Common use of Lease Subordinate Clause in Contracts

Lease Subordinate. This Lease shall be subject and subordinate to the lien of any and all Mortgages and to any Ground Leases, and any and all renewals, extensions, modifications, recastings and refinancings thereof. This clause shall be self-operative, without execution of any further instrument; but if requested by Landlord or any Mortgagee, Tenant shall promptly execute a certificate or other document evidencing and providing for such subordination. Landlord shall have the right to execute said document on behalf of Tenant if Tenant fails to do so within ten (10) business days after receipt of the request. Tenant agrees that, if any Mortgage is foreclosed or Ground Lease terminated, upon request by the purchaser at the foreclosure sale or Ground Lessor, as the case may be, Tenant shall attorn to and recognize the purchaser or Ground Lessor as the landlord under this Lease and shall make all payments required hereunder to such new landlord without any deduction or set-off of any kind whatsoever. Tenant waives the provisions of any Laws, now or hereafter in effect, which may give or purport to give Tenant any right to terminate or otherwise affect this Lease or the obligations of Tenant hereunder in the event that any such foreclosure, termination or other proceeding is filed, prosecuted or completed. Notwithstanding anything herein to the contrary, any Mortgagee may at any time subordinate the lien of its Mortgage to the operation and effect of this Lease without Tenant's consent, by giving Tenant written notice of such subordination, in which event this Lease shall be deemed to be senior to such Mortgage, and thereafter such Mortgagee shall have the same rights as it would have had if this Lease had been executed, delivered and recorded before said Mortgage.

Appears in 2 contracts

Samples: Office Lease (Cellular Biomedicine Group, Inc.), Office Lease (Cellular Biomedicine Group, Inc.)

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Lease Subordinate. (a) This Lease shall be subject and subordinate to the lien of any each and all Mortgages every Superior Lease and to any Ground Leases, each and any and all renewals, extensions, modifications, recastings and refinancings thereofevery Mortgage. This clause shall be self-operative, without execution operative and no further instrument of subordination shall be required from Tenant to make the interest of any further instrumentLessor or Mortgagee superior to the interest of Tenant hereunder; but if requested by Landlord or any Mortgageehowever, Tenant shall execute and deliver promptly execute a certificate an instrument, in recordable form, that Landlord, any Mortgagee or other document evidencing Lessor reasonably may request to evidence and providing for confirm such subordination. Tenant shall not knowingly do anything that would constitute a default under any Superior Lease or Mortgage, or knowingly omit to do anything that Tenant is obligated to do under the terms of this Lease so as to cause Landlord to be in default thereunder. If, in connection with the financing of the Real Property, the Building or the interest of the lessee under any Superior Lease, or if in connection with the entering into of a Superior Lease, any lending institution or Lessor shall have request reasonable modifications of this Lease that do not increase Tenant's monetary obligations under this Lease, or adversely affect or diminish the right to execute said document on behalf rights, or increase the other obligations of Tenant if Tenant fails to do so within ten (10) business days after receipt of the request. Tenant agrees that, if any Mortgage is foreclosed or Ground Lease terminated, upon request by the purchaser at the foreclosure sale or Ground Lessor, as the case may beunder this Lease, Tenant shall attorn to and recognize the purchaser or Ground Lessor as the landlord under this Lease and shall make all payments required hereunder to such new landlord without any deduction or set-off modifications. A requirement that Tenant give notice of any kind whatsoever. Tenant waives default on the provisions part of Landlord to any Laws, now Mortgagee or hereafter in effect, which may give or purport Lessor and a reasonable opportunity to give Tenant any right cure such default shall not be deemed to terminate or otherwise affect this Lease or increase the obligations of Tenant hereunder in the event that any such foreclosure, termination or other proceeding is filed, prosecuted or completed. Notwithstanding anything herein to the contrary, any Mortgagee may at any time subordinate the lien of its Mortgage to the operation and effect of under this Lease without Tenant's consent, by giving Tenant written notice of such subordination, in which event this Lease shall be deemed to be senior to such Mortgage, and thereafter such Mortgagee shall have the same rights as it would have had if this Lease had been executed, delivered and recorded before said MortgageLease.

Appears in 2 contracts

Samples: Office Lease (Tufin Software Technologies Ltd.), Office Lease (Tufin Software Technologies Ltd.)

Lease Subordinate. This Lease shall be subject and subordinate to any Mortgage now or hereafter encumbering the lien of Premises or any and all Mortgages portion thereof and to any Ground Leasesall advances thereunder, provided the Tenant and any and all renewals, extensions, modifications, recastings and refinancings thereof. This clause shall be self-operative, without execution of any further instrument; but if requested by Landlord or any Mortgagee, Tenant shall promptly execute a certificate or other document evidencing and providing for such subordination. Landlord the Mortgagee shall have the right entered into a subordination, nondisturbance and attornment agreement in such form and containing such terms and conditions reasonably acceptable to execute said document on behalf of Tenant if Tenant fails Tenant, pursuant to do so within ten (10) business days after receipt of the request. Tenant which a Mortgagee agrees that, if any Mortgage is foreclosed or Ground Lease terminated, upon request by the purchaser at the foreclosure sale or Ground Lessor, as the case may be, Tenant shall attorn to and recognize the purchaser or Ground Lessor as the landlord Tenant’s rights under this Lease and that Tenant shall make all payments required hereunder to such new landlord without any deduction or set-off not be disturbed in its possession of the Premises upon exercise of any kind whatsoeverrights under the Mortgage (including, but not limited to, foreclosure or conveyance by a deed in lieu of foreclosure), provided no Event of Default is then outstanding. Tenant waives the provisions of any Laws, now or hereafter in effect, which may give or purport to give Tenant any right to terminate or otherwise affect this Lease or the obligations of Tenant hereunder in In the event that the Mortgagee or any such foreclosure, termination purchaser at a foreclosure sale or other proceeding is filed, prosecuted or completed. Notwithstanding anything herein otherwise (a “Successor”) shall succeed to the contraryinterest of Landlord, any then Tenant shall and does hereby agree to attorn to such Successor and to recognize such Successor as its Landlord. Landlord shall obtain and deliver to Tenant on the Commencement Date, as a condition to the effectiveness of the subordination of this Lease, a duly executed, acknowledged and recordable subordination, nondisturbance and attornment agreement from Landlord’s mortgagee in the form attached hereto as Exhibit E. Notwithstanding the foregoing, a Mortgagee may at any time its election subordinate the lien of its Mortgage to the operation and effect of this Lease without the consent or approval of Tenant's consent, by giving Tenant written notice of . Any such subordination, in Mortgage to which event this Lease shall be deemed to be senior to subordinate may contain such Mortgageterms, provisions and thereafter such conditions as the Mortgagee shall have the same rights as it would have had if this Lease had been executed, delivered and recorded before said Mortgagereasonably deems usual or customary.

Appears in 2 contracts

Samples: Lease (Mercury Computer Systems Inc), Lease (Mercury Computer Systems Inc)

Lease Subordinate. This Subject to Sections 22.C. and 22.D. below, this Lease shall be is automatically and unconditionally subject and subordinate to the lien of any and all first-lien Mortgages and to any Ground Leases, and any and all renewals, extensions, modifications, recastings and refinancings thereof. This clause shall be self-operative, without execution of any further instrument; but if requested by Landlord or any first-lien Mortgagee, Tenant shall promptly execute a certificate or other document evidencing and providing for such subordination. Landlord shall have the right to execute said document on behalf of Tenant if Tenant fails to do so within ten (10) business days after receipt of the request. Tenant agrees that, if any Mortgage is foreclosed or Ground Lease terminated, upon request by the purchaser at the foreclosure sale or Ground Lessor, as the case may be, Tenant shall attorn to and recognize the purchaser or Ground Lessor as the landlord under this Lease and shall make all payments required hereunder to such new landlord without any deduction or set-off of any kind whatsoever. Tenant waives the provisions of any Laws, now or hereafter in effect, which may give or purport to give Tenant any right to terminate or otherwise affect this Lease or the obligations of Tenant hereunder in the event that any such foreclosure, termination or other proceeding is filed, prosecuted or completed. Notwithstanding anything herein to the contrary, any Mortgagee may at any time subordinate the lien of its Mortgage to the operation and effect of this Lease without Tenant's ’s consent, by giving Tenant written notice of such subordination, in which event this Lease shall be deemed to be senior to such Mortgage, and thereafter such Mortgagee shall have the same rights as it would have had if this Lease had been executed, delivered and recorded before said Mortgage.

