Common use of CMHC Clause in Contracts

CMHC. 22.1 Notwithstanding any other provisions of this Sublease, where the whole or any part of the interest of the Sublessee under this Sublease is mortgaged to a Mortgagee, insured against borrower default, under the National Housing Act (Canada), then: (a) the Sublessor shall not exercise effectively as against the Mortgagee any right of re-entry or distress or right to terminate this Sublease until: (i) the Sublessor gives to the Mortgagee at least 45 days in writing of the intention to re-enter or to distrain or to terminate specifying the full particulars of the grounds therefore; (ii) the Mortgagee does not during that 45 day period either remedy all specified proper grounds for re-entry or distraint or termination or give to the Sublessor notice in writing that the Mortgagee intends to take, or has taken, formal proceedings for the enforcement of its mortgage and the protection of its position; and (iii) the Mortgagee, having given the notice specified in (ii), has had reasonable time to pursue to their conclusion all reasonable proceedings for the enforcement of its mortgage and the protection of its position; (b) if upon the conclusion of proceedings by the Mortgagee for the enforcement of its mortgage and the protection of its position the rights of the Sublessee have been released to the Mortgagee or foreclosed or sold then thereupon all then existing grounds for re-entry or distress or termination and all the existing rights (if any) of re-entry or distress or termination shall terminate and the Mortgagee or purchaser shall become the sublessor free of all liability for such grounds; (c) where the Sublessor, at the request of the Sublessee, intends to terminate the Sublease either by surrender or otherwise, notice of such intention shall be given in writing to the Mortgagee, allowing the Mortgagee at least sixty (60) days to obtain repayment in full of the outstanding mortgage, inclusive of interest and penalties, or take mortgage default enforcement action with its rights pursuant to paragraphs (a), (b) and (c) herein intact. If the Mortgagee provides to the Sublessor notice of its intention to commence or the commencement of mortgage default enforcement action to realize on its security, including but not limited to foreclosure proceedings, the Sublessor shall not accept a surrender of this Sublease; (d) throughout any period of time during which, as a result of proceedings for default under the mortgage including transfer of title under the National Housing Act (Canada), the Mortgagee or CMHC as successor is in leasehold possession of the Leased Premises or holds leasehold title to the Leased Premises: (i) the Sublessor waives, as against the Mortgagee and CMHC and their successors and assigns, all rent and additional rent and interest accruing and otherwise required to be paid under this Sublease, but for the purposes of this waiver, rent and additional rent do not include municipal real estate taxes, school taxes, local improvement charges, water rates and utility charges required to be paid by the Sublessor or the Sublessee and the actual costs of construction, maintenance and repair of damage that are the responsibility of the Sublessee, (ii) the review and approval of the Sublessor shall not be required with respect to plans, specifications, contractors, workers, tradesmen, materials, proposals, details and drawings for repairs, replacements, maintenance, improvements, alterations, and decorations, and (iii) the consent of the Sublessor shall not be required with respect to any vacancy of or removal of goods from the demised premises; (e) the Mortgagee and CMHC shall not remain liable on the Sublease after assignment or release by them of this Sublease; (f) if any time the Leased Premises are damaged or destroyed to the extent of twenty- five (25%) per cent or more of their full insurable value, then the Mortgagee or CMHC as successor may, within sixty (60) days of its receipt of notice of the event and extent of damage or destruction and appropriate amount of available insurance proceeds, elect to require that the insurance proceeds not be applied toward the repair or rebuilding or restoration of the Leased Premises, and in the event of such an election the insurance proceeds shall be applied, in priority, (i) first, but only if and to the extent required by the Sublessor or the Sublessee, toward clearing and restoring the lands as nearly as possible to their condition prior to the commencement of construction, (ii) second, towards payment of all monies owing on the mortgage, (iii) third, towards payment of all monies payable to the Sublessor under this Sublease, and (iv) fourth, in payment to the Sublessor and the Sublessee in accordance with their interests therein, and the Sublessee shall not be obligated to repair or rebuild or restore; and (g) there shall be no obligation on CMHC to arrange or maintain any insurance, and for the purposes of paragraph (f) if because the CMHC has not arranged or maintained insurance there are no or insufficient insurance proceeds and the CMHC makes the election specified then the CMHC shall not be required to do more than clear and restore the Leased Premises as nearly as possible to their condition prior to the commencement of construction and shall be entitled to apply to that end whatever insurance proceeds may be available; (h) there shall be no obligation on CMHC to indemnify the Sublessor except where the CMHC would be so obligated apart from the terms of this Sublease; (i) any party requiring arbitration pursuant to the terms of this Sublease shall give timely notice of all arbitration proceedings to the Mortgagee and the Mortgagee may participate fully in the proceedings if in its reasonable opinion the outcome may affect its security; and (j) without restricting the generality of the foregoing, all references to Mortgagee shall include the CMHC.

