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
Sources: Standard Industrial Lease (International Menu Solutions Corp), Standard Industrial Lease (Entech Environmental Technologies Inc), Standard Industrial Lease (Earth & Ocean Sports 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
Sources: Standard Industrial Lease (Qad Inc), Standard Industrial Lease (T Netix Inc), Standard Industrial Lease (Qad 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
Sources: Standard Office Lease (Guess Inc Et Al/Ca/), Standard Office Lease (Sirf Technology Inc), Standard Office Lease (Impac Mortgage Holdings 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
Sources: 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
Sources: Standard Office Lease (Scheid Vineyards Inc), Standard Office Lease (Superior National Insurance Group Inc), Standard Office Lease (Jakks Pacific 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
Sources: Purchase and Sale Agreement (Williams Companies Inc), Master Lease Agreement (Williams Companies Inc), Master Lease (Williams Communications Group Inc)
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
Sources: Ground Lease Agreement (Pilgrims Pride Corp), Ground Lease Agreement (Pilgrims Pride Corp), Ground Lease Agreement (Pilgrims Pride 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 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
Sources: Standard Industrial Lease (Alpha Technologies Group Inc), Standard Industrial Lease (Alpha Technologies Group Inc), Standard Industrial Lease (Alpha Technologies Group 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
Sources: Office Lease (Watchguard Technologies Inc), Office Lease (Watchguard Technologies Inc), Office Lease (Watchguard Technologies 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
Sources: Office Lease (Obagi Medical Products, Inc.), Office Lease (Obagi Medical Products, Inc.), Office Lease (Obagi Medical Products, 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
Sources: Lease (Local Matters Inc.), Lease Agreement (Local Matters Inc.), Lease (Local Matters 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
Sources: 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
Sources: Lease Agreement, Auction Purchase and Sale Agreement, Auction Purchase and Sale Agreement
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
Sources: Office/Warehouse Lease (Possis Medical Inc), Office/Warehouse Lease (Possis Medical 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 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
Sources: Standard Office Lease (San Diego Soccer Development Corp), Lease Agreement (San Diego Soccer Development Corp)
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
Sources: Colocation Lease (Overstock Com Inc), Colocation Lease (Overstock Com 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
Sources: Industrial Lease (Viper Networks Inc), Industrial Lease (Viper Networks Inc)
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
Sources: Lease Agreement (Alpha Technologies Group Inc), Lease (Alpha Technologies Group Inc)
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
Sources: Standard Office Lease (Elastic N.V.), Standard Office Lease (Elastic N.V.)
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
Sources: Full Service Lease (Document Capture Technologies, Inc.), Full Service Lease (Document Capture Technologies, Inc.)
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
Sources: Commercial Lease Agreement (Vision Marine Technologies Inc.), Commercial Lease Agreement (Vision Marine Technologies Inc.)
Subordination. (a) This LeaseLease shall, at Lessor's LANDLORD’s option, shall be subordinate or superior 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 that may exist or hereafter be placed upon the date Premises or any part thereof and to any and all advances to be made thereunder and to the interest thereon and to all renewals, replacements and extensions thereof, provided, however, so long as TENANT performs its obligations under this Lease, no foreclosure of, deed given in lieu of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornmentforeclosure of, a subordination or to make sale, and no procedures taken under the encumbrance shall affect TENANT’s rights under this Lease prior and the holder of such encumbrance shall agree to recognize this Lease and all of the TENANT’s rights hereunder. TENANT shall upon written demand by LANDLORD execute such instruments as may reasonably be required at any time and from time to time to subordinate the rights and interest of TENANT under this Lease to the lien of any mortgagesuch ground lease, mortgage or deed of trust, or, if requested by LANDLORD, to subordinate any such ground lease, mortgage or deed of trust to the Lease, so long as such instrument includes reasonable non-disturbance protection; provided, however, that TENANT shall, in the event any proceedings are brought for the foreclosure of any such mortgage or deed of trust on termination of such ground lease, attorn to the purchaser upon foreclosure sale or sale under power of sale or the LANDLORD under such ground lease, and shall recognize such purchaser or ground lessor as the case may be. Lessee's failure to execute such documents within 10 days after written demand shall constitute a material LANDLORD under this Lease, and so long as TENANT is not in default by Lessee hereunder, or, at Lessor's option, Lessor no such termination or foreclosure 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 terminate this paragraph 30(b)Lease or otherwise affect TENANT’s rights hereunder.
