Common use of Subordination of Lease to Future Liens Clause in Contracts

Subordination of Lease to Future Liens. Tenant hereby subjects and subordinates all or any of its rights under this Lease to any and all mortgages and deeds of trust now existing or placed on the Land or the Leased Property in the future; provided, however, that the applicable mortgagee stipulates that Tenant will not be disturbed in the quiet and peaceful use and enjoyment of the Leased Property so long as Tenant is not in default hereunder and Tenant's options and rights to purchase as herein set forth shall not be affected by any action taken under or pursuant to such deed of trust, provided Tenant is not in default hereunder. Landlord and Tenant agree that this Lease shall remain in full force and effect notwithstanding any default or foreclosure under any such mortgage or deed of trust, and that Tenant will attorn to the mortgagee, trustee or beneficiary of such mortgage or deed of trust and their successors or assigns, or the purchaser or assignee under any such foreclosure. Tenant will, upon request by Landlord, execute and deliver to Landlord, or to any other person designated by Landlord, any instrument or instruments required to give effect to the provisions of this Article 14, so long as Landlord first obtains from any lender connected with such request a written agreement providing: "As long as Tenant performs its obligations under this Lease, no foreclosure of, deed given in lieu of foreclosure of, or sale under the encumbrance, and no steps or procedures taken under the encumbrance, shall affect Tenant's rights under this Lease."

Subordination of Lease to Future Liens. Tenant hereby subjects and subordinates all or any of its rights under this Lease to any and all mortgages and deeds of trust now existing or placed on the Land or the Leased Property Premises in the future; provided, however, that the applicable mortgagee stipulates that Tenant will not be disturbed in the quiet and peaceful use and enjoyment of the Leased Property Premises so long as Tenant is not in default hereunder and Tenant's ’s options and rights to purchase as herein set forth shall not be affected by any action taken under or pursuant to such deed of trust, provided Tenant is not in default hereunder. Landlord and Tenant agree that this Lease shall remain in full force and effect notwithstanding any default or foreclosure under any such mortgage or deed of trust, and that Tenant will attorn to the mortgagee, trustee or beneficiary of such mortgage or deed of trust and their successors or assigns, or the purchaser or assignee under any such foreclosure. Tenant will, upon request by Landlord, execute and deliver to Landlord, or to any other person designated by Landlord, any instrument or instruments required to give effect to the provisions of this Article 14, so long as Landlord first obtains from any lender connected with such request a written agreement providing: "“As long as Tenant performs its obligations under this Lease, no foreclosure of, deed given in lieu of foreclosure of, or sale under the encumbrance, and no steps or procedures taken under the encumbrance, shall affect Tenant's ’s rights under this Lease."” Similarly, with respect to any existing mortgages or deeds of trust, Landlord (i) represents and warrants to Tenant that the holder or holders thereof either have no right to consent to or approve of this Lease or Landlord has obtained any such required consents or approvals and (ii) shall cause each holder thereof to deliver to Tenant an instrument which, among other things reasonably requested by the parties, shall provide that: “As long as Tenant performs its obligations under this Lease, no foreclosure of, deed given in lieu of foreclosure of, or sale under the encumbrance, and no steps or procedures taken under the encumbrance, shall affect Tenant’s rights under this Lease.”

Subordination of Lease to Future Liens. Tenant hereby subjects and subordinates all or any of its rights under this Lease to any and all mortgages and deeds of trust now existing or placed on the Land or the Leased Property in the future; provided, however, that the applicable mortgagee stipulates that Tenant will not be disturbed in the quiet and peaceful use and enjoyment of the Leased Property so long as Tenant is not in default hereunder and Tenant's ’s options and rights to purchase as herein set forth shall not be affected by any action taken under or pursuant to such deed of trust, provided Tenant is not in default hereunder. Landlord and Tenant agree that this Lease shall remain in full force and effect notwithstanding any default or foreclosure under any such mortgage or deed of trust, and that Tenant will attorn to the mortgagee, trustee or beneficiary of such mortgage or deed of trust and their successors or assigns, or the purchaser or assignee under any such foreclosure. Tenant will, upon request by Landlord, execute and deliver to Landlord, or to any other person designated by Landlord, any instrument or instruments required to give effect to the provisions of this Article 14, so long as Landlord first obtains from any lender connected with such request a written agreement providing: "“As long as Tenant performs its obligations under this Lease, no foreclosure of, deed given in lieu of foreclosure of, or sale under the encumbrance, and no steps or procedures taken under the encumbrance, shall affect Tenant's ’s rights under this Lease."” Similarly, with respect to any existing mortgages or deeds of trust, Landlord (i) represents and warrants to Tenant that the holder or holders thereof either have no right to consent to or approve of this Lease or Landlord has obtained any such required consents or approvals and (ii) shall cause each holder thereof to deliver to Tenant an instrument which, among other things reasonably requested by the parties, shall provide that: “As long as Tenant performs its obligations under this Lease, no foreclosure of, deed given in lieu of foreclosure of, or sale under the encumbrance, and no steps or procedures taken under the encumbrance, shall affect Tenant’s rights under this Lease.”