Subordination. (a) This Lease, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof. (b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure to execute such documents within 10 days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b).
Appears in 17 contracts
Samples: Standard Industrial Lease (Micro Therapeutics Inc), Lease Agreement (Aviation Distributors Inc), Standard Industrial Lease (Spectratek Technologies Inc)
Subordination. (a) This Lease, and any Option granted hereby, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part Industrial Center and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease and any Options granted hereby prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease and such Options shall be deemed prior to such mortgage, deed of trust, trust or ground lease, whether this Lease is or such Options are dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease or any Option granted herein prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure to execute such documents within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunder, hereunder without further notice to Lessee or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b).
Appears in 11 contracts
Samples: Standard Industrial Lease (Progenitor Inc), Standard Industrial Lease (Qad Inc), Standard Industrial Lease (Polymer Solutions Inc)
Subordination. (a) This Lease, and any Option or right of first refusal granted hereby, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part Office Building Project and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease and any Options granted hereby prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease and such Options shall be deemed prior to such mortgage, deed of trust, trust or ground lease, whether this Lease is or such Options are dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination subordination, or to make this Lease or any Option granted herein prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure to execute such documents within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunder, hereunder without further notice to Lessee or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b).
Appears in 8 contracts
Samples: Standard Office Lease (Guess Inc Et Al/Ca/), Standard Office Lease (Orthologic Corp), Standard Office Lease (Sirf Technology Inc)
Subordination. (a) This Lease, at LessorLandlord's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or for security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewalsrenewal, modifications, consolidations, replacements and extensions thereof. Notwithstanding any such subordination, LesseeTenant's right to quiet possession of the Premises shall not be disturbed if Lessee Tenant is not in default and so long as Lessee Tenant shall pay the rent and observe and perform all of the other provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee trustee, or ground lessor shall elect to have this Lease prior to the lien of its mortgage, mortgage or deed of trust or ground lease, and shall give written notice thereof to LesseeTenant, this Lease shall be deemed prior to such mortgage, deed of trust, trust or ground lease, whether this Lease is dated prior to or subsequent to the date of said such mortgage, deed of trust or ground lease lease, or the date of recording thereof.
(b) Lessee . Tenant agrees to execute any documents required to effectuate an attornment, a effect such subordination or to make this Lease prior to the lien of any mortgage, deed of trust trust, or ground lease, as the case may be. Lessee's failure , and failing to execute such documents do so within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee from Landlord does hereby make, constitute and irrevocably appoint Lessor Landlord as LesseeTenant's attorney-in-attorney in fact and in LesseeTenant's name, place and stead, stead to execute such documents in accordance with this paragraph 30(b)do so.
Appears in 5 contracts
Samples: Commercial Lease (Easyriders Inc), Commercial Lease (Easyriders Inc), Commercial Lease (Easyriders Inc)
Subordination. (a) This Lease, and any Option or right of first refusal granted hereby, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part Office Building Project and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease and any Options granted hereby prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease and such Option shall be deemed prior to such mortgage, deed of trust, trust or ground lease, whether this Lease is or such Options are dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination subordination, or to make this Lease or any Option granted herein prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure to execute such documents within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunder, hereunder without further notice to Lessee or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b).
Appears in 5 contracts
Samples: Standard Office Lease (Scheid Vineyards Inc), Standard Office Lease (Jakks Pacific Inc), Standard Office Lease (Launch Media Inc)
Subordination. (a) This LeaseUpon written request of Lessor, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trustFacility Mortgagee, or the beneficiary of any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground leaseof Lessor, and shall give Lessee will enter into a written notice thereof agreement subordinating its rights pursuant to Lessee, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(bi) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground leasethe interest of any lease in which Lessor is the lessee and to all modifications, as the case may be. Lessee's failure to execute such documents within 10 days after written demand shall constitute a material default by Lessee hereunderextensions, substitutions thereof (or, at Lessor's option, agree to the subordination to this Lease of the lien of said mortgage, deed of trust or the interest of any lease in which Lessor is the lessee), and (ii) to all advances made or hereafter to be made thereunder. In connection with any such request, Lessor shall execute provide Lessee with a "Non-Disturbance Agreement" reasonably acceptable to such documents on behalf mortgagee, beneficiary or lessor providing that if such mortgagee, beneficiary or lessor acquires the Leased Properties by way of Lessee as foreclosure or deed in lieu of foreclosure, such mortgagee, beneficiary or lessor will not disturb Lessee's attorney-in-factpossession under this Lease and will recognize Lessee's rights hereunder if and for so long as no Event of Default has occurred and is continuing. Lessee does hereby makeagrees to consent to amend this Lease as reasonably required by the Facility Mortgagee, constitute and irrevocably appoint Lessor as shall be deemed to have unreasonably withheld or delayed its consent if the required changes do not materially (i) alter the economic terms of this Lease, (ii) diminish the rights of Lessee's attorney, or (iii) increase the obligations of Lessee, provided that Lessee shall also have received the non-in-fact and disturbance agreement provided for in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b)Article.
Appears in 4 contracts
Samples: Master Lease (Williams Communications Group Inc), Master Lease Agreement (Williams Companies Inc), Purchase and Sale Agreement (Williams Companies Inc)
Subordination. (a) This LeaseLease is and shall be prior to any mortgage recorded after the date of this Lease affecting the Building. If, at Lessor's optionhowever, shall a lender requires that this Lease be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease shall be deemed prior subordinate to such that mortgage if Landlord first obtains from the lender a written agreement that provides substantially the following: *Notwithstanding the foregoing, Tenant and Landlord agree that Tenant's name shall be painted on the front entrance glass similar to the existing names. The cost and liability for said signage shall be borne by Tenant. *As long as Tenant performs its obligations under this Lease, no foreclosure of, deed given in lieu of foreclosure of, or sale under the mortgage, and no steps or procedures taken under the mortgage, shall affect Tenant's rights under this Lease. Tenant shall attorn to any purchaser at any foreclosure sale, or to any grantee or transferee designated in any deed given in lieu of foreclosure. Tenant shall execute the written agreement and any other documents required by the lender to accomplish the purposes of this Section. If requested by the holder of any mortgage or deed of trust, Tenant shall enter into a new lease with the holder of such mortgage or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust for the balance of the term of this Lease upon the same terms and conditions set forth herein, or ground lease or the date of recording thereof.
(b) Lessee shall attorn to such party provided such party agrees to execute any documents required to effectuate an attornment, a subordination or to make recognize this Lease prior to as long as Tenant shall not be in default hereunder beyond the lien of any mortgage, deed of trust or ground lease, as period for curing the case may be. Lessee's failure to execute such documents within 10 days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b)same.
Appears in 3 contracts
Samples: Office Lease (Watchguard Technologies Inc), Office Lease (Watchguard Technologies Inc), Office Lease (Watchguard Technologies Inc)
Subordination. (a) This Lease, at Lessor's ’s option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or for security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's ’s right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated date prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a such subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure , and failing to execute such documents do so within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunderdemand, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-’s attorney in fact and in Lessee's ’s name, place and stead, to execute such documents in accordance with this paragraph 30(b)do so.
Appears in 3 contracts
Samples: Lease (Local Matters Inc.), Lease (Local Matters Inc.), Lease Agreement (Local Matters Inc.)
Subordination. (a) This Lease, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgageemortgage, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this the Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure to execute such documents within 10 days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b).
Appears in 3 contracts
Samples: Standard Industrial Lease (Alpha Technologies Group Inc), Standard Industrial Lease (Alpha Technologies Group Inc), Standard Industrial Lease (Alpha Technologies Group Inc)
Subordination. (a) This Lease, and any Option or right of first refusal granted hereby, at Lessor's Landlord’s option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part Office Building Project and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's Tenant’s right to quiet possession of the Premises shall not be disturbed if Lessee Tenant is not in default and so long as Lessee Tenant shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor Landlord shall elect to have this Lease and any Options granted hereby prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to LesseeTenant, this Lease and such Options shall be deemed prior to such mortgage, deed of trust, trust or ground lease, whether this Lease is or such Options are dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee Tenant agrees to execute any documents document required to effectuate an attornment, a subordination subordination, or to make this Lease or any Option granted herein prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's Tenant’s failure to execute such documents within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunder, Tenant hereunder without further notice to Tenant or, at Lessor's Landlord’s option, Lessor Landlord shall execute such documents on behalf of Lessee Tenant as Lessee's Tenant’s attorney-in-fact. Lessee Tenant does hereby make, constitute and irrevocably appoint Lessor Landlord as Lessee's Tenant’s attorney-in-fact and in Lessee's Tenant’s name, place and stead, to execute such documents in accordance with this paragraph 30(b).
Appears in 3 contracts
Samples: Office Lease (Obagi Medical Products, Inc.), Office Lease (Obagi Medical Products, Inc.), Office Lease (Obagi Medical Products, Inc.)
Subordination. (a) This Lease, and any Option granted hereby, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part Industrial Center and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgageemortgage, trustee or ground lessor shall elect to have this Lease and any Options granted hereby prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease and such Options shall be deemed prior to such mortgage, deed of trust, trust or ground lease, whether this Lease is or such Options are dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease or any Option granted herein prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure to execute such documents within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunder, hereunder without further notice to Lessee or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b).
Appears in 3 contracts
Samples: Standard Industrial Lease (Qad Inc), Standard Industrial Lease (Qad Inc), Standard Industrial Lease (Qad Inc)
Subordination. (a) This Lease, at LessorThe Lease and Lessee's option, tenancy shall be subject and subordinate at all times to the lien of any ground lease, mortgage, mortgage or deed of trust, or any other hypothecation or security trust now or hereafter placed upon the real property interest of which Lessor and the Premises are Premises, provided that such subordination shall be contingent upon Lessor delivering to Lessee a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, attornment and non-disturbance agreement (a) in form reasonably acceptable to Lessee's right , Lessor and the holder of such mortgage or deed of trust which shall include, but not be limited to, a provision (i) requiring the Lessor to quiet possession provide a fully executed copy of the Premises agreement to the Lessee, (ii) requiring the Lessor to promptly provide written notice to Lessee when the mortgage or deed of trust has been released by the mortgagee or trustee, (iii) that the agreement shall not be disturbed if Lessee is not modify in default and so long as Lessee shall pay any manner the rent and observe and perform all of the provisions terms of this Lease, unless this Lease is otherwise terminated pursuant to its termsand (iv) that any new owner or holder of the mortgage or deed of trust shall abide by all the terms and conditions of the Lease, and (b) executed by the holder of such mortgage or deed of trust, Lessor and Lessee. If Lessee also agrees that any mortgagee, mortgagee or trustee or ground lessor shall may elect to have this Lease a prior lien to the lien of its mortgage, mortgage or deed of trust or ground leasetrust, and shall give written notice thereof in the event of such election, and upon notification by such mortgagee or trustee to LesseeLessee to that effect, this Lease shall be deemed prior in lien to such mortgage, the said mortgage or deed of trust, or ground lease, whether this Lease is dated prior to or subsequent to the date of said mortgage, mortgage or deed of trust or ground lease or the date of recording thereof.
(b) trust. Lessee agrees to execute and deliver such instruments as may be reasonably requested by Lessor or by any documents required to effectuate an attornment, a subordination mortgagee or to make trustee subordinating this Lease prior to the lien of any mortgage, present or future mortgage or deed of trust trust, or ground lease, as may be otherwise required to carry out the case may be. Lessee's failure to execute such documents within 10 days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf intent of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b)section.
Appears in 3 contracts
Samples: Auction Purchase and Sale Agreement, Lease Agreement, Auction Purchase and Sale Agreement
Subordination. (a) a. This Lease, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust trust, or ground lease lease, or the date of recording thereof.
(b) b. Lessee agrees to execute any reasonable documents required to effectuate an attornment, a subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure to execute such documents within 10 days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b).