Appears in 2 contracts

Samples: Evolent Health, Inc., Evolent Health, Inc.

Lease Subordinate. This Lease At Landlord's election, this Lease, and all rights of Tenant hereunder, shall be subject and subordinate to all mortgages and/or ground leases which may now or hereafter affect the lien of any Property whether or not such mortgages or leases shall also cover other lands and/or buildings, to each and all Mortgages every advance made or hereafter to be made under such mortgages, and to any Ground Leases, and any and all renewals, extensions, modifications, recastings replacements and refinancings thereof. This clause extensions of such mortgages and leases and all consolidations of such mortgages, provided that, with respect to any such mortgage or lease hereafter placed on the Property, Landlord shall deliver to Tenant an agreement, in form and substance reasonably acceptable to such holder or lessor and Tenant, by such holder or lessor to the effect that, subject to qualifications of the type set forth in the second sentence of paragraph (b) hereof, all of Tenant's rights hereunder shall be self-operativerecognized by such holder or lessor. Such subordination shall be automatic and without need for any additional action or documentation. Without derogating from the foregoing, without execution in confirmation of any further instrument; but if requested by Landlord or any Mortgageesuch subordination, and subject to the foregoing condition, Tenant shall promptly execute a certificate execute, acknowledge and deliver any instrument that Landlord, the holder of any such mortgage or other document evidencing and providing for the lessor under any such lease or any of their respective successors in interest may reasonably request to evidence such subordination. Landlord shall have agrees to request the right to execute said document on behalf of Tenant if Tenant fails to do so within ten (10) business days after receipt holder of the request. Tenant agrees existing mortgage on the Property to deliver an agreement, in form and substance acceptable to such holder, by such holder to the effect that, if subject to the qualifications of the type set forth in the second sentence of paragraph (b) hereof, that such holder recognizes all of Tenant's rights hereunder provided that Tenant is not in default (beyond any applicable notice and grace period) of any of the terms, provisions, covenants, agreements and conditions to be observed, performed and complied with by Tenant under this Lease. Any mortgage to which this Lease is, at the time referred to, subject and subordinate, is herein called "Superior Mortgage" and the holder of a Superior Mortgage is foreclosed or Ground herein called "Superior Mortgagee"; and any lease to which this Lease terminatedis, upon request by the purchaser at the foreclosure sale or Ground Lessortime referred to, as subject and subordinate is herein called "Superior Lease" and the case may be, Tenant shall attorn to and recognize the purchaser or Ground Lessor as the landlord under this Lease and shall make all payments required hereunder to such new landlord without any deduction or set-off lessor of any kind whatsoever. Tenant waives the provisions of any Laws, now or hereafter in effect, which may give or purport to give Tenant any right to terminate or otherwise affect this a Superior Lease or its successor in interest, at the obligations of Tenant hereunder in the event that any such foreclosuretime referred to, termination or other proceeding is filed, prosecuted or completed. Notwithstanding anything herein to the contrary, any Mortgagee may at any time subordinate the lien of its Mortgage to the operation and effect of this Lease without Tenant's consent, by giving Tenant written notice of such subordination, in which event this Lease shall be deemed to be senior to such Mortgage, and thereafter such Mortgagee shall have the same rights as it would have had if this Lease had been executed, delivered and recorded before said Mortgagecalled "Superior Lessor".

Appears in 2 contracts

Samples: Aquila Biopharmaceuticals Inc, Aquila Biopharmaceuticals Inc

Lease Subordinate. This Lease shall be subject and subordinate to the lien of any and all Mortgages and to any Ground Leases, and any and all renewals, extensions, modifications, recastings and refinancings thereof. This clause shall be self-operative, without execution of any further instrument; but if requested by Landlord or any Mortgagee, Tenant shall promptly execute a certificate or other document evidencing and providing for such subordination. Landlord shall have the right to execute said document on behalf of Tenant if Tenant fails to do so within ten five (105) business days after receipt of the request. Tenant agrees that, if any Mortgage is foreclosed or Ground Lease terminated, upon request by the purchaser at the foreclosure sale or Ground Lessor, as the case may be, Tenant shall attorn to and recognize the purchaser or Ground Lessor as the landlord under this Lease and shall make all payments required hereunder to such new landlord without any deduction or set-off of any kind whatsoever. Tenant waives the provisions of any Lawslaw or regulation, now or hereafter in effect, which may give or purport to give Tenant any right to terminate or otherwise affect this Lease or the obligations of Tenant hereunder in the event that any such foreclosure, termination or other proceeding is filed, prosecuted or completed. Notwithstanding anything herein to the contrary, any Mortgagee may at any time subordinate the lien of its Mortgage to the operation and effect of this Lease without Tenant's consent, by giving Tenant written notice of such subordination, in which event this Lease shall be deemed to be senior to such Mortgage, and thereafter such Mortgagee shall have the same rights as it would have had if this Lease had been executed, delivered and recorded before said Mortgage.

Appears in 1 contract

Samples: Office Lease (Genvec Inc)

Lease Subordinate. This Lease shall be subject and subordinate to any mortgage now or hereafter on the lien of any Property or Building, or both, which are separately and all Mortgages together hereinafter in this Article IX referred to as "the mortgaged premises", and to each advance made or hereafter to be made under any Ground Leasesmortgage, and any and to all renewals, extensions, modifications, recastings consolidation, replacements and refinancings thereofextensions thereof and all substitutions therefor. This clause In the event of acquisition of title by the holder of a mortgage through foreclosure proceedings or otherwise (or by anyone purchasing the Premises at any foreclosure sale), Tenant agrees to recognize the title holder as "Landlord", and upon Landlord's request shall be self-operative, without execution enter into an agreement with the holder of any further instrument; but if requested by Landlord current or future mortgage to that effect, which agreement shall expressly bind and inure to the benefit of the successors and assigns of Tenant and of the holder and upon anyone purchasing the Premises at any Mortgagee, Tenant shall promptly execute a certificate or other document evidencing and providing for such subordinationforeclosure sale. Landlord shall have request that the right holder or any current or future mortgage enter into an agreement with Tenant by the terms of which such holder will agree to execute said document on behalf recognize the rights of Tenant if Tenant fails to do so within ten (10) business days after receipt of the request. Tenant agrees that, if any Mortgage is foreclosed or Ground Lease terminated, upon request by the purchaser at the foreclosure sale or Ground Lessor, as the case may be, Tenant shall attorn to and recognize the purchaser or Ground Lessor as the landlord under this Lease and to accept Tenant as "tenant" of the Premises under the terms and conditions of this Lease in the event of acquisition of title by such holder through foreclosure proceedings or otherwise (or by anyone purchasing the Premises at any foreclosure sale), provided, however, that such holder (or by anyone purchasing the Premises at any foreclosure sale) shall make all payments required hereunder not: (i) be liable for any previous act or omission of Landlord under this Lease; (ii) be subject to any offset, defense or counterclaim which shall theretofore have accrued to Tenant against Landlord; (iii) have any obligation with respect to any security deposit unless it shall have been paid over or physically delivered to such new landlord without successor; or (iv) be bound by any deduction or set-off previous modification of any kind whatsoever. Tenant waives the provisions of any Laws, now or hereafter in effect, which may give or purport to give Tenant any right to terminate or otherwise affect this Lease or by any previous payment of Annual Fixed Rent for a period greater than one (1) month, made without the obligations consent of Tenant hereunder in such holder where such consent is required by the event that applicable instrument. Notwithstanding the foregoing any such foreclosure, termination or other proceeding is filed, prosecuted or completed. Notwithstanding anything herein to the contrary, any Mortgagee holder may at any time subordinate the lien of its Mortgage to the operation and effect of this Lease without Tenant's consent, by giving Tenant written notice of such subordination, in which event this Lease shall be deemed to be senior to such Mortgage, and thereafter such Mortgagee shall have the same rights as it would have had if this Lease had been executed, delivered and recorded before said Mortgage.election

