Common use of Subordination; Requirements of Lenders Clause in Contracts

Subordination; Requirements of Lenders. 16.1 Without the necessity of any additional document being executed by Tenant for the purpose of effecting a subordination, this Lease shall be subject and subordinate at all times to (a) all ground leases or underlying leases which may now exist or hereafter be executed affecting all or any portion of the Project and (b) the lien of any mortgage or deed of trust which may now exist or hereafter be executed affecting all or any portion of the Project. Notwithstanding the foregoing, Landlord shall have the right to subordinate or cause to be subordinated any such ground leases or underlying leases or any such liens to this Lease. If any ground lease or underlying lease terminates for any reason or any mortgage or deed of trust is foreclosed or a deed in lieu of foreclosure is made for any reason, then at the election of such ground lessor or mortgagee or beneficiary, Tenant shall, notwithstanding any subordination, attorn to and become the Tenant of the successor-in-interest at the option of such successor-in-interest. It shall be a condition to any future subordination of the Lease that the ground lessor or mortgagee or beneficiary requesting such subordination shall agree that so long as Tenant is not in default under this Lease, Tenant's possession of the Premises shall not be disturbed as a result of such termination, foreclosure or deed in lieu of foreclosure. Tenant shall execute and deliver, upon demand by Landlord and in the form requested by Landlord, any additional documents evidencing the priority or subordination of this Lease and the attornment of Tenant with respect to any such ground leases or underlying leases or the lien of any such mortgage or deed of trust. Tenant hereby irrevocably appoints Landlord as attorney-in-fact of Tenant to execute, deliver and record any such documents in the name and on behalf of Tenant if Tenant fails to do same pursuant to the foregoing.

Subordination; Requirements of Lenders. 16.1 17.1 SUBORDINATION LANDLORD HEREBY REPRESENTS AND WARRANTS TO TENANT THAT THE PREMISES, BUILDING AND PROJECT ARE NOT, AS OF THE DATE OF THIS LEASE, SUBJECT TO ANY DEED OF TRUST, MORTGAGE OR OTHER INSTRUMENT SECURING THE PAYMENT OF MONEY OR A GROUND LEASE. Without the necessity of any additional document being executed by Tenant for the purpose of effecting a subordination, this Lease shall be subject and subordinate at all times to (a) all ground leases or underlying leases which may now exist or hereafter be executed affecting all or any portion of the Project Project, and (b) the lien of any mortgage or deed of trust which may now exist or hereafter be executed affecting all or any portion of the Project, provided that such ground lease, underlying lease, mortgage or deed of trust is approved by the mortgagee under a first deed of trust, as the case may be, encumbering the Building. Notwithstanding the foregoing, Landlord shall have the right to subordinate or cause to be subordinated any such ground leases or underlying leases or any such liens to this Lease. If In the event that any ground lease or underlying lease terminates for any reason or any mortgage or deed of trust is foreclosed or a deed in lieu of foreclosure is made for any reason, then at the election of such ground lessor or mortgagee or beneficiary, Tenant shall, notwithstanding any the subordination, attorn to and become the Tenant of the successor-in-successor in interest to Landlord at the option of and on terms acceptable to such successor-in-successor in interest. It shall be Subject to delivery to Tenant of a condition commercially reasonable form of nondisturbance agreement, Tenant covenants and agrees to any future subordination of the Lease that the ground lessor or mortgagee or beneficiary requesting such subordination shall agree that so long as Tenant is not in default under this Lease, Tenant's possession of the Premises shall not be disturbed as a result of such termination, foreclosure or deed in lieu of foreclosure. Tenant shall execute and deliver, upon demand by Landlord or any lienholder or successor in interest, and in the form requested by Landlordthereby, any additional documents evidencing the priority or of subordination of this Lease and the attornment of Tenant with respect to any such ground leases or underlying leases or the lien of any such mortgage or deed of trust. Tenant hereby irrevocably appoints Landlord as attorney-in-fact of Tenant to execute, deliver and record any such documents in the name and on behalf of Tenant if Tenant fails to do same pursuant to the foregoing. If any ground lease, underlying lease, mortgage or deed of trust encumbers the Premises on the Commencement Date, then Landlord shall use commercially reasonable efforts to obtain from the lessor, mortgagee or beneficiary thereof a non-disturbance agreement in commercially reasonable form.

Subordination; Requirements of Lenders. 16.1 Without the necessity of any additional document being executed by Tenant for the purpose of effecting a subordination, this Lease shall be subject and subordinate at all times to (a) all ground leases or underlying leases which may now exist or hereafter be executed affecting all or any portion of the Project Project, and (b) the lien of any mortgage or deed of trust which may now exist or hereafter be executed affecting all or any portion of the Project, provided that such ground lease, underlying lease, mortgage or deed of trust is approved by the mortgagor under a first mortgage or the beneficiary under a first deed of trust, as the case may be, encumbering the Building and provided further that the Tenant is granted usual and customary non-disturbance rights which are acceptable to Tenant, in its reasonable discretion. Notwithstanding the foregoing, Landlord shall have the right to subordinate or cause to be subordinated any such ground leases or underlying leases or any such liens to this Lease. If In the event that any ground lease or underlying lease terminates for any reason or any mortgage or deed of trust is foreclosed or a deed in lieu of foreclosure is made for any reason, then at the election of such ground lessor or mortgagee or beneficiary, Tenant shall, notwithstanding any subordination, attorn to and become the Tenant of the successor-in-successor in interest at the option of such successor-in-interestto Landlord. It shall be a condition to any future subordination of the Lease that the ground lessor or mortgagee or beneficiary requesting such subordination shall agree that so So long as Tenant is not in default under this Lease, Tenant's possession of the Premises and all of Tenant's rights under this Lease shall not be disturbed or altered as a result of such termination, foreclosure or deed in lieu of foreclosure. Tenant shall covenants and agrees to execute and deliver, upon demand by Landlord and or any lienholder or successor in the form requested by Landlordinterest, any additional documents evidencing the priority or subordination of this Lease and the attornment of Tenant with respect to any such ground leases or underlying leases or the lien of any such mortgage or deed of trust. Tenant hereby irrevocably appoints Landlord as attorneyor trust subject always to Tenant's obtaining such usual and customary non-in-fact of Tenant disturbance rights which are acceptable to executeTenant, deliver and record any such documents in the name and on behalf of Tenant if Tenant fails to do same pursuant to the foregoingits reasonable discretion.