Appears in 3 contracts
Samples: Ground Lease Agreement (Pilgrims Pride Corp), Ground Lease Agreement (Pilgrims Pride Corp), Ground Lease Agreement (Pilgrims Pride Corp)
Subordination. (a) This LeaseLease and the rights of Lessee hereunder are subject and subordinate in all respects to all matters of record, at Lessor's optionincluding, shall without limitation, deeds of trust and all mortgages which may now or hereafter be subordinate to any ground lease, mortgage, deed of trustplaced on or affect the Demised Premises, or any other hypothecation part thereof, and/or Lessor's interest or security now or hereafter placed upon the real property of which the Premises are a part estate therein, and to each advance made and/or hereafter to be made under any and all advances made on the security thereof such mortgages, and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding , and all substitutions therefore; provided, however, that before such subordinationsubordination shall be effective as to any future mortgage or other matters, Lessee's right to quiet possession of Lessor shall cause the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground leaseother party in interest, as the case may be, to deliver to Lessee, in proper form for recording, the agreement of such mortgagee or other party that no foreclosure by such mortgagee or any other person claiming by or through or under such mortgagee (or other interest) shall disturb the possession of Lessee under this Lease so long as Lessee is not in default hereunder, and that the validity and continuance of this Lease will be recognized. Lessee's failure Concurrently with the delivery of such an agreement, Lessee agrees to execute and deliver an instrument in proper form for recording, in which Lessee agrees to and does subordinate this Lease to the liens of such documents within 10 days after written demand shall constitute a material default by mortgagees and other matters, and to all renewals, modifications, consolidations and replacements and extensions thereof, and to any persons claiming by, through or under such mortgagees or other interests. Lessee hereunder, orshall, at the request of Lessor's option, execute and deliver to any existing or future mortgagee a certificate indicating whether any claims, defenses or offsets then exist against Lessor, certifying that Lessor shall execute is not in default hereunder and that this Lease is in full force and effect and unmodified, except as specified in said certificate, indicating what rent has been paid and agreeing that this Lease may not be modified without the consent of such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b)mortgagee.
Appears in 2 contracts
Samples: Lease Agreement (Alpha Technologies Group Inc), Lease (Alpha Technologies Group Inc)
Subordination. (a) This LESSOR reserves the right to sell, assign, transfer, mortgage or convey any and all rights it may have in the building, the Leased Premises or this Lease, at Lessor's option, shall be subordinate and to subject this Lease to the lien of any ground lease, mortgage, deed of trust, or any other hypothecation or security mortgage now or hereafter placed upon the real property building or the Leased Premises. However, the subordination of which the Premises are a part and this Lease to any and all advances made on mortgage hereafter placed upon the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of building or the Leased Premises shall not be disturbed if Lessee upon the express condition that this Lease is recognized by LESSOR's mortgagee and that the rights of LESSEE hereunder shall remain in force despite any default in performance of LESSOR, or foreclosure proceedings with respect to any such mortgage, provided LESSEE is not in default in any of its obligations hereunder. Upon the request of LESSOR, LESSEE shall execute any and so long as Lessee shall pay the rent all instruments deemed by LESSOR necessary or advisable to subject and observe and perform all of the provisions of subordinate this Lease, unless and the rights given LESSEE by this Lease is otherwise terminated pursuant Lease, to its termssuch mortgages, as described above. If any mortgagee, trustee Any sale by LESSOR of the building or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, LESSOR's interest under this Lease shall be deemed prior to such mortgagerelease and discharge LESSOR from all further obligations under this Lease, deed provided that the purchaser of trust, the building or ground lease, whether LESSOR's interest under this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make shall recognize this Lease prior to and that the lien rights of any mortgageLESSEE hereunder shall remain in force and the obligations of LESSOR shall be assumed in full by the new owner, deed of trust or ground lease, as the case may be. Lessee's failure to execute despite such documents within 10 days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b)sale.
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement
Subordination. (a) This Lease, at Lessor's option, Lease and all rights of Lessee hereunder shall be subject and subordinate to the lien of any ground lease, mortgage, deed and all deeds of trusttrust that may now or hereafter affect the demised premises, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part thereof, and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and modifications or extensions thereof. Notwithstanding of any such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease shall be deemed prior to such mortgage, deed of trust. Lessee shall on demand execute, acknowledge, and deliver to Lessor without expense to Lessor, any and all instruments that may be necessary or ground lease, whether proper to subordinate this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease prior and all rights therein to the lien of any mortgage, deed such deeds of trust and each renewal, modification, or ground leaseextension. If Lessee shall fail at any time to execute, as the case may be. Lessee's failure to execute acknowledge, or deliver any such documents within 10 days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's optionsubordination instrument, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby makein addition to any other remedies available in any consequence thereof, constitute may execute, acknowledge, and irrevocably appoint Lessor deliver the same as Lessee's attorney-in-fact and in Lessee's name. Lessee hereby irrevocably makes, place constitutes, and steadappoints Lessors, their successors and assigns, its attorney-in-fact for that purpose. The Lessor, however, shall exercise its best efforts to execute arrange with the holder of any such documents underlying deed of trust for an agreement that if, by dispossess, foreclosure, or otherwise such holder, or any successor in interest, shall come into possession of the premises, or shall become owner of the premises, or take over the rights of the Lessor in the premises, it will not disturb the possession, use, or enjoyment of the leased property by the Lessee, its successors or assigns, nor disaffirm this lease or the Lessee's rights or estate hereunder, so long as all of the obligations of the Lessee are fully performed in accordance with the terms of this paragraph 30(b)Lease.
Appears in 2 contracts
Samples: Lease Agreement (Dyax Corp), Lease Agreement (Dyax Corp)
Subordination. (a) This Lease, and any Option or right of first refusal granted hereby, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part office Building Project and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is in not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease and any Options granted hereby prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease and such Options shall be deemed prior to such mortgage, deed of trust, trust or ground lease, whether this Lease is or such Options are dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination subordination, or to make this Lease or any Option granted herein prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure to execute such documents within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunder, hereunder without further notice to Lessee or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b).
Appears in 2 contracts
Samples: Standard Office Lease (San Diego Soccer Development Corp), Lease Agreement (San Diego Soccer Development Corp)
Subordination. (a) This Lease, at Lessor's option, Lessor shall be have the right to subordinate this Lease to any ground lease, mortgage, deed of trusttrust or mortgage encumbering the Premises, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all any renewals, modifications, consolidations, replacements and or extensions thereof, whenever made or recorded. Notwithstanding Lessee shall execute and deliver such instruments of subordination as Lessor shall request in order to effectuate such subordination. However, Lessee's ’s right to quiet possession of the Premises during the Term shall not be disturbed or impaired if Lessee is not in default and so long as Lessee shall pay pays the rent and observe and perform performs all of the provisions of this Lease, unless Lessee’s obligations under this Lease and is not otherwise terminated pursuant to its termsin material default. If any mortgagee, trustee deed of trust beneficiary or ground lessor shall elect mortgagee elects to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, mortgage and shall give gives written notice thereof to Lessee, this Lease shall be deemed prior to such mortgage, deed of trust, trust or ground lease, mortgage whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease mortgage or the date of recording thereof.
(b) If Lessor’s interest in the Premises is acquired by any beneficiary under a deed of trust, mortgagee, or purchaser at a foreclosure sale, Lessee agrees shall attorn to execute the transferee of or successor to Lessor’s interest in the Premises and recognize such transferee or successor as Lessor under this Lease. Lessee waives the protection of any documents required statute or rule of law which gives or purports to effectuate an attornment, a subordination or give Lessee any right to make terminate this Lease prior or surrender possession of the Premises upon the transfer of Lessor’s interest.
(c) Lessee shall sign and deliver any reasonable and customary instrument or documents necessary or appropriate to evidence the lien above attornment and subordination. Such attornment and subordination documents may contain such provisions as are customarily and reasonably required by any ground lessor, beneficiary under a deed of any trust or mortgagee, and shall include reasonable non-disturbance provisions.
(d) Upon Lessor’s written request during the Term, Lessee shall execute, acknowledge and deliver to Lessor a written statement certifying: (i) that none of the terms or provisions of this Lease have been changed (or if they have been changed, stating how they have been changed); (ii) that this Lease has not been cancelled or terminated; (iii) the last date of payment of the Base Rent and other charges and the time period covered by such payment; (iv) that Lessor is not in default under this Lease (or, if Lessor is claimed to be in default, stating why); and (v) such other matters as may be reasonably required by Lessor or the holder of a mortgage, deed of trust or ground lease, as lien to which the case may bePremises is or becomes subject. Lessee's failure Lessee shall deliver such statement to execute such documents Lessor within 10 ten (10) days after written demand shall constitute a material default Lessor’s request. Any such statement by Lessee hereundermay be given by Lessor to any prospective purchaser or encumbrancer of the Premises. Such purchaser or encumbrancer may rely conclusively upon such statement as true and correct. In addition, orLessee agrees to deliver to any lender with whom Lessor is refinancing the Premises, at Lessor's optionon a strictly confidential basis, Lessor shall execute the Lessee’s most current financial statements then available, for the purpose of facilitating such documents on behalf lender’s refinance of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b)the Premises.
Appears in 2 contracts
Samples: Lease and Services Agreement, Lease and Services Agreement
Subordination. (a) This Lease, and any Option or right of first refusal granted hereby, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part Office Building Project and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease and any Options granted hereby prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease and such Options shall be deemed prior to such mortgage, deed of trust, trust or ground lease, whether this Lease is or such Options are dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination subordination, or to make this Lease or any Option granted herein prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's =s failure to execute such documents within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunder, hereunder without further notice to Lessee or, at Lessor's =s option, Lessor shall execute such documents on behalf of Lessee as and Lessee's =s attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's =s attorney-in-fact and in Lessee's =s name, place and stead, to execute such documents in accordance with this paragraph 30(b).
Appears in 2 contracts
Samples: Full Service Lease (Document Capture Technologies, Inc.), Full Service Lease (Document Capture Technologies, Inc.)
Subordination. (a) This Lease, at Lessor's Landlord’s option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's Xxxxxx’s right to quiet possession of the Premises shall not be disturbed if Lessee Tenant is not in default and so long as Lessee Tenant shall pay the rent Rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to LesseeTenant, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust trust, or ground lease lease, or the date of recording thereof.
(b) Lessee Xxxxxx agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's Tenant’s failure to execute such documents within 10 ten (10) days after written demand shall constitute a material default breach by Lessee Tenant hereunder, or, at Lessor's Landlord’s option, Lessor Landlord shall execute such documents on behalf of Lessee Tenant as Lessee's Xxxxxx’s attorney-in-fact. Lessee Tenant does hereby make, constitute and irrevocably appoint Lessor Landlord as Lessee's Xxxxxx’s attorney-in-fact and in Lessee's Xxxxxx’s name, place and stead, to execute such documents in accordance with this paragraph 30(b)paragraph.
Appears in 2 contracts
Samples: Lease Agreement, Retail Lease
Subordination. (a) This Lease, at Lessor's ’s option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or for security now or hereafter placed upon the real property of which the Premises are a part Building and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If Lessor or any mortgagee, trustee trustee, or ground lessor shall elect to have this Lease prior to the lien of its a mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease shall be deemed prior to any such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a such subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure be (including, without limitation, a Subordination, Non-Disturbance and Attornment Agreement in the standard form used by Lessor’s lender), and failing to execute such documents do so within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunderdemand, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute constitute, and irrevocably appoint Lessor as Lessee's attorney-in-’s attorney in fact and in Lessee's ’s name, place and stead, to execute do so. Upon Lessee’s written request to Lessor, Lessor shall request that it’s lender issue to Lessee a non-disturbance agreement on such documents lender’s standard form; provided, however, the failure of such lender to issue such a non-disturbance agreement shall in accordance with no way affect Lessee’s obligations under this paragraph 30(b)Lease, including this Section 12.1.
Appears in 2 contracts
Samples: Colocation Lease (Overstock Com Inc), Colocation Lease (Overstock Com Inc)
Subordination. (a) This Lease, at Lessor's option, Lease shall be subject and subordinate at all times to the lien of any ground lease, mortgage, deed of trust, trust or any other hypothecation or security encumbrance(s) that may now or hereafter placed at any time be made upon the real property Parking Facility or Landlord’s interest in the Parking Facility. Tenant shall execute and deliver any instrument(s) required in connection with subordinating this Lease to the lien of which any such deed of trust or other encumbrance(s) as shall be desired by any party secured thereby. If Landlord’s interest under this Lease is transferred by reason of foreclosure or other enforcement proceedings, Tenant shall be bound to the Premises are a part transferee under the terms, covenants and to any and all advances made on conditions of this Lease for the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession remainder of the Premises Term and agrees to attorn to the transferee.
(b) So long as no Event of Default has occurred, this Lease shall remain in full force and effect for the full Term hereof, and Tenant’s occupancy of and rights to use the Leased Spaces shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all by termination of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease shall be deemed prior to by foreclosure or any such mortgage, deed of trust, or by any foreclosure proceeding or any deed in lieu of foreclosure or other such transfer, and the subordination set forth in Section 7.4(a) is made subject to Tenant’s non-disturbance rights under this Section 7.4(b). If required by Tenant’s lender, Landlord shall cause its mortgagee and/or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees lessor to execute any documents required and deliver a subordination, non-disturbance and attornment agreement, in form and substance reasonably acceptable to effectuate an attornment, a subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground leaseall parties, as soon as reasonably possible after the case may beexecution hereof. Lessee's failure Tenant shall be required to execute such documents within 10 days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorneynon-in-fact. Lessee does hereby make, constitute disturbance and irrevocably appoint Lessor as Lessee's attorney-in-fact and attornment agreement in Lessee's name, place and stead, order for this Section 7.4(b) to execute such documents in accordance with this paragraph 30(b)be effective.
Appears in 2 contracts
Subordination. (a) This Lease, at LessorLandlord's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or for security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If Landlord or any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgagea mortgagee, deed of trust or ground lease, and shall give written notice thereof to LesseeTenant, this Lease shall be deemed prior to such mortgage, deed of trust, trust or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to Tenant shall execute any documents required to effectuate an attornment, a such subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lesseebe (including, without limitation, a Subordination, Non-Disturbance and Attornment Agreement in the standard form used by Landlord's failure lender), and failing to execute such documents do so within 10 ten (10) days after written demand shall constitute a material default by Lessee hereundertherefor, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute constitute, and irrevocably appoint Lessor Landlord as LesseeTenant's attorney-in-attorney in fact and in LesseeTenant's name, place and stead, to execute do the same. Upon Tenant's written request to Landlord, Landlord shall request that its lender issue to Tenant a non-disturbance agreement on such documents lender's standard form; provided, however, the failure of such lender to issue a non-disturbance agreement shall in accordance with no way affect Tenant's obligations under this paragraph 30(b)Lease.
Appears in 2 contracts
Samples: Lease Agreement (Adept Technology Inc), Lease Agreement (Adept Technology Inc)
Subordination. (a) This Lease, at LessorLandlord's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Leased Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, LesseeTenant's right to quiet possession of the Leased Premises and any options to renew or purchase shall not be disturbed if Lessee Tenant is not in default and so long as Lessee Tenant shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to LesseeTenant, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee Tenant agrees to execute any documents reasonably required to effectuate an attornment, a subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. LesseeTenant's failure to execute such documents within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor shall entitle Landlord to execute such documents on behalf of Lessee Tenant as LesseeTenant's attorney-in-in- fact. Lessee Tenant does hereby make, constitute and irrevocably appoint Lessor Landlord as LesseeTenant's attorney-in-fact and in LesseeTenant's name, place and stead, to execute such documents in accordance with this paragraph 30(bParagraph 16(b).
Appears in 2 contracts
Samples: Industrial Building Lease (Motors & Gears Inc), Industrial Building Lease (Motors & Gears Inc)
Subordination. (a) This Leasea. Subordinate Nature. Except as provided in Subsection b., at Lessor's option, shall be this Lease is ------------------ subject and subordinate to any all ground leaseand underlying leases, mortgage, deed mortgages and deeds of trust, trust which now or may hereafter affect the Real Property or any other hypothecation or security now or hereafter placed upon portion thereof, to the real property of which the Premises are a part and to any and all advances made on the security thereof CC&R's, and to all renewals, modifications, consolidations, replacements and extensions thereofof the foregoing, without the necessity of any further documentation evidencing such subordination. Notwithstanding such self- operative subordination, Lesseewithin ten (10) Business Days after Landlord's right to quiet possession written request therefor, Tenant shall execute any and all documents required by Landlord, the lessor under any ground or underlying lease ("Ground Lessor"), or the holder or holders of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee mortgage or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease("Holder"), and shall give written notice thereof to Lessee, evidencing this Lease shall to be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease prior subordinate to the lien of any mortgagesuch lease, mortgage or deed of trust or ground leasetrust, as the case may be. Lessee's failure to execute such documents within 10 days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee Tenant hereby irrevocably appoints Landlord as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as LesseeXxxxxx's attorney-in-fact and in Lessee's name, place and stead, to execute and deliver any such documents instrument in accordance with the name of Tenant if Tenant fails to do so within such time. If the interest of Landlord in the Real Property or the Buildings is transferred to any Ground Lessor or Holder pursuant to or in lieu of proceedings for enforcement of any such lease, mortgage, or deed of trust, Tenant shall immediately and automatically attorn to the Ground Lessor or Holder, and this paragraph 30(b)Lease shall continue in full force and effect as a direct lease between the Ground Lessor or Holder and Tenant on the terms and conditions set forth herein.
Appears in 2 contracts
Subordination. (a) This Lease, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or for security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgageemortgage, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a such subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure , and failing to execute such documents do so within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunderdemand, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-attorney in fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b)do so.
Appears in 2 contracts
Samples: Standard Industrial Lease (Alpha Technologies Group Inc), Standard Industrial Lease (Rosetta Inpharmatics Inc)
Subordination. (a) This Lease, at LessorLandlord's option, shall be ------------- subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part (or upon Landlord's leasehold interest in such real property) and to any and all advances advance made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, LesseeTenant's right to quiet possession of the Premises shall not be disturbed by Landlord or any person succeeding to Landlord's interest in the Premises if Lessee Tenant is not in default and so long as Lessee Tenant shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to LesseeTenant, this Lease shall be deemed prior to such mortgage, deed of trust, trust or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee Tenant agrees to execute any documents required to effectuate an attornment, a such subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure , and failing to execute such documents do so within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunderdemand, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor Landlord as LesseeTenant's attorney-in-fact and in LesseeTenant's name, place and stead, to execute such documents in accordance with this paragraph 30(b)do so.
Appears in 2 contracts
Samples: Lease Agreement (Citysearch Inc), Lease Agreement (Ticketmaster Online Citysearch Inc)
Subordination. (a) This Lease, at LessorLandlord's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or for security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, LesseeTenant's right to quiet possession of the Premises shall not be disturbed if Lessee Tenant is not in default and so long as Lessee Tenant shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to LesseeTenant, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease lease, or the date of recording thereof.
(b) Lessee Tenant agrees to execute and deliver any documents required to effectuate an attornment, a such subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure , and failing to execute such documents do so within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunderdemand, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor Landlord as LesseeTenant's attorney-in-fact and in LesseeTenant's name, place and stead, to execute such documents in accordance with this paragraph 30(b)do so.
Appears in 2 contracts
Samples: Lease Agreement (Celebrate Express, Inc.), Lease Agreement (Celebrate Express, Inc.)
Subordination. (a) a. This Lease, at Lessor's Lessors option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter hereinafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) b. Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure to execute such documents within 10 days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's Lessors option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b31(b).
Appears in 2 contracts
Samples: Standard Industrial Lease (Optical Access Inc), Standard Industrial Lease (Optical Access Inc)
Subordination. (a) This Lease, at Lessor's ’s option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's ’s right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust trust, or ground lease, and shall give written notice thereof to Lessee, this Lease shall be deemed prior to such mortgage, deed of trust, trust or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's ’s failure to execute such documents within 10 days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's ’s option, Lessor shall execute such documents on behalf of Lessee as Lessee's ’s attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's ’s attorney-in-fact and in Lessee's ’s name, place and stead, to execute such documents in accordance with this paragraph 30(b).
Appears in 2 contracts
Samples: Standard Industrial Lease (Patriot Motorcycle Corp), Standard Industrial Lease (Patriot Motorcycle Corp)
Subordination. (a) This Lease, at LessorLandlord's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or for security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewalsrenewal, modifications, consolidations, replacements and extensions thereof. Notwithstanding any such subordination, LesseeTenant's right to quiet possession of the Premises and other rights under this Lease shall not be disturbed and shall be recognized if Lessee Tenant is not in default and so long as Lessee Tenant shall pay the rent and observe and perform all of the other provisions of this LeaseLease within the periods of grace provided for herein, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee trustee, or ground lessor shall elect to have this Lease prior to the lien of its mortgage, mortgage or deed of trust or ground lease, and shall give written notice thereof to LesseeTenant, this Lease shall be deemed prior to such mortgage, deed of trust, trust or ground lease, whether this Lease is dated prior to or subsequent to the date of said such mortgage, deed of trust or ground lease lease, or the date of recording thereof.
(b) Lessee . Tenant agrees to execute any documents required to effectuate an attornment, a effect such subordination or to make this Lease prior to the lien of any mortgage, deed of trust trust, or ground lease, as the case may be. Lessee's failure , and failing to execute such documents do so within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee from Landlord does hereby make, constitute and irrevocably appoint Lessor Landlord as LesseeTenant's attorney-in-attorney in fact and in LesseeTenant's name, place and stead, stead to execute such documents in accordance with this paragraph 30(b)do so.
Appears in 2 contracts
Samples: Lease Agreement (Fair Isaac & Company Inc), Lease Agreement (Fair Isaac & Company Inc)
Subordination. (a) This Lease, at Lessor's option, shall be Lease and Xxxxxx’s rights under this Lease are subject and subordinate to any ground or underlying lease, mortgage, indenture, deed of trust, or other lien or encumbrance (each a “superior lien”), together with any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, extensions, modifications, consolidations, and replacements of such superior lien, now or after the date affecting or placed, charged or enforced against the Leased Premises, or all or any portion thereof or any interest of Landlord in them or Landlord’s interest in this Lease and extensions thereofthe leasehold estate created by this Lease (except to the extent any such instrument expressly provides that this Lease is superior to such instrument). This provision will be self-operative and no further instrument of subordination will be required in order to affect it. Notwithstanding the foregoing, Xxxxxx will execute, acknowledge, and deliver to Landlord, within twenty (20) business days after written demand by Landlord, such documents as may be reasonably requested by Landlord or the holder of any superior lien to confirm or effect any such subordination, Lessee's provided that any such superior lien holder agrees that this Lease shall remain in effect and Xxxxxx’s right to possession and quiet possession of the Premises shall enjoyment will not be disturbed if Lessee for the full Term (as may be extended) as long as Tenant is not in default and so long as Lessee shall pay under this Lease. Landlord covenants to timely perform the rent and observe and perform all terms of the provisions City Lease such that Tenant shall enjoy peaceful possession of the Leased Premises throughout the Term of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease Landlord warrants there are no mortgages on the Leased Premises prior to the lien interests of its mortgage, deed Tenant at the execution of trust or ground lease, and shall give written notice thereof to Lessee, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereofLease.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure to execute such documents within 10 days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b).
Appears in 2 contracts
Samples: Sublease Agreement, Sublease Agreement
Subordination. (a) This Lease, and any Option or right of first refusal granted hereby, at Lessor's ’s option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part Office Building Project and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's ’s right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease and any Options granted hereby prior to the lien of its mortgage, . deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease and such Options shall be deemed prior to such mortgage, deed of trust, trust or ground lease, whether this Lease is or such Options are dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination subordination, or to make this Lease or any Option granted herein prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's ’s failure to execute such documents within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunder, hereunder without further notice to Lessee or, at Lessor's ’s option, Lessor shall execute such documents on behalf of Lessee as Lessee's ’s attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's ’s attorney-in-fact and in Lessee's ’s name, place and stead, to execute such documents in accordance with this paragraph 30(b).
Appears in 2 contracts
Samples: Standard Office Lease (Elastic N.V.), Standard Office Lease (Elastic N.V.)
Subordination. (a) This Lease, at LessorLandlord's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or for security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewalsrenewal, modifications, consolidations, replacements and extensions thereof. Notwithstanding any such subordination, LesseeTenant's right to quiet possession of the Premises shall not be disturbed if Lessee Tenant is not in default and so long as Lessee Tenant shall pay the rent and observe and perform all of the other provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee trustee, or ground lessor shall elect to have this Lease prior to the lien of its mortgage, mortgage or deed of trust or ground lease, and shall give written notice thereof to LesseeTenant, this Lease shall be deemed prior to such mortgage, deed of trust, trust or ground lease, whether this Lease is dated prior to or subsequent to the date of said such mortgage, deed of trust or ground lease lease, or the date of recording thereof.
(b) Lessee . Tenant agrees to execute any documents required requiring to effectuate an attornment, a effect such subordination or to make this Lease prior to the lien of any mortgage, deed of trust trust, or ground lease, as the case may be. Lessee's failure , and failing to execute such documents do so within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee from Landlord does hereby make, constitute and irrevocably appoint Lessor Landlord as LesseeTenant's attorney-in-attorney in fact and in Lessee's Tenant s name, place and stead, stead to execute such documents in accordance with this paragraph 30(b)do so.
Appears in 2 contracts
Samples: Commercial Lease (Hit Entertainment Inc), Commercial Lease (Hit Entertainment Inc)
Subordination. (a) This Lease, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises Premised shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease Lese prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure to execute such documents within 10 days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b).
Appears in 2 contracts
Samples: Standard Industrial Lease (Butterfield & Butterfield Auctioneers Corp), Standard Industrial Lease (Butterfield & Butterfield Auctioneers Corp)
Subordination. (a) 37.1 This Lease, at LessorLESSOR's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are LEASED PREMISES is a part and to any and all advances made on the security thereof hereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, LesseeLESSEE's right to quiet possession of the Premises LEASED PREMISES shall not be disturbed if Lessee LESSEE is not in default and so long as Lessee LESSEE shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to LesseeLESSEE, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or to subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee 37.2 LESSEE agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. LesseeLESSEE's failure to execute such documents within 10 days after written demand shall constitute a material default by Lessee LESSEE hereunder, or, at LessorLESSOR's option, Lessor LESSOR shall execute such documents on behalf of Lessee LESSEE as LesseeLESSEE's attorney-in-fact. Lessee LESSEE does hereby make, constitute constitute, and irrevocably appoint Lessor LESSOR as LesseeLESSEE's attorney-in-fact and in LesseeLESSEE's name, place and stead, to execute such documents in accordance with this paragraph 30(b)Paragraph 37.2.
