Common use of Subordination, Nondisturbance and Attornment Clause in Contracts

Subordination, Nondisturbance and Attornment. The Leases are and at all times shall be subject and subordinate in all respects to this Mortgage, and to all renewals, modifications, amendments, consolidations, replacements, refinancings and extensions of this Mortgage, to the full extent of all principal, interest and all other amounts secured hereby. Provided that a tenant is not in default under its Lease, Mortgagee shall not disturb the occupancy of such tenant under its Lease during the term of such Lease, notwithstanding foreclosure of this Mortgage, acceptance of a deed in lieu of foreclosure or exercise of any other remedy provided herein, or pursuant to the laws of the State of South Carolina. If requested by a tenant under any of the Leases or upon Mortgagee's request, Mortgagor shall enter into a subordination, nondisturbance and attornment agreement (reasonably acceptable in form and substance to Mortgagee) with such tenant whereby Mortgagee will agree to not disturb the tenant in its possession of the Property provided such tenant is not in default under its Lease and the tenant will agree to attorn to Mortgagee if Mortgagee takes possession of the Property.

Appears in 3 contracts

Samples: Mortgage, Assignment of Leases and Rents and Security Agreement (Koger Equity Inc), Mortgage, Assignment of Leases and Rents and Security Agreement (Koger Equity Inc), Mortgage, Assignment of Leases and Rents and Security Agreement (Koger Equity Inc)

AutoNDA by SimpleDocs

Subordination, Nondisturbance and Attornment. The Leases are and at all times shall be subject and subordinate in all respects to this MortgageIndenture, and to all renewals, modifications, amendments, consolidations, replacements, refinancings and extensions of this MortgageIndenture, to the full extent of all principal, interest and all other amounts secured hereby. Provided that a tenant is not in default under its Lease, Mortgagee Grantee shall not disturb the occupancy of such tenant under its Lease during the term of such Lease, notwithstanding foreclosure of this MortgageIndenture, acceptance of a deed in lieu of foreclosure or exercise of any other remedy provided herein, or pursuant to the laws of the State of South CarolinaGeorgia. If requested by a tenant under any of the Leases or upon MortgageeGrantee's request, Mortgagor Grantor shall enter into a subordination, nondisturbance and attornment agreement (reasonably acceptable in form and substance to MortgageeGrantee) with such tenant whereby Mortgagee Grantee will agree to not disturb the tenant in its possession of the Property provided such tenant is not in default under its Lease and the tenant will agree to attorn to Mortgagee Grantee if Mortgagee Grantee takes possession of the Property.

Appears in 3 contracts

Samples: Deed to Secure Debt, Assignment of Leases and Rents, and Security Agreement (Koger Equity Inc), Deed to Secure Debt, Assignment of Leases and Rents, and Security Agreement (Koger Equity Inc), Deed to Secure Debt, Assignment of Leases and Rents, and Security Agreement (Koger Equity Inc)

AutoNDA by SimpleDocs

Subordination, Nondisturbance and Attornment. The Leases are and at all times shall be subject and subordinate in all respects to this MortgageIndenture, and to all renewals, modifications, amendments, consolidations, replacements, refinancings and extensions of this MortgageIndenture, to the full extent of all principal, interest and all other amounts secured hereby. Provided that a tenant is not in default under its Lease, Mortgagee Grantee shall not disturb the occupancy of such tenant under its Lease during the term of such Lease, notwithstanding foreclosure of this MortgageIndenture, acceptance of a deed in lieu of foreclosure or exercise of any other remedy provided herein, or pursuant to the laws of the State of South CarolinaGeorgia. If requested by a tenant under any of the Leases or upon Mortgagee's requestGranxxx'x xequest, Mortgagor Grantor shall enter into a subordination, nondisturbance and attornment agreement (reasonably acceptable in form and substance to MortgageeGrantee) with such tenant whereby Mortgagee Grantee will agree to not disturb the tenant in its possession of the Property provided such tenant is not in default under its Lease and the tenant will agree to attorn to Mortgagee Grantee if Mortgagee Grantee takes possession of the Property.

Appears in 1 contract

Samples: Deed to Secure Debt and Security Agreement (Koger Equity Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!