Common use of Subordination to Mortgages and Ground Leases Clause in Contracts

Subordination to Mortgages and Ground Leases. This Lease is subject to and subordinate to all ground leases, mortgages and deeds of trust which affect the Building or the Property and which are of public record as of the Effective Date of this Lease, and to all renewals, modifications, consolidations, replacements and extensions thereof. However, if the lessor under any such ground lease or any lender holding any such mortgage or deed of trust shall advise Landlord that it desires or requires this Lease to be made prior and superior thereto, then, upon written request of Landlord to Tenant, Tenant shall promptly execute, acknowledge and deliver any and all customary or reasonable documents or instruments which Landlord and such lessor or lender deems necessary or desirable to make this Lease prior thereto. Tenant hereby consents to Landlord's ground leasing the land underlying the Building or the Property and/or encumbering the Building or the Property as security for future loans on such terms as Landlord shall desire, all of which future ground leases, mortgages or deeds of trust shall be subject to and subordinate to this Lease. However, if any lessor under any such future ground lease or any lender holding such future mortgage or deed of trust shall desire or require that this Lease be made subject to and subordinate to such future ground lease, mortgage or deed of trust, then Tenant agrees, within ten days after Landlord's written request therefor, to execute, acknowledge and deliver to Landlord any and all documents or instruments requested by Landlord or by such lessor or lender as may be necessary or proper to assure the subordination of this Lease to such future ground lease, mortgage or deed of trust, but only if such lessor or lender agrees not to disturb Tenant's quiet possession of the Leased Premises so long as Tenant is not in default under this Lease. If Landlord assigns the Lease as security for a loan, Tenant agrees to execute such documents as are reasonably requested by the lender and to provide reasonable provisions in the Lease protecting such lender's security interest which are customarily required by institutional lenders making loans secured by a deed of trust.

Subordination to Mortgages and Ground Leases. This Lease is and all the rights of Tenant hereunder are and shall be subject to and subordinate to all the lien of any ground leasesor underlying leases and to any mortgage or mortgages, mortgages and deeds of trust whether fee or leasehold mortgages, which may now or hereafter affect the Premises or the Building or the Property and which are of public record as of land under the Effective Date of this LeaseBuilding, and to all renewals, modifications, consolidations, replacements and extensions thereof, and advances thereunder. Howeverhowever, if the lessor under Tenant agrees to execute and deliver xx Xxxdlord, within fifteen (15) days after request therefor, such Instrument(s) as may be requested by any such ground lessor, mortgagee, or trustee for such purposes (any such instrument(s) are hereinafter referred to as "Subordination Agreement"). In the event Tenant fails to execute and deliver any such Subordination Agreement within the fifteen (15) day period Tenant does hereby make, constitute and irrevocably appoint Landlord as its attorney-in-fact for the purpose of executing any such Subordination Agreement in Tenant's name, place and stead. Tenant will not do, suffer or permit any act, happening or occurrence or any condition to occur or remain which may be prohibited under the terms or provisions of any ground or underlying lease or mortgage to which this Lease is subject or which will create a default thereunder except that Tenant shall not be obligated to pay the principal indebtedness or any lender holding installment thereof or interest thereon. So long as any such mortgage or deed lease shall remain a lien on the Premises, Tenant agrees simultaneously with thx xxxxng of trust shall advise any notice to Landlord which is required to be given by this Lease, to give a duplicate copy thereof to any mortgagee or ground lessor, notice of whose name and address have been given to Tenant. Further, Tenant agrees that it desires or requires if Landlord defaults in the performing of any of its covenants under this Lease and if such default allows Tenant to be made prior cancel or surrender said Lease, the mortgagee or ground lessor may cure said default with the same effect as if cured by landlord, and superior theretoif necessary, thenenter upon the Premises for the purpose of curing any such default, upon written request of Landlord to Tenant, Tenant shall promptly execute, acknowledge and deliver any and all customary provided that the mortgagee or reasonable documents or instruments ground lessor must cure the default within the time in which Landlord and is obligated to cure such lessor or lender deems necessary or desirable to make this Lease prior thereto. Tenant hereby consents to Landlord's ground leasing the land underlying the Building or the Property and/or encumbering the Building or the Property as security for future loans on such terms as Landlord shall desire, all of which future ground leases, mortgages or deeds of trust shall be subject to and subordinate to this Lease. However, if any lessor under any such future ground lease or any lender holding such future mortgage or deed of trust shall desire or require that this Lease be made subject to and subordinate to such future ground lease, mortgage or deed of trust, then Tenant agrees, within ten days after Landlord's written request therefor, to execute, acknowledge and deliver to Landlord any and all documents or instruments requested by Landlord or by such lessor or lender as may be necessary or proper to assure the subordination of this Lease to such future ground lease, mortgage or deed of trust, but only if such lessor or lender agrees not to disturb Tenant's quiet possession of the Leased Premises so long as Tenant is not in default under this Lease. If The giving of any such notice to Landlord assigns shall not be properly given under the terms of this Lease as security for and shall be of no force and effect until a loan, Tenant agrees duplicate copy thereof shall also have been given to execute such documents as are reasonably requested by the lender and mortgagee or ground lessor pursuant to provide reasonable provisions in the Lease protecting such lender's security interest which are customarily required by institutional lenders making loans secured by a deed of trustthis Section.

Subordination to Mortgages and Ground Leases. This Lease is and all the rights of Tenant hereunder are and shall be subject to and subordinate to all the lien of any ground leasesor underlying leases and to any mortgage or mortgages, mortgages and deeds of trust whether fee or leasehold mortgages, which may now or hereafter affect the Premises or the Building or the Property and which are of public record as of land under the Effective Date of this LeaseBuilding, and to all renewals, modifications, consolidations, replacements and extensions thereof, and advances thereunder. However, if the lessor under Tenant agrees to execute and deliver to Landlord, within fifteen (15) days after request therefor, such instrument(s) as may be requested by any such ground lessor, mortgagee, or trustee for such purposes (any such instrument(s) are hereinafter referred to as "Subordination Agreement"). In the event Tenant fails to execute and deliver any such Subordination Agreement within the fifteen (15) day period Tenant does hereby make, constitute and irrevocably appoint Landlord as its attorney-in-fact for the purpose of executing any such Subordination Agreement in Tenant's name, place and stead. Tenant will not do, suffer or permit any act, happening or occurrence or any condition to occur or remain which may be prohibited under the terms or provisions of any ground or underlying lease or mortgage to which this Lease is subject or which will create a default thereunder except that Tenant shall not be obligated to pay the principal indebtedness or any lender holding installment thereof or interest thereon. So long as any such mortgage or deed lease shall remain a lien on the Premises, Tenant agrees simultaneously with the giving of trust shall advise any notice to Landlord which is required to be given by this Lease, to give a duplicate copy thereof to any mortgagee or ground lessor, notice of whose name and address have been given to Tenant. Further, Tenant agrees that it desires or requires if Landlord defaults in the performing of any of its covenants under this Lease and if such default allows Tenant to be made prior cancel or surrender said Lease, the mortgagee or ground lessor may cure said default with the same effect as if cured by Landlord, and superior theretoif necessary, thenenter upon the Premises for the purpose of curing any such default, upon written request of Landlord to Tenant, Tenant shall promptly execute, acknowledge and deliver any and all customary provided that the mortgagee or reasonable documents or instruments ground lessor must cure the default within the time in which Landlord and is obligated to cure such lessor or lender deems necessary or desirable to make this Lease prior thereto. Tenant hereby consents to Landlord's ground leasing the land underlying the Building or the Property and/or encumbering the Building or the Property as security for future loans on such terms as Landlord shall desire, all of which future ground leases, mortgages or deeds of trust shall be subject to and subordinate to this Lease. However, if any lessor under any such future ground lease or any lender holding such future mortgage or deed of trust shall desire or require that this Lease be made subject to and subordinate to such future ground lease, mortgage or deed of trust, then Tenant agrees, within ten days after Landlord's written request therefor, to execute, acknowledge and deliver to Landlord any and all documents or instruments requested by Landlord or by such lessor or lender as may be necessary or proper to assure the subordination of this Lease to such future ground lease, mortgage or deed of trust, but only if such lessor or lender agrees not to disturb Tenant's quiet possession of the Leased Premises so long as Tenant is not in default under this Lease. If The giving of any such notice to Landlord assigns shall not be properly given under the terms of this Lease as security for and shall be of no force and effect until a loan, Tenant agrees duplicate copy thereof shall also have been given to execute such documents as are reasonably requested by the lender and mortgagee or ground lessor pursuant to provide reasonable provisions in the Lease protecting such lender's security interest which are customarily required by institutional lenders making loans secured by a deed of trustthis Section.