Common use of SUBORDINATION TO MORTGAGES Clause in Contracts

SUBORDINATION TO MORTGAGES. Lessee agrees that, upon the request of the Lessor, Lessee shall subordinate this Lease to the lien of any mortgage, security deed or deed of trust that may now or hereafter exist, for which the Buildings or Lessor’s interest in the Premises or this Lease is pledged as security, provided that the mortgagees or beneficiaries named in such mortgage or deeds of trust agree in writing (a) to recognize the interest of Lessee under this Lease, (b) that so long as Lessee shall perform its obligations under this Lease, the rights of Lessee hereunder shall remain in full force and effect, and (c) that they will not disturb Lessee’s occupancy of the Premises under this Lease in the event of foreclosure or other action taken under the mortgage or deed of trust if Lessee is not then in default. Lessee shall execute and deliver to Lessor all instruments Lessor reasonably deems necessary to evidence and give effect to any such subordination, provided that no such instrument shall alter any of the terms, covenants or conditions of this Lease, and provided that said instrument shall contain the covenants of the lender as aforesaid.

SUBORDINATION TO MORTGAGES. The Lessee agrees that, that upon the request of the Lessor, Lessee shall Lessor it will subordinate this Lease to the lien of any mortgage, security deed mortgage or deed of trust that may now or hereafter exist, exist for which the Buildings Demised Premises or Lessor’s 's interest in the Premises or this Lease is pledged as security, provided that the mortgagees or beneficiaries named in such mortgage mortgages or deeds of trust agree in writing (a) to recognize the interest of Lessee under this Lease, (b) agree that so long as Lessee shall perform its obligations under this Lease, Lease the rights of Lessee hereunder shall remain in full force and effect, and (c) agree that they will not disturb Lessee’s 's occupancy of the Demised Premises under this Lease in the event of foreclosure or other action taken under the mortgage or deed of trust if Lessee is not then in default. Lessee shall execute and deliver to Lessor all instruments Lessor reasonably deems necessary to evidence and give effect to any such subordination, provided that no such instrument shall alter any of the terms, covenants or conditions of this Lease, and provided that said instrument shall contain the covenants of the lender as aforesaid.