Common use of Leases Affecting the Real Property Clause in Contracts

Leases Affecting the Real Property. Mortgagor agrees faithfully to perform all of its obligations under all present and future Leases at any time assigned to Mortgagee as additional security, and to refrain from any action or inaction which would result in termination of any such Leases or in the diminution of the value thereof or of the Rents due thereunder. All future lessees under any Lease made after the date of recording of this Mortgage shall, at Mortgagee's option and without any further documentation, attorn to Mortgagee as lessor if for any reason Mortgagee becomes lessor thereunder, and, upon demand, pay rent to Mortgagee, and Mortgagee shall not be responsible under such Lease for matters arising prior to Mortgagee becoming lessor thereunder.

Appears in 4 contracts

Samples: Mortgage, Security Agreement (Gfsi Inc), Mortgage, Security Agreement (Gfsi Inc), Mortgage, Security Agreement (Cerion Technologies Inc)

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Leases Affecting the Real Property. Mortgagor agrees faithfully to perform all of its obligations under all present and future Leases at any time assigned to Mortgagee as additional security, and to refrain from any action or inaction which would result in termination of any such Leases or in the material diminution of the value thereof or of the Rents due thereunder. All future lessees under any Lease Leases made after the effective date of recording of this Mortgage shallshall include provisions requiring the lessees thereunder, at Mortgagee's ’s option and without any further documentation, to attorn to Mortgagee as lessor if for any reason Mortgagee becomes lessor thereunder, andand to pay rent to Mortgagee during the continuance of an Event of Default, upon demand, pay rent to Mortgagee, and Mortgagee shall not be responsible under such Lease for matters arising prior to Mortgagee becoming lessor thereunder.

Appears in 3 contracts

Samples: Contribution Deferral Agreement, Contribution Deferral Agreement (YRC Worldwide Inc.), Joinder Agreement (Yrc Worldwide Inc)

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Leases Affecting the Real Property. Mortgagor agrees faithfully to perform all of its obligations under all present and future Leases at any time assigned to Mortgagee as additional security, and to refrain from any action or inaction which would result in termination of any all such Leases or in the diminution of the value thereof or of the Rents due thereunder. All future lessees under any Lease made after the date of recording of this Mortgage shall, at Mortgagee's option and without any further documentation, attorn to Mortgagee as lessor if for any reason Mortgagee becomes lessor thereunder, and, upon demand, pay rent to Mortgagee, and Mortgagee shall not be responsible under such Lease for matters arising prior to Mortgagee becoming lessor thereunder.

Appears in 1 contract

Samples: Indenture (Meritage Hospitality Group Inc /Mi/)

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