Subordination Attornment Non Disturbance. This Lease shall be subject and subordinate to any mortgage, deed of trust or other security devise now or hereafter placed by Lessor upon the real property of which the Premises are a part and to all renewals, modification, consolidations, replacements and extensions thereof ("Security Devises"), provided that Lessee obtains from the holder and beneficiary of any such Security Devise a Non-Disturbance Agreement in form and substance reasonably satisfactory to Lessee. Upon Lessor's written request, Lessee shall within five (5) days, execute, acknowledge and deliver to Lessor a written statement certifying that the Lease is unmodified (or if modified, describing same) and in full force and effect, the date to which rents are paid and setting forth any alleged defaults of Lessor. Said statement may be relied upon by Lessor, its agents, lenders and purchasers. Upon Lessee's written request, Lessor shall within five (5) days, execute, acknowledge and deliver to Lessee a written statement certifying that the Lease is unmodified (or if modified, describing same) and in full force and effect, the date to which rents are paid and setting forth any alleged defaults of Lessee. Said statement may be relied upon by Lessee , its agents, lenders and purchasers. Subject to Lessee's receipt of a Non-Disturbance Agreement, Lessee agrees to attorn to Lender or any other party who acquires ownership of the Premises by reason of a foreclosure of a Security Device, and that in the event of such foreclosure, such new owner shall not be liable for any act of omission of any prior lessor or with respect to events occurring prior to acquisition of ownership, or be subject to any offsets or defenses which Lessee might have against any prior lessor.
Appears in 1 contract
Subordination Attornment Non Disturbance. This 30.1 Provided that Tenant is provided with a subordination, non-disturbance and attornment agreement in a commercially reasonable form which (i) does not modify the economic terms of this Lease (or materially modify any other provision hereof) and (ii) recognizes all of Tenant's prospective and accrued rights under this Lease with respect to (A) the Letters of Credit and any matter relating to Capital Items under this Lease and (B) any default occurring before foreclosure (or delivery of a deed in lieu of foreclosure) (collectively, "Foreclosure Transfer") of a security instrument defined below) which continues after such Foreclosure Transfer ("SNDA") duly executed by the holder of any ground leases, deeds of trust, mortgages security interests (collectively, "Security Instruments") affecting the Premises, this Lease is and shall be subject and subordinate at all times to the security interests evidenced by the Security Instruments. Notwithstanding any mortgageprovision of this Lease to the contrary, deed of trust or other security devise now or hereafter placed by Lessor upon the real property of which (a) Landlord shall not permit any Security Instrument to be recorded against the Premises are a part and or otherwise become prior to all renewalsthe lien of this Lease (without providing to Tenant an SNDA) prior to the earlier of the time of recordation of the Memorandum of this Lease described in Paragraph 25 (provided Tenant causes such Memorandum to be executed in recordable form, modification, consolidations, replacements and extensions thereof by Tenant within ten ("Security Devises"), provided that Lessee obtains from the holder and beneficiary of any 10) business days after Landlord's request if such Security Devise a Non-Disturbance Agreement in form and substance reasonably satisfactory to Lessee. Upon Lessor's written request, Lessee shall within five (5Memorandum was not previously recorded) days, execute, acknowledge and deliver to Lessor a written statement certifying that the Lease is unmodified (or if modified, describing same) and in full force and effect, the date to which rents are paid and setting forth any alleged defaults of Lessor. Said statement may be relied upon by Lessor, its agents, lenders and purchasers. Upon LesseeTenant's written request, Lessor shall within five (5) days, execute, acknowledge and deliver to Lessee a written statement certifying that the Lease is unmodified (or if modified, describing same) and in full force and effect, the date to which rents are paid and setting forth any alleged defaults of Lessee. Said statement may be relied upon by Lessee , its agents, lenders and purchasers. Subject to Lessee's receipt of a Non-Disturbance Agreement, Lessee agrees to attorn to Lender or any other party who acquires ownership occupancy of the Premises by reason for the conduct of a foreclosure of a Security Devicebusiness, and that (b) in the event Landlord shall breach its obligations under clause (a), and Landlord shall not cure such breach (by causing such Security Instrument to be subordinate to this Lease or by providing Tenant an SNDA conforming to the requirements of this Paragraph 30) within thirty (30) days following receipt by Landlord of written notice from Tenant of such foreclosurebreach, without prejudice to its other rights and remedies, Tenant shall have the right to terminate this Lease, exercisable by delivery of written notice to Landlord at any time after such new owner shall not be liable for any act breach and expiration of omission of any prior lessor or with respect to events occurring prior to acquisition of ownership, or be subject to any offsets or defenses which Lessee might have against any prior lessorsuch thirty (30) day period.
