Common use of Financing Subordination Clause in Contracts

Financing Subordination. This Lease and the rights of Tenant hereunder are subject and subordinate to any first lien mortgage or deed of trust, together with all renewals, modifications, consolidations, replacements, and extensions thereof, which may now or hereafter encumber the Premises on which it is located, provided the holder of any such mortgage or deed of trust executes and delivers to tenant an agreement in a form suitable for recording pursuant to which the holder agrees that it will recognize this Lease and will not disturb Tenant's possession of the Premises in the event of foreclosure or deed-in-lieu of foreclosure of such mortgage or deed of trust so long as Tenant is not then in default under this Lease. Tenant agrees to execute such further documents as may be necessary for subordinating this Lease to any mortgage, deed of trust, as the case may be, and further agrees to execute any other document of attornment required by Landlord's mortgagee. Tenant irrevocably appoints Landlord as Tenant's attorney-in-fact to execute and deliver in the name of Tenant any such instrument or instruments in the event that Tenant fails to so deliver said instrument or instruments within ten (10) days after written demand from Landlord. Tenant agrees that it shall not undertake any act which will cause a lien to be filed against the subject property, and Tenant acknowledges that it has no power to encumber or cloud Landlord's title. Tenant further agrees that if, because of any act or omission of Tenant, any mechanic's lien or other lien, charge, or order for the payment of money shall be filed against Tenant or any portion of the Premises, or upon the right, title, and interest of Tenant created by this Lease, Tenant shall, at its own cost and expense, cause the same to be discharged of record or bonded within fifteen (15) days after written notice by Landlord to Tenant of the filing thereof; and Tenant hereby agrees to indemnify and hold Landlord harmless against and from all costs, liabilities, suits, penalties, claims, and demands therefrom.

Financing Subordination. This 20.1 Tenant accepts this Lease and the rights of Tenant hereunder are subject and subordinate to any first lien mortgage or mortgage, deed of trust, together with trust or other lien now or hereafter existing upon the Premises or the Center and any and all renewals, modifications, consolidations, replacements, modifications and extensions thereof, which may now or hereafter encumber the Premises on which it . Landlord is located, provided the holder of any such mortgage or deed of trust executes hereby irrevocably vested with full power and delivers authority to tenant an agreement in a form suitable for recording pursuant to which the holder agrees that it will recognize this Lease and will not disturb Tenant's possession of the Premises in the event of foreclosure or deed-in-lieu of foreclosure of such mortgage or deed of trust so long as Tenant is not then in default under this Lease. Tenant agrees to execute such further documents as may be necessary for subordinating subordinate this Lease to any mortgage, deed of trust, as trust or other lien now or hereafter placed upon the case may bePremises or the Center, and Tenant shall upon demand execute such further agrees instruments subordinating this Lease as Landlord may request. After receipt of a written request from Tenant, Landlord shall use reasonable efforts to execute furnish (but shall not be obligated to furnish) Tenant with an agreement from any other document Landlord’s mortgagee to the effect that the rights of attornment required Tenant shall remain in full force and effect during the Lease Term, and Tenant’s possession of the Premises shall not be disturbed, so long as Tenant is not in default hereunder, and shall continue to perform all the covenants and conditions of this Lease. At any time and from time to time, upon not less than 10 days' prior notice by Landlord's mortgagee. , Tenant irrevocably appoints Landlord as Tenant's attorney-in-fact to execute shall execute, acknowledge and deliver to Landlord a statement of the Tenant in writing (the “Estoppel”) certifying that this Lease is in full force and effect (or if there have been modifications hereto, that the same is in full force and effect as modified and stating the modifications), and the dates to which the Rent has been paid in advance, if any, stating whether or not, to the best knowledge of Tenant, Landlord is in default in the name keeping, observance or performance of any covenant, agreement, term, provision or condition contained in this Lease and, if so, specifying each such default of which Tenant may have knowledge, and stating such other matters as Landlord shall reasonably request, it being intended that such statement may be relied upon by Landlord and any such instrument prospective purchaser, lessee, mortgagee or instruments in assignee of any mortgage of the event that Center or of the Landlord's interest therein. If Tenant fails to so deliver said instrument such written statement to Landlord within such 10 days (and without limitation of any other rights or instruments within ten (10) days after written demand from Landlord. Tenant agrees that remedies), it shall not undertake any act which will cause a lien to be filed against deemed, for all purposes, the subject propertylanguage contained in the Estoppel is true, correct and complete in all respects, and Tenant acknowledges that it has no power to encumber or cloud Landlord's title. Tenant further agrees that if, because of any act or omission of Tenant, any mechanic's lien or other lien, chargelender of, or order for the payment of money purchaser from Landlord shall be filed against Tenant or any portion of the Premises, or upon the right, title, and interest of Tenant created by this Lease, Tenant shall, at its own cost and expense, cause the same entitled to be discharged of record or bonded within fifteen (15) days after written notice by Landlord to Tenant of the filing thereof; and Tenant hereby agrees to indemnify and hold Landlord harmless against and from all costs, liabilities, suits, penalties, claims, and demands therefromrely thereon.

