Subordination to Financing Sample Clauses

Subordination to Financing. City shall subordinate Owner’s covenants and restrictions set forth in this Agreement to the lien of Developer’s construction loan deed of trust. “Developer Deed of Trust. In addition, City agrees to and shall subordinate any Homeowner’s covenants and restrictions set forth in this Agreement to the lien of any deed or deeds of trust securing a purchase money loan or loans used by such Homeowner to purchase the Program Unit and to the lien of any deed or deeds of trust securing any refinancing obtained by a Homeowner that encumbers the Property provided that the refinancing loan does not exceed the principal balance of the purchase money loan being refinanced plus closing costs and loan costs payable by the Homeowner. However, the City Manager or his/her designee shall have the authority to approve, in writing, a refinancing that exceeds such limited amount by up to $25,000 (the “Cash Out Amount”) provided the interest rate for the refinancing loan is materially lower than the interest rate of the loan being refinanced; Homeowner provides satisfactory evidence to the City Manager or his/her designee that the additional Cash Out Amount is needed to remedy a specific and significant current or identifiable future adverse financial condition of the Homeowner and Homeowner agrees that the proceeds of such over-financing shall be added to the “net proceeds” in the event Homeowner sells the Program Unit in accordance with section 3(b)(ii) of this Agreement. In order to process a request for City Manager (or designee) approval of subordination, the Homeowner or its prospective purchaser, as applicable, shall deliver the following information to the City Manager or his/her designee at least fifteen (15) days prior to the anticipated closing of the Homeowner Loan: (i) the name and address of the lender, including the name and contact information of the lender's representative who will provide and/or sign the subordination agreement on behalf of the lender; (ii) a summary of the terms of the Homeowner Loan, including principal, interest rate, term, payment schedule, and loan fees; (iii) the anticipated closing date of the Homeowner Loan; (iv) a copy of the proposed loan documents and any or other agreements between the Homeowner and the proposed lender; and (v) if the Homeowner Loan exceeds the Cash Out amount referred to in the first sentence of the preceding paragraph and requires City Manager (or designee) approval under either clause (i) or (ii) thereof, an expla...

Subordination to Financing. (i) Subject to the provisions of Paragraph 16(a)(ii), ▇▇▇▇▇▇ agrees that this Lease shall at all times be subject and subordinate to the Lien of the Mortgage, if any, and Tenant agrees, upon demand, to execute instruments as may be required to further effectuate or confirm such subordination, provided such instruments are reasonably acceptable to Tenant. (ii) Except as expressly provided in this Lease by reason of the occurrence of an Event of Default, and as a condition to the subordination described in Paragraph 16(a)(i) above, Tenant’s tenancy and Tenant’s rights under this Lease shall not be disturbed, terminated or otherwise adversely affected, nor shall this Lease be affected, by the existence of, or any default under, a Mortgage, and in the event of a foreclosure or other enforcement of a Mortgage, or sale in lieu thereof, the purchaser at such foreclosure sale shall be bound to Tenant for the Term of this Lease, the rights of Tenant under this Lease shall expressly survive, and this Lease shall in all respects continue in full force and effect so long as no Event of Default has occurred and is continuing. Tenant shall not be named as a party defendant in any such foreclosure suit, except as may be required by law. Any Mortgage to which this Lease is now or hereafter subordinate shall provide, in effect, that during the time this Lease is in force and no Event of Default has occurred and is then continuing hereunder, insurance proceeds and any condemnation award shall be disbursed pursuant to the provisions of this Lease. (b) Notwithstanding the provisions of Paragraph 16(a), the holder of the Mortgage to which this Lease is subject and subordinate shall have the right, at its sole option, at any time, to subordinate and subject the Mortgage, in whole or in part, to this Lease by recording a unilateral declaration to such effect. (c) At any time prior to the expiration of the Term, ▇▇▇▇▇▇ agrees, at the election and upon demand of any owner of the Leased Premises, or of a Lender who has granted non-disturbance to Tenant pursuant to Paragraph 16(a) above, to attorn, from time to time, to any such owner or Lender, upon the terms and conditions of this Lease, for the remainder of the Term. The provisions of this Paragraph 16(c) shall inure to the benefit of any such owner or Lender, shall apply notwithstanding that, as a matter of law, this Lease may terminate upon the foreclosure of the Mortgage, shall be self-operative upon any such demand, and no fu...

