise) of the name and address of such LenderHolder. Tenant further agrees that if Landlord shall have failed to cure such default within the time times permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operationsLease, any such lender Holder whose address has been so provided to Tenant shall have an additional period of thirty (30) days in which to cure (or such additional time as may be required due to causes beyond such Lender’s Holder's control, including time to obtain possession of the Building Property by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cureaction). The provisions of this Article shall be self-operative; however, Tenant shall execute such reasonable documentation as Landlord or any Lender may reasonably request from time to time time, in order to confirm the matters set forth in this Article in recordable form. To the extent not expressly prohibited by Law, Tenant waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completed.

Appears in 3 contracts

Samples: Office Lease (Peapod Inc), Agreement (Industrial Training Corp), Office Lease (Interactive Flight Technologies Inc)

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease is subject and subordinate to all Mortgages now or hereafter placed upon the PropertyBuilding, and all other encumbrances and matters of public record applicable to the PropertyBuilding, including without limitation, any reciprocal easement or operating agreements, ground or underlying leasescovenants, conditions and restrictions and Tenant shall not act or permit the Premises to be operated in violation thereof and Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premises, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will not disturb Tenant’s right of possession under this Lease if Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice and cure provision(s). Tenant agrees, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estates. If any foreclosure or power of sale proceedings are initiated by any Lender or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, upon written request of any such Lender or any purchaser at such foreclosure sale, to attorn and pay Rent to such party and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornment, within ten (10) business days of Landlord’s request therefor. In the event of attornment, no Lender shall be: (i) liable for any act or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender becoming Landlord under such attornment), (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such Lender, or (iii) bound by any future modification of this Lease not consented to by such Lender. Any Lender may elect to to make this Lease prior to the lien of its Mortgage, and if the Lender under any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Tenant agrees to give any Lender by certified mail, return receipt requested, a copy of any notice of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of services service on Tenant of a copy of an assignment of leases, or otherwise) of the name and address of such Lender. Tenant further agrees that if Landlord shall have failed to cure such default within the time permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operationsLease, any such lender Lender whose address has been so provided to Tenant shall have an additional period of thirty (30) days in which to cure (or such additional time as may be required due to causes beyond such Lender’s 's control, including time to obtain possession of the Building by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cureforeclosure). The provisions of this Article shall be self-operative; however, Tenant shall execute such reasonable documentation as Landlord or any Lender may request from time to time in order to confirm the matters set forth in this Article in recordable form. To the extent not expressly prohibited by Law, Tenant waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s 's obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completed.

Appears in 2 contracts

Samples: Seec Inc, Quikbiz Internet Group Inc

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease is subject and subordinate to all Mortgages now or hereafter placed upon the PropertyBuilding, and all other encumbrances and matters of public record applicable to the PropertyBuilding, including without limitation, any reciprocal easement or operating agreements, ground or underlying leasescovenants, conditions and restrictions and Tenant shall not act or permit the Premises to be operated in violation thereof and Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premises, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will not disturb Tenant’s right of possession under this Lease if Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice and cure provision(s). Tenant agrees, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estates. If any foreclosure or power of sale proceedings are initiated by any Lender or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, upon written request of any such Lender or any purchaser at such foreclosure sale, to attorn and pay Rent to such party and to execute and deliver any instruments instruments, reasonable in form, necessary or appropriate to evidence or effectuate such attornment, within ten provided such party has agreed in writing not to disturb Tenant’s occupancy of the Premises if Tenant is not then in material default of the Lease (10) business days following the expiration of Landlord’s request thereforall applicable cure periods). In the event of attornment, no Lender shall be: (i) liable for any act or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender becoming Landlord under such attornment), (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such Lender, or (iii) bound by any future modification of this Lease not consented to by such Lender. Any Lender may elect to to make this Lease prior to the lien of its Mortgage, and if the Ring Central, Inc. Lease 24 Lender under any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Tenant agrees to give any Lender by certified mail, return receipt requested, a copy of any notice of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of services service on Tenant of a copy of an assignment of leases, or otherwise) of the name and address of such Lender. Tenant further agrees that if Landlord shall have failed to cure such default within the time permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operationsLease, any such lender Lender whose address has been so provided to Tenant shall have an additional period of thirty (30) days in which to cure (or such additional time as may be required due to causes beyond such Lender’s control, including time to obtain possession of the Building by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cureforeclosure). The provisions of this Article shall be self-operative; however, Tenant shall execute such reasonable documentation as Landlord or any Lender may request from time to time in order to confirm the matters set forth in this Article in recordable form. To the extent not expressly prohibited by Law, Tenant waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completed.

Appears in 2 contracts

Samples: Office Lease, Office Lease (RingCentral Inc)

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease is subject and subordinate to all Mortgages now or hereafter placed upon the Property, and all other encumbrances and matters of public record applicable to the Property, including without limitation, any reciprocal easement or operating agreements, ground or underlying leases, covenants, conditions and restrictions and Tenant shall not act or permit the Premises to be operated in violation thereof thereof. Landlord hereby represents and warrants that there is presently no holder of any mortgage or ground lease affecting the Building or the underlying property. Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter hereinafter be executed covering the Premises, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will not disturb Tenant’s 's right of possession under this Lease if Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice and cure provision(s)periods. Tenant agrees, within ten business (10) business days after Landlord’s 's, written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estates, provided the same contain commercially reasonable terms and conditions. If any foreclosure or power of sale proceedings are initiated by any Lender or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, upon written request of any such Lender or any purchaser at such foreclosure sale, to attorn and pay Rent to such party and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornment, within ten five (105) business days of Landlord’s 's request therefor. In the event of attornment, no Lender shall be: (i) liable for any act or omission of LandlordLandlord (provided, however, that Lender will cure any defaults of a continuing nature of which Lender had received notice at the initial onset of such default and a reasonable opportunity to cure), or subject to any offsets or defenses which Tenant might have against Landlord except for to the payment of any outstanding Tenant Work Allowance (prior to such Lender becoming Landlord extent expressly provided under such attornment)this Lease, (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such Lender, or (iii) bound by any future modification of this Lease not consented to by such LenderLender (other than modifications specifically contemplated herein such as, by way of example, the amendment contemplated in Article 32(a) hereof). Any Lender may elect to to make this Lease prior to the lien of its Mortgage, and if the Lender under any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Tenant agrees to give any Lender by certified mail, return receipt requested, a copy of any notice of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of services service on Tenant of a copy of an assignment of leases, or otherwise) of the name and address of such Lender. Tenant further agrees that if Landlord shall have failed to cure such default within the time permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operationsLease, any such lender Lender whose address has been so provided to Tenant shall have an additional period of thirty (30) days in which to cure (or such additional time as may be required due to causes beyond such Lender’s 's control, including time to obtain possession of the Building by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cureforeclosure). The provisions of this Article shall be self-operative; however, Tenant shall execute such reasonable documentation as Landlord or any Lender may request from time to time in order to confirm the matters set forth in this Article in recordable form. To the extent not expressly prohibited by Law, Tenant waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s 's obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completed.

Appears in 2 contracts

Samples: Lease (Archemix Corp.), Office Lease (Archemix Corp.)

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease is subject and subordinate to all Mortgages (as defined in Article 25) now or hereafter placed upon the Property, and all other encumbrances and matters of public record applicable to the Property, including without limitation, any reciprocal easement or operating agreements, ground or underlying leases, and Tenant shall not act or permit the Premises to be operated in violation thereof and Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premises, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will not disturb Tenant’s right of possession under this Lease if Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice and cure provision(s). Tenant agrees, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estates. If any foreclosure or power of sale proceedings are initiated by any Lender Holder or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, upon written request of any such Lender Holder or any purchaser at such foreclosure sale, to attorn and pay Rent to such party and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornmentattornment (provided such Holder or purchaser shall agree to accept this Lease and not disturb Tenant's occupancy, so long as Tenant does not default and fail to cure within ten (10) business days of Landlord’s request thereforthe time permitted hereunder). In However, in the event of attornment, no Lender Holder shall be: (i) liable for any act or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender Holder becoming Landlord under such attornment), (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such LenderHolder, or (iii) bound by any future modification of this Lease not consented to by such LenderHolder. Any Lender Holder (as defined in Article 25) may elect to to make this Lease prior to the lien of its Mortgage, by written notice to Tenant, and if it the Lender under Holder of any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Tenant agrees to give any Lender Holder by certified mail, return receipt requested, a copy of any notice of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of services service on Tenant of a copy of an assignment of leases, or otherwise) of the name and address of such LenderHolder. Tenant further agrees that if Landlord shall have failed to cure such default within the time times permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operationsLease, any such lender Holder whose address has been so provided to Tenant shall have an additional period of thirty (30) days in which to cure (or such additional time as may be required due to causes beyond such Lender’s Holder's control, including time to obtain possession of the Building Property by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cureaction). The provisions of this Article shall be self-operative; however, Tenant shall execute such reasonable documentation as Landlord or any Lender may reasonably request from time to time time, in order to confirm the matters set forth in this Article in recordable form. To the extent not expressly prohibited by Law, Tenant waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completed.

Appears in 2 contracts

Samples: Agreement (Corechange Inc), Agreement (Corechange Inc)

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease is subject and subordinate to all Mortgages mortgages, deeds of trust, encumbrances and any renewals, modifications, replacements or extensions thereof (“Mortgages”) now or hereafter placed upon the Property, Premises and all other encumbrances and matters of public record applicable to the Property, including without limitation, any reciprocal easement or operating agreements, ground or underlying leases, and Tenant shall not act or permit the Premises to be operated in violation thereof and Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premises, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will not disturb Tenant’s right of possession under this Lease if Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice and cure provision(s). Tenant agrees, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estates. If any foreclosure or power of sale proceedings are initiated by any Lender lender or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, upon written request of any such Lender lender or any purchaser at such foreclosure sale, to attorn and pay Rent to such party and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornmentattornment (provided such lender or purchaser shall agree to accept this Lease and not disturb Tenant’s occupancy, so long as Tenant does not default and fail to cure within ten (10) business days of Landlord’s request thereforthe time permitted hereunder. In However, in the event of attornment, no Lender lender shall be: (i) liable for any act or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender lender becoming Landlord under such attornment), (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such Lenderlender, or (iii) bound by any future modification of this Lease not consented to by such Lender. Any Lender may elect to to make this Lease prior to the lien of its Mortgage, and if the Lender under any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenantlender. Tenant agrees to give any Lender lender by certified mail, return receipt requested, a copy of any notice of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of services on Tenant of a copy of an assignment of leases, or otherwise) of the name and address of such Lenderlender. Tenant further agrees that if Landlord shall have failed to cure such default within the time permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operations, any such lender whose address has been so provided to Tenant shall have an additional period of thirty (30) days in which to cure (or such additional time as may be required due to causes beyond such Lenderlender’s control, including time to obtain possession of the Building Property by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cureaction). The provisions of this Article shall be self-operative; however, Tenant shall execute such reasonable documentation as Landlord or any Lender may reasonably request from time to time time, in order to confirm the matters set forth in this Article Section in recordable form. To the extent not expressly prohibited by Law, Tenant waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completed.

Appears in 2 contracts

Samples: Lease Agreement (Community Heritage Financial, Inc.), Lease Agreement (Community Heritage Financial, Inc.)

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease is subject and subordinate to all Mortgages now or hereafter placed upon the PropertyBuilding, and all other encumbrances and matters of public record applicable to the PropertyBuilding, including without limitation, any reciprocal easement or operating agreements, ground or underlying leasescovenants, conditions and restrictions and Tenant shall not act or permit the Premises to be operated in violation thereof and Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premises, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will not disturb Tenant’s right of possession under this Lease if Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice and cure provision(s). Tenant agrees, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estates. If any foreclosure or power of sale proceedings are initiated by any Lender or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, upon written request of any such Lender or any purchaser at such foreclosure sale, to attorn and pay Rent to such party and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornment, within ten (10) business days of Landlord’s request therefor. In the event of attornment, no Lender shall be: (i) liable for any act or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender becoming Landlord under such attornment), (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such Lender, or (iii) bound by any future modification of this Lease not consented to by such Lender. Any Lender may elect to to make this Lease prior to the lien of its Mortgage, and if the Lender under wider any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Tenant agrees to give any Lender by certified mail, return receipt requested, a copy of any notice of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of services service on Tenant of a copy of an assignment of leases, or otherwise) of the name and address of such Lender. Tenant further agrees that if Landlord shall have failed to cure such default within the time permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operationsLease, any such lender Lender whose address has been so provided provide to Tenant shall have an additional period of thirty (30) days in which to cure (or such additional time as may be required due to en causes beyond such Lender’s Lendex's control, including time to obtain possession of the Building by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cureforeclosure). The provisions of this Article shall be self-operative; however, Tenant shall execute such reasonable documentation as Landlord or any Lender may request from time to time in order to confirm the matters set forth in this Article in recordable form. To the extent not expressly prohibited by Law, Tenant waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s 's obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completed.

