Subordination or Superiority. If any First Mortgagee shall agree that, if it becomes the owner of the leased premises by foreclosure or deed in lieu of foreclosure, it will recognize the rights and interest of Lessee under the Lease and not disturb Lessee's use and occupancy of the leased premises if and so long as no Event of Default of Lessee has occurred (which agreement may, at such mortgagee's option, require attornment by Lessee), then all or a portion of the rights and interests of Lessee under this Lease shall be subject and subordinate to the First Mortgage and to any and all advances to be made thereunder, and to the interest thereon, and all renewals, replacements and extensions thereof. Any First Mortgagee may elect that, 23 instead of making this Lease subject and subordinate to its first mortgage or first trust deed, the rights and interest of Lessee under this Lease shall have priority over the lien of the First Mortgage. Lessee agrees that it will, within ten (10) days after demand in writing, execute and deliver whatever instruments may be reasonably required, either to make this Lease subject and subordinate to the First Mortgage, or to give the Lease priority over the lien of the First Mortgage, whichever alternative may be elected by the First Mortgagee. Should Lessor request that Lessee execute any document in accordance with this Section 18.1 more than one time during a twelve (12) month period, Lessor shall pay the reasonable costs and expenses of Lessee resulting therefrom.
Subordination or Superiority. The rights and interest of Tenant under this Lease shall be subject and subordinate to any first mortgage or trust deed creating a first mortgage that may be placed upon the Leased Premises by Landlord and to any and all advances to be made hereunder, and to the interest thereon, and all renewals, replacements and extensions thereof, if the mortgagee or trustee named in said mortgages or trust deeds shall elect to subject and subordinate the rights and interest of Tenant under this Lease to the lien of its mortgage or deed of trust and shall agree to recognize this Lease of Tenant in the event of foreclosure if Tenant is not in default (which agreement may, at such mortgagee’s option, require attornment by Tenant). Any such mortgagee or trustee may elect to give the rights and interest of Tenant under this Lease priority over the lien of its mortgage or deed of trust. In the event of either such election and upon notification by such mortgagee or trustee to Tenant to that effect, the rights and interest of Tenant under this Lease shall be deemed to be subordinate to, or to have priority over, as the case may be, the lien of said mortgage or trust deed, whether this Lease is dated prior to or subsequent to the date of said mortgage or trust deed. Tenant shall execute and deliver whatever instruments may be required for such purposes and in the event Tenant fails so to do within ten (10) days after demand in writing, Tenant does hereby make, constitute and irrevocably appoint Landlord as its attorney in fact an in its name, place, and stead so to do.
Subordination or Superiority. (a) This Lease is subject and subordinate to the lien of any deed of trust, mortgage or mortgages now placed upon Landlord’s interest in the Real Estate. Landlord shall use good faith efforts to obtain a commercially reasonable non-disturbance agreement for Tenant from its existing lender, Deutsche Bank, on or before the Rent Commencement Date. The parties agree that the non-disturbance agreement attached hereto as Exhibit D is commercially reasonable. In the event Tenant has not received a fully executed commercially reasonable non-disturbance agreement from Deutsche Bank within six (6) months from the date of this Lease, Tenant’s obligation to pay Annual Rent (but not Additional Rent) hereunder shall be deferred commencing upon the expiration of such six (6) month period until such time as said non-disturbance agreement is executed by Deutsche Bank and delivered to Tenant.
(b) Landlord reserves the right to subject and subordinate this Lease at all times to the lien of any deed of trust, mortgage or mortgages hereafter placed upon Landlord’s interest in the Leased Premises; provided, however, that no default by Landlord, under any deed of trust, mortgage or mortgages, shall affect Tenant’s rights under this Lease, so long as Tenant performs the obligations imposed upon it hereunder and is not in default hereunder, and Tenant attorns to the holder of such deed of trust or mortgage, its assignee or the purchaser at any foreclosure sale. Tenant shall execute a commercially reasonable instrument presented to Tenant for the purpose of effecting such subordination so long as the subordination is substantially in the form attached as Exhibit D. It is a condition, however, to the subordination and lien provisions herein provided, that Landlord shall procure from any such mortgagee an agreement in writing, which shall be delivered to Tenant or contained in the aforesaid subordination agreement, providing in substance that so long as Tenant shall faithfully discharge the obligations on its part to be kept and performed under the terms of this Lease and is not in default under the terms hereof, its tenancy will not be disturbed nor this Lease affected by any default under such mortgage.
