Common use of Tenant’s Right to Encumber Clause in Contracts

Tenant’s Right to Encumber. Tenant shall have the right, from time to time and at any time, without Landlord's consent or joinder, to encumber its interest in this Lease and the leasehold estate hereby created with one or more deeds of trust, mortgages, or other lien instruments to secure any borrowings or obligations of Tenant. Any such mortgages, deeds of trust, and/or other lien instruments, and the indebtedness secured thereby, provided that Landlord has been given notice thereof as set forth in Section 10.2, are herein referred to as "PERMITTED MORTGAGEES," and the holder or other beneficiary thereof are herein referred to as "PERMITTED MORTGAGEES."

Tenant’s Right to Encumber. Tenant shall have the right, from time to time and at any time, without Landlord's consent or joinder, to encumber its interest in this Lease and the leasehold estate hereby created with one or more deeds of trust, mortgages, or other lien instruments to secure any borrowings or obligations of Tenant. Any such mortgages, deeds of trust, and/or other lien instruments, and the indebtedness secured thereby, provided that Landlord has been given notice thereof as set forth in Section 10.2thereof, are herein referred to as "PERMITTED MORTGAGEESMORTGAGES," and the holder or other beneficiary thereof are herein referred to as "PERMITTED MORTGAGEES."