Common use of Leasehold Mortgages Clause in Contracts

Leasehold Mortgages. In connection with the Redevelopment of the Property, Tenant may from time to time grant one or more mortgages, deeds of trust or other security interests in its leasehold estate under this Lease (a “Leasehold Mortgage”) and assign this Lease as security for such Leasehold Mortgage(s). Such Leasehold Mortgages and any foreclosure, sale or other realization proceeding pursuant to any Leasehold Mortgage granted by Tenant and any deed or assignment in lieu thereof (“Realization Proceedings”) shall not require the consent of Landlord and shall not be subject to the provisions of Section 13 hereof. No Leasehold Mortgage shall place or create any lien or encumbrance affecting Landlord’s interest in the Property or the Improvements. The holder of any Leasehold Mortgage (a “Leasehold Mortgagee”) hereunder shall provide Landlord with notice of such Leasehold Mortgage together with a true copy of such Leasehold Mortgage and the name and address of such Leasehold Mortgagee (“Leasehold Mortgagee Address”). Following receipt of such notice by Landlord, the provisions of this Section 14 shall apply in respect to such Leasehold Mortgage. Tenant shall promptly provide to Landlord copies of the note and other instruments secured by any Leasehold Mortgage and any and all amendments to any such instruments as may be made from time to time.

Leasehold Mortgages. In connection with Notwithstanding anything to the Redevelopment of the Propertycontrary ------------------- contained in this Lease, Tenant may from time to time grant execute, deliver and perform one or more mortgages, deeds of trust or other leasehold security interests in its leasehold estate under this Lease agreements (a “"Leasehold Mortgage”Indentures") and assign this Lease as security for such Leasehold Mortgage(s). Such Leasehold Mortgages and any foreclosure, sale or other realization proceeding pursuant to any Leasehold Mortgage granted by Tenant and any deed or assignment in lieu thereof (“Realization Proceedings”) shall not require without the consent of Landlord in connection with an overall financing of Advance Stores Company, Incorporated or a successor to substantially all of its assets ("ASCI"). If either Tenant or the mortgagee, grantee or trustee under any such Leasehold Indenture sends Landlord a notice advising of the existence of such Leasehold Indenture and the address of the mortgagee, grantee or trustee thereunder for the service of such notices, such mortgagee, grantee or trustee shall be deemed to be a "Leasehold Lender." Landlord shall be under no obligation under this paragraph to any mortgagee, grantee or trustee under a Leasehold Indenture who is not be subject a Leasehold Lender. Anything to the provisions of Section 13 hereofcontrary herein notwithstanding, there shall only be one Leasehold Lender with respect to the Leased Premises at any time. No Leasehold Mortgage shall place or create any lien or encumbrance affecting Landlord’s interest in A. Upon the Property or the Improvements. The holder occurrence of any default hereunder by Tenant, written notice to that effect shall be sent by Landlord to each Leasehold Mortgage (a “Leasehold Mortgagee”) hereunder shall provide Landlord with Lender at the same time notice of such Leasehold Mortgage together with a true copy default is sent to Tenant. Landlord shall not terminate this Lease or exercise any other right or remedy hereunder unless it first gives notice of such default to each Leasehold Mortgage and the name and address of such Leasehold Mortgagee (“Leasehold Mortgagee Address”). Following receipt of such notice by LandlordLender, the provisions of this Section 14 shall apply in respect to such Leasehold Mortgage. Tenant shall promptly provide to Landlord copies of the note and other instruments secured by any Leasehold Mortgage and any and all amendments to any such instruments as may be made from time to time.and:

Leasehold Mortgages. In connection with the Redevelopment of the Property, Tenant may (a) The Company shall at all times and from time to time grant one have the right to encumber, pledge or more mortgageshypothecate all of the Company’s right, deeds of trust or other security interests in its leasehold estate title and interest under this Lease pursuant to a Leasehold Mortgage, as security for any debt of the Company (such mortgage, deed to secure debt or other instrument(s) being hereinafter referred to as a “Leasehold Mortgage”, and the holder(s) and assign this Lease as security for from time to time of such Leasehold Mortgage(s). Such Leasehold Mortgages and any foreclosure, sale or other realization proceeding pursuant Mortgage being hereinafter referred to any Leasehold Mortgage granted by Tenant and any deed or assignment in lieu thereof (“Realization Proceedings”) shall not require the consent of Landlord and shall not be subject to the provisions of Section 13 hereof. No Leasehold Mortgage shall place or create any lien or encumbrance affecting Landlord’s interest in the Property or the Improvements. The holder of any Leasehold Mortgage (as a “Leasehold Mortgagee”) hereunder ), in each case without the consent of either the Issuer or the Holder of the Bond. In the event that a Leasehold Mortgagee shall provide Landlord the Issuer with written notice of its name and address (a “Notice of Leasehold Mortgage”), then, following receipt by the Issuer of such Notice of Leasehold Mortgage and for so long as such Leasehold Mortgage shall remain unsatisfied of record or until written notice of satisfaction of such Leasehold Mortgage together with a true copy of such Leasehold Mortgage and is given by the name and address of such Leasehold Mortgagee (“Leasehold Mortgagee Address”). Following receipt of such notice by Landlordto the Issuer, the provisions of subsections (b) through (g) of this Section 14 9.3 shall apply in respect to each such Leasehold MortgageMortgagee. Tenant Upon written request of such Leasehold Mortgagee, the Issuer shall promptly provide to Landlord copies acknowledge receipt of the note and other instruments secured by any a Notice of Leasehold Mortgage and any and all amendments by an instrument in recordable form provided to any such instruments as may be made from time to timethe Issuer by the Leasehold Mortgagee.

Leasehold Mortgages. In connection with the Redevelopment of the Property, Tenant may At any time and from time to time grant one during the term of this Lease, and any extension thereof, Lessee may encumber to any person, firm or more mortgages, deeds entity ("Lender") by deed of trust or mortgage or other security interests in its leasehold estate instrument ("Leasehold Mortgage") all or any portion of Lessee's interest under this Lease (a “Leasehold Mortgage”) and the leasehold estate hereby created, and to assign its interest in this Lease and in any sublease as collateral security for such Leasehold Mortgage(s). Such Leasehold Mortgages and mortgage, deed of trust or security instrument, for any foreclosure, sale purpose or other realization proceeding pursuant to any Leasehold Mortgage granted by Tenant and any deed or assignment in lieu thereof (“Realization Proceedings”) shall not require purposes without the consent of Landlord Lessor; provided, however, that no Leasehold Mortgage incurred by Lessee pursuant to this Paragraph shall, and Lessee shall not be subject have power to the provisions of Section 13 hereof. No Leasehold Mortgage shall place or create incur any encumbrance, except for this Lease, that will constitute a lien or encumbrance affecting Landlord’s interest on the fee at the Property. Lessor and Lessee shall amend this Lease to include any provision that a proposed Lender may reasonably request; provided, however, that such provision implements Lender protection provisions in this Lease or preserves the lien of the Leasehold Mortgage on the occurrence of any event of default under this Lease. Such amendment shall neither affect the rent or term provided for in this Lease nor materially adversely affect any other rights of Lessor under this Lease. Any improvements constructed on the Property or during the Improvements. The holder of any Leasehold Mortgage (a “Leasehold Mortgagee”) hereunder shall provide Landlord with notice of such Leasehold Mortgage together with a true copy of such Leasehold Mortgage and the name and address of such Leasehold Mortgagee (“Leasehold Mortgagee Address”). Following receipt of such notice by Landlord, the provisions term of this Section 14 shall apply in respect to such Leasehold Mortgage. Tenant shall promptly provide to Landlord copies of the note and other instruments secured by any Leasehold Mortgage Lease, and any extensions thereof, shall be and all amendments to any such instruments as may be made from remain the property of Lessee until the expiration or sooner termination of this Lease, at which time to timethey shall become the property of Lesser.