Common use of SUBORDINATION; ESTOPPEL CERTIFICATES Clause in Contracts

SUBORDINATION; ESTOPPEL CERTIFICATES. This Lease is subject and subordinate to all ground or underlying leases and to all mortgages which may now or hereafter affect the real property of which the leased premises form a part or Landlord’s leasehold interest therein, and to all renewals, modifications, consolidations, replacements and extensions. This clause shall be self-operative and no further instrument of subordination shall be required. In confirmation of such subordination, Tenant shall execute promptly any certificate that Landlord may request. Tenant hereby constitutes and appoints Landlord the Tenant’s attorney-in-fact to execute any such certificate or certificates for and on behalf of Tenant. Tenant shall, at any time and from time to time upon not less than ten (10) days prior written notice from Landlord, execute, acknowledge and deliver to Landlord a statement in form reasonably required by Landlord, (i) certifying that this Lease is unmodified and in full force and effect (or, if modified, stating the nature of such modification and certifying that this Lease as so modified is in full force and effect) and the dates to which the rental and other charges are paid in advance, if any; (ii) acknowledging that there are not, to Tenant’s knowledge, any uncured defaults on the part of Landlord hereunder, or specifying such defaults if any as are claimed; and (iii) any other certification reasonably required by any mortgagee, including agreements of no set-off and release of liability as to such mortgagee and its successors. Any such statement may be relied upon by any prospective purchaser or mortgagee of all or any portion of the real property of which the leased premises are a part. Tenant’s failure to deliver such statement within such time shall be conclusive upon Tenant (i) that this Lease is in full force and effect, without modification except as may be represented by Landlord, (ii) that there are no uncured defaults in Landlord’s performance, and (iii) that not more than one month’s rental has been paid in advance.

SUBORDINATION; ESTOPPEL CERTIFICATES. This Tenant agrees that this Lease is and shall remain subject and subordinate to all ground present and future mortgages or underlying leases and to other security instruments, including all mortgages which may now or hereafter affect the real property of which the leased premises form a part or Landlord’s leasehold interest thereinadvances, and to all renewalsamendments, modifications, consolidationsrenewals, replacements consolidations and extensionsextensions thereof (the "SECURITY DEEDS") affecting the Building or the Premises. This clause The terms of this provision shall be self-operative and no further instrument of or subordination shall be required. In confirmation Tenant, however, upon request of any party in interest shall, within twenty (20) days after written request, execute and deliver to such subordination, Tenant shall execute promptly any certificate that Landlord may request. Tenant hereby constitutes and appoints Landlord the Tenant’s attorney-in-fact to execute any interested party such certificate or certificates for and on behalf in writing as may be requested, showing the subordination of Tenantthe Lease to such Security Deeds. In addition, Tenant shall, within twenty (20) days after written request, at any time and from time to time upon not less than ten (10) days prior written notice from Landlord, execute, acknowledge and deliver to Landlord a written statement in form reasonably required by addressed to Landlord, any mortgagee or assignee of Landlord's interest in, or purchaser of, the Building or any portion thereof, certifying as follows: (i) certifying that this Lease is unmodified and in full force and effect (oror if there has been modification thereof, if modified, stating that the nature of such modification and certifying that this Lease as so modified same is in full force and effecteffect as modified and stating the nature thereof); (ii) that to the best of its knowledge there are no uncured defaults on the part of Landlord (or if any such default exists, the specific nature and extent thereof); (iii) that there are no defenses or offsets against the dates enforcement of the Lease (or stating those claimed by Tenant); (iv) the date to which the rental any rents and other charges are have been paid in advance, if any; (ii) acknowledging that there are not, to Tenant’s knowledge, any uncured defaults on the part of Landlord hereunder, or specifying such defaults if any as are claimed; and (iiiv) any such other certification reasonably required by any matters as Landlord or such mortgagee, including agreements of no set-off and release of liability as to such mortgagee and its successorsassignee or purchaser may reasonably request. Any such certificate or statement shall, at Landlord's request, be in recordable form and be recorded in the public records, and may be relied upon by Landlord, any prospective mortgagee, proposed mortgagee, assignee, purchaser and any other party to whom such certificate or mortgagee of all or any portion of the real property of which the leased premises are a partstatement is addressed. Tenant’s 's failure to deliver execute such certificate or statement within such time twenty (20) days after written request shall constitute an immediate default by Tenant hereunder, without the requirement of any further notice, grace period or cure period unless Tenant delivers said certificate or statement to Landlord within ten (10) days after said twenty (20) day period expires. Notwithstanding anything to the contrary, this Lease shall not be conclusive upon subordinate to any Security Deeds unless the mortgagee or beneficiary thereof shall deliver to Tenant (i) a non-disturbance agreement in recordable form agreeing that this Lease shall not be modified or terminated so long as Tenant is not in full force and effect, without modification except as may be represented by Landlord, (ii) that there are no uncured defaults in Landlord’s performance, and (iii) that not more than one month’s rental has been paid in advancedefault under the terms of this Lease beyond any cure period following notice provided herein.

SUBORDINATION; ESTOPPEL CERTIFICATES. 20.01 This Lease is and the rights of Tenant hereunder shall automatically and without further action by Landlord or Tenant be subject and subordinate at all times to all ground the lien of any mortgage or underlying leases and to all mortgages which may now or hereafter affect hereinafter placed upon Landlord's interest in the real property Premises and on the Land and Building of which the leased premises form Premises are a part or upon any building hereafter placed upon the Land of which the Premises form a part; subject to the agreement of the mortgagee that in the event of foreclosure or the assertion of any other rights under the mortgage, this Lease and the rights of Tenant hereunder shall continue in effect and shall not be terminated or disturbed so long as Tenant continues to perform and is not in default under this Lease. Tenant covenants and agrees to execute and deliver, within five (5) business days after requested by Landlord’s leasehold interest therein, and such further instrument or instruments subordinating this Lease to all renewals, modifications, consolidations, replacements and extensions. This clause the lien of any such mortgage or mortgagees as shall be self-operative desired by the Landlord and no further instrument of subordination shall be required. In confirmation of any mortgagees or proposed mortgagees and if Tenant fails to execute and deliver the same within such subordinationfive (5) business days period, Tenant shall execute promptly any certificate that Landlord may request. Tenant hereby constitutes and irrevocably appoints the Landlord the Tenant’s attorney-in-fact of the Tenant to execute and deliver any such certificate instrument or certificates instruments for and on behalf in the name of Tenant. Tenant shallIn the event said mortgagee(s) shall not accept any instrument or instruments executed by Landlord pursuant to the power of attorney contained herein, Landlord, at any time and from time its option, may declare Tenant's failure to time upon not less than ten (10) days prior written notice from Landlord, execute, acknowledge execute and deliver said instruments a default in the performance of the Lease and may proceed to enforce any and all remedies accruing to Landlord upon a statement in form reasonably required default by Landlord, (i) certifying that this Lease is unmodified and in full force and effect (or, if modified, stating the nature of such modification and certifying that this Lease as so modified is in full force and effect) and the dates to which the rental and other charges are paid in advance, if any; (ii) acknowledging that there are not, to Tenant’s knowledge, any uncured defaults on the part of Landlord Tenant hereunder, or specifying such defaults if any as are claimed; and (iii) any other certification reasonably required by any mortgagee, including agreements of no set-off and release of liability as to such mortgagee and its successors. Any such statement may be relied upon by any prospective purchaser or mortgagee of all or any portion of the real property of which the leased premises are a part. Tenant’s failure to deliver such statement within such time shall be conclusive upon Tenant (i) that this Lease is in full force and effect, without modification except as may be represented by Landlord, (ii) that there are no uncured defaults in Landlord’s performance, and (iii) that not more than one month’s rental has been paid in advance.