Appears in 2 contracts
Sources: Lease Agreement, Lease Agreement
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
Sources: Lease (Graphic Controls Corp), Lease (Graphic Controls 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
Sources: Lease and Services Agreement, Lease and Services Agreement
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
Sources: Lease Agreement (Adept Technology Inc), Lease Agreement (Adept Technology 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
Sources: 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
Sources: 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
Sources: Lease Agreement (Fair Isaac & Company Inc), Lease Agreement (Fair Isaac & Company 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
Sources: Lease Agreement (PLX Technology Inc), Lease Agreement (Arthrocare Corp)
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
Sources: Lease Agreement, Lease Agreement
Subordination. (a) This Lease, at Lessor's Landlord’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, Lessee's ▇▇▇▇▇▇’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. ▇▇▇▇▇▇ 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 attornnent. Lessee's failure to execute Any such documents within 10 days after written demand document of attorn vent 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 2 contracts
Sources: Full Service Lease (Cyan Inc), Full Service Lease (Cyan 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 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
Sources: Commercial Lease (Hit Entertainment Inc), Commercial Lease (Hit Entertainment 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
Sources: Industrial Building Lease (Motors & Gears Inc), Industrial Building Lease (Motors & Gears 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
Sources: Standard Industrial Lease (Butterfield & Butterfield Auctioneers Corp), Standard Industrial Lease (Butterfield & Butterfield Auctioneers Corp)
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 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 ?ILLEGIBLE? 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 ?ILLEGIBLE? 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 ▇▇▇▇▇▇ 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 is paragraph 30(b).
Appears in 2 contracts
Sources: Assignment of Lease (Redenvelope Inc), Assignment of Lease (Redenvelope 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 Building and to any and all advances made on the security thereof and to all renewals, modificationsmodification, 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 the 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 prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, then 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-attorney in fact and in LesseeTenant's name, place and stead, to do so. If Tenant fails to execute any documents required to be executed by Tenant under this Section within ten (10) days after written demand by Landlord, then such documents in accordance with failure shall constitute an Event of Default under this paragraph 30(b)Lease.
Appears in 2 contracts
Sources: Office Space Lease (Adexa Inc), Office Space Lease (Adexa Inc)
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
Sources: 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
Sources: Office Space Lease (Nco Group Inc), Office Space Lease (CRW Financial Inc /De)
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
Sources: 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
Sources: 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
Sources: Lease Agreement (Celebrate Express, Inc.), Lease Agreement (Celebrate Express, 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 ▇▇▇▇▇▇’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 ▇▇▇▇▇▇ 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 ▇▇▇▇▇▇’s attorney-in-fact. Lessee Tenant does hereby make, constitute and irrevocably appoint Lessor Landlord 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)paragraph.
Appears in 2 contracts
Sources: Lease Agreement, Retail Lease
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 ▇▇▇▇▇▇'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. ▇▇▇▇▇▇ 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
Sources: Master Lease (Omega Healthcare Investors Inc), Master Lease (Omega Healthcare Investors Inc)
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
Sources: Industrial Lease (Esterline Technologies Corp), Industrial Lease (Esterline Technologies Corp)
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 with 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 hereunder without further notice to 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
Sources: Standard Industrial Lease (Ameriquest 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 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, shall Lease is and will 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 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 to 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 reasonable documents required to effectuate an attornment, a 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 the 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 do so. In the event any proceedings are brought for the foreclosure of any mortgage on the Premises and/or the Facility, subject to the execution and delivery of a nondisturbance agreement in the form set forth on Exhibit E attached hereto. Lessee will attorn to the purchaser at the foreclosure sale and recognize the purchaser as the lessor under this Lease. The purchaser by virtue of such foreclosure shall be deemed to have assumed, as substitute Lessor, the terms and conditions of this Lease from and after the date of such foreclosure until the resale or other disposition of its interest by such purchaser. Such assumption, however, shall not be deemed of itself an acknowledgment or assumption by the purchaser of the validity of any then existing claims of Lessee against the prior Lessor. Lessee agrees to execute and deliver such further assurance and other documents in accordance with (including but not limited to a new lease upon the same terms and conditions as this paragraph 30(b)Lease) confirming the foregoing as such purchaser may reasonably request. Lessee on behalf of itself and on behalf of all sublessees and designees under Lessee waives any right of election to terminate this Lease because of any such foreclosure proceedings.
Appears in 1 contract
Sources: Charter School Lease
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) 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 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, 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 hereof 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, 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(b30 (b).
