Common use of Subordination of Management Agreement Clause in Contracts

Subordination of Management Agreement. The Management Agreement and any and all liens, rights and interests (whether xxxxxx or inchoate and including, without limitation, all mechanic’s and materialmen’s liens under applicable law) owed, claimed or held, by Manager in and to the Property, are and shall be in all respects subordinate and inferior to the liens and security interests created or to be created for the benefit of Lender, and securing the repayment of the Note and the obligations under the Loan Agreement including, without limitation, those created under the Mortgage covering, among other things, the Property, and filed or to be filed of record in the public records maintained for the recording of mortgages in the jurisdiction where the Property is located, and all renewals, extensions, increases, supplements, amendments, modifications or replacements thereof.

Subordination of Management Agreement. The Management Agreement and any and all liens, rights and interests (whether xxxxxx choate or inchoate and including, without limitation, all mechanic’s and mechanic'x xxx materialmen’s 's liens under applicable law) owed, claimed or held, by Manager in and to the PropertyProperties, are and shall be in all respects subordinate and inferior to the liens and security interests created or to be created for the benefit of Lender, and securing the repayment of the Note and the obligations under the Loan Agreement including, without limitation, those created under the Mortgage covering, among other things, the PropertyProperties, and filed or to be filed of record in the public records maintained for the recording of mortgages in the jurisdiction where the Property is Properties are located, and all renewals, extensions, increases, supplements, amendments, modifications or replacements thereof.

Subordination of Management Agreement. The Management Agreement and any and all liens, rights and interests (whether xxxxxx cxxxxx or inchoate and including, without limitation, all mechanic’s and materialmen’s liens under applicable law) owed, claimed or held, by Manager in and to the Property, are and shall be in all respects subordinate and inferior to the liens and security interests created or to be created for the benefit of Lender, and securing the repayment of the Note and the obligations under the Loan Agreement including, without limitation, those created under the Mortgage Security Instrument covering, among other things, the Property, and filed or to be filed of record in the public records maintained for the recording of mortgages in the jurisdiction where the Property is located, and all renewals, extensions, increases, supplements, amendments, modifications or replacements thereof.