Subordination to Financing. (a) (i) Subject to the provisions of Paragraph 16(a)(ii), Tenant agrees that this Lease shall at all times be subject and subordinate to the lien of any Mortgage, and Tenant agrees, upon demand, without cost, to execute instruments as may be required to further effectuate or confirm such subordination.

Subordination to Financing. This Agreement and the rights of the Leasing Agent hereunder shall be and remain junior and subordinate in all respects to the lien of any mortgage, trust deed or any other security instrument now or hereafter affecting the Property. Leasing Agent agrees to execute any document required by the maker of such financing to evidence the foregoing subordination.

Subordination to Financing. Lender agrees to execute and deliver to Borrower a subordination of Lender's security interest in the Collateral to the subsequent deed(s) of trust executed by Borrower to secure the financing necessary for the construction of the Madera Facility. The form and terms of the subordination shall be reasonably acceptable to the lender(s) that finance the Madera Facility construction.

Subordination to Financing. 15.1.1 Owner or its Affiliates may borrow money from one or more lenders for the acquisition, development and/or construction of the Project (or portions thereof). Operator shall, upon written request from Owner, attorney to any mortgagee who enters into a non-disturbance agreement with Operator.

Subordination to Financing. Your rights under this Agreement shall at all times be subject and subordinate to the rights of any lender providing financing to the Corporation. The rights of such lender shall include, but shall not be limited to, rights in any mortgage, deed of trust or security agreement now existing or hereafter created, on any of the Corporation's property (with the exception of any refund owed under Section IX.C of this Agreement) and to all amendments, modifications, replacements or refinancing thereof. You agree to execute and deliver any document required by either the Corporation or by the beneficiary of any mortgage, deed of trust or security agreement to evidence or effect such subordination. You acknowledge that the Corporation's rights under this Agreement may be assigned in connection with any such financing.

Subordination to Financing. The Resident’s rights under this Agreement shall at all times be subordinate to the rights of any bona fide lender under any mortgage, deed of trust or other security interest, now existing or hereafter created, on any of the property of ▇▇▇▇▇▇ Highland Farms and to all amendments, modifications, replacements or refinancing thereof. The Resident shall execute and deliver any documents reasonably required by ▇▇▇▇▇▇ Highland Farms or by the holder of any mortgage, deed of trust or other security agreement to evidence or effect such subordination.

Subordination to Financing. 32 Exhibit A Legal Description Exhibit B Permitted Encumbrances Exhibit C Tenant Estoppel Certificate Exhibit D Subordination, Non-Disturbance, and Attornment Agreement LEASE AND AGREEMENT OF LEASE THIS LEASE AND AGREEMENT OF LEASE (the "Lease") is made, entered into and effective this ______ day of December, 1998 (the "Commencement Date"), by and between TVCA, LLC, a Delaware limited liability company, and its successors or assigns (the "Landlord"), whose address for purposes of notice hereunder is 1900 Avenue of the ▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇, Fax: (▇▇▇) ▇▇▇-▇▇▇▇ and Televideo, Inc., a Delaware corporation (the "Tenant"), whose address for purposes of notice hereunder is ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇, San Jose, CA 95131 Fax: (▇▇▇) ▇▇▇-▇▇▇▇. R E C I T A L S This Lease is made with reference to the following facts and objectives, and may be entered as admissions against either party by the other in any action arising from or related to this Lease. Landlord is the owner of the following: (i) certain tract(s) or parcel(s) of land located in San Jose, California, and more particularly described on the attached and incorporated Exhibit "A" (the land described above, together with all rights, interests, easements, rights of way and appurtenances related thereto, shall hereinafter be referred to as the "Land"); and (ii) a building or buildings located or to be located on the Land at ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇, San Jose, CA, and all other structures and improvements existing or to be constructed on the Land, together with all fixtures and equipment therein owned by Landlord and used in the operation of the same (collectively, the "Improvements"). The Land and Improvements are hereinafter collectively referred to as the "Premises." No easement for light, air or view is included with or appurtenant to the Premises.