Appears in 2 contracts
Samples: Office Lease (Merge Technologies Inc), Office Lease (Merge Technologies Inc)
Subordination. (a) This Lease, at LessorLease and Tenant's option, rights hereunder shall be subject and subordinate at all times in lien and priority to any ground lease, mortgage, deed of trust, first mortgage or any other hypothecation or security primary encumbrance now or hereafter placed upon or affecting the real property of which Property or the Premises are a part Premises, and to any and all advances made on second mortgage or encumbrance with the security thereof consent of the first mortgagee, and to all renewals, modifications, consolidations, replacements consolidations and extensions thereof, without the necessity of any further instrument or act on the part of Tenant. Notwithstanding such subordination, Lessee's right to quiet possession of Tenant shall execute and deliver upon demand any further instrument or instruments confirming the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions subordination of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its any such first mortgage or to the lien of any other mortgage, deed if requested to do so by Landlord with the consent of trust or ground leasethe first mortgagee, and shall give written any further instrument or instruments of attornment that may be desired by any such mortgagee or Landlord, provided, however, that any holder of such lien or mortgage agrees not to disturb the use and occupancy of the Premises in accordance with the terms of this Lease Agreement upon any foreclosure. Notwithstanding the foregoing, any mortgagee may at any time subordinate its mortgage to this Lease, without Tenant's consent, by giving notice thereof in writing to Lessee, Tenant and thereupon this Lease shall be deemed prior to such mortgage, deed mortgage without regard to their respective dates of trust, or ground lease, whether execution and delivery. In that event such mortgagee shall have the same rights with respect to this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make as though this Lease had been executed prior to the lien execution and delivery of the mortgage and had been assigned to such mortgagee. Landlord agrees that it will use best efforts to obtain and deliver to Tenant then holder(s) of any mortgagemortgage or other security interest affecting the Premises of Building. In the event Landlord fails to deliver such instrument, deed Tenant shall have the right to terminate this Lease Agreement by delivery of trust or ground lease, as the case may be. Lessee's failure written notice thereof to execute such documents within 10 days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b)Landlord.
Appears in 2 contracts
Samples: Office Space Lease (Nco Group Inc), Office Space Lease (CRW Financial Inc /De)
Subordination. (a) This LeaseUpon written request of Lessor, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trustFacility Mortgagee, or the beneficiary of any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground leaseof Lessor, and shall give Lessee will enter into a written notice thereof agreement subordinating its rights pursuant to Lessee, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(bi) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground leasethe interest of any lease in which Lessor is the lessee and to all modifications, as the case may be. Lessee's failure to execute such documents within 10 days after written demand shall constitute a material default by Lessee hereunderextensions, substitutions thereof (or, at Lessor's option, agree to the subordination to this Lease of the lien of said mortgage, deed of trust or the interest of any lease in which Lessor is the lessee), and (ii) to all advances made or hereafter to be made thereunder. In connection with any such request, Lessor shall execute provide Lessee with a "Non-Disturbance Agreement" reasonably acceptable to such documents on behalf mortgagee, beneficiary or lessor providing that if such mortgagee, beneficiary or lessor acquires the Leased Properties by way of Lessee as foreclosure or deed in lieu of foreclosure, such mortgagee, beneficiary or lessor will not disturb Xxxxxx's possession under this Lease and will recognize Lessee's attorneyrights hereunder if and for so long as no Event of Default has occurred and is continuing. Xxxxxx agrees to consent to amend this Lease as reasonably required by any Facility Mortgagee, and shall be deemed to have unreasonably withheld or delayed its consent if the required changes do not materially (i) alter the economic terms of this Lease, (ii) diminish the rights of Lessee, or (iii) increase the obligations of Lessee, provided that Lessee shall also have received the non-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and disturbance agreement provided for in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b)Article.
Appears in 2 contracts
Samples: Master Lease (Omega Healthcare Investors Inc), Master Lease (Omega Healthcare Investors Inc)
Subordination. (a) This Lease, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure to execute such documents within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph Paragraph 30(b).
Appears in 2 contracts
Samples: Industrial Lease (Viper Networks Inc), Industrial Lease (Viper Networks Inc)
Subordination. (a) This Lease, at Lessor's option, Lease shall be subordinate subordinated to any ground lease, mortgage, deed of trust, mortgages that may now exist or any other hypothecation or security now or that may hereafter be placed upon the real property of which the Demised Premises are a part and to any and all advances made on thereunder, and to the security thereof interest upon the indebtedness evidenced by such mortgages, and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding In the event of execution by Landlord after the date of this Lease of any such subordinationmortgage, Lessee's right renewal, replacement or extension, Tenant agrees to quiet possession of execute a subordination agreement with the Premises holder thereof in such form as Landlord reasonably requests, including but not limited to provisions to the effect that: a. Such mortgage holder shall not be disturbed if Lessee disturb the possession and other rights of Tenant under this Lease so long as Tenant is not in default hereunder beyond the applicable cure period specified in this Lease; b. In the event of acquisition of title to the Demised Premises by such mortgage holder, then such holder shall accept Tenant as lessee of the Demised Premises under the terms and so long as Lessee conditions of this Lease and shall pay the rent and observe and perform all the obligations of Landlord hereunder; and c. Tenant shall recognize such holder as Landlord hereunder. Tenant shall, within fifteen (15) days of receipt of a request from Landlord therefor, execute and deliver to Landlord or to any proposed holder of a mortgage or trust deed or to any proposed purchaser of the provisions of Property a certificate in such form as Landlord reasonably requests, certifying that this Lease is in full force and effect and that there are no offsets against rent nor defenses to Tenant's performance under this Lease, unless this Lease is otherwise terminated pursuant to its terms. If or setting forth any mortgagee, trustee such offsets or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground leasedefenses claimed by Tenant, as the case may be. Lessee's failure to execute such documents within 10 days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b).
Appears in 2 contracts
Samples: Office/Warehouse Lease (Possis Medical Inc), Office/Warehouse Lease (Possis Medical Inc)
Subordination. (a) This Lease, at Lessor's option, Lease shall be and hereby is declared to be subject to and subordinate to any ground lease, mortgage, deed mortgages and/or deeds of trust, or any other hypothecation or security trust ( “Mortgage”) now or at any time hereafter placed constituting a lien or charge upon the real property of which Premises, the Premises are a part improvements situated thereon, the Building or the Land, and to any and all advances made on the security thereof and to all increases, renewals, modifications, consolidations, replacements and extensions of thereof. Notwithstanding Xxxxxx agrees to attorn to the Landlord’s current or future mortgagees (“Mortgagee”) or to any transferee, purchaser, lessor or beneficiary (“Landlord Successor”) following any foreclosure, sale or transfer in lieu thereof. The provisions of this Article 13.01 shall be self-operative, and no further instrument shall be required to effect such subordinationsubordination of this Lease. Within ten (10) days after request, Lessee's right however, Tenant shall execute and deliver to quiet any Mortgagee or Landlord Successor, a Subordination, Non-Disturbance and Attornment Agreement (“SNDA”) confirming the subordination of the Lease and containing other terms and conditions satisfactory to such Mortgagee or Landlord Successor; provided, that the SNDA (a) provides that Tenant’s use or possession of the Premises shall not be disturbed if Lessee so long as Tenant is not in default under this Lease beyond any applicable periods for notice and cure, and (b) does not materially increase Tenant’s obligations hereunder. Notwithstanding any foreclosure or sale under any mortgage or deed of trust (or transfer by deed in lieu thereof), so long as Lessee shall pay the rent Tenant is not in default beyond any applicable periods for notice and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lesseecure, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereofremain in full force and effect.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure to execute such documents within 10 days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b).
Appears in 2 contracts
Samples: Lease Agreement (Lakeside Holding LTD), Lease Agreement (Lakeside Holding LTD)
Subordination. (a) This Lease, at Lessor's option, shall be subordinate Lessor represents and warrants to any ground lease, mortgage, deed of trustLessee that Lessor is, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not will be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien Commencement of its mortgageConstruction (as defined in Paragraph 31) of the Building, deed the sole owner in fee simple of trust or ground leasethe Demised Premises, and shall give written notice thereof to Lessee, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to that on the date of said mortgage, deed Lessor's acquisition of title to the Demised Premises there are no mortgages or deeds of trust or ground lease or which encumber the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Demised Premises. This Lease prior is subordinated at all times to the lien of any mortgagemortgages or deeds of trust hereafter placed upon Lessor's interest in the Demised Premises and upon the land or Demised Premises of which the Demised Premises are a part, or upon any other building hereafter placed on the property. Lessee covenants and agrees to execute and deliver, upon request of the Lessor, such further instruments evidencing such subordination as may be reasonably required by any such mortgagee or lender, title company or Lessor's counsel. This agreement to subordinate is expressly conditioned upon Lessor first obtaining from any such mortgagee or lender a written agreement that provides substantially the following:
a. As long as Lessee performs its obligations under this Lease, no foreclosure of, deed given in lieu of trust foreclosure of, or ground leasesale under the encumbrance, and no steps or procedures taken under the encumbrance, shall affect Lessee's rights under this Lease. Lessee, as a condition of subordination, will receive from Lender an attornment and non-disturbance agreement in a form reasonably acceptable to Lessee.
b. The provisions of this Lease concerning the case may be. Lessee's failure disposition of any condemnation award, shall prevail over any conflicting provisions in the encumbrance.
c. Lessee shall attorn to execute such documents within 10 days after written demand shall constitute a material default by Lessee hereunderany purchaser at any foreclosure sale, or, at Lessor's option, Lessor shall execute such documents on behalf or to any grantee or transferee designated in any deed given in lieu of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b)foreclosure.
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement (Esterline Technologies Corp)
Subordination. (a) This Leaselease, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding thereof (collectively, an "Instrument"), provided that, as a condition precedent to such subordinationsubordination to any Instrument executed after the Effective Date, the ground lessee, mortgagee or beneficiary thereunder agrees in a writing delivered to Lessee that Lessee's right to quiet possession of the Premises shall not be disturbed if so long as Lessee is not in default and so long as Lessee shall pay continuing uncured beyond the rent and observe and perform all expiration of the provisions of this Leaseany applicable grace period, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said such mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents reasonably required to effectuate an attornment, a subordination or to make this Lease Lessee prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure to execute such documents within 10 business days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b).
Appears in 2 contracts
Samples: Lease (Graphic Controls Corp), Lease (Graphic Controls Corp)
Subordination. (a) This That Lease, at LessorLandlord's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or for security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, LesseeTenant's right to quiet possession of the Premises shall not be disturbed if Lessee Tenant is not in default and so long as Lessee Tenant shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgageemortgages, trustee or ground lessor lesse shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to LesseeTenant, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee Tenant agrees to execute any documents required to effectuate an attornment, a such subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure , and failing to execute such documents do so within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunderdemand, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor Landlord as LesseeTenant's attorney-in-attorney in fact and in LesseeTenant's name, place and stead, to execute such documents in accordance with this paragraph 30(b)do so.
Appears in 2 contracts
Samples: Industrial Lease (Esterline Technologies Corp), Industrial Lease (Esterline Technologies Corp)
Subordination. (a) This Lease, at Lessor's option, Lease shall be subordinate to any present or future ground lease, lease and mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part . This clause shall be self-operative and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereofno further instrument shall be required. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions self-operative nature of this Leaseclause, unless upon Landlord’s request, at any time and from time to time, Tenant shall (i) confirm in writing and in recordable form that this Lease is otherwise terminated pursuant subordinate to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereofmortgage and/or (ii) execute a commercially reasonable instrument making this lease subordinate to any ground lease or mortgage, in such form as may be required by an applicable ground lessor or mortgagee.
(b) Lessee At Tenant’s request and expense, Landlord shall request in writing from any mortgagee (and use commercially reasonable efforts to obtain) a commercially reasonable form of non-disturbance agreement in favor of the Tenant for so long as the Tenant is not in default under this Lease, and provided the Tenant agrees to execute any documents required attorn to effectuate an attornment, a subordination or the said mortgagee pursuant to make the executory provisions of this Lease prior in the event it comes into possession of the premises. However, the failure to the lien of obtain same shall not in any mortgage, deed of trust or ground leaseway impair Section 10.02(a). Landlord represents to Tenant that, as of the date of this Lease, (a) there is no ground lease encumbering the Property or Demised Premises and (b) the only Mortgagee is Amhurst Capital.