Appears in 1 contract
Sources: Standard Industrial Lease (Legends of the Faith Inc)
Subordination. (a) This Lease, at Lessor's option, shall be Lease is subject and subordinate to any all ground leaseor underlying leases, mortgage, deed mortgages and deeds of trust, trust which affect the Property 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 Real Property and to all renewals, modificationsmodification, consolidationsconsolidation, replacements and extensions thereof. Notwithstanding ; provided, however, if the lessor under any such subordination, Lessee's right to quiet possession lease 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 such mortgage or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust shall advise Landlord that they desire or ground lease, require this Lease to be prior and shall give written notice thereof to Lesseesuperior thereto, this Lease shall be deemed prior so, and upon written request of Landlord to Tenant, Tenant agrees within ten (10) days after Landlord's request, to execute, acknowledge and deliver any and all documents or instruments which Landlord or such mortgagelessor, deed holder or holders deem necessary or desirable for purposes thereof Landlord shall have the right to cause this Lease to be subject and subordinate to any and all ground or underlying leases, mortgages or deeds of trusttrust which may hereafter be executed covering the Premises, the Building or the Real Property or any renewals, modification, consolidations, replacements or extensions thereof, provided, however, that Landlord obtains from the lender or ground lease, whether lessor a written undertaking in favor of Tenant to the effect that such lender or ground lessor will not disturb Tenant's rights of possession under this Lease if Tenant is dated prior not then 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 thereafter in breach of any mortgage, deed covenant or provision of trust or ground lease, as this Lease. Tenant hereby appoints Landlord 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-attorney in-fact of Tenant irrevocable to execute and deliver any document or documents provided for herein for and in Lessee's namethe name of Tenant, place and steadsuch power, to execute such documents in accordance being coupled with this paragraph 30(b)an interest, is irrevocable.
Appears in 1 contract
Subordination. (a) This Leasea. Provided that Lessee is granted a non-disturbance agreement on the applicable lender's then standard form, at Lessor's optionthis Lease is, shall be or will be, subject and subordinate to the lien of any ground leaseand all mortgages, mortgage, deed deeds of trust, trust or any other hypothecation or security devices which may now or hereafter placed upon affect or encumber all or any portion of the real Building or the land underlying the same and the land and other property appurtenant to the use and enjoyment of which the Premises are a part and to any and all advances made on Building (collectively, the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof"Land"). Notwithstanding such subordination, Lessee's right to quiet possession of the Premises demised 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 This clause shall be self-operative and no further instrument of subordination shall be required by any mortgagee, trustee or holder of another security device or holder of a ground lessor shall elect to have this Lease prior to the lien leasehold interest. In confirmation of its mortgagesuch subordination, deed of trust or ground leasehowever, 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 and acknowledge any documents reasonably 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 leaseother security devices, as the case may be. Lessee's failure .
b. Notwithstanding the foregoing, in the event any such mortgagee or the holder of any deed to execute secure debt, other security device or ground leasehold interest shall elect to make the lien of this Lease prior to the lien of its mortgage, deed to secure debt, other security device or ground leasehold interest, then, upon such documents within 10 days after party giving Lessee written demand notice to such effect, this Lease shall constitute a material default by Lessee hereunderbe deemed to be prior in lien to the lien of such mortgage deed to secure debt, orother security device or ground leasehold interest, 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)whether dated prior or subsequent thereto.
Appears in 1 contract
Sources: Lease Agreement (Jaymark Inc)
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
Sources: Office Space Lease Agreement (Able Laboratories Inc)
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, 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 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 pays the rent and observe observes and perform performs 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 elects to have this Lease Lease, and any Options granted hereby, prior to the lien of its mortgage, deed of trust trust, or ground lease, and shall give gives 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 such mortgage, deed of trust or trust, or ground lease or the date of recording thereof.
(b) Lessee agrees to execute any documents required to effectuate an attornmentattornment or, a 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, 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 may execute such documents on behalf of Lessee as Lessee's ’s attorney-in-fact. Lessee does hereby make, constitute 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(b29(b).
Appears in 1 contract
Subordination. (a) This Lease, at Lessor's 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 ’s right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall shalt 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 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 alter written demand shall constitute a material default by Lessee hereunder, or, 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
Sources: Lease Agreement (TUTOR PERINI 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 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 1 contract
Subordination. (a) This 29.1 Lessor shall have the right to subordinate this Lease, and Lessee shall, at Lessor's optionrequest, shall be subordinate its rights under this Lease, to any existing or future ground lease, mortgagecovenants, deed conditions and restrictions, easements, rights of trust, way or any other hypothecation construction, operation and reciprocal easement agreements, deeds of trust or security now or hereafter placed upon mortgages encumbering the real property of which the Premises are a part and to Office Building Project, any and all advances made on the security thereof and to all any renewals, modifications, consolidations, replacements and or extensions thereofthereof , whenever made or recorded. Notwithstanding such subordinationHowever, Lessee's right to quiet possession of the Premises during the Term shall not be disturbed 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 default. If any mortgageeground lessor, trustee beneficiary or ground lessor shall elect mortgagee elects to have this Lease prior to the lien of its mortgageground lease, deed of trust or ground leasemortgage, and shall give gives written notice thereof to Lessee, then this Lease shall be deemed prior to such mortgageground lease, deed of trust, trust or ground leasemortgage, whether this Lease is dated prior or subsequent to the date of said mortgageground lease, deed of trust or ground lease mortgage or the date of recording thereof.