Appears in 1 contract

Samples: Eroom Technology Inc

Lease Subordinate. This Lease shall be subject and subordinate to any mortgage, deed of trust or ground lease now encumbering the Premises, the Office Complex, the Property, or any portion thereof by Landlord, its successors or assigns. The foregoing subordination shall be effective without the necessity of the execution and delivery of any further instruments on the part of Tenant to effectuate such subordination. Provided Tenant receives a non-disturbance agreement substantially in the form attached hereto as Exhibit C, this Lease shall be further subject and subordinate to any future mortgages, deeds of trust or ground leases and any amendments, replacements, renewals and extensions thereof. Tenant agrees at any time hereafter, within fifteen (15) days following demand, to execute and deliver any instruments, releases, or other documents that may be reasonably required for the purpose of subjecting and subordinating this Lease, as above provided, to the lien of any and all Mortgages and such mortgage, deed of trust or ground lease, provided such documents shall be reasonably acceptable to any Ground LeasesTenant. It is agreed, nevertheless, that as long as Tenant is not in default in the payment of Base Rent, Additional Rent, and any the payment of other charges to be paid by Tenant under this Lease, and the performance of all renewalscovenants, extensions, modifications, recastings agreements and refinancings thereof. This clause shall conditions to be self-operative, without execution of any further instrument; but if requested performed by Landlord or any Mortgagee, Tenant shall promptly execute a certificate or other document evidencing and providing for such subordination. Landlord shall have the right to execute said document on behalf of Tenant if Tenant fails to do so within ten (10) business days after receipt of the request. Tenant agrees that, if any Mortgage is foreclosed or Ground Lease terminated, upon request by the purchaser at the foreclosure sale or Ground Lessor, as the case may be, Tenant shall attorn to and recognize the purchaser or Ground Lessor as the landlord under this Lease beyond any applicable notice and shall make all payments required hereunder to such new landlord without any deduction or set-off of any kind whatsoever. Tenant waives the provisions of any Lawscure period, now or hereafter in effect, which may give or purport to give Tenant any then neither Tenant's right to terminate or otherwise affect quiet enjoyment under this Lease or Lease, nor the obligations right of Tenant hereunder to continue to occupy the Premises and to conduct its business thereon, in accordance with the event that any such foreclosure, termination or other proceeding is filed, prosecuted or completed. Notwithstanding anything herein to the contrary, any Mortgagee may at any time subordinate the lien of its Mortgage to the operation and effect terms of this Lease without Tenant's consentas against any Landlord, by giving Tenant written notice of such subordinationmortgagee, in which event this Lease trustee, or their successors or assigns shall be deemed to be senior to such Mortgage, and thereafter such Mortgagee shall have the same rights as it would have had if this Lease had been executed, delivered and recorded before said Mortgageinterfered with.

Appears in 1 contract

Samples: Stanford Telecommunications Inc

Lease Subordinate. This Lease shall be subject and subordinate to the lien of any and all Mortgages and to any Ground Leases, and any and all renewals, extensions, modifications, recastings and refinancings thereof. This clause shall be self-operative, without execution of any further instrument; but if requested by Landlord or any Mortgagee, Tenant shall promptly execute a certificate or other document evidencing and providing for such subordination. Landlord shall have the right to execute said document on behalf of Tenant if Tenant Xxxxxx fails to do so within ten five (105) business days after receipt of the request. Tenant agrees that, if any Mortgage is foreclosed or Ground Lease terminated, upon request by the purchaser at the foreclosure sale or Ground Lessor, as the case may be, Tenant shall attorn to and recognize the purchaser or Ground Lessor as the landlord under this Lease and shall make all payments required hereunder to such new landlord without any deduction or set-off of any kind whatsoever. Tenant waives the provisions of any Lawslaw or regulation, now or hereafter in effect, which may give or purport to give Tenant any right to terminate or otherwise affect this Lease or the obligations of Tenant hereunder in the event that any such foreclosure, termination or other proceeding is filed, prosecuted or completed. Notwithstanding anything herein to the contrary, any Mortgagee may at any time subordinate the lien of its Mortgage to the operation and effect of this Lease without Tenant's consent, by giving Tenant written notice of such subordination, in which event this Lease shall be deemed to be senior to such Mortgage, and thereafter such Mortgagee shall have the same rights as it would have had if this Lease had been executed, delivered and recorded before said Mortgage. Landlord shall obtain from any current Mortgagee or Ground Lessor a non-disturbance agreement for the benefit of Tenant in such Mortagee's or Ground Lessor's, as the case may be, usual form; provided, however, that Tenant shall pay all costs incurred by Landlord which are imposed by such Mortgagee or Ground Lessor, as the case may be, with respect to such non-disturbance agreement. Furthermore, Landlord shall obtain from any future Mortgagee or Ground Lessor a non-disturbance agreement for the benefit of Tenant in such Mortgagee's or Ground Lessor's, as the case may be, usual form; provided, however, that (i) Tenant shall pay all costs incurred by Landlord which are imposed by such Mortagee or Ground Lessor, as the case may be, with respect to such non-disturbance agreement, and (ii) in the event that either (A) Tenant's net worth is not equal to at least fifty percent (50%) of Tenant's net worth as shown on Exhibit H attached hereto and made a part hereof, or (B) Tenant's creditworthiness is not then greater than or equal to, in Landlord's sole and absolute discretion, Xxxxxx's creditworthiness as shown on said Exhibit H, Landlord shall not have any obligation to obtain such non-disturbance agreement; provided, however, that even in such circumstance(s), Landlord shall nevertheless use commercially reasonable efforts to obtain such non-disturbance agreement.

Appears in 1 contract

Samples: Equinix Inc

Lease Subordinate. This Lease shall be subject and subordinate to the lien of any and all Mortgages and to any Ground Leases, and any and all renewals, extensions, modifications, recastings and refinancings thereof. This clause shall be self-operative, without execution of any further instrument; but if requested by Landlord or any Mortgagee, Tenant shall promptly execute a certificate or other document evidencing and providing for such subordination. Landlord shall have the right to execute said document on behalf of Tenant if Tenant fails to do so within ten (1000) business days after receipt of the request. Tenant agrees that, if any Mortgage is foreclosed or Ground Lease terminated, upon request by the purchaser at the foreclosure sale or Ground Lessor, as the case may be, Tenant shall attorn to and recognize the purchaser or Ground Lessor as the landlord under this Lease and shall make all payments required hereunder to such new landlord without any deduction or set-off of any kind whatsoever. Tenant waives the provisions of any Lawslaw or regulation, now or hereafter in effect, which may give or purport to give Tenant any right to terminate or otherwise affect this Lease or the obligations of Tenant hereunder in the event that any such foreclosure, termination or other proceeding is filed, prosecuted or completed. Notwithstanding anything herein to the contrary, any Mortgagee may at any time subordinate the lien of its Mortgage to the operation and effect of this Lease without Tenant's consent, by giving Tenant written notice of such subordination, in which event this Lease shall be deemed to be senior to such Mortgage, and thereafter such Mortgagee shall have the same rights as it would have had if this Lease had been executed, delivered and recorded before said Mortgage. Landlord shall use reasonable efforts to obtain from any Mortgagee or Ground Lessor a non-disturbance agreement for the benefit of Tenant in such Mortgagee's or Ground Lessor's, as the case may be, usual form; provided, however, that (i) Tenant shall pay all costs incurred by Landlord which are imposed by such Mortgagee or Ground Lessor, as the case may be, with respect to such non-disturbance agreement and (ii) in the event that Landlord does not obtain such non-disturbance agreement, this Lease shall be and remain subject and subordinate to the lien of said Mortgage or Ground Lease, as the case may be, and to any and all renewals, extensions, modifications, recastings and refinancings thereof.