Appears in 1 contract

Samples: C B Com Inc

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. No Mortgage encumbers the Property as of the date of execution of this Lease. This Lease is subject and subordinate to all Mortgages now or hereafter placed upon the Property, and all other encumbrances and matters of public record applicable to the Property, including without limitation, any reciprocal easement or operating agreements, ground or underlying leases, and Tenant shall not act or permit the Premises to be operated in violation thereof and Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premises, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will not disturb Tenant’s right of possession under this Lease if Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice and cure provision(s). Tenant agrees, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estates. If any foreclosure or power of sale proceedings are initiated by any Lender Holder or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, upon written request of any such Lender or any purchaser at such foreclosure sale, agrees to attorn and pay Rent to such party any Holder which is a successor to Landlord hereunder or a purchaser at a foreclosure sale and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornmentattornment (provided such Holder or purchaser shall agree to accept this Lease and not disturb Tenant's occupancy, so long as Tenant does not default and fail to cure within ten (10) business days of Landlord’s request thereforthe time permitted hereunder). In However, in the event of attornment, no Lender Holder shall be: (i) liable for any act or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender Holder becoming Landlord under such attornment), (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such LenderHolder, or (iii) bound by any future modification of this Lease not consented to by such Lender. Any Lender may elect to to make this Lease Holder, (iv) be liable for any accrued obligation, act or omission of any prior landlord (including, without limitation, Landlord), whether prior to or after foreclosure or termination of the lien of its Mortgagesuperior lease, and if as the Lender under case may be, (v) be bound by any prior Mortgage shall requirecovenant to undertake or complete any improvement to the Property or the Premises, this Lease shall be prior or to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. reimburse or pay Tenant agrees to give any Lender by certified mail, return receipt requested, a copy for the cost of any notice such improvement, (vi) be required to perform or provide any services not related to possession or quiet enjoyment of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of services on Tenant of a copy of an assignment of leasesthe Premises, or otherwise(vii) of the name and address of such Lender. Tenant further agrees that if Landlord shall have failed to cure such default within the time permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operations, any such lender whose address has been so provided to Tenant shall have an additional period of thirty (30) days in which to cure (or such additional time as may be required due to causes beyond such Lender’s control, including time to obtain possession abide by any provisions for the diminution or abatement of the Building by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cure)rent. The provisions of this Article shall be self-operative; however, Tenant shall execute such reasonable documentation as Landlord or any Lender may request from time to time in order to confirm the matters set forth in this Article in recordable form. To the extent not expressly prohibited by Law, Tenant waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completed."

Appears in 1 contract

Samples: Office Lease

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease is subject and subordinate to all Mortgages (as defined in Article 26) now or hereafter placed upon the Property, and all other encumbrances and matters of public record applicable to the Property. Provided Tenant receives a commercially reasonable non-disturbance, including without limitationsubordination and attornment agreement from any new Holder, any reciprocal easement or operating agreementswhich Tenant hereby agrees to execute, ground or underlying leases, and Tenant shall not act or permit the Premises to be operated in violation thereof and Landlord shall have the right to cause this Lease to shall be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering placed on the Premises, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will not disturb Tenant’s right of possession under this Lease if Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice and cure provision(s). Tenant agrees, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estatesProperty. If any foreclosure or power of sale proceedings are initiated by any Lender Holder (as defined in Article 26) or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, upon written request of any such Lender Holder or any purchaser at such foreclosure sale, to attorn and pay Rent to such party and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornment. However, within ten (10) business days of Landlord’s request therefor. In in the event of attornment, no Lender Holder shall be: (i) liable for any act action or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender Holder becoming Landlord under such attornment), (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such Lender, Holder or (iii) bound by any future modification of this Lease not consented to by such LenderHolder. Any Lender Holder may elect to to make this Lease prior to the lien of its Mortgage, by written notice to Tenant, and if the Lender under Holder of any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Tenant agrees to give any Lender Holder by certified mail, return receipt requested, a copy of any notice of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of services service on Tenant of a copy of an assignment of leases, or otherwise) of the name and address of such LenderHolder. Tenant further agrees that if Landlord shall have failed to cure such default within the time times permitted by Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operationsLease, any such lender Holder whose address has been so provided to Tenant shall have an additional period of thirty (30) days in which to cure (or such additional time time, not to exceed 180 days, as may be required due to causes beyond such Lender’s Holder's control, including time to obtain possession of the Building Property by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cureaction). The provisions of this Article shall be self-operative; however, Tenant shall execute such reasonable documentation as Landlord or any Lender may reasonably request from time to time in recordable form, in order to confirm the matters set forth in this Article in recordable form. To the extent not expressly prohibited by Law, Tenant waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completedArticle.

Appears in 1 contract

Samples: Office Lease (Art Technology Group Inc)

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease is subject and subordinate to all Mortgages now or hereafter placed upon the PropertyBuilding, and all other encumbrances and matters of public record applicable to the PropertyBuilding, including without limitation, any reciprocal easement or operating agreements, ground or underlying leasescovenants, conditions and restrictions and Tenant shall not act or permit the Premises to be operated in violation thereof and Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premises, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will not disturb Tenant’s right of possession under this Lease if Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice and cure provision(s). Tenant agrees, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estates. If any foreclosure or power of sale proceedings are initiated by any Lender or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, upon written request of if any such Lender or any purchaser at such foreclosure salesale shall acquire and accept the Building subject to this Lease, to attorn and pay Rent to such party and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornment, within ten (10) business days of Landlord’s request therefor. In the event of attornment, no Lender shall be: (i) liable for any act or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender becoming Landlord under such attornment), (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such Lender, or (iii) bound by any future modification of this Lease not consented to by such Lender. Any Lender may elect to to make this Lease prior to the lien of its Mortgage, and if the Lender under any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Upon request of any such Lender or purchaser, including any such request made by reason of the termination of this Lease as a result of such foreclosure or other proceedings, Tenant shall enter into a new lease with such Lender or purchaser on the terms and conditions of this Lease applicable to the remainder of the term hereof. Tenant agrees to give any Lender by certified mail, return receipt requested, a copy of any notice of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of services service on Tenant of a copy of an assignment of leases, or otherwise) of the name and address of such Lender. Tenant further agrees that if Landlord shall have failed to cure such default within the time permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operationsLease, any such lender Lender whose address has been so provided to Tenant shall have an additional period of thirty (30) days in which to cure (or such additional time as may be required due to causes beyond such Lender’s control, including time to obtain possession of the Building by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cureforeclosure). The provisions of this Article shall be self-operative; however, Tenant shall execute such reasonable documentation as Landlord or any Lender may request from time to time in order to confirm the matters set forth in this Article in recordable form. To the extent not expressly prohibited by Law, Tenant waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completed. Notwithstanding the above, upon Tenant’s written request, Landlord shall request that its then current Lender execute a written “non-disturbance agreement” in favor of Tenant providing that if Tenant is not in default under this Lease beyond any applicable grace period, such party will recognize this Lease and Tenant’s rights hereunder and will not disturb Tenant’s possession hereunder, and if this Lease is by operation of law terminated in a foreclosure, that a new lease will be entered into on the same terms as this Lease for the remaining term hereof; provided that if, in order to obtain such non-disturbance agreement Landlord is required to expend any sum, Landlord shall so notify Tenant and Tenant may elect to pay such sum or to withdraw Tenant’s request for such non-disturbance agreement. In no event shall Landlord be required to expend any sums in connection therewith. The failure of any such Lender to execute and deliver such a non-disturbance agreement upon Landlord’s request shall not constitute a default hereunder by Landlord, it being understood that Landlord’s sole obligation is to request in good faith the execution and delivery of such agreement. Landlord represents and warrants to Tenant that as of the date of this Lease there is no Mortgage or Lender in place with respect to the Buildings or other portions of the Real Property.

Appears in 1 contract

Samples: Office Lease (Intersil Corp/De)

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease is subject and subordinate to all Mortgages now or hereafter placed upon the PropertyBuilding, and all other encumbrances and matters of public record applicable to the PropertyBuilding, including without limitation, any reciprocal easement or operating agreements, ground or underlying leasescovenants, conditions and restrictions and Tenant shall not act or permit the Premises to be operated by Tenant or any Tenant Parties in violation thereof and Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premises, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will not disturb Tenant’s right of possession under this Lease if Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice and cure provision(s). Tenant agrees, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estates. If any foreclosure or power of sale proceedings are initiated by any Lender or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, upon written request of if any such Lender or any purchaser at such foreclosure salesale shall acquire and accept the Building subject to this Lease, to attorn and pay Rent to such party and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornment, within ten (10) business days of Landlord’s request therefor. In the event of attornment, no Lender shall be: (i) liable for any act or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender becoming Landlord under such attornment), (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such Lender, or (iii) obligated to complete any alterations or improvements to be performed by Landlord or Tenant hereunder, or to pay for or otherwise disburse any tenant improvement allowance or other funds towards any alterations or improvements to be performed by Tenant hereunder, or (iv) bound by any future modification of this Lease after the date of the Lender’s Mortgage not consented to by such Lender. Any Lender may elect to to make this Lease prior to the lien of its Mortgage, and if the Lender under any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Upon request of any such Lender or purchaser, including any such request made by reason of the termination of this Lease as a result of such foreclosure or other proceedings, Tenant shall enter into a new lease with such Lender or purchaser on the terms and conditions of this Lease applicable to the remainder of the term hereof. Tenant agrees to give any Lender by certified mail, return receipt requested, or overnight delivery service, a copy of any notice of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of services service on Tenant of a copy of an assignment of leases, or otherwise) of the name and address of such Lender. Tenant further agrees that if Landlord shall have failed to cure such default within the time permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operationsLease, any such lender Lender whose address has been so provided to Tenant shall have an additional period of thirty (30) days in which to cure (or such additional time as may be required due to causes beyond such Lender’s control, including time to obtain possession of the Building by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cureforeclosure). The provisions of this Article shall be self-operative; however, Tenant shall execute such reasonable documentation as Landlord or any Lender may request from time to time in order to confirm the matters set forth in this Article in recordable form. To the extent not expressly prohibited by Law, Tenant waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completed. Notwithstanding the above, concurrently with the parties execution of this Lease, Landlord shall deliver to Tenant a “non-disturbance agreement” in favor of Tenant, executed by Landlord’s current Lender, providing that if Tenant is not in default under this Lease beyond any applicable grace period, such party will recognize this Lease and Tenant’s rights hereunder and will not disturb Tenant’s possession hereunder, and if this Lease is by operation of law terminated in a foreclosure, that a new lease will be entered into on the same terms as this Lease for the remaining term hereof.

Appears in 1 contract

Samples: Hortonworks, Inc.

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease is subject and subordinate to all Mortgages now or hereafter placed upon the PropertyBuilding, and all other encumbrances and matters of public record applicable to the PropertyBuilding, including without limitation, any reciprocal easement or operating agreements, ground or underlying leasescovenants, conditions and restrictions and Tenant shall not act or permit the Premises to be operated in violation thereof and Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premises, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will not disturb Tenant’s right of possession under this Lease if Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice and cure provision(s). Tenant agrees, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estates. If any foreclosure or power of sale proceedings are initiated by any Lender or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, upon written request of any such Lender or any purchaser at such foreclosure sale, to attorn and pay Rent to such party and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornment, within ten (10) business days of Landlord’s request therefor. In the event of attornment, no Lender shall be: (i) liable for any act or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender becoming Landlord under such attornment), ; (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such Lender, ; or (iii) bound by any future modification of this Lease not consented to by such Lender. Any Lender may elect to to make this Lease prior to the lien of its Mortgage, and if the Lender under any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; , and such elections shall be effective upon written notice to Tenant. Tenant agrees to give any Lender by certified mail, return receipt requested, a copy of any notice of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of services service on Tenant of a copy of an assignment of leases, or otherwise) of the name and address of such Lender. Tenant further agrees that if Landlord shall have failed to cure such default within the time permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operationsLease, any such lender Lender whose address has been so provided to Tenant shall have an additional period of thirty (30) days in which to cure (or such additional time as may be required due to causes beyond such Lender’s 's control, including time to obtain possession of the Building by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cureforeclosure). The provisions of this Article shall be self-operative; however, Tenant shall execute such reasonable documentation as Landlord or any Lender may request from time to time in order to confirm the matters set forth in this Article in recordable form. To the extent not expressly prohibited by Law, Tenant waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s 's obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completed.

Appears in 1 contract

Samples: Office Lease (Authoriszor Inc)

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease is subject and subordinate to all Mortgages now or hereafter placed upon the PropertyBuilding, and all other encumbrances and matters of public record applicable to the PropertyBuilding, including without limitation, any reciprocal easement or operating agreements, ground or underlying leasescovenants, conditions and restrictions and Tenant shall not act or permit the Premises to be operated in violation thereof and Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premises, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will not disturb Tenant’s right of possession under this Lease if Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice and cure provision(s). Tenant agrees, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estates. If any foreclosure or power of sale proceedings are initiated by any Lender or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, upon written request of any such Lender or any purchaser at such foreclosure sale, to attorn and pay Rent to such party and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornment, within ten (10) business days of Landlord’s request therefor. In the event of attornment, no Lender shall be: (i) liable for any act or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender becoming Landlord under such attornment), (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such Lender, or (iii) bound by any future modification of this Lease not consented to by such Lender. Any Lender may elect to to make this Lease prior to the lien of its Mortgage, and if the Lender under any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Tenant agrees to give any Lender by certified mail, ; return receipt requested, a copy of any notice of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of services service on Tenant of a copy of an assignment of leases, or otherwise) of the name and address of such Lender. Tenant further agrees that if Landlord shall have failed to cure such default within the time permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operationsLease, any such lender Lender whose address has been so provided to Tenant shall have an additional period of thirty (30) days in which to cure (or such additional time as may be required due to causes beyond such Lender’s 's control, including time to obtain possession of the Building by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cureforeclosure). The provisions of this Article shall be self-operative; however, Tenant shall execute such reasonable documentation as Landlord or any Lender may request from time to time in order to confirm the matters set forth in this Article in recordable form. To the extent not expressly prohibited by Law, Tenant waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s 's obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completed.

