Common use of SUBORDINATION-NOTICE TO MORTGAGEE Clause in Contracts

SUBORDINATION-NOTICE TO MORTGAGEE. This Lease shall be subject and subordinate to any and all mortgages and other instruments in the nature of a mortgage, now or at any time hereafter, a lien or liens on the property of which the Premises are a part and the Tenant shall, when requested, promptly execute and deliver such commercially reasonable written instruments as shall be necessary to show the subordination of this Lease to said mortgages, or other such instruments in the nature of a mortgage, and Landlord shall be required to simultaneously obtain from the holder of any such instrument an agreement, in such holder's customary form, running to the Tenant whereby such holder has agreed, in the event of a foreclosure of said lien not to disturb the Tenant hereunder so long as the Tenant is not in default of the Lease (the “SNDA Agreement”). No act or failure to act on the part of Landlord which would entitle Tenant under the terms of this Lease, or by law, to be relieved of Tenant’s obligations hereunder or to terminate this Lease, shall result in a release or termination of such obligations or a termination of this Lease unless (i) Tenant shall have first given written notice of Landlord’s act or failure to act to Landlord’s mortgagees of record, if any, of whom Tenant has received written notice specifying the act or failure to act on the part of Landlord which could or would give basis to Tenant’s rights; and (ii) such mortgagees, after receipt of such notice, have failed or refused to correct or cure the condition complained of within a reasonable time thereafter (including a reasonable time to obtain possession of the mortgaged Premises if the mortgagee elects to do so); but nothing contained in this Paragraph 16 shall be deemed to impose any obligation on any such mortgagees to correct or cure any condition.

SUBORDINATION-NOTICE TO MORTGAGEE. This Lease shall be subject and subordinate to any and all mortgages and other instruments in the nature of a mortgage, now or at any time hereafter, a lien or liens on the property of which the Premises are a part and the Tenant shall, when requested, promptly execute and deliver such commercially reasonable written instruments as shall be necessary to show the subordination of this Lease to said mortgages, or other such instruments in the nature of a mortgage, and Landlord shall be required to simultaneously obtain from Provided the holder of any such instrument an agreement, in such holder's customary form, running real estate security interest agrees to the Tenant whereby such holder has agreed, recognize this Lease in the event of a foreclosure of said lien not to disturb the Tenant hereunder so long as the if Tenant is not in default at such time (a "Non-disturbance Assurance"), this Lease shall be automatically subordinate to all of Landlord's mortgages, deeds of trust, or ground leases which heretofore and hereafter affect the Lease (Leased Premises, the “SNDA Agreement”). No act Building or failure the Real Property, to act any and all advances made or to be made thereunder, to the interest on the part obligations secured thereby, and to all renewals, modifications, consolidations, replacements or extensions thereof. Upon receiving a Non-disturbance Assurance, this subordination shall be self operative, and no further instrument of subordination shall be necessary to effect such subordination; nevertheless, at the request of Landlord, Tenant shall promptly execute and deliver all instruments which may be reasonably required by Landlord which would entitle or Landlord's lender to subordinate this Lease to any existing or future mortgages or deeds of trust on the Building or on the leasehold interest held by Landlord, and to any extensions, renewals, or replacements thereof; provided, that the mortgagee or beneficiary, as the case may be, shall agree, in exchange for the agreement of Tenant under to attorn to such mortgagee or beneficiary, to provide a Non-disturbance Assurance. Notwithstanding anything to the terms of contrary in this Lease, or by law, to Landlord shall not be relieved of Tenant’s obligations hereunder or to terminate this Lease, shall result in a release or termination of such obligations or a termination default under any provision of this Lease unless (i) Tenant shall have first given written notice of Landlord’s act or failure to act to Landlord’s mortgagees of record, if any, of whom Tenant has received written notice specifying the act such default is given to Landlord and to all persons who have an interest in all or failure to act on the part of the Building as mortgagees and/or deed of trust beneficiaries, and the provisions of Section 17 have been fully complied with. Tenant further agrees that if Landlord which could shall have failed to cure or would give basis to Tenant’s rights; and (ii) such mortgagees, after receipt commence the cure of such noticedefault within the time period allowed under Section 17 above, then the mortgagees or deed of trust holder, as the case may be, shall have failed an additional thirty (30) days within which to cure or refused commence the cure of such breach or default and thereafter diligently pursue such cure to correct completion including, if necessary to effectuate such cure, commencement of judicial or cure the condition complained of within a reasonable time thereafter (including a reasonable time to obtain possession of the mortgaged Premises if the mortgagee elects to do so); but nothing contained in this Paragraph 16 shall be deemed to impose any obligation on any such mortgagees to correct or cure any conditionnonjudicial foreclosure proceedings.