CMHC. 22.1 27.1 Notwithstanding any other provisions of this Sublease, where the whole or any part of the interest of the Sublessee Subtenant under this Sublease is mortgaged to a Mortgagee, insured against borrower default, under the National Housing Act (Canada)Act, then: (a) the Sublessor The Sublandlord shall not exercise effectively as against the Mortgagee any right of re-entry or distress or right to terminate this Sublease until: (i) the Sublessor The Sublandlord gives to the Mortgagee at least 45 days notice in writing of the intention to re-enter or to distrain or to terminate specifying the full particulars of the grounds therefore;, (ii) the The Mortgagee does not during that 45 day period either remedy all specified proper grounds for re-entry or distraint or termination or give to the Sublessor Sublandlord notice in writing that the Mortgagee intends to take, or has taken, formal proceedings for the enforcement of its mortgage and the protection of its position; , and (iii) the Mortgagee, having given the notice specified in (ii), has had reasonable time to pursue to their conclusion all reasonable proceedings for the enforcement of its mortgage and the protection of its position;; and (b) if If upon the conclusion of proceedings by the Mortgagee for the enforcement of its mortgage Mortgage and the protection of its position the rights of the Sublessee Subtenant have been released to the Mortgagee or foreclosed or sold then thereupon all then existing grounds for re-entry or distress or termination and all the existing rights (if any) of re-entry or distress or termination shall terminate and the Mortgagee or purchaser shall become the sublessor subtenant free of all liability for such grounds;; and (c) where the SublessorSublandlord, at the request of the SublesseeSubtenant, intends to terminate the Sublease either by surrender or otherwise, notice of such intention shall be given in writing to the Mortgagee, allowing the Mortgagee at least sixty (60) 60 days to obtain repayment in full of the outstanding mortgage, inclusive of interest and penalties, or take mortgage default enforcement action with its rights pursuant to paragraphs (a), (b) b and (c) c herein intact. If the Mortgagee provides to the Sublessor Sublandlord notice of its intention to commence or the commencement of mortgage default enforcement action to realize on its security, including but not limited to foreclosure proceedings, the Sublessor Sublandlord shall not accept a surrender of this Sublease;; and (d) throughout any period of time during which, as a result of proceedings for default under the mortgage Mortgage including transfer of title under the National Housing Act (Canada)Act, the Mortgagee or CMHC as successor is in leasehold possession of the Leased Subleased Premises or holds leasehold title to the Leased Subleased Premises:, (i) the Sublessor Sublandlord waives, as against the Mortgagee and CMHC and their successors and assigns, all rent and additional rent and interest accruing and otherwise required to be paid under this Sublease, but for the purposes of this waiver, rent and additional rent do not include municipal real estate taxes, school taxes, local improvement charges, water rates and utility charges required to be paid by the Sublessor Sublandlord or the Sublessee Subtenant, the Subtenant’s Proportionate Share of Common Costs and the actual costs of construction, maintenance and repair of damage that are the responsibility of the Sublessee,Subtenant, and (ii) the review and approval of the Sublessor Sublandlord shall not be required with respect to plans, specifications, contractors, workers, tradesmen, materials, proposals, details and drawings for repairs, replacements, maintenance, improvements, alterations, and decorations, and (iii) the consent of the Sublessor Sublandlord shall not be required with respect to any vacancy of or removal of goods from the demised premises;; and (e) no restriction on assignment or subletting of this Sublease by the Subtenant applies to any assignment or subletting or release of this Sublease to the Mortgagee or CMHC as successor, and the Mortgagee and CMHC shall not remain liable on the Sublease after assignment or release by them of this Sublease;them; and (f) if any time the Leased Subleased Premises are damaged or destroyed to the extent of twenty- twenty-five (25%) per cent or more of their full insurable value, then the Mortgagee or CMHC as successor may, within sixty (60) 60 days of its receipt of notice of the event and extent of damage or destruction and appropriate amount of available insurance proceeds, elect to require that the insurance proceeds not be applied toward the repair or rebuilding or restoration of the Leased Subleased Premises, and in the event of such an election the insurance proceeds shall be applied, in priority, (i) first, but