Common use of Subordination Clause in Contracts

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust.

Appears in 27 contracts

Samples: Lease Agreement (Singular Genomics Systems, Inc.), Lease Agreement (Atara Biotherapeutics, Inc.), Lease Agreement (Werewolf Therapeutics, Inc.)

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Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust. As of the date of this Lease, there is no existing Mortgage encumbering the Project.

Appears in 17 contracts

Samples: Lease Agreement (Graphite Bio, Inc.), Lease Agreement (Millendo Therapeutics, Inc.), Lease Agreement (Ultragenyx Pharmaceutical Inc.)

Subordination. This Lease and Tenant’s 's interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage first mortgage, now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder holder of any such Mortgagemortgage, to attorn to any such Holderholder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, subordination and such instruments of attornment as shall be requested by any such Holderholder. Tenant hereby appoints Landlord attorney in fact for Tenant irrevocably (such power of attorney being coupled with an interest) to execute, provided acknowledge and deliver any such instrument and instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment for and in the name of the Premises as set forth in Section 24 hereofTenant and to cause any such instrument to be recorded. Notwithstanding the foregoing, any such Holder holder may at any time subordinate its Mortgage mortgage to this Lease, without Tenant’s 's consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage mortgage and had been assigned to such Holderholder. The term “Mortgage” "mortgage" whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” "holder" of a Mortgage mortgage shall be deemed to include the beneficiary under a deed of trust.

Appears in 10 contracts

Samples: Lease Agreement (Optex Systems Holdings Inc), Lease Agreement (Adams Golf Inc), Lease Agreement (Winsonic Digital Media Group LTD)

Subordination. Landlord may execute and deliver a mortgage or trust deed in the nature of a mortgage (both sometimes hereinafter referred to as a “Mortgage”) against the Premises or any portion thereof. This Lease and Tenant’s interest the rights of Tenant hereunder shall automatically, and rights hereunder without the requirement of the execution of any further documents, be and are hereby made and shall be expressly subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against encumbering any portion of the Project or the PremisesImprovements, and to all amendmentsadvances made or hereafter to be made upon the security thereof provided such lender does not disturb Tenant’s possession hereunder as long as (i) Tenant is not in default hereunder, restatements(ii) upon the written direction of mortgagee Tenant pay all rents arising under this Lease as directed by such mortgagee; (iii) in the event such mortgagee enforces its rights under the Mortgage or such lease is terminated due to a default by Landlord, renewalsTenant will, modificationsupon request of any person succeeding to the interest of Landlord in the Premises (“successor in interest”) as the result of said enforcement, consolidations, refinancing, assignments and extensions thereofautomatically attorn to such successor in interest, without the necessity any change in terms or other provisions of any further instrument or act on the part of Tenantthis Lease; provided, however however, that so long as there is no Default hereundersaid successor in interest shall not be: (a) liable for any previous act or omission of any prior landlord, including Landlord, under this Lease except for acts or omissions that arise and/or exist after such successor in interest takes title to the Premises; (b) bound by any payment of rent or additional rent for more than one month in advance, except payments in the nature of security, but only to the extent such payments have been delivered to such successor in interest; (c) bound by any modifications to the Lease (including any agreement providing for early termination or cancellation of the Lease) made without any requisite consent of the mortgagee or any such successor in interest; (d) bound by any covenant or obligation of Landlord to perform, undertake or complete any work in the Premises or to prepare it for occupancy; (e) bound by any obligation to make any payment to Tenant or to grant any credits, except for service, repairs, maintenance and restoration provided for under this Lease to be performed by Landlord after the date of Tenant’s right attornment; (f) responsible for any funds, including security deposits, owing to possession of the Premises shall not be disturbed Tenant unless delivered by the Holder of any Landlord to such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn successor in interest; or (g) subject to any such Holder. demands, credits, claims, counter claims, offsets or defenses which Tenant agrees upon demand to executemight have against any prior landlord, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereofincluding Landlord. Notwithstanding the foregoing, Tenant agrees to execute and deliver such instruments instruments Tenant agrees will be in form and substance satisfactory to the mortgagee of such Mortgage, in its sole discretion) subordinating this Lease to the lien of any Mortgage entered into by Landlord after the execution of this Lease provided that any such Holder instruments shall contain language that such mortgagee shall not disturb Tenant’s possession hereunder as long as Tenant is not in default hereunder and attorns to the record owner of the Premises. Notwithstanding anything to the contrary contained herein, any mortgagee under a Mortgage may at any time by notice in writing to the Tenant, subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trustARTICLE XXV.

Appears in 6 contracts

Samples: Industrial Building Lease (Bway Corp), Industrial Building Lease (Bway Corp), Industrial Building Lease (Bway Corp)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be is subject and subordinate at all times to the lien ground and underlying leases, mortgages and deeds of any Mortgage trust (collectively "Encumbrances") which may now existing or hereafter created on or against the Project or affect the Premises, to any covenants, conditions or restrictions of record, and to all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments replacements and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunderhowever, Tenant’s right to possession of if the Premises shall not be disturbed by the Holder holder or holders of any such MortgageEncumbrance ("Holder") require that this Lease be prior and superior thereto, within seven (7) days after written request of Landlord to Tenant, Tenant shall execute, have acknowledged and deliver all documents or instruments, in the commercially reasonable form presented to Tenant, which Landlord or Holder deems necessary or desirable for such purposes. Tenant agreesLandlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all Encumbrances which are now or may hereafter be executed covering the Premises or any renewals, at modifications, consolidations, replacements or extensions thereof, for the election full amount of all advances made or to be made thereunder and without regard to the Holder time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof; provided only, that in the event of termination of any such Mortgagelease or upon the foreclosure of any such mortgage or deed of trust, Holder agrees to recognize Tenant's rights under this Lease as long as Tenant is not in default either at the time Holder recognizes such rights or at any time thereafter. Within ten (10) business days after Landlord's written request, Tenant shall execute any documents in commercially reasonable form required by Landlord or the Holder to make this Lease subordinate to any lien of the Encumbrance, provided that within those documents the Tenant's rights under this Lease are recognized only as long as Tenant is not in default. If Tenant fails to do so, then in addition to such failure constituting a default by Tenant, it shall be deemed that this Lease is so subordinated to such Encumbrance. Notwithstanding anything to the contrary in this Section, Tenant hereby attorns and agrees to attorn to any entity purchasing or otherwise acquiring the Premises at any sale or other proceeding or pursuant to the exercise of any other rights, powers or remedies under such Holderencumbrance. Tenant agrees upon demand Landlord shall cause the existing lender to executefurnish to Tenant, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment within sixty (60) days of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to date of both parties' execution of this Lease, without Tenant’s consent, with a written agreement providing for (i) recognition by notice in writing to Tenant, the lender of all of the terms and thereupon conditions of this Lease; and (ii) continuation of this Lease upon foreclosure of existing lender's security interest in the Premises. In the event that Landlord is unable to provide such agreement, Tenant's sole remedy shall be deemed prior to such Mortgage without regard to their respective dates termination of executionthe Lease, delivery or recording and in that event such Holder which election shall have be made within fourteen (14) days following the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording expiration of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trustsixty (60) day period.

Appears in 5 contracts

Samples: investor.verisign.com, Verisign Inc/Ca, Verisign Inc/Ca

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon 10 days after demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust. As of the date of this Lease, there is no existing Mortgage encumbering the Project. Upon written request from Tenant, Landlord shall use commercially reasonably efforts to obtain for execution by Tenant a commercially reasonable form of non-disturbance and attornment agreement executed by the Holder of any future Mortgage with a lien on the Project which provides, among other things, that so long as Tenant is not in Default of its obligations under this Lease, foreclosure or other enforcement of such Mortgage shall not terminate this Lease and the successor to Landlord’s interest in the Project shall recognize this Lease and Tenant’s right to possession of the Premises.

Appears in 4 contracts

Samples: Lease Agreement (Global Blood Therapeutics, Inc.), Lease Agreement (Global Blood Therapeutics, Inc.), Lease Agreement (Global Blood Therapeutics, Inc.)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Tenant hereby appoints Landlord attorney-in-fact for Tenant irrevocably (such power of attorney being coupled with an interest) to execute, acknowledge and deliver any such instrument and instruments for and in the name of Tenant and to cause any such instrument to be recorded. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust.

Appears in 4 contracts

Samples: Lease Agreement (CytomX Therapeutics, Inc.), Lease Agreement (CytomX Therapeutics, Inc.), Lease Agreement (Atossa Genetics Inc)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in this Section 27 and Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust.

Appears in 3 contracts

Samples: Lease Agreement (BioCardia, Inc.), Lease Agreement (BioCardia, Inc.), Lease Agreement (Fluidigm Corp)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. , Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording of such Mortgage and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. As of the Commencement Date, no Mortgage encumbers the Project. On Tenant’s written request, Landlord shall use its commercially reasonable efforts (but with no obligation to pay any out-of-pocket fees or sums) to obtain from any Holder of a first lien Mortgage at any time during the Term covering any or all of the Project or the Premises a non-disturbance agreement on Holder’s standard form in favor of Tenant assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust.

Appears in 3 contracts

Samples: Lease Agreement (NextCure, Inc.), Lease Agreement (NextCure, Inc.), Lease Agreement (NextCure, Inc.)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be reasonably requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust.

Appears in 3 contracts

Samples: Lease Agreement, Lease Agreement (Twist Bioscience Corp), Lease Agreement (Twist Bioscience Corp)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of 3115 Xxxxxxxxxx/Erasca - Page 27 execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust.

Appears in 3 contracts

Samples: Lease Agreement (Erasca, Inc.), Lease Agreement (Erasca, Inc.), Lease Agreement (Erasca, Inc.)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Tenant hereby appoints Landlord attorney-in-fact for Tenant irrevocably (such power of attorney being coupled with an interest) to execute, acknowledge and deliver any such instrument and instruments for and in the name of Tenant and to cause any such instrument to be recorded. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. Notwithstanding the foregoing, in no event shall Tenant be required to execute any instruments pursuant to this Section 27 which Tenant reasonably determines contains misstatements of material facts in which case Tenant shall immediately notify Landlord in writing of the existence of such misstatements of material facts. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust.

Appears in 3 contracts

Samples: Lease Agreement (Kala Pharmaceuticals, Inc.), Lease Agreement (Kala Pharmaceuticals, Inc.), Lease Agreement (Kala Pharmaceuticals, Inc.)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage first mortgage, now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however provided however, that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder holder of any such Mortgagefirst mortgage shall not disturb the tenancy of Tenant, provided that Tenant is not in default under this Lease. Tenant agrees, at the election of the Holder holder of any such Mortgagemortgage, to attorn to any such Holderholder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, provided such subordination agreement shall contain an agreement of non-disturbance by the mortgagee with respect to Tenant, provided that Tenant is not in default under this Lease, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring holder and are agreeable to Landlord and Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder holder may at any time subordinate its Mortgage mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage mortgage and had been assigned to such Holderholder. The term “Mortgagemortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holderholder” of a Mortgage mortgage shall be deemed to include the beneficiary under a deed of trust.

Appears in 3 contracts

Samples: Lease Agreement (Sanfilippo John B & Son Inc), Lease Agreement (Sanfilippo John B & Son Inc), Lease Agreement (Sanfilippo John B & Son Inc)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand agrees, within 10 days following Landlord written demand, to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be reasonably requested by any such Holder, provided any such instruments contain appropriate commercially reasonable non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust.

Appears in 3 contracts

Samples: Lease Agreement (Regulus Therapeutics Inc.), Lease Agreement (Turning Point Therapeutics, Inc.), Lease Agreement (Regulus Therapeutics Inc.)

Subordination. This Landlord shall have the right to cause this Lease to be and Tenant’s interest and rights hereunder are hereby made and shall be remain subject and subordinate at to any and all times to the lien mortgages, deeds of trust and ground leases, if any Mortgage (“Encumbrances”) that are now existing or may hereafter created on or against the Project or be executed covering the Premises, and all amendments, restatements, or any renewals, modifications, consolidations, refinancing, assignments and replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the necessity time or character of any further instrument or act on such advances, together with interest thereon and subject to all the part of Tenantterms and provisions thereof; providedprovided only, however that so long and as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn an express condition precedent to any such subordination of this Lease to an Encumbrance hereafter executed covering the Premises, that the holder of such Encumbrance (“Holder”) shall agree to recognize Tenant’s rights under this Lease upon the foreclosure or termination, as applicable, of such Encumbrance as long as Tenant shall pay the Rent and observe and perform all the provisions of this Lease to be observed and performed by Tenant. Within ten (10) days after Landlord’s written request, Tenant agrees upon demand to shall execute, acknowledge and deliver such instruments, confirming any and all reasonable documents required by Landlord or the Holder to effectuate such subordination, and provided that, concurrently with the execution of such instruments subordination documents, the Holder shall execute a nondisturbance agreement in favor of attornment as Tenant consistent with the terms of this Paragraph 31. If Tenant fails to do so, such failure shall be requested constitute a Default by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of Tenant under this Lease. Notwithstanding anything to the Premises as contrary set forth in Section 24 hereof. Notwithstanding this Paragraph 31, Tenant hereby attorns and agrees to attorn to any person or entity purchasing or otherwise acquiring the foregoing, any such Holder may Premises at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery sale or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior other proceeding or pursuant to the execution, delivery and recording exercise of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrancesrights, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary powers or remedies under a deed of trustsuch Encumbrance.