Appears in 1 contract

Samples: Eplus Inc

Lease Subordinate. This Lease shall be subject and subordinate to any mortgage, deed of trust or ground lease now encumbering the Premises, the Office Complex, the Property, or any portion thereof by Landlord, its successors or assigns. The foregoing subordination shall be effective without the necessity of the execution and delivery of any further instruments on the part of Tenant to effectuate such subordination. Provided Tenant receives a non-disturbance agreement substantially in the form attached hereto as Exhibit C, this Lease shall be further subject and subordinate to any future mortgages, deeds of trust or ground leases and any amendments, replacements, renewals and extensions thereof. Tenant agrees at any time hereafter, within fifteen (15) days following demand, to execute and deliver any instruments, releases, or other documents that may be reasonably required for the purpose of subjecting and subordinating this Lease, as above provided, to the lien of any and all Mortgages and such mortgage, deed of trust or ground lease, provided such documents shall be reasonably acceptable to any Ground LeasesTenant. It is agreed, nevertheless, that as long as Tenant is not in default in the payment of Base Rent, Additional Rent, and any the payment of other charges to be paid by Tenant under this Lease, and the performance of all renewalscovenants, extensions, modifications, recastings agreements and refinancings thereof. This clause shall conditions to be self-operative, without execution of any further instrument; but if requested performed by Landlord or any Mortgagee, Tenant shall promptly execute a certificate or other document evidencing and providing for such subordination. Landlord shall have the right to execute said document on behalf of Tenant if Tenant fails to do so within ten (10) business days after receipt of the request. Tenant agrees that, if any Mortgage is foreclosed or Ground Lease terminated, upon request by the purchaser at the foreclosure sale or Ground Lessor, as the case may be, Tenant shall attorn to and recognize the purchaser or Ground Lessor as the landlord under this Lease beyond any applicable notice and shall make all payments required hereunder to such new landlord without any deduction or set-off of any kind whatsoever. Tenant waives the provisions of any Lawscure period, now or hereafter in effect, which may give or purport to give Tenant any then neither Tenant's right to terminate or otherwise affect quiet enjoyment under this Lease or Lease, nor the obligations right of Tenant hereunder to continue to occupy the Premises and to conduct its business thereon, in accordance with the event that any such foreclosure, termination or other proceeding is filed, prosecuted or completed. Notwithstanding anything herein to the contrary, any Mortgagee may at any time subordinate the lien of its Mortgage to the operation and effect terms of this Lease without as against any Landlord, Tenant's consent, by giving Tenant written notice of such subordinationmortgagee, in which event this Lease trustee, or their successors or assigns shall be deemed to be senior to such Mortgage, and thereafter such Mortgagee shall have the same rights as it would have had if this Lease had been executed, delivered and recorded before said Mortgageinterfered with.

Appears in 1 contract

Samples: Deed of Lease (Coherent Communications Systems Corp)

Lease Subordinate. This Subject to the terms of this Section 22, this Lease shall be subject and subordinate to the lien of any and all Mortgages first lien Mortgage and to any first priority Ground LeasesLease which encumbers the Building and the Land, and any and all renewals, extensions, modifications, recastings and refinancings thereof. This clause In the event Landlord delivers to Tenant a subordination, attornment and non-disturbance agreement required under the following terms of this Section, fully executed by Landlord and the subject Mortgagee or Ground Lease, as the case may be, with signatures acknowledged, and Tenant fails to execute and deliver same to Landlord, then: (i) this Lease shall be self-operativesubordinate to the lien of the subject Mortgage or Ground Lease, without execution of any further instrument; but (ii) if requested by Landlord or any Mortgagee, Tenant shall promptly execute a certificate or other document evidencing and providing for such subordination. Landlord shall have the right to execute said document on behalf of Tenant if Tenant fails to do so within ten (10) business days after receipt of the request. Tenant agrees that, if any subject Mortgage is foreclosed or Ground Lease is terminated, upon request by the purchaser at the foreclosure sale or Ground Lessor, as the case may be, Tenant shall attorn to and recognize the purchaser or Ground Lessor as the landlord under this Lease and shall make all payments required hereunder to such new landlord without any deduction or set-off of any kind whatsoever. landlord; and (iii) Tenant waives shall be deemed to have waived the provisions of any Laws, Law now or hereafter in effect, which may give or purport to give Tenant any a right to terminate or otherwise affect this Lease or the obligations of Tenant hereunder in the event that with respect to any such foreclosure, termination or other proceeding is filed, prosecuted or completed. Notwithstanding anything herein to the contrary, any Mortgagee may at any time subordinate the lien of its Mortgage to the operation and effect of this Lease without Tenant's ’s consent, by giving Tenant written notice of such subordination, in which event this Lease shall be deemed to be senior to such Mortgage, and thereafter such Mortgagee shall have the same rights as it would have had if this Lease had been executed, delivered and recorded before said Mortgage. The subordination of this Lease to any Mortgage or Ground Lease is subject to the condition that Tenant shall not be named or joined in any action or proceeding to foreclose any such Mortgage to terminate any such Ground Lease. Notwithstanding the foregoing, in consideration of, and as a condition precedent to, the subordination of this Lease to any first lien Mortgage or first priority Ground Lease and Tenant’s agreement to be bound by the terms of this Section 22.A: (a) Landlord shall obtain from the holder of the existing Mortgage which encumbers the Building and the Land, and each Mortgagee that places a lien on the Building and the Land prior to the execution and delivery of this Lease, a non-disturbance agreement for the benefit of Tenant in the form which is attached hereto as Exhibit F and made part hereof, and (b) with respect to all future Mortgages and future Ground Leases on the Building, the Land or both, Landlord shall obtain from the holder of the same a non-disturbance agreement for the benefit of Tenant which shall be in the form which is attached hereto as Exhibit F or in other commercially reasonable form which includes the substantive terms of Exhibit F attached hereto or terms which are substantively equivalent, except that, solely with respect to (i) insurance proceeds in excess of Three Million Dollars ($3,000,000.00) and (ii) any condemnation proceeds, a provision which is the substantive equivalent of Paragraph FIRST in Exhibit F may also provide that the Lease shall be subject to the terms of the Security Instrument (as defined in said Exhibit F) securing a loan by a first lien priority Mortgagee (a “First Mortgagee”) with respect to such First Mortgagee’s right set forth in the Security Instrument to determine whether any such insurance proceeds or condemnation proceeds shall be applied to the repayment of the loan which is secured by the subject Security Instrument, or shall be applied to the cost of restoration of the Building, or both, and, if both, then in what proportion such amount shall be allocable, but such First Mortgagee’s right shall not include the right to disburse or authorize the disbursement of any such proceeds to Landlord unless Landlord has fulfilled its obligations under Sections 16 or 18, as applicable, of this Lease. All non-disturbance agreements delivered to Tenant shall have an express acknowledgement by the parties thereunder of all rights of Tenant under this Lease to offset and deduct amounts owing by Landlord to Tenant against Rent payable by Tenant under this Lease to the extent provided herein, including, without limitation, the amounts of any portion of the Improvement Allowance and other inducements, if any, payable to Tenant to the extent Landlord fails to timely pay the subject amounts to Tenant, all together with interest accrued thereon at the Default Rate.