only if and to the extent required by the Sublessor Sublandlord or the SublesseeSubtenant, toward clearing and restoring the lands as nearly as possible to their condition prior to the commencement of construction, (ii) second, towards payment of all monies owing on the mortgageMortgage, (iii) third, towards payment of all monies payable to the Sublessor Sublandlord under this Sublease, and (iv) fourth, in payment to the Sublessor Sublandlord and the Sublessee Subtenant in accordance with their interests therein, and the Sublessee shall not be obligated to repair or rebuild or restore; and, (g) there shall be no obligation on CMHC to arrange or maintain any insurance, and for the purposes of paragraph (f) if because the CMHC has not arranged or maintained insurance there are no or insufficient insurance proceeds and the CMHC makes the election specified then the CMHC shall not be required to do more than clear and restore the Leased Premises Demised Lands as nearly as possible to their condition prior to the commencement of construction and shall be entitled to apply to that end whatever insurance proceeds may be available;; and (h) there shall be no obligation on CMHC to indemnify the Sublessor Sublandlord except where the CMHC would be so obligated apart from the terms of this Sublease;; and (i) any party requiring arbitration pursuant to the terms of this Sublease shall give timely notice of all arbitration proceedings to the Mortgagee and the Mortgagee may participate fully in the proceedings if in its reasonable opinion the outcome may affect its security; and (j) without restricting the generality of the foregoing, all references to Mortgagee shall include the CMHC.

CMHC. 22.1 Notwithstanding any other provisions of this Sublease, where the whole or any part of the interest of the Sublessee under this Sublease is mortgaged to a Mortgagee, insured against borrower default, under the National Housing Act (Canada), then: (a) the Sublessor shall not exercise effectively as against the Mortgagee any right of re-entry or distress or right to terminate this Sublease until: (i) the Sublessor gives to the Mortgagee at least 45 forty-five (45) days in writing of the intention to re-enter or to distrain or to terminate specifying the full particulars of the grounds thereforetherefor; (ii) the Mortgagee does not during that 45 forty-five (45) day period either remedy all specified proper grounds for re-entry or distraint or termination or give to the Sublessor notice in writing that the Mortgagee intends to take, or has taken, formal proceedings for the enforcement of its mortgage and the protection of its position; and (iii) the Mortgagee, having given the notice specified in (ii), has had reasonable time to pursue to their conclusion all reasonable proceedings for the enforcement of its mortgage and the protection of its position; (b) if upon the conclusion of proceedings by the Mortgagee for the enforcement of its mortgage and the protection of its position the rights of the Sublessee have been released to the Mortgagee or foreclosed or sold then thereupon all then existing grounds for re-entry or distress or termination and all the existing rights (if any) of re-entry or distress or termination shall terminate and the Mortgagee or purchaser shall become the sublessor free of all liability for such grounds; (c) where the Sublessor, at the request of the Sublessee, intends to terminate the Sublease either by surrender or otherwise, notice of such intention shall be given in writing to the Mortgagee, allowing the Mortgagee at least sixty (60) days to obtain repayment in full of the outstanding mortgage, inclusive of interest and penalties, or take mortgage default enforcement action with its rights pursuant to paragraphs (a), (b) and (c) herein intact. If the Mortgagee provides to the Sublessor notice of its intention to commence or the commencement of mortgage default enforcement action to realize on its security, including but not limited to foreclosure proceedings, the Sublessor shall not accept a surrender of this Sublease; (d) throughout any period of time during which, as a result of proceedings for default under the mortgage including transfer of title under the National Housing Act (Canada), the Mortgagee or CMHC as successor is in leasehold possession of the Leased Premises or holds leasehold title to the Leased Premises: (i) the Sublessor waives, as against the Mortgagee and CMHC and their successors and assigns, all rent and additional rent and interest accruing and otherwise required to be paid under this Sublease, but for the purposes of this waiver, rent and additional rent do not include municipal real estate taxes, school taxes, local improvement charges, water rates and utility charges required to be paid by the Sublessor or the Sublessee and the actual costs of