Appears in 1 contract

Samples: Suburban Lodges of America Inc

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease is subject and subordinate to (i) all Mortgages now or hereafter placed upon the Property, and (ii) all other encumbrances and matters of public record applicable to the Property, including provided such encumbrances and matters of public record are consistent with and do not interfere in any material respect with the rights of Tenant under this Lease, and further provided that, subject to the remainder of this Article 16 (including, without limitation, any reciprocal easement or operating agreementssubsections (i) — (v) below), ground or underlying leases, and Tenant shall a foreclosing lender agrees not act or permit the Premises to be operated in violation thereof and Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premises, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will not disturb Tenant’s right possession and occupancy of possession the Premises under this Lease if so long as Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice and cure provision(s)Default. Tenant agreesNotwithstanding anything to the contrary contained herein, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease Lease, the rights of Tenant in this Lease, and Tenant’s interest and estate in the Property, to any such MortgagesLandlord’s existing Mortgage is expressly conditioned upon Tenant and the Holder of Landlord’s existing Mortgage, deeds of trustMetropolitan Life Insurance Company (“MetLife”), or leasehold estatesentering into a subordination, non-disturbance and attornment agreement (“SNDA”) on an agreeable form as evidenced by the parties’ signatures thereon. If any foreclosure or power of sale proceedings are initiated by any Lender Holder, in the event of a non-judicial foreclosure, or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, upon written request of any such Lender or any purchaser at such foreclosure sale, agrees to attorn and pay Rent to such party any Holder which is a successor to Landlord hereunder or a purchaser at a foreclosure sale and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornmentattornment (provided such Holder or purchaser shall agree to accept this Lease and not disturb Tenant’s occupancy, so long as Tenant does not default and fail to cure within ten (10) business days of Landlord’s request thereforthe time permitted hereunder). In However, in the event of attornment, no Lender Holder shall be: (i) liable for any act or omission of a prior landlord (including Landlord), or subject to any offsets or defenses which that Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance prior landlord (prior to such Lender becoming Landlord under such attornmentincluding Landlord), (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such Lender, or (iii) bound by any future modification of this Lease not consented to by such Lender. Any Lender may elect to to make this Lease prior except to the lien extent that (A) such act or omission relates to the physical condition of its Mortgagethe Premises and is not personal to Landlord, (B) such act or omission is a non-monetary default under the Lease of which Lender was given prior written notice, (C) such default is continuing after Holder takes legal title to the Premises or the Property, (D) such default is susceptible to cure by Holder, and if the Lender under any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Tenant agrees to give any Lender by certified mail, return receipt requested, (E) Holder is given a copy of any notice of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of services on Tenant of a copy of an assignment of leases, or otherwise) of the name and address of such Lender. Tenant further agrees that if Landlord shall have failed reasonable opportunity to cure such default within after Holder has acquired legal title to the time permitted Landlord for cure under this Lease unless the curing is urgent to TenantProperty; provided, however, that in such event Holder’s business operations, any such lender whose address has been so provided to Tenant shall have an additional period of thirty (30) days in which to cure (or such additional time as may be required due to causes beyond such Lender’s control, including time to obtain possession of the Building by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cure). The provisions of this Article liability shall be self-operative; however, Tenant shall execute such reasonable documentation determined as Landlord or any Lender may request from time to time in order to confirm the matters set forth in this Article in recordable form. To the extent not expressly prohibited by Law, Tenant waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completed.default

Appears in 1 contract

Samples: Office Lease (SP Plus Corp)

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease is subject and subordinate to all Mortgages (as defined in Article 25) now or hereafter placed upon the Property, and to all other encumbrances and matters of public record applicable to the Property. This clause shall be self-operative and no further instrument of subordination shall be required for the benefit of any Holder (as defined in Article 25), including without limitationprovided such Holder, any reciprocal easement purchaser or operating agreements, ground or underlying leases, and Tenant grantee shall not act or permit the Premises to be operated in violation thereof and Landlord shall have the right to cause accept this Lease and agree not to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering disturb Tenant’s occupancy in accordance with the Premises, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon terms and subject to all the terms conditions set forth in this Lease, so long as Tenant does not Default and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant fail to cure within the effect that such Lender or other party will not disturb Tenant’s right of possession under this Lease if Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice and cure provision(s). Tenant agrees, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estatestime permitted hereunder. If any foreclosure proceedings (or power any other enforcement of sale proceedings remedies, such as termination of any ground lease) are initiated or effected by any Lender Holder, or if a deed in lieu is granted (or if any ground lease is terminated)granted, Tenant agrees, upon written request of by any such Lender or Holder, by any purchaser at such foreclosure salesale or by any grantee of a deed in lieu, to attorn and pay Rent to such party or to any person claiming by, through or under such party, and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornment, within ten (10) business days of Landlord’s request therefor. In the event of attornmentany such attornment by Tenant, no Lender Holder, no purchaser at foreclosure sale, no grantee of a deed in lieu, no affiliate of any of the foregoing, and no person claiming by, through or under any of such persons, which shall become the Landlord under the Lease shall be: (i) liable for any act or omission of Landlord, or subject to any offsets offsets, abatements or defenses which Tenant might have against Landlord except for the payment of as explicitly set forth in this Lease, if any outstanding Tenant Work Allowance (prior to such Lender successor becoming Landlord under such attornment)) and except for any unfunded tenant improvement allowance, or subject to exercise of any right of termination which Tenant might have the right to exercise prior to such successor becoming Landlord under such attornment, (ii) liable for any security deposit or bound by any Rent prepaid Rent more than thirty (30) days prior to the date when due not actually received by such Lendersuccessor Landlord, or (iii) bound by any future modification of this Lease entered into after the date of such successor Landlord’s Mortgage (or the date of the Mortgage under which such successor came into title, as applicable) that is not consented to by such Lender. successor Landlord (provided that Tenant has received notice of the name and address of such successor Landlord), excluding any modification explicitly contemplated herein, such as after Tenant’s exercise of any expansion option under Article 40 herein, or (iv) bound by any obligation to perform any work or to make improvements to the Premises, except for (1) repairs, replacements and maintenance pursuant to the express provisions of this Lease the need for which arises after the date such successor became Landlord under the Lease, (2) repairs to the Premises or any part thereof as a result of damage by fire or other casualty pursuant to the express provisions of this Lease, but only to the extent that such repairs reasonably can be made from the net proceeds of any insurance actually made available to such successor Landlord, (3) repairs to the Premises as a result of a partial condemnation pursuant to the express provisions of this Lease, but only to the extent that such repairs reasonably can be made from the net proceeds of any award made available to such successor Landlord and (4) improvements required to be made by Landlord or paid for by Landlord pursuant to the Tenant Improvement Workletter attached hereto as Exhibit E. Any Lender Holder may elect to to make this Lease prior to the lien of its Mortgage, by written notice to Tenant, and if the Lender under Holder of any prior Mortgage so shall requireelect, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Tenant agrees to give deliver to any Lender Holder by certified mail, return receipt requested, a copy of any notice of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of services on delivering to Tenant of a copy of an assignment of leases, or otherwise) of the name and address of such LenderHolder. Tenant further agrees that if Landlord shall have failed to cure such default within the time times permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operationsLease, any such lender Holder whose address has been so provided to Tenant and who has received a notice of default from Tenant shall have an additional period to cure such default of thirty (30) days in which to cure (or such additional time as may be reasonably required under the circumstances to cure such default due to causes beyond such LenderHolder’s control, including time to obtain possession of the Building Property by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cureaction). The provisions Tenant agrees, upon demand of this Article any Holder or any successor Landlord which shall be self-operative; howeverhave come into possession or acquired title to the Premises, as aforesaid, to execute a new lease of the Premises (as tenant) with Lender or such Successor Owner (as landlord) upon the same terms and conditions as the Lease between Tenant and Landlord, which new lease shall cover any unexpired term of the Lease existing at the time of such conveyance of title, in the event the term of the Lease shall terminate upon or prior to the time of such conveyance of title. Tenant shall execute such reasonable documentation documentation, including in recordable form, as Landlord or any Lender Holder may reasonably request from time to time time, in order to confirm the matters set forth in this Article in recordable form. To the extent not expressly prohibited by Law, Tenant waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completedArticle.

Appears in 1 contract

Samples: Office Lease (Huron Consulting Group Inc.)

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease is subject and subordinate to all Mortgages (as defined in Article 25) now or hereafter placed upon the Property, Property and all other encumbrances and matters of public record applicable to the Property, including without limitation, any reciprocal easement or operating agreements, ground or underlying leases, and Tenant shall not act or permit the Premises to be operated in violation thereof and Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premises, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will not disturb Tenant’s right of possession under this Lease if Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice and cure provision(s). Tenant agrees, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estates. If any foreclosure or power of sale proceedings are initiated by any Lender Holder or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, upon written request of any such Lender Holder or any purchaser at such foreclosure sale, to attorn and pay Rent to such party and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornmentattornment (provided such Holder or purchaser shall agree to accept this Lease and not disturb Tenant's occupancy so long as Tenant does not default and fail to cure within the time permitted hereunder). However, within ten (10) business days of Landlord’s request therefor. In in the event of attornment, no Lender Holder shall be: (i) liable for any act or omission of Landlord, Landlord or subject to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender Holder becoming Landlord under such attornment), ; (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such Lender, Holder; or (iii) bound by any future modification of this Lease not consented to by such LenderHolder. Any Lender Holder (as defined in Article 25) may elect to to make this Lease prior to the lien of its Mortgage, by written notice to Tenant, and if the Lender under Holder of any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Tenant agrees to give any Lender Holder by certified mail, return receipt requested, a copy of any notice of default served by Tenant upon Landlord, provided that prior to the serving of such notice Tenant has been notified in writing (by way of services service on Tenant of a copy of an assignment of leases, leases or otherwise) of the name and address of such LenderHolder. Tenant further agrees that that, if Landlord shall have failed to cure such default within the time times permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operationsLease, any such lender Holder whose address has been so provided to Tenant shall have an additional period of thirty (30) days in which to cure (or such additional time as may be required for cure due to causes beyond such Lender’s Holder's control, including but not limited to time needed in order for the Holder to obtain possession of the Building Property by power of sale or judicial action or deed in lieu of foreclosure if required by law action) and Tenant shall not exercise any remedies which may be available to effect Tenant while the Holder has the right to cure any such cure)default. The provisions of this Article shall be self-operative; however, Tenant shall execute such reasonable documentation as Landlord or any Lender may reasonably request from time to time in order to confirm the matters set forth in this Article Article, which documentation shall be in recordable form. To the extent not expressly prohibited form if requested by Law, Tenant waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completedLandlord.

Appears in 1 contract

Samples: Office Lease (Millers Mutual Fire Insurance Co)

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease is subject and subordinate to all Mortgages now or hereafter placed upon the PropertyBuilding, and all other encumbrances and matters of public record applicable to the PropertyBuilding, including without limitation, any reciprocal easement or operating agreements, ground or underlying leases, covenants, conditions and restrictions and Tenant shall not act or permit the Premises to be operated in violation thereof thereof. Landlord represents that, as of the date this Lease is executed by Landlord, Landlord is the fee title owner of the Building and the Building is not encumbered by a mortgage or deed of trust. Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premises, the Building or the Property property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will not disturb Tenant’s right of possession under this Lease if Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice and cure provision(s)Lease. Tenant agrees, within ten business (10) 10 days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estates. If any foreclosure or power of sale proceedings are initiated by any Lender or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, upon written request of any such Lender or any purchaser at such foreclosure sale, to attorn and pay Rent to such party and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornment, within ten (10) business 5 days of Landlord’s request therefor. In the event of attornment, no Lender shall be: (i) liable for any act or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender becoming Landlord under such attornment), (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such Lender, or (iii) bound by any future modification of this Lease not consented to by such Lender. Any Lender may elect to to make this Lease prior to the lien of its Mortgage, and if the Lender under any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Tenant agrees to give any Lender by certified mail, return receipt requested, a copy of any notice of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of services service on Tenant of a copy of an assignment of leases, or otherwise) of the name and address of such Lender. Tenant further agrees that if Landlord shall have failed to cure such default within the time permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operationsLease, any such lender Lender whose address has been so provided to Tenant shall have an additional period of thirty (30) 30 days in which to cure (or such additional time as may be required due to causes beyond such Lender’s control, including time to obtain possession of the Building by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cureforeclosure). The provisions of this Article shall be self-operative; however, Tenant shall execute such reasonable documentation as Landlord or any Lender may request from time to time in order to confirm the matters set forth in this Article in recordable form. To the extent not expressly prohibited by Law, Tenant waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completed.