(b) 29.2 If Lessor's interest in the Premises is acquired by any ground lessor, 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, provided that the purchaser or lessor shall acquire and accept the Premises subject to this Lease. Lessee waives the protection of any statute or rule of law which gives or purports to give Lessee any right to terminate this Lease or surrender possession of the Premises upon the transfer of Lessor's interest.
29.3 Lessee shall sign and deliver any instrument or documents required necessary or appropriate to effectuate an attornment, a evidence any such attornment or subordination or agreement to make do so provided that such interests or documents recognize that Lessee's right to quiet possession of the Premises shall not be disturbed so long as Lessee is not in default of its obligations pursuant to this Lease prior beyond any applicable notice and cure period. If Lessee fails to the lien of any mortgage, deed of trust or ground lease, as the case may be. Lessee's failure to execute such documents do so within 10 ten (10) days after written demand request, such failure shall constitute be a material material, non-curable default by and Lessee hereunderhereby makes, 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 constitutes and irrevocably appoint Lessor as Lessee's appoints Lessor, or any transferee or successor of Lessor, the attorney-in-fact and in Lessee's name, place and stead, of Lessee to execute and deliver any such documents in accordance with this paragraph 30(b)instrument or document.
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 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) TWENTY (20) 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
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 given 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 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(b29(b).
Appears in 1 contract
Sources: Standard Industrial Lease (Supershuttle International 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 or 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, Lessor 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, at LessorLesser'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 18 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 document 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 1 contract
Subordination. (a) This Lease, at Attornment: At Lessor's option, this lease shall be subject and subordinate to all ground and underlying leases which now exist or may hereinafter be executed affecting the Building or the land upon which the Building is situated or both, and to the lien of any ground lease, mortgage, deed mortgages or deeds of trust, trust in any amount or any other hypothecation or security amounts whatsoever now or hereafter placed upon on or against the real property land or improvements of which the Premises leased premises are a part part, on or against Lessor's interest or estate herein, or on or against any ground or underlying lease, without the necessity of the execution and to delivery of any and all advances made further instruments on the security thereof and part of Lessee to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding effectuate 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 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 dead of trust, trust or ground lease, whether this Lease lease is dated prior or subsequent to the date of said mortgage, deed dead of trust or ground lease or the date of the recording thereof.
(b) . Lessee covenants and agrees to execute any documents required and deliver upon demand without charge therefor, such further instruments evidencing such subordination of this lease to effectuate an attornment, a subordination such ground or to make this Lease prior underlying leases and to the lien of any mortgage, deed such mortgages or deeds of trust or ground lease, as the case may bebe required by Lessor. 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, hereby appoints 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 steadirrevocably, to execute and deliver any such documents agreements, instruments, releases or other documents. In the event any proceedings are brought for default under any ground or any underlying lease or in accordance with the event of foreclosure or the exercise of the power of sale under any mortgage or dead of trust made by Lessor covering the Building of which the leased premises are a part, Lessee shall attorn to the purchaser upon any such foreclosure or sale and recognize such purchaser as Lessor under this paragraph 30(b)lease, provided such purchaser expressly agrees in writing to be bound by the forms of the 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 Property 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 Leaselease, unless this Lease is otherwise terminated pursuant to its terms. If any mortgagee, trustee or ground lessor 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 the document attached as Exhibit B 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 document in accordance with this paragraph 30(b).
Appears in 1 contract
Sources: Sublease (Burke Industries Inc /Ca/)
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 1 contract
Sources: Lease Agreement (Overstock Com Inc)
Subordination. (a) This Lease, at Lessor's option, shall be subordinate Lessee accepts this Lease subject to any ground lease, mortgage, deed of trust, trust or any other hypothecation or security now lien presently existing or hereafter placed upon the real property Shopping Center or any portion of the Shopping Center which includes the Premises are a part premises, and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements renewals and extensions thereof. Notwithstanding such subordination, Lessee's Lessee agrees that any mortgagee shall have the right at any time 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 subordinate its mortgage, deed of trust or ground lease, and shall give written notice thereof other lien to Lessee, this Lease shall be deemed prior to such mortgageprovided, deed of trusthowever, or ground lease, whether notwithstanding that this Lease is dated prior may be (or subsequent made to the date of said be) superior to a mortgage, deed of trust or ground lease or other lien, and the date of recording thereof.
