Subordination; Nondisturbance. A. Tenant covenants and agrees with Landlord that this Lease Agreement is subject and subordinate to any mortgage, deed of trust, ground lease and/or security agreement which may now or hereafter encumber the Leased Premises or any interest of Landlord therein, and to any advances made on the security thereof and to any and all increases, renewals, modifications, consolidations, replacements and extensions thereof. This clause shall be self-operative and no further instrument of subordination need be required by any owner or holder of any such ground lease, mortgage, deed of trust or security agreement. In confirmation of such subordination, however, at Landlord’s request, Tenant shall execute promptly any appropriate certificate or instrument that Landlord may request. In the event of the enforcement by the ground lessor, the trustee, the beneficiary or the secured party under any such ground lease, mortgage, deed of trust or security agreement of the remedies provided for by Laws or by such ground lease, mortgage, deed of trust or security agreement, Tenant, upon request of the ground lessor or any person or party succeeding to the interest of Landlord as a result of such enforcement, will automatically become the Tenant of such ground lessor or successor in interest without any change in the terms or other provisions of this Lease Agreement; provided, however, that the obligations of such ground lessor or successor in interest shall be as set forth in a subordination, nondisturbance and attornment agreement delivered pursuant to Section 24.C or 24.D below and in no event shall such ground lessor or successor in interest be (a) bound by any payment of Rent for more than one month in advance except prepayments in the nature of security for the performance by Tenant of its obligations under this Lease Agreement, unless received by such ground lessor or successor, (b) bound by any amendment or modification of this Lease Agreement made without the written consent of such ground lessor or such successor in interest (c) liable for any previous act or omission of the Landlord unless such ground lessor or successor in interest, after acquiring succeeding to the interest of Landlord under this Lease Agreement, shall fail to cure any default by Landlord within the time periods set forth in this section, (d) subject to any credit, demand, claim, counterclaim, offset or defense which theretofore accrued to Tenant against the Landlord, unless such ground lessor or su...
Subordination; Nondisturbance. A. Upon Landlord’s written request, Tenant will execute and deliver to Landlord an agreement in recordable form subordinating Tenant’s rights to the lien of any mortgage hereafter encumbering the Premises. Tenant, however, will not be required to subordinate Tenant’s rights hereunder to any mortgage unless and until the holder of such mortgage executes and delivers to Tenant a written agreement providing in substance (i) that so long as Tenant faithfully discharges Tenant’s obligations under this Lease, Tenant’s right of possession to the Premises and other rights under this Lease will not be affected by any default by Landlord under any instrument creating or secured by such mortgage, and (ii) that in the event of foreclosure or any other enforcement of such mortgage, the rights of Tenant hereunder will expressly survive and this Lease will continue in full force and effect. If any mortgage, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Tenant, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
Subordination; Nondisturbance. AND ATTORNMENT AGREEMENT This instrument was drafted by and after recording return to: [Lender] Attention: (SPACE ABOVE THIS LINE FOR RECORDER’S USE) SUBORDINATION, NON-DISTURBANCE AND ATTORNMENT AGREEMENT THIS SUBORDINATION, NON-DISTURBANCE, AND ATTORNMENT AGREEMENT is made and entered into as of the day of , 2011, by and between [ , a ], having an address at [ ] North Xxxx Avenue, Suite [ ], Sunnyvale, California 94085 (herein, together with its successors and assigns, referred to as “Tenant”) and [ , a ], having an address at [ ] (herein, together with its successors and assigns, referred to as “Lender”).
Subordination; Nondisturbance. The rights of Tenant under this Lease are and shall be, at the option of Landlord or the mortgagee, beneficiary or master or ground lessor under the following instruments, either subordinate or superior to any mortgage or deed of trust (including a consolidated mortgage or deed of trust) constituting a lien on the Premises, Building or Project, or on any part thereof or Landlord's interest therein and to any ground or master lease if Landlord's title to the Premises or any part thereof is or shall become a leasehold interest, whether such mortgage, deed of trust, ground or master lease is placed on the Premises, Building or Project before or after the date of this Lease; provided however that notwithstanding any such subordination, Tenant's right to occupy the Premises pursuant to this Lease shall remain in effect for the full Term as long as Tenant is not in default hereunder. To further assure the foregoing subordination or superiority, Tenant shall, upon Landlord's request, together with the request of any mortgagee under a mortgage or beneficiary under a deed of trust or ground or master lessor, execute any instrument (including without limitation an amendment to this Lease that does not materially and adversely affect Tenant's rights or duties under this Lease), or instruments intended to subordinate this Lease (subject to Tenant's non-disturbance rights, or at the option of Landlord, to make it superior to any mortgage, deed of trust, or ground or master lease.