Appears in 1 contract

Samples: Lease (Medivation, Inc.)

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease is subject and subordinate to all Mortgages now or hereafter placed upon the PropertyBuilding, and all other encumbrances and matters of public record applicable to the PropertyBuilding, including without limitation, any reciprocal easement or operating agreements, ground or underlying leasescovenants, conditions and restrictions and Tenant shall not act or permit the Premises to be operated in violation thereof and Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premises, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will not disturb Tenant’s right of possession under this Lease if Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice and cure provision(s). Tenant agrees, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estates. If any foreclosure or power of sale proceedings are initiated by any Lender or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, upon written request of any such Lender or any purchaser at such foreclosure sale, to attorn and pay Rent to such party and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornment, within ten (10) business days of Landlord’s request therefor. In the event of attornment, no Lender shall be: (i) liable for any act or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender becoming Landlord under such attornment), (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such Lender, or (iii) bound by any future modification of this Lease not consented to by such Lender. Any Lender may elect to to make this Lease prior to the lien of its Mortgage, and if the Lender under any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Tenant agrees to give any Lender by certified mail, return receipt requested, a copy of any notice of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of services service on Tenant of a copy of an assignment of leases, or otherwise) of the name and address of such Lender. Tenant further agrees that if Landlord shall have failed to cure such default within the time permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operationsLease, any such lender Lender whose address has been so provided to Tenant shall have an additional period of thirty (30) days in which to cure (or such additional time as may be required due to causes beyond such Lender’s 's control, including time to obtain possession of the Building by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cureforeclosure). The provisions of this Article shall be self-operative; however, Tenant shall execute such reasonable documentation as Landlord or any Lender may request from time to time in order to confirm the matters set forth in this Article in recordable form. To the extent not expressly prohibited by Law, Tenant waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s 's obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completed. NOTWITHSTANDING ANYTHING IN THIS ARTICLE 17 TO THE CONTRARY, LANDLORD AGREES TO USE GOOD FAITH EFFORTS TO PROCURE A NON-DISTURBANCE AGREEMENT FROM ANY FUTURE FIRST MORTGAGEE OR GROUND LESSOR OF THE BUILDING. TENANT UNDERSTANDS THAT (a) LANDLORD SHALL NOT BE OBLIGATED TO EXPEND ANY FUNDS TO PROCURE SUCH AGREEMENT AND (b) TENANT'S OBLIGATION UNDER THIS LEASE ARE NOT CONDITIONED ON LANDLORD'S OBTAINING SUCH AGREEMENT FROM ANY SUCH MORTGAGEE OR GROUND LESSOR AND TENANT'S SOLE AND EXCLUSIVE REMEDY FOR LANDLORD'S FAILURE TO USE SUCH 13 15 EFFORTS SHALL BE A CLAIM FOR ACTUAL DAMAGES DIRECTLY CAUSED AS A RESULT OF SUCH BREACH (EXCLUDING ANY INDIRECT, CONSEQUENTIAL OR PUNITIVE DAMAGES), WHICH DAMAGES SHALL NOT EXCEED THE AMOUNT OF RENT PAYABLE UNDER THIS LEASE FROM AND AFTER THE DATE OF SAID DEFAULT, AND IN NO EVENT SHALL TENANT BE ENTITLED TO TERMINATE THIS LEASE OR TO ANY ABATEMENT OF RENT AS A RESULT OF SUCH BREACH. SUCH NON-DISTURBANCE AGREEMENT SHALL BE IN SUCH MORTGAGEE'S OR GROUND LESSOR'S CUSTOMARY FORM.

Appears in 1 contract

Samples: Office Lease (Pivotal Corp)

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease is subject and subordinate to all Mortgages (as defined in Article 24) now or hereafter placed upon the Property, and all other encumbrances and matters of public record applicable to the Property, including without limitation, any reciprocal easement or operating agreements, ground or underlying leases, and Tenant shall not act or permit the Premises to be operated in violation thereof and Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premises, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will not disturb Tenant’s right of possession under this Lease if Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice and cure provision(s). Tenant agrees, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estates. If any foreclosure or power of sale proceedings are initiated by any Lender Holder or a deed in lieu is granted (or if any ground lease is terminated)granted, Tenant agrees, upon written request of any such Lender Holder or any purchaser at such foreclosure sale, to attorn and pay Rent to such party and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornmentattornment (provided such Holder or purchaser shall agree to accept this Lease and not disturb Tenant's occupancy, so long as Tenant does not default and fail to cure within ten (10) business days of Landlord’s request thereforthe time permitted hereunder). In However, in the event of attornment, no Lender Holder shall be: (i) be liable for any act or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender Holder becoming Landlord under such attornment), (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such Lender, or (iii) bound by any future modification of this Lease not consented to by such Lender. Any Lender Holder may elect to to make this Lease prior to the lien of its Mortgage, by written notice to Tenant, and if the Lender under Holder of any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Tenant agrees to give any Lender Holder by certified mail, return receipt requested, a copy of any notice of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of services service on Tenant of a copy of an assignment of leases, or otherwise) of the name and address of such LenderHolder. Tenant further agrees that if Landlord shall have failed to cure such default within the time times permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operationsLease, any such lender Holder whose address has been so provided to Tenant shall have an additional period of thirty (30) days in which to cure (or such additional time as may be required due to causes beyond such Lender’s Holder's control, including time to obtain possession of the Building Property by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cureaction). The provisions of this Article shall be self-operative; however, Tenant shall execute such reasonable documentation as Landlord or any Lender may reasonably request from time to time time, in order to confirm the matters set forth in this Article in recordable form. To the extent not expressly prohibited by Law, Tenant waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completed.

Appears in 1 contract

Samples: Lease Agreement (Infocure Corp)

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease is subject and subordinate to all Mortgages now or hereafter placed upon the PropertyBuilding, and all other encumbrances and matters of public record applicable to the PropertyBuilding, including without limitation, any reciprocal easement or operating agreements, ground or underlying leasescovenants, conditions and restrictions and Tenant shall not act or permit the Premises to be operated in violation thereof and Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premises, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will not disturb Tenant’s right of possession under this Lease if Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice and cure provision(s). Tenant agrees, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estates. If any foreclosure or power of sale proceedings are initiated by any Lender or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, upon written request of any such Lender or any purchaser at such foreclosure sale, to attorn and pay Rent to such party and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornment, within ten (10) business days of Landlord’s request therefor. In the event of attornment, no Lender shall be: (i) liable for any act or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender becoming Landlord under such attornment), (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such Lender, or (iii) bound by any future modification of this Lease not consented to by such Lender. Any Lender may elect to to make this Lease prior to the lien of its Mortgage, and if the Lender under any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Tenant agrees to give any Lender by certified mail, return receipt requested, a copy of any notice of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of services service on Tenant of a copy of an assignment of leases, or otherwise) of the name and address of such Lender. Tenant further agrees that if Landlord shall have failed to cure such default within the time permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operationsLease, any such lender Lender whose address has been so provided to Tenant shall have an additional period of thirty (30) days in which to cure (or such additional time as may be required due to causes beyond such Lender’s control, including time to obtain possession of the Building by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cureforeclosure). The provisions of this Article shall be self-operative; provided, however, Tenant shall execute such reasonable documentation as Landlord or any Lender may request from time to time in order to confirm the matters set forth in this Article in recordable form. To the extent not expressly prohibited by Law, Tenant waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completed.

Appears in 1 contract

Samples: Lease (Wilshire Bancorp Inc)

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease is subject and subordinate to all Mortgages (as defined in Article 25) now or hereafter placed upon the Property, and all other encumbrances and matters of public record applicable to the Property, including without limitation, any reciprocal easement or operating agreements, ground or underlying leases, and Tenant shall not act or permit the Premises to be operated in violation thereof and Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premises, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will not disturb Tenant’s right of possession under this Lease if Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice and cure provision(s). Tenant agrees, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estates. If any foreclosure or power of sale proceedings are initiated by any Lender Holder or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, agrees upon written request of any such Lender Holder or any purchaser at such foreclosure sale, to attorn and pay Rent to such party and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornmentattornment (provided such Holder or purchaser shall agree to accept this Lease and not disturb Tenant's occupancy, so long as Tenant does not default and fail to cure within ten (10) business days of Landlord’s request thereforthe time permitted hereunder). In However, in the event of attornment, no Lender Holder shall be: ; (i) liable for any act or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender Holder becoming Landlord under such attornment), (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such LenderHolder, or (iii) bound by any future modification of this Lease not consented to by such LenderHolder. Any Lender Holder (as defined in Article 25) may elect to to make this Lease prior to the lien of its Mortgage, by written notice to Tenant, and if the Lender under Holder of any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Tenant agrees to give any Lender Holder by certified mail, return receipt requested, a copy of any notice of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of services service on Tenant of a copy of an assignment of leases, or otherwise) of the name and address of such LenderHolder. Tenant further agrees that if Landlord shall have failed to cure such default within the time times permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operationsLease, any such lender Holder whose address has been so provided to Tenant shall have an additional period of thirty (30) days in which to cure (or such additional time as may be required due to causes beyond such Lender’s Holder's control, including time to obtain possession of the Building Property by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cureaction). The provisions of this Article shall be self-operative; however, Tenant shall execute such reasonable documentation as Landlord or any Lender may reasonably request from time to time time, in order to confirm the matters set forth in this Article in recordable form. To the extent not expressly prohibited by Law, Tenant waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completed.

Appears in 1 contract

Samples: Office Lease (Southern Community Bancorp)

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease is subject and subordinate to all Mortgages (as defined in Article 26) now or hereafter placed upon the Property, and all other encumbrances and matters of public record applicable to the Property, including without limitation, any reciprocal easement or operating agreements, ground or underlying leases, and Tenant shall not act or permit the Premises to be operated in violation thereof and Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premises, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will not disturb Tenant’s right of possession under this Lease if Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice and cure provision(s). Tenant agrees, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estates. If any foreclosure or power of sale proceedings are initiated by any Lender Holder (as defined in Article 26) or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, upon written request of any such Lender Holder or any purchaser at such foreclosure sale, to attorn and pay Rent to such party and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornmentattainment. However, within ten (10) business days of Landlord’s request therefor. In in the event of attornment, no Lender Holder shall be: (i) liable for any act action or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender Holder becoming Landlord under such attornmentattainment), (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such Lender, Holder or (iii) bound by any future modification of this Lease not consented to by such LenderHolder. Any Lender Holder may elect to to make this Lease prior to the lien of its Mortgage, by written notice to Tenant, and if the Lender under Holder of any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Tenant agrees to give any Lender Holder by certified mail, return receipt requested, a copy of any notice of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of services service on Tenant of a copy of an assignment of leases, or otherwise) of the name and address of such LenderHolder. Tenant further agrees that if Landlord shall have failed to cure such default within the time times permitted by Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operationsLease, any such lender Holder whose address has been so provided to Tenant shall have an additional period of thirty (30) days in which to cure (or such additional time as may be required due to causes beyond such Lender’s Holder's control, including time to obtain possession of the Building Property by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cureaction). The provisions of this Article shall be self-operative; however, Tenant shall execute such reasonable documentation as Landlord or any Lender may reasonably request from time to time in recordable form, in order to confirm the matters set forth in this Article in recordable form. To the extent not expressly prohibited by Law, Tenant waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completedArticle.

Appears in 1 contract

Samples: Office Lease (At Plan Inc)

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Subject to Tenant receiving and executing a satisfactory subordination, nondisturbance and attornment agreement from a proposed Lender ("SNDA"), this Lease is shall be subject and subordinate to all Mortgages now or hereafter placed upon the PropertyBuilding, and all other encumbrances and matters of public record applicable to the PropertyBuilding, including without limitation, any reciprocal easement or operating agreements, ground or underlying leasescovenants, conditions and restrictions and Tenant shall not act or permit the Premises to be operated in violation thereof therefore. Subject to Tenant's receipt and Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premisesexecution of a satisfactory SNDA, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will not disturb Tenant’s right of possession under this Lease if Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice and cure provision(s). Tenant agrees, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estates. If any foreclosure or power of sale proceedings are initiated by any Lender or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, upon written request of any such Lender or any purchaser at such foreclosure sale, to attorn and pay Rent to such party and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornment, within ten (10) business days of Landlord’s request therefor. In the event of attornment, no Lender shall be: (i) liable for any act or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender becoming Landlord under such attornment), (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such Lender, or (iii) bound by any future modification of this Lease not consented to by such LenderLender who becomes Landlord. Any Lender may elect to to make this Lease prior to the lien of its Mortgage, and if the Lender under any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Tenant agrees to give any Lender by certified mail, return receipt requested, a copy of any notice of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of services on Tenant of a copy of an assignment of leases, or otherwise) of the name and address of such Lender. Tenant further agrees that if Landlord shall have failed to cure such default within the time permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operations, any such lender whose address has been so provided to Tenant shall have an additional period of thirty (30) days in which to cure (or such additional time as may be required due to causes beyond such Lender’s control, including time to obtain possession of the Building by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cure). The provisions of this Article shall be self-operative; however, Tenant shall execute such reasonable documentation as Landlord or any Lender may request from time to time in order to confirm the matters set forth in this Article in recordable form. To the extent not expressly prohibited by Law, Tenant waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completed.