(b) mortgagee shall not be liable for prepaid rentals, security deposits and claims accruing during Lessor's ownership. Lessee agrees upon demand to execute any documents required such further instruments as Lessor may request to effectuate an attornment, a subordination or to make subordinate this Lease prior to the lien of any mortgage, deed of trust or ground leaseother lien hereafter placed upon the premises or the Shopping Center as a whole, provided such mortgagee simultaneously executes and delivers to Lessee a written agreement in form reasonably acceptable to Lessor and Lessee that after a foreclosure (ro a deed in lieu of foreclosure) the rights of Lessee shall remain in full force and effect during the term of this Lease so long as Lessee shall continue to recognize and perform all of the case may be. Lessee's failure covenants and conditions of this Lease and providing for attornment on the part of Lessee and further provided that Lessee shall not 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 any promissory notes or other evidences of indebtedness which would create any personal liability 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, 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 bebe provided such documents contain a non-disturbance provision in form and substance reasonably acceptable to Lessee. Lessee's failure to execute such documents within 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). 31.
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 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, 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
Sources: Standard Industrial Lease (Microtel International 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 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 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 given 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 lease 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) business days after written demand shall constitute a material default by Lessee hereunder, hereunder with 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 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▇▇▇▇▇▇▇▇'s election to subordinate this Lease shall not be effective unless the ground lessor, Lesseemortgagee or trustee shall execute with Tenant a nondisturbance agreement recognizing that Tenant's right eight 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 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. 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, or at LessorLandlord's option, Lessor Landlord shall execute such documents on behalf of Lessee Tenant as Lessee▇▇▇▇▇▇'s attorney-in-fact. Lessee Tenant does hereby make, constitute and irrevocably appoint Lessor Landlord as Lessee's Tenants attorney-in-fact and in Lessee's Tenants name, place and stead, stead to execute such documents in accordance with this paragraph 30(b)documents.
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 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) 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, 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 requested by Landlord, at Landlord's expense, or any mortgagee to confirm or effectuate an attornment, a such subordination or to make this Lease prior to the lien of or 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
Sources: Net Lease (WMS Industries Inc /De/)
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, 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, 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 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 reasonably required to effectuate an attornmentAttornment, 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 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 mortgageemortgages, 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, 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 lease 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-inIn-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 leaseLease, 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 quite 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 leaseLease, and shall give written notice thereof to Lessee, this Lease shall be deemed prior to such mortgage, deed of trust, or ground leaseLease, 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.. Standard Industrial Lease -- Gross Page 11 Lessee [ILLEGIBLE] Direct Focus, Inc. 6/98 Lessor [ILLEGIBLE]
(b) Lessee agrees to execute any documents required to effectuate an attornmentatternment, a subordination or to make this Lease prior to the lien of any mortgage, deed of trust or ground leaseLease, 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, 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-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
Subordination. (a) 26.1 This Lease, at Lessor's Landlord’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 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 ; provided that the ground lessor or lender thereunder agrees in writing that Tenant’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 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 leaseLease, 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.. <Initials> 10 <Initials>
(b) Lessee 26.2 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 leaseLease, 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 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)do so.
Appears in 1 contract
Sources: Commercial Lease (Nara Bancorp 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 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
Sources: 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 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 advances made on the security thereof and to all renewals, modifications, consolidations, replacements 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, Lessee's right to quiet possession mortgagee, beneficiary under deed of the Premises shall not be disturbed if trust or holder of any other hypothecation recording a non-disturbance agreement in favor of 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 termssuch par▇▇'▇ customary 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 agrees to execute ▇▇▇▇▇▇e 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 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 as Lessee's attorney-in-fact attorney ▇▇ ▇▇▇t and in Lessee's Lessees name, place and stead, to execute such documents in accordance with this paragraph 30(b)do so.
Appears in 1 contract
Sources: Standard Commercial Industrial Triple Net Lease (Titan Motorcycle Co of America Inc)
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
Sources: 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
Sources: 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 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 to the Premises shall not be disturbed if Lessee is not in default and so long as the 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, 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 1 contract
Sources: Assignment of Lease (Viador 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 renewalsrenewal, modifications, consolidations, replacements and extensions thereof. Notwithstanding any 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 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 Lessee's attorney-in-Tenant’s 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 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 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 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
Sources: Lease Agreement (Xoma Corp /De/)
Subordination. (a) This Lease, and any Option granted hereby, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of or 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 lease 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 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, 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 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 attornmentatonement, 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 thirty (30) 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.
c) Landlord will use its good faith efforts in attempting to obtain non-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)disturbance agreements from any current mortgage holder.