(c) Landlord shall have the right to assign Tenant’s Rent payments to any Mortgagee in which case may be. Lessee's failure Tenant, upon Landlord’s written notice, shall make payments directly to execute such documents within 10 days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b)assignee.
Appears in 2 contracts
Samples: Lease Agreement (Agile Therapeutics Inc), Lease Agreement (Agile Therapeutics Inc)
Subordination. (a) This Lease, at Lessor's option, shall be Tenant agrees that this Lease is subject and subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof ground or underlying leases and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease prior to the lien of any mortgage, deed first mortgages or deeds of trust now on or ground leasewhich at any time may be made a lien upon the Building, as or any part thereof, and to all advances made or hereafter to be made upon the case may besecurity thereof. Lessee's failure This subordination provision shall be self-operative and no further instrument of subordination shall be required. Tenant agrees to execute and deliver, upon request, within five (5) days demand by Landlord, such documents within 10 days after written demand further instrument or instruments confirming this subordination as shall constitute a material default be desired by Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee Landlord or by any mortgagee or proposed mortgagee; and Tenant hereby constitutes and appoints Landlord as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as LesseeTenant's attorney-in-fact and in Lessee's name, place and stead, to execute any such documents in accordance instrument or instruments. Upon Tenant's written request, Landlord shall use its best efforts to acquire from any such mortgagee an agreement that any proceeding to foreclose, sell or any other action taken under the mortgage shall not affect Tenant's rights to continue to occupy the Leased Premises and exercise and enjoy all of its rights hereunder so long as Tenant complies with the terms and provisions of this paragraph 30(b)Lease, and continues to make the payments required here-under to the appropriate designated party, provided, Landlord's failure to acquire such an agreement shall not mitigate Tenant's obligations hereunder. Tenant further agrees that, at the option of the holder of any first mortgage or of the trustee under any first deed of trust, this Lease may be made superior to said first mortgage or first deed of trust by the insertion therein of a declaration that this Lease is superior thereto.
Appears in 2 contracts
Samples: Office Lease (Ea Engineering Science & Technology Inc), Office Lease (Ea Engineering Science & Technology Inc)
Subordination. (a) This Lease, at Lessor's option, Landlord shall have the right to cause this Lease to be and remain subject and subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on mortgages, deeds of trust and ground leases, if any ("Encumbrances") that are now or may hereafter be executed covering the security thereof and to all Premises, or any renewals, modifications, consolidations, replacements and or extensions thereof. Notwithstanding , for the full amount of all advances made or to be made thereunder and without regard to the time or character of such subordinationadvances, Lessee's right together with interest thereon and subject to quiet possession all the terms and provisions thereof; provided only, that in the event of termination of any such ground lease or upon the Premises shall not be disturbed if Lessee foreclosure of any such mortgage or deed of trust, so long as Tenant is not in default and so default, the holder thereof ("Holder") shall agree to recognize Tenant's rights under this Lease as long as Lessee Tenant shall pay the rent Rent and observe and perform all of the provisions of this LeaseLease to be observed and performed by Tenant. Within ten (10) days after Landlord's written request, unless this Lease is otherwise terminated pursuant Tenant shall execute, acknowledge and deliver any and all reasonable documents required by Landlord or the Holder to its termseffectuate such subordination. If any mortgageeTenant fails to do so, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure to execute such documents within 10 days after written demand shall constitute a material default Default by Lessee hereunderTenant under this Lease. Notwithstanding anything to the contrary set forth in this Paragraph 31, orTenant hereby attorns and agrees to attorn to any person or entity purchasing or otherwise acquiring the Premises at any sale or other proceeding or pursuant to the exercise of any other rights, at Lessor's option, Lessor shall execute powers or remedies under such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b)Encumbrance.
Appears in 2 contracts
Samples: Lease Agreement (PLX Technology Inc), Lease Agreement (Arthrocare Corp)
Subordination. (a) This LeaseTenant shall, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property request of which the Premises are a part and to any and all advances made on the security thereof and to all renewalsLandlord in writing, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless subordinate this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease prior to the lien of any present or future institutional mortgage upon the Leased Premises irrespective of the time of execution or the time of recording of any such mortgage. Provided, deed however, that as a condition to such subordination, the holder of any such mortgage shall enter first into a written agreement with Tenant in form suitable for recording to the effect that:
i. in the event of foreclosure or other action taken under the mortgage by the holder thereof, this Lease and the rights of Tenant hereunder shall not be disturbed but shall continue in full force and effect so long as Tenant shall not be in default hereunder
ii. such holder shall permit insurance proceeds and condemnation proceeds to be used for any restoration and repair required by the provisions of this Agreement, respectively. Tenant agrees that if the mortgagee or any person claiming under the mortgagee shall succeed to the interest of Landlord in this Lease, Tenant will recognize said mortgagee or person as its Landlord under the terms of this Lease, provided that said mortgagee or person for the period during which said mortgagee or person respectively shall be in possession of the Leased Premises and thereafter their respective successors in interest shall assume all of the obligations of Landlord hereunder. The word "mortgage", as used herein includes mortgages, deeds of trust or ground leaseother similar instruments, and modifications, and extensions thereof. The term "institutional mortgage" as used in this Article 24 means a mortgage securing a loan from a bank or trust company, insurance company or pension trust or any other lender institutional in nature and constituting a lien upon the case may be. Lessee's failure to execute such documents within 10 days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b)Leased Premises.
Appears in 2 contracts
Samples: Commercial Lease Agreement (Vision Marine Technologies Inc.), Commercial Lease Agreement (Vision Marine Technologies Inc.)
Subordination. (a) This Lease, at Lessor's ’s option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or for security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's ’s right to quiet possession of the Premises shall not be disturbed if disturbed. If Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, Lease unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease shall be deemed prior to such mortgage, deed of trust, trust or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a such subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure , and failing to execute such documents do so within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunderdemand, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-’s attorney in fact and in Lessee's ’s name, place and stead, to execute such documents in accordance with this paragraph 30(b)do so.
Appears in 1 contract
Subordination. (a) This Lease, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed or trust of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure to execute such documents within 10 twenty (20) days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b).
Appears in 1 contract
Subordination. (a) This Lease, . at Lessor's option, shall be subordinate to any ground lease, mortgage, deed dead of trust, or any other hypothecation or security now or hereafter placed upon the real property properly of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, . replacements and extensions thereof. Notwithstanding such subordination, . Lessee's right fight to quiet possession of the Premises Promises shall not be disturbed if Lessee is Is not in default and so long as Lessee shall shelf pay the rent tent and observe and perform all of the provisions of this Lease, unless this Lease is Is otherwise terminated pursuant to its terms. If 11 any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien lion of its mortgage, deed dead of trust or ground lease, . and shall give written notice thereof to Lessee, . this Lease shall be deemed prior to such mortgage, deed dead of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. , Lessee's failure to execute such documents within 10 days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-in- fact. Lessee does hereby make, constitute and irrevocably Irrevocably appoint Lessor as Lessee's attorney-inIn-fact and in In Lessee's name, . place and stead$lead, to execute such documents in accordance with this paragraph 30(b).,
Appears in 1 contract
Samples: Standard Industrial Lease (Accord Advanced Technologies Inc)
Subordination. (a) This Lease, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease shall be deemed to prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure to execute such documents within 10 days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b).
Appears in 1 contract
Subordination. (a) a. This Leaselease, at LessorLandlord's option, shall be subordinate to any ground leaseLease, mortgage, deed of trust, or any other hypothecation or for security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, LesseeTenant's right to quiet possession of the Premises shall not be disturbed if Lessee Tenant is not in default and so long as Lessee Tenant shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to LesseeTenant, this Lease shall be deemed prior to such mortgagemortagage, deed of trust, trust or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee b. Tenant agrees to execute any documents required to effectuate an attornment, a such subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure , and failing to execute such documents do so within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor Landlord as Lesseethe Tenant's attorney-in-attorney in fact and in LesseeTenant's name, place and stead, to execute such documents in accordance with this paragraph 30(b)do so.
Appears in 1 contract
Samples: Sublease (Yellow Brix Inc)
Subordination. (a) This Lease, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or of security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give given written notice thereof to Lessee, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure to execute such documents within 10 days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph Paragraph 30(b).
Appears in 1 contract
Samples: Standard Industrial Lease (Primex Technologies Inc)
Subordination. (a) This Lease, at Lessor's LANDLORD'S option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or for security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements replacements, and extensions extension thereof. Notwithstanding such subordination, Lessee's TENANT'S right to quiet possession of the Premises shall not be disturbed if Lessee TENANT is not in default and so long as Lessee TENANT shall pay the rent Rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to LesseeTENANT, this Lease shall be deemed prior to such mortgage, deed of trust, trust or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee TENANT agrees to execute promptly any documents required to effectuate an attornment, a such subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may bebe so long as such documents do not effect TENANT'S right to quiet possession. Lessee's failure If TENANT fails to execute such documents within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunderdemand, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee TENANT does hereby make, constitute and irrevocably appoint Lessor LANDLORD as Lessee's attorney-in-TENANT'S attorney in fact and in Lessee's TENANT'S name, place and stead, to execute do so.
(c) In the event of foreclosure or the exercise of the power of sale under any deed of trust made by LANDLORD covering the Premises, TENANT shall attorn to the purchaser upon any such documents foreclosure or sale and recognize such purchaser as LANDLORD under this Lease, provided such purchaser expressly agrees in accordance with writing to be bound by the terms of this paragraph 30(b)Lease.
Appears in 1 contract
Subordination. (a) This LeaseLease and all rights of Tenant therein, at Lessor's optionand all interest or estate of Tenant in the Premises, or any portion thereof, shall be subject and subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease prior to the lien of any mortgage, deed of trust trust, or ground leaseother document of like nature ("Mortgage"), as which at any time may be placed upon the case may bePremises, or any portion thereof, by Landlord, and to any replacements, renewals, amendments, modifications, extensions or refinancing thereof, and to each and every advance made under any Mortgage. Lessee's failure Tenant agrees at any time hereafter, and from time to execute such documents within 10 days after written time on demand shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and steadLandlord, to execute and deliver to Landlord a Subordination, Non- Disturbance and Attornment Agreement in the form of Exhibit "F" attached hereto and incorporated herein ("SNDA") and any other instruments, releases or other documents that may be reasonably required for the purpose of subjecting and subordinating this Lease to the lien of any such documents Mortgage and which are reasonably acceptable to Tenant. It is agreed, nevertheless, that so long as Tenant is not in default in the payment of Basic Rent and Additional Rent and the performance and observance of all covenants, conditions, provisions, terms and agreements to be performed and observed by Tenant under this Lease, that such SNDA or other instrument, release or document shall not interfere with, hinder or molest Tenant's right to quiet enjoyment under this Lease, nor the right of Tenant to continue to occupy the Premises, and all portions thereof, and to conduct its business thereon in accordance with the covenants, conditions, provisions, terms and agreements of this paragraph 30(b)Lease. The lien of any such Mortgage shall not cover Tenant's trade fixtures or other personal property located in or on the Premises.
Appears in 1 contract
Subordination. (a) This Lease, and any Option granted hereby, at Lessor's ’s option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part Industrial Center and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's ’s right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee trustee, or ground lessor shall elect to have this Lease and any Options granted hereby prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease and such Options shall be deemed prior to such mortgage, deed of trust, trust or ground lease, whether this Lease is or such Options are dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease or any Option granted herein prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's ’s failure to execute such documents within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunder, hereunder without further notice to Lessee or, at Lessor's ’s option, Lessor shall execute such documents on behalf of Lessee as Lessee's ’s attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's ’s attorney-in-fact and in Lessee's ’s name, place and stead, to execute such documents in accordance with this paragraph 30(b).
Appears in 1 contract
Subordination. (a) This Lease, and any Option or right of first refusal granted hereby, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or ore hereafter placed upon the real property of which the Premises are a part Office Building Project and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease and any Options granted hereby prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease and such Options shall be deemed prior to such mortgage, deed of trust, trust or ground lease, whether this Lease is or such Options are dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination subordination, or to make this Lease or any Option granted herein prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure to execute such documents within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunder, hereunder without further notice to Lessee or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b).
Appears in 1 contract
Samples: Sublease (Macrovision Corp)
Subordination. (a) This Lease, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease prior subordinate to the lien of any mortgage, deed of trust trust, or ground lease, as the case may be. Lessee's failure to execute such documents within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunder, or, or at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute constitute, and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b)Paragraph.
Appears in 1 contract
Samples: Commercial Lease (Alliance Distributors Holding Inc.)