Appears in 1 contract

Samples: Mego Mortgage Corp

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease is subject and subordinate to all Mortgages now or hereafter placed upon the Property, and all other encumbrances and matters of public record applicable to the Property, including without limitation, any reciprocal easement or operating agreements, ground or underlying leases, and Tenant shall not act or permit the Premises to be operated in violation thereof and Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premises, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will not disturb Tenant’s 's right of possession under this Lease if Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice and cure provision(s). Tenant agrees, within ten business (10) days after Landlord’s 's written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estates. If any foreclosure or power of sale proceedings are initiated by any Lender or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, upon written request of any such Lender or any purchaser at such foreclosure sale, to attorn and pay Rent to such party and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornment, within ten (10) business days of Landlord’s 's request therefor. In the event of attornment, no Lender shall be: (i) liable for any act or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender becoming Landlord under such attornment), (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such Lender, or (iii) bound by any future modification of this Lease not consented to by such Lender. Any Lender may elect to to make this Lease prior to the lien of its Mortgage, and if the Lender under any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Tenant agrees to give any Lender by certified mail, return receipt requested, a copy of any notice of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of services service on Tenant of a copy of an assignment of leases, or otherwise) of the name and address of such Lender. Tenant further agrees that if Landlord shall have failed to cure such default within the time permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s 's business operations, any such lender Lender whose address has been so provided to Tenant shall have an additional period of thirty (30) days in which to cure (or such additional time as may be required due to causes beyond such Lender’s 's control, including time to obtain possession of the Building by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cure). The provisions of this Article shall be self-operative; however, Tenant shall execute such reasonable documentation as Landlord or any Lender may request from time to time in order to confirm the matters set forth in this Article in recordable form. To the extent not expressly prohibited by Law, Tenant waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s 's obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completed.

Appears in 1 contract

Samples: Alnylam Pharmaceuticals Inc

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease is subject and subordinate to all Mortgages now or hereafter placed upon the PropertyBuilding, and all other encumbrances and matters of public record applicable to the PropertyBuilding, including without limitation, limitation any reciprocal easement or operating agreements, ground or underlying leasescovenants, conditions and restrictions and Tenant shall not knowingly act or permit the Premises to be operated in violation thereof and Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premises, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will not disturb Tenant’s right of possession under this Lease if Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice and cure provision(s). Tenant agrees, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estates. If any foreclosure or power of sale proceedings are initiated by any Lender or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, upon written request of any such Lender or any purchaser at such foreclosure sale, to attorn and pay Rent to such party (provided same agrees to accept such Rent) and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornment, within ten (10) business days of Landlord’s request therefor. In the event of attornment, no Lender shall be: (i) liable for any act or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender becoming Landlord under such attornment), (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such Lender, or (iii) bound by any future modification of this Lease not consented to by such Lender. Any Lender may elect to to make this Lease prior to the lien of its Mortgage, and if the Lender under any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Tenant agrees to give any Lender by certified mail, return receipt requested, a copy of any notice of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of services service on Tenant of a copy of an assignment of leases, or otherwise) of the name and address of such Lender. Tenant further agrees that if Landlord shall have failed to cure such default within the time permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operationsLease, any such lender Lender whose address has been so provided to Tenant shall have an additional period of thirty (30) days in which to cure (or such additional time as may be required due to causes beyond such Lender’s 's control, including time to obtain possession of the Building by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cureforeclosure). The provisions of this Article shall be self-operative; however, Tenant shall execute such reasonable documentation as Landlord or any Lender may reasonable request from time to time in order to confirm the matters set forth in this Article in recordable form. To Landlord represents and warrants that, as of the extent not expressly prohibited by Lawtime of this Lease, Tenant waives there are no mortgages encumbering the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completedBuilding.

Appears in 1 contract

Samples: Office Lease (Sunquest Information Systems Inc)

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease is subject and subordinate to all Mortgages now or hereafter placed upon the PropertyProject (not to exceed a total of two (2) Mortgages in effect at any one time), and all other encumbrances and matters of public record applicable to the PropertyProject, including without limitation, any reciprocal easement or operating agreements, ground or underlying leasescovenants, conditions and restrictions (and Tenant shall not act or permit the Premises to be operated in violation thereof and Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premises, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof); provided, however, Tenant's subordination and attornment to any Mortgage as set forth in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant this Article 14 shall be conditioned upon (a) Lender's agreement to the effect that such Lender or other party will not disturb Tenant’s right of possession under recognize this Lease if and not to disturb Tenant'x xxxsession of the Premises as long as Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice default hereunder and cure provision(s). (b) Landlord obtaining a commercially reasonable subordination, non-disturbance and attornment agreement for Tenant agrees, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estatesfrom Lender. If any foreclosure or power of sale proceedings are initiated by any Lender or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, upon written request of any such Lender or any purchaser at such foreclosure sale, to attorn and pay Rent to such party and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornment, within ten (10) business days of Landlord’s request therefor. In the event of attornment, no Lender shall be: (i) liable for any act or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender becoming Landlord under such attornment), (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such Lender, or (iii) bound by any future modification of this Lease not consented to by such Lender. Any Lender may elect to to make this Lease prior to the lien of its Mortgage, and if the Lender under any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Tenant agrees to give any Lender by certified mail, return receipt requestedrxxxxxxed, a copy of any notice of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of services service on Tenant of a copy of an assignment of leases, or otherwise) of the name and address of such Lender. Tenant further agrees that if Landlord shall have failed to cure such default within the time permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operationsLease, any such lender Lender whose address has been so provided to Tenant shall have an additional period of thirty ten (3010) days in which to cure (or such additional time as may be required due to causes beyond such Lender’s 's control, including time to obtain possession of the Building by power Project xx xxwer of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cureaction). The provisions of this Article shall be self-operative; however, however Tenant shall execute such reasonable documentation as Landlord or any Lender may request from time to time in order to confirm the matters set forth in this Article in recordable form. To the extent not expressly prohibited by Law, Tenant hereby waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s 's obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completed.

Appears in 1 contract

Samples: Sharps Compliance Corp

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SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. Landlord hereby represents and warrants to Tenant that no Mortgage presently encumbers the Property. This Lease is subject and subordinate to all Mortgages now or hereafter placed upon the Property, and all other encumbrances and matters of public record applicable to the Property. Notwithstanding the foregoing, including without limitation, any reciprocal easement or operating agreements, ground or underlying leases, and Tenant such subordination shall not act or permit be effective unless the Premises Holder (as defined below) delivers to be operated in violation thereof and Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premises, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all such cases Tenant a commercially reasonable written agreement that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will not disturb Tenant’s right of possession rights under this Lease if shall not be disturbed by such Holder so long as Tenant has paid all amounts then owing and is otherwise not then or thereafter in breach of any covenant or provision of this Lease default beyond applicable notice and cure provision(s). Tenant agrees, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of periods under this Lease to any such Mortgages, deeds of trust, or leasehold estatesLease. If any foreclosure or power of sale proceedings are initiated by any Lender Holder or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, upon written request of any such Lender or any purchaser at such foreclosure sale, agrees to attorn and pay Rent to such party any Holder which is a successor to Landlord hereunder or a purchaser at a foreclosure sale and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornmentattornment (provided such Holder or purchaser shall agree in writing in any such instrument to accept this Lease and not disturb Tenant's occupancy, so long as Tenant does not default and fail to cure within ten (10) business days of Landlord’s request thereforthe time permitted hereunder). In However, in the event of attornment, no Lender Holder shall be: (i) liable for any act or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender Holder becoming Landlord under such attornment)) except to the extent the same relate to a continuing default under the Lease for which the Holder has been provided notice prior to becoming Landlord, (ii) liable for any security deposit or bound by any prepaid Rent (paid more than one month in advance) not actually received by such LenderHolder, or (iii) bound by be liable for any future modification accrued obligation, act or omission of this Lease not consented to by such Lender. Any Lender may elect to to make this Lease any prior landlord (including, without limitation, Landlord), whether prior to the lien of its Mortgage, and if the Lender under any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Tenant agrees to give any Lender by certified mail, return receipt requested, a copy of any notice of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of services on Tenant of a copy of an assignment of leases, or otherwise) after foreclosure or termination of the name and address of such Lender. Tenant further agrees that if Landlord shall have failed superior lease, as the case may be except to cure such the extent the same relate to a continuing default within the time permitted Landlord for cure under this Lease unless for which the curing is urgent to Tenant’s business operations, any such lender whose address Holder has been so provided notice prior to Tenant shall have an additional period of thirty (30) days in which to cure (or such additional time as may be required due to causes beyond such Lender’s control, including time to obtain possession of the Building by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cure)becoming Landlord. The provisions of this Article shall be self-operative; however, Tenant shall execute such reasonable documentation as Landlord or any Lender may request from time to time in order to confirm the matters set forth in this Article in recordable form. To the extent not expressly prohibited by Law, Tenant waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completed."

Appears in 1 contract

Samples: Lease (Wells Real Estate Fund Xiii L P)

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease is subject and subordinate to all Mortgages (as defined in Article 24) now or hereafter placed upon the PropertyBuilding or the Complex, and all other encumbrances and matters of public record applicable to the Property, including without limitation, any reciprocal easement or operating agreements, ground or underlying leases, and Tenant shall not act or permit the Premises to be operated in violation thereof and Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premises, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will not disturb Tenant’s right of possession under this Lease if Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice and cure provision(s). Tenant agrees, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estatesComplex. If any foreclosure or power of sale proceedings are initiated by any Lender Holder or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, upon written request of any such Lender Holder or any purchaser at such foreclosure sale, to attorn and pay Rent to such party and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornmentattornment (provided such Holder or purchaser shall agree to accept this Lease and not disturb Tenant's occupancy, so long as Tenant does not default and fail to cure within ten (10) business days of Landlord’s request thereforthe time permitted hereunder). In However, in the event of attornment, no Lender Holder shall be: (i) liable for any act or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender Holder becoming Landlord under such attornment), (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such LenderHolder, or (iii) bound by any future modification of this Lease not consented to by such LenderHolder. Any Lender Holder (as defined in Article 24) may elect to to make this Lease prior to the lien of its Mortgage, by written notice to Tenant, and if the Lender under Holder of any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Tenant agrees to give any Lender Holder by certified mail, return receipt requested, a copy of any notice of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of services service on Tenant of a copy of an assignment of leases, or otherwise) of the name and address of such LenderHolder. Tenant further agrees that if Landlord shall have failed to cure such default within the time times permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operationsLease, any such lender Holder whose address has been so provided to Tenant shall have an additional period of thirty (30) days in which to cure (or such additional time as may be required due to causes beyond such Lender’s Holder's control, including time to obtain possession of the Complex or the Building by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cureaction). The provisions of this Article shall be self-operative; however, Tenant shall execute such reasonable documentation as Landlord or any Lender may reasonably request from time to time time, in order to confirm the matters set forth in this Article in recordable form. To the extent not expressly prohibited by Law, Tenant waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completed.

Appears in 1 contract

Samples: Office Lease (C Bridge Internet Solutions Inc)

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease is subject and subordinate to all Mortgages now or hereafter placed upon the PropertyBuilding, and all other encumbrances and matters of public record applicable to the PropertyBuilding, including without limitation, any reciprocal easement or operating agreements, ground or underlying leasescovenants, conditions and restrictions and Tenant shall not act or permit the Premises to be operated in violation thereof and Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premises, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will not disturb Tenant’s right of possession under this Lease if Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice and cure provision(s). Tenant agrees, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estates. If any foreclosure or power of sale proceedings are initiated by any Lender or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, upon written request of if any such Lender or any purchaser at such foreclosure salesale shall acquire and accept the Building subject to this Lease, to attorn and pay Rent to such party and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornment, within ten (10) business days of Landlord’s request therefor. In the event of attornment, no Lender shall be: (i) liable for any act or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender becoming Landlord under such attornment), (ii) liable for any security deposit or bound by any Rent prepaid Rent more than thirty (30) days in advance and not actually received by such Lender, or (iii) bound by any future modification of this Lease not consented to by such Lender. Any Lender may elect to to make this Lease prior to the lien of its Mortgage, and if the Lender under any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Upon request of any such Lender or purchaser, including any such request made by reason of the termination of this Lease as a result of such foreclosure or other proceedings, Tenant shall enter into a new lease with such Lender or purchaser on the terms and conditions of this Lease applicable to the remainder of the term hereof. Tenant agrees to give any Lender by certified mail, return receipt requested, a copy of any notice of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of services service on Tenant of a copy of an assignment of leases, or otherwise) of the name and address of such Lender. Tenant further agrees that if Landlord shall have failed to cure such default within the time permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operationsLease, any such lender Lender whose address has been so provided to Tenant shall have an additional period of thirty (30) days in which to cure (or such additional time as may be required due to causes beyond such Lender’s control, including time to obtain possession of the Building by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cureforeclosure). The provisions of this Article shall be self-operative; however, Tenant shall execute such reasonable documentation as Landlord or any Lender may request from time to time in order to confirm the matters set forth in this Article in recordable form. To the extent not expressly prohibited by Law, Tenant waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completed. Notwithstanding the above, concurrently with the parties execution of this Lease, Landlord shall deliver to Tenant a “non-disturbance agreement” in favor of Tenant, executed by Landlord’s current Lender, providing that if Tenant is not in default under this Lease beyond any applicable grace period, such party will recognize this Lease and Tenant’s rights hereunder and will not disturb Tenant’s possession hereunder, and if this Lease is by operation of law terminated in a foreclosure, that a new lease will be entered into on the same terms as this Lease for the remaining term hereof; provided that if, in order to obtain such non-disturbance agreement Landlord is required to expend any sum, Landlord shall so notify Tenant and Tenant may elect to pay such sum or to withdraw Tenant’s request for such non-disturbance agreement. In no event shall Landlord be required to expend any sums in connection therewith. In addition, and notwithstanding anything to the contrary above, Tenant’s subordination to any future Mortgage shall be conditioned upon Tenant’s receipt of a “non-disturbance agreement” on such future Lender’s commercially reasonable form.