construction, maintenance and repair of damage that are the responsibility of the Sublessee, (ii) the review and approval of the Sublessor shall not be required with respect to plans, specifications, contractors, workers, tradesmen, materials, proposals, details and drawings for repairs, replacements, maintenance, improvements, alterations, and decorations, and (iii) the consent of the Sublessor shall not be required with respect to any vacancy of or removal of goods from the demised premises; (e) the Mortgagee and CMHC shall not remain liable on the Sublease after assignment or release by them of this Sublease; (f) if the Mortgagee or CMHC is entitled under this Sublease to take action for the enforcement of its mortgage and the rights of the Sublessee have been assigned or transferred to the Mortgagee or CMHC, the Sublessor waives, as against the Mortgagee or CMHC, the conditions to the assignment or transfer of the Sublease set out in Subsections 24.1(d) and (g); (g) if any time the Leased Premises are damaged or destroyed to the extent of twenty- five fifty percent (2550%) per cent or more of their full insurable value, then the Mortgagee or CMHC as successor may, within sixty (60) days of its receipt of notice of the event and extent of damage or destruction and appropriate amount of available insurance proceeds, elect to require that the insurance proceeds not be applied toward the repair or rebuilding or restoration of the Leased Premises, and in the event of such an election the insurance proceeds shall be applied, in priority, (i) first, but only if and to the extent required by the Sublessor or the Sublessee, toward clearing and restoring the lands as nearly as possible to their condition prior to the commencement of construction, (ii) second, towards payment of all monies owing on the mortgage, (iii) third, towards payment of all monies payable to the Sublessor under this Sublease, and (iv) fourth, in payment to the Sublessor and the Sublessee in accordance with their interests therein, and the Sublessee shall not be obligated to repair or rebuild or restore; and (gh) there shall be no obligation on CMHC to arrange or maintain any insurance, and for the purposes of paragraph (fg) if because the CMHC has not arranged or maintained insurance there are no or insufficient insurance proceeds and the CMHC makes the election specified then the CMHC shall not be required to do more than clear and restore the Leased Premises as nearly as possible to their condition prior to the commencement of construction and shall be entitled to apply to that end whatever insurance proceeds may be available; (hi) there shall be no obligation on CMHC to indemnify the Sublessor except where the CMHC would be so obligated apart from the terms of this Sublease; (ij) any party requiring arbitration pursuant to the terms of this Sublease shall give timely notice of all arbitration proceedings to the Mortgagee and the Mortgagee may participate fully in the proceedings if in its reasonable opinion the outcome may affect its security; and (jk) without restricting the generality of the foregoing, all references to Mortgagee shall include the CMHC.

CMHC. 22.1 27.1 Notwithstanding any other provisions of this Sublease, where the whole or any part of the interest of the Sublessee Subtenant under this Sublease is mortgaged to a Mortgagee, insured against borrower default, under the National Housing Act (Canada)Act, then: (a) the Sublessor The Sublandlord shall not exercise effectively as against the Mortgagee any right of re-entry or distress or right to terminate this Sublease until: (i) the Sublessor The Sublandlord gives to the Mortgagee at least 45 days notice in writing of the intention to re-enter or to distrain or to terminate specifying the full particulars of the grounds therefore;, (ii) the The Mortgagee does not during that 45 day period either remedy all specified proper grounds for re-entry or distraint or termination or give to the Sublessor Sublandlord notice in writing that the Mortgagee intends to take, or has taken, formal proceedings for the enforcement of its mortgage and the protection of its position; , and (iii) the Mortgagee, having given the notice specified in (ii), has had reasonable time to pursue to their conclusion all reasonable proceedings for the enforcement of its mortgage and the protection of its position;; and (b) if If upon the conclusion of proceedings by the Mortgagee for the enforcement of its mortgage Mortgage and the protection of its position the rights of the Sublessee Subtenant have been released to the Mortgagee or foreclosed or sold then thereupon all then existing grounds for re-entry or distress or termination and all the existing rights (if any) of re-re- entry or distress or termination shall terminate and the Mortgagee or purchaser shall become the sublessor subtenant free of