Rights of Leasehold Mortgagee Sample Clauses

Rights of Leasehold Mortgagee. The Parties acknowledge and agree that any Restoration Funds not applied to a Restoration as provided in this Section 13.3 shall be subject to the lien or liens of any Leasehold Mortgage.

Rights of Leasehold Mortgagee. A. Lessee may, without Lessor's consent, mortgage, pledge, grant deeds of trust, or otherwise encumber the leasehold estate created hereby and all or any portion of the right, title and interest of Lessee hereunder, and assign, hypothecate or pledge the same, as security for the payment of any debt to any holder or beneficiary of a deed of trust or mortgage securing the payment of indebtedness to Leasehold Mortgagee; provided, that no mortgagee, trustee, or other person claiming by, through or under any instrument creating any such encumbrance shall by virtue thereof acquire any greater right in the Leased Premises than Lessee then had under this Lease, except for the right expressly granted to such mortgagee, trustee or other person under the terms of this Lease; and provided further, that such mortgage, deed of trust or other instrument of encumbrance, and the indebtedness secured thereby, shall at all times be and remain subject to all of the conditions, covenants and obligations of this Lease and to all of the rights of Lessor hereunder. As to any such Leasehold Mortgage Lessor consents to provisions therein, at the option of Lessee, (a) for an assignment of Lessee's share of the net proceeds from any award or other compensation resulting from a total or partial (other than temporary) taking as set forth in Article X of this Lease, (b) for the entry of any Leasehold Mortgagee upon the Leased Premises during business hours, without notice to Lessor or Lessee, to view the state of the Leased Premises, (c) that a default by Lessee under this Lease shall constitute a default under any such leasehold mortgage, (d) for an assignment of Lessee's right, if any, to terminate, cancel, modify, change, supplement, alter or amend this Lease, (e) for an assignment of any sublease to which any such leasehold mortgage is subordinated, subject to the rights of Lessor hereunder, and (f) effective upon any default in any such leasehold mortgage, (i) for the foreclosure of the Leasehold Mortgage pursuant to a power of sale by judicial proceedings or other lawful means and the subsequent sale of the leasehold estate to the purchaser at the foreclosure sale and a sale by such purchaser or a sale by any subsequent purchaser, (ii) for the appointment of a receiver, irrespective of whether any Leasehold Mortgagee accelerates the maturity of all indebtedness secured by the Leasehold Mortgage, (iii) for the rights of the Leasehold Mortgagee or the receiver to enter and take poss...

Rights of Leasehold Mortgagee. Any Leasehold Mortgagee shall have the following rights, provided that a. Landlord has received notice of the name and notice address of the Leasehold Mortgagee or its servicing agent, and b. a copy of the Leasehold Mortgage has been delivered to Landlord: (a) Landlord will give the Leasehold Mortgagee a copy of any notice, demand or other communication from Landlord to Tenant alleging any default or failure on the part of Tenant or exercising any right or remedy under this Lease simultaneously with the giving of the notice to Tenant. No exercise by Landlord of any right or remedy with respect to any default or failure on the part of Tenant shall be permitted or effective until the notice provided for in the Paragraph (a) has been given and the cure period provided for in Paragraph (b) below has expired with the default or failure still uncured. (b) Following receipt of the notice required under Paragraph (a) above, the Leasehold Mortgagee shall have the following cure period to cure the default or failure: (i) twenty (20) days if the default or failure is a failure to pay Base Rent or Real Estate Taxes and (ii) thirty (30) days for any other default or failure, provided that if the default or failure cannot reasonably be cured within thirty (30) days and the Leasehold Mortgagee commences the cure within said thirty (30) day period, the thirty (30) day period shall be extended for such additional time as is required to cure the failure using due diligence and commercially reasonable efforts, which shall include such time as it necessary for the Leasehold Mortgagee to take possession of the Demised Premises pursuant to the Leasehold Mortgage, so long as (x) Base Rent and Real Estate Taxes remain current, (y) no enforcement action is being pursued against Landlord as a result of any violation of Laws with respect to the Demised Premises (or the Leasehold Mortgagee agrees to indemnify Landlord with respect thereto), and (z) the Leasehold Mortgagee shall commence and pursue in good faith obtaining possession of the Demised Premises. The Leasehold Mortgagee shall have the right but in no event the obligation to cure any default or failure under this Lease. The Leasehold Mortgagee may also abandon any cure or action for possession once commenced without being deemed to have assumed any obligation in favor of Landlord. (c) Landlord and Tenant shall not agree to cancel, terminate or amend this Lease without the consent of the Leasehold Mortgagee. Any cancellation,...

Rights of Leasehold Mortgagee. A Leasehold Mortgagee may enforce its rights under its Leasehold Mortgage and acquire title to the leasehold estate of Tenant in the Premises in any lawful manner but subject to the applicable provisions of this Lease. On foreclosure under the Leasehold Mortgage, a Leasehold Mortgagee may take possession of the Premises; subject, however, to the terms of this Lease, any lease between Tenant, as Landlord, and any Tenant in the Building and any Leasehold Mortgage that is senior in lien to the Leasehold Mortgage being foreclosed.

Rights of Leasehold Mortgagee. Landlord hereby agrees with and for the benefit of Leasehold Mortgagee that from and after the date that it delivers to Landlord the Notice referred to in Section 26.1 hereof, subject to the rights of Third Party Lessors:

Rights of Leasehold Mortgagee. Nothing contained in this ARTICLE 12 shall be construed so as to impair any rights of any Leasehold Mortgagee to any condemnation proceeds as its interest may appear, but in no event shall the Leasehold Mortgagee be entitled to any condemnation proceeds allocate or pertaining to Landlord’s ownership of the property subject to this Lease, including Landlord’s rights in the Common Areas. To the extent that any such proceeds are payable to any Leasehold Mortgagee such proceeds shall be paid out of the Tenant’s award only, as determined by the foregoing provisions of this ARTICLE 12, in the same proportions as such respective shares bear to the total condemnation award.

Rights of Leasehold Mortgagee. A leasehold mortgagee approved hereunder may enforce its rights under its mortgage and acquire title to the Tenant's leasehold estate in any lawful way, and upon foreclosure of such leasehold mortgage and issuance of a certificate of title, take possession of the Premises; subject, however, to the Lease, including, without limitation, the "Use" provisions hereof, all other terms, provisions, and conditions of the Lease, and any leasehold mortgage that is senior in lien to the leasehold mortgage in question. During such time as the leasehold mortgagee or any successor in interest is the owner and holder of the leasehold estate and Tenant's interest hereunder, whether by foreclosure or otherwise, such interests acquired hereunder shall be subject to all of the terms, conditions, and provisions of this Lease.

Rights of Leasehold Mortgagee. Notwithstanding any other provision of this Sublease to the contrary: (i) Leasehold Mortgagee shall have the absolute right to do one, some or all of the following: (i) assign its Mortgage; (ii) enforce its Mortgage; (iii) acquire title (whether by foreclosure, assignment in lieu of foreclosure or other means) to this Sublease or any sub-sublease (as the case may be);

Rights of Leasehold Mortgagee. Lessee, during the term of this Lease, shall not mortgage or otherwise encumber its leasehold estate or interest in any improvement hereafter situated upon the Land.