Appears in 1 contract

Samples: Office Lease (Conceptus Inc)

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease Sublease is subject and subordinate to the Master Lease and all Mortgages rights and remedies of Master Landlord thereunder and to all mortgages, deeds of trust, encumbrances and any renewals, modifications, replacements or extensions thereof ("Mortgages") now or hereafter placed upon the Property, Premises and all other encumbrances and matters of public record applicable to the Property, including without limitation, any reciprocal easement or operating agreements, ground or underlying leases, and Tenant shall not act or permit the Premises to be operated in violation thereof and Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premises, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will not disturb Tenant’s right of possession under this Lease if Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice and cure provision(s). Tenant agrees, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease with respect to any such MortgagesMortgage hereafter placed upon the Premises, deeds Subtenant shall subordinate and attorn to the holder of trust, or leasehold estatessuch Mortgage ("Holder") provided such Holder agrees not to disturb Subtenant's possession hereof as long as Subtenant is not in default hereunder and has failed to cure within the time periods provided for herein. If any foreclosure or power of sale proceedings are initiated by any Lender Holder or a deed in lieu is granted (or if any ground lease is terminated), Tenant Subtenant agrees, upon written request of any such Lender Holder or any purchaser at such foreclosure sale, to attorn and pay Rent Subrent to such party and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornmentattornment (provided such Holder or purchaser shall agree to accept this Sublease and not disturb Subtenant's occupancy, so long as Subtenant does not default and fail to cure within ten (10) business days of Landlord’s request thereforthe time permitted hereunder. In However, in the event of attornment, no Lender Holder shall be: (i) liable for any act or omission of LandlordSublandlord, or subject to any offsets or defenses which Tenant Subtenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance Sublandlord (prior to such Lender Holder becoming Landlord Sublandlord under such attornment), (ii) liable for any security deposit or bound by any prepaid Rent Subrent not actually received by such LenderHolder, or (iii) bound by any future modification of this Lease Sublease not consented to by such LenderHolder. Any Lender Holder may elect to to make this Lease Sublease prior to the lien of its Mortgage, by written notice to Subtenant, and if the Lender under Holder of any prior Mortgage shall require, this Lease Sublease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Tenant Subtenant agrees to give any Lender Holder by certified mail, return receipt requested, a copy of any notice of default served by Tenant Subtenant upon LandlordSublandlord, provided that prior to such notice Tenant Subtenant has been notified in writing (by way of services on Tenant of a copy of an assignment of leases, or otherwise) of the name and address of such LenderHolder. Tenant Subtenant further agrees that if Landlord Sublandlord shall have failed to cure such default within the time permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operations, any such lender Holder whose address has been so provided to Tenant Subtenant shall have an additional period of thirty (30) days in which to cure (or such additional time as may be required due to causes beyond such Lender’s Holder's control, including time to obtain possession of the Building Property by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cureaction). The provisions of this Article shall be self-operative; however, Tenant Subtenant shall execute such reasonable documentation as Landlord or any Lender Sublandlord may reasonably request from time to time time, in order to confirm the matters set forth in this Article Section in recordable form. To the extent not expressly prohibited by Law, Tenant waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completed.

Appears in 1 contract

Samples: Sublease Agreement (Community Partners Bancorp)

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease is subject and subordinate to all Mortgages now or hereafter placed upon the PropertyBuilding, and all other encumbrances and matters of public record applicable to the PropertyBuilding, including without limitation, any reciprocal easement or operating agreements, ground or underlying leasescovenants, conditions and restrictions and Tenant shall not act or permit the Premises to be operated in violation thereof and Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premises, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will not disturb Tenant’s right of possession under this Lease if Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice and cure provision(s). Tenant agrees, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estates. If any foreclosure or power of sale proceedings are initiated by any Lender or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, upon written request of if any such Lender or any purchaser at such foreclosure salesale shall acquire and accept the Building subject to this Lease, to attorn attom and pay Rent to such party and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornment, within ten (10) business days of Landlord’s request thereforattomment. In the event of attornmentattomment, no Lender shall be: (i) liable for any act or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender becoming Landlord under such attornmentattomment), (ii) liable for any security deposit or bound by any Rent prepaid Rent more than thirty (30) days in advance and not actually received by such Lender, or (iii) bound by any future modification of this Lease not consented to by such Lender. Any Lender may elect to to make this Lease prior to the lien of its Mortgage, and if the Lender under any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Upon request of any such Lender or purchaser, including any such request made by reason of the termination of this Lease as a result of such foreclosure or other proceedings, Tenant shall enter into a new lease with such Lender or purchaser on the terms and conditions of this Lease applicable to the remainder of the term hereof. Tenant agrees to give any Lender by certified mail, return receipt requested, a copy of any notice of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of services service on Tenant of a copy of an assignment of leases, or otherwise) of the name and address of such Lender. Tenant further agrees that if Landlord shall have failed to cure such default within the time permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operationsLease, any such lender Lender whose address has been so provided to Tenant shall have an additional period of thirty (30) days in which to cure (or such additional time as may be required due to causes beyond such Lender’s 's control, including time to obtain possession of the Building by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cureforeclosure). The provisions of this Article shall be self-operative; however, Tenant shall execute such reasonable documentation as Landlord or any Lender may request from time to time in order to confirm the matters set forth in this Article in recordable form. To the extent not expressly prohibited by Law, Tenant waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s 's obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completed. Notwithstanding the above, concurrently with the parties execution of this Lease, Landlord shall deliver to Tenant a "non-disturbance agreement" in favor of Tenant, executed by Landlord's current Lender, providing that if Tenant is not in default under this Lease beyond any applicable grace period, such party will recognize this Lease and Tenant's rights hereunder and will not disturb Tenant's possession hereunder, and if this Lease is by operation of law terminated in a foreclosure, that a new lease will be entered into on the same terms as this Lease for the remaining term hereof; provided that if, in order to obtain such non-disturbance agreement Landlord is required to expend any sum, Landlord shall so notify Tenant and Tenant may elect to pay such sum or to withdraw Tenant's request for such non-disturbance agreement. Inno event shall Landlord be required to expend any sums in connection therewith. In addition, and notwithstanding anything to the contrary above, Tenant's subordination to any future Mortgage shall be conditioned upon Tenant's receipt of a "non-disturbance agreement" on such future Lender's commercially reasonable form.

Appears in 1 contract

Samples: Sublease (Aerohive Networks, Inc)

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease is subject and subordinate to all Mortgages now or hereafter placed upon the PropertyCenter, and all other encumbrances and matters of public record applicable to the PropertyCenter, including without limitation, any reciprocal easement or operating agreements, ground or underlying leasescovenants, conditions and restrictions (and Tenant shall not act or permit the Premises to be operated in violation thereof and Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premises, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will not disturb Tenant’s right of possession under this Lease if Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice and cure provision(s). Tenant agrees, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estates. If any foreclosure or power of sale proceedings are initiated by any Lender or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, upon written request of any such Lender or any purchaser at such foreclosure sale, to attorn and pay Rent to such party and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornment, within ten (10) business days of Landlord’s request therefor. In the event of attornment, no Lender shall be: (i) liable for any act or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender becoming Landlord under such attornment), (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such Lender, or (iii) bound by any future modification of this Lease not consented to by such Lender. Any Lender may elect to to make this Lease prior to the lien of its Mortgage, and if the Lender under any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Tenant agrees to give any Lender by certified mail, return receipt requested, a copy of any notice of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of services service on Tenant of a copy of an assignment of leases, or otherwise) of the name and address of such Lender. Tenant further agrees that if Landlord shall have failed to cure such default within the time permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operationsLease, any such lender Lender whose address has been so provided to Tenant shall have an additional period of thirty (30) days in which to cure (or such additional time as may be required due to causes beyond such Lender’s 's control, including time to obtain possession of the Building Center by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cureaction). The provisions of this Article shall be self-operative; however, Tenant shall execute such reasonable documentation as Landlord or any Lender may request from time to time in order to confirm the matters set forth in this Article in recordable form. To the extent not expressly prohibited by Law, Tenant waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s 's obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completed.

Appears in 1 contract

Samples: Center Lease

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease is subject and subordinate to all Mortgages (as defined in Article 25) now or hereafter placed upon the Property, and all other encumbrances and matters of public record applicable to the Property, including without limitation, any reciprocal easement or operating agreements, ground or underlying leases, and Tenant shall not act or permit the Premises to be operated in violation thereof and Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premises, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will not disturb Tenant’s right of possession under this Lease if Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice and cure provision(s). Tenant agrees, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estates. If any foreclosure or power of sale proceedings are initiated by any Lender Holder or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, upon written request of any such Lender Holder or any purchaser at such foreclosure sale, to attorn and pay Rent to such party and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornmentattornment (provided such Holder or purchaser shall agree to accept this Lease and not disturb Tenant’s occupancy, so long as Tenant does not default and fail to cure within ten (10) business days of Landlord’s request thereforthe time permitted hereunder). In However, in the event of attornment, no Lender Holder shall be: (i) liable for any act or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender Holder becoming Landlord under such attornment), (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such LenderHolder, or (iii) bound by any future modification of this Lease not consented to by such LenderHolder. Any Lender Holder (as defined in Article 25) may elect to to make this Lease prior to the lien of its Mortgage, by written notice to Tenant, and if the Lender under Holder of any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Tenant agrees to give any Lender Holder by certified mail, return receipt requested, a copy of any notice of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of services service on Tenant of a copy of an assignment of leases, or otherwise) of the name and address of such LenderHolder. Tenant further agrees that if Landlord shall have failed to cure such default within the time times permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operationsLease, any such lender Holder whose address has been so provided to Tenant shall have an additional period of thirty (30) days in which to cure (or such additional time as may be required due to causes beyond such LenderHolder’s control, including time to obtain possession of the Building Property by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cureaction). The provisions of this Article shall be self-operative; however, Tenant shall execute such reasonable documentation as Landlord or any Lender may reasonably request from time to time time, in order to confirm the matters set forth in this Article in recordable form. To the extent not expressly prohibited by Law, Tenant waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completed.

Appears in 1 contract

Samples: Office Lease (NGTV)

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease is subject and subordinate to all Mortgages (as defined in Article 25) now or hereafter placed upon the Property, and all other encumbrances and matters of public record applicable to the Property, including without limitation, any reciprocal easement or operating agreements, ground or underlying leases, and Tenant shall not act or permit the Premises to be operated in violation thereof and Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premises, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will not disturb Tenant’s right of possession under this Lease if Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice and cure provision(s). Tenant agrees, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estates. If any foreclosure or power of sale proceedings are initiated by any Lender Holder or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, upon written request of any such Lender Holder or any purchaser at such foreclosure sale, to attorn and pay Rent to such party and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornmentattornment (provided such Holder or purchaser shall agree to accept this Lease and not disturb Tenant's occupancy, so long as Tenant does not default and fail to cure within ten (10) business days of Landlord’s request thereforthe time permitted hereunder). In However, in the event of attornment, no Lender Holder shall be: (i) liable for any act or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender Holder becoming Landlord under such attornment), (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such LenderHolder, or (iii) bound by any future modification of this this. Lease not consented to by such LenderHolder. Any Lender Holder (as defined in Article 25) may elect to to make this Lease prior to the lien of its Mortgage, by written notice to Tenant, and if the Lender under Holder of any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Tenant agrees to give any Lender Holder by certified mail, return receipt requested, a copy of any notice of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of services service on Tenant of a copy of an assignment of leases, or otherwise) of the name and address of such LenderHolder. Tenant further agrees that if Landlord shall have failed to cure such default within the time times permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operationsLease, any such lender Holder whose address has been so provided to Tenant shall have an additional period of thirty (30) days in which to cure (or such additional time as may be required due to causes beyond such Lender’s Holder's control, including time to obtain possession of the Building Property by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cureaction). The provisions of this Article shall be self-operative; however, Tenant shall execute such reasonable documentation as Landlord or any Lender may reasonably request from time to time time, in order to confirm the matters set forth in this Article in recordable form. To the extent not expressly prohibited by Law, Tenant waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completed.