Appears in 3 contracts

Samples: Lease Agreement (Theravance Biopharma, Inc.), Lease Agreement (Theravance Biopharma, Inc.), Lease Agreement (Threshold Pharmaceuticals Inc)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made is and shall automatically be subject and subordinate at to all times to the lien mortgages and deeds of any Mortgage trust (collectively, “Encumbrance”) which may now existing or hereafter created on or against the Project or affect the Premises, to the CC&R’s and to all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments replacements and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunderhowever, Tenant’s right to possession of (i) if the Premises shall not be disturbed by the Holder holder or holders of any such Mortgage. Encumbrance (“Holder”) shall require that this Lease be prior and superior thereto, then upon written notice from Holder to Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed automatically prior and superior to the lien of such Mortgage Encumbrance without regard to their respective dates the sequence of executionrecordation, delivery or recording and in (ii) such subordination is subject to the requirement that event such Holder agree not to disturb Tenant’s rights under this Lease, so long as Tenant is not in Default under the provisions of this Lease; Within ten (10) days after Landlord or Holder’s written request, Tenant shall have the same rights with respect execute any and all documents requested by Landlord or Holder to further effectuate and evidence such subordination of this Lease as though to any lien of the Encumbrance or to evidence the Holder’s election that this Lease had been executed be prior and senior to the executionEncumbrance. Notwithstanding anything to the contrary set forth in this Paragraph, delivery Tenant hereby attorns and recording agrees to attorn to the Holder and any person purchasing or otherwise acquiring the Premises at any sale or other proceeding or pursuant to the exercise of any other rights, powers or remedies under such Encumbrance, which obligation to attorn shall survive any foreclosure of any Encumbrance; and Tenant agrees within ten (10) days after request of Holder or any such other person to execute an attornment agreement recognizing Holder or such other person as Landlord under this Lease and acknowledging that this Lease is and shall remain in full force and effect and binding upon Tenant notwithstanding any foreclosure of such Mortgage and had been assigned to such HolderEncumbrance. The term “Mortgage” whenever used in Tenant acknowledges that, as of the date of this Lease shall be deemed to include deeds of trustLease, security assignments and any other encumbrances, and any reference the Property is subject to the “Holder” lien of a Mortgage shall be deemed to include the beneficiary under a deed of trusttrust for the benefit of Xxxxx Fargo Bank, National Association (“Xxxxx”).

Appears in 3 contracts

Samples: Office Lease Agreement, Office Lease Agreement (Geron Corp), Office Lease Agreement (Geron Corp)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however provided that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such MortgageMortgage delivers to Tenant a subordination, non-disturbance and attornment agreement on such holder’s standard and customary form provided that such holder is an institutional lender or investor. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust.

Appears in 2 contracts

Samples: Lease (Bluebird Bio, Inc.), Lease Agreement (Bluebird Bio, Inc.)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust.. Landlord represents and warrants to Tenant that, as of the date of this Lease, there is no existing Mortgage encumbering the Project. Net Multi-Tenant Laboratory 6225 Nxxxx Xxxxx/Cue - Page 25

Appears in 2 contracts

Samples: Lease Agreement (Cue Health Inc.), Lease Agreement (Cue Health Inc.)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Tenant hereby appoints Landlord attorney-in-fact for Tenant irrevocably (such power of attorney being coupled with an interest) to execute, acknowledge and deliver any such instrument and instruments for and in the name of Tenant and to cause any such instrument to be recorded. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust. Landlord represents and warrants that as of the date of this Lease, there is no existing Mortgage encumbering the Project. Upon written request from Tenant, Landlord shall use reasonable efforts to obtain for execution by Tenant a commercially reasonable form of non-disturbance and attornment agreement executed by the Holder of any future Mortgage with a lien on the Project which provides, among other things, that so long as Tenant is not in Default of its obligations under this Lease, foreclosure or other enforcement of such Mortgage shall not terminate this Lease and the successor to Landlord’s interest in the Project shall recognize this Lease and Tenant’s right to possession of the Premises.

Appears in 2 contracts

Samples: Lease Agreement, Lease Agreement (Ligand Pharmaceuticals Inc)

Subordination. This Landlord represents and warrants to Tenant that, as of the date of this Lease, there is no mortgage or deed of trust recorded against the Property. Landlord shall have the right to cause this Lease to be and Tenant’s interest and rights hereunder are hereby made and shall be remain subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendmentsmortgages, restatementsdeeds of trust (“Encumbrances”) which may hereafter be executed covering the Property, or any renewals, modifications, consolidations, refinancing, assignments and replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the necessity time or character of any further instrument or act on such advances, together with interest thereon and subject to all the part of Tenantterms and provisions thereof; provided, however that so long as there is no Default hereunder, Tenant’s right the holder of any such Encumbrance (“Holder”) concurrently provides Tenant with a commercially reasonable non-disturbance agreement pursuant to possession which the Holder agrees that in the event of the Premises foreclosure of any such Encumbrance this Lease shall not be disturbed by terminated and the Holder shall recognize Tenant’s rights under this Lease as long as Tenant shall pay the Rent and observe and perform all the provisions of any such Mortgagethis Lease to be observed and performed by Tenant. Within ten (10) days after Landlord’s written request, Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to shall execute, acknowledge and deliver such instruments, confirming any and all reasonable documents required by Landlord or the Holder to effectuate such subordination. If Tenant fails to do so, and such instruments of attornment as failure continues more than three (3) business days after Landlord’s written notice thereof, such failure shall be requested constitute a Default by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of Tenant under this Lease. Notwithstanding anything to the Premises as contrary set forth in Section 24 hereof. Notwithstanding this Paragraph 30, Tenant hereby attons and agrees to atton to any person or entity purchasing or otherwise acquiring the foregoing, any such Holder may Property at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery sale or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior other proceeding or pursuant to the execution, delivery and recording exercise of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrancesrights, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary powers or remedies under a deed of trustsuch Encumbrance.

Appears in 2 contracts

Samples: Lease Agreement (Silk Road Medical Inc), Lease Agreement (Silk Road Medical Inc)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such commercially reasonable instruments, confirming such subordination, and such commercially reasonable instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate commercially reasonable non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust. As of the date of this Lease, there is no existing Mortgage encumbering the Project. As a condition precedent to Tenant’s execution of a written agreement subordinating this Lease to any future Mortgage, such agreement shall be required to contain commercially reasonable non-disturbance and attornment provisions and such agreement shall be executed by the Holder of any such future Mortgage with a lien on the Project and the same shall provide, among other things, that so long as Tenant is not in Default of its obligations under this Lease, foreclosure or other enforcement of such Mortgage shall not terminate this Lease and the successor to Landlord’s interest in the Project shall recognize this Lease and Tenant’s right to possession of the Premises. Tenant shall be entitled, at Tenant’s sole cost and expense, to record any such subordination non-disturbance and attornment agreement promptly after full execution and delivery of such agreement.

Appears in 2 contracts

Samples: Lease Agreement (Illumina Inc), Lease Agreement (Illumina Inc)

Subordination. This Landlord shall have the right to cause this Lease to be and Tenant’s interest and rights hereunder are hereby made and shall be remain subject and subordinate at to any and all times to the lien mortgages, deeds of trust and ground leases, if any Mortgage ("Encumbrances") that are now existing or may hereafter created on or against the Project or be executed covering the Premises, and all amendments, restatements, or any renewals, modifications, consolidations, refinancing, assignments and replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the necessity time or character of any further instrument or act on such advances, together with interest thereon and subject to all the part of Tenantterms and provisions thereof; providedprovided only, however that so long and as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn an express condition precedent to any such subordination of this Lease to an Encumbrance hereafter executed covering the Premises, that the holder of such Encumbrance ("Holder") shall agree to recognize Tenant's rights under this Lease upon the foreclosure or termination, as applicable, of such Encumbrance as long as Tenant shall pay the Rent and observe and perform all the provisions of this Lease to be observed and performed by Tenant. Within ten (10) days after Landlord's written request, Tenant agrees upon demand to shall execute, acknowledge and deliver such instruments, confirming any and all reasonable documents required by Landlord or the Holder to effectuate such subordination, and provided that, concurrently with the execution of such instruments subordination documents, the Holder shall execute a nondisturbance agreement in favor of attornment as Tenant consistent with the terms of this Paragraph 31. If Tenant fails to do so, such failure shall be requested constitute a Default by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of Tenant under this Lease. Notwithstanding anything to the Premises as contrary set forth in Section 24 hereof. Notwithstanding this Paragraph 31, Tenant hereby attorns and agrees to attorn to any person or entity purchasing or otherwise acquiring the foregoing, any such Holder may Premises at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery sale or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior other proceeding or pursuant to the execution, delivery and recording exercise of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrancesrights, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary powers or remedies under a deed of trustsuch Encumbrance.

Appears in 2 contracts

Samples: Lease Agreement (Theravance Inc), Lease Agreement (Theravance Inc)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust.. Landlord represents and warrants to Tenant that, as of the date of this Lease, there is no existing Mortgage encumbering the Project. Net Lease Net Lease 9877 Xxxxxx/Cue - Page 26

Appears in 2 contracts

Samples: Lease Agreement (Cue Health Inc.), Lease Agreement (Cue Health Inc.)

Subordination. This Lease and Tenant’s 's interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, provided however that so long as there is no Default hereunder, Tenant’s 's right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s 's quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s 's consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. On Tenant's written request, Landlord shall use its commercially reasonable efforts (but with no obligation to pay any out-of-pocket fees or sums) to obtain from any Holder of a first lien Mortgage at any time during the Term covering any or all of the Project or the Premises a non-disturbance agreement on Holders standard form in favor of Tenant assuring Tenant's quiet enjoyment of the Premises as set forth in Section 24 hereof. The term "Mortgage" whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the "Holder" of a Mortgage shall be deemed to include the beneficiary under a deed of trusttrust and any successors and assigns, including, without limitation, any purchaser at a foreclosure sale or taker under a deed in lieu of foreclosure and its or their successors and assigns.

Appears in 2 contracts

Samples: Lease Agreement (Opgen Inc), Lease Agreement (Opgen Inc)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall may be reasonably requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust.

Appears in 2 contracts

Samples: Lease Agreement (Twist Bioscience Corp), Lease Agreement (Twist Bioscience Corp)

Subordination. This Lease and TenantXxxxxx’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project Project, the Building, or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, TenantXxxxxx’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant Xxxxxx agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon within 5 business days following demand to execute, acknowledge and deliver such commercially customary instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include mortgages, deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the mortgagee or beneficiary under a deed of trust. As of the date of this Lease, Landlord represents there is no existing Mortgage encumbering the Project. If during the Term there is a Mortgage encumbering the Project, Xxxxxxxx agrees to use reasonable efforts to cause the Holder of the then-current Mortgage to enter into a subordination, non-disturbance and attornment agreement ("SNDA") with Tenant with respect to this Lease. The SNDA shall be on the commercially customary form proscribed by the Holder, and Landlord shall request that Holder make any commercially reasonable changes to the SNDA requested by Xxxxxx. Landlord’s failure to cause the Holder to enter into the SNDA with Tenant (or make any of the changes requested by Tenant) shall not be a default by Landlord under this Lease.

Appears in 2 contracts

Samples: Lease Agreement (Kymera Therapeutics, Inc.), Lease Agreement (Kymera Therapeutics, Inc.)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust. As of the date of this Lease, there is no existing Mortgage encumbering the Project. Upon written request from Tenant, Landlord agrees to use reasonable efforts to cause the Holder of any future Mortgage to enter into a subordination, non-disturbance and attornment agreement (“SNDA”) with Tenant with respect to this Lease. The SNDA shall be on the form proscribed by the Holder and Tenant shall pay the Holder’s fees and costs in connection with obtaining such SNDA; provided, however, that Landlord shall request that Holder make any reasonable changes to the SNDA requested by Tenant. Landlord’s failure to cause the Holder to enter into the SNDA with Tenant (or make any of the changes requested by Tenant) despite such efforts shall not be a default by Landlord under this Lease.

Appears in 2 contracts

Samples: Lease Agreement (DiCE MOLECULES HOLDINGS, LLC), Lease Agreement (Applied Molecular Transport Inc.)

Subordination. This Xxxxxx agrees that this Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien any first mortgage or deed of any Mortgage trust now existing or hereafter created on or against placed upon the Project Premises or the Premises, Building created by or at the instance of Landlord and to any and all amendments, restatements, advances to be made thereunder and to interest thereon and all renewals, modificationsreplacements, consolidations, refinancing, assignments and or extensions thereof, without thereof (“Landlord’s Mortgage”). Upon demand by Landlord or the necessity holder of any further instrument or act on the part of Tenant; providedLandlord’s Mortgage (“Holder”), however that so long as there is no Default hereunder, Tenant’s right Tenant shall execute and deliver subordination and attornment agreements in form and substance satisfactory to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand shall not be obligated to execute, acknowledge and deliver execute any agreement in favor of Holder to confirm the subordination of this Lease unless such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-agreement contains non- disturbance provisions assuring reasonably acceptable to Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, upon demand of such Holder, such Landlord’s Mortgage shall be subordinate to this Lease; provided, however, that in such event, notwithstanding such subordination, such Landlord’s Mortgage shall be superior to this Lease with respect to (i) the right, claim and lien of the Landlord’s Mortgage in, to and upon any such Holder award or other compensation for any taking by eminent domain of any part of the Premises or the Building and the right of disposition thereof in accordance with the provisions of the Landlord’s Mortgage; and upon any proceeds payable under any policies of fire and rental insurance upon the Premises or the Building and to the right of disposition thereof in accordance with the terms of the Landlord’s Mortgage; (ii) any lien, right or judgment which may have arisen at any time subordinate its under the terms of the Lease; and (iii) such other matters as may be specifically reserved by the Holder of such Landlord’s Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to in connection with such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trustsubordination.

Appears in 2 contracts

Samples: Lease Agreement, Lease Agreement

Subordination. This Provided that the ground Lessor, Lender, or other holder of the interest to which this Lease would be subordinated executes a recognition and non-disturbance agreement reasonably acceptable to Lessee which (i) provides that this Lease shall not be terminated so long as no Breach by Lessee exists under this Lease; and (ii) recognizes all of Lessee's rights hereunder, this Lease and Tenant’s interest and rights hereunder are any Option granted hereby made and shall be subject and subordinate at all times to the lien any ground lease, mortgage, deed of any Mortgage trust, or other hypothecation or security device (collectively, "Security Device"), now existing or hereafter created placed by Lessor upon the real property of which the Premises are part, to any and all advances made on or against the Project or the Premisessecurity thereof, and to all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments replacements and extensions thereofthereof Lessee agrees that the Lenders holding any such Security Device shall have no duty, without the necessity of liability or obligation to perform any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by obligations of Lessor under this Lease, but that in the Holder event of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn Lessor's default with respect to any such Holderobligation, Lessee will give any Lender whose name and address has been furnished Lessee in writing for such purpose notice of Lessor's default and allow such Lender thirty (30) days following receipt of such notice, the cure of said default before invoking any remedies Lessee may have by reason thereof. Tenant agrees upon demand If any Lender shall elect to executehave this Lease and/or any Options granted hereby superior to the lien of its Security Device and shall give written notice thereof to Lessee, acknowledge and deliver such instruments, confirming such subordination, this Lease and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease Options shall be deemed prior to such Mortgage without regard to their respective Security Device, notwithstanding the relative dates of execution, delivery the documentation or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trustrecordation thereof.

Appears in 2 contracts

Samples: Rita Medical Systems Inc, Rita Medical Systems Inc

Subordination. This (a) The rights and interest of Tenant under this Lease and Tenantany and all liens, rights, and interests (whether xxxxxx or inchoate and including, without limitation, all mechanic’s interest and rights hereunder materialmen’s liens under applicable law) owed, claimed, or held by Tenant in and to the Leased Property are hereby made and shall be subject in all respects subject, subordinate, and subordinate at inferior to the Loan and the Loan Documents and to the liens, security interests, and all times other rights and interest created or to be created therein or thereby for the benefit of Lender, and securing the repayment of the Loan including, without limitation, those created under the Mortgage covering, among other things, the Leased Property, and filed or to be filed of record in the public records maintained for the recording of mortgages in the jurisdictions where the Leased Property is located, and all renewals, extensions, increases, supplements, spreaders, consolidations, amendments, modifications, and replacements thereof and to all sums secured thereby and advances made thereunder with the same force and effect as if the Loan had been executed and delivered and the Mortgage recorded prior to the execution and delivery of this Lease. At its option and in its sole discretion, Lender may elect to give the rights and interest of Tenant under this Lease priority over the lien of any the Mortgage. In the event of such election, the rights and interest of Tenant under this Lease automatically shall have priority over the lien of the Mortgage now existing and no additional consent or hereafter created on instrument shall be necessary or against the Project or the Premisesrequired. However, Tenant agrees to execute and deliver whatever instruments may be reasonably requested by Lender for such purposes, and all amendmentsin the event Tenant fails so to do after demand in writing, restatementsTenant does hereby make, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordinationconstitute, and such instruments of attornment irrevocably appoint Landlord as shall be requested by any such Holderits attorney-in-fact and in its name, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenantplace, and thereupon this Lease shall be deemed prior stead so to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trustdo.

Appears in 2 contracts

Samples: Lease Agreement (ESH Hospitality LLC), Lease Agreement (ESH Hospitality LLC)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand agrees, within 10 days following Landlord written demand, to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be reasonably requested by any such Holder, provided any such instruments contain appropriate commercially reasonable non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to 732202571.1 such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust.

Appears in 2 contracts

Samples: Assignment and Assumption of Lease (Turning Point Therapeutics, Inc.), Lease Agreement (Regulus Therapeutics Inc.)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust. As of the date of this Lease, there is no existing Mortgage encumbering the Project. Upon request of Tenant, Landlord shall deliver to Tenant an agreement (“SNDA”) from any future Holder of a Mortgage on the Project, if any, that such Holder will recognize and not disturb Tenant’s right of possession pursuant to this Lease provided that Tenant is not in Default under this Lease. The SNDA shall be on the form proscribed by the Holder and Tenant shall pay the Holder’s fees and costs in connection with obtaining such SNDA; provided, however, that Landlord shall request that Holder make any changes to the SNDA requested by Tenant. Landlord’s failure to cause the Holder to enter into the SNDA with Tenant (or make any of the changes requested by Tenant) shall not be a default by Landlord under this Lease.

Appears in 2 contracts

Samples: Lease Agreement (Xeris Pharmaceuticals Inc), Lease Agreement (Translate Bio, Inc.)

Subordination. This Lease and Tenant’s 's interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s 's right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s 's quiet enjoyment of the Premises as set forth in Section 24 hereof. Tenant hereby appoints Landlord attorney-­in-fact for Tenant irrevocably (such power of attorney being coupled with an interest) to execute, acknowledge and deliver any such instrument and instruments for and in the name of Tenant and to cause any such instrument to be recorded. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s 's consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust.

Appears in 2 contracts

Samples: Lease Agreement (Stem Cell Assurance, Inc.), Lease Agreement (Stem Cell Assurance, Inc.)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made is and shall be subject subordinate to any encumbrance now of record or recorded after the date of this Lease affecting the Building, other improvements and subordinate at all times to land of which the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, Premises are a part. Such subordination is effective without the necessity of any further instrument or act on the part of Tenant; providedLessee. Within ten (10) business days after the Commencement Date, however Lessor must obtain and deliver to Lessee a non-disturbance and attornment agreement, executed by Lessor’s lender providing in substance that this Lease shall not be terminated by Lessor’s lender so long as there is no Lessee has not committed an Event of Default hereunder, Tenant’s right to possession which Event of Default has not been cured after the giving of the Premises appropriate notice required by Paragraph 19 hereof and that if any lender instructs Lessee to pay any Rent to said lender said payment will be deemed to be the payment of such rental obligation under this Lease. Lessee shall not from time to time on written request from Lessor execute and deliver any commercially reasonable documents or instruments that may be disturbed required by a lender to effectuate any subordination of this Lease to any encumbrance now of record or recorded after the Holder date of this Lease on the condition that any such Mortgage. Tenant agrees, at instrument contain a quiet enjoyment clause guaranteeing Lessee’s rights hereunder so long as Lessee does not commit an Event of Default which is not cured after the election giving of the Holder of appropriate notice required by Paragraph 19 hereof. Lessee’s failure to so execute any such Mortgage, document after ten (10) business days’ written notice to attorn to any Lessee requesting such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease execution shall be deemed to include deeds be an Event of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary Default under a deed of trustthis Lease.

Appears in 2 contracts

Samples: Net Commercial Lease, Net Commercial Lease (Audentes Therapeutics, Inc.)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises and Tenant’s other rights and interests to the Premises and the Project under this Lease shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such commercially reasonable instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust. As of the date of this Lease, there is no existing Mortgage encumbering the Project.

Appears in 2 contracts

Samples: Lease Agreement (ONCOSEC MEDICAL Inc), Lease Agreement (ONCOSEC MEDICAL Inc)

Subordination. This Lease and Tenant’s 's interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage first mortgage, now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder holder of any such Mortgagemortgage, to attorn to any such Holderholder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, subordination and such instruments of attornment as shall be requested by any such Holderholder. Tenant hereby appoints Landlord attorney in fact for Tenant irrevocably (such power of attorney being coupled with an interest) to execute, provided acknowledge and deliver any such instrument and instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment for and in the name of the Premises as set forth in Section 24 hereofTenant and to cause any such instrument to be recorded. Notwithstanding the foregoing, any such Holder holder may at any time subordinate its Mortgage mortgage to this Lease, without Tenant’s 's consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage mortgage and had been assigned to such Holderholder. The term “Mortgage” "mortgage" whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” "holder" of a Mortgage mortgage shall be deemed to include the beneficiary under a deed of trust. Tenant shall not be obligated to subordinate the Lease or its interest therein to any future mortgage, deed of trust or ground lease on the Project unless concurrently with such subordination the holder of such mortgage or deed of trust or the ground lessor under such ground lease agrees not to disturb Tenant's possession of the Premises under the terms of the Lease and agrees to assume Landlord's obligations under this Lease in the event such holder or ground lessor acquires title to the Premises through foreclosure, deed in lieu of foreclosure or otherwise.

Appears in 2 contracts

Samples: Lease Agreement (Celerity Group Inc), Lease Agreement (Celerity Group Inc)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease On Tenant’s written request, Landlord shall be deemed use its commercially reasonable efforts (but with no obligation to include deeds of trust, security assignments and pay any other encumbrances, and out-of-pocket fees or sums) to obtain from any reference to the “Holder” Holder of a first lien Mortgage shall be deemed to include at any time during the beneficiary under a deed of trust.Term covering

Appears in 2 contracts

Samples: Lease Agreement (Glycomimetics Inc), Lease Agreement (Glycomimetics Inc)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however provided that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such MortgageMortgage delivers to Tenant a subordination, non-disturbance and attornment agreement on such holder’s standard and customary form provided that such holder is an institutional lender or investor. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust.

Appears in 2 contracts

Samples: Lease Agreement (Foundation Medicine, Inc.), Lease Agreement (Foundation Medicine, Inc.)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, as a condition to any future subordination, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust. As of the date of this Lease, there is no existing Mortgage encumbering the Project. As a condition to the subordination of this Lease to a future Mortgage, Landlord shall obtain for execution by Tenant a form of subordination, non-disturbance and attornment agreement (“SNDA”) executed by the Holder of any future Mortgage with a lien on the Project. The SNDA shall be on the form proscribed by the Holder and Tenant shall pay the Holder’s fees and costs in connection with obtaining such SNDA; provided, however, that Landlord shall request that Holder make any changes to the SNDA requested by Tenant. Landlord’s failure to cause the Holder to make any of the changes requested by Tenant shall not be a default by Landlord under this Lease.

Appears in 2 contracts

Samples: Lease Agreement (Fate Therapeutics Inc), Lease Agreement (Fate Therapeutics Inc)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming Net Multi-Tenant Laboratory 75 Shoreway/Allakos - Page 23 such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust.

Appears in 2 contracts

Samples: Lease Agreement (Allakos Inc.), Lease Agreement (Allakos Inc.)

Subordination. This Lease and TenantXxxxxx’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, TenantXxxxxx’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant Xxxxxx agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant Xxxxxx agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust.