Financing Subordination. This Lease and the rights of Tenant hereunder are subject and subordinate to any first lien mortgage or deed of trust, together with all renewals, modifications, consolidations, replacements, and extensions thereof, which may now or hereafter encumber the Premises on which it is located, provided the holder of any such mortgage or deed of trust executes and delivers to tenant an agreement in a form suitable for recording pursuant to which the holder agrees that it will recognize this Lease and will not disturb Tenant's possession of the LEASE AGREEMENT PAGE 12 13 Premises in the event of foreclosure or deed-in-lieu of foreclosure of such mortgage or deed of trust so long as Tenant is not then in default under this Lease. Tenant agrees to execute such further documents as may be necessary for subordinating this Lease to any mortgage, deed of trust, as the case may be, and further agrees to execute any other document of attornment required by Landlord's mortgagee. Tenant irrevocably appoints Landlord as Tenant's attorney-in-fact to execute and deliver in the name of Tenant any such instrument or instruments in the event that Tenant fails to so deliver said instrument or instruments within ten (10) days after written demand from Landlord. Tenant agrees that it shall not undertake any act which will cause a lien to be filed against the subject property, and Tenant acknowledges that it has no power to encumber or cloud Landlord's title. Tenant further agrees that if, because of any act or omission of Tenant, any mechanic's lien or other lien, charge, or order for the payment of money shall be filed against Tenant or any portion of the Premises, or upon the right, title, and interest of Tenant created by this Lease, Tenant shall, at its own cost and expense, cause the same to be discharged of record or bonded within fifteen (15) days after written notice by Landlord to Tenant of the filing thereof; and Tenant hereby agrees to indemnify and hold Landlord harmless against and from all costs, liabilities, suits, penalties, claims, and demands therefrom.

Financing Subordination. This 20.1 Subject to the execution and recording of a SNDA (herein defined) applicable thereto in accordance with the terms of this Section, this Lease and the rights of Tenant hereunder are shall be subject and subordinate to any first lien mortgage or deed of trust, together with all renewals, modifications, consolidations, replacements, and extensions thereof, which may now or hereafter encumber the Premises on which it is located, provided the holder of any such mortgage or deed of trust executes and delivers to tenant an agreement in a form suitable for recording pursuant to which the holder agrees that it will recognize this Lease and will not disturb Tenant's possession of the Premises in the event of foreclosure or deed-in-lieu of foreclosure of such mortgage or deed of trust so long as Tenant is not then in default under this Lease. Tenant agrees to execute such further documents as may be necessary for subordinating this Lease to any mortgage, deed of trusttrust or other lien now or hereafter existing upon the Premises or the Center and any and all renewals, modifications and extensions thereof. Xxxxxxxx shall use commercially reasonable efforts to cause any and all present or future holders of any outstanding mortgage, deed of trust or other lien covering Landlord’s interest in the Center to enter into a non-disturbance agreement with Tenant, which non-disturbance agreement may be on such holder’s standard form but shall otherwise be in form and substance reasonably satisfactory to Tenant (each, a “SNDA”) and shall cause each SNDA to be fully executed, acknowledged and recorded in the real property records of the county in which the Center is located. At any time and from time to time, upon not less than 20 days’ prior notice by Landlord, Tenant shall execute, acknowledge and deliver to Landlord a statement of the Tenant in writing certifying that this Lease is in full force and effect and there are no modifications thereof, (or if there have been modifications hereto, that the same is in full force and effect as modified and stating the case may bemodifications), and further agrees the dates to execute any other document of attornment required by Landlord's mortgagee. Tenant irrevocably appoints which the Rent has been paid in advance, if any, stating whether or not Landlord as Tenant's attorney-in-fact to execute and deliver is in default in the name keeping or performance of Tenant any covenant, agreement, term, provision or condition contained in this Lease and, if so, specifying each such instrument default, and stating such other matters as Landlord shall reasonably request, it being intended that such statement may be relied upon by Landlord and any prospective purchaser, lessee, mortgagee or instruments in assignee of any mortgage of the event that Tenant Center or of the Landlord’s interest therein. If Xxxxxx fails to so deliver said instrument or instruments such written statement to Landlord within ten (10) days after written demand from Landlord. Tenant agrees that it such 20 days, then such failure shall not undertake any act which will cause a lien to be filed against the subject property, and Tenant acknowledges that it has no power to encumber or cloud Landlord's title. Tenant further agrees that if, because constitute an Event of any act or omission of Tenant, any mechanic's lien or other lien, charge, or order for the payment of money shall be filed against Tenant or any portion of the Premises, or upon the right, title, and interest of Tenant created by this Lease, Tenant shall, at its own cost and expense, cause the same to be discharged of record or bonded within fifteen (15) days after written notice by Landlord to Tenant of the filing thereof; and Tenant hereby agrees to indemnify and hold Landlord harmless against and from all costs, liabilities, suits, penalties, claims, and demands therefromDefault hereunder.