Appears in 1 contract

Samples: Agreement (National Financial Partners Corp)

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease is subject and subordinate to all Mortgages now or hereafter placed upon the Property, and all other encumbrances and matters of public record applicable to the Property, including without limitation, any reciprocal easement or operating agreements, ground or underlying leases, and Tenant shall not act or permit the Premises to be operated in violation thereof and Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premises, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will not disturb Tenant’s right of possession under this Lease if Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice and cure provision(s). Tenant agrees, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estates. If any foreclosure or power of sale proceedings are initiated by any Lender Holder or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, upon written request of any such Lender Holder or any purchaser at such foreclosure sale, to attorn and pay Rent to such party and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornmentattornment (provided such Holder or purchaser shall agree to accept this Lease and not disturb Tenant's occupancy, so long as Tenant does not default and fail to cure within ten (10) business days of Landlord’s request thereforthe time permitted hereunder). In However, in the event of attornment, no Lender Holder shall be: (i) liable for any act or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender Holder becoming Landlord under such attornment), (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such LenderHolder, or (iii) bound by any future modification of this Lease not consented to by such LenderHolder. Any Lender Holder may elect to to make this Lease prior to the lien of its Mortgage, by written notice to Tenant, and if the Lender under Holder of any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Tenant agrees to give any Lender Holder, by certified mail, return receipt requested, a copy of any notice of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of services service on Tenant of a copy of an assignment of leases, or otherwise) of the name and address of such LenderHolder. Tenant further agrees that if Landlord shall have failed to cure such default within the time times permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operationsLease, any such lender Holder whose address has been so provided to Tenant shall have an additional period of thirty (30) days in which to cure (or such additional time as may be required due to causes beyond such Lender’s Holder's control, including time to obtain possession of the Building Property by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cureaction). The provisions of this Article shall be self-operative; however, Tenant shall execute such reasonable documentation documentation, as Landlord or any Lender may reasonably request from time to time time, in order to confirm the matters set forth in this Article in recordable form. To the extent not expressly prohibited by Law, Tenant waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completed.

Appears in 1 contract

Samples: Office Lease (Unison Software Inc)

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease is subject and subordinate to all Mortgages now or hereafter placed upon the PropertyBuilding, and all other encumbrances and matters of public record applicable to the PropertyBuilding, including without limitation, any reciprocal easement or operating agreements, ground or underlying leasescovenants, conditions and restrictions and Tenant shall not act or permit the Premises to "be operated in violation thereof and Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premises, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will not disturb Tenant’s right of possession under this Lease if Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice and cure provision(s). Tenant agrees, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estates. If any foreclosure or power of sale proceedings are initiated by any Lender or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, upon written request of any such Lender or any purchaser at such foreclosure sale, to attorn and pay Rent to such party and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornment, within ten (10) business days of Landlord’s request therefor. In the event of attornment, no Lender shall be: ; (i) liable for any act or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender becoming Landlord under such attornment), (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such Lender, or (iii) bound by any future modification of this Lease not consented to by such Lender. Any Lender may elect to to make this Lease prior to the lien of its Mortgage, and if the Lender under any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Tenant agrees to give any Lender by certified mail, return receipt requested, a copy of any notice of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of services service on Tenant of a copy of an assignment of leasesofleases, or otherwise) of the name and address of such Lender. Tenant further agrees that if Landlord shall have failed to cure such default within the time permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operationsLease, any such lender Lender whose address has been so provided to Tenant shall have an additional period of thirty (30) days in which to cure (or such additional time as may be required due to causes beyond such Lender’s 's control, including time to obtain possession of the Building by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cureforeclosure). The provisions of this Article shall be self-operative; however, Tenant shall execute such reasonable documentation as Landlord or any Lender may request from time to time in order to confirm the matters set forth in this Article in recordable form. To the extent not expressly prohibited by Law, Tenant waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s 's obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completed.

Appears in 1 contract

Samples: Office Lease (Texen Oil & Gas Inc)

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Subject to the provisions contained herein, this Lease is subject and subordinate to all Mortgages (as defined in Article 24) now or hereafter placed upon the Property, and all other encumbrances and matters of public record applicable to the Property, including without limitation, any reciprocal easement or operating agreements, ground or underlying leases, and Tenant shall not act or permit the Premises to be operated in violation thereof and Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premises, the Building or the Property or any renewalsComplex, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or provided such Mortgage holder shall agree to be made thereunder provide a non-disturbance instrument in customary form by which such Mortgage holder accepts this Lease and without regard to the time or character of such advances, together with interest thereon Tenant’s rights hereunder and subject to all the terms and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will shall not disturb Tenant’s right quiet possession in the event of possession under this Lease if a foreclosure or deed in lieu of foreclosure, so long as Tenant is does not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice default and fail to cure provision(s). Tenant agrees, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estatestime permitted hereunder. If any foreclosure or power of sale proceedings are initiated by any Lender Holder or a deed in lieu is granted (or if any ground lease is terminated)granted, Tenant agrees, upon written request of any such Lender or any purchaser at such foreclosure sale, agrees to attorn and pay Rent to such party any Holder which is a successor to Landlord hereunder or a purchaser at a foreclosure sale and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornment, within ten attornment (10) business days of Landlord’s request therefor. In the event of attornment, no Lender provided such Holder or purchaser shall be: (i) liable for any act or omission of Landlord, or subject agree to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender becoming Landlord under such attornment), (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such Lender, or (iii) bound by any future modification of accept this Lease and not consented disturb Tenant’s occupancy, so long as Tenant does not default and fail to by such Lendercure within the time permitted hereunder). Any Lender Holder may elect to to make this Lease prior to the lien of its Mortgage, by written notice to Tenant, and if the Lender under Holder of any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Tenant agrees to give any Lender by certified mail, return receipt requested, a copy of any notice of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of services on Tenant of a copy of an assignment of leases, or otherwise) of the name and address of such Lender. Tenant further agrees that if Landlord shall have failed to cure such default within the time permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operations, any such lender whose address has been so provided to Tenant shall have an additional period of thirty (30) days in which to cure (or such additional time as may be required due to causes beyond such Lender’s control, including time to obtain possession of the Building by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cure). The provisions of this Article shall be self-operative; however, Tenant shall execute such reasonable documentation as Landlord or any Lender may reasonably request from time to time time, in order to confirm the matters set forth in this Article in recordable form. To the extent not expressly prohibited by LawAs long as any Mortgage is outstanding, Tenant waives agrees that Tenant shall not cancel, surrender, terminate, assign, amend or modify, or enter into any agreement to cancel, surrender, terminate, assign, amend or modify the Lease, without the prior written approval of such holder. A cancellation or surrender of this Lease without the prior written consent of the Holder (except as may be specifically contemplated under this Lease) which is in violation of the foregoing prohibition shall be voidable. In the event of any default on the part of Landlord arising out of or accruing under this Lease, whereby the validity or the continued existence of this Lease might be impaired or terminated by Tenant, or Tenant might have a claim for partial or total eviction or abatement of rent, Tenant shall not pursue any of its rights with respect to such default or claim, and no notice of termination of this Lease as a result of such default shall be effective, unless and until Tenant has given written notice of such default or claim to the applicable Holder simultaneously with its notice to Landlord (provided that Landlord has provided Tenant in writing with the appropriate notice address for such Holder) and granted to such Holder the period of time granted to Landlord under the Lease to cure or to undertake the elimination of the basis for such default or claim; it being expressly understood that such Holder’s right to cure any such default or claim shall not be deemed to create any obligation for such Holder to cure or to undertake the elimination of any such default or claim and will not toll any cure periods provided for under the Lease. Notwithstanding anything to the contrary set forth in this Article 18, Landlord agrees to use commercially reasonable efforts to obtain from the Holder of the current Mortgage on the Complex, a Subordination, Non-Disturbance and Attornment Agreement substantially in the form of Exhibit D attached hereto and made a part hereof (“SNDA”) within thirty (30) days of the execution of this Agreement. If, notwithstanding Landlord’s commercially reasonable efforts to do so, Landlord is unable to obtain the SNDA by September 1, 2008, Tenant, as its sole and exclusive remedy, may terminate this Lease whereupon neither party shall have any further rights or obligations hereunder, provided that (i) Landlord shall promptly return any prepaid Rent and the Security Deposit to Tenant, and (ii) all provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease which expressly survive the expiration or Tenant’s obligations hereunder if such foreclosure or power earlier termination of sale proceedings are initiated, prosecuted or completedthis Lease shall remain in full force and effect in accordance with their respective terms.

Appears in 1 contract

Samples: Workletter Agreement (Medical Connections Holdings, Inc.)

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease is subject and subordinate to all Mortgages now or hereafter placed upon the Property, and all other encumbrances and matters of public record applicable to the Property, including without limitation, any reciprocal easement or operating agreements, ground or underlying leases, and Tenant shall not act or permit the Premises to be operated in violation thereof and Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premises, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will not disturb Tenant’s right of possession under this Lease if Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice and cure provision(s). Tenant agrees, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estates. If any foreclosure or power of sale proceedings are initiated by any Lender Holder or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, upon written request of any such Lender or any purchaser at such foreclosure sale, agrees to attorn and pay Rent to such party any Holder which is a successor to Landlord hereunder or a purchaser at a foreclosure sale and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornmentattornment (provided such Holder or purchaser shall agree to accept this Lease and not disturb Tenant's occupancy, so long as Tenant does not default and fail to cure within ten (10) business days of Landlord’s request thereforthe time permitted hereunder). In However, in the event of attornment, no Lender Holder shall be: (i) liable for any act or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender Holder becoming Landlord under such attornment), (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such LenderHolder, or (iii) bound by any future modification of this Lease not consented to by such LenderHolder, (iv) liable for any accrued obligation, act or omission of any prior landlord (including, without limitation, Landlord), whether prior to or after foreclosure or termination of the superior lease, as the case may be, (v) bound by any covenant to undertake or complete any improvement to the Building or the Premises, or to reimburse or pay Tenant for the cost of any such improvement, (vi) required to perform or provide any services not related to possession or quiet enjoyment of the Premises, or (vii) required to abide by any provisions for the diminution or abatement of Rent, other than the abatement resulting by reason of the Rent Commencement Date being after the TCPE Date. Any Lender Holder may elect to to make this Lease prior to the lien of its Mortgage, by written notice to Tenant, and if the Lender under Holder of any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; . As long as any Mortgage is outstanding, Tenant agrees that Tenant shall not cancel, surrender, terminate, assign, amend or modify, or enter into any agreement to cancel, surrender, terminate, assign, amend or modify the Lease, without the prior written approval of such elections Holder. Any purported cancellation or surrender of this Lease without the prior written consent of the Holder shall be effective upon voidable by the Holder. In the event of any default on the part of Landlord, arising out of or accruing under the Lease, whereby the validity or the continued existence of the Lease might be impaired or terminated by Tenant, or Tenant might have a claim for partial or total eviction or abatement of Rent, Tenant shall not pursue any of its rights with respect to such default or claim, and no notice of termination of the Lease as a result of such default shall be effective, unless and until Tenant has given written notice of such default or claim to Tenant. the applicable Holder (but not later than the time that Tenant agrees to give any Lender by certified mail, return receipt requested, a copy notifies Landlord of any notice of such default served by Tenant upon Landlord, provided that prior or claim) and granted to such notice Tenant has been notified in writing Holder a reasonable time, which shall not be less than the greater of (by way i) the period of services on Tenant of a copy of an assignment of leasestime granted to Landlord under the Lease, or otherwise(ii) of the name and address of such Lender. Tenant further agrees that if Landlord shall have failed to cure such default within the time permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operations, any such lender whose address has been so provided to Tenant shall have an additional period of thirty (30) days in which days, after the giving of such notice by Tenant to such Holder, to cure or to undertake the elimination of the basis for such default or claim, after the time when Landlord shall have become entitled under the Lease to cure the cause of such default or claim; it being expressly understood that (a) if such default or claim cannot reasonably be cured within such cure period, such Holder shall have such additional time as may be required due to causes beyond such Lender’s control, including period of time to obtain possession cure same as Tenant reasonably determines is necessary, so long as it continues to pursue such cure with reasonable diligence, and (b) such Holder's right to cure any such default or claim shall not be deemed to create any obligation for such Holder to cure or to undertake the elimination of the Building by power of sale any such default or judicial action or deed in lieu of foreclosure if required by law to effect such cure)claim. The provisions of this Article shall be self-operative; however, Tenant shall execute such reasonable documentation as Landlord or any Lender may reasonably request from time to time time, in order to confirm the matters set forth in this Article in recordable form. To Landlord agrees to use reasonable commercial efforts to obtain from each such Holder an agreement in the extent not expressly prohibited by Lawform attached hereto as Exhibit D under which the Tenant, Tenant waives so long as it timely pays the Rent and other charges payable hereunder and otherwise timely complies with the terms and provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s obligations hereunder if and agrees to attorn to such Holder in the event such Holder succeeds to the interest of the Landlord in the Building, will not be disturbed in its use and occupancy of the Premises under the terms and conditions of this Lease notwithstanding the foreclosure or power by such Holder of sale proceedings are initiated, prosecuted or completedthe interest of the Landlord.