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Samples: Factory 2 U Stores Inc
Subordination Attornment Non Disturbance. This Lease shall be subject and subordinate to any mortgage, deed of Lessee's mortgagee's mortgages or deeds of trust and all amendments, renewals or other security devise modifications thereof now or hereafter placed in effect. This subordination shall be shelf-operative and no further certificate or instrument of subordination need be required by Lessor upon the real property of which the Premises are a part and to all renewals, modification, consolidations, replacements and extensions thereof ("Security Devises"), provided that Lessee obtains from the holder and beneficiary of any such Security Devise a Non-Disturbance Agreement in form and substance reasonably satisfactory to Lesseemortgagee. Upon Lessor's written requestIn confirmation of such subordination, however, Lessee shall within five (5) days, execute, acknowledge and deliver to execute promptly any reasonable certificate or instrument that Lessor a written statement certifying that the Lease is unmodified (or if modified, describing same) and in full force and effect, the date to which rents are paid and setting forth any alleged defaults of Lessormortgages may request. Said statement may be relied upon by Lessor, its agents, lenders and purchasers. Upon Lessee hereby constitutes Lessor as Lessee's written request, Lessor shall within five (5) days, execute, acknowledge attorney-in-fact to execute such certificate or instrument for and deliver to one behalf of Lessee a written statement certifying that the Lease is unmodified (or if modified, describing same) and in full force and effect, the date to which rents are paid and setting forth any alleged defaults of Lessee. Said statement may be relied upon by Lessee , its agents, lenders and purchasers. Subject to Lessee's receipt failure to do so within fifteen (15) days of a Non-Disturbance Agreement, Lessee agrees request to attorn to Lender or any other party who acquires ownership of the Premises by reason of a foreclosure of a Security Device, and that in do so. In the event of the enforcement by Lessor's mortgagee of the remedies provided for by law or by such foreclosuremortgage or deed of trust, Lessee will, upon request of any person or party succeeding to the interest of Lessor as a result of such new owner enforcement, automatically become the Lessee of such successor in interest without change in terms or other provisions of such Lease provided, however, that such successor in interest shall not be liable (i) bound by any payment of Rent for any act more than one month in advance except payments in the nature of omission security for the performance by Lessee of any prior lessor or with respect to events occurring prior to acquisition of ownership, or be its obligations under this Lease; (ii) subject to any offsets offset, defense or defenses which damages arising out of a default of any obligations of any preceding Lessor; or (iii) bound by any amendment or modification of this Lease made without the written consent of such trustee or such beneficiary or such successor in interest; and provided, however, that no new successor in interest shall disturb the possession of the Lessee might have against under this Lease so long as the Lessee is not in default of any prior lessorof the terms or provisions contained in the Lease. Upon request by such successor in interest, Lessee shall execute and deliver reasonable instruments confirming the attornment provided for herein. The subordination of interest provided by this paragraph shall not, however, affect or diminish the Lessee's rights under this Lease.
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Samples: Carnegie International Corp
Subordination Attornment Non Disturbance. This Lease shall be subject and subordinate to any mortgage, deed of trust or other security devise now or hereafter placed by Lessor upon the real property of which the Premises are a part and to all renewals, modification, consolidations, replacements and extensions thereof ("Security Devises"), provided that Lessee obtains from the holder and beneficiary of any such Security Devise a Non-Disturbance Agreement in form and substance reasonably satisfactory to Lessee. Upon Lessor's written request, Lessee shall within five (5) days, execute, acknowledge and deliver to Lessor a written statement certifying that the Lease is unmodified (or if modified, describing same) and in full force and effect, the date to which rents are paid and setting forth any alleged defaults of Lessor. Said statement may be relied upon by Lessor, its agents, lenders and purchasers. Upon Lessee's written request, Lessor shall within five (5) days, execute, acknowledge and deliver to Lessee a written statement certifying that the Lease is unmodified (or if modified, describing same) and in full force and effect, the date to which rents are paid and setting forth any alleged defaults of Lessee. Said statement may be relied upon by Lessee Lessee, its agents, lenders and purchasers. Subject to Lessee's receipt of a Non-Disturbance Agreement, Lessee agrees to attorn to Lender or any other party who acquires ownership of the Premises by reason of a foreclosure of a Security Device, and that in the event of such foreclosure, such new owner shall not be liable for any act of omission of any prior lessor or with respect to events occurring prior to acquisition of ownership, or be subject to any offsets or defenses which Lessee might have against any prior lessor.