Appears in 2 contracts

Samples: Lease Agreement (Contineum Therapeutics, Inc.), Lease Agreement (RayzeBio, Inc.)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed (including Tenant’s right to quiet enjoyment as set forth in Section 24) by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust.. As of the date of this Lease, there is no existing Mortgage encumbering the Project. Landlord agrees to use reasonable efforts to cause the Holder of any future Mortgage to enter into a subordination, non-disturbance and attornment agreement (“SNDA”) with Tenant with respect to this Lease. The SNDA shall be on the form proscribed by the Holder and Tenant shall pay the Holder’s fees and costs in connection with obtaining such SNDA; provided, however, that Landlord shall request that Holder make any changes to the SNDA requested by Tenant. Landlord’s failure to cause the Holder to enter into the SNDA with Tenant (or make any of the changes requested by Tenant) shall not be a default by Landlord under this Lease

Appears in 2 contracts

Samples: Lease Agreement (Gossamer Bio, Inc.), Lease Agreement (Gossamer Bio, Inc.)

Subordination. This Lease The rights and Tenant’s interest interests of Customer under this Service Agreement and rights hereunder are hereby made in and to the Premises shall be subject and subordinate at to all times easements and recorded restrictions, covenants, and agreements pertaining to the lien of Project, or any Mortgage now existing or hereafter created on or against the Project or the Premisespart thereof, and to all amendmentsdeeds of trust, restatementsmortgages, and other security instruments and to all renewals, modifications, consolidations, refinancing, assignments replacements and extensions thereofthereof (the “Security Documents”) heretofore or hereafter executed by Service Provider covering the Premises, without the necessity of Building or any further instrument or act on the part of Tenantthe Project, to the same extent as if the Security Documents had been executed, delivered and recorded prior to the execution of this Service Agreement; provided, however however, that the subordination of this Service Agreement to the lien of any Security Documents hereafter placed on the Project or any portion thereof shall be contingent upon Customer being provided with a non-disturbance agreement reasonably acceptable to Customer and the holder of the interest under such Security Documents whereby such holder agrees that Customer’s right to quiet enjoyment of the Premises and all other rights of Customer hereunder will not be disturbed in the event of a foreclosure of such holder’s interest under such instrument, so long as there is no a Default by Customer does not occur hereunder. After Customer’s receipt of a written notice from Service Provider that it has entered into one or more Security Documents, Tenant’s then, during the term of such Security Documents, Customer shall deliver to the holder or holders of all Security Documents a copy of all notices to Service Provider and shall grant to such holder or holders the right to possession cure all defaults, if any, of Service Provider hereunder within the same time period provided in this Service Agreement for curing such defaults by Service Provider and, except with the prior written consent of the Premises holder or holders of the Security Documents, shall not be disturbed by the Holder surrender or terminate this Service Agreement except pursuant to a right to terminate expressly set forth in this Service Agreement and shall attorn to any holder of any such MortgageSecurity Documents or its successor in interest by foreclosure or otherwise. Tenant agreesThe provisions of this subsection shall be self-operative and shall not require further agreement by Customer; however, at the election request of Service Provider, Customer shall execute such further documents as may be required by the Holder holder of any such MortgageSecurity Documents. At any time and from time to time upon not less than ten (10) days’ prior notice by Service Provider, to attorn to any such Holder. Tenant agrees upon demand to Customer shall execute, acknowledge and deliver to the Service Provider a written estoppel certificate certifying: (i) the Rentable Area of the Premises, (ii) the Commencement Date and Expiration Date of this Service Agreement, (iii) the Base Rent, Base Rent Adjustment and expense stop, (iv) that this Service Agreement is unmodified and in full force and effect, or if there have been modifications, that the same is in full force and effect as modified and stating the modifications, (v) to Customer’s knowledge, whether or not the Service Provider is in default in the keeping, observance or performance of any covenant, agreement, term, provision or condition of this Service Agreement and, if so, specifying each such instrumentsdefault, confirming (vi) that Customer has unconditionally accepted and occupied the Premises, (vii) to Customer’s knowledge, that all requirements of the Service Agreement have been complied with and no charges, set-offs or other credits exist against any rentals, (viii) that Customer has not assigned, pledged, sublet, or otherwise transferred any interest in this Service Agreement; and (ix) such subordinationother matters as Service Provider may reasonably request, it being intended that any such statement may be relied upon by any prospective purchaser, mortgagee or assignee of any mortgage of the Building or the Project or of the Service Provider’s interest therein. Service Provider shall use commercially reasonable efforts to secure from each holder of a security interest under a Security Document an agreement reasonably acceptable to Customer and such instruments of attornment as shall be requested by any holder whereby such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenantholder agrees that Customer’s right to quiet enjoyment of the Premises as set forth hereunder will not be disturbed in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates event of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording a foreclosure of such Mortgage and had been assigned to holder’s interest under such Holderinstrument, so long as a Default by Customer does not occur hereunder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds Service Provider represents that, as of trustthe Effective Date hereof, security assignments and there are no Security Documents encumbering the Project or any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trustportion thereof.

Appears in 2 contracts

Samples: Service Agreement (Xenith Bankshares, Inc.), Service Agreement (Xenith Bankshares, Inc.)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall shah have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. As of the Commencement Date, no Mortgage encumbers the Project. Landlord shall use its commercially reasonable efforts (but with no obligation to pay any out-of-pocket fees or sums except reasonable attorneys’ fees and costs) to obtain from any Holder of a first lien Mortgage at any time during the Term covering any or all of the Project or the Premises a non-disturbance agreement on Holder’s standard form in favor of Tenant assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments assignments, ground leases, and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust.

Appears in 2 contracts

Samples: Lease Agreement (NextCure, Inc.), Lease Agreement (NextCure, Inc.)

Subordination. Landlord represents and warrants to Tenant that as of the Commencement Date the Premises will not be pledged, mortgaged or otherwise encumbered. This Lease and Tenant’s 's interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage first mortgage, now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however provided that so long as there is no Default hereunderTenant receives from such mortgagee a commercially reasonable non-disturbance agreement. In such event, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder holder of any such Mortgagemortgage, to attorn to any such Holderholder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, subordination and such instruments of attornment as shall be reasonably requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereofholder. Notwithstanding the foregoing, any such Holder holder may at any time subordinate its Mortgage mortgage to this Lease, without Tenant’s 's consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage mortgage and had been assigned to such Holderholder. The term “Mortgage” "mortgage" whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” "holder" of a Mortgage mortgage shall be deemed to include the beneficiary under a deed of trust.

Appears in 1 contract

Samples: Lease Agreement (Cirrus Logic Inc)

Subordination. This Lease and Tenant’s 's interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage mortgage, now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder holder of any such Mortgagemortgage, to attorn to any such Holderholder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, subordination and such instruments of attornment as shall be requested by any such Holderholder. Tenant hereby appoints Landlord's attorney in fact for Tenant irrevocably (such power of attorney being coupled with an interest) to execute, provided acknowledge and deliver any such instrument and instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment for and in the name of the Premises as set forth in Section 24 hereofTenant and to cause any such instrument to be recorded. Notwithstanding the foregoing, any such Holder holder may at any time subordinate its Mortgage mortgage to this Lease, without Tenant’s 's consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage mortgage and had been assigned to such Holderholder. The term “Mortgage” "mortgage" whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” "holder" of a Mortgage mortgage shall be deemed to include the beneficiary under a deed of trust.

Appears in 1 contract

Samples: Lease Agreement (4th Grade Films Inc)

Subordination. This Lease and TenantTxxxxx’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, TenantTxxxxx’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant Txxxxx agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant Txxxxx agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust. As of the Effective Date, there is no existing Mortgage encumbering the Project.

Appears in 1 contract

Samples: Lease Agreement (CARGO Therapeutics, Inc.)

Subordination. This Concurrent with the execution of this Lease, Landlord and Tenant shall execute, acknowledge and deliver a subordination, non-disturbance and attornment agreement in the form attached hereto as Exhibit J (the "SNDA"), and, in the event that Landlord's Lender has not executed and delivered the SNDA on or before such date, Landlord shall use its reasonable efforts to obtain from Landlord's Lender as soon as possible thereafter the SNDA executed and acknowledged by Landlord's Lender. In the event Landlord fails to deliver to Tenant an original counterpart of the SNDA executed and acknowledged by Landlord's Lender within fifteen (15) days after the date of this Lease, Tenant shall have the option to terminate this Lease by and Tenant’s interest effective upon five (5) business days' written notice delivered to Landlord, provided that if Landlord delivers to Tenant such SNDA executed and rights hereunder are hereby made acknowledged by Landlord's Lender prior to the expiration of such five (5) business day period, such notice of termination shall be void and of no further force or effect and this Lease shall continue in effect, subject to the terms and conditions hereof. Subject to the foregoing, this Lease shall be subject and subordinate at all times to (i) all ground or underlying leases which may hereafter be executed affecting the lien Building and (ii) the liens of any Mortgage now existing or all mortgages and deeds of trust hereafter created placed on or against the Project Building or the Premiseson or against Landlord's interest or estate therein or on or against all such ground or underlying leases, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any having further instrument or act instruments executed on the part of TenantTenant to effect such subordination; provided, however however, that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. future subordination of this Lease shall be conditioned upon concurrent delivery to Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such a subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance and attornment agreement on such future lender's or ground lessor's standard form, which Tenant hereby covenants to execute as long as such agreement contains terms consistent with the provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereofSNDA and is otherwise consistent with then customary industry and commercially reasonable practices of institutional encumbrancers. Notwithstanding the foregoing, any such Holder may at any time lender or ground lessor shall have the right by written notice to Tenant, to subordinate its Mortgage deed of trust, mortgage or ground lease, as applicable, to this Lease, without Tenant’s consentand upon such notice, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard deed of trust, mortgage or ground lease. Tenant agrees to their respective dates execute and deliver upon demand such further instruments evidencing such subordination of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to such ground or underlying leases, and to the execution, delivery and recording liens of any such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include mortgages or deeds of trust, security assignments and any other encumbrancesas may be requested by Landlord and/or in such form as is reasonably required by such future lessor or lender, respectively (including provisions waiving as against lender claims of, and giving to lender notice of and the right to cure, Landlord defaults under the Lease). Landlord authorizes Tenant to comply with any reference notice from Landlord's Lender directing Tenant to forward all future rents and other sums payable by Tenant under the “Holder” Lease to such address specified in any such notice from Landlord's Lender. In no event shall Tenant be charged by Landlord for, or be required by Landlord to incur any costs for, or in connection with, the execution or delivery of a Mortgage any SNDA (except for Tenant's own legal expenses), and Landlord shall be deemed not pass through as an Operating Expense any cost paid or incurred by Landlord in connection therewith. Landlord warrants and represents that as of the date hereof, there exist no liens or encumbrances on the Building, the Project or the Premises superior to include this Lease (other than liens for Real Estate Taxes) and the beneficiary under lien of a deed of trusttrust in favor of Universal American Mortgage Company of California, which if enforced or foreclosed would result in the termination of this Lease. 25.

Appears in 1 contract

Samples: Schwab Charles Corp

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be reasonably requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust.

Appears in 1 contract

Samples: Lease Agreement (Arbutus Biopharma Corp)

Subordination. This Lease and TenantTxxxxx’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or and, conditioned upon the grant to Tenant of a customary and commercially reasonable nondisturbance agreement from the holder thereof, shall be subject and subordinate to the lien of any Mortgage hereafter created on or against the Project Hotel or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant Txxxxx agrees, at the election of the Holder holder of any such Mortgage, to attorn to any such HolderHolder provided the Holder executes a customary and commercially reasonable subordination, attornment and nondisturbance agreement. Tenant Txxxxx agrees upon demand to execute, acknowledge and deliver such instrumentsa Subordination, Non- disturbance and Attornment Agreement confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust. The Landlord and Tenant shall cooperate with one another and agree to each use diligence and good faith in arranging with the holder of each existing Mortgage and each holder of future Mortgages encumbering the Premises a commercially reasonable subordination and nondisturbance agreement between each such holders and the Tenant.

Appears in 1 contract

Samples: Lease Agreement (Neonc Technologies Holdings, Inc.)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises and Tenant’s other rights and interests to the Premises and the Project under this Lease shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such commercially reasonable instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust.

Appears in 1 contract

Samples: Lease Agreement (Singular Genomics Systems, Inc.)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the written election of the Holder of any such Mortgage and upon a foreclosure (or delivery of a deed-in-lieu of foreclosure) of such Mortgage, to attorn to any such Holder. Tenant agrees upon written demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such reasonable instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust.. 8800 Technology Forest/Nurix Therapeutics - Page 25

Appears in 1 contract

Samples: Lease Agreement (Nurix Therapeutics, Inc.)

