Subordination Estoppel. A. This Lease is subject and subordinate to all mortgages, deeds of trust and related security instruments which may now or hereafter encumber the Project and to all renewals, modifications, consolidations, replacements and extensions thereof and to each advance made or hereafter to be made thereunder. This subordination shall be self-operative and no further instrument of subordination is required. In confirmation of such subordination, however, Tenant shall, at Landlord’s request, certify in writing as to such subordination; provided that such subordination is subject to delivery of a non-disturbance agreement reasonably acceptable to the Tenant, Landlord, and any mortgagee (or its successors or assigns). If any mortgagee (or its successors or assigns), or any other person or entity, shall succeed to the rights of Landlord under this Lease, whether through possession or foreclosure action or delivery of a new ground lease or deed, then at the request of such party so succeeding to Landlord’s rights (“Successor Landlord”), Tenant shall attorn to and recognize Successor Landlord as Tenant’s Landlord under this Lease, and such successor Landlord shall provide a non-disturbance agreement to Tenant, and Tenant shall promptly execute and deliver a subordination, non-disturbance and attornment agreement as Successor Landlord may reasonably request. Upon such attornment this Lease shall continue in full force and effect as, or as if it were, a direct lease between Successor Landlord and Tenant upon all of the terms, conditions and covenants hereof. The parties shall negotiate in good faith to expeditiously deliver such subordination, non-disturbance and attornment agreement within thirty (30) days of request therefor.
Subordination Estoppel. 22.1 Lessor and Lessee agree that this Lease and the Purchase Option are superior to and have priority over, and Lessee’s obligations hereunder are contingent upon this Lease and the Purchase Option being superior to and having priority over, all mortgages, deeds of trust and any and all other forms or manner of financing liens in any amount, and all advances thereon, and all renewals, modifications, consolidations, replacements and extensions thereof (each a “Mortgage” and collectively “Mortgages”) which are entered into subsequent to the date of this Lease.
Subordination Estoppel. 41 21.1 Subordination and Attornment........................................... 41 21.2 Assignment........................................................................ 42 21.3 Conditions for Tenant’s Termination.................................. 42 21.4 Estoppel Certificates.......................................................... 42 22. SIGNS AND ADVERTISING ........................................................... 42 23. RIGHTS RESERVED TO LANDLORD............................................ 43
Subordination Estoppel. Section 21.01. This Lease will be subject and subordinate to any mortgage of the Premises now existing or hereafter executed by Landlord or its successors and assigns. Such subordination is automatic and is effective without any further act of Tenant, but Tenant hereby agrees from time to time on request from Landlord to execute and deliver any instruments that may be required by any lender to confirm the subordination provided for herein. Any mortgagee may elect that this Lease shall have priority over its mortgage, and upon notification of such election by such mortgagee to Tenant, this Lease shall be deemed to have priority over such mortgage whether this Lease is dated prior to or subsequent to the date of such mortgage. Tenant hereby appoints Landlord, with full power of substitution, as Tenant's attorney-in-fact (which appointment shall be irrevocable and shall be deemed to be coupled with an interest) to execute and deliver any such instrument for and in the name of Tenant.
Subordination Estoppel. 27.01. On Landlord's demand, Tenant shall subordinate its rights hereunder to the lien of any mortgages, deed(s) of trust, ground lease(s) or any other method of financing or refinancing now or hereafter placed against all or any part of the facility including all advances made or to be made thereunder, and all renewals, replacements, consolidations and extensions thereof, if Landlord first obtains from any prospective lender a written agreement that provides substantially the following: "As long as Tenant performs its obligations under this lease, no foreclosure of, deed given in lieu of foreclosure of, or sale under, the encumbrance, and no steps or procedures taken under the encumbrance, shall affect Tenant's rights under this lease. The provisions of this lease concerning the disposition of insurance proceeds on destruction of the premises, and the provisions concerning the disposition of any condemnation award, shall prevail over any conflicting provisions in the encumbrance."