Appears in 1 contract

Samples: Deed of Lease (Watson Wyatt & Co Holdings)

Lease Subordinate. This Lease shall be subject and subordinate to any mortgage, deed of trust or ground lease hereafter placed upon the lien of Premises, the Building, the Office Complex, the Property, or any portion thereof, by Landlord, and all Mortgages its successors or assigns, and to any Ground Leasesamendments, replacements, renewals and extensions thereof, provided that Landlord has caused the applicable Mortgagee (as defined below) to execute and deliver a subordination, non-disturbance and attornment agreement, in form and substance reasonably acceptable to Landlord, Tenant and such Mortgagee with respect to the applicable mortgage, deed of trust or ground lease (and Tenant agrees to execute and deliver the same, at no out-of-pocket cost to Tenant). Any such subordination, non-disturbance and attornment agreement shall provide that, as long as Tenant is not in Default in the payment of Base Rent, Additional Rent, and any the payment of other charges to be paid by Tenant under this Lease, and the performance of all renewalscovenants, extensions, modifications, recastings agreements and refinancings thereof. This clause shall conditions to be self-operative, without execution of any further instrument; but if requested performed by Landlord or any Mortgagee, Tenant shall promptly execute a certificate or other document evidencing and providing for such subordination. Landlord shall have the right to execute said document on behalf of Tenant if Tenant fails to do so within ten (10) business days after receipt of the request. Tenant agrees that, if any Mortgage is foreclosed or Ground Lease terminated, upon request by the purchaser at the foreclosure sale or Ground Lessor, as the case may be, Tenant shall attorn to and recognize the purchaser or Ground Lessor as the landlord under this Lease and shall make all payments required hereunder (subject to such new landlord without any deduction or set-off of any kind whatsoever. Tenant waives the provisions of any LawsLandlord’s obligations under Section 16.22 hereof), now or hereafter in effect, which may give or purport to give Tenant any then there will be no interference with Tenant’s right to terminate quiet enjoyment under this Lease, or otherwise affect this Lease or with the obligations right of Tenant hereunder to continue to occupy the Premises and to conduct its business thereon, in accordance with the event that any such foreclosure, termination or other proceeding is filed, prosecuted or completed. Notwithstanding anything herein to the contrary, any Mortgagee may at any time subordinate the lien of its Mortgage to the operation and effect terms of this Lease without Tenant's consentas against any lessor, by giving lessee, mortgagee or trustee, or their respective successors or assigns. Landlord hereby represents to Tenant written notice that, as of such subordinationthe date of this Lease, in which event this Lease shall be deemed the fee estate of the Property is not subject to be senior to such Mortgage, and thereafter such Mortgagee shall have the same rights as it would have had if this Lease had been executed, delivered and recorded before said Mortgageany mortgage lien.

Appears in 1 contract

Samples: Office Lease (Depomed Inc)

Lease Subordinate. This Provided that Tenant receives the SNDA in accordance with the terms set forth in this Section 22, this Lease shall be is subject and subordinate to the lien of any and all Mortgages and to any Ground Leases, and any and all renewals, extensions, modifications, recastings and refinancings thereof. This Upon receipt of the SNDA in accordance with the terms set forth in this Section 22, this clause shall be self-operative, without execution of any further instrument; but if requested by Landlord or any Mortgagee, Tenant shall promptly execute a certificate or other document evidencing and providing for such subordination. Landlord shall have the right to execute said document on behalf of Tenant if Tenant fails to do so within ten five (105) business days after receipt of the request. In accordance with the terms of the SNDA, Tenant agrees that, if any Mortgage is foreclosed or Ground Lease terminated, upon request by the purchaser at the foreclosure sale or Ground Lessor, as the case may be, Tenant shall attorn to and recognize the purchaser or Ground Lessor as the landlord under this Lease and shall make all payments required hereunder to such new landlord without any deduction or set-off of any kind whatsoever. Subject to receipt of the SNDA, Tenant waives the provisions of any Laws, now or hereafter in effect, which may give or purport to give Tenant any right to terminate or otherwise affect this Lease or the obligations of Tenant hereunder in the event that any such foreclosure, termination or other proceeding is filed, prosecuted or completed. Notwithstanding anything herein to the contrary, any Mortgagee may at any time subordinate the lien of its Mortgage to the operation and effect of this Lease without Tenant's consent, by giving Tenant written notice of such subordination, in which event this Lease shall be deemed to be senior to such Mortgage, and thereafter such Mortgagee shall have the same rights as it would have had if this Lease had been executed, delivered and recorded before said Mortgage. Provided that Tenant is not in default hereunder (or, if Tenant is in default, then provided that Tenant cures same within any applicable notice and cure period set forth in this Lease), Landlord shall obtain from any future Mortgagee or Ground Lessor (it being agreed that there is no current Mortgagee or Ground Lessor as of the date of this Lease) a non-disturbance agreement (the “SNDA”) for the benefit of Tenant in such Mortgagee’s or Ground Lessor’s, as the case may be, usual form, which SNDA shall provide, at a minimum, that so long as no Default by Tenant exists under this Lease, in the event of a foreclosure or deed in lieu of foreclosure, such Mortgagee or Ground Lessor (i) shall recognize this Lease and shall agree that the tenancy of Tenant hereunder shall not be disturbed because of such foreclosure or deed in lieu of foreclosure, (ii) shall not reduce Tenant’s rights under this Lease in more than a de minimis manner or expand Tenant’s obligations under this Lease in more than a de minimis manner, except for possibly requiring notices from Tenant to such Mortgagee or Ground Lessor, (iii) specifically recognizes Tenant’s rights set forth in Sections 42 and 43 hereof and Tenant’s rights set forth in the Work Agreement, and (iv) shall not impose on Tenant increased administrative duties which are more than de minimis and which are not typical of similarly situated tenants. Notwithstanding anything to the contrary contained in this Lease, in the event that Landlord does not obtain an SNDA from any future Mortgagee or Ground Lessor, Landlord shall not be in default under this Lease; however, this Lease shall not be subject and subordinate to the lien of said Mortgage or Ground Lease, as the case may be, nor shall Tenant be obligated to attorn to and recognize the purchaser or Ground Lessor, as the case may be, as the landlord under this Lease.

Appears in 1 contract

Samples: Deed of Lease (Novavax Inc)

