Common use of Subordination, Non-Disturbance and Attornment Clause in Contracts

Subordination, Non-Disturbance and Attornment. (A) Lessor reserves the right and privilege to subject and subordinate this Lease at all times to the lien of any mortgage or mortgages now or hereafter placed upon Lessor's interest in the Leased Premises and on the land and buildings of which said Leased Premises are a part, or upon any buildings hereafter placed upon the land of which the Leased Premises are a part, provided such mortgagee shall execute its standard form, commercially reasonable subordination, attornment and non- disturbance agreement, such form to be consistent with other such forms used by commercial mortgagees in the industry, which form shall provide that Lessee shall not be disturbed from its use and possession of the Leased Premises and its other rights as provided in accordance with the terms of this Lease so long as Lessee is not in default hereunder beyond the expiration of applicable grace or cure periods, notwithstanding any foreclosure by such mortgagee of the Leased Premises or any part thereof, or the exercise by such mortgagee of its rights and remedies as to Lessor. Lessor also reserves the right and privilege to subject and subordinate this Lease at all times to any and all advances to be made under such mortgages, and all renewals, modifications, extensions, consolidations, and replacements thereof, provided such mortgagee shall execute its standard form, commercially reasonable subordination, attornment and non-disturbance agreement, such form to be consistent with other such forms used by commercial mortgagees in the industry.

Appears in 4 contracts

Samples: Lease Agreement (Aei Income & Growth Fund 24 LLC), Lease Agreement (Aei Income & Growth Fund Xxii LTD Partnership), Lease Agreement (Aei Income & Growth Fund 24 LLC)

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