TENANT’S AGREEMENTS. Tenant hereby represents, warrants, covenants and agrees that: (i) Tenant shall not pay any rent under the Lease more than one month in advance of the date due except as expressly required in the Lease with respect to security deposits, operating expenses, taxes and the like; (ii) Tenant shall have no right to appear in any Foreclosure action under the Security Instrument (unless named by Agent in such action, Agent agreeing however not to name Tenant unless required pursuant to applicable laws, and then only for such purposes); (iii) Tenant shall not amend or modify, or assign or sublet, the Lease and Tenant shall have no right to cancel or terminate the Lease, without Agent’s prior written consent (provided that, (x) as it relates to any assignments/subletting of Lease undertaken in connection with the terms and provisions set forth in the Lease, Agent shall have the same approval rights as the Landlord has with respect to same and (y) no such approval shall be required with respect to amendments solely evidencing the exercise of Tenant’s option to extend the Lease and assignments or sublets that do not require the consent of the Landlord pursuant to the terms of the Lease), and any attempted amendment or modification, assignment or subletting, cancellation or termination of the Lease in violation of the foregoing shall be of no force or effect as to Agent; (iv) Tenant shall not subordinate the Lease to any lien or encumbrance (other than the Security Instrument) without Agent’s prior written consent; (v) except as expressly set forth in Section 6, above, Tenant has no right or option of any nature whatsoever, whether pursuant to the Lease or otherwise, to purchase the Property, or any portion thereof or any interest therein, and to the extent that Tenant hereafter acquires any such additional rights or options, the same is hereby acknowledged to be subject and subordinate to the Security Instrument and is hereby waived and released as against Agent and any Successor, (vi) Tenant shall promptly, to the same extent and within the same time period required by the Lease, deliver to Agent, from time to time, a written estoppel statement in the form, and with the certifications, required by the Lease; (vii) this Agreement supersedes and satisfies any requirement in the Lease relating to the granting of a non-disturbance agreement or providing for subordination of the Lease; (viii) Tenant is the sole owner of the leasehold estate created by the Lease; (ix) the interest of Landlord under the Lease is assigned to Agent solely as security for the obligations secured by the Security Instrument, and neither Agent nor the Lenders shall have any duty, liability or obligation under the Lease or any extension or renewal thereof, unless Agent either (a) specifically undertakes such liability in writing, or (b) subject to the express terms of this Agreement, Agent becomes a Successor; (x) if this Agreement conflicts with the Lease, then this Agreement shall govern as between the parties and any Successor, including upon any attornment pursuant to this Agreement; and (xi) upon Agent’s transfer or assignment of Agent’s interests in the Loan, the Lease (or any new lease executed pursuant to this Agreement), or the Property, Agent shall be deemed released and relieved of any obligations under this Agreement, the Lease (or any new lease executed pursuant to this Agreement), and with respect to the Property.
Appears in 3 contracts
Samples: Lease Agreement (Ionis Pharmaceuticals Inc), Lease Agreement (Ionis Pharmaceuticals Inc), Purchase and Sale Agreement (Ionis Pharmaceuticals Inc)
TENANT’S AGREEMENTS. The Tenant hereby represents, warrants, covenants and agrees that: (i) the Tenant shall not pay any rent or additional rent under the Lease more than one month in advance of the date due except as expressly required in the Lease with respect to security deposits, operating expenses, taxes and the likeadvance; (ii) the Tenant shall have no right to appear in any Foreclosure foreclosure action under the Security Instrument (Mortgage unless named it is made a party to such action by Agent in such action, Agent agreeing however not to name Tenant unless required pursuant to applicable laws, and then only for such purposes)some third party; (iii) the Tenant shall not amend or amend, modify, or assign or sublet, the Lease and Tenant shall have no right to cancel or terminate the Lease, without Agent’s prior written consent (provided thatother than pursuant to rights, (x) as it relates to any assignments/subletting of Lease undertaken in connection with the terms and provisions set forth options or elections expressly contained in the Lease, Agent shall have without the same approval rights as the Landlord has with respect to same and (y) no such approval shall Mortgagee’s prior express written consent, which consent will not be required with respect to amendments solely evidencing the exercise of Tenant’s option to extend the Lease and assignments or sublets that do not require the consent of the Landlord pursuant to the terms of the Lease)unreasonably withheld, and any attempted amendment or amendment, modification, assignment or subletting, cancellation or termination of the Lease in violation of the foregoing without such consent shall be of no force or effect as to Agentthe Mortgagee; (iv) the Tenant shall not voluntarily subordinate the Lease to any lien or encumbrance (other than the Security InstrumentMortgage) without Agentthe Mortgagee’s prior express written consent, which consent will not be unreasonably withheld; (v) the Tenant shall not cancel or terminate the Lease (except as expressly set forth in Section 6permitted thereunder) without the Mortgagee’s prior express written consent, abovewhich consent will not be unreasonably withheld, and any attempted cancellation or termination of the Lease without such consent shall be of no force or effect to the Mortgagee; (vi) the Tenant has no right or option of any nature whatsoever, whether pursuant to shall not assign the Lease or otherwise, to purchase the Property, sublet all or any portion thereof or any interest therein, and to of the extent that Tenant hereafter acquires any such additional rights or options, the