Subordination. This Lease and Tenant’s 14.01. Tenant agrees that, except as provided on Section 14.02 hereof, interest and rights hereunder are hereby made is and shall be subject and subordinate at all times to the lien of any Mortgage now existing mortgage, deed of trust or other encumbrance (including, but not limited to, sale-leases back transaction), together with any renewals, extensions or replacements thereof, hereafter created on placed, charged or enforced against the Project Leased Property, or any portion thereof, or any property of which the PremisesLeased Property is apart, and Tenant shall execute and deliver at any time, and from time to time, upon demand by Landlord, such documents as may be required to effectuate such subordination, and in the event that Tenant shall fail, neglect or refuse to execute and deliver any such documents to be executed by it, Tenant hereby appoints Landlord, its successors and assigns, the attorney-in-fact of Tenant irrevocably to execute and deliver any and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments such documents for and extensions thereof, without the necessity of any further instrument or act on the part behalf of Tenant; provided, however however, that such subordination shall be effective without any such document; provided, further, however, the Tenant shall not be required to effectuate such subordination, nor shall Landlord be authorized to effectuate such subordination on behalf of Tenant, unless the mortgagee, beneficiary or ground lessor named in such encumbrance shall first agree in writing, for the benefit of Tenant, that so long as there Tenant is no Default hereundernot in default under any of the provisions, covenants or conditions of this lease on the part of Tenant to be kept and performed, neither this lease nor any of rights of Tenant hereunder shall be terminated or modified or be subject to termination or modification, nor shall Tenant’s right to 's possession of the Premises shall not Leased Property be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consentdisturbed, by notice in writing proceedings to Tenantforeclose said mortgage, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trusttrust or other encumbrance.

Appears in 1 contract

Samples: Lease Agreement (Onecap)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Tenant hereby appoints Landlord attorney-in-fact for Tenant irrevocably (such power of attorney being coupled with an interest) to execute, acknowledge and deliver any such instrument and instruments for and in the name of Tenant and to cause any such instrument to be recorded. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust. As of the date of this Lease, there is no existing Mortgage encumbering the Project. Upon written request from Tenant, Landlord shall endeavor to obtain for execution by Tenant a commercially reasonable form of non-disturbance and attornment agreement (“SNDA”) executed by the Holder of any future Mortgage with a lien on the Project which provides, among other things, that so long as Tenant is not in Default of its obligations under this Lease, foreclosure or other enforcement of such Mortgage shall not terminate this Lease and the successor to Landlord’s interest in the Project shall recognize this Lease and Tenant’s right to possession of the Premises. The SNDA shall be on the form proscribed by the Holder and Tenant shall pay the Holder's fees and costs in connection with obtaining such SNDA; provided, however, that Landlord shall request that Holder make any changes to the SNDA reasonably requested by Tenant. Landlord's failure to cause the Holder to enter into the SNDA with Tenant (or make any of the changes requested by Tenant) shall not be a default by Landlord under this Lease.

Appears in 1 contract

Samples: Lease Agreement (Phaserx, Inc.)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage first mortgage, now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however provided however, that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder holder of any such Mortgagefirst mortgage shall not disturb the tenancy of Tenant, provided that Tenant is not in default under this Lease. Tenant agrees, at the election of the Holder holder of any such Mortgagemortgage, to attorn to any such Holderholder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, provided such subordination agreement shall contain an agreement of non-disturbance by the mortgagee with respect to Tenant, provided that Tenant is not in default under this Lease, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring bolder and are agreeable to Landlord and Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder holder may at any time subordinate its Mortgage mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage mortgage and had been assigned to such Holderholder. The term “Mortgagemortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holderholder” of a Mortgage mortgage shall be deemed to include the beneficiary under a deed of trust.

Appears in 1 contract

Samples: Lease Agreement (Sanfilippo John B & Son Inc)

Subordination. This Landlord shall have the right to cause this Lease to be and Tenant’s interest and rights hereunder are hereby made and shall be remain subject and subordinate at to any and all times to the lien mortgages, deeds of trust and ground leases, if any Mortgage ("ENCUMBRANCES") that are now existing or may hereafter created on or against the Project or be executed covering the Premises, and all amendments, restatements, or any renewals, modifications, consolidations, refinancing, assignments and replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the necessity time or character of any further instrument or act on such advances, together with interest thereon and subject to all the part of Tenant; providedterms and provisions thereof, however that so long provided only, and as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn an express condition precedent to any such Holdersubordination of this Lease to an Encumbrance hereafter executed covering the Premises, the holder of such Encumbrance ("HOLDER") shall agree to recognize Tenant's rights under this Lease upon the foreclosure or termination, as applicable, of such Encumbrance as long as Tenant shall pay the Rent and observe and perform all the provisions of this Lease to be observed and performed by Tenant. Within ten (10) days after Landlord's written request, Tenant agrees upon demand to shall execute, acknowledge and deliver such instruments, confirming any and all reasonable documents required by Landlord or the Holder to effectuate such subordination, and provided that, concurrently with the execution of such instruments subordination documents, the Holder shall execute a nondisturbance agreement in favor of attornment as Tenant consistent with the terms of this Paragraph 31. If Tenant fails to do so, such failure shall be requested constitute a Default by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of Tenant under this Lease. Notwithstanding anything to the Premises as contrary set forth in Section 24 hereof. Notwithstanding this Paragraph 31, Tenant hereby attorns and agrees to attorn to any person or entity purchasing or otherwise acquiring the foregoing, any such Holder may Premises at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery sale or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior other proceeding or pursuant to the execution, delivery and recording exercise of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrancesrights, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary powers or remedies under a deed of trustsuch Encumbrance.

Appears in 1 contract

Samples: Lease Agreement (Advanced Medicine Inc)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust.. Net Multi-Tenant Office/Laboratory 825 Industrial – Suite 400/Iovance Biotherapeutics - Page 24

Appears in 1 contract

Samples: Lease Agreement (Iovance Biotherapeutics, Inc.)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such reasonable instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereofhereof and not diminishing any of Tenant’s rights under this Lease. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s Tenants consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust. Landlord agrees to use reasonable efforts to cause the Holder of the current Mortgage to enter into a subordination, non-disturbance and attornment agreement (“SNDA”) with Tenant with respect to this Lease. The SNDA shall be on the form proscribed by the Holder and Tenant shall pay the Holder’s fees and costs in connection with obtaining such SNDA; provided, however, that Landlord shall request that Holder make any changes to the SNDA requested by Tenant. Landlord’s failure to cause the Holder to enter into the SNDA with Tenant (or make any of the changes requested by Tenant) shall not be a default by Landlord under this Lease. If Landlord fails to obtain an SNDA from the Holder substantially in the form previously approved by Tenant within 60 days after the full execution and delivery of this Lease, Tenant shall have the right to terminate this Lease. If Tenant fails to terminate this Lease by delivering written notice to Landlord of such election within 5 business days after the expiration of such 60 day period, Tenant shall have no further right to terminate this Lease as a result of Landlord’s failure to obtain the SNDA.

Appears in 1 contract

Samples: Lease Agreement (Poniard Pharmaceuticals, Inc.)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand agrees, within 10 days following Landlord written demand, to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be reasonably requested by any such Holder, provided any such instruments contain appropriate commercially reasonable non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust. 28.

Appears in 1 contract

Samples: Lease Agreement (Regulus Therapeutics Inc.)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder and upon such attornment, Tenant shall be released from Tenant’s obligation to pay Rent thereafter coming due hereunder to Landlord and shall instead pay such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, commercially reasonable instruments mutually acceptable to Holder and Tenant confirming such subordination, and such commercially reasonable instruments of attornment as shall be requested by any such Holdermutually acceptable to Holder and Tenant, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust. Landlord represents and warrants that, as of the date of this Lease, there is no Mortgage encumbering the Premises or the Project.

Appears in 1 contract

Samples: Lease Agreement (Nektar Therapeutics)

Subordination. This Lease and Tenant’s 's interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage Mortgage, now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s 's right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver a Subordination, Non-disturbance and Attornment Agreement in the form attached hereto as Exhibit H, or such other instruments, confirming such subordination, subordination and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s 's quiet enjoyment of the Premises as set forth in Section 24 hereofhereof and a copy of the same executed by any such Holder is delivered to Tenant. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s 's consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term "Mortgage" whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the "Holder" of a Mortgage mortgage shall be deemed to include the beneficiary under a deed of trust.

Appears in 1 contract

Samples: Lease Agreement (Viacell Inc)

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Subordination. This Lease and Tenant’s 's interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage first mortgage, now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder holder of any such Mortgagemortgage, to attorn to any such Holderholder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, subordination and such instruments of attornment as shall be requested by any such Holderholder. Tenant hereby appoints Landlord attorney in fact for Tenant irrevocably (such power of attorney being coupled with an interest) to execute, provided acknowledge and deliver any such instrument and instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment for and in the name of the Premises as set forth in Section 24 hereofTenant and to cause any such instrument to be recorded. Notwithstanding the foregoing, any such Holder holder may at any time subordinate its Mortgage mortgage to this Lease, without Tenant’s 's consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage mortgage and had been assigned to such Holderholder. The term “Mortgage” "mortgage" whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” "holder" of a Mortgage mortgage shall be deemed to include the beneficiary under a deed of trust.. * *(See Addendum One, Section IX)

Appears in 1 contract

Samples: Lease Agreement (Sterile Recoveries Inc)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien lien, mortgage or hypothec of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such MortgageMortgage and Tenant’s other rights hereunder shall not be affected. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon within 10 business days following demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be reasonably requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereofhereof and are otherwise reasonably acceptable to Tenant. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include hypothecs, deeds of trust, security assignments assignments, emphyteusis agreements or agreements creating a right of superficies, and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trusttrust or of a hypothec.

Appears in 1 contract

Samples: Lease Agreement (Upland Software, Inc.)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage Mortgage, now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver a Subordination, Non-disturbance and Attornment Agreement in the form attached hereto as Exhibit H, or such other instruments, confirming such subordination, subordination and such instruments of attornment as shall be reasonably requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage mortgage shall be deemed to include the beneficiary under a deed of trust. Landlord shall obtain a Subordination, Non-disturbance and Attornment Agreement, substantially in the form of Exhibit H, from Landlord’s existing lender within 90 days of the Commencement Date.

Appears in 1 contract

Samples: Lease Agreement (Xcyte Therapies Inc)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon written demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust. As of the date of this Lease, there is no existing Mortgage encumbering the Project. The subordination of this Lease to a future Mortgage shall be conditioned upon the Holder of any such future Mortgage entering into a subordination, non-disturbance and attornment agreement (“SNDA”) with Tenant with respect to this Lease. The SNDA shall be on the form proscribed by the Holder and, to the extent that the execution of an SNDA is done pursuant to this paragraph (as opposed to a requirement of the Holder), then Tenant shall pay the Holder’s fees and costs in connection with obtaining such SNDA; provided, however, that Landlord shall request that Holder make any reasonable changes to the SNDA requested by Tenant.

Appears in 1 contract

Samples: Lease Agreement (Beam Therapeutics Inc.)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such reasonable instruments, confirming such subordination, and such reasonable instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust.

Appears in 1 contract

Samples: Lease Agreement (OvaScience, Inc.)

Subordination. This The rights and interests of Tenant under this Lease and Tenant’s interest in and rights hereunder are hereby made and to the Premises shall be subject and subordinate at to first deeds of trust, mortgages, master leases and other security instruments and to all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments replacements and extensions thereofthereof heretofore or hereafter executed covering the Premises, without the necessity Building and the Land or any parts thereof (the "Security Documents"), to the same extent as if the Security Documents had been executed, delivered and recorded prior to the execution of this Lease. After the delivery to Tenant of a notice from Landlord that it has entered into one or more Security Documents, then during the term of such Security Documents Tenant shall deliver to the holder or holders of all Security Documents a copy of all notices to Landlord and shall grant to such holder or holders the right to cure all defaults, if any, of Landlord hereunder within the same time period provided in this Lease for curing such defaults by Landlord and, except with the prior written consent of the holder of the Security Documents, shall not (i) amend this Lease in any material respect; (ii) surrender or terminate this Lease except pursuant to a right to terminate expressly set forth in this Lease, or (iii) pay any Rent more than one month in advance or pay any Rent or other amounts payable hereunder other than in strict accordance with the terms hereof. The provisions of this subsection shall be self-operative and shall not require further instrument or act on the part of agreement by Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agreeshowever, at the election request of Landlord, Tenant shall execute such further documents as may be required to evidence and set forth for the benefit of the Holder holder of any such MortgageSecurity Documents the obligations of Tenant hereunder. At any time and from time to time upon not less than ten (10) days' prior notice by Landlord, to attorn to any such Holder. Tenant agrees upon demand to shall execute, acknowledge and deliver such instrumentsto the Landlord a statement of the Tenant in writing certifying that this Lease is unmodified and in full force and effect (or if there have been modifications, confirming such subordinationthat the same is in full force and effect as modified and stating the modifications, if any), and stating whether or not to the best knowledge of Tenant the Landlord is in default in the keeping, observance or performance of any covenant, agreement, term, provision or condition contained in this Lease and, if so, specifying each such instruments default of attornment as shall which Tenant may have knowledge, it being intended that any such statement may be requested relied upon by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereofaddressee thereof. Notwithstanding the foregoing, as an express condition to any such Holder may at any time subordinate its Mortgage subordination by Tenant in accordance with the terms of this Paragraph 41, the mortgagee or beneficiary under Security Document shall agree in writing with Tenant that, in the event of a foreclosure sale or a deed in lieu of foreclosure (i) Tenant's rights under the Lease will be recognized, (ii) Tenant's possession of the Premises will not be disturbed and (iii) the successor to Landlord will assume and perform all obligations of Tenant under the Lease, provided no Act of Default has then occurred and is continuing under this Lease. Landlord represents and warrants to Tenant that, as of the date of execution of this Lease, without Tenant’s consentthere are no Security Documents affecting the Land, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery the Building or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trustPremises.