Lease Subordinate. This Lease shall be subject and subordinate to any ground or underlying lease or leases or any mortgage or mortgages now or hereafter on the Lot or Building, or both, or any portions thereof, which are separately and together hereinafter in this Article IX referred to as "the mortgaged premises", and to each advance made or hereafter to be made under any mortgage(s), and to all renewals, modifications, consolidation, replacements and extensions thereof and all substitutions therefor. Tenant acknowledges that, where applicable, any consent or approval hereafter given by Landlord may be subject to the further consent or approval of the holder of any such mortgage or lessor under any ground or underlying lease; and the failure, delay or refusal of such holder or lessor to give such consent or approval shal1, notwithstanding anything to the contrary in this Lease contained, constitute reasonable justification for Landlord's withholding its consent or approval. Landlord shall obtain from its present mortgagee of the Premises a subordination, non-disturbance and attornment agreement in such mortgagee's standard form, providing that, among other things, for this subordination of this Lease to the lien of such mortgage, providing for the Tenant to attorn to such mortgage or its nominee, designee or successor in the event of any foreclosure of its mortgage. The foregoing subordination as it pertains to mortgages hereafter made (which term includes any agreement modifying any mortgage now in existence or hereafter made) is conditioned upon the agreement of the mortgagee, to be delivered by it to Tenant, wherein the mortgagee agrees in substance that so long as Tenant is not in default beyond any applicable grace period under this Lease or under the agreement with such mortgagee (i) the Tenant will not be disturbed in Tenant's possession of the premises under the terms of the Lease by any holder of the mortgage; (ii) Tenant will not be joined in any action or proceeding to foreclose the mortgage by any holder thereof. The giving of such agreement by the mortgagee may be conditioned by it on the reciprocal agreement by the Tenant to attorn to the holder of the mortgage should it become vested with the Landlord's interest in the Premises. Such agreement may also contain provisions, at the option of the holder of the mortgage to the effect that: In the event that mortgagee succeeds to the interest of Landlord under the Lease, or title to the Premises, then mortgagee and all Mortgages any Successor shall assume and be bound by the obligations of Landlord under the Lease which accrue from and after such party's succession to Landlord's interest in the Leased Premises, but mortgagee such Successor shall not be: (i) liable for any act or omission of any prior landlord (including Landlord), except to the extent that any such act or omission constitutes a default under the Lease which continues after mortgagee or any Successor succeeds to the interest of Landlord under the Lease; (ii) liable for the retention, application or return of any security deposit to the extent not paid over to mortgagee; (iii) subject to any Ground Leasesoffsets or defenses which Tenant might have against any prior landlord (including Landlord); (iv) bound by any rent or additional rent which Tenant might have paid for more than the current month to any prior landlord (including Landlord); (v) bound by any amendment or modification of the Lease made without mortgagee's or such Successor's prior written consent; or (vi) obligated to cure any defaults of any prior landlord under the Lease which occurred prior to the date on which mortgagee or such Successor succeeded to Landlord's interest under the Lease. Tenant will agree that any person or entity which at any time hereafter becomes the landlord under the Lease, including without limitation, mortgagee or any Successor, shall be liable only for the performance of the obligations of the landlord under the Lease which arise or exist during the period of its or their ownership of the Premises and shall not be liable for any obligations of the landlord under the Lease which arise prior to or subsequent to such ownership. Tenant shall further agree that any such liability shall be limited to the interest of mortgagee or such Successor in the Property, and Tenant shall not be able to enforce any such liability against any other assets of mortgagee or such Successor. Tenant will agree to give notice to mortgagee of any default by Landlord under the Lease, specifying the nature of such default, and thereupon mortgagee shall have a reasonable right for a reasonable time (but not the obligation) to cure such default, and (if Tenant is entitled to terminate the Lease or abate any rent payable thereunder by reason of such dxxxxxt) Tenant shall not terminate the Lease or abate the rent payable thereunder by reason of such dxxxxxt unless and until it has afforded mortgagee such time after mortgagee's receipt of such notice to cure such default, including time to pursue foreclosure and obtaining of possession. It is specifically agreed that Tenant shall not require mortgagee to cure any default which is not susceptible of cure by mortgagee. Tenant will covenant and agree that: (i) Tenant shall not pay any rent or additional rent under the Lease more than one month in advance; (ii) Tenant shall have no right to appear in any foreclosure action under the mortgage; (iii) Tenant shall not amend, modify, cancel or terminate the Lease without mortgagee's prior written consent, and any and all renewalsattempted amendment, extensionsmodification, modifications, recastings and refinancings thereof. This clause cancellation or termination of the Lease without such consent shall be self-operative, without execution of any further instrumentno force or effect as to mortgagee; but if requested by Landlord or any Mortgagee, (iv) Tenant shall promptly execute a certificate or other document evidencing and providing for such subordination. Landlord shall have the right to execute said document on behalf of Tenant if Tenant fails to do so within ten (10) business days after receipt of the request. Tenant agrees that, if any Mortgage is foreclosed or Ground Lease terminated, upon request by the purchaser at the foreclosure sale or Ground Lessor, as the case may be, Tenant shall attorn to and recognize the purchaser or Ground Lessor as the landlord under this Lease and shall make all payments required hereunder to such new landlord without any deduction or set-off of any kind whatsoever. Tenant waives the provisions of any Laws, now or hereafter in effect, which may give or purport to give Tenant any right to terminate or otherwise affect this Lease or the obligations of Tenant hereunder in the event that any such foreclosure, termination or other proceeding is filed, prosecuted or completed. Notwithstanding anything herein to the contrary, any Mortgagee may at any time not voluntarily subordinate the Lease to any lien of its Mortgage to or encumbrance (other than the operation and effect of this Lease mortgage) without Tenantmortgagee's prior written consent, by giving Tenant written notice of such subordination, in which event this Lease shall be deemed to be senior to such Mortgage, and thereafter such Mortgagee shall have the same rights as it would have had if this Lease had been executed, delivered and recorded before said Mortgage.

Appears in 1 contract

Samples: Intest Corp

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Lease Subordinate. This Lease shall shall, subject to the terms and conditions of this Lease, be subject and subordinate to the lien of any and all Mortgages and to any Ground LeasesLeases now or hereafter placed upon the Premises, the Building and/or the Land, and any and all renewals, extensions, modifications, recastings and refinancings thereof. This clause Article shall be self-operative, without execution of any further instrument; but if requested by Landlord or any Mortgagee, Tenant shall promptly execute a commercially reasonable certificate or other commercially reasonable document evidencing and providing for such subordination. Landlord Tenant shall have attorn to any lender and any purchaser at a foreclosure sale, such attornment to be self-executing and effective upon acquisition of title to the right to execute said document on behalf of Tenant if Tenant fails to do so within ten (10) business days after receipt Building by any purchaser at a foreclosure sale or by a lender in any manner. This Lease shall not be terminated by foreclosure or any other transfer of the requestBuilding and/or the Land. After a foreclosure sale of the Building and/or the Land, lender or any other purchaser at such foreclosure sale may, at lender’s or such purchaser’s option, accept or terminate this Lease. Tenant agrees that, if any Mortgage is foreclosed or Ground Lease terminated, upon request by the purchaser at the foreclosure sale or Ground Lessor, as the case may be, Tenant shall attorn to and recognize the purchaser or Ground Lessor as the landlord under this Lease and shall make all payments required hereunder to such new landlord without any deduction or set-off of any kind whatsoeverwhatsoever except as specifically provided for in this Lease. Tenant waives the provisions of any Applicable Laws, now or hereafter in effect, which may give or purport to give Tenant any right to terminate or otherwise affect this Lease or the obligations of Tenant hereunder in the event that any such foreclosure, termination or other proceeding is filed, prosecuted or completed. Notwithstanding anything herein to the contrary, any Mortgagee may at any time subordinate the lien of its Mortgage to the operation and effect of this Lease without Tenant's ’s consent, by giving Tenant written notice of such subordination, in which event this Lease shall be deemed to be senior to such Mortgage, and thereafter such Mortgagee shall have the same rights as it would have had if this Lease had been executed, delivered and recorded before said Mortgage.

Appears in 1 contract

Samples: Lease Agreement (Gsi Technology Inc)

Lease Subordinate. This At Landlord’s election, this Lease shall be subject and subordinate to any mortgage now or hereafter on the Lot or Building, or both, which are separately and together hereinafter in this Section 12.2 referred to as “the mortgaged premises”, and to each advance made or hereafter to be made under any mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor. This Section 12.2 shall be self-operative and no further instrument of subordination shall be required. In confirmation of such subordination, Tenant shall execute and deliver promptly any certificate that Landlord or any mortgagee may request. In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, at the option of such mortgagee or successor, this Lease shall nevertheless continue in full force and effect and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its Landlord. The word “mortgagee” as used in this Lease shall include the holder for the time being whenever the context permits. Notwithstanding anything to the contrary contained in this Section 12.2, Tenant shall not be required to subordinate this Lease to any mortgage or the lien of any and all Mortgages and to any Ground Leasesmortgage, and any and all renewals, extensions, modifications, recastings and refinancings thereof. This clause nor shall the subordination provided herein be self-operative, without execution operative unless the holder of any further instrument; but if requested by Landlord or any Mortgagee, Tenant shall promptly execute a certificate or other document evidencing and providing for such subordination. Landlord shall have the right to execute said document on behalf of Tenant if Tenant fails to do so within ten (10) business days after receipt of the request. Tenant agrees that, if any Mortgage is foreclosed or Ground Lease terminated, upon request by the purchaser at the foreclosure sale or Ground Lessormortgage, as the case may be, Tenant shall attorn enter into an agreement with Tenant, recordable in form, to and recognize the purchaser effect that, in the event of foreclosure of, or Ground Lessor as similar action taken under such mortgage, Tenant’s possession of the landlord Premises under this Lease and shall make all payments required hereunder to not be terminated or disturbed by such new landlord without any deduction mortgage holder or set-off anyone claiming under such mortgage holder, as the case may be, so long as Tenant shall not be in default under this Lease. The form of any kind whatsoever. Tenant waives such agreement shall be the provisions of any Laws, now or hereafter in effect, which may give or purport to give Tenant any right to terminate or otherwise affect this Lease or the obligations of Tenant hereunder in the event that form required by any such foreclosure, termination or other proceeding is filed, prosecuted or completed. Notwithstanding anything herein to the contrary, any Mortgagee may at any time subordinate the lien of mortgagee in its Mortgage to the operation sole and effect of this Lease without Tenant's consent, by giving Tenant written notice of such subordination, in which event this Lease shall be deemed to be senior to such Mortgage, and thereafter such Mortgagee shall have the same rights as it would have had if this Lease had been executed, delivered and recorded before said Mortgageabsolute discretion.