Subordination. (a) 27.1 This Lease, and any Option or right of first refusal granted hereby, at Lessor's option, shall be subordinate to any ground lease, mortgage, mortgage deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part Office Building Project and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease and any Options granted hereby prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease and such Options shall be deemed prior to such mortgage, deed of trust, trust or ground lease, whether this Lease is or such Options are dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) 27.2 Lessee agrees to execute any documents required to effectuate an attornment, a subordination subordination, or to make this Lease or any Option granted herein prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure to execute such documents within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunder, hereunder without further notice to Lessee or, at Lessor's option, option Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-attorney in fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b)27.2.
Appears in 1 contract
Subordination. (a) This Lease, and any Option or right of first refusal granted hereby, at Lessor's option, shall shall, without the necessity of Lessee or any other party executing any additional documentation, be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part Building Project and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease and any Options granted hereby prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease and such Options shall be deemed prior to such mortgage, deed of trust, trust or ground lease, lease whether this Lease is or such Options are dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination subordination, or to make this Lease or any Option granted herein prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure to execute such documents within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunder, hereunder without further notice to Lessee or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b).
Appears in 1 contract
Samples: Standard Office Lease (Entertainment Boulevard Inc)
Subordination. (a) This Lease, and any Option or right of first refusal granted hereby, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part Office Building Project and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease and any Options granted hereby prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease and such Options shall be deemed prior to such mortgage, deed of trust, trust or ground lease, whether this Lease is or such Options are dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination subordination, or to make this Lease or any Option granted herein prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. , Lessee's failure to execute such documents within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunderhereunder without further notice to Lessee, or, or at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b).
Appears in 1 contract
Samples: Lease Agreement (Coast Bancorp)
Subordination. (a) This Lease, and any Option or right of first refusal granted hereby, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part Office Building Project and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease and any Options granted hereby prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease and such Options shall be deemed prior to such mortgage, deed of trust, trust or ground lease, whether this Lease is or such Options are dated prior or subsequent to the date of said mortgage, mortgage deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease or any Option granted herein prior to the lien of any mortgage, mortgage deed of trust or ground lease, as the case may be, provided Lessee has received a nondisturbance agreement in a form reasonably acceptable to Lessee pursuant to which Lessee's tenancy shall not be disturbed by the holder of such mortgage or deed of trust or the lessor under such ground lease for so long as Lessee is not in default under this Lease. Lessee's failure to execute such documents within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunder, hereunder without further notice to Lessee or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b).
Appears in 1 contract
Samples: Standard Office Lease (Continuus Software Corp /Ca)
Subordination. (a) This Lease, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure to execute such documents within 10 days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b).
Appears in 1 contract
Subordination. (a) This Lease, at Lessor's option, shall be Tenant accepts this Lease subject and subordinate in all respects to any ground lease, mortgage, deed of trust, or any other hypothecation or security mortgage which may now or hereafter be placed upon on or affect the real property of which fee interest in the Premises are Property and/or Landlord's interest therein (each a part "Mortgage"), and to each advance made, or hereafter to be made, under any and all advances made on the security thereof Mortgage, and to all renewals, modifications, consolidations, replacements replacements, extensions and extensions thereof. Notwithstanding such subordinationsubstitutions of and for any Mortgage, Lesseeprovided holder of any Mortgage (each a "Mortgagee") shall agree not to disturb Tenant's right to quiet possession use and occupancy of the Premises shall not be disturbed if Lessee so long as Tenant is not in substantial default and so long as Lessee shall pay hereunder. Notwithstanding the rent and observe and perform all of the provisions of this Leaseaforesaid, unless if any Mortgagee elects to have Tenant's interest in this Lease is otherwise terminated pursuant be superior to its terms. If any mortgageeMortgage held by it, trustee or ground lessor shall elect then by notice to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, Tenant from such Mortgagee this Lease shall be deemed prior superior to such mortgage, deed of trust, or ground leaseMortgage, whether this Lease is dated prior executed before or subsequent to the date after same. This Section 20 shall be self-operative and no further instrument of said mortgagesubordination shall be required. In confirmation of such subordination, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornmenthowever, a subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure to execute such documents within 10 days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor Tenant shall execute such documents on behalf of Lessee and deliver promptly any certificate that Landlord and/or any Mortgagee or their respective successors in interest may request. Tenant hereby constitutes and appoints Landlord and/or any mortgagee and/or their respective successors in interest as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as LesseeTenant's attorney-in-fact and in Lessee's name, place and stead, to execute and deliver any such documents in accordance with this paragraph 30(b)certificate or certificates for and on behalf of Tenant if Tenant shall fail to do so within ten (10) days after written request therefor.
Appears in 1 contract
Samples: Lease (FSC Semiconductor Corp)
Subordination. (a) This Lease, at Lessor's optionin the event Lessor notifies Lessee in writing, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or for security now or hereafter placed upon the real property of at which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Lessee agrees to promptly execute any commercially reasonable documents which may be required to effectuate such subordination. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent Rent and observe and perform all of the provisions of and covenants required under this Lease, unless this Lease is otherwise terminated pursuant Lessee's right to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to quiet possession of the lien of its mortgage, deed of trust or ground lease, Premises and shall give written notice thereof to Lessee, 's right and remedies under this Lease shall not be deemed prior disturbed or effected by any subordination, and each successor to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure to execute such documents within 10 days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's optioninterest in the Lease (by foreclosure, Lessor shall execute such documents on behalf of Lessee as Lessee's attorneydeed-in-fact. Lessee does hereby makelieu of foreclosure, constitute or otherwise) shall be bound by and irrevocably appoint shall perform the obligations of the Lessor as Lesseeto be performed after the date it acquires the Lessor's attorney-in-fact interest in the Lease (except that the successor shall not be liable for any prior defaults of the Lessor, the return of any security deposit not transferred tot he successor, nor for the cost of restoring the Premises following a peril or condemnation in excess of the insurance and condemnation in Lessee's name, place the excess of the insurance and stead, to execute such documents in accordance with this paragraph 30(bcondemnation proceeds actually received).
Appears in 1 contract
Subordination. (a) This Lease, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises Premises, as set forth in Section 37 of this Lease, shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior subordinate to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease shall be deemed prior subordinate to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease prior subordinate to the lien of any mortgage, mortgage deed of trust or ground lease, as the case may be. Lessee's failure to execute such documents within 10 days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b29(b).
Appears in 1 contract
Subordination. See Paragraph 62
(a) This Lease, and any Option or right of first refusal granted hereby, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part Office Building Project and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease and any Options granted hereby prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease and such Options shall be deemed prior to such mortgage, deed of trust, trust or ground lease, whether this Lease is or such Options are dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any reasonable documents required to effectuate an attornment, a subordination subordination, or to make this Lease or any Option granted herein prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure to execute such documents within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunder, hereunder without further notice to Lessee or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b).
Appears in 1 contract
Subordination. (a) This Lease, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor Lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure to execute such documents within 10 days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b).
Appears in 1 contract
Subordination. (a) This Lease, at Lessor's ’s option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's ’s right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's ’s failure to execute such documents within 10 days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's ’s option, Lessor shall execute such documents on behalf of Lessee as at Lessee's ’s attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's ’s attorney-in-fact and in Lessee's ’s name, place and stead, to execute such documents in accordance with this paragraph 30(b).
Appears in 1 contract
Subordination. (a) This Lease, at Lessor's option, shall be subordinate to SECTION 8.01. The lien of any ground lease, mortgage, deed of trust, mortgage or any other hypothecation or security now or indenture hereafter placed upon the real property fee title to the Leased Premises (a "FEE MORTGAGE") shall be subject and subordinate to this Lease, the rights of which Ground Lessee hereunder, to any new Lease made pursuant to Section 10.03 of this Lease and to the Premises are a part leasehold estate created hereby or thereby, and to any amendments of this Ground Lease and all advances made on the security thereof and to all renewalsany such new Lease; provided, modificationshowever, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and that so long as Lessee any Fee Mortgage shall pay constitute a lien on the rent and observe and perform all of fee title to the provisions of Leased Premises, no agreement hereafter made amending this Lease, unless or any such new Lease, so as to (i) reduce the amount of rent, (ii) shorten or extend the term of this Lease is otherwise terminated pursuant to its terms. If or any mortgageesuch new Lease, trustee or ground lessor shall elect to have (iii) increase the obligations of Ground Lessor under this Lease in any way, shall be binding upon the holder of any Fee Mortgage or upon the granting of any deed given in lieu of foreclosure of any such Fee Mortgage, or their successors and assigns, and any such holder or purchaser or grantee or their successors and assigns shall be entitled to enforce this Lease or any such new Lease in accordance with its terms prior to any such amendment. Any Fee Mortgage shall contain a provision for release of the Leased Premises from the lien of its mortgage, deed the Fee Mortgage upon consummation of trust or ground lease, and shall give written notice thereof to Ground Lessee, this Lease shall be deemed prior to such mortgage, deed 's purchase of trust, or ground lease, whether this Lease is dated prior or subsequent the Leased Premises pursuant to the date of said mortgage, deed of trust or ground lease or the date of recording thereofPurchase Option Agreement.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure to execute such documents within 10 days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b).
Appears in 1 contract
Samples: Ground Lease (Rouge Industries Inc)
Subordination. (a) This Lease, and any Option or right of first refusal granted hereby, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now nor or hereafter placed upon the real property of which the Premises are a part Office Building Project and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease and any Options granted hereby prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease and such Options shall be deemed prior to such mortgage, deed of trust, trust or ground lease, whether this Lease is or such Options are dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination subordination, or to make this Lease or any Option granted herein prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure to execute such documents within 10 ten (10) days after written demand shall constitute a material default by lessee hereunder without further notice to Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this hits paragraph 30(b).
Appears in 1 contract
Samples: Lease Addendum (Notify Corp)
Subordination. (a) This LeaseLese, and any Option or right of first refusal granted hereby, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trust, trust or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part Office Building Project and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease and any Options granted hereby prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease lease and such Options shall be deemed prior to such mortgage, deed of trust, trust or ground lease, whether this Lease is or such Options are dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination subordination, or to make this Lease or any Option granted herein prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lesseelessee's failure to execute such documents within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunder, hereunder without further notice to Lessee or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-in- fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b).
Appears in 1 contract
Subordination. (a) This Lease, at LessorLandlord's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or for security now or hereafter placed upon the real property of which the Premises are a part and to of any and all advances advance made on the security thereof and to all renewalsrenewal, modifications, consolidations, replacements and extensions thereof. Notwithstanding any such subordination, LesseeTenant's right to quiet possession of the Premises shall not be disturbed if Lessee Tenant is not in default and so long as Lessee Tenants shall pay the rent and observe and perform all of the other provisions of to this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee trustee, or ground lessor shall elect to have this Lease prior to the lien of its mortgage, mortgage or deed of trust or ground lease, and shall give written notice thereof to LesseeTenant, this Lease shall be deemed prior to such mortgage, deed of trust, trust or ground lease, whether this Lease is dated prior to or subsequent to the date of said such mortgage, deed of trust or ground lease lease, or the date of recording thereof.
(b) Lessee . Tenant agrees to execute any documents required Requiring to effectuate an attornment, a effect such subordination or to make this Lease prior to the lien of any mortgage, deed of trust trust, or ground lease, as the case may be. Lessee's failure , and falling to execute such documents do so within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee from Landlord does hereby make, constitute and irrevocably appoint Lessor Landlord as LesseeTenant's attorney-in-attorney in fact and in LesseeTenant's name, place and stead, stead to execute such documents in accordance with this paragraph 30(b)do so.
Appears in 1 contract
Samples: Lease Agreement (Nara Bancorp Inc)
Subordination. (a) This Lease, and any Option granted hereby, at Lessor's ’s option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part Industrial Center and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's ’s right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease and any Options granted hereby prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease and such Options shall be deemed prior to such mortgage, deed of trust, trust or ground lease, whether this Lease is or such Options are dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease or any Option granted herein prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's ’s failure to execute such documents within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunder, hereunder without further notice to Lessee or, at Lessor's ’s option, Lessor shall execute such documents on behalf of Lessee as Lessee's ’s attorney-in-fact. , subject to satisfactorily providing the Lessee does hereby make, constitute and irrevocably appoint Lessor with a Non Disturbance letter as Lessee's attorney-in-fact and determined in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b).13.3
Appears in 1 contract
Subordination. (a) This Lease, at LessorLandlord's option, shall be subordinate to any ground lease, mortgage, deed of trust, trust or any other hypothecation or security now of record or hereafter placed upon the real property of which the Premises are a part part, and to any and all advances made on the security thereof thereof, and to all amendments, renewals, modifications, consolidations, restructurings, replacements and extensions thereof. Notwithstanding such Landlord's election to subordinate this Lease to any mortgage, deed of trust or any other hypothecation or security hereafter placed upon the real property of which the Premises are a part shall not be effective unless the mortgagee or trustee shall execute with Tenant a subordination, Lesseenon-disturbance and attornment agreement recognizing, among other things, that Tenant's right to quiet possession of the Premises shall not be disturbed disturbed, if Lessee Tenant is not in default default, and so long as Lessee Tenant shall pay the rent Rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, mortgagee or trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, mortgage or deed of trust or ground leasetrust, and shall give written notice thereof to LesseeTenant, this Lease shall be deemed prior to such mortgage, mortgage or deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, mortgage or deed of trust or ground lease or the date of recording thereof.
