Common use of Rights of Mortgagee Clause in Contracts

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, the Buildings, or the Complex, and to each advance made or hereafter to be made under any mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor provided, however, that in consideration of and as a condition precedent to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site shall be the receipt of a commercially reasonable non-disturbance agreement from and wherein the applicable mortgagee expressly recognizes the rights of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the Complex) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's obligations hereunder. In confirmation of such subordination and recognition, Tenant shall execute and deliver promptly such instruments of subordination and recognition as such mortgagee may reasonably request subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably request. Tenant hereby appoints such mortgagee (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant in complying with such mortgagee's (from time to time) request. In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date of this Lease, shall so elect, this Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord shall obtain and deliver to Tenant, as a condition of the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease or xxxxxxxxx.

Appears in 5 contracts

Samples: Lease (Irobot Corp), Agreement (Irobot Corp), Agreement (Irobot Corp)

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Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, the Buildings, Building (or the Complex, and to each advance made or hereafter to be made under any mortgagepart thereof), and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor providedtherefor, however, provided that in consideration of and as a condition precedent to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site shall be the receipt case of a commercially reasonable non-disturbance agreement from and wherein future mortgage the applicable mortgagee expressly recognizes holder of such mortgage agrees to recognize the rights right of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the Complex) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's ’s obligations hereunder. In confirmation of such subordination and recognition, Tenant shall execute and deliver promptly such instruments of subordination and recognition as such mortgagee may reasonably request request, subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably request. request (Tenant hereby appoints such agreeing to pay any legal or other fees charged by the mortgagee (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant in complying connection with such mortgagee's (from time to time) requestproviding the same). In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, then this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date Date of this Lease, shall so elect, this Lease Lease, and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's ’s office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord If in connection with obtaining financing a bank, insurance company, pension trust or other institutional lender shall obtain and deliver to Tenant, request reasonable modifications in this Lease as a condition to such financing, Tenant will not unreasonably withhold, delay or condition its consent thereto, provided that such modifications do not increase the monetary obligations of Tenant hereunder or materially adversely affect the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease leasehold interest hereby created or xxxxxxxxxTenant’s rights hereunder.

Appears in 3 contracts

Samples: Lease Agreement (SEMrush Holdings, Inc.), Lease Agreement (SEMrush Holdings, Inc.), Flex Pharma, Inc.

Rights of Mortgagee. This Tenant accepts this Lease shall be subject and subordinate to any mortgage now recorded mortgage, deed of trust or hereafter on the Site, the Buildings, or the Complex, and to each advance made other lien presently existing or hereafter to be made exist with respect to the Leased Premises. Landlord is hereby irrevocably vested with full power and authority to subordinate Tenant's interest under this Lease to any mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor provided, however, that in consideration deed of and as a condition precedent to Tenant's agreement to subordinate this Lease with respect to mortgages trust or other lien hereafter placed on the Site shall be Leased Premises, and Tenant agrees upon demand to execute such additional instruments subordinating this Lease as Landlord or the receipt holder of a commercially reasonable non-disturbance agreement from and wherein any such mortgage, deed of trust, or lien may require. If the applicable mortgagee expressly recognizes the rights interests of Tenant Landlord under this Lease shall be transferred by reason of foreclosure or other proceedings for enforcement of any mortgage on the Leased Premises. Tenant shall be bound to the transferee (including sometimes called the right to use "Purchaser") under the terms and occupy the Premises and to lease additional premises at the Complex) upon the payment conditions of rent and other charges payable by Tenant under this Lease and for the performance by Tenant balance of Tenant's obligations hereunder. In confirmation of such subordination and recognitionthe remaining lease term, Tenant shall execute and deliver promptly such instruments of subordination and recognition as such mortgagee may reasonably request subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably request. Tenant hereby appoints such mortgagee (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant in complying with such mortgagee's (from time to time) request. In the event that including any mortgagee extensions or its respective successor in title shall succeed to the interest of Landlord, then, this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date of this Lease, shall so elect, this Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holderrenewals, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Purchaser were Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord shall obtain and deliver Tenant further agrees to Tenantattorn to the Purchaser, including the mortgagee under any such mortgage if it be the Purchaser, as a condition its Landlord. Such attornment shall be effective without the execution of any further instruments upon the Purchaser succeeding to the interest of Landlord under this Lease. The respective rights and obligations of Tenant and the Purchaser upon the attornment, to the extent of the effectiveness then remaining balance of the term of this Lease, and any extensions and renewals, shall be and are the same as those set forth in this Lease. Each such holder of any mortgage, deed of trust, or lien, and each such Purchaser, shall be a nonthird-disturbance agreement from the current mortgagee party beneficiary of the Premises and/or the Complex as of the date provisions of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease or xxxxxxxxxParagraph.

Appears in 3 contracts

Samples: Lease Agreement (Monitronics International Inc), Lease Agreement (Monitronics International Inc), Lease Agreement (Monitronics International Inc)

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, Site or the BuildingsBuilding, or the Complexboth, and to each advance made or hereafter to be made under any mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor provided, however, provided that in consideration the holder of and as a condition precedent such mortgage agrees to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site shall be the receipt of a commercially reasonable non-disturbance agreement from and wherein the applicable mortgagee expressly recognizes recognize the rights of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the ComplexPremises) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's obligations hereunder. In confirmation of such subordination and recognition, Tenant shall execute and deliver promptly such instruments of subordination and recognition as such mortgagee may reasonably request subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably request. Tenant hereby appoints such mortgagee (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant in complying with such mortgagee's (from time to time) request. In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date of this Lease, shall so elect, this Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice Notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord If in connection with obtaining financing a bank, insurance company, pension trust or other institutional lender shall obtain and deliver to Tenant, request reasonable modifications in this Lease as a condition to such financing, Tenant will not unreasonably withhold, delay or condition its consent thereto, provided that such modifications do not increase the monetary obligations of Tenant hereunder or materially adversely affect the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease or xxxxxxxxxleasehold interest hereby created.

Appears in 2 contracts

Samples: Agreement (Unica Corp), Agreement (Unica Corp)

Rights of Mortgagee. This Tenant accepts this Lease shall be subject and subordinate to any recorded Lease, mortgage now or deed of trust lien presently existing, if any, or hereafter on encumbering the Site, the Buildings, or the Complex, and to each advance made or hereafter to be made under any mortgage, Property and to all renewalsexisting ordinances and recorded restrictions, modificationscovenants, consolidationseasements, replacements and extensions thereof and all substitutions therefor provided, however, that in consideration of and as a condition precedent to Tenant's agreement to subordinate this Lease agreements with respect to mortgages the Property. Landlord hereby is irrevocably vested with full power and authority to subordinate Tenant’s interest under this Lease to any mortgage or deed of trust lien hereafter placed on the Site Property. Upon any foreclosure, judicially or non-judicially, of any such mortgage or lien, or the sale of the Property in lieu of foreclosure, or any other transfer of Landlord’s interest in the Property, whether or not in connection with a mortgage or lien (any of foregoing forms of transfer, a “Transfer”), Tenant hereby does, and hereafter agrees to attorn to the purchaser at such foreclosure or to any other transferee of Landlord’s interest, and shall recognize such purchaser, grantee, or other transferee as Landlord under this Lease, and no further attornment or other agreement shall be the receipt required to effect or evidence Tenant’s attornment to and recognition of a commercially reasonable non-disturbance such purchaser or grantee as Landlord hereunder. Such agreement from and wherein the applicable mortgagee expressly recognizes the rights of Tenant under this Lease (including to attorn shall survive any such foreclosure sale, trustee’s sale, conveyance in lieu thereof, or any other transfer of Landlord’s interest in the right Property. Tenant, upon demand, at any time before or after any such foreclosure sale, trustee’s sale, conveyance in lieu thereof, or other transfer shall execute, acknowledge and deliver to use and occupy the Premises and to lease additional premises at the Complex) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's obligations hereunder. In confirmation of such prospective transferee and/or mortgagee a subordination and recognitionattornment agreement in a form acceptable to such mortgagee, Tenant shall execute and deliver promptly any additional written instruments and certificates evidencing such instruments of subordination and recognition attornment as such the mortgagee or other prospective transferee may reasonably request subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably request. require, and Tenant hereby irrevocably appoints such mortgagee (from time to time) Landlord as Tenant's ’s agent and attorney-in-fact for the purpose of executing, acknowledging, and delivering any such instruments and certificates. Notwithstanding anything to execute such subordination upon default of Tenant the contrary set forth or implied in complying with such mortgagee's this Section: (from a) any mortgagee under any mortgage shall have the right at any time to time) request. In subordinate any such mortgage to this Lease on such terms and subject to such conditions as the mortgagee in its discretion may consider appropriate (specifically, without limitation, any such mortgagee may require that the casualty and condemnation provisions of this Lease remain subordinate to any applicable mortgage even in the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, Tenant shall and does hereby agree to attorn to such mortgagee or successor and chooses to recognize such mortgagee or successor as its landlord. If any holder subordinate the remainder of a mortgage which includes the Premises, executed and recorded prior to the date of this Lease, shall so elect, this Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. ); and (b) no transferee of Landlord’s interest in this Lease by way of any Transfer shall be responsible for or liable with respect to any representation, warranty, act, omission or default by Landlord shall obtain and deliver to Tenant, as a condition of the effectiveness of under this Lease, a non-disturbance agreement from or for the current mortgagee return of any Security Deposit (except to the Premises and/or the Complex as of the date of this Lease, extent to which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified such Security Deposit has been actually received by such changes as Tenant may request and such mortgagee may approvetransferee). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease or xxxxxxxxx.

Appears in 2 contracts

Samples: Office Lease (Pc Connection Inc), Office Lease (Pc Connection Inc)

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, the Buildings, Office Area (or the Complex, and to each advance made or hereafter to be made under any mortgagepart thereof), and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor providedtherefor, however, provided that in consideration of and as a condition precedent to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site shall be the receipt case of a commercially reasonable non-disturbance agreement from and wherein future mortgage the applicable mortgagee expressly recognizes holder of such mortgage agrees to recognize the rights right of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the Complex) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's ’s obligations hereunder. In confirmation of such subordination and recognition, Tenant shall execute and deliver promptly such commercially reasonable instruments of subordination and recognition as such mortgagee may reasonably request request, subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably request. request (Tenant hereby appoints such agreeing to pay any legal or other fees charged by the mortgagee (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant in complying connection with such mortgagee's (from time to time) requestproviding the same). In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, then this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date Date of this Lease, shall so elect, this Lease Lease, and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice Notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's ’s office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord shall obtain and deliver use commercially reasonable efforts to Tenant, as a condition of cause the effectiveness of this Lease, current mortgagee(s) to enter into a non-disturbance and attornment agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Leasewith Tenant, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by K, with such commercially reasonable changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner request, within sixty (60) days of the Complex andexecution of this Lease. If in connection with obtaining financing a bank, insurance company, pension trust or other institutional lender shall request reasonable modifications in this Lease as a condition to such financing, Tenant will not unreasonably withhold, delay or condition its consent thereto, provided that such modifications do not increase the monetary obligations of Tenant hereunder or materially adversely affect the date hereof, the Complex is not subject to any ground lease leasehold interest hereby created or xxxxxxxxxTenant’s rights hereunder.

Appears in 2 contracts

Samples: Agreement (Decibel Therapeutics, Inc.), Agreement (Decibel Therapeutics, Inc.)

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, Site or the BuildingsBuilding, or the Complex, and to each advance made or hereafter to be made under any mortgageboth, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor providedtherefor, however, provided that in consideration the holder of and as a condition precedent such mortgage agrees to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on recognize the Site shall be the receipt of a commercially reasonable non-disturbance agreement from and wherein the applicable mortgagee expressly recognizes the rights right of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the Complex) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's ’s obligations hereunder. In confirmation of such subordination and recognition, Tenant shall execute and deliver promptly such instruments of subordination and recognition as such mortgagee may reasonably request request, subject to receipt of such instruments of recognition non-disturbance from such mortgagee as Tenant may reasonably request. Tenant request (Landlord hereby appoints such agreeing to pay any legal or other fees charged by the mortgagee (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant in complying connection with such mortgagee's (from time to time) requestproviding the same). In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, then this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date Date of this Lease, shall so elect, this Lease Lease, and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice Notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's ’s office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord If in connection with obtaining financing a bank, insurance company, pension trust or other institutional lender shall obtain and deliver to Tenant, request reasonable modifications in this Lease as a condition to such financing, Tenant will not unreasonably withhold, delay or condition its consent thereto, provided that (i) such modifications do not increase the monetary obligations of Tenant hereunder or materially adversely affect the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement leasehold interest hereby created or Tenant’s rights hereunder and (ii) Landlord shall be responsible for the payment of all reasonable costs incurred by Tenant in the form attached hereto as Exhibit M (as the same may be modified by complying with such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex andas, as of the date hereoffor example, the Complex is not subject to any ground lease or xxxxxxxxxattorneys’ fees.

Appears in 2 contracts

Samples: Agreement (Akamai Technologies Inc), Agreement (Akamai Technologies Inc)

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter placed on the Site, Site or the BuildingsBuilding, or the Complex, and to each advance made or hereafter to be made under any mortgageboth, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor providedtherefor, however, provided that in consideration the holder of and as a condition precedent such mortgage agrees to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on recognize the Site shall be the receipt of a commercially reasonable non-disturbance agreement from and wherein the applicable mortgagee expressly recognizes the rights right of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the Complex) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's ’s obligations hereunder. In confirmation of such subordination and recognition, Tenant shall execute and deliver promptly such instruments of subordination and recognition as such mortgagee may reasonably request request, subject to receipt of such instruments of recognition non disturbance from such mortgagee as Tenant may reasonably request. Tenant request (Landlord hereby appoints agreeing (a) to use best efforts to obtain such subordination instruments from such mortgagee and (from time b) to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant pay any legal or other fees charged by the mortgagee in complying connection with such mortgagee's (from time to time) requestproviding the same). In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, then this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of in connection with obtaining financing a mortgage which includes the Premisesbank, executed and recorded prior to the date of this Leaseinsurance company, pension trust or other institutional lender shall so elect, request reasonable modifications in this Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord shall obtain and deliver to Tenant, as a condition to such financing, Tenant will not unreasonably withhold, delay or condition its consent thereto, provided that (i) such modifications do not increase the monetary obligations of Tenant hereunder or materially adversely affect the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement leasehold interest hereby created or Tenant’s rights hereunder and (ii) Landlord shall be responsible for the payment of all reasonable costs incurred by Tenant in the form attached hereto as Exhibit M (as the same may be modified by complying with such changes as Tenant may request and such mortgagee may approve)as, for example, attorneys’ fees. Landlord hereby represents and warrants to Tenant that Landlord there is no mortgage currently encumbering the fee simple owner of Building or the Complex and, as of the date hereof, the Complex is not subject to any ground lease or xxxxxxxxxSite.

Appears in 2 contracts

Samples: Lease (Care.com Inc), Lease (Care.com Inc)

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, Site or the BuildingsBuilding, or the Complexboth, and to each advance made or hereafter to be made under any mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor provided, however, provided that in consideration the holder of and as a condition precedent such mortgage agrees to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site shall be the receipt of a commercially reasonable non-disturbance agreement from and wherein the applicable mortgagee expressly recognizes recognize the rights of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the ComplexPremises) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's ’s obligations hereunder. In confirmation of such subordination and recognition, Tenant shall execute and deliver promptly such instruments of subordination and recognition as such mortgagee may reasonably request subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably requestrequest (Tenant hereby agreeing to pay any legal or other fees charged by the mortgagee in connection with providing the same). Tenant hereby appoints such mortgagee (from time to time) as Tenant's ’s attorney-in-fact to execute such subordination upon default of Tenant in complying with such mortgagee's ’s (from time to time) request. In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date of this Lease, shall so elect, this Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's ’s office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord If in connection with obtaining financing a bank, insurance company, pension trust or other institutional lender shall obtain and deliver to Tenant, request reasonable modifications in this Lease as a condition to such financing, Tenant will not unreasonably withhold, delay or condition its consent thereto, provided that such modifications do not increase the monetary obligations of Tenant hereunder or materially adversely affect the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex leasehold interest hereby created. Landlord represents and warrants that as of the date of this Lease, which said non-disturbance agreement shall be in Lease there is no mortgage on the form attached hereto as Exhibit M (as Site or the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease or xxxxxxxxxBuilding.

Appears in 2 contracts

Samples: Burlington Mall Road (Flexion Therapeutics Inc), Burlington Mall Road (Flexion Therapeutics Inc)

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, Site or the BuildingsBuilding, or the Complexboth, and to each advance made or hereafter to be made under any mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor provided, however, provided that in consideration the holder of and as a condition precedent such mortgage agrees to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site shall be the receipt of a commercially reasonable non-disturbance agreement from and wherein the applicable mortgagee expressly recognizes recognize the rights of Tenant under this Lease (including including, without limitation, the right to use and occupy the Premises and to lease additional premises at the ComplexPremises) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's ’s obligations hereunder. In confirmation hereunder as provided in a commercially reasonable form of such subordination subordination, non-disturbance and recognition, attornment agreement provided to Tenant shall execute and deliver promptly such instruments of subordination executed and recognition as such mortgagee may reasonably request subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably request. Tenant hereby appoints such mortgagee (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant in complying with delivered by such mortgagee's (from time to time) request. In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date of this Lease, shall so elect, this Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's ’s office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord shall obtain represents and deliver to Tenant, as a condition of warrants that there is no mortgage or ground lease encumbering the effectiveness of this Lease, a non-disturbance agreement from Building or the current mortgagee of the Premises and/or the Complex Site as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease or xxxxxxxxx.

Appears in 2 contracts

Samples: Lease (Amag Pharmaceuticals, Inc.), Work Agreement (Amag Pharmaceuticals Inc.)

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, Site or the BuildingsBuilding, or the Complexboth, and to each advance made or hereafter to be made under any mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor provided, however, provided that in consideration the holder of and as a condition precedent such mortgage agrees to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site shall be the receipt of a commercially reasonable non-disturbance agreement from and wherein the applicable mortgagee expressly recognizes recognize the rights of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the ComplexPremises) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant Xxxxxx of Tenant's Xxxxxx’s obligations hereunderhereunder pursuant to a commercially reasonable subordination, non-disturbance and attornment agreement (“SNDA”). In confirmation of such subordination and recognition, Tenant Xxxxxx shall execute and deliver promptly such instruments of subordination and recognition as such mortgagee may reasonably request subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably request. request (Tenant hereby appoints such agreeing to pay any legal or other fees charged by the mortgagee (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant in complying connection with such mortgagee's (from time to time) requestproviding the same). In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date of this Lease, shall so elect, this Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's ’s office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord shall obtain and deliver to Tenant, as a condition of the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease or xxxxxxxxx.

Appears in 2 contracts

Samples: Lease (Fractyl Health, Inc.), Lease (Fractyl Health, Inc.)

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, Site or the BuildingsBuilding, or the Complexboth, and to each advance made or hereafter to be made under any mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor provided, however, provided that in consideration the holder of and as a condition precedent such mortgage agrees to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site shall be the receipt of a commercially reasonable non-disturbance agreement from and wherein the applicable mortgagee expressly recognizes recognize the rights of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the ComplexPremises) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's obligations hereunderhereunder in which event Tenant shall agree to attorn to such holder and its successors as landlord. In confirmation of such subordination and recognition, Tenant shall execute and deliver promptly such instruments of subordination and recognition as such mortgagee may reasonably request subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably request. Tenant hereby appoints such mortgagee (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant in complying with such mortgagee's (from time to time) request. In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date of this Lease, shall so elect, this Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice Notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord If in connection with obtaining financing a bank, insurance company, pension trust or other institutional lender shall obtain and deliver to Tenant, request reasonable modifications in this Lease as a condition to such financing, Tenant will not unreasonably withhold, delay or condition its consent thereto, provided that such modifications do not increase the monetary or other obligations of Tenant hereunder or materially adversely affect the effectiveness leasehold interest hereby created, or materially decrease the obligations of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease or xxxxxxxxxhereunder.

Appears in 2 contracts

Samples: Synta Pharmaceuticals Corp, Synta Pharmaceuticals Corp

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, the Buildings, Building or the Complex, and to each advance made Lot or hereafter to be made under any mortgagepart thereof (“Mortgage”), and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor therefor, provided, however, that in consideration of and as a condition precedent to Tenant's ’s agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site Building shall be the receipt by Tenant of a commercially reasonable subordination, non-disturbance and attornment agreement from and wherein the applicable mortgagee expressly recognizes the rights (“SNDA”) in favor of Tenant under this Lease (including from such future mortgagee on such mortgagee’s standard form of SNDA with such commercially reasonable changes made thereto as may be reasonably acceptable to such mortgagee and Tenant; provided, however, that such SNDA shall provide that such mortgagee recognizes any abatement right set forth in Section 7.3(B) or offset rights set forth in Section 16.19(B) and in Section 3(B) of Exhibit 4.1. Subject to the right to use and occupy the Premises and to lease additional premises at the Complex) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's obligations hereunder. In foregoing, confirmation of such subordination and recognition, Tenant shall execute and deliver promptly such instruments of subordination and recognition as such mortgagee may reasonably request request, subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably request. Tenant hereby appoints such mortgagee (from time Subject to time) as Tenant's attorney-in-fact to execute such subordination upon default the terms of Tenant the applicable SNDA, in complying with such mortgagee's (from time to time) request. In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, then this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the PremisesMortgage, executed and recorded prior to the date Date of this Lease, shall so elect, this Lease Lease, and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice Notice hereof recorded, prior to the execution, delivery and recording of any such mortgageMortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's ’s office of an instrument in which such holder subordinates its rights under such mortgage Mortgage to this Lease. Landlord shall obtain shall, on or before January 15, 2016, cause the holder of the existing mortgagee affecting the Premises to execute and deliver an SNDA to Tenant, as a condition of the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement shall be Tenant in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease or xