Common use of Prior Lien Clause in Contracts

Prior Lien. The Mortgage securing the Note in favor of Administrative Agent, and any modifications, renewals or extensions thereof, shall unconditionally be and at all times remain a lien on the Property prior and superior to the Lease;

Appears in 2 contracts

Sources: Loan Agreement (KBS Real Estate Investment Trust III, Inc.), Loan Agreement (KBS Real Estate Investment Trust II, Inc.)

Prior Lien. The Mortgage securing the Note Notes in favor of Administrative AgentAgent on behalf of the Lenders, and any modifications, renewals or extensions thereofthereof (including, without limitation, any modifications, renewals or extensions with respect to any additional advances made subject to the Mortgage), shall unconditionally be and at all times remain a lien on the Property prior and superior to the Lease;Lease [and the Option To Purchase]; and

Appears in 1 contract

Sources: Lease Agreement (ShoreTel Inc)