Underlying Party definition

Underlying Party means the holder of the landlord's interest under any ground or similar lease and/or the mortgagee or purchaser at foreclosure with respect to any mortgage. Xxxxxx agrees that any Underlying Party may unilaterally subordinate its mortgage or lease to this Lease at any time by filing a notice of such subordination in the Official Public Records of Real Property of the County where the Building is located.
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Underlying Party means the holder of the Landlord’s interest under any ground or similar lease and/or the mortgagee or purchaser at foreclosure with respect to any mortgage. Tenant agrees that any Underlying Party may unilaterally subordinate its mortgage or lease to this Lease at any time by filing a notice of such subordination in the Official Public Records of Real Property of the County where the Building is located. Notwithstanding anything to the contrary contained in this Lease, the Underlying Documents shall in all events be subordinate to the terms of the Development Agreement. Without limiting the foregoing, in the event of the termination of any ground or similar lease affecting the Project or the enforcement by the trustee or the beneficiary under any mortgage or deed of trust of remedies provided by law or such deed of trust, Tenant’s rights to terminate this Lease set forth in the Development Agreement shall be binding upon any successor in interest (whether or not the events giving rise to such termination occurred prior to or after such termination or enforcement).
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Underlying Party means the holder of the lessor’s interest under any ground or similar lease of all or part of the Building and/or the mortgagee or purchaser at foreclosure with respect to any mortgage of all or part of the Building. Tenant agrees that any Underlying Party may unilaterally subordinate its mortgage or lease to this Lease at any time by filing a notice of such subordination in the Official Public Records of Real Property of the county where the Building is located.
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Examples of Underlying Party in a sentence

  • Source: van der Eijk, van der Brug, Kroh and Franklin (2006) 52Fig.4.1. Protest Motivations and Contextual Factors: Average Marginal Effects 73Fig.4.2. Protest Motivations Underlying Party Preferences and Contextual Factors: Marginal Effects 77Fig.5.1. Anti-establishment parties’ electoral gains/losses (%) between the last and the first counterfactual scenario by their level of anti-establishment distinctiveness on the supply side.

  • As used in this Lease, the term "Underlying Party" shall mean the holder of the landlord's interest under any ground or similar lease and/or the mortgagee or purchaser at foreclosure with respect to any mortgage.

  • Xxxxxx agrees that any Underlying Party may unilaterally subordinate its mortgage or lease to this Lease at any time by filing a notice of such subordination in the Official Public Records of Real Property of the County where the Building is located.

  • This Lease is and shall be subject and subordinate to any and all ground or similar leases affecting the Project, all mortgages which may now or hereafter encumber or affect the Project and to all renewals, modifications, consolidations, replacements and extensions of any such leases and/or mortgages; provided, however, that at the option of any Underlying Party (hereinafter defined), this Lease shall be superior to the lease or mortgage of such Underlying Party.

  • Teleconcept does not accept any liability for any damage(s) and/or loss(es) suffered by Merchant, third or Underlying Party resulting from the use of offered services.

  • The Corporation and its Affiliates shall make arrangements for the collection of any minimum Federal, State, foreign, or local taxes of any kind required to be withheld with respect to any transactions effected under the Plan.


More Definitions of Underlying Party

Underlying Party means the holder of the lessor's interest under any ground or similar lease of all or part of the Building and/or the mortgagee or purchaser at foreclosure with respect to any mortgage of all or part of the Building. Tenant agrees that any Underlying Party may unilaterally subordinate its mortgage or lease to this Lease at any time by filing a notice of such subordination in the Official Public Records of Real Property of the county where the Building is located. In the event Landlord places a mortgage on the property that exceeds 80% of value. Landlord shall use its best efforts to procure a non-disturbance agreement benefiting Tenant.
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Related to Underlying Party

  • Contracting Party shall have the meaning designated in the preamble to Section 5.2 hereof.

  • Producing Party means the parties to this action and any third-parties producing “Confidential Information” in connection with depositions, document production or otherwise, or the party asserting the confidentiality privilege, as the case may be.

  • Controlling Party Has the meaning specified in the Intercreditor Agreement.

  • Servicer means the Master Servicer or the Special Servicer, as the context may require.