same is hereby acknowledged to be subject and subordinate to the Security Instrument and is hereby waived and released Leased Premises (except as against Agent and any Successor, (vi) Tenant shall promptly, to the same extent and within the same time period required permitted by the Lease, deliver to Agent, from time to time, a written estoppel statement in the form, and with the certifications, required by terms of the Lease) without the Mortgagee’s prior express written consent, which consent will not be unreasonably withheld; (vii) this Tenant Subordination, Non-Disturbance and Attornment Agreement supersedes and satisfies any requirement in the Lease relating to the granting of a non-disturbance agreement or providing for subordination of the Leaseagreement; and (viii) the Tenant is shall deliver to the sole owner Mortgagee, from time to time and within fifteen (15) days from the date of request, a written statement in form and substance reasonably satisfactory to the leasehold estate created by Mortgagee certifying to certain matters relating to the Lease; (ix) the interest of Landlord under the Lease is assigned to Agent solely as security for the obligations secured by the Security Instrument, and neither Agent nor the Lenders shall have any duty, liability or obligation under the Lease or any extension or renewal thereof, unless Agent either (a) specifically undertakes such liability in writing, or (b) subject to the express terms of this Agreement, Agent becomes a Successor; (x) if this Agreement conflicts with the Lease, then this Agreement shall govern as between the parties and any Successor, including upon any attornment pursuant to this Agreement; and (xi) upon Agent’s transfer or assignment of Agent’s interests in the Loan, the Lease (or any new lease executed pursuant to this Agreement), or the Property, Agent shall be deemed released and relieved of any obligations under this Agreement, the Lease (or any new lease executed pursuant to this Agreement), and with respect to the Property.
Appears in 1 contract
TENANT’S AGREEMENTS. Tenant hereby represents, warrants, covenants and agrees that: (i) Tenant shall not pay any rent under the Lease more than one month in advance of the date due except as expressly required in the Lease with respect to security deposits, operating expenses, taxes and the like; (ii) Tenant shall have no right to appear in any Foreclosure foreclosure action under the Security Instrument (unless named by Agent Lender in such action, Agent Lender agreeing however not to name Tenant unless required pursuant to applicable laws, and then only for such purposes); (iii) Tenant shall not amend or modifymodify the Lease, or assign or sublet, the Lease and Tenant shall have no right to cancel or terminate the Lease, without Agent’s Lender's prior written consent (provided that, (x) as it relates to any assignments/subletting of Lease undertaken in connection with the terms and provisions set forth in the Lease, Agent shall have the same approval rights as the Landlord has with respect to same and (y) no such approval shall be required with respect to amendments solely evidencing the exercise of Tenant’s option to extend the Lease and assignments or sublets that do not require the consent of the Landlord pursuant to the terms of the Lease)consent, and any attempted amendment or amendment, modification, assignment or subletting, cancellation or termination of the Lease in violation of the foregoing shall be of no force or effect as to AgentLender except that Lender or any Successor agrees to be bound by and subject to any termination of the Lease after the date hereof as a result of Tenant exercising Tenant’s termination rights under Sections 12.2, 13.1 or 42.1 of the Lease or Section 13 of the Work Letter; (iv) Tenant shall not subordinate the Lease to any lien or encumbrance (other than the Security Instrument) without Agent’s Lender's prior written consent; (v) except as expressly set forth Tenant shall promptly (or within the applicable period of time provided for in Section 6the Lease) deliver to Lender, abovefrom time to time, a written estoppel statement in the form, and with the certifications, required by the Lease; (vi) Tenant has no right or option of any nature whatsoever, whether pursuant to the Lease or otherwise, to purchase the Property, or any portion thereof or any interest therein, and to the extent that Tenant has, has had, or hereafter acquires any such additional rights right or optionsoption, the same is hereby acknowledged to be subject and subordinate to the Security Instrument and is hereby waived and released as against Agent and any Successor, (vi) Tenant shall promptly, to the same extent and within the same time period required by the Lease, deliver to Agent, from time to time, a written estoppel statement in the formLender, and with the certifications, required by the Lease; (vii) this Agreement supersedes and satisfies any requirement in the Lease relating to the granting of a non-disturbance agreement or providing for subordination of the Lease; (viii) agreement. Nothing in this Section 7 shall prohibit Tenant is the sole owner of the leasehold estate created by the Lease; (ix) the interest of Landlord under from its express rights to terminate the Lease is assigned pursuant to Agent solely as security for the obligations secured by the Security InstrumentSections 12.2, and neither Agent nor the Lenders shall have any duty, liability 13.1 or obligation under 42.1 of the Lease or any extension or renewal thereof, unless Agent either (a) specifically undertakes such liability in writing, or (b) subject to Section 13 of the express terms of this Agreement, Agent becomes a Successor; (x) if this Agreement conflicts with the Lease, then this Agreement shall govern as between the parties and any Successor, including upon any attornment pursuant to this Agreement; and (xi) upon Agent’s transfer or assignment of Agent’s interests in the Loan, the Lease (or any new lease executed pursuant to this Agreement), or the Property, Agent shall be deemed released and relieved of any obligations under this Agreement, the Lease (or any new lease executed pursuant to this Agreement), and with respect to the PropertyWork Letter.
