TENANT'S RIGHT TO MORTGAGE. In addition to the other rights granted and subject to the provisions of Section 6.01 above, Landlord hereby grants to Tenant the right to mortgage its interest in this Lease to one or more Tenant Mortgagees under one or more Tenant Mortgages, and to assign this Lease as collateral security for any Tenant Mortgages (e.g., construction, semi- permanent, or permanent loans) obtained by Tenant to be secured by the Improvements, upon the conditions that all rights acquired under such Tenant Mortgages shall be subject to the terms of this Lease and to all rights and interests of Landlord herein. If Tenant ever enters into any such Tenant Mortgage, and such Tenant, within thirty (30) days of execution, sends a true copy thereof, together with written notice specifying the name and address of the Tenant Mortgagee, and pertinent recording data with respect to such Tenant Mortgage, then so long as any such Tenant Mortgage shall remain unsatisfied of record, or until written notice of satisfaction is given by Tenant Mortgagee to Landlord, the following provisions shall apply:
(a) Except as set forth with respect to a default by Tenant under this Lease for which Tenant Mortgagee has not exercised any of its rights as set forth herein and under the Tenant Mortgage, there shall be no cancellation, surrender, or modification of this Lease without prior consent in writing of the Tenant Mortgagee;
(b) While such Tenant Mortgage remains unsatisfied of record, Landlord shall simultaneously serve upon Tenant Mortgagee a copy of any notice of default or other notice under this Lease served upon Tenant. If any default occurs that, pursuant to this Lease, entitles Landlord to terminate this Lease, and if, before the expiration of thirty (30) days from the date of service of this notice of termination upon such Tenant Mortgagee, such Tenant Mortgagee notifies Landlord in writing of its desire to nullify such notice, pays to Landlord all rent, fees, and other payments herein provided for and then in default, and prosecutes the same with reasonable diligence to completion, then Landlord shall not be entitled to terminate the Lease and any notice of termination theretofore given shall be void and of no force or effect. In no event shall the Lease be terminated because of any default by Tenant which is not susceptible of being cured by the Tenant Mortgagee or its assignee, so long as the following covenants of the Lease are being complied with (the “Required Covenants”): (i) rents a...
TENANT'S RIGHT TO MORTGAGE. Tenant shall have the right to mortgage, pledge or grant a security interest in its interest in the Premises and in its leasehold in the Premises, and interest in the Improvements, furnishings, furniture, equipment, fixtures, and personal property thereon, from time to time by one or more mortgages, deeds of trust, deeds to secure debt, security agreements or other appropriate instruments, subject to this Section 24 and, if the same occurs during the Basic Term, the consent of the Qualified Fee Mortgagee to the extent required under the Basic Term Loan Documents. Tenant may, subject to obtaining any consent required pursuant to the Basic Term Loan Documents but without the consent of Landlord, execute and deliver from time to time one or more mortgages of, or pledges or grants of a security interest in, its interest in the Premises (including its leasehold and its interest in the Improvements) to one or more Institutional Lenders, each of which mortgages shall encumber no other premises or any interest therein and shall provide in substance that the mortgagee thereunder waives any right to retain and apply any Taking award to the extent such award is required to be applied otherwise by the express terms of this Lease (each such mortgage or instrument being herein referred to as a "Leasehold Mortgage" until it is discharged or satisfied). The lien of a Leasehold Mortgage shall in all events be subject and subordinate to the lien of the Qualified Fee Mortgage but prior to any "landlord" or similar lien now or hereafter existing upon personal property in connection with the Premises, but shall be subordinate to the Basic Term Loan and, if applicable the Extended Term Loan and the Qualified Fee Mortgage securing same. At any time after the execution and delivery of a Leasehold Mortgage, Tenant may send Landlord a notice ("Tenant's Notice") advising of the existence thereof and the address of the mortgagee or beneficiary thereunder for the service of notice, which notice shall be accompanied by conformed copies of such Leasehold Mortgage, the note or other obligation secured thereby and all other documents securing such note or obligation and a certificate of Tenant to the effect that such copies are correct and complete. Each mortgagee or beneficiary under a Leasehold Mortgage with respect to which a notice is given to Landlord in accordance with the immediately preceding sentence is herein referred to as a "Leasehold Mortgagee" until the related Leasehold Mor...
TENANT'S RIGHT TO MORTGAGE. Tenant shall have the absolute and unconditional right, without Landlord’s consent, to execute and deliver Leasehold Mortgage(s) encumbering this Lease and the Leasehold Estate at any time and from time to time during the Term. Landlord shall not be required to join in or “subordinate” the Fee Estate to any Leasehold Mortgage. If Tenant exercises this right, the provisions of Exhibit “G” shall be applicable and shall govern the effect of any rights arising under any Leasehold Mortgage(s) executed and delivered by Tenant as if such provisions were fully set forth in this Lease. The parties shall execute such further documents as may be required to effect the foregoing.