Appears in 1 contract

Samples: Lease (GTC Biotherapeutics Inc)

Lease Subordinate. This Lease shall be subject and subordinate to any mortgage now or hereafter on the lien of any Lot or Building, or both, which are separately and all Mortgages together hereinafter in this Article IX referred to as "the mortgaged premises", and to each advance made or hereafter to be made under any Ground Leasesmortgage, and any and to all renewals, extensions, modifications, recastings consolidation, replacements and refinancings thereof. This clause extensions thereof and all substitutions therefor, provided that the holder thereof enters into an agreement with Tenant by the terms of which such holder will agree to recognize the rights of tenant under this Lease and to accept Tenant as tenant of the Premises under the terms and conditions of this Lease in the event of acquisition of title by such holder through foreclosure proceedings or otherwise and Tenant will agree to recognize the holder of such mortgage as Landlord in such event, which agreement shall be self-operativemade expressly to bind and inure to the benefit of the successors and assigns of Tenant and of the holder and upon anyone purchasing the Premises at any foreclosure sale, provided however, that such holder shall not: (i) be liable for any previous act or omission of Landlord under this Lease; (ii) be subject to any offset, defense or counterclaim which shall theretofore have accrued to Tenant against Landlord; (iii) have any obligation with respect to any security deposit unless it shall have been paid over or physically delivered to such successor; or (iv) be bound by any previous modification of this Lease or by any previous payment of Annual Fixed Rent for a period greater than one (1) month, made without execution the consent of such holder where such consent is required by the applicable instrument. Notwithstanding the foregoing any such holder may at its election subordinate its mortgage to this Lease without the consent or approval of Tenant. Tenant and Landlord agree to execute and deliver any appropriate instruments necessary to carry out the agreements contained in this Section 9.1. Tenant acknowledges that, where applicable, any consent or approval hereafter given by Landlord may be subject to the further instrumentconsent or approval of the holder; but if requested by and the failure or refusal of such holder to give such consent or approval shall, notwithstanding anything to the contrary in this Lease contained, constitute reasonable justification for Landlord's withholding its consent or approval. Tenant hereby irrevocably constitutes and appoints Landlord or any Mortgageeholder, Tenant shall promptly and their respective successors in interest, acting singly, Tenant's attorney-in-fact to execute a and deliver any such certificate or other document evidencing and providing for such subordination. Landlord shall have the right to execute said document instrument for, on behalf and in the name of Tenant Tenant, but only if Tenant fails to do so execute, acknowledge and deliver any such certificate or instrument within ten (10) business days after receipt Landlord or such holder has made written request therefor. Landlord represents to Tenant that, as of the requestdate of this Lease, there are no mortgages affecting the Building. Tenant Landlord agrees that, if as to any Mortgage is foreclosed or Ground Lease terminatedfuture mortgages affecting the Building, upon request by Landlord shall use reasonable efforts to obtain from the purchaser at holder of such mortgage a written instrument in recordable form and in the foreclosure sale or Ground Lessorcustomary form of such mortgagee that, as the case may be, long as Tenant shall attorn not be in terminable default of the obligations on its part to be kept and recognize performed under the purchaser or Ground Lessor as the landlord under terms of this Lease, this Lease will not be affected and shall make all payments required hereunder to such new landlord without any deduction or set-off of any kind whatsoever. Tenant waives the provisions of any Laws, now or hereafter in effect, which may give or purport to give Tenant any right to terminate or otherwise affect this Lease or the obligations of Tenant hereunder in the event that any such foreclosure, termination or other proceeding is filed, prosecuted or completed. Notwithstanding anything herein to the contrary, any Mortgagee may at any time subordinate the lien of its Mortgage to the operation and effect of this Lease without Tenant's consentpossession hereunder will not be disturbed by any default in and/or foreclosure of, by giving Tenant written notice of such subordination, in which event this Lease shall be deemed to be senior to such Mortgage, and thereafter such Mortgagee shall have the same rights as it would have had if this Lease had been executed, delivered and recorded before said Mortgagemortgage.

Appears in 1 contract

Samples: Manhattan Associates Inc

Lease Subordinate. This Lease shall be subject and subordinate to the lien of any and all Mortgages and to any Ground Leases, and any and all renewals, extensions, modifications, recastings and refinancings thereof. This clause shall be self-operative, without execution of any further instrument; but if requested by Landlord or any Mortgagee, . Tenant shall promptly execute a certificate or other document evidencing and providing for such subordination. Landlord shall have the right to execute said document on behalf of Tenant if Tenant fails to do so within ten (10) business days after receipt of the request. Tenant agrees that, if any Mortgage is foreclosed or Ground Lease terminated, upon request by the purchaser at the foreclosure sale or Ground Lessor, as the case may be, Tenant shall attorn to and recognize the purchaser or Ground Lessor as the landlord under this Lease and shall make all payments required hereunder to such new landlord without any deduction or set-off of any kind whatsoever. Tenant waives the provisions of any Lawslaw or regulation, now or hereafter in effect, which may give or purport to give Tenant any right to terminate or otherwise affect this Lease or the obligations of Tenant hereunder in the event that any such foreclosure, termination or other proceeding is filed, prosecuted or completed. Notwithstanding anything herein to the contrary, any Mortgagee may at any time subordinate the lien of its Mortgage to the operation and effect of this Lease without Tenant's ’s consent, by giving Tenant written notice of such subordination, in which event this Lease shall be deemed to be senior to such Mortgage, and thereafter such Mortgagee shall have the same rights as it would have had if this Lease had been executed, delivered and recorded before said Mortgage. Landlord shall use reasonable efforts to obtain from any current or future Mortgagee or Ground Lessor a nondisturbance agreement for the benefit of Tenant in such Mortgagee’s or Ground Lessor’s, as the case may be, usual form; provided, however, that (i) Tenant shall pay all costs incurred by Landlord which are imposed by such Mortgagee or Ground Lessor, as the case may be, with respect to such nondisturbance agreement and (ii) in the event that Landlord does not obtain such nondisturbance agreement, this Lease shall be and remain subject and subordinate to the lien of said Mortgage or Ground Lease, as the case may be, and to any and all renewals, extensions, modifications, recastings and refinancings thereof.

Appears in 1 contract

Samples: Lease (Learning Tree International Inc)

Lease Subordinate. This Lease shall be subject and subordinate to the lien of any and all Mortgages and to any Ground Leases, and any and all renewals, extensions, modifications, recastings and refinancings thereof. This clause shall be self-operative, without execution of any further instrument; but if requested by Landlord or any Mortgagee, Tenant shall promptly execute a certificate or other document evidencing and providing for such subordination. Landlord shall have the right to execute said document on behalf of Tenant if Tenant fails to do so within ten five (105) business days after receipt of the request. Tenant agrees that, if any Mortgage is foreclosed or Ground Lease terminated, upon request by the purchaser at the foreclosure sale or Ground Lessor, as the case may be, Tenant shall attorn to and recognize the purchaser or Ground Lessor as the landlord under this Lease and shall make all payments required hereunder to such new landlord without any deduction or set-off of any kind whatsoeverwhatsoever except as expressly provided for in this Lease. Tenant waives the provisions of any Lawslaw or regulation, now or hereafter in effect, which may give or purport to give Tenant any right to terminate or otherwise affect this Lease or the obligations of Tenant hereunder in the event that any such foreclosure, termination or other proceeding is filed, prosecuted or completed. Notwithstanding anything herein to the contrary, any Mortgagee may at any time subordinate the lien of its Mortgage to the operation and effect of this Lease without Tenant's consent, by giving Tenant written notice of such subordination, in which event this Lease shall be deemed to be senior to such Mortgage, and thereafter such Mortgagee shall have the same rights as it would have had if this Lease had been executed, delivered and recorded before said Mortgage.