Appears in 1 contract
Samples: Lease (Alexion Pharmaceuticals Inc)
TENANT’S AGREEMENTS. Tenant hereby represents, warrants, covenants and agrees that: (i) Tenant shall not pay any rent under the Lease more than one month in advance of the date due except as expressly required in the Lease with respect to security deposits, operating expenses, taxes and the like; (ii) Tenant shall have no right to appear in any Foreclosure foreclosure action under the Security Instrument (unless named by Agent in such action, Agent agreeing however not to name Tenant unless required pursuant to applicable laws, and then only for such purposes)Instrument; (iii) Tenant shall not amend or modifymodify the Lease, or assign or sublet, the Lease and Tenant shall have no right to cancel or terminate the Lease, without AgentLender’s prior written consent (consent, except as expressly provided that, (xin Section(s) as it relates to any assignments/subletting of Lease undertaken in connection with the terms and provisions set forth in the Lease, Agent shall have the same approval rights as the Landlord has with respect to same and (y) no such approval shall be required with respect to amendments solely evidencing the exercise of Tenant’s option to extend the Lease and assignments or sublets that do not require [to be filled in at the consent time of the Landlord pursuant to the terms of the Lease)execution], and any attempted amendment or amendment, modification, assignment or subletting, cancellation or termination of the Lease in violation of the foregoing shall be of no force or effect as to AgentLender; (iv) Tenant shall not subordinate the Lease to any lien or encumbrance (other than the Security Instrument) without AgentLender’s prior written consent; (v) Tenant shall promptly (or within the applicable period of time provided for in the Lease) deliver to Lender, from time to time, a written estoppel statement in the form, and with the certifications, required by the Lease; (vi) except as expressly set forth in Section 6, aboveArticle XVIII of the Lease, Tenant has no right or option of any nature whatsoever, whether pursuant to the Lease or otherwise, to purchase the Property, or any portion thereof or any interest therein, and to the extent that Tenant has, has had, or hereafter acquires any such additional rights right or optionsoption, other than as set forth in Article XVIII, the same is hereby acknowledged to be subject and subordinate to the Security Instrument and is hereby waived and released as against Agent and any Successor, (vi) Tenant shall promptly, to the same extent and within the same time period required by the Lease, deliver to Agent, from time to time, a written estoppel statement in the formLender, and with the certifications, required by the Lease; (vii) this Agreement supersedes and satisfies any requirement in the Lease relating to the granting of a non-disturbance agreement or providing for subordination of the Lease; (viii) Tenant is the sole owner of the leasehold estate created by the Lease; (ix) the interest of Landlord under the Lease is assigned to Agent solely as security for the obligations secured by the Security Instrument, and neither Agent nor the Lenders shall have any duty, liability or obligation under the Lease or any extension or renewal thereof, unless Agent either (a) specifically undertakes such liability in writing, or (b) subject to the express terms of this Agreement, Agent becomes a Successor; (x) if this Agreement conflicts with the Lease, then this Agreement shall govern as between the parties and any Successor, including upon any attornment pursuant to this Agreement; and (xi) upon Agent’s transfer or assignment of Agent’s interests in the Loan, the Lease (or any new lease executed pursuant to this Agreement), or the Property, Agent shall be deemed released and relieved of any obligations under this Agreement, the Lease (or any new lease executed pursuant to this Agreement), and with respect to the Propertyagreement.
Appears in 1 contract
Samples: Non Disturbance and Attornment Agreement (LogMeIn, Inc.)