(c) Wherever notice is required to be given to Landlord pursuant to the terms of this Lease, Tenant will likewise give such notice to any mortgagee of Landlord’s interest in the Leased Premises upon notice of such mortgagee’s name and address from Landlord. Furthermore, such mortgag...
Subordination or Superiority. The rights and interest of Tenant under this Lease shall be subject and subordinate to any first mortgage or trust deed creating a first mortgage that may be placed upon the Leased Premises and to any and all advances to be made thereunder, and to the interest thereon, and all renewals, replacements and extensions thereof, if the mortgagee or trustee named in said mortgages or trust deeds shall elect to subject and subordinate the rights and interest of Tenant under this Lease to the lien of its mortgage or deed of trust. Any mortgagee or trustee may elect to give the rights and interest of Tenant under this Lease priority over the lien of its mortgage or deed of trust. In the event of either such election and upon notification by such mortgagee or trustee to Tenant to that effect, the rights and interest of Tenant under this Lease shall be deemed to be subordinate to, or to have priority over, as the case may be, the lien of said mortgage or trust deed, whether this Lease is dated prior to or subsequent to the date of said mortgage or trust deed. Tenant shall execute and deliver whatever instruments may be required for such purposes, and in the event Tenant fails so to do within ten (10) days after demand in writing, Tenant does hereby make, constitute and irrevocably appoint Landlord as its attorney in fact and in its name, place, and stead so to do.
Subordination or Superiority. 31 16.1. Subordination; Non-Disturbance.................................. 31 16.2. Superiority..................................................... 31
Subordination or Superiority. All of the rights and interests of Tenant under this Lease shall be subject and subordinate to any mortgage that encumbers the Quarry, and to any and all advances to be made thereunder, and to the interest thereon, and to all renewals, replacements and extensions thereof. The mortgagee may elect, instead of making this Lease subject and subordinate to its mortgage, the rights and interest of Tenant under this Lease shall have priority over the lien of its mortgage. Tenant agrees that it will, within ten (10) days after demand in writing, execute and deliver whatever instruments may be required, either to make the Lease subject and subordinate to such mortgage, or to give the Lease priority over the lien of the mortgage or trust deed, whichever alternative may be elected by the mortgagee. If Tenant fails to execute and deliver any such instrument, Tenant does hereby make, constitute and irrevocably appoint Landlord as its attorney in fact, in its name, place and stead so to do.
Subordination or Superiority. 22 XVII. SURRENDER................................................................................22 17.1 Surrender.......................................................................22 17.2 Removal of Tenant's Property....................................................23 17.3
Subordination or Superiority. 15 17. SURRENDER...............................................................15 18. REMEDIES................................................................16
Subordination or Superiority. At Sublessor's option, this Sublease shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation for security now or hereafter placed upon the Premises or any part thereof and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements, and extensions thereof without the execution and delivery of any instruments on the part of Sublessee. Any mortgagee or trustee shall have to option to give the rights and interest of Sublessee under this Sublease priority over the lien of its mortgage or deed of trust. In the event of either such option and upon notification by such mortgagee or trustee to Sublessee to that effect, the rights and interest of Sublessee under this Sublease shall be deemed to be subordinate to, or to have priority over, as the case may be, the lien of said mortgage or trust deed, whether this Sublease is dated prior to or subsequent to the date of said mortgage or trust deed. 40.2 AGREEMENTS Sublessee agrees to execute any agreements reasonably required to effectuate such subordination or to make this Sublease subordinate to the lien of any mortgage, deed of trust, or ground lease.
Subordination or Superiority. This Lease is subject to all Subordination, Non-disturbance and Attornment Agreement between Lessor and any of Lessor’s lenders or mortgage holders. Lessee agrees to execute all Subordination, Non-disturbance and Attornment Agreements tendered by Lessor or its lenders or mortgage holders within 7 business days of receipt of the same.
