Subordination Estoppel Certificate. 8.01. This Lease and all rights of Tenant hereunder are subject and subordinate to all mortgages which may now or hereafter affect Landlord's interest in the Leased Property or any part thereof (all such mortgages, collectively, the "SUPERIOR MORTGAGES"), and to all renewals, modifications, consolidations, replacements and extensions of Superior Mortgages. This Section shall be self-operative and no further instrument of subordination shall be required .In confirmation of such subordination, Tenant agrees to promptly execute and deliver at Tenant's sole cost and expense any instrument (in recordable form, if requested) that Landlord or the holder of any Superior Mortgage (a "SUPERIOR MORTGAGEE") may request to evidence such subordination.
8.02. If the interests of Landlord under this Lease are transferred by reason of, or assigned in lieu of, foreclosure or other proceedings for enforcement of any such Superior Mortgage then Tenant shall, at the option of such purchaser or assignee, as the case may be, (x) attorn to such party and perform for its benefit all the terms, covenants and conditions of this Lease on Tenant's part to be performed with the same force and effect as if such party were the landlord originally named in this Lease, or (y) enter into a new lease with such party, as landlord, for the remaining Term and otherwise on the same terms and conditions of this Lease except that such successor landlord shall not be (i) liable for any previous act, omission or negligence of Landlord under this Lease; (ii) subject to any counterclaim, defense or offset which theretofore shall have accrued to Tenant against Landlord; (iii) bound by any previous modification or amendment of this Lease or by any previous prepayment of more than one month's rent, unless such modification, amendment or prepayment shall have been approved in writing by the Superior Mortgagee through or by reason of which such successor landlord shall have succeeded to the rights of Landlord under this Lease; (iv) obligated to repair the Leased Property or any part thereof in the event of total or substantial damage, beyond such repair as can reasonably be accomplished from the net proceeds of insurance actually made available to such successor landlord; (v) obligated to repair the Leased Property or any part thereof in the event of partial condemnation, beyond such repair as can reasonably be accomplished from the net proceeds of any award actually made available to such successor landlo...
Subordination Estoppel Certificate. Articles 17 and 18 of the Master Lease are incorporated herein by reference, and Sublandlord may request an estoppel certificate or other documents from Subtenant pursuant to the requirements therein.
Subordination Estoppel Certificate. 22 SECTION 13.1
Subordination Estoppel Certificate. Without the necessity of any additional document being executed by Tenant for the purpose of effecting a subordination, and at the election of Landlord or any mortgagee or any beneficiary of a Deed of Trust with a lien on the Project or any ground lessor with respect to the Project, this Lease shall be subject and subordinate at all times to (a) all ground leases or underlying leases which may now exist or hereafter be executed affecting the Project, and (b) the lien of any mortgage or deed of trust which may now exist or hereafter be executed in any amount for which the Project, ground leases or underlying leases, or Landlord's interest or estate in any of said items is specified as security. In the event that any ground lease or underlying lease terminates for any reason or any mortgage or Deed of Trust is foreclosed or a conveyance in lieu of foreclosure is made for any reason, Tenant shall, notwithstanding any subordination, attorn to and become the Tenant of the successor in interest to Landlord, at the option of such successor in interest. Tenant covenants and agrees to execute and deliver, upon demand by Lxxxxxxx and in the form requested by Landlord any additional documents evidencing the priority or subordination of this Lease with respect to any such ground lease or underlying leases or the lien of any such mortgage or Deed of Trust. Tenant hereby irrevocably appoints Landlord as attorney-in-fact of Tenant to execute, deliver and record any such document in the name and on behalf of Txxxxx.
Subordination Estoppel Certificate. (a) The rights granted under this Lease to Tenant are subject and subordinate to any present or future Mortgages (and to any consolidation, modification, renewal, replacement or extension, as applicable, of any Mortgage) of all or any part of the Premises or the Building and to all matters to which such Mortgage may be subordinate.
Subordination Estoppel Certificate. Xxxxxx agrees that this Lease and Xxxxxx’s interest in this Lease shall be secondary to any mortgage, deed of trust or other method of financing or refinancing now existing or hereafter placed on the Premises, the land underlying the Premises and/or the Building of which the Premises is a part and the Property. Xxxxxx further agrees that it will execute and deliver any and all documents necessary to show that Xxxxxx’s rights under this Lease are secondary. Xxxxxx agrees that it will from time to time upon request by Landlord and, within ten (10) days of the date of such request, execute and deliver to such persons as Landlord shall request a certificate provided by Landlord certifying that this Lease is unmodified and in full force and effect (or if there have been modifications, that the same is in full force and effect as so modified), stating the dates to which any rent and other charges payable under this Lease have been paid, and further stating such other factual matters as Landlord shall reasonably require.
Subordination Estoppel Certificate. Xxxxxx agrees that this Lease shall, at all times, be subject and subordinate to the lien of any current or future mortgage, pledge, bond or other financing arrangement that may encumber all or part of the Premises, provided Tenant and any such lender shall execute a mutually-agreeable subordination, non-disturbance, and attornment agreement. Furthermore, within 15 days after written request by either Party, Landlord or Tenant, as applicable, shall execute and deliver, in form reasonably satisfactory to both Parties, a certificate by which such Party acknowledges and confirms the terms of this Lease and/or certifies any facts that are then true with respect to this Lease, including without limitation, that this Lease is in full force and effect.
Subordination Estoppel Certificate. 24 21. Miscellaneous. .................................................................................................................. 25
Subordination Estoppel Certificate. This Lease is and shall be at the option of the holder of indebtedness secured by a first mortgage and on the land and building of which the demised premises fonts a part, be subject and subordinate to any such first mortgage only and to all renewals, modifications, consolidations, replacements and extensions of said first mortgage and although this subordination provision shall be deemed for all purposes to be automatic and effective at the option of the holder of said first mortgage, without any further instrument on the part of the Tenant, Tenant shall execute any instrument requested by the Landlord to confirm such subordination or to effect the superiority of such first mortgage to this Lease should such first mortgage so require. Landlord and Tenant covenant not to subordinate this Lease to any mortgage subordinate to such first mortgage. Tenant shall at any time and from time to time upon not less than ten days prior written notice for Landlord execute, acknowledge and deliver to Landlord statement in writing as to the status of this Lease in form and substance satisfactory to the first mortgage. Tenant's failure to deliver such statement within such time shall be conclusive upon Tenant (i) that this Lease in its full force and effect, without modification except as may be represented by Landlord (ii) that there are not uncured defaults in Landlord's performance and that Tenant has no right to offset, counterclaims or deduction against rent, and (iii) that no more than one month's rent has been paid in advance, nothing contained in this Agreement shall be construed as placing any limitation upon Landlord's right to sell, mortgage, assign or in any manner convey an interest, in part for for in whole of either the Land or the Building, or both.
Subordination Estoppel Certificate. Tenant’s rights shall be subject to any bona fide mortgage or deed to secure debt which is now, or may hereafter be placed upon the Premises by Landlord, and Tenant agrees, at Landlord’s cost, to execute and deliver such documentation as may be reasonably required by any such to effect any subordination. Provided, however, as a condition to such subordination, Landlord must secure from each mortgagee a nondisturbance agreement acceptable to Tenant providing that in the event of a foreclosure the mortgagee will recognize the validity of this Lease and, provided that Tenant is not in default, will not disturb Tenant’s possession or its rights under this Lease. Tenant shall, within ten (10) business days of Landlord’s written request, execute, acknowledge and deliver to Landlord a statement in writing certifying: (i) that this Lease is unmodified and in full force and effect (or if there has been any modification hereof that the same is in full force and effect as modified and stating the nature of the modification or modifications); (ii) that to the best of its knowledge, Landlord is not in default under this Lease (or if any such default exists the specific nature and extent thereof); and (iii) the date to which rent and other charges have been paid in advance, if any; and (iv) any other information regarding this Lease or Tenant’s occupancy as required by an Estoppel Certificate.