Appears in 1 contract

Samples: Office Lease (Management Network Group Inc)

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease is subject and subordinate to all Mortgages now or hereafter placed upon the PropertyBuilding, and all other encumbrances and matters of public record applicable to the PropertyBuilding, including without limitation, any reciprocal easement or operating agreements, ground or underlying leases, covenants, conditions and restrictions and Tenant shall not act or permit the Premises to be operated in violation thereof and thereof. Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premises, the Building or the Property property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will not disturb Tenant’s right of possession under this Lease if Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice and cure provision(s)Lease. Tenant agrees, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estates. If any foreclosure or power of sale proceedings are initiated by any Lender or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, upon written request of any such Lender or any purchaser at such foreclosure sale, to attorn and pay Rent to such party and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornment, within ten five (105) business days of Landlord’s request therefor. In the event of attornment, no Lender shall be: (i) liable for any act or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender becoming Landlord under such attornment), (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such Lender, or (iii) bound by any future modification of this Lease not consented to by such Lender. Any Lender may elect to to make this Lease prior to the lien of its Mortgage, and if the Lender under any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Tenant agrees to give any Lender by certified mail, return receipt requested, a copy of any notice of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of services service on Tenant of a copy of an assignment of leases, or otherwise) of the name and address of such Lender. Lender Tenant further agrees that if Landlord shall have failed to cure such default within the time permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operationsLease, any such lender Lender whose address has been so provided to Tenant shall have an additional period of thirty (30) days in which to cure (or such additional time as may be required due to causes beyond such Lender’s control, including time to obtain possession of the Building by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cureforeclosure). The provisions of this Article shall be self-operative; however, Tenant shall execute such reasonable documentation as Landlord or any Lender may request from time to time in order to confirm the matters set forth in this Article in recordable form. form To the extent not expressly prohibited by Law, Tenant waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completed.

Appears in 1 contract

Samples: Office Lease (Medivation, Inc.)

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease is subject and subordinate to all Mortgages (as defined in Article 25) now or hereafter placed upon the Property, and all other encumbrances and matters of public record applicable to the Property, including without limitationprovided, any reciprocal easement or operating agreementsthis Lease shall be subordinate to Mortgages entered after the date of this Lease, ground or underlying leasesonly if the Holders thereof agree to recognize this Lease, and Tenant shall not act or permit the Premises to be operated in violation thereof and Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premises, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will not disturb Tenant’s right of possession under this Lease if 's occupancy hereunder (so long as Tenant is does not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice and cure provision(scommit an uncured Default hereunder). , pursuant to each such Holder's standard nondisturbance agreement, which Tenant agrees, within ten business (10) days after Landlord’s written request therefor, hereby agrees to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estates. If Such nondisturbance agreement shall provide that if any foreclosure or power of sale proceedings are initiated by any Lender Holder or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, upon written request of any such Lender or any purchaser at such foreclosure sale, agrees to attorn and pay Rent to such party provided such Holder or purchaser at a foreclosure sale shall agree to accept this Lease and not disturb Tenant's occupancy, so long as Tenant does not default and fail to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornmentcure within the time permitted hereunder. However, within ten (10) business days of Landlord’s request therefor. In in the event of attornment, no Lender Holder shall be: (i) liable for any act or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender Holder becoming Landlord under such attornment), (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such LenderHolder, or (iii) if required pursuant to the nondisturbance agreement, bound by any future modification of this Lease not consented to by such LenderHolder. Any Lender Holder (as defined in Article 25) may elect to to make this Lease prior to the lien of its Mortgage, by written notice to Tenant, and if the Lender under Holder of any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Tenant agrees to give any Lender by certified mail, return receipt requested, a copy of any notice of default served by Tenant upon Landlord, provided that prior to such any Holder designated by Landlord from time to time by 1888 Century Park East [SCPIE Holdings Lease] 21 notice to Tenant has been notified in writing (by way of services service on Tenant of a copy of an assignment of leases, or otherwise) of the name and address of such LenderHolder. Tenant further agrees that if Landlord shall have failed to cure such default within the time times permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operationsLease, any such lender whose address has been so provided to Tenant Holder shall have an additional period of thirty (30) days in which to cure (or such additional time as may be required due to causes beyond such Lender’s Holder's control, including time to obtain possession of the Building Property by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cureaction). The provisions of this Article shall be self-operative; however, Tenant shall execute such reasonable documentation as Landlord or any Lender may reasonably request from time to time time, in order to confirm the matters set forth in this Article in recordable form. To Concurrently with the extent not expressly prohibited execution and delivery of this Lease by LawLandlord, Landlord shall provide Tenant, at Landlord's sole cost and expense, a Subordination, Non-Disturbance and Attornment Agreement (the "Non-Disturbance Agreement") substantially in the form of Exhibit "B" attached hereto in favor of Tenant waives and duly executed by the provisions lender identified therein, which Non-Disturbance Agreement shall control in the event of any Law now or hereafter adopted which may give or purport to give conflict with the terms and conditions of this Lease. Tenant any right or election to terminate or otherwise adversely affect shall execute such form of Non-Disturbance Agreement when it executes this Lease or Tenant’s obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completed.and submits it to Landlord for execution. 1888 Century Park East [SCPIE Holdings Lease] 22 ARTICLE 20

Appears in 1 contract

Samples: Office Lease (Scpie Holdings Inc)

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease is subject and subordinate to all Mortgages mortgages, deeds of trust, encumbrances and any renewals, modifications, replacements or extensions thereof (“Mortgages”) now or hereafter placed upon the Property, Premises and all other encumbrances and matters of public record applicable to the PropertyProperty (provided Landlord shall cause its current mortgagee, including without limitationif any, any reciprocal easement or operating agreements, ground or underlying leases, and Tenant to execute a standard “SNDA” providing that Tenant’s possession of the Premises shall not act be disturbed following any foreclosure or permit the Premises similar action subject to be operated in violation thereof and Landlord shall have the right to cause Tenant’s performance under this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premisesotherwise as set forth in such SNDA), the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all with respect to any such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Mortgage hereafter placed upon the Premises, Tenant shall subordinate and attorn to the effect that holder of such Lender or other party will Mortgage (“Holder”) provided such Holder agrees to recognize all of Tenant’s rights and remedies hereunder and agrees to not to disturb Tenant’s right of possession under this Lease if hereof as long as Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice default hereunder and has failed to cure provision(s). Tenant agrees, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estatestime periods provided for herein. If any foreclosure or power of sale proceedings are initiated by any Lender Holder or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, upon written request of any such Lender Holder or any purchaser at such foreclosure sale, to attorn and pay Rent rent to such party and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornmentattornment (provided such Holder or purchaser shall agree to accept this Lease and not disturb Tenant’s occupancy, so long as Tenant does not default  and fail to cure within ten (10) business days of Landlord’s request thereforthe time permitted hereunder. In However, in the event of attornment, no Lender Holder shall be: (i) be liable for any act or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender Holder becoming Landlord under such attornment), (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such Lender, or (iii) bound by any future modification of this Lease not consented to by such Lender. Any Lender Holder may elect to to make this Lease prior to the lien of its Mortgage, by written notice to Tenant, and if the Lender under Holder of any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Tenant agrees to give any Lender Holder by certified mail, return receipt requested, a copy of any notice of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of services on Tenant of a copy of an assignment of leases, or otherwise) of the name and address of such LenderHolder. Tenant further agrees that if Landlord shall have failed to cure such default within the time permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operations, any such lender Holder whose address has been so provided to Tenant shall have an additional period of thirty (30) days in which to cure (or such additional time as may be required due to causes beyond such LenderHolder’s control, including time to obtain possession of the Building Property by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cureaction). The provisions of this Article shall be self-operative; however, Tenant shall execute such reasonable documentation as Landlord or any Lender may reasonably request from time to time time, in order to confirm the matters set forth in this Article Section in recordable form. To the extent not expressly prohibited by Law, Tenant waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completed.

Appears in 1 contract

Samples: Lease Agreement (Embassy Bancorp, Inc.)

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease is subject and subordinate to all Mortgages now or hereafter placed upon the PropertyBuilding, and all other encumbrances and matters of public record applicable to the Property, Building including without limitation, any reciprocal easement or operating operating, agreements, ground or underlying leasescovenants, conditions and restrictions and Tenant shall not act or permit the Premises to be operated in violation thereof and Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premises, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Tenant to the effect that such Lender or other party will not disturb Tenant’s right of possession under this Lease if Tenant is not then or thereafter in breach of any covenant or provision of this Lease beyond applicable notice and cure provision(s). Tenant agrees, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estates. If any foreclosure or power of sale proceedings are initiated by any Lender or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, upon written request of any such Lender or any purchaser at such foreclosure sale, to attorn and pay Rent to such party and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornment, within ten (10) business days of Landlord’s request therefor. In the event of attornment, no Lender shall be: (i) liable for any act or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender becoming Landlord under such attornment), (ii) liable for any security deposit not actually received by such Lender or bound by any prepaid Rent not actually received by such Lender, or (iii) bound by any future modification of this Lease amending any material business term hereof,not consented to by such Lender. Any Lender may elect to to make this Lease prior to the lien of its Mortgage, and if the Lender under any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Tenant agrees to give any Lender by certified mail, return receipt requested, a copy of any notice of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing writing, (by way of services service on Tenant of a copy of an assignment of leases, or otherwise) of the name and address of such Lender. Tenant further agrees that if Landlord shall have failed to cure such default within the time permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operationsLease, any such lender Lender whose address has been so provided to Tenant shall have an additional period of thirty (30) days in which to cure (or such additional time as may be required due to causes beyond such Lender’s 's control, including time to obtain possession of the Building Building, by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect so long as Lender diligently pursues such cure). The provisions of this Article shall be self-operative; however, Tenant shall execute such reasonable documentation as Landlord or any Lender may request from time to time in order to confirm the matters set forth in this Article in recordable form. To the extent not expressly prohibited by Law, Tenant waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s 's obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completed.

Appears in 1 contract

Samples: Saville Systems PLC

SUBORDINATION, ATTORNMENT AND MORTGAGEE PROTECTION. This Lease is subject and subordinate to all Mortgages mortgages, deeds of trust, encumbrances and any renewals, modifications, replacements or extensions thereof ("Mortgages") now or hereafter placed upon the Property, Premises and all other encumbrances and matters of public record applicable to the Property, including without limitation, any reciprocal easement or operating agreements, ground or underlying leases, and Tenant shall not act or permit the Premises to be operated in violation thereof and Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all ground or underlying leases or Mortgages which may hereafter be executed covering the Premises, the Building or the Property or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided, however, in all with respect to any such cases that Landlord obtains from any Lender or other party in question a written undertaking in favor of Mortgage hereafter placed upon the Premises, Tenant shall subordinate and attorn to the effect that holder of such Lender or other party will Mortgage ("Holder") provided such Holder agrees not to disturb Tenant’s right of 's possession under this Lease if hereof as long as Tenant is not then or thereafter in breach of default hereunder beyond any covenant or provision of this Lease beyond applicable notice and cure provision(s). Tenant agrees, within ten business (10) days after Landlord’s written request therefor, to execute, acknowledge and deliver upon request any and all reasonable documents or instruments requested by Landlord or necessary or proper to assure the subordination of this Lease to any such Mortgages, deeds of trust, or leasehold estatesperiods provided for herein. If any foreclosure or power of sale proceedings are initiated by any Lender Holder or a deed in lieu is granted (or if any ground lease is terminated), Tenant agrees, upon written request of any such Lender Holder or any purchaser at such foreclosure sale, to attorn and pay Rent to such party and to execute and deliver any instruments necessary or appropriate to evidence or effectuate such attornmentattornment (provided such Holder or purchaser shall agree to accept this Lease and not disturb Tenant's occupancy, so long as Tenant does not default and fail to cure within ten (10) business days of Landlord’s request thereforthe time permitted hereunder. In However, in the event of attornment, no Lender Holder shall be: (i) liable for any act or omission of Landlord, or subject to any offsets or defenses which Tenant might have against Landlord except for the payment of any outstanding Tenant Work Allowance (prior to such Lender Holder becoming Landlord under such attornment), (ii) liable for any security deposit or bound by any prepaid Rent not actually received by such LenderHolder, or (iii) bound by any future modification of this Lease not consented to by such LenderHolder. Any Lender Holder may elect to to make this Lease prior to the lien of its Mortgage, by written notice to Tenant, and if the Lender under Holder of any prior Mortgage shall require, this Lease shall be prior to any subordinate Mortgage; such elections shall be effective upon written notice to Tenant. Tenant agrees to give any Lender Holder by certified mail, return receipt requested, a copy of any notice of default served by Tenant upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of services on Tenant of a copy of an assignment of leases, or otherwise) of the name and address of such LenderHolder. Tenant further agrees that if Landlord shall have failed to cure such default within the time permitted Landlord for cure under this Lease unless the curing is urgent to Tenant’s business operations, any such lender Holder whose address has been so provided to Tenant shall have an additional period of thirty (30) days in which to cure (or such additional time as may be required due to causes beyond such Lender’s Holder's control, including time to obtain possession of the Building Property by power of sale or judicial action or deed in lieu of foreclosure if required by law to effect such cureaction). The provisions of this Article shall be self-operative; however, Tenant shall execute such reasonable documentation as Landlord or any Lender may reasonably request from time to time time, in order to confirm the matters set forth in this Article Section in recordable form. To the extent not expressly prohibited by Law, Tenant waives the provisions of any Law now or hereafter adopted which may give or purport to give Tenant any right or election to terminate or otherwise adversely affect this Lease or Tenant’s obligations hereunder if such foreclosure or power of sale proceedings are initiated, prosecuted or completed.

Appears in 1 contract

Samples: Lease Agreement (1st Colonial Bancorp Inc)

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