Mortgagee Rights. Tenant acknowledges that Landlord's right to any condemnation award may be subject to the rights of Landlord's mortgagee (if any) in and to such award under the mortgage or deed of trust (if any) which encumbers the Building and Premises. Accordingly, Landlord's obligation to repair and restore, as set forth in Section 29, above, shall be subject to the requirements of Landlord's mortgagee with regard thereto, and the time within which such obligation must be satisfied shall be adjusted as reasonably necessary to reflect delays occasioned by the exercise by the mortgagee of such mortgagee's rights.
Mortgagee Rights. (a) Tenant shall, at its own expense, comply with all reasonable notices of Landlord's mortgagee or other financial institution providing funds which are secured by a mortgage or deed of trust placed on the whole or any part of the real property of which the Demised Premises are a part, respecting all matters of occupancy, use, condition or maintenance of the Demised Premises, provided the same shall not unreasonably interfere with the conduct of Tenant's business nor materially limit or affect the rights of the parties under this Lease. Notwithstanding acceptance and execution of this Lease by the parties hereto, the terms hereof shall be deemed automatically modified, if so required, for the purpose of complying with or fulfilling the reasonable requirements of any mortgagee or trustee named or secured by a mortgage or deed of trust that may now or hereafter be placed upon or secured by the real property of which the Demised Premises are a part or any part thereof, or any other financial institution providing funds to finance or refinance the real property of which the Demised Premises are a part, provided, however, that such modifications(s) shall not be in material derogation or diminution of any of the rights of the parties hereunder, nor materially increase any of the obligations or liabilities of the parties hereunder.
Mortgagee Rights. Tenant shall, at its own expense, comply with all reasonable notices of Landlord's mortgagee or other financial institution providing funds which are secured by a mortgage or deed of trust placed on the whole or any part of the real property of which the Premises are a part, respecting all matters of occupancy, use, condition or maintenance of the Premises, provided the same shall not unreasonably interfere with the conduct of Tenant's business nor materially limit or affect the rights of the parties under this Lease. Tenant shall give Landlord's mortgagee a copy of any notice of default served upon Landlord by Tenant, provided that prior to such notice, Tenant has been notified in writing of the address of the mortgagee. Notice shall be provided to the mortgagee in accordance with the Notice provision of this Lease. Tenant further agrees that if Landlord shall have failed to cure such default within the cure period, if any, provided in this Lease, 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 if within such thirty (30) days any mortgagee a has commenced and is diligently pursuing the remedies necessary to cure such default (including, but not limited to, commencement of foreclosure proceedings if necessary to effect such cure), in which event this Lease shall not be terminated while such remedies are being diligently pursued.
Mortgagee Rights. The parties hereto agree that this Agreement shall not prevent or limit Developer, in any manner, at Developer's sole discretion, from encumbering the Property or any portion thereof or any improvement thereon by any mortgage, deed of trust, or other security device securing financing with respect to the Property. City acknowledges that the lenders providing such financing may require certain Agreement interpretations and modifications and agrees upon request, from time to time, to meet with the Developer and representatives of such lenders to negotiate in good faith any such request for interpretation or modification. City will not unreasonably withhold its consent to any such requested interpretation or modification provided such interpretation or modification is consistent with the intent and purposes of this Agreement. Developer shall reimburse City for any and all of City's reasonable costs associated with said negotiations, interpretations, and modifications and shall make reimbursement payments to City within thirty (30) days or receipt of an invoice from City. Neither entering into this Agreement nor a breach of this Agreement shall defeat, render invalid, diminish, or impair the lien of any mortgage on the Property made in good faith and for value, unless otherwise required by law or specified herein.
Mortgagee Rights. The owner and holder of any mortgage lien, deed of trust, or similar instrument encumbering lands benefitted by a Parcel, or part thereof (a "Mortgagee") shall have the same rights as its respective mortgagor hereunder, including the right to cure defaults of its mortgagor and to seek curative actions and exercise enforcement rights under this Agreement.
Mortgagee Rights. In the event of the enforcement of rights by a mortgagee of the LANDLORD, the TENANT agrees, upon the request of a duly authorized mortgagee representative, to become the TENANT of such mortgagee, or its successor, on the same terms as provided in the Rental Agreement. The mortgagee, or its successor, will not be bound by any rent payment made more than one month in advance or any amendment of this paragraph. The TENANT may be required, from time to time, to sign an agreement acknowledging the contents of this paragraph in a form satisfactory to the LANDLORD’S mortgagee.
Mortgagee Rights. This Lease is and shall be automatically subject and subordinate to any mortgage encumbering the Premises and to any and all advances to be made thereunder and to all renewals, modifications and extensions thereof. It is the intention of Landlord and Tenant that the foregoing subordination shall be self-operating without any further agreement of Tenant. In the event any mortgagee exercises the power of sale or accepts a deed in lieu of foreclosure under any mortgage, Tenant agrees, in consideration for the subordination of this Lease set forth above, to attorn to and recognize the purchaser, at such sale, as landlord under this Lease. In the event the mortgagee requires confirmation of the agreements contemplated in this Paragraph, Tenant agrees, on or before seven (7) days after request, to execute and deliver to Landlord such instrument as the mortgagee may reasonably require. In the event Tenant fails to do so, Landlord is hereby irrevocably vested with full power and authority to confirm the subordination of Tenant's interest under this Lease to the mortgagee.
Mortgagee Rights. Xxxxxxx's construction lender(s) and their successors and assigns shall have the rights set forth on Exhibit C attached hereto.
Mortgagee Rights. Resident’s rights under this lease shall at all times be automatically junior and subject to any deed to secure debt, which is now or shall hereafter be placed on Property. If requested, Resident shall execute promptly any certificate that Management may request to specifically implement this paragraph. By initialing below, you acknowledge and agree to the terms in Section 4. X Initial Here
Mortgagee Rights. 15 6.1 Encumbrances on the Property . 15
