Subordination to Sale Sample Clauses

Subordination to Sale. The Encumbrancer shall neither be obligated to pay any past or accruing payments as required in this lease, nor cure any other default of the Lessee, and this lease shall not be terminated by the Lessor during the period the Encumbrancer is proceeding to foreclose or sell the leasehold pursuant to the terms of the encumbrance where either Notice of Default and Notice of Intent to Terminate has not been received from the Lessor, or has been received and the Encumbrancer has complied with the terms and conditions herein stated, and diligently continues with said proceedings. While the Encumbrancer proceeds as above-stated with foreclosure or power of sale under the trust deed, all payments, charges and interest set forth in this lease in default by the Lessee and accruing and owing and/or rights of termination of Lessor for default or defaults by the Lessee, shall be tolled to Encumbrancer until the sale of the encumbered leasehold and improvements placed thereon by Lessee is made in said proceedings.
Sample 1
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