Appears in 1 contract
Subordination. (a) This Lease, and all rights and interests of Tenant hereunder, at Lessor's Landlord’s option, shall be subordinate to the Ground Lease, any other ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property Building or any interest of which the Premises are a part Landlord therein (collectively “Mortgage”) 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 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 be senior to the lien of its mortgage, deed of trust or ground leaseMortgage, and shall give written notice thereof to LesseeTenant, this Lease shall be deemed prior senior to such mortgage, deed of trust, or ground leaseMortgage, 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) Lessee . Tenant agrees to execute any documents required to effectuate an attornment, a subordination subordination, or to make this Lease prior to the lien of any mortgage, deed of trust or ground lease, as the case may beMortgage. 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)Section.
Appears in 1 contract
Subordination. (a) This Lease, at Lessor's option, Lease shall be subordinate in all respects to any ground lease, mortgage, deed Lease or other arrangement or right to possession under which the Lessor is in control of trust, the Premises to the rights of the owner or any other hypothecation owners of the Premises and of the land or security now or hereafter placed upon the real property buildings of which the Premises are a part part, to all rights of the Lessor’s landlord and to any and all advances made on liens of any mortgages or other encumbrances now or hereafter encumbering the security thereof Premises or any part thereof, or upon the land and/or the buildings, and any Declaration of Condominium executed by Lessor hereafter, with the same force and effect as if such Mortgage had been executed, acknowledged, delivered and recorded prior to all renewalsthe execution of this Lease. The subordination contained in this Paragraph is and shall be effective without the necessity of any further act or writing by either party hereto, modificationsbut Lessee agrees that it will, consolidationsimmediately upon Lessor’s request, replacements and extensions thereof. Notwithstanding deliver such additional documents as any mortgagee may require to confirm such subordination. Lessee, Lessee's right at the request of any mortgagee or any one acquiring title to quiet possession Lessor’s estate or the Premises by foreclosure, deed in lieu of foreclosure or otherwise, shall attorney to the then owner and recognize such owner as Lessor for the balance 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 term of this Lease, unless subject to all of the terms and provisions hereof. Such mortgagee or purchaser at said foreclosure sale shall not be:
A. Liable for any act or omission of Lessor;
B. Subject to any offsets or defenses which Lessee may have against the Lessor;
C. Bound by any rent or additional rent which the Lessee may have paid to the Lessor for more than the current month;
D. Bound by any amendment or modification of the lease made, without its consent;
E. Entitled to any security deposits paid to Lessor by Lessee if Lessor has exercised its rights under this Lease is otherwise terminated pursuant to apply such security deposits against sums or rents due to Lessor. Any mortgagee of Lessor may, at any time, at its terms. If any mortgageeoption, trustee or ground lessor shall elect by notice to have Lessor and Lessee, declare its mortgage subordinate in lien and payment to this Lease prior to the lien of its mortgageLease, deed of trust or ground lease, and shall give written notice thereof to Lesseein which event, this Lease shall be deemed prior superior to such mortgage. Upon receipt of written request by Lessee, 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 Lessor agrees to execute any documents required to effectuate an attornment, a subordination or to make this Lease prior to request from 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 then current mortgagee on behalf of Lessee, a Non-Disturbance Agreement from Lessor’s mortgagee on the mortgagee’s standard form. Any fee charged for this agreement by the mortgagee and all reasonable costs and expenses incurred by Lessor in its efforts to obtain the same (whether or not successful) shall be paid by Lessee as Lessee's attorneyAdditional Rent. Lessor’s failure to acquire such Non-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, Disturbance Agreement shall not be deemed to execute such documents in accordance with be a default under this paragraph 30(b)Lease.