Subordination Estoppel. This Lease is and shall be subordinate to any encumbrance now of record or recorded after the date of this Lease affecting the Premises, and land of which the Premises is a part. Such subordination is effective without any further act of Tenant. Tenant shall from time to time on request from Landlord execute and deliver any documents or instruments that may be required by a lender to effectuate any subordination. If Tenant fails to execute and deliver any such documents or instruments, Tenant irrevocably constitutes and appoints Landlord as Tenant's special attorney-in-fact to execute and deliver any such documents or instruments.
Subordination Estoppel a. This Sub-lease and all rights under the sub-lease are subject and subordinate to any lien of mortgage on the property. However, at the sole and absolute election of a mortgage holder, this sub-lease and Tenant’s rights under it shall be superior and prior in right to that mortgage-holder’s lien with the same force and effect as if this Sub-lease had been made and delivered prior to the mortgage. Tenant hereby, without claim for Landlord defaults prior to exercise of rights under any mortgage, attorns to (agrees to remain a tenant of) and will treat as new landlord (i) a holder of a mortgage who becomes (a) mortgagee in possession or (b) owner of the property by deed, foreclosure or otherwise and (ii) a Mortgage holder’s successors and assigns by assignment or foreclosure of lien or otherwise. This subordination and attornment are self- operative and without need of further instrument or action to have effect, but Tenant shall provide such further written assurances thereof as Landlord may from time to time request. For all purposes of this sub-lease the word “mortgage” means any mortgage made before the date of this Sub-lease or later, and all renewals, extensions and replacements of a mortgage.
Subordination Estoppel. Upon request from the Landlord, Tenant agrees to subordinate in writing its rights hereunder to the lien of any Deed of Trust or mortgage now or hereafter in force or to be placed against the Premises. Tenant also agrees to sign estoppel certificates when requested by Landlord, its Agent or lender which verifies this lease is in effect. Notwithstanding anything stated herein, the provisions of this paragraph shall be self executing, at Landlord’s option if Tenant fails to sign the documents within five (5) days of request. ARTICLE XXII:
Subordination Estoppel. This Lease shall not be subject to or ---------------------- subordinate to any ground or underlying lease or to any lien, mortgage, deed of trust, or security interest now or hereafter affecting the Premises, nor shall Tenant be required to execute any documents subordinating this Lease, unless the ground Lessor, lender, or other holder of the interest to which this Lease shall be subordinated contemporaneously executes a recognition and nondisturbance agreement which (i) provides that this Lease shall not be terminated so long as Tenant is not in default under this Lease and (ii) recognizes all of Tenant's rights hereunder. Further, Tenant shall have no obligation to attorn to any successor-in-interest or ground lessor, nor to execute any documents evidencing attornment, unless the successor-in-interest or ground lessor in question assumes, in writing, all obligations of the Landlord under this Lease. If Landlord sells or otherwise conveys its interest in the Premises, Landlord shall not be relieved of its obligations under the Lease accruing from and after the effective date of such transfer, unless and until the successor assumes in writing the obligations to be performed by Landlord on and after the effective date of the transfer. Each party shall, within ten (10) days after notice from the other, execute and deliver to the other, in recordable form, a certificate stating that the Lease is unmodified and in full force and effect, or in full force and effect as modified and stating the modifications. The certificate shall also state the amount of minimum monthly rent, the date to which rent has been paid in advance, and the amount of any security deposit or prepaid rent.
Subordination Estoppel. (a) This Lease is subject and subordinate to any mortgage or deed of trust that may now or hereafter encumber the Property, and to all renewals, modifications, consolidations, replacements and extensions thereof. Although not a condition precedent to the effectiveness of this Section, Tenant, upon request from Landlord shall execute and deliver documentation evidencing that this Lease is in fact subordinate to any specific mortgage or deed of trust which might hereafter encumber the Property.