Appears in 1 contract
Samples: Lease Agreement (Decorize Inc)
Subordination Attornment Non Disturbance. (a) Sub ordination. This Lease shall be subject and subordinate to any ground lease, mortgage, deed of trust trust, or other security devise hypothecation or mortgage (collectively, "Mortgage") now or hereafter placed by Lessor Landlord upon the real property of which Real Property, to any and all advances made on the Premises are a part security thereof and to all renewals, modificationmodifications, consolidations, replacements and extensions thereof ("Security Devises")thereof. Tenant agrees that any person holding any Mortgage shall have no duty, provided that Lessee obtains from liability or obligation to perform any of the holder and beneficiary obligations of any Landlord under this Lease for as long as such Security Devise a Non-Disturbance Agreement in form and substance reasonably satisfactory person does not become an owner of, or entitled to Lessee. Upon Lessor's written request, Lessee shall within five (5) days, execute, acknowledge and deliver to Lessor a written statement certifying that the Lease is unmodified (or if modified, describing same) and in full force and effectcontrol of, the date to which rents are paid and setting forth any alleged defaults of Lessor. Said statement may be relied upon by Lessor, its agents, lenders and purchasers. Upon Lessee's written request, Lessor shall within five (5) days, execute, acknowledge and deliver to Lessee a written statement certifying that Property or the Lease is unmodified (or if modified, describing same) and in full force and effect, the date to which rents are paid and setting forth any alleged defaults of Lessee. Said statement may be relied upon by Lessee , its agents, lenders and purchasers. Subject to Lessee's receipt of a Non-Disturbance Agreement, Lessee agrees to attorn to Lender or any other party who acquires ownership of the Premises by reason of a Corporate Center through foreclosure of a Security Device, and that in such Mortgage. In the event of such foreclosure, such new owner shall not be liable for any act of omission of any prior lessor or Landlord's default with respect to events occurring any such obligation, Tenant will give any Lender, whose name and address have previously in writing been furnished Tenant, notice of a default by Landlord. Tenant may not exercise any remedies for default by Landlord unless and until Landlord and the Lender shall have received written notice of such default and a reasonable time (not less than sixty (60) days) shall thereafter have elapsed without the default having been cured. If any Lender shall elect to have this Lease superior to the lien of its Mortgage and shall give written notice thereof to Tenant, this Lease shall be deemed prior to acquisition such Mortgage. The provisions of ownership, or be subject a Mortgage relating to the disposition of condemnation and insurance proceeds shall prevail over any offsets or defenses which Lessee might have against any prior lessorcontrary provisions contained in this Lease.
Appears in 1 contract
Samples: Industrial Lease (Abgenix Inc)
Subordination Attornment Non Disturbance. This Lease shall be subject and subordinate to all deeds of trust, mortgages, assignments of rents and leases, UCC financing 172 statements and other security agreements that may now or at any mortgagetime hereafter be placed against the Leased Premises, made by Landlord, its predecessors, successors or assigns, to secure money borrowed, and which may now or hereafter affect the Leased Premises, and to any renewals, modifications, consolidations, replacements or extensions thereof Tenant hereby attorneys, in accordance with the terms of this Lease, to the lender in any such deed of trust (the "Lender"), such attornment to be effective upon Lendxx'x xcquisition of title to the Leased Premises; provided, however, that Lendxx xxxees in writing with Tenaxx, xx the time of Lendxx'x xcquisition of title, to recognize the validity of this Lease, notwithstanding any foreclosure or deed in lieu thereof, but this proviso shall be applicable only so long as Tenant is not in default hereunder and only so long as Tenant's right to possession hereunder is not terminated in accordance with the provisions of this Lease. Tenant's attornment shall not be term inated by foreclosure of any such deed of trust or other security devise now by deed in lieu thereof. At the request of Landlord or hereafter placed by Lessor upon the real property Lender, Tenant shall promptly execute any certificate or agreement in confirmation of which the Premises are a part this attornment or any subordination prescribed in this Section, and Tenant appoints Landlord as Tenaxx'x xttorney-in-fact to all renewals, modification, consolidations, replacements and extensions thereof ("Security Devises"), provided that Lessee obtains from the holder and beneficiary of execute any such Security Devise a