TENANT'S RIGHT TO MORTGAGE. Tenant, in its sole discretion, shall have the right, from time to time, to borrow money and grant as security therefore a mortgage (or deed of trust) on Tenant's leasehold interest covering the Demised Premises upon such terms and conditions as are satisfactory to Tenant.
TENANT'S RIGHT TO MORTGAGE. 11.01. Tenant shall have the right, without Landlord's approval, to mortgage its interest in this Lease, or to pledge, sale-leaseback, or otherwise assign this Lease as security for financing.
11.02. This Lease may be amended from time to time to the extent reasonably requested by any prospective mortgagee, provided that such proposed amendments do not reduce the rent payable to Landlord under this Lease or otherwise materially and adversely affect the rights of Landlord or its interest in the Leased Property.
TENANT'S RIGHT TO MORTGAGE. 44.1 At any time and from time to time during the Term, Tenant may assign or encumber Tenant’s interest in this Lease, but not Landlord’s interest in this Lease or the land or the improvements on the Premises) by one or more mortgages, deeds of trust, deeds to secure debt, or security agreements in favor of or for the benefit of such lenders, containing such terms and provisions as Tenant may, in its sole discretion, deem fit and proper, and without obtaining Landlord’s consent, but upon prior written notice to Landlord. Tenant shall also have the right to mortgage any of its interests in this Lease (but not Landlord’s interest in this Lease or the land or the improvements on the Premises) under a so called “blanket” or multi facility mortgage, in which Tenant’s aforesaid interests may comprise only a portion of the collateral under such blanket mortgage and the indebtedness secured by such blanket mortgage may exceed any and all loans at any time incurred by Tenant in the Premises or the improvements thereon. (Any such document for a financing arrangement is sometimes referred to herein as a mortgage or a “Leasehold Mortgage” and any holder thereof is sometimes referred to herein as a mortgagee).
TENANT'S RIGHT TO MORTGAGE. A Leasehold Mortgage may be granted by way of assignment or otherwise, to a financial institution as designated under Schedule 1 of Canada’s Bank Act, SC 1991, c.46 or such other institution as consented to in writing by the City’s Executive Director, Housing Secretariat. The Tenant shall also have the right to extend, modify, renew or replace any such Leasehold Mortgage with another Leasehold Mortgage, provided however that with respect to such Leasehold Mortgage:
(a) the term of the Leasehold Mortgage shall not extend beyond the end of the Term;
(b) the Leasehold Mortgage shall provide that it is expressly subject and subordinate to the Landlord's rights hereunder and in the Demised Premises;
(c) the Tenant shall observe and perform all of the Tenant’s obligations under any Leasehold Mortgage and keep any Leasehold Mortgage in good standing at all times; and
(d) nothing contained in this Lease shall in any way bind the Landlord to subordinate its reversionary interest in the Demised Premises to any Leasehold Mortgage. The Landlord acknowledges and agrees that the Tenant and/or the mortgagee shall be entitled to register the Leasehold Mortgage on the leasehold parcel for the Demised Premises.
TENANT'S RIGHT TO MORTGAGE. Notwithstanding the restrictions in Section 13.1.1 above, Tenant shall have the right, from time to time, without Landlord’s consent, to mortgage Tenant’s leasehold estate (but not Landlord’s interest in the Property) to a Permitted Mortgagee (as defined below) if (and only if) such Permitted Mortgagee executes and delivers to Landlord a written agreement providing that (i) such Permitted Mortgagee shall have no lien against Landlord’s fee simple title to the Demised Premises; (ii) such Permitted Mortgagee’s lien is subject in all respects to the rights of Landlord under this Lease, including its interest in the Building and the Tenant Improvements that will become the property of Landlord upon the expiration or earlier termination of this Lease; (iii) if a Single Tenant Office Lease Agreement Horizon Health Corporation - 21
TENANT'S RIGHT TO MORTGAGE. Provided Tenant is not in default under this Lease, and subject to the terms and conditions set forth in this Lease, Tenant shall have the right to encumber its leasehold interest by one or more mortgages, deeds of trust, security agreements or otherwise (a "Leasehold Mortgage"); subject, however, to the limitations set forth in this Section 13. Any such Leasehold Mortgage shall be subject and subordinate to the rights of Landlord under this Lease.
(a) No holder of a Leasehold Mortgage on this Lease shall have the rights or benefits set forth in this Section 13, nor shall the provisions of this Section 13 be binding upon Landlord, unless and until Landlord has received written notice ox xxxx Xeasehold Mortgage.
(b) If Tenant shall enter into a Leasehold Mortgage pursuant to this Section 13, then so long as any such Leasehold Mortgage shall remain unsatisfied of record, the following provisions shall apply:
TENANT'S RIGHT TO MORTGAGE. Section 12.1 of the Existing Lease is hereby deleted in its entirety, and the following text is substituted therefor:
