Common use of Grant Liens Clause in Contracts

Grant Liens. This Lease shall be subordinate to the right, title, and interest of any Facility Mortgagee. Tenant shall at any time hereafter, on demand of Prime Landlord or the Facility Mortgagee, without expense to Tenant, execute any instruments which may reasonably be required by such party for the purpose of evidencing the subordination of this Lease to the lien or security of such party, so long as such instrument provides that the Facility Mortgagee shall recognize the rights of Tenant under this Lease so long as no Event of Default shall exist and further provided that Tenant’s occupancy and other rights hereunder shall not be disturbed if any such Person takes possession of the Premises through foreclosure proceeding or otherwise. If the holder of any of said instruments or deeds to secure debt shall hereafter succeed to the rights of Landlord under this Lease or to Prime Landlord under the Prime Lease, Tenant shall, at the option of such holder or a purchaser at any foreclosure or sale under power, attorn to and recognize such successor as Tenant’s landlord under this Lease, provided that such attornment shall be conditioned upon the Facility Mortgagee and Landlord executing and delivering to Tenant a commercially reasonable subordination, non-disturbance and attornment agreement. Notwithstanding the foregoing or any other language to the contrary in this Lease, with Landlord’s prior written consent, which shall not be unreasonably withheld, conditioned or delayed, the security interests and liens granted to Landlord in this Section 16.2 or elsewhere in this Agreement shall be subordinated to any first priority security interest granted in connection with accounts receivable financing secured by Tenant so long as (a) Tenant’s financiers execute an intercreditor agreement with the Facility Mortgagee in form and substance reasonably acceptable to Facility Mortgagee, and (b) no Event of Default exists hereunder.