Subordination of Fee Mortgage. If one or more Leasehold Mortgages is in effect, the following shall apply: (a) all Fee Mortgages shall be expressly subject and subordinate to this Lease, any Mortgagee Lease, and all amendments, modifications, and extensions thereof and shall include the Fee Mortgagee’s agreement to execute and deliver to Leasehold Mortgagee an agreement in accordance with Section 13.08 hereof; (b) Landlord shall not enter into any Fee Mortgage that violates this Section 13.10; (c) Tenant shall not subordinate this Lease without the prior written consents of all Leasehold Mortgagees; and (d) concurrently with the execution and delivery of this Lease, Landlord shall cause all Fee Mortgagees to execute and deliver to Tenant a subordination agreement that is in recordable form and that contains such terms as are reasonably acceptable to Tenant and Leasehold Mortgagee.
Subordination of Fee Mortgage. Landlord may, in its sole discretion, grant any Fee Mortgage which may now or hereafter encumber Landlord’s Estate. Any Fee Mortgage shall recognize all of Tenant’s (and any Leasehold Mortgagee’s) rights under this Lease and shall be subject and subordinate to this Lease and any renewals, amendments and replacements hereof, including, without limitation, any new lease made pursuant to the provisions of Section 24.3(f) and the term, rights and leasehold estate of Tenant hereunder and thereunder and to any Leasehold Mortgages. For purposes of clarification, the provisions of this Section 25.7 shall not be deemed to give any Leasehold Mortgagee greater rights than Tenant has pursuant to this Lease. The provisions of this Section 25.7 shall be self operative, without the necessity of any other written consent or subordination by the holder of any Fee Mortgage. However, upon request of Tenant, Landlord shall at any time or times use commercially reasonable efforts to cause the holder of each Fee Mortgage to execute, acknowledge and deliver to Tenant and each Leasehold Mortgagee, provided that Tenant pays any reasonable costs incurred by Landlord in respect thereof, any instrument reasonably required by Tenant or any Leasehold Mortgagee to confirm the terms of this Section.
Subordination of Fee Mortgage. The following sentence is hereby added to the end of Section 27 of the Lease: “Landlord hereby confirms that there are no existing mortgages on Landlord’s fee estate and that any future mortgage granted by Landlord on its fee estate shall be expressly subordinate to the Lease. In addition, Landlord hereby agrees that it shall not, and Tenant is expressly prohibited from, require Tenant to subordinate its interest in the Ground Lease to any future mortgage on Landlord’s fee estate.”
