Examples of Landlord Mortgage in a sentence
Tenant shall be responsible for complying with the terms and conditions of, and paying the costs and expenses under, all Encumbrances on the Premises (other than Landlord’s obligations to pay debt service to any Landlord Mortgagee under any Landlord Mortgage).
Tenant shall, at its sole cost and expense, comply with all Encumbrances affecting any Site or any portion thereof (other than Landlord’s obligations to pay debt service to any Landlord Mortgagee under any Landlord Mortgage).
Notwithstanding anything herein to the contrary, Tenant’s right to purchase the Sites pursuant to this Section 46 is and shall be subject and subordinate to any Landlord Mortgage and shall not be applicable to any foreclosure sale, transfer by deed-in-lieu of foreclosure or similar transfer of the Property or to any subsequent transfer or sale of the Sites by any Landlord Mortgagee or its nominee, in each case, whether such transfer or sale affects the Sites or the ownership interests in Landlord.
The Tenant Estate shall be superior to any Permitted Landlord Mortgage, without the need for any action to be taken or documents executed by any Person.
Alternatively, almost every allocation of permits between regions will lead to inefficient outcomes.