Non-Disturbance Agreement in form and substance reasonably satisfactory to Lesseecertificates or agreements on behalf of Tenant. Upon Lessor's written request, Lessee shall within five (5) days, execute, acknowledge and deliver to Lessor a written statement certifying that the Lease is unmodified (or if modified, describing same) and in full force and effect, the date to which rents are paid and setting forth any alleged defaults of Lessor. Said statement may be relied upon by Lessor, its agents, lenders and purchasers. Upon Lessee's written request, Lessor shall within five (5) days, execute, acknowledge and deliver to Lessee a written statement certifying that the Lease is unmodified (or if modified, describing same) and in full force and effect, the date to which rents are paid and setting forth any alleged defaults of Lessee. Said statement may be relied upon by Lessee , its agents, lenders and purchasers. Subject to Lessee's receipt of a Non-Disturbance Agreement, Lessee agrees to attorn to Lender or any other party who acquires ownership of the Premises by reason of a foreclosure of a Security Device, and that in In the event of such foreclosureLender's acquisition of title to the Leased Premises, such new owner Lender shall not be responsible or liable for any act of omission of any prior lessor or with respect deposits made by Tenant to events occurring prior Landlord unless such deposits are specifically assigned to acquisition of ownership, or be subject to any offsets or defenses which Lessee might have against any prior lessorLender.
Appears in 1 contract
Samples: Agreement (V Twin Acquisitions Inc)
Subordination Attornment Non Disturbance. This Lease Sublessee agrees that the Sublease shall be subject and subordinate to the lien of any mortgages, deeds of trust or ground leases now or hereafter placed against the Property or Building (as those terms are defined in the Master Lease), and to all renewals and modifications, supplements, consolidations, and extensions thereof. Notwithstanding the foregoing, Lessor reserves the right, to subordinate, or cause to be subordinated, any such mortgage, deed of trust or other security devise now or hereafter placed by Lessor upon ground lease to the real property of which the Premises are a part and to all renewals, modification, consolidations, replacements and extensions thereof ("Security Devises"), provided that Lessee obtains from the holder and beneficiary of any such Security Devise a Non-Disturbance Agreement in form and substance reasonably satisfactory to LesseeSublease. Upon Lessor's written requesta foreclosure or conveyance in lieu of foreclosure under such mortgage or deed of trust, Lessee or a termination of such ground lease, Sublessee shall within five (5) days, execute, acknowledge attorn to and recognize such successor as Lessor under the Master Lease. Sublessee shall execute and deliver to Lessor a written statement certifying that the Lease is unmodified (or if modified, describing same) on request and in full force and effect, the date to which rents are paid and setting forth any alleged defaults of Lessor. Said statement may be relied upon form requested by Lessor, its agentsany instruments reasonably necessary or appropriate to evidence, lenders and purchasers. Upon Lessee's written request, Lessor effect or confirm such subordination provided that such agreement (i) shall within five (5) days, execute, acknowledge and deliver to Lessee a written statement certifying that provide Sublessee’s rights under the Lease is unmodified (or if modified, describing same) and in full force and effect, the date to which rents are paid and setting forth any alleged defaults of Lessee. Said statement may be relied upon by Lessee , its agents, lenders and purchasers. Subject to Lessee's receipt of a Non-Disturbance Agreement, Lessee agrees to attorn to Lender or any other party who acquires ownership of the Premises by reason of a foreclosure of a Security Device, and that in the event of such foreclosure, such new owner Sublease shall not be liable for disturbed so long as Sublessee is not in default under the Sublease beyond applicable notice and cure periods, (ii) shall not materially modify the Sublease in any act respect, (iii) shall not materially increase Sublessee’s obligations or decrease Sublessee’s rights under the Sublease. Should Sublessee fail to sign and return any such documents that comply with this Section or to provide specific written objections to such documents stating in particular how the documents fail to comply with this Sublease within ten (10) days of omission of any prior lessor or with respect request, Sublessee shall be in default. Lessor agrees to events occurring prior make a good faith effort to acquisition of ownership, or be subject to any offsets or defenses which Lessee might have against any prior lessorobtain nondisturbance agreements.
Appears in 1 contract
Samples: Sublease (Eden Bioscience Corp)