Subordination of Leases. Trustor acknowledges and agrees that said Leases are and shall be subordinate hereto and that upon any sale or deed in lieu of sale hereunder such lessees shall attorn to the purchaser or grantee, as the case may be, and recognize the same as lessor under said Leases as fully as if such purchaser or grantee had been named as lessor under such Leases, but without any claim or offset against such purchaser or grantee for any liability of any previous lessor. Such lessees shall from time to time during the term hereof, within ten days after demand therefor by Beneficiary, execute and deliver to Beneficiary, or any party designated by Beneficiary, a certificate in recordable form certifying that attached thereto is a true and correct copy of such lessee's Lease, the term of said lease, the date to which all rentals and other charges have been paid, the amount of any security deposit, that no rent has been prepaid or discounted, that such Lease is in full force and effect, and that no defaults have occurred thereunder (or specifying the nature of such defaults).
Subordination of Leases. Borrower covenants, if any lease of any Collateral Pool Property is not subordinate to the Security Instrument securing such Collateral Pool Property, Borrower shall (i) use a new standard lease form containing subordination language acceptable to Lender, for all new leases of such Collateral Pool Property; and (ii) execute the new form of lease on any renewal of any existing leases of such Collateral Pool Property.
Subordination of Leases. All Leases and the rights of tenants ------------------------- thereunder shall be subordinate to the lien of this Mortgage and to all terms, - conditions and provisions hereof, and to any renewal, consolidation, extension, modification or replacement hereof, and every Lease shall provide for such subordination therein.
Subordination of Leases. All Leases entered into after the Closing Date shall contain provisions obligating the Lessees thereunder to attorn to Agent or any purchaser therefrom in the event Agent or such purchaser succeeds to the interest of Borrower Parties under such Leases. Each Lease Guaranty entered into after the date hereof shall provide that it shall remain in full force and effect, and that one guarantor thereunder shall perform for the benefit of Agent or such purchaser, upon the attornment by the Lessee to Agent or such purchaser.
Subordination of Leases. Unless otherwise Approved by Lender or as set forth in any Leases extant at the inception of this Loan, all Leases shall be absolutely subordinate to the lien of the applicable Security Instrument, but may contain a provision reasonably satisfactory to Lender that, in the event of the exercise of the private power of sale or a judicial foreclosure thereunder, such Lease, at the sole and exclusive option of the purchaser at such sale, shall not be terminated and the Tenant thereunder shall attorn to such purchaser and, if requested to do so, shall enter into a new Lease for the balance of the term then remaining upon the same terms and conditions.
Subordination of Leases. Each Lease shall be absolutely and unconditionally subordinate to the Lien of this Deed of Trust, but shall also contain a provision, satisfactory to Beneficiary, that in the event of the exercise of the power of sale hereunder or a sale pursuant to a judgment of foreclosure, such Lease, at the sole and exclusive option of the purchaser at such sale, shall not be terminated and the tenant thereunder shall attorn to such purchaser and, if requested to do so, shall enter into a new lease for the balance of the term of such lease then remaining, upon the same terms and conditions. If Beneficiary so requests, Trustor shall cause the tenant under each or any of such Leases to enter into subordination and attornment agreements with Beneficiary which are satisfactory in form, scope and substance to Beneficiary. No warehouse agreements with respect to any portion of the Property shall create an interest in the Real Property.
Subordination of Leases. All leases or subleases entered into by the Borrower (or any other entity representing the Borrower or succeeding to the Borrower's position) in respect of the Property shall be subordinate to and subject to this Deed of Trust and shall contain a clause to that effect.
Subordination of Leases. The Mortgagor shall cause all present and future leases affecting the Premises to be subject and subordinate to this Mortgage.
Subordination of Leases. Prior to each disbursement ----------------------- following the initial disbursement, the Borrower shall have furnished to the Bank (i) a subordination agreement from each tenant possessing any portion of the Premises wherein such tenant subordinates its leasehold interest to the lien of the Mortgage or (ii) an endorsement to the Title Policy affirmatively insuring the superiority of the lien of the Mortgage against any such tenant's leasehold interest.
Subordination of Leases. Except as otherwise specifically set forth in this Agreement or in the Non-Disturbance and Attornment Agreement, it is understood and agreed that the Leases are and shall remain fully junior and subordinate to the liens and interests of Lender pursuant to the Loan Documents, including any renewals, modifications, consolidations, replacements and extensions of the Loan.
