Common use of Leasehold Mortgage Not an Assignment Clause in Contracts

Leasehold Mortgage Not an Assignment. For the ------------------------------------ purposes of this Section 4, the making of a Leasehold Mortgage issued by an institutional lender shall not be deemed to constitute an assignment or transfer of this Lease or of the Leasehold Estate hereby created, nor shall any Leasehold Mortgagee, as such, be deemed to be an assignee or transferee of this Lease or of the Leasehold Estate hereby created so as to require such Leasehold Mortgagee, as such, to assume the performance of any of the terms, covenants or conditions on the part of Developer to be performed hereunder, but the purchaser at any sale of this Lease and of the Leasehold Estate hereby created in any proceedings for the foreclosure of any Leasehold Mortgage, or the assignee or transferee of this Lease and of the Leasehold Estate hereby created under any instrument of assignment or transfer in lieu of the foreclosure of any Leasehold Mortgage shall be deemed to be an assignee or transferee within the meaning of this Section 4, and shall be deemed to have agreed to perform all of the terms, covenants and conditions on the part of Developer to be performed hereunder from and after the date of such purchase and assignment, but only for so long as such purchaser or assignee is the owner of the Leasehold Estate. Provided, however, that Developer shall, as to such Leasehold Mortgagee, provide to Landlord the same information which Developer must supply pursuant to this Lease as assignee.

Leasehold Mortgage Not an Assignment. For the ------------------------------------ purposes of this ------------------------------------ Section 4, the making of a Leasehold Mortgage issued by an institutional lender shall not be deemed to constitute an assignment or transfer of this Lease or of the Leasehold Estate hereby created, nor shall any Leasehold Mortgagee, as such, be deemed to be an assignee or transferee of this Lease or of the Leasehold Estate hereby created so as to require such Leasehold Mortgagee, as such, to assume the performance of any of the terms, covenants or conditions on the part of Developer to be performed hereunder, but the purchaser at any sale of this Lease and of the Leasehold Estate hereby created in any proceedings for the foreclosure of any Leasehold Mortgage, or the assignee or transferee of this Lease and of the Leasehold Estate hereby created under any instrument of assignment or transfer in lieu of the foreclosure of any Leasehold Mortgage shall be deemed to be an assignee or transferee within the meaning of this Section 4, and shall be deemed to have agreed to perform all of the terms, covenants and conditions on the part of Developer to be performed hereunder from and after the date of such purchase and assignment, but only for so long as such purchaser or assignee is the owner of the Leasehold Estate. Provided, however, that Developer shall, as to such Leasehold Mortgagee, provide to Landlord the same information which Developer must supply pursuant to this Lease as assignee.