all liability for such grounds;; and (c) where the SublessorSublandlord, at the request of the SublesseeSubtenant, intends to terminate the Sublease either by surrender or otherwise, notice of such intention shall be given in writing to the Mortgagee, allowing the Mortgagee at least sixty (60) 60 days to obtain repayment in full of the outstanding mortgage, inclusive of interest and penalties, or take mortgage default enforcement action with its rights pursuant to paragraphs (a), (b) b and (c) c herein intact. If the Mortgagee provides to the Sublessor Sublandlord notice of its intention to commence or the commencement of mortgage default enforcement action to realize on its security, including but not limited to foreclosure proceedings, the Sublessor Sublandlord shall not accept a surrender of this Sublease;; and (d) throughout any period of time during which, as a result of proceedings for default under the mortgage Mortgage including transfer of title under the National Housing Act (Canada)Act, the Mortgagee or CMHC as successor is in leasehold possession of the Leased Subleased Premises or holds leasehold title to the Leased Subleased Premises:, (i) the Sublessor Sublandlord waives, as against the Mortgagee and CMHC and their successors and assigns, all rent and additional rent and interest accruing and otherwise required to be paid under this Sublease, but for the purposes of this waiver, rent and additional rent do not include municipal real estate taxes, school taxes, local improvement charges, water rates and utility charges required to be paid by the Sublessor Sublandlord or the Sublessee Subtenant, the Subtenant’s Proportionate Share of Common Costs and the actual costs of construction, maintenance and repair of damage that are the responsibility of the Sublessee,Subtenant, and (ii) the review and approval of the Sublessor Sublandlord shall not be required with respect to plans, specifications, contractors, workers, tradesmen, materials, proposals, details and drawings for repairs, replacements, maintenance, improvements, alterations, and decorations, and (iii) the consent of the Sublessor Sublandlord shall not be required with respect to any vacancy of or removal of goods from the demised premises;; and (e) no restriction on assignment or subletting of this Sublease by the Subtenant applies to any assignment or subletting or release of this Sublease to the Mortgagee or CMHC as successor, and the Mortgagee and CMHC shall not remain liable on the Sublease after assignment or release by them of this Sublease;them; and (f) if at any time the Leased Subleased Premises are damaged or destroyed to the extent of twenty- twenty-five (25%) per cent or more of their full insurable value, then the Mortgagee or CMHC as successor may, within sixty (60) 60 days of its receipt of notice of the event and extent of damage or destruction and appropriate amount of available insurance proceeds, elect to require that the insurance proceeds not be applied toward the repair or rebuilding or restoration of the Leased Subleased Premises, and in the event of such an election the insurance proceeds shall be applied, in priority, (i) first, but only if and to the extent required by the Sublessor Sublandlord or the SublesseeSubtenant, toward clearing and restoring the lands as nearly as possible to their condition prior to the commencement of construction, (ii) second, towards payment of all monies owing on the mortgageMortgage, (iii) third, towards payment of all monies payable to the Sublessor Sublandlord under this Sublease, and (iv) fourth, in payment to the Sublessor Sublandlord and the Sublessee Subtenant in accordance with their interests therein, and the Sublessee shall not be obligated to repair or rebuild or restore; and, (g) there shall be no obligation on CMHC to arrange or maintain any insurance, and for the purposes of paragraph (f) if because the CMHC has not arranged or maintained insurance there are no or insufficient insurance proceeds and the CMHC makes the election specified then the CMHC shall not be required to do more than clear and restore the Leased Premises Demised Lands as nearly as possible to their condition prior to the commencement of construction and shall be entitled to apply to that end whatever insurance proceeds may be available;; and (h) there shall be no obligation on CMHC to indemnify the Sublessor Sublandlord except where the CMHC would be so obligated apart from the terms of this Sublease;; and (i) any party requiring arbitration pursuant to the terms of this Sublease shall give timely notice of all arbitration proceedings to the Mortgagee and the Mortgagee may participate fully in the proceedings if in its reasonable opinion the outcome may affect its security; and (j) without restricting the generality of the foregoing, all references to Mortgagee shall include the CMHC.