Common use of Procedure for Foreclosure on Default Clause in Contracts

Procedure for Foreclosure on Default. If the Leasehold Mortgagee has commenced taking steps to acquire or sell Tenant's interest in this Lease by foreclosure of the Leasehold Mortgage or other appropriate means, the Leasehold Mortgagee shall provide Lessor notice of the same and shall prosecute the same to completion with due diligence.

Procedure for Foreclosure on Default. If the Leasehold Mortgagee has commenced taking steps to acquire or sell Tenant's interest in this Lease by foreclosure of the Leasehold Mortgage or other appropriate means, the Leasehold Mortgagee shall provide Lessor notice of the same to Lessor and any Facility Mortgagee(s) and shall prosecute the same to completion with due diligence.