Appears in 1 contract

Samples: Lease Agreement (Telvent Git S A)

Subordination. This Lease and Tenant’s interest Interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of Of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates dales of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include Include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust. As of the date of this Lease, there is no existing Mortgage encumbering the Project.

Appears in 1 contract

Samples: Lease Agreement (Eloxx Pharmaceuticals, Inc.)

Subordination. This Lease and TenantXxxxxx’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, TenantXxxxxx’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant Xxxxxx agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant Xxxxxx agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust. As of the date of this Lease, there is no existing Mortgage encumbering the Project. If during the Term there is a Mortgage encumbering the Project, Xxxxxxxx agrees to use commercially reasonable efforts to cause the Holder of the then-current Mortgage to enter into a subordination, non-disturbance and attornment agreement ("SNDA") with Tenant with respect to this Lease. The SNDA shall be on a form prepared by the Holder; provided, however, that Landlord shall request that Holder make any changes to the SNDA requested by Xxxxxx. Xxxxxxxx's failure to cause the Holder to enter into the SNDA with Tenant (or make any of the changes requested by Tenant) shall not be a default by Landlord under this Lease.

Appears in 1 contract

Samples: Lease Agreement (Forma Therapeutics Holdings, Inc.)

Subordination. This Lease and Tenant’s 's interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage first mortgage, now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder holder of any such Mortgagemortgage, to attorn to any such Holderholder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, subordination and such instruments of attornment as shall be requested by any such Holderholder. Tenant hereby appoints Landlord attorney in fact for Tenant irrevocably (such power of attorney being coupled with an interest) to execute, provided acknowledge and deliver any such instrument and instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment for and in the name of the Premises as set forth in Section 24 hereofTenant and to cause any such instrument to be recorded. Notwithstanding the foregoing, any such Holder holder may at any time subordinate its Mortgage mortgage to this Lease, without Tenant’s 's consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage mortgage and had been assigned to such Holderholder. The term “Mortgage” "mortgage" whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” "holder" of a Mortgage mortgage shall be deemed to include the beneficiary under a deed of trust. Notwithstanding any provision to the contrary, this Lease shall not be subject to or subordinate to any ground or underlying lease or to any lien, mortgage, deed of trust, or security interest hereafter affecting the Premises, nor shall Tenant be required to execute any documents subordinating this Lease, unless the ground lessor, lender, or other holder of the interest to which this Lease would or shall be subordinated executes a recognition and nondisturbance agreement which (i) provides that this Lease shall not be terminated so long as Tenant is not in default under this Lease and (ii) recognizes all of Tenant's rights hereunder. Further, Tenant shall have no obligation to attorn to any successor-in-interest or ground lessor, nor to execute any documents evidencing attornment, unless the successor-in-interest or ground lessor in question assumes, in writing, all obligations of the Landlord under this Lease commencing as of the date of such successor Landlords succession. 28. MECHANIC'S LIENS. Tenant has no express or implied authority to create or place any lien or encumbrance of any kind upon, or in any manner to bind the interest of Landlord or Tenant in, the Premises or to charge the rentals payable hereunder for any claim in favor of any person dealing with Tenant, including those who may furnish materials or perform labor for any construction or repairs. Tenant covenants and agrees that it will pay or cause to be paid all sums legally due and payable by it on account of any labor performed or materials furnished in connection with any work performed on the Premises and that it will save and hold Landlord harmless from all loss, cost or expense based on or arising out of asserted claims or liens against the leasehold estate or against the interest of Landlord in the Premises or under this Lease. Tenant shall give Landlord immediate written notice of the placing of any lien or encumbrance against the Premises and cause such lien or encumbrance to be discharged within 30 days of the filing or recording thereof; provided, however, Tenant may contest such liens or encumbrances as long as such contest prevents foreclosure of the lien or encumbrance and Tenant causes such lien or encumbrance to be bonded or insured over in a manner satisfactory to Landlord within such 30 day period. 29.

Appears in 1 contract

Samples: Lease Agreement

Subordination. This The rights and interests of Tenant under this Lease and Tenant’s interest in and rights hereunder are hereby made and to the Premises shall be subject and subordinate at to all times easements and recorded restrictions, covenants, and agreements pertaining to the lien of Project, or any Mortgage now existing or hereafter created on or against the Project or the Premisespart thereof, and to all amendmentsdeeds of trust, restatementsmortgages, and other security instruments and to all renewals, modifications, consolidations, refinancing, assignments replacements and extensions thereofthereof (the “Security Documents”) heretofore or hereafter executed by Landlord covering the Premises, without the necessity Building or any part of the Project, to the same extent as if the Security Documents had been executed, delivered and recorded prior to the execution of this Lease. After Tenant’s receipt of a notice from Landlord that it has entered into one or more Security Documents, then, during the term of such Security Documents, Tenant shall deliver to the holder or holders of all Security Documents a copy of all notices to Landlord and shall grant to such holder or holders the right to cure all defaults, if any, of Landlord hereunder within the same time period provided in this Lease for curing such defaults by Landlord and, except with the prior written consent of the holder or holders of the Security Documents, shall not surrender or terminate this Lease except pursuant to a right to terminate expressly set forth in this Lease and shall attorn to any holder of any Security Documents or its successor in interest by foreclosure or otherwise. The provisions of this subsection shall be self-operative and shall not require further instrument or act on the part of agreement by Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agreeshowever, at the election request of Landlord, Tenant shall execute such further documents as may be required by the Holder holder of any such MortgageSecurity Documents. Upon Tenant’s reasonable request, Landlord agrees that it shall undertake commercially reasonably efforts to attorn obtain a subordination, non-disturbance and attornment agreement (“SNDA”) substantially similar to that attached hereto as “Exhibit E” from any such Holderand all existing holders of Security Documents. At any time and from time to time upon not less than ten (10) days’ prior notice by Landlord, Tenant agrees upon demand to shall execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment to the Landlord a written estoppel certificate certifying: (i) the Rentable Area of the Premises as set forth in Section 24 hereof. Notwithstanding Premises, (ii) the foregoing, any such Holder may at any time subordinate its Mortgage to Commencement Date and Expiration Date of this Lease, without Tenant’s consent(iii) the Base Rent, by notice in writing to TenantBase Rent Adjustment and expense stop, and thereupon (iv) that this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording is unmodified and in full force and effect, or if there have been modifications, that event such Holder shall have the same rights with respect to is in full force and effect as modified and stating the modifications, (v) whether or not the Landlord is in default in the keeping, observance or performance of any covenant, agreement, term, provision or condition of this Lease as though this and, if so, specifying each such default, (vi) that Tenant has unconditionally accepted and occupied the Premises, (vii) that all requirements of the Lease had have been executed prior to the executioncomplied with and no charges, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used set-offs or other credits exist against any rentals, (viii) that Tenant has not assigned, pledged, sublet, or otherwise transferred any interest in this Lease shall Lease; and (ix) such other matters as Landlord may reasonably request, it being intended that any such statement may be deemed to include deeds relied upon by any prospective purchaser, mortgagee or assignee of trust, security assignments and any other encumbrances, and any reference to mortgage of the “Holder” Building or the Project or of a Mortgage shall be deemed to include the beneficiary under a deed of trustLandlord’s interest therein.

Appears in 1 contract

Samples: Lease Agreement (Us Dataworks Inc)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments assignments, ground leases or other superior leases and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust. As of the date of this Lease, there is no existing Mortgage encumbering the Project.

Appears in 1 contract

Samples: Lease Agreement (Codiak BioSciences, Inc.)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right rights set forth in this Lease including its rights to possession of use, occupy and possess the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other Exhibit 10.10 3215 Merrxxxxxx/Xxxtex - Page 27 encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust. As of the date of this Lease, there is no existing Mortgage encumbering the Project.

Appears in 1 contract

Samples: Lease Agreement (Vertex Pharmaceuticals Inc / Ma)

Subordination. This Lease and Tenant’s 's interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder holder of any such Mortgagemortgage, to attorn to any such Holderholder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, instruments confirming such subordination, and such instruments of subordination and/or attornment as shall be requested by any such Holderholder. #4262661_v3 24. Surrender. Upon the expiration of the Term or earlier termination of Tenant's right of possession, provided Tenant shall surrender the Premises to Landlord in the same condition as received, free of Hazardous Materials brought upon, kept, used, stored, handled, treated, generated in, or released or disposed of from, the Premises by any person other than a Landlord Party (collectively. “Tenant HazMat Operations”) and released of all Hazardous Materials Clearances, broom clean, ordinary wear and tear and casualty loss and condemnation covered by Section 15 excepted. At least 2 months prior to the surrender of the Premises, Tenant shall deliver to Landlord a narrative description of the actions proposed (or required by any governmental authority) to be taken by Tenant in order to surrender the Premises at the expiration or earlier termination of the Term, free from any residual impact from the Tenant HazMat Operations and otherwise released for unrestricted use and occupancy (the “Surrender Plan”). Such Surrender Plan shall be accompanied by a listing of (i) all Hazardous Materials licenses and permits held by or on behalf of any Tenant Party with respect to the Premises, and (ii) all Hazardous Materials used, stored, handled, treated, generated, released or disposed of from the Premises, and shall be subject to the review and approval of Landlord's environmental consultant. In connection with the review and approval of the Surrender Plan, upon the request of Landlord, Tenant shall deliver to Landlord or its consultant such instruments contain appropriate additional non-disturbance provisions assuring proprietary information concerning Tenant HazMat Operations as Landlord shall request. On or before such surrender, Tenant shall deliver to Landlord evidence that the approved Surrender Plan shall have been satisfactorily completed and Landlord shall have the right, subject to reimbursement at Tenant's expense as set forth below, to cause Landlord’s quiet enjoyment environmental consultant to inspect the Premises and perform such additional procedures as may be deemed reasonably necessary to confirm that the Premises are, as of the effective date of such surrender or early termination of the Lease, free from any residual impact from Tenant HazMat Operations. Tenant shall reimburse Landlord, as Additional Rent, for the actual out-of pocket expense incurred by Landlord for Landlord’s environmental consultant to review and approve the Surrender Plan and to visit the Premises and verify satisfactory completion of the same, which cost shall not exceed $1,500. Landlord shall have the unrestricted right to deliver such Surrender Plan and any report by Landlord's environmental consultant with respect to the surrender of the Premises to third parties. If Tenant shall fail to prepare or submit a Surrender Plan approved by Landlord, or if Tenant shall fail to complete the approved Surrender Plan, or if such Surrender Plan, whether or not approved by Landlord, shall fail to adequately address any residual effect of Tenant HazMat Operations in, on or about the Premises, Landlord shall have the right to take such actions as Landlord may deem reasonable or appropriate to assure that the Premises and the Project are surrendered free from any residual impact from Tenant HazMat Operations, the cost of which actions shall be reimbursed by Tenant as Additional Rent, without regard to the limitation set forth in the first paragraph of this Section 24 hereof24. Notwithstanding Tenant shall immediately return to Landlord all keys and/or access cards to parking, the foregoingProject, restrooms or all or any portion of the Premises furnished to or otherwise procured by Tenant. If any such Holder may access card or key is lost, Tenant shall pay to Landlord, at any time subordinate its Mortgage to this LeaseLandlord's election, without either the cost of replacing such lost access card or key or the cost of reprogramming the access security system in which such access card was used or changing the lock or locks opened by such lost key. Any Tenant’s consent, property not so removed by notice in writing to Tenant, and thereupon this Lease Tenant as permitted or required herein shall be deemed prior to abandoned and may be stored, removed, and disposed of by Landlord at Tenant's expense, and Tenant waives all claims against Landlord for any damages resulting from Landlord's retention and/or disposition of such Mortgage property. All obligations of Tenant hereunder not fully performed as of the termination of the Term, including the obligations of Tenant under Section 26 hereof, shall survive the expiration or earlier termination of the Term, including, without regard to their respective dates of executionlimitation, delivery or recording and in that event such Holder shall have the same rights indemnity obligations, payment obligations with respect to this Lease as though this Lease had been executed prior to Rent and obligations concerning the executioncondition and repair of the Premises. #4262661_v3 25. Waiver of Jury Trial. TO THE EXTENT PERMITTED BY LAW, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trustTENANT AND LANDLORD WAIVE ANY RIGHT TO TRIAL BY JURY OR TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE, security assignments and any other encumbrancesWHETHER SOUNDING IN CONTRACT, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trustTORT, OR OTHERWISE, BETWEEN LANDLORD AND TENANT ARISING OUT OF THIS LEASE OR ANY OTHER INSTRUMENT, DOCUMENT, OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS RELATED HERETO.

Appears in 1 contract

Samples: Lease Agreement (Forbes Medi-Tech Inc.)

Subordination. This Lease and Tenant’s 's interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, provided however that so long as there is no Default hereunder, Tenant’s 's right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s 's quiet enjoyment of the Premises as set forth in this Section 27 and Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s 's consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term "Mortgage" whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the "Holder" of a Mortgage shall be deemed to include the beneficiary under a deed of trust.

Appears in 1 contract

Samples: Lease Agreement (BioCardia, Inc.)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatementsrestatement, renewalss renewal, s modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be reasonably requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments assignments, Net Multi-Tenant Laboratory 000 Xxxxxxxxxx Xxxxxx/Xxxx Xxxxx - Page 29 ground leases or other superior leases and any other encumbrancesencumbrance, and sand any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust. Landlord agrees to use reasonable efforts to cause the Holder of the current Mortgage and, upon the written request of Tenant, any future Holder of a Mortgage to enter into a subordination, non-disturbance and attornment agreement (“SNDA”) with Tenant with respect to this Lease. The SNDA shall be on the form proscribed by the Holder and Tenant shall pay the Holder’s fees and costs in connection with obtaining such SNDA; provided, however, that Landlord shall request that Holder make any changes to the SNDA requested by Tenant. Landlord’s failure to cause the Holder to enter into the SNDA with Tenant (or make any of the changes requested by Tenant) shall not be a default by Landlord under this Lease.

Appears in 1 contract

Samples: Sublease Agreement (Revolution Medicines, Inc.)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, within 10 business days’ written notice from Landlord, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon written demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided that any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust.

Appears in 1 contract

Samples: Lease Agreement (Arcturus Therapeutics Ltd.)

Subordination. This Lease and Tenant’s 's interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage first mortgage, now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder holder of any such Mortgagemortgage, to attorn to any such Holderholder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, subordination and such instruments of attornment as shall be requested by any such Holderholder. Notwithstanding anything herein to the contrary, provided Tenant shall not be required to subordinate to any future mortgage or attorn to any mortgage holder unless such instruments contain appropriate non-disturbance provisions assuring mortgage holder shall grant to Tenant a commercially reasonable nondisturbance agreement on terms reasonably acceptable to Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. In addition, Tenant shall not be required to execute any instrument which materially increases Tenant's obligations or decreases Tenant's rights under this Lease. Notwithstanding the foregoing, any such Holder holder may at any time subordinate its Mortgage mortgage to this Lease, without Tenant’s 's consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage mortgage and had been assigned to such Holderholder. The term “Mortgage” "mortgage" whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” "holder" of a Mortgage mortgage shall be deemed to include the beneficiary under a deed of trust. Promptly after execution hereof, Landlord shall use reasonable efforts to obtain for Tenant's benefit a Subordination, Non-Disturbance and Attornment Agreement in form reasonably acceptable to Tenant.

Appears in 1 contract

Samples: Lease Agreement (Homegrocer Com Inc)

Subordination. As of the Commencement Date, no Mortgage encumbers the Project. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or any portion that includes the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunderunder any of the terms covenants, conditions, or agreements of this Lease, this Lease and all of the terms, provisions, and conditions of this Lease, shall remain in full force and effect, and neither this Lease, nor Tenant’s right to rights hereunder nor Tenant’s possession of the Premises shall not will be disturbed during the Term by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such reasonable instruments, confirming such subordination, and such reasonable instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring stating that so long as Tenant is not in Default under any of the terms, covenants, conditions, or agreements of this Lease, this Lease and all of the terms, provisions, and conditions of this Lease, shall remain in full force and effect, and neither this Lease, nor Tenant’s quiet enjoyment rights hereunder nor Tenant’s possession of the Premises as set forth in Section 24 hereofwill be disturbed during the Term. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been 21001083-v13 0000 Xxxxxxx Xxxxxx Xxxxx—REGENXBIO INC.—Page 35 executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. Landlord shall use its commercially reasonable efforts (but with no obligation to pay any out-of-pocket fees or charged imposed by the Holder unless Tenant agrees to pay them) to obtain from any Holder of a first lien Mortgage at any time during the Term covering any or all of the Project or the Premises a non-disturbance agreement on Holder’s standard form (which form shall be conformed only to the extent necessary to comply with the requirements of this Section 27) in favor of Tenant stating that so long as Tenant is not in Default under any of the terms, covenants, conditions, or agreements of this Lease, this Lease and all of the terms, provisions, and conditions of this Lease, shall remain in full force and effect, and neither this Lease, nor Tenant’s rights hereunder nor Tenant’s possession of the Premises will be disturbed during the Term and recognizing Tenant’s rights to any concessions (such as the Base Rent Abatement and/or leasehold improvement allowances) to which Tenant is entitled to under this Lease. The term “Mortgage” whenever used in this Lease shall be deemed to include any ground or underlying leases, mortgages, deeds of trust, security assignments assignments, and any other liens or encumbrances, entered into or granted by Landlord (or its predecessor-in-interest) and that encumber any portion of the Project that includes the Premises, and any reference to the “Holder” of a Mortgage shall be deemed to include the lessor under any such ground or underlying lease, the mortgagee under any such mortgage, the beneficiary under a any such deed of trusttrust or any other lien or encumbrance, and the secured party under any such security assignment.

Appears in 1 contract

Samples: Lease Agreement (REGENXBIO Inc.)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand agrees, within 10 business days after written demand, to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust. As of the date of this Lease, there is no existing Mortgage encumbering the Project.

Appears in 1 contract

Samples: Lease Agreement (Vaxcyte, Inc.)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage first mortgage, now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however provided however, that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder holder of any such Mortgagefirst mortgage shall not disturb the tenancy of Tenant, provided that Tenant is not in default under this Lease. Tenant agrees, at the election of the Holder holder of any such Mortgagemortgage, to attorn to any such Holderholder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and provided such subordination agreement shall contain an agreement of non-disturbance by the mortgagee with respect to Tenant, provided that Tenant is not in default under this Lease, end such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring holder and are agreeable to Landlord and Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder holder may at any time subordinate its Mortgage mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage mortgage and had been assigned to such Holderholder. The term “Mortgagemortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holderholder” of a Mortgage mortgage shall be deemed to include the beneficiary under a deed of trust.

Appears in 1 contract

Samples: Lease Agreement (Sanfilippo John B & Son Inc)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be is subject and subordinate at all times to the lien ground and underlying leases, mortgages and deeds of any Mortgage trust (collectively "Encumbrances") which may now existing or hereafter created on or against the Project or affect the Premises, the Building, or the Project, and to all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments replacements and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunderhowever, Tenant’s right to possession of if the Premises shall not be disturbed by the Holder holder or holders ("Holder") of any such MortgageEncumbrances shall require this Lease to be prior and superior thereto, within ten (10) days after written request from Landlord, Tenant shall execute, have acknowledged and deliver any and all documents or instruments, in the from presented to Tenant, which Landlord or Holder deems necessary and desirable for such purposes. Tenant agreesLandlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all Encumbrances which are now or may hereafter be executed covering the Premises, at the election Building, or the Project, or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder, together with interest thereon and subject to all the Holder terms and provisions thereof; provided only, that in the event of termination of any such Mortgagelease or upon the foreclosure of any such mortgage or deed of trust, Xxxxxx agrees to attorn recognize Xxxxxx's rights under this Lease as long as Tenant is not then in default and continues to pay the Rent and observe and perform all the provisions of this Lease. Within ten (10) days after Xxxxxxxx's written request, Tenant shall execute any and all the documents required by Landlord or the Holder to make this Lease subordinate to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment lien of the Premises as set forth in Section 24 hereofEncumbrances. Notwithstanding the foregoingIf Tenant fails to do so, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease it shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trustis so subordinated.

Appears in 1 contract

Samples: Termination Agreement (Utstarcom Inc)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be reasonably requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. If Tenant fails to execute, acknowledge and deliver any such instrument within a reasonable time after requested by Landlord, Tenant hereby appoints Landlord attorney-in-fact for Tenant irrevocably (such power of attorney being coupled with an interest) to execute, acknowledge and deliver any such instrument and instruments for and in the name of Tenant and to cause any such Instrument to be recorded. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust.

Appears in 1 contract

Samples: Lease Agreement (Pharmathene, Inc)

Subordination. This Lease and Tenant’s 's interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage first mortgage, now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder holder of any such Mortgagemortgage, to attorn to any such Holderholder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, subordination and such instruments of attornment as shall be requested by any such Holderholder. Notwithstanding the preceding provisions of this Paragraph 27, provided this Lease and Tenant's interest in the Premises shall not be subordinate to any future mortgage or deed of trust on the Project, and Tenant shall not be obligated to execute an instrument subordinating this Lease or Tenant's interest in the Premises to any future mortgage or deed of trust on the Project, unless concurrently with such instruments contain appropriate non-disturbance provisions assuring subordination the holder of such mortgage or deed of trust agrees in such instrument of subordination not to disturb Tenant’s quiet enjoyment 's possession of the Premises (so long as set forth no default exists under the Lease) in Section 24 hereofthe event such holder acquires title to the Premises through foreclosure, deed in lieu of foreclosure or otherwise. Notwithstanding the foregoing, any such Holder holder may at any time subordinate its Mortgage mortgage to this Lease, without Tenant’s 's consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage mortgage and had been assigned to such Holderholder. The term “Mortgage” "mortgage" whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust.and

Appears in 1 contract

Samples: Lease Agreement (1 800 Contacts Inc)

Subordination. This Landlord shall have the right to cause this Lease to be and Tenant’s interest and rights hereunder are hereby made and shall be remain subject and subordinate at to any and all times to the lien mortgages, deeds of trust and ground leases, if any Mortgage ("Encumbrances") that are now existing or may hereafter created on or against the Project or be executed covering the Premises, and all amendments, restatements, or any renewals, modifications, consolidations, refinancingreplacements or extensions thereof for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, assignments together with interest thereon and extensions thereofsubject to all the terms and provisions thereof provided only that, without in the necessity event of termination of any further instrument such ground lease or act on upon the part foreclosure of Tenant; providedany such mortgage or deed of trust, however that so long as there Tenant is no Default hereundernot in default, the holder thereof ("HOLDER") shall agree to recognize Tenant’s right 's rights under this Lease as long as Tenant shall pay the Rent and observe and perform all the provisions of this Lease to possession of the Premises be observed and performed by Tenant. Within ten (10) days after Landlord's written request, Tenant shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming any and all reasonable documents required by Landlord or the Holder to effectuate such subordination. If Tenant fails to do so, and such instruments of attornment as failure shall be requested constitute a Default by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of Tenant under this Lease. Notwithstanding anything to the Premises as contrary set forth in Section 24 hereof. Notwithstanding this Paragraph 31, Tenant hereby attorns and agrees to attorn to any person or entity purchasing or otherwise acquiring the foregoing, any such Holder may Premises at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery sale or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior other proceeding or pursuant to the execution, delivery and recording exercise of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrancesrights, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary powers or remedies under a deed of trustsuch Encumbrance.

Appears in 1 contract

Samples: Lease Agreement (Bridge Capital Holdings)

Subordination. This Lease and TenantTxxxxx’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project Project, Property, Building or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, TenantTxxxxx’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant Txxxxx agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant Txxxxx agrees upon demand to execute, acknowledge and deliver such reasonable instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments assignments, ground leases or other superior leases and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust.

