Common use of Automatic Subordination Clause in Contracts

Automatic Subordination. This Lease is subject and subordinate to all ground or underlying leases, and all deeds of trust, mortgages and security agreements which may now or later encumber the Office or the Project, any part thereof, or interest therein, and all modifications, extensions, renewals, consolidations and replacements thereof, regardless of the dates of such instruments. The provisions of the immediately preceding sentence shall be self-operative and no further instrument of subordination shall be required. Nevertheless, within 20 days after demand by Landlord, Tenant shall sign, acknowledge and deliver any instrument of subordination Landlord or its designee may reasonably require.