Appears in 1 contract
Sources: Lease Agreement (American Bank Note Holographics Inc)
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
Sources: Lease (Onix Systems 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 advances, together with interest thereon and subject to all the terms and provisions thereof; provided only, and as an express condition precedent to such subordination, Lessee's right to quiet possession 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 [...***...] 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 1 contract
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 requested 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 [word unreadable] shall constitute a material default Default by Lessee hereunderTenant under this Lease. Notwithstanding anything to the 19 20 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 1 contract
Subordination. (a) This Lease, at Lessor's option, agreement shall be subordinate to all existing liens and, at Landlord's option, the lien of any ground lease, mortgage, first deed of trust, trust or any other hypothecation or security now or hereafter first mortgage subsequently placed upon the real property of which the Premises are a part part, and to any and all advances made on the security thereof of the Premises, and to all renewals, modifications, consolidations, replacements replacements, and extensions thereofextensions. Notwithstanding such subordinationHowever, Lesseeas to the lien of any deed of trust or mortgage entered into after execution of this agreement, ▇▇▇▇▇▇'s right to quiet possession of the Premises shall not be disturbed if Lessee Tenant is not in default and so long as Lessee shall pay Tenant pays the rent Rent and observe observes and perform performs all of the provisions of this Leaseagreement, unless this Lease agreement is otherwise terminated pursuant to its terms. If any mortgagee, trustee trustee, or ground lessor shall elect elects to have this Lease agreement placed in a security position 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 a mortgage, deed of trust, or ground lease, whether and gives written notice to Tenant, this Lease is dated agreement shall be deemed prior or subsequent to the date of said that mortgage, . deed of trust trust, or ground lease lease, or the date of recording thereofrecording. 33. TENANT REPRESENTATIONS; CREDIT: Tenant warrants that all statements in Tenant's financial documents and rental application are accurate. Tenant authorizes Landlord and ▇▇▇▇▇▇(s) to obtain ▇▇▇▇▇▇'s credit report at time of application and periodically during tenancy in connection with approval, modification, or enforcement of this agreement. Landlord may cancel this agreement: (i) before occupancy begins, upon disapproval of the credit report(s); or (Ii) at any time. upon discovering that information in ▇▇▇▇▇▇'s application is false. A negative credit report reflecting on ▇▇▇▇▇▇'s record may be submitted to a credit reporting agency, if ▇▇▇▇▇▇ fails to pay Rent or comply with any other obligation under this agreement. 34. CONSTRUCTION-RELATED ACCESSIBILITY STANDARDS: Landlord states that the PremisesQ has, orlx.
(b) Lessee agrees ,has not been inspected by a Certified Access Specialist. If so, Landlord states that the Premises O has, or n has not been determined to execute any documents required meet all applicable construction-related accessibility standards pursuant 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 beCivil Code Section 55.53. 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)35.
Appears in 1 contract
Sources: Commercial Lease Agreement (Lulu's Fashion Lounge Holdings, 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 1 contract
Subordination. (a) This Lease, at Lessor's Landlord’s option, shall be subordinate to any ground lease, mortgage, deed of trusttrusts, 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, modificationsmodification, consolidations, replacements and extensions thereof. Notwithstanding any 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 other provisions of this Lease, 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 prior to the lien of its mortgage, mortgage or deed of trust or ground lease, and shall give written notice thereof therof 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 such mortgage, deed of trust or of ground 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 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, 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 place, and stead, stead to execute such documents in accordance with this paragraph 30(b)do so.
Appears in 1 contract
Sources: Commercial Lease (View 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, provided that Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in material 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 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 such reasonable documents as 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 or to provide Lessee's reasonable objections thereto within 10 the 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 29.1 Lessor shall have the right to subordinate this Lease, and Lessee shall, at Lessor's optionrequest, shall be subordinate its rights under this Lease, to any existing or future ground lease, mortgagecovenants, deed conditions and restrictions, easements, rights of trust, way or any other hypothecation construction, operation and reciprocal easement agreements, deeds of trust or security now or hereafter placed upon mortgages encumbering the real property of which the Premises are a part and to Building Project, 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 such subordinationHowever, Lessee's right to quiet possession of the Premises during the Term shall not be disturbed 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 default. If any mortgageeground lessor, trustee beneficiary or ground lessor shall elect mortgagee elects to have this Lease prior to the lien of its mortgageground lease, deed of trust or ground leasemortgage, and shall give gives written notice thereof to Lessee, then this Lease shall be deemed prior to such mortgageground lease, deed of trust, trust or ground leasemortgage, whether this Lease is dated prior or subsequent to the date of said mortgageground lease, deed of trust or ground lease mortgage or the date of recording thereof.
(b) 29.2 If Lessor's interest in the Premises is acquired by any ground lessor, 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 of or successor as Lessor under this Lease, provided that the purchaser or lessor shall acquire and accept the Premises subject to this Lease. Lessee waives the protection of any statute or rule of law which gives or purports to give Lessee any right to terminate this Lease or surrender possession of the Premises upon the transfer of Lessor's interest.
29.3 The effective subordination of this Lease to any future mortgages, deeds of trust, other security interest or leases shall be subject to the fulfillment of the conditions precedent that the holder of such mortgage or other lien on the Building shall first have agreed in writing that so long as Lessee is not in default, the Lease shall not be terminated by foreclosure or sale pursuant to the terms of such mortgage or lien and such subordination shall not otherwise materially restrict or limit the rights or increase the obligations of Lessee under this Lease. Lessee shall sign and deliver an instrument or documents required necessary or appropriate to effectuate an attornment, a evidence any such attornment or subordination or agreement to make do so, including such reasonable conditions as the prospective lender or ground lessor may require, provided that such interests or documents recognize that Lessee's right to quiet possession of the Premises shall not be disturbed so long as Lessee is not in default of its obligations pursuant to this Lease prior beyond any applicable notice and cure period.