Appears in 1 contract

Samples: MCG Capital Corp

Lease Subordinate. This Lease shall be subject and subordinate to the lien of any and all Mortgages and to any Ground Leases, and any and all renewals, extensions, modifications, recastings and refinancings thereof. This clause shall be self-operative, without execution of any further instrument; but if requested by Landlord or any Mortgagee, Tenant shall promptly execute a certificate or other document evidencing and providing for such subordination. Landlord shall have the right to execute said document on behalf of Tenant if Tenant fails to do so within ten five (105) business days after receipt of the request. Tenant agrees that, if any Mortgage is foreclosed or Ground Lease terminated, upon request by the purchaser at the foreclosure sale or Ground Lessor, as the case may be, Tenant shall attorn to and recognize the purchaser or Ground Lessor as the landlord under this Lease and shall make all payments required hereunder to such new landlord without any deduction or set-off of any kind whatsoever. Tenant waives the provisions of any Lawslaw or regulation, now or hereafter in effect, which may give or purport to give Tenant any right to terminate or otherwise affect this Lease or the obligations of Tenant hereunder in the event that any such foreclosure, termination or other proceeding is filed, prosecuted or completed. Notwithstanding anything herein to the contrary, any Mortgagee may at any time subordinate the lien of its Mortgage to the operation and effect of this Lease without Tenant's ’s consent, by giving Tenant written notice of such subordination, in which event this Lease shall be deemed to be senior to such Mortgage, and thereafter such Mortgagee shall have the same rights as it would have had if this Lease had been executed, delivered and recorded before said Mortgage.

Appears in 1 contract

Samples: Office Lease (Global Secure Corp.)

Lease Subordinate. This Lease shall be subject and subordinate to any mortgage, deed of trust or ground lease now or hereafter placed upon the Premises or any portion thereof by Landlord, its successors or assigns, and to amendments, replacements, renewals and extensions thereof. Xxxxxx agrees at any time hereafter, upon demand, to execute and deliver any instruments, releases, or other documents that may be reasonably required for the purpose of subjecting and subordinating this Lease, as above provided, to the lien of any and all Mortgages and to any Ground Leasessuch mortgage, and any and all renewals, extensions, modifications, recastings and refinancings thereofdeed of trust or ground lease. This clause shall be self-operative, without execution of any further instrument; but if requested by Landlord or any Mortgagee, Tenant shall promptly execute a certificate or other document evidencing and providing for such subordination. Landlord shall have the right to execute said document on behalf of Tenant if Tenant fails to do so within ten (10) business days after receipt of the request. Tenant agrees that, if any Mortgage is foreclosed or Ground Lease terminatedIn addition, upon request by Xxxxxx and provided Tenant is not in default under this Lease, Landlord agrees to use diligent, commercially reasonable efforts to obtain a non-disturbance agreement from any such mortgage or deed of trust holder provided that if after exerting such diligent, commercially reasonable efforts Landlord is unable to obtain such agreement, Landlord shall have no further obligation to Tenant with respect thereto. Landlord represents and warrants that as of the purchaser at date of Landlord’s execution and delivery of this Lease, neither the foreclosure sale Building nor Project are encumbered by any such ground or Ground Lessorunderlying leases, as mortgages or deeds of trust. Notwithstanding the case may beforegoing, Tenant shall attorn Tenant’s agreement to and recognize the purchaser or Ground Lessor as the landlord enter into a written agreement to subordinate its interest under this Lease and shall make all payments required hereunder to such new landlord without any deduction a lien or set-off ground lease not in existence as of any kind whatsoever. Tenant waives the provisions date of any Laws, now or hereafter in effect, which may give or purport to give Tenant any right to terminate or otherwise affect this Lease or the obligations of Tenant hereunder in the event that any such foreclosure, termination or other proceeding is filed, prosecuted or completed. Notwithstanding anything herein to the contrary, any Mortgagee may at any time subordinate the lien of its Mortgage to the operation and effect of this Lease without Tenant's consent, by giving Tenant written notice of such subordination, in which event this Lease shall be deemed to conditioned upon the holder of such lien, or a ground lessor, as applicable, confirming in writing that Xxxxxx’s leasehold interest hereunder shall not be senior to such Mortgage, and thereafter such Mortgagee shall have the same rights disturbed so long as it would have had if no default by Tenant exists under this Lease had been executed, delivered and recorded before said MortgageLease.

Appears in 1 contract

Samples: Commercial Lease Agreement (Lulu's Fashion Lounge Holdings, Inc.)

Lease Subordinate. This Lease shall be subject and subordinate to the lien of any and all Mortgages and to any Ground Leases, and any and all renewals, extensions, modifications, recastings and refinancings thereof. This clause shall be self-operative, without execution of any further instrument; but if requested by Landlord or any Mortgagee, Tenant shall promptly execute a certificate or other document evidencing and providing for such subordination. Landlord shall have the right to execute said document on behalf of Tenant if Tenant fails to do so within ten five (105) business days after receipt of the request. Tenant agrees that, if any Mortgage is foreclosed or Ground Lease terminated, upon request by the purchaser at the foreclosure sale or Ground Lessor, as the case may be, Tenant shall attorn to and recognize the purchaser or Ground Lessor as the landlord under this Lease and shall make all payments required hereunder to such new landlord without any deduction or set-off of any kind whatsoever. Tenant waives the provisions of any Lawslaw or regulation, now or hereafter in effect, which may give or purport to give Tenant any right to terminate or otherwise affect this Lease or the obligations of Tenant hereunder in the event that any such foreclosure, termination or other proceeding is filed, prosecuted or completed. Notwithstanding anything herein to the contrary, any Mortgagee may at any time subordinate the lien of its Mortgage to the operation and effect of this Lease without Tenant's consent, . by giving Tenant written notice of such subordination, in which event this Lease shall be deemed to be senior to such Mortgage, and thereafter such Mortgagee shall have the same rights as it would have had if this Lease had been executed, delivered and recorded before said Mortgage. Upon Landlord's receipt of Tenant's written request therefor, Landlord shall use reasonable efforts to obtain a non-disturbance and quiet enjoyment agreement from each future Mortgagee and Ground Lessor, and Tenant shall pay all third party costs associated with obtaining the agreement, but in no event shall the fact that a non-disturbance agreement is not obtained from any future Mortgagee or Ground Lessor affect in any manner the subordination provided for in Section 22.A. hereof.

Appears in 1 contract

Samples: Hagler Bailly Inc

Lease Subordinate. This Lease shall be subject and subordinate to the lien of any and all Mortgages and to any Ground Leases, and any and all renewals, extensions, modifications, recastings and refinancings thereof. This clause shall be self-operative, without execution of any further instrument; , but if requested by Landlord or any Mortgagee, Tenant shall promptly execute a certificate or other document evidencing and providing for such subordination. Landlord shall have the right to execute said document on behalf of Tenant if Tenant fails to do so within ten (10) business days after receipt of the request. Tenant agrees that, if any Mortgage is foreclosed or Ground Lease terminated, upon request by the purchaser at the foreclosure sale or Ground Lessor, as the case may be, Tenant shall attorn to and recognize the purchaser or Ground Lessor as the landlord under this Lease and shall make all payments required hereunder to such new landlord without any deduction or set-off of any kind whatsoever. Tenant waives the provisions provision of any Lawslaw or regulation, now or hereafter hereinafter in effect, which may give or purport to give Tenant any right to terminate or otherwise affect this Lease or the obligations of Tenant hereunder in the event that any such foreclosure, termination or other proceeding is filed, prosecuted or completed. Notwithstanding anything herein to the contrary, any Mortgagee may at any time subordinate the lien of its Mortgage to the operation and effect of this Lease without Tenant's ’s consent, by giving Tenant written notice of such subordination, in which event this Lease shall be deemed to be senior to such Mortgage, and thereafter such Mortgagee shall have the same rights as it would have had if this Lease had been executed, delivered and recorded before said Mortgage. If Tenant requests in writing that Landlord from any current or future Mortgagee or Ground Lessor a non-disturbance agreement for the benefit of Tenant, then Landlord shall use reasonable efforts to obtain such non-disturbance agreement in such Mortgagee’s or Ground Lessor’s, as the case may be, usual form; provided, however, that (i) Tenant shall pay all costs incurred by Landlord which are imposed by such Mortgagee or Ground Lessor, as the case may be, with respect to such non-disturbance agreement and (ii) in the event that Landlord does not obtain such non-disturbance agreement, this Lease shall be and remain subject and subordinate to the lien of said Mortgage or Ground Lease, as the case may be, and to any and all renewals, extensions, modifications, castings and refinancings thereof.

Appears in 1 contract

Samples: Office Lease (Sucampo Pharmaceuticals, Inc.)

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