(b) Lessee Tenant agrees to execute any documents required by Landlord or its lenders to effectuate an attornment, a subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. LesseeTenant's failure to execute such documents within 10 fifteen (15) days after written demand shall constitute a material default by Lessee Tenant hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b).
Appears in 1 contract
Samples: Standard Industrial Lease (Metatec International Inc)
Subordination. (a) This Leaselease, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent Rent and observe and perform all of the provisions of this Leaselease, unless this Lease lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor Lessor shall elect to have this Lease lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure If Lessee fails to execute such documents within 10 days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's optiondemand, Lessor shall may execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b).in-
Appears in 1 contract
Subordination. (a) This Lease, and any Option or right of first refusal granted hereby, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part Office Building Project and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease and any Options granted hereby prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease and such Options shall be deemed prior to such mortgage, deed of trust, trust or ground lease, whether this Lease is or such Options are dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.,
(b) Lessee agrees to execute any documents required to effectuate an attornmentallotment, a subordination subordination, or to make this Lease or any Option granted herein prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure to execute such documents within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunder, hereunder without further notice to Lessee or, at Lessor's option, . Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b).
Appears in 1 contract
Subordination. (a) This Lease, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease prior subject and subordinate to the lien of any mortgagepresent or future mortgage or mortgages upon the Property or the Building, deed irrespective of trust the time of execution or ground leasethe time of recording of any such mortgage or mortgages, and to any modifications, extensions, renewals and refinancing thereof; provided, however, that such subordination shall be upon the express condition that this Lease shall be recognized by the mortgagee and, during the term of this Lease, the rights of Tenant shall remain in full force and effect so long as Tenant shall continue to perform all of the case may becovenants and conditions of this Lease. Lessee's failure to execute such documents within 10 days after written demand This subordination shall constitute a material default by Lessee hereunderbe self-operative; however, orin confirmation thereof, at Lessor's option, Lessor Tenant shall execute promptly any instrument that Landlord or any first mortgagee may request confirming such documents on behalf of Lessee subordination. Tenant hereby constitutes and appoints Landlord as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as LesseeTenant's attorney-in-fact and in Lessee's name, place and stead, to execute any such documents instrument on behalf of Tenant. Notwithstanding the foregoing, before any foreclosure sale under a mortgage, the mortgagee shall have the right to subordinate the mortgage to this Lease, and, in accordance with the event of a foreclosure, this paragraph 30(b)Lease may continue in full force and effect and Tenant shall attorn to and recognize as its landlord the purchaser of Landlord's interest under this Lease. Tenant shall, upon the request of a mortgagee or purchaser at foreclosure, execute, acknowledge and deliver any instrument that has for its purpose and effect the subordination of the lien of any mortgage to this Lease or Tenant's attornment to such Purchaser. The word "mortgage" as used herein includes mortgages, deeds of trust or other similar instruments and modifications, extensions, renewals and replacements thereof and any and all advances thereunder.
Appears in 1 contract
Samples: Lease Agreement (Argan Inc)
Subordination. (a) This Lease, and any Option granted hereby, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part Industrial Center and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgageemortgages, trustee or ground lessor shall elect to have this Lease and any Options granted hereby prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease and such Options shall be deemed prior to such mortgage, deed of trust, trust or ground lease, whether this Lease is or such Options are dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease or any Option granted herein prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure to execute such documents within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunder, hereunder without further notice to Lessee or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-in- fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b).
Appears in 1 contract
Subordination. (a) This Lease, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed place upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions provision of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect effect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure to execute such documents within 10 days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as at Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b).
Appears in 1 contract
Subordination. (a) This Lease, at Lessor's option, Lease shall be subject and subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgageany first mortgage of the entire fee interest of the Property to a bona fide lending, deed of trust thrift or ground leasebanking institution, pension fund or insurance company to provide construction and/or permanent financing and shall give written notice thereof any renewals, modifications or extensions thereof, provided that a Subordination, Recognition and Non-Disturbance Agreement (a "Subordination Agreement") is executed, acknowledged and delivered by such mortgagee to Lessee, . Such Subordination Agreement must be in form suitable for recording and must contain substantially the following provisions:
(a) The mortgagee consents to and approves this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.Lease;
(b) Lessee agrees to execute shall not be named or joined as a party defendant in any documents required to effectuate an attornmentsuit, a subordination action or proceeding for the foreclosure of the mortgage or to make enforce any rights under the mortgage or note or other obligation secured thereby;
(c) The possession by Lessee of the Premises and Lessee's rights thereto shall not be disturbed, affected or impaired by, nor will this Lease prior or the Term be terminated or otherwise affected by, (i) any suit, action or proceeding upon the mortgage or the note or other obligation secured thereby, or the foreclosure of the mortgage or the enforcement of any rights under the mortgage or any other documents held by the mortgagee, or by any judicial sale or execution or other sale of the Property, or by any deed given in lieu of foreclosure, or by the exercise of any other rights given to the lien mortgagee by any other documents or as a matter of law or (ii) any default under the mortgage or the note or other obligation secured thereby;
(d) If the mortgagee takes possession of the Property or starts collecting rent or becomes the owner of the Property by reason of foreclosure of the mortgage or otherwise, or if the Property shall be sold as a result of any mortgageaction or proceeding to foreclose the mortgage or by a deed given in lieu of foreclosure, deed of trust or ground this Lease shall continue in full force and effect, without necessity for executing any new lease, as a direct lease between Lessee, as tenant thereunder, and the case may be. Lessee's failure mortgagee or then owner of the Property, as landlord thereunder, upon all of the same terms, covenants, and provisions contained in this Lease, and in such event the mortgagee or new owner shall be bound to execute Lessee under all of the terms, covenants and provisions of this Lease for the remainder of the Term hereof, which terms, covenants and provisions such documents within 10 days after written demand shall constitute a material default mortgagee or new owner hereby agrees to assume and perform;
(e) The mortgagee must acknowledge and agree that all trade fixtures, equipment and personal property owned by Lessee hereunderlocated or installed in or on the Premises, orregardless of the manner or mode of attachment, at Lessor's option, Lessor shall execute such documents on behalf be and remain the property of Lessee as Lessee's attorney-in-factand may be removed by Lessee at any time. Lessee does hereby makeIn no event (including a default under this Lease or the mortgage) shall the mortgagee have any liens, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and rights or claims in Lessee's nameproperty unless such property or any part thereof shall be deemed fixtures; and the mortgagee expressly waives all rights of levy, place distraint, or execution with respect to said property; and
(f) Such Subordination Agreement shall bind and steadinure to the benefit of and be enforceable by the parties thereto and their respective heirs, to execute such documents in accordance with this paragraph 30(b)personal representatives, successors and assigns.
Appears in 1 contract
Samples: Lease (Onix Systems Inc)
Subordination. (a) This Lease, and any Option or right of first refusal granted hereby, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part Office Building Project and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease and any Options granted hereby prior to the lien of its mortgage, deed of trust trust, or ground lease, and shall give written notice thereof to Lessee, this Lease or such Options shall be deemed prior to such mortgage, deed of trust, trust or ground lease, whether this Lease is or such Options are dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination subordination, or to make this Lease or any Option granted herein prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure to execute such documents within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunderhereunder without further notice.
(c) Notwithstanding anything in this Lease to the contrary, orLessor hereby agrees to obtain Subordination, Non-Disturbance and Attornment Agreements in the form mutually acceptable to Lessor and Lessee ("Subordination Agreement") from each and every secured lender whose interest is senior or prior to Lessee's interest in the Premises. Lessor hereby agrees to provide Lessee with written evidence of each such secured, senior lender and a Subordination Agreement from each such lender prior to the Term Commencement Date of the Lease. In the event Lessor fails to obtain a Subordination Agreement from each lender, Lessee may, at Lessor's its option, terminate this Lease by giving Lessor written notice of termination. In such event of termination, Lessor shall execute such documents on behalf of return any sums paid by Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b)Lessor.
Appears in 1 contract
Subordination. (a) This Lease, at Lessor's optionoption and upon written notice to Lessee, shall be automatically subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or for security now or hereafter placed upon the real property of which the Premises are a part Project and to any and all an advances made on the security thereof and to all renewals, modifications, consolidations, replacements replacement and extensions thereof. Notwithstanding ; provided, however, as to any ground lease, mortgage, deed of trust, or any other hypothecation for security hereafter placed upon the Project, such subordinationsubordination shall be conditioned upon the ground lessor, Lesseemortgagee, beneficiary under deed of trust or holder of any other hypothecation recording a non-disturbance agreement in favor of Xxxxxx in such party's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its termscustomary form. If Lessor or any mortgagee, trustee trustee, or ground lessor shall elect to have this Lease prior to the lien of its a mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease shall be automatically deemed prior to such mortgage, deed of trust, trust or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust trust, or ground lease or the date of recording thereof.
(b) Lessee Xxxxxx agrees to execute any commercially reasonable documents required to further evidence or effectuate an attornment, a such subordination or to make this Lease prior to the lien of any mortgage, deed dead of trust or ground lease, as the case may be. Lessee's failure , and failing to execute such documents do so within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunderdemand, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute constitute, and irrevocably appoint Lessor Xxxxxx as LesseeXxxxxx's attorney-in-attorney in fact and in LesseeXxxxxx's name, place and stead, to execute such documents in accordance with this paragraph 30(b)do so.
Appears in 1 contract
Samples: Standard Commercial Industrial Triple Net Lease (Titan Motorcycle Co of America Inc)
Subordination. (a) This Lease, at Lessor's option, Lease and Tenant’s interest hereunder is and shall be remain subject and subordinate to the lien of all existing and all current and future mortgages and/or any ground leaseleases (which term “mortgages” shall include both construction and permanent financing and shall include deeds of trust and similar security instruments, mortgageand ground leases) which may now or hereafter encumber the Building, deed of trustthe Land, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof thereof, and to all and any renewals, extensions, modifications, consolidationsrecastings, replacements and extensions or refinancings thereof. Notwithstanding such subordination, Lessee's right to quiet possession of At any time after the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions execution of this Lease, unless the holder of any mortgage to which this Lease is otherwise terminated pursuant subordinate shall have the right to its terms. If any mortgagee, trustee or ground lessor shall elect to have declare this Lease prior to be superior to the lien of its mortgage, deed of trust or ground lease, such mortgage and shall give written notice thereof to Lessee, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee Tenant agrees to execute any all documents required by such holder in confirmation thereof. The foregoing subordination shall be automatic and shall not require execution of a separate instrument of subordination to effectuate an attornmentbe effective; however, a subordination or to make this Lease prior to in confirmation of the lien of any mortgageforegoing subordination, deed of trust or ground leaseTenant shall, as the case may be. Lessee's failure to execute such documents within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunderLandlord’s request, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee any requisite or appropriate certificate or other document. Tenant hereby constitutes and appoints Landlord as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's Tenant’s attorney-in-fact and in Lessee's name, place and stead, to execute any such documents certificate or other document for or on behalf of Tenant. Landlord shall make reasonable efforts to obtain from any present or future mortgagee of the Building or the Land a non-disturbance agreement with respect to the Premises in accordance with such mortgagee’s standard form, subject to mortgagee’s acceptance; provided, however, that (i) Tenant shall pay all costs in connection therewith, and (ii) the failure to obtain any such non-disturbance agreement shall have no effect on the subordination provided for in this paragraph 30(b)Section 21.1.
Appears in 1 contract
Samples: Assignment and Assumption of Lease (Dupont Fabros Technology, Inc.)
Subordination. (a) This Lease, at LessorLandlord's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or for security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, LesseeTenant's right rights to quiet possession of the Premises shall not be disturbed if Lessee Tenant is not in default and so long as Lessee Tenant shall pay the rent Rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to LesseeTenant, this Lease shall be deemed prior to such mortgage, deed of trust, trust or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease lease, or the date of recording thereof.
(b) Lessee Tenant agrees to execute and deliver any documents required to effectuate an attornment, a such subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure , and failing to execute such documents do so within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunderdemand, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor Landlord as LesseeTenant's attorney-in-fact and in LesseeTenant's name, place and stead, to execute such documents in accordance with this paragraph 30(b)do so.