29.4 Notwithstanding anything to be contrary herein, Lessor hereby represents and warrants to Lessee that the Premises are not currently subject to the lien of any mortgagedeed of trust, and that Lessee shall not be requested to subordinate to the lien of a deed of trust or ground lease, as during 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)initial term hereof.
Appears in 1 contract
Sources: Standard Lease (Microelectronic Packaging Inc /Ca/)
Subordination. (a) 25.1. This Lease, at Lessor's option, Lease is and shall be subject and subordinate to any all present and future ground leaseor underlying leases and to all mortgages, mortgageoptions, deed of trust, or any other hypothecation or security and building loan agreements that may now or hereafter placed upon affect such leases or 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 thereofof any such ground or underlying leases, options, building loan agreements and mortgages. Notwithstanding The provisions of this Section 25.1 shall be self- operative and no further instrument of subordination shall be required. In confirmation of such subordination, Lessee's right to quiet possession Tenant shall execute and deliver promptly at its own cost and expense any instrument, in recordable form if required, that Landlord, the lessor 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 ground 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 underlying lease or the date holder of recording thereofany such mortgage or any of their respective successors in interest may request to evidence such subordination, and Tenant hereby constitutes and appoints Landlord or its successors in interest to be Tenant's attorney-in-fact, irrevocably and coupled with an interest, to execute and deliver any such instrument for and on behalf of Tenant.
(b) Lessee agrees to execute 25.2. In the event of a termination of any documents required to effectuate an attornmentground or underlying lease, a subordination or to make if the interests of Landlord under this Lease prior to the lien are transferred by reason of, or assigned in lieu of, foreclosure or other proceedings for enforcement of any mortgage, deed or if the holder of trust any mortgage acquires a lease in substitution therefor, then Tenant under this Lease, at the option to be exercised in writing by the lessor under such ground or ground leaseunderlying lease or such mortgagee or purchaser, assignee or lessee, as the case may be, either (a) will attorn to it and will perform for its benefit all the terms, covenants and conditions of this Lease on Tenant's part to be performed with the same force and effect as if said lessor, such mortgagee or purchaser, assignee or lessee, were the landlord originally named in this Lease, or (b) will enter into a new lease with said lessor or such mortgagee or purchaser, assignee or lessee, as landlord, for the remaining Term of this Lease and otherwise on the same terms and conditions and with the same options, if any, then remaining. Lessee's failure The foregoing provisions of clause (a) of this Section 25.2 shall enure to execute the benefit of such documents within 10 days after written demand lessor, mortgagee, purchaser, assignee or lessee, shall constitute a material default by Lessee hereunder, or, at Lessor's be self-operative upon the exercise of such option, Lessor and no further instrument shall execute be required to give effect to said provisions. Tenant, however, upon demand of any such documents on behalf lessor, mortgagee, purchaser, assignee or lessee, shall execute, from time to time, instruments in confirmation of Lessee as Lesseethe foregoing provisions of this Section 25.2, satisfactory to any such lessor, mortgagee, purchaser, assignee or lessee, acknowledging such attornment and setting forth the terms and conditions of its tenancy. Tenant hereby constitutes and appoints Landlord or its successors in interest to be the Tenant's attorney-in-fact. Lessee does hereby make, constitute irrevocably and irrevocably appoint Lessor as Lessee's attorney-in-fact and in Lessee's name, place and steadcoupled with an interest, to execute and deliver such documents instrument of attornment, or such new lease, if Tenant refuses or fails to do so promptly upon request.
25.3. Anything herein contained to the contrary notwithstanding, under no circumstances shall any lessor under any ground lease or mortgagee or purchaser, assignee or lessee, as the case may be, whether or not it shall have succeeded to the interests of the landlord under this Lease, be (a) liable for any act, omission or default of any prior landlord or for the return of any security deposit or part thereof not actually received by such lessor, mortgagee, purchaser, assignee, or lessee, as the case may be; or (b) subject to any offsets, claims or defenses that Tenant might have against any prior landlord: or (c) bound by any rent or additional rent that Tenant might have paid to any prior landlord for more than one month in advance or for more than three months in advance where such rent payments are payable at intervals of more than one month (other than payments for Tenant's Tax Payment which shall be paid in accordance with the terms and conditions of Article 4 of this paragraph 30(bLease).; or
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 s 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 Leas 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 data of said 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 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 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