Mortgagee Protections. Nothing contained in this Articles 24 shall be deemed to modify the provisions of Section 10.04 and Section 10.05 hereof.
Mortgagee Protections. Nothing contained in this Article 24 shall be deemed to modify the provisions of Section 10.04 hereof (including without limitation, as they apply, where applicable, to a Tax Equity Investor under Section 38.01).
Mortgagee Protections. No breach of any of the covenants, conditions or restrictions contained in this Agreement, nor the enforcement of any lien or other monetary provisions herein, shall render invalid the lien of any Mortgagee holding a first Mortgage of record (meaning a Mortgage with first priority over any other Mortgage) on any of the Land made in good faith and for value, but all of such covenants, conditions or restrictions shall be binding upon and effective against any Owner whose title is derived through foreclosure or trustee’s sale.
Mortgagee Protections. The parties hereto agree that this Agreement shall not prevent or limit the right of Seaview Palms at its sole discretion, to encumber the Easements or any portion thereof or any improvement built on the Easement area by any mortgage, deed of trust or other security device (collectively “Mortgage”) securing, among other things, financing of the purchase, development, redevelopment or operation of the Easements or any portion thereof (including, without limitation, any combination of purchase financing, construction financing, bridge loans, take-out and permanent financing); provided, however, that the lien of any such Mortgage recorded after the date of this Agreement shall be subordinate to this Agreement. The City acknowledges that prospective lenders providing such financing may request certain interpretations and modifications of this Agreement, and agrees upon request, from time to time, to meet with Seaview Palms and representatives of such lenders to discuss in good faith any such request for interpretation or modification. The City shall not unreasonably withhold its consent to any such requested interpretation or modification that the City, acting reasonably and in good faith, determines is consistent with the intent and purposes of this Agreement and protects the interests of the City under this Agreement. Any Mortgagee of the Easements shall be entitled to the following rights and privileges: Neither entering into this Agreement nor a breach of this Agreement shall defeat, render invalid, diminish or impair the lien of any Mortgage. If the City timely receives a request from a Mortgagee requesting a copy of any notice of default given to Seaview Palms under the terms of this Agreement, the City shall provide a copy of that notice to the Mortgagee within three days of sending the notice of default to Seaview Palms. The Mortgagee shall have the right, but not the obligation, to cure the default within a period of time equal to the cure period provided to Seaview Palms under this Agreement, plus an additional 30 days, and the City shall not exercise any of its remedies with respect to such default until the Mortgagee's cure period has expired. AMENDED Any Mortgagee who obtains title to the Easements, or any part thereof, pursuant to foreclosure of the mortgage or deed of trust, or deed in lieu of such foreclosure, shall take the Easements, or part thereof, subject to the terms of this Agreement. Upon obtaining title to the Easements (or rights unde...
Mortgagee Protections. The "Mortgagee Protections" means, as to any Mortgagee or Investor Limited Partner, all rights, protections, and privileges of such Mortgagee as expressly provided for under this Lease, including the following: (1) any right to receive notices and/or to cure defaults (including, in the case of a Leasehold Mortgagee or Investor Limited Partner, all Leasehold Mortgagee's Cure Rights); (2) any requirement for Leasehold Mortgagee's or Investor Limited Partner Consent to any matter; (3) in the case of a Leasehold Mortgagee, all provisions of this Lease relating to a New Lease and all rights of any New Lessee or Successor Lessee; and (4) all other rights, protections, and privileges of such Mortgagee under this Lease.
Mortgagee Protections. The following provisions are for the benefit of the holder (“Mortgagee”) of any first mortgage (“Mortgage”) encumbering the Grantor’s Parcel. Any Mortgagee who provides a written request to the GRANTEE stating its name and address and indicating that its Mortgage encumbers all or part of the Grantor’s Parcel shall be entitled to a copy of any notice of default by GRANTOR under this Agreement, and the Mortgagee shall have the right, but not the obligation, to cure any such default within thirty (30) days after its receipt of such notice of default, or within such longer period of time as may be reasonably required under the circumstances.
Mortgagee Protections. Notwithstanding any other provision of this Lease Agreement:
Mortgagee Protections. Tenant agrees to give any holder of any lien or other such encumbrance covering any part of the project of which the Building is a part (“Mortgagee”), by registered mail, a copy of any notice of default served upon Landlord, provided that prior to such notice Tenant has been notified in writing (by way of notice of assignment of rents and leases, or otherwise) of the address of such Mortgagee. If Landlord shall have failed to cure such default within thirty (30) days from the effective date of such notice of default, then the Mortgagee shall have an additional thirty (30) days within which to cure such default or if such default cannot be cured within that time, then such additional time as may be necessary to cure such default (including the time necessary to foreclose or otherwise terminate its lien or other such encumbrance, if necessary to effect such cure), and this Lease shall not be terminated so long as such remedies are being diligently pursued.
Mortgagee Protections. If any lender requires, as a condition to its lending funds the repayment of which is to be secured by a mortgage or trust deed on the Building or any portion thereof, that certain modifications be made to this Lease, which modifications will not require Tenant to pay any additional amounts or otherwise change materially the rights or obligations of Tenant hereunder, Tenant shall, upon Landlord's request, execute appropriate instruments effecting such modifications. In the event of any act or omission by Landlord which would give Tenant the right to damages from Landlord or the right to terminate this Lease, Tenant will not sxx for such damages or exercise any such right to terminate until (i) it shall have given written notice of the act or omission to Landlord and to the holder(s) of any mortgage or deed of trust encumbering the Building, if the name and address of such holder(s) have been furnished to Tenant, and (ii) such holder(s) shall have been given a reasonable opportunity to cure Landlord's default, including time to obtain possession of the Building or portion thereof by power of sale or judicial foreclosure or other appropriate legal proceedings, if such should prove necessary to effect a cure.
Mortgagee Protections. Landlord’s rights contained in this Article 24 are subject to the rights of Mortgagee set forth in Section 10.04 and Section 10.05 and nothing contained in this Articles 24 shall be deemed to modify or limit Mortgagee’s rights thereunder.