Appears in 1 contract

Samples: Lease Agreement (Camp4 Therapeutics Corp)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made are. and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; : provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver a Subordination, Non-disturbance and Attomment Agreement in substantially the form attached hereto as Exhibit H, or such other instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust.

Appears in 1 contract

Samples: Lease Agreement (Iomai Corp)

Subordination. A. This Lease and Tenant’s interest and rights hereunder are hereby made is and shall be expressly subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the PremisesMortgage, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is . This subordination shall be self-operative and no Default hereunder, Tenant’s right to possession further certificate or instrument of the Premises shall not subordination need be disturbed required by the Holder any Mortgagee. In confirmation of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holderhowever, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment upon the written request of the holder (the "Mortgagee") of any mortgage now or hereafter encumbering the Land or Building, including the Leased Premises as set forth in Section 24 hereofand Appurtenances or any part thereof, Tenant shall, within 15 days of Tenant's receipt thereof, execute any reasonable certificate or instrument that Landlord or Mortgagee may request confirming subordination of Tenant's rights under this Lease to the lien of such mortgage ("Mortgage"). Notwithstanding the foregoing, any such Holder may if at any time the Mortgagee elects to have this Lease or Tenant's rights hereunder superior to its Mortgage, then such Mortgagee may subordinate its Mortgage to this Lease, Lease without Tenant’s consent, 's consent by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording recording, and in that event such Holder Mortgagee shall have the same rights with respect to this Lease as though the Lease had been executed prior to the execution, delivery or recording, and in that event such Mortgagee shall have the same rights with respect to this Lease as though the Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference Mortgagee (subject to the “Holder” provisions of a Mortgage shall be deemed to include the beneficiary under a deed of trustSection 16.1 hereof).

Appears in 1 contract

Samples: Lease Agreement (D & K Healthcare Resources Inc)

Subordination. This Lease and Tenant’s 's interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s 's right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver a Subordination, Non-disturbance and Attornment Agreement in substantially the form attached hereto as EXHIBIT H, or such other instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s 's quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s 's consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” "MORTGAGE" whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” "HOLDER" of a Mortgage shall be deemed to include the beneficiary under a deed of trust.. CONFIDENTIAL - DO NOT COPY

Appears in 1 contract

Samples: Lease Agreement (Acusphere Inc)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be reasonably requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust. As of the date of this Lease, there is no existing Mortgage with a lien upon the Project. Upon written request from Tenant, Landlord shall obtain, at no cost to Tenant, for execution by Tenant a commercially reasonable form of non-disturbance and attornment agreement executed by the Holder of any future Mortgage with a lien on the Project which provides, among other things, that so long as Tenant is not in Default of its obligations under this Lease, foreclosure or other enforcement of such Mortgage shall not terminate this Lease and the successor to Landlord’s interest in the Project shall recognize this Lease and Tenant’s right to possession of the Premises. If the Holder is an institutional lender, Tenant agrees that a non-disturbance and attornment agreement on the form customarily used by such Holder shall be deemed acceptable to Tenant if it provides that so long as Tenant is not in Default of its obligations under this Lease, foreclosure or other enforcement of such Mortgage shall not terminate this Lease and the successor to Landlord’s interest in the Project shall recognize this Lease and Tenant’s right to possession of the Premises.

Appears in 1 contract

Samples: Lease Agreement (Biolex, Inc.)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, Net Multi-Tenant Laboratory 000 Xxxx Xxxxxx/Alpine Immune Sciences - Page 23 and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust. Landlord agrees to use reasonable efforts to cause the Holder of any future Mortgage to enter into a subordination, non-disturbance and attornment agreement ("SNDA") with Tenant with respect to this Lease. The SNDA shall be on the form proscribed by the Holder and Tenant shall pay the Holder's fees and costs in connection with obtaining such SNDA; provided, however, that Landlord shall request that Holder make any changes to the SNDA requested by Tenant. Landlord's failure to cause the Holder to enter into the SNDA with Tenant (or make any of the changes requested by Tenant) shall not be a default by Landlord under this Lease.

Appears in 1 contract

Samples: Lease Agreement (Alpine Immune Sciences, Inc.)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s rights under this Lease, including its right to possession of the Premises Premises, shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. As of the Commencement Date, the Project is not subject to the lien of any Mortgage. On Tenant’s written request, Landlord shall use its commercially reasonable efforts (but with no obligation to pay any out-of-pocket fees or sums) to obtain from any Holder of a first lien Mortgage at any time hereafter during the Term covering any or all of the Project or the Premises a non-disturbance agreement on Holder’s standard form in favor of Tenant assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust.

Appears in 1 contract

Samples: Lease Agreement (Bioveris Corp)

Subordination. This Lease and Tenant’s 's interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage Mortgage, now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however however, that so long as there is no Default hereunder, Tenant’s 's right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver a Subordination, Non-disturbance and Attornment Agreement in the form attached hereto as Exhibit H, or such other instruments, confirming such subordination, subordination and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-non- disturbance provisions assuring Tenant’s 's quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s 's consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term "Mortgage" whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the "Holder" of a Mortgage mortgage shall be deemed to include the beneficiary under a deed of trust.

Appears in 1 contract

Samples: 34 Lease Agreement (Equinix Inc)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be Security Agreement is subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, terms and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as conditions set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, Indenture and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates that certain Indenture Subordination Agreement dated as of execution, delivery or recording and in that event such Holder shall have even date hereof (as the same rights with respect may be amended, restated or otherwise modified from time to this Lease time, the “Indenture Subordination Agreement”) delivered in favor of AgStar pursuant to that AgStar Credit Facility and ancillary loan documents delivered by the Debtor to AgStar in connection therewith (as though this Lease had been executed prior the same may be amended, restated or otherwise modified from time to time, the execution, delivery “Senior Loan Documents”) and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease nothing herein shall be deemed to include deeds enlarge, modify or diminish the representations, warranties, covenants and obligations of trustthe parties thereunder. In the event of any inconsistency between the terms of the Indenture Subordination Agreement and the terms of this Security Agreement, security assignments the terms of the Indenture Subordination Agreement shall govern. By virtue of the acceptance hereof, the Collateral Agent and any other encumbrances, and any reference to each of the “Holder” of a Mortgage Holders shall be deemed to include have agreed that, on and after the beneficiary under a deed date hereof, they shall take such additional actions, and execute such additional documents and instruments, as may be reasonably requested by Debtor or AgStar in order to effectuate the provisions of trustthis Security Agreement, the Indenture and the Indenture Subordination Agreement. Without limiting the generality of the foregoing, the Collateral Agent agrees, and by virtue of the acceptance hereof the Holders be deemed to have agreed, to execute and deliver such documents, instruments and agreements as may be necessary to document or confirm, and further document or confirm, the subordination of the Obligations and the Liens (as defined in the Indenture) that secure any of the Obligations, including the Security Interest granted by this Security Agreement, to any Senior Debt (as defined in the Indenture), including any Replacement Senior Debt (as defined in the Indenture), and to the rights of any holder thereof.

Appears in 1 contract

Samples: Subordination Agreement (Heron Lake BioEnergy, LLC)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises and rights under this Lease shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust. As of the date of this Lease, there is no existing Mortgage encumbering the Project. Upon written request from Tenant, Landlord agrees to use reasonable efforts to cause the Holder of any future Mortgage to enter into a subordination, non-disturbance and attornment agreement (“SNDA”) with Tenant with respect to this Lease. The SNDA shall be on the form reasonably proscribed by the Holder and Tenant shall pay the Holder’s fees and costs in connection with obtaining such SNDA; provided, however, that Landlord shall request that Holder make any changes to the SNDA requested by Tenant. Landlord’s failure to cause the Holder to enter into the SNDA with Tenant (or make any of the changes requested by Tenant) despite such efforts shall not be a default by Landlord under this Lease.

Appears in 1 contract

Samples: Lease Agreement (Codexis, Inc.)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project Project, Property, Building or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon within 10 days after receipt of written demand to execute, acknowledge and deliver such commercially reasonable instruments, confirming such subordination, and such commercially reasonable instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments assignments, ground leases or other superior leases and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust.. Multi-Tenant Laboratory 1400 OKS – Suite 14-402/InVivo – Page 29

Appears in 1 contract

Samples: Lease Agreement (Invivo Therapeutics Holdings Corp.)

Subordination. Lessor shall have the absolute right to sell, transfer, assign and encumber its interest in this Lease and its estate in the Leased Premises, the Building, or any part thereof, and to delegate all or any portion of its obligations hereunder, from time to time as it sees fit, without obtaining any approval from Lessee. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to any encumbrance and to any extensions or renewals thereof which are now, or may hereafter be placed by Lessor, upon the whole or any part of the Building and which includes the Leased Premises. From time to time the Lessee shall execute and deliver any instrument (including but not limited to subordination, attornment, estoppel, etc.) which may be reasonably required by the Lessor in confirmation of such subordination promptly upon the Lessor's request, and without expense to the lien Lessor; and if the Lessee shall fail at any time to execute and deliver any such subordination, the Lessor, in addition to any other remedy available to it in consequence thereof, may execute and deliver any such instrument as the attorney- in-fact of any Mortgage now existing or hereafter created on or against the Project or the PremisesLessee, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on Lessee hereby appoints the part of TenantLessor as attorney-in-fact for such purpose; provided, however however, that any such subordination instrument shall provide that so long as there the Lessee is no Default hereundernot in default in the payment of rent or in the performance of any of the covenants, Tenant’s right to terms and conditions of the Lease, Lessee's possession of the Leased Premises and the Lessee's rights and privileges under the Lease or any renewal thereof shall not be disturbed diminished or interfered with by the Holder of any secured party under such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trustencumbrance.

Appears in 1 contract

Samples: Lease Agreement (Bio Imaging Technologies Inc)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject subordinate to any reciprocal easement agreements, ground leases or underlying leases and subordinate at all times to the lien of any Mortgage mortgage or deed of trust (collectively, "Encumbrance"), which may now existing exist or hereafter created on be executed affecting any of the Building, the real property upon which the Building is located or against the Project or the Premises, Authority's interest therein and all amendmentsrenewals, restatements, renewalsextensions, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity replacements of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereofEncumbrance. Notwithstanding the foregoing, Authority shall have the right to subordinate any such Holder may at any time subordinate its Mortgage Encumbrances to this Lease. If any ground lease or underlying lease terminates for any reason or any mortgage or deed of trust is foreclosed or a conveyance in lieu of foreclosure is made for any reason, without Tenant’s consentTenant shall attorn to the successor-in-interest to Authority, by provided that so long as Tenant is not in default hereunder beyond any cure, grace or notice in writing to Tenantperiod, and thereupon such successor-in-interest shall recognize this Lease and shall not disturb Tenant in its possession of the Premises for any reason other than one that would entitle Authority to terminate this Lease or otherwise dispossess Tenant of the Premises in accordance with the terms hereof. No further instrument shall be deemed prior required to make the provisions hereof operative except that Authority shall give Tenant written notice of such Mortgage without regard subordination. Tenant agrees, however, to their respective dates of executionexecute and deliver, delivery or recording upon demand by Authority and in that event such Holder shall have the same rights with respect to form reasonably requested by Authority, any additional documents evidencing the priority or subordination of this Lease as though this Lease had been provided such documents contain a non-disturbance and recognition agreement executed prior to by the execution, delivery and recording holder of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trustEncumbrance.

Appears in 1 contract

Samples: tellusventure.com

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default Net Multi-Tenant Laboratory 201 Xxxxxxx – Suite 210/Graphite - Page 24 hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust. As of the date of this Lease, there is no existing Mortgage encumbering the Project.

Appears in 1 contract

Samples: Lease Agreement (Graphite Bio, Inc.)

Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereofhereof and deliver any such instrument within 10 business days following Landlord’s request. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include ground leases, deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the ground lessor under a ground lease, the beneficiary under a deed of trust, and any other secured party under an encumbrance secured by a security interest in Landlord’s interest in the Project or Premises. Tenant acknowledges that the Holder of the current Mortgage is not required to and has no obligation to provide an SNDA in connection with this Lease. Notwithstanding the foregoing, Landlord agrees, at Landlord’s cost and expense, to use reasonable efforts to cause the Holder of the current Mortgage to enter into a subordination, non-disturbance and attornment agreement (“SNDA”) with Tenant with respect to this Lease. The SNDA shall be on the form proscribed by the Holder, which Tenant acknowledges that Tenant has reviewed and approved. Landlord’s failure to cause the Holder to enter into the SNDA with Tenant (or make any of the changes requested by Tenant) shall not be a default by Landlord under this Lease.

Appears in 1 contract

Samples: Lease Agreement (Elan Corp PLC)

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