Examples of SNDA in a sentence
Lessee shall, at its sole cost and expense, record each such SNDA in the Official Records.
Landlord shall cause the same to be fully executed and tender the same to Tenant no later than sixty (60) days from the date Tenant so tenders to Landlord this Lease and the SNDA executed by Txxxxx, and if Landlord fails to do so within such sixty (60)- day period, and such failure continues for thirty (30) days after notice from Tenant, then Tenant may terminate this Lease upon notice to Landlord by providing written notice to Landlord within five (5) business days following such thirty (30)-day period.
The “Delivery Date” means the date on which the following requirements are satisfied: (i) Tenant’s receipt of this fully executed Lease; (ii) Landlord tenders possession of the Premises to Tenant in the condition described in Paragraph 4 below; and (iii) the SNDA Contingency (as defined in Paragraph 21 below) is satisfied (collectively, the "Delivery Requirements").
Tenant hereby covenants and agrees that as part of any SNDA with respect to a first priority real property secured loan or mezzanine loan, Tenant shall specifically subordinate its Right of First Offer to Purchase and any documents executed in connection therewith to the applicable mortgage or security agreement referenced in such SNDA, provided that each such SNDA must recognize that the Right of First Offer to Purchase continues in effect following any foreclosure sale.
In the event Tenant wishes to negotiate such lender’s form of SNDA, it shall do so directly with the lender and shall be solely responsible for any fees imposed by such lender.