Subordination; Nondisturbance. This Lease is and shall be subject and subordinate to the lien and mortgage securing the Mortgage Loan and to any and all renewals, modifications, consolidations, replacements and extensions thereof, on the condition that each holder of an interest in any mortgage or other lien shall have delivered to Lessee a written nondisturbance agreement providing that, so long as Lessee is in compliance with Lessee’s obligations under this Lease, such party agrees (a) to recognize Lessee's rights, tenancy and occupancy under this Lease, and (b) not to disturb Lessee's occupancy of the Leased Premises, notwithstanding any termination of any such lease or foreclosure of any such mortgage. This paragraph shall be self-operative and no further instrument of subordination shall be required by any mortgagee, but in confirmation of such subordination, Lessee shall execute within fifteen (15) days after being so requested, any certificate that Lessor may reasonably require, acknowledging such subordination.
Subordination; Nondisturbance. This Lease, at Landlord's option and subject to Landlord's proposed form, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation for security now or hereafter placed upon the Building and to any and all advances made on the security thereof and to all renewals, modification, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Tenant's right to quiet possession of the Premises shall not be disturbed if Tenant is not in default and so long as Tenant shall pay the rent and observe and perform all of the provisions of the Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed or trust or ground lease, and shall be deemed prior to such mortgage deed of trust or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof, Tenant agrees to execute any reasonable documents required (in the form substantially similar to the sample documents attached hereto as Exhibits C & D) to effectuate such subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, so long as Landlord is not in material default and such mortgagee, trustee or ground lessor agrees not to disturb Tenant's quiet enjoyment of the Premises.
Subordination; Nondisturbance. Landlord represents and warrants to Tenant that Landlord is the fee owner of the Land and Building, and that the only mortgage lien encumbering the Land and Building is set forth in that certain Deed of Trust dated ___________________ and recorded in the records of Multnomah County, Oregon under Recording No. ___________________, in which Sterling Savings Bank is the beneficiary ("Lender"). Contemporaneously with the execution of this Lease by Landlord and Tenant, Lender and Tenant have executed and delivered a subordination, nondisturbance and attornment agreement (the "Initial SNDA"). This Lease, and all rights of Tenant hereunder, are and shall also be, upon the election of the holder thereof, but subject to the quiet enjoyment provisions of Paragraph X(3), below, subject and subordinate to all mortgages, trust deeds and other financing and security instruments ("Mortgages"), that may hereafter affect the Premises, and to all renewals, modifications, replacements and extensions of any such Mortgages. This Paragraph shall be self-operative, and no further instrument of subordination shall be required to effect a subordination hereunder; provided, however, that in confirmation of such subordination Tenant shall promptly execute, acknowledge or deliver any instrument that Landlord or any such mortgagee may reasonably request to evidence such subordination. A request that Tenant execute an instrument substantially equivalent to the SNDA shall be deemed reasonable.
Subordination; Nondisturbance. This Lease, and all rights of Tenant hereunder, are and shall be, upon the election of the holder thereof, subject and subordinate to all mortgages, trust deeds and other financing and security instruments (“Mortgages”), that may now or hereafter affect the Premises, and to all renewals, modifications, replacements and extensions of any such Mortgages. This Section shall be self-operative, and no further instrument of subordination shall be required to effect a subordination hereunder; provided, however, that in confirmation of such subordination Tenant shall promptly execute, acknowledge or deliver any instrument that Landlord or any such mortgagee may reasonably request to evidence such subordination so long as the same includes a nondisturbance provision consistent with Section 20.3 below. Tenant hereby irrevocably constitutes and appoints Landlord as Tenant’s attorney-in-fact, coupled with an interest, to execute and deliver any such instruments for and on behalf of Tenant, at Landlord’s sole election. In addition to the foregoing, any mortgagee under the Mortgages has the right, at any time, to prepare and file a notice of subordination with the County Recorder.
Subordination; Nondisturbance. Landlord shall use best efforts to provide Tenant with a Subordination NonDisturbance and Attornment Agreement ("SNDA") in a form similar to the SNDA given to Tenant for review, subject to changes mutually agreed upon between lender and Tenant.
Subordination; Nondisturbance. (a) This Lease is subject and ----------------------------- subordinate in all respects to all mortgages and other existing matters of record affecting the Building or the Property as of the date hereof. Tenant agrees at the request of Landlord to subordinate this Lease to any mortgage, ground lease, or other matter of record placed upon or affecting this Lease, the Building, the Property or Landlord's interest or estate therein and to recognize the holder thereof or any other person acquiring title to the Property as Landlord, provided such holder or person recognizes this Lease subject to a default by Tenant hereunder. Tenant agrees to execute and deliver any appropriate instruments necessary to carry out the foregoing provisions.