Appears in 1 contract
Samples: Lease Agreement (Cutter & Buck Inc)
Subordination. (a) This Lease, at Lessor's option, Lease is and shall be subject and subordinate at all times to all ground or underlying leases which now exist or may hereafter be executed affecting the Building and to the lien of any ground lease, mortgage, deed mortgages or deeds of trust, or any other hypothecation or security trust now or hereafter placed on or against the Building, or on or against Landlord's interest or estate therein, and including all extensions, renewals, amendments and supplements to any such lease, deed of trust or mortgage, without the necessity of the execution and delivery, of any further instruments on the part of Tenant to effectuate such subordination. Tenant covenants and agrees to execute and deliver upon the real property demand such further instruments evidencing such subordination of which the Premises are a part this Lease to such ground or underlying leases and to the lien of any and all advances made on such mortgages or deeds of trust as may be required by Landlord provided that any lessor under any such ground or underlying lease or the security thereof and holder of any mortgage or deed of trust has agreed to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession recognize the rights of the Premises shall not be disturbed if Lessee Tenant under this Lease so long as Tenant is not in default and so long as Lessee hereunder. Notwithstanding anything herein above contained in this Section, in the event the holder of any mortgage or deed of trust or the lessor under any ground or underlying lease shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If at any mortgagee, trustee or ground lessor shall time elect to have this Lease constitute a prior and superior lien to the lien of its mortgage, deed of trust or ground lease, then and shall give written notice thereof in such event, upon any such holder notifying Tenant to Lesseethat effect in writing, this Lease shall be deemed prior and superior in lien to such mortgage, deed of trust, trust or ground lease, whether this Lease is dated prior to or subsequent to the date of said mortgage, deed of trust such mortgage or ground lease or the date of recording thereoflease.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure to execute such documents within 10 days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b).
Appears in 1 contract
Subordination. (a) This Lease, at LessorLandlord's sole option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or for security now or hereafter placed upon the real property of which the Premises are a part Building and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements replacements, refinancings and extensions thereof. Notwithstanding such subordination, LesseeTenant's right to quiet possession of the Premises shall not be disturbed if Lessee Tenant is not in default and so long as Lessee Tenant shall pay the rent Rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to LesseeTenant, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior to or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee . If any mortgage or deed of trust to which this Lease is subordinate is foreclosed or a deed in lieu of foreclosure is given to the mortgagee or beneficiary, Tenant shall attorn to the purchaser at the foreclosure sale or to the grantee under the deed in lieu of foreclosure; if any ground lease to which this Lease is subordinate is terminated, Tenant shall attorn to the ground lessor. Tenant agrees to execute any documents required to effectuate an attornment, a such subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be, or to evidence such attornment. Lessee's failure to execute Any such documents within 10 days after written demand document of attornment shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor also provide that the successor shall execute such documents on behalf not disturb Tenant in its use of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents the Premises in accordance with this paragraph 30(b)Lease.
Appears in 1 contract
Subordination. (a) This Lease, and any Option granted hereby, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part Industrial Center and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions extension thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions provision of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease and any Options granted hereby prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease and such Options shall be deemed prior to such mortgage, deed of trust, trust or ground lease, whether this Lease is dated or such Options are denied prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornmentallotment, a subordination or to make this Lease or any Option granted herein prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure to execute such documents within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunder, hereunder without further notice to Lessee or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b).
Appears in 1 contract
Samples: Standard Industrial Lease (Mobility Electronics Inc)
Subordination. (a) This LeaseLease and any Option or right of first refusal granted hereby, at Lessor's ’s option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part Office Building Project and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements replacements, and extensions thereof. Notwithstanding such subordination, subordination Lessee's ’s right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease and any Options granted hereby prior to the lien of its mortgage, deed of trust trust, or ground lease, and shall give written notice thereof to Lessee, this Lease and such Options shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is or such Options are dated prior or subsequent to the date of said mortgage, deed of trust trust, or ground lease lease, or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination subordination, or to make this Lease or any Option granted herein prior to the lien of any mortgage, deed of trust trust, or ground lease, lease as the case may be. Lessee's ’s failure to execute such documents within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunder, hereunder without further notice to Lessee or, at Lessor's ’s option, Lessor shall execute such documents on behalf of Lessee as Lessee's ’s attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's ’s attorney-in-fact and in Lessee's name, ’s name place and stead, stead to execute such documents in accordance with this paragraph 30(b).
Appears in 1 contract
Subordination. (a) This Lease, at Lessor's option, Lease shall be subject and subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made mortgages and related documents placed on the security thereof and to all renewalsBuilding, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession Leased Premises or the real property in existence as of the Premises date hereof or coming into existence at any time hereafter. LESSEE shall upon execution of this Lease execute and deliver LESSOR’S lender’s form of Subordination Nondisturbance and Attornment Agreement, substantially in the form attached hereto as Exhibit F (“Lender’s SNDA Form”), and LESSOR shall use commercially reasonable efforts to procure execution thereof from its current lender and provide a fully executed original to LESSEE. LESSOR’S inability to provide the same despite its commercially reasonable efforts to do so shall not be disturbed if Lessee is not in deemed to be a default and so long as Lessee shall pay the rent and observe and perform all of the provisions of under this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease LESSOR shall be deemed prior to have used “commercially reasonable efforts” in the foregoing instance if it makes a prompt request in writing for execution of such mortgage, deed of trust, or ground lease, whether this Lender’s SNDA Form upon the Lease is dated prior or subsequent Execution Date (with a copy to LESSEE); makes at least weekly phone inquiries to the date of said mortgage, deed of trust lender or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease prior loan servicers as to the lien status of execution, by its counsel or in house leasing manager; and to the extent required by lender or loan servicer pays any mortgagerequired reasonable loan servicing fee. Further, deed of trust or ground leaseat any other time during the Term, as the case may be. Lessee's failure to execute such documents LESSEE shall within 10 fifteen (15) days after written demand request from LESSOR, execute and deliver the LESSEE’S Lender’s SNDA Form to LESSOR who shall constitute use commercially reasonable efforts to procure execution thereof from its then current lender(s) and provide a material fully executed original to LESSEE, LESSOR’S inability to provide the same despite its commercially reasonable efforts to do so shall not be deemed to be a default by Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with under this paragraph 30(b).Lease,
Appears in 1 contract
Subordination. (a) This Lease, at LessorLandlord's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, LesseeXxxxxx's right to quiet possession of the Premises shall not be disturbed if Lessee Tenant is not in default and so long as Lessee Tenant shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to LesseeTenant, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust trust, or ground lease lease, or the date of recording thereof.
(b) Lessee Xxxxxx agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. LesseeTenant's failure to execute such documents within 10 ten (10) days after written demand shall constitute a material default by Lessee Tenant hereunder, or, at LessorLandlord's option, Lessor Landlord shall execute such documents on behalf of Lessee Tenant as LesseeXxxxxx's attorney-attorney- in-fact. Lessee Tenant does hereby make, constitute and irrevocably appoint Lessor Landlord as LesseeXxxxxx's attorney-in-fact and in LesseeTenant's name, place and stead, to execute such documents in accordance with this paragraph 30(b)paragraph.
Appears in 1 contract
Samples: Lease Agreement
Subordination. (aA) This Lease, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(bB) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may bemaybe. Lessee's failure to execute such documents within 10 days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-in fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b).
Appears in 1 contract
Samples: Standard Industrial Lease (Genetronics Biomedical LTD)
Subordination. (a) This Lease, at LessorLandlord's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or for security now or hereafter placed upon the real property of which the Premises are a part Building and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, LesseeTenant's right to quiet possession of the Premises premises shall not be disturbed if Lessee Tenant is not in default and so long as Lessee Tenant shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee trustee, or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to LesseeTenant, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior to or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee . If any mortgage or deed of trust to which this Lease is subordinate is foreclosed or a deed in lieu of foreclosure is given to the mortgagee or beneficiary, Tenant shall attorn to the purchaser at the foreclosure sale or to the grantee under the deed in lieu of foreclosure; if any ground lease to which this Lease is subordinate is terminated, Tenant shall attorn to the ground lessor. Tenant agrees to execute any documents required to effectuate an attornment, a such subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure , or to execute evidence such documents within 10 days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b)attornment.
Appears in 1 contract
Samples: Sublease (Depomed Inc)
Subordination. (a) This Lease, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent Rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure If Lessee fails to execute such documents within 10 days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's optiondemand, Lessor shall may execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b28(b).
Appears in 1 contract
Subordination. (a) This Lease, and any Option granted hereby, at Lessor's Landlord’s option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's Tenant’s right to quiet possession of the Premises shall not be disturbed if Lessee Tenant is not in default and so long as Lessee Tenant shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgageemortgage, trustee trustee, or ground lessor shall elect to have this Lease and any Options granted hereby prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to LesseeTenant, this Lease and such Options shall be deemed prior to such mortgage, deed of trust, trust or ground lease, whether this Lease is or such Options are dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee Tenant agrees to execute any documents required to effectuate an attornment, a attornment or subordination or to make this Lease or any Option granted herein prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's Tenant’s failure to execute such documents within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunder, Tenant hereunder without further notice to Tenant or, at Lessor's Landlord’s option, Lessor Tenant shall execute such documents on behalf of Lessee Tenant as Lessee's Tenant’s attorney-in-fact. Lessee Tenant does hereby make, constitute and irrevocably appoint Lessor Landlord as Lessee's Tenant’s attorney-in-fact and in Lessee's Tenant’s name, place and stead, to execute such documents in accordance with this paragraph 30(b)paragraph.
Appears in 1 contract
Subordination. (a) This Lease, at LessorLandlord's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or for security now or hereafter placed upon the real property of which the Premises are a part and to any and all 'advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, LesseeTenant's right to quiet possession of the Premises shall not be disturbed if Lessee Tenant is not in default and so long as Lessee Tenant shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to LesseeTenant, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee Tenant agrees to execute any documents required to effectuate an attornment, a such subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure , and failing to execute such documents do so within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunderdemand, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor Landlord as LesseeTenant's attorney-in-attorney in fact and in LesseeTenant's name, place and stead, to execute such documents in accordance with this paragraph 30(b)do so.
Appears in 1 contract
Subordination. (a) This Lease, at LessorLease and all Lessee's option, shall be rights under this Lease are subject and subordinate to any ground leaseall underlying leases, mortgagetrust indentures and mortgages (collectively, deed of trust, or any other hypothecation or security "Mortgages") now or hereafter placed upon on or affecting the real property of Building and/or the land on which the Premises are a part Building is located, or any interest therein, and to any and all advances made on the security thereof and to all renewals, modifications, consolidationsconsolidation, replacements replacements, substitutions, additions and extensions thereofof any such Mortgages. Notwithstanding This provision shall be self-operative and no further instrument of subordination shall be necessary. However, in confirmation of such subordination, Lessee's Lessee shall execute and deliver promptly any subordination agreement that Lessor may request. In the event any proceedings are brought for the foreclosure of any Mortgage, or in the event of a deed in lieu of such foreclosure, or in the event of the termination of any underlying lease, Lessee hereby agrees to attorn to the purchaser or transferee upon foreclosure, and/or the holder of the reversion under any such underlying lease, and recognize such purchaser, transferee or holder as the Lessor under this Lease to the same extent and effect as the original Lessor. Lessee agrees to execute and deliver upon the request of Lessor, or any such purchaser, transferee or holder, any instrument necessary or desirable to evidence such attornment. Lessee waives any right which it may have by law to quiet terminate this Lease or to surrender possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease prior to the lien by reason of any mortgage, deed such foreclosure proceedings or termination of trust or ground any underlying lease, as the case may be. Lessee's failure to execute such documents within 10 days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b).
Appears in 1 contract
Samples: Office Space Lease Agreement (Able Laboratories Inc)
Subordination. (a) This Lease, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease shall be deemed prior to such mortgage, deed of trust, trust or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure to execute such documents within 10 days after written demand shall constitute a material default by Lessee hereunder, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and stead, to execute such documents in accordance with this paragraph 30(b).
Appears in 1 contract
Samples: Standard Industrial Lease (Prolong International Corp)
Subordination. (a) This Lease, at Lessor's option, Landlord’s option shall be subordinate to any ground lease, mortgage, deed of trust, trust or any other hypothecation or for security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's . Tenant’s right to quiet possession of the Premises shall not be disturbed if Lessee Tenant is not in default and so long as Lessee Tenant shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to LesseeTenant, this Lease shall be deemed prior to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior to or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof.
(b) Lessee Tenant agrees to execute any documents required to effectuate an attornment, a such subordination or to make this Lease lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure be and failing to execute such documents do so within 10 ten (10) days after written demand shall constitute a material default by Lessee hereunderdemand, or, at Lessor's option, Lessor shall execute such documents on behalf of Lessee as Lessee's attorney-in-fact. Lessee does hereby make, constitute and irrevocably appoint Lessor Landlord as Lessee's attorney-in-Tenant’s attorney in fact and in Lessee's Tenant’s name, place and stead, to execute such documents in accordance with this paragraph 30(b)do so.
Appears in 1 contract
Samples: Industrial Lease (Arcimoto Inc)