Recognition Agreements Sample Clauses
A Recognition Agreement is a contractual provision that establishes the acknowledgment and acceptance of certain rights or obligations by a third party, often in the context of existing agreements between other parties. Typically, this clause is used when a lender, tenant, or other stakeholder needs assurance that their interests will be recognized and respected by another party, such as a landlord or superior creditor. For example, in commercial leasing, a Recognition Agreement may ensure that a lender's security interest in a property is acknowledged by the tenant. The core practical function of this clause is to provide legal certainty and protect the interests of parties who are not original signatories to an agreement, thereby preventing disputes and clarifying the hierarchy of rights in complex transactions.
Recognition Agreements. Master Lessee and the subsidiaries of Master Lessee under the Individual Property Subleases shall have the right to enter into recognition agreements or nondisturbance and attornment agreements with Tenants under Subleases without Lender’s consent.
Recognition Agreements. The Borrower and the Restricted Subsidiaries shall have the right to enter into recognition agreements or nondisturbance and attornment agreements with Tenants under Real Property Leases without Lender’s consent.
Recognition Agreements. Sublessor shall use reasonably diligent ----------------------- efforts to obtain from DEC a consent, recognition and attornment agreement in the form of attached Exhibit F or in such other form as is acceptable to Sublessee in its reasonable discretion. In addition, Sublessor shall use reasonably diligent efforts to obtain a recognition and attornment agreement in the form of attached Exhibit G or such other form as is reasonably acceptable to Sublessee executed by the Landlord.
Recognition Agreements. The District agrees, for the benefit of each Leasehold Mortgagee and any Subtenant, that if this Lease shall terminate for any reason, other than as a result of a Taking, the District will attorn to and recognize the Subtenant under each Sublease and any transferee or assignee of any Subtenant’s interest acquiring such interest through foreclosure, or by assignment of any Sublease in lieu of foreclosure, of a Leasehold Mortgage as the direct tenant of the District under such Sublease; provided, the Subtenant or transferee or assignee shall deliver to the District an instrument confirming the agreement of such Subtenant or transferee or assignee to attorn to and recognize the District as such Subtenant’s or transferee’s or assignee’s landlord for the remainder of the term of such Sublease and upon the same terms and conditions contained in such Sublease. Such attornment shall be effective and self-operative immediately upon the termination of this Lease, without the execution of any further instrument on the part of the District, the Subtenant or any Leasehold Mortgagee. Upon request of any Leasehold Mortgagee or Subtenant, the District will execute and deliver and Tenant will execute and deliver, and will cause the NCMC Hospital Leasehold Mortgagee to execute and deliver, a Recognition Agreement to that effect, including the MOB Recognition Agreement and the Research Center Recognition Agreement.
Recognition Agreements. The Agent shall have received an executed counterpart of the Recognition Agreement and the CH1 Recognition Agreement.
Recognition Agreements. Borrowers and the Lenders acknowledge that Agent has entered into the Recognition Agreement and the CH1 Recognition Agreement. Borrowers acknowledge that the existence of the Recognition Agreement and the CH1 Recognition Agreement and the performance by Agent and the Lenders of their obligations under the Recognition Agreement and the CH1 Recognition Agreement shall not affect, impair or release the obligations of Borrowers under the Loan Documents. The Recognition Agreement and the CH1 Recognition Agreement are solely for the benefit of Agent and the Lenders and not for the benefit of Borrowers and Borrowers shall have no rights thereunder or any right to insist on the performance thereof. Agent is authorized by Lenders to perform its obligations under the Recognition Agreement and the CH1 Recognition Agreement, and each Lender agrees to be bound thereby. In addition, the Lenders acknowledge that in certain circumstances LBHI may purchase the Loan and the Loan Documents, and upon the exercise by LBHI of such rights, each Lender agrees to comply with the applicable provisions of the Recognition Agreement in connection with the sale of its interest in the Loan and the Loan Documents.
Recognition Agreements. Landlord shall, from time to time, within ten (10) business days after receiving written request from Tenant, execute and deliver to Tenant or its designee a commercially reasonable agreement recognizing such Subtenant and setting forth the agreements of Landlord contained in this Section 26 for the protection of Leasehold Mortgagees, and Tenant shall promptly reimburse Landlord for its reasonable attorneys’ fees incurred in the review and negotiation of such agreement.
Recognition Agreements. Upon Tenant’s request, Landlord shall enter into a commercially reasonable agreement to recognize the MMR Subleases of Tenant’s MMR Subtenants in the Building (including, without limitation, any Existing Tenant considering a new MMR Sublease with Tenant).
Recognition Agreements. Except as set forth in the Title Commitment, Seller has not entered into any Recognition Agreements other than those Recognition Agreements listed on Schedule 3.2(h) and a true, correct and complete copy of the Recognition Agreements have been made available to Buyer.
Recognition Agreements. Preferred Membership Interest Seller acknowledges that in connection with the Closing hereunder Purchaser may desire to enter into new recognition agreements in form substantially similar to the Recognition Agreements currently in effect with respect to the Mortgage Loans (such new recognition agreements, “Replacement Recognition Agreements”). Broad Street and Preferred Membership Interest Seller shall reasonably cooperate in good faith with Purchaser in connection with their pursuit of such Replacement Recognition Agreements (the “Replacement Recognition Agreement Covenant”), provided, however, that Purchaser acknowledges and agrees that Preferred Membership Interest Seller shall be deemed to have satisfied the Replacement Recognition Agreement Covenant solely by facilitating introductions between Purchaser and each lender under the Mortgage Loans for purposes of pursuing such Replacement Recognition Agreements. Purchaser shall keep Preferred Membership Interest Seller reasonably apprised as to the status of any such Replacement Recognition Agreements. Notwithstanding the foregoing or anything to the contrary contained herein, Purchaser acknowledges and agrees that the delivery of any such Replacement Recognition Agreements shall not be a condition precedent to Purchaser’s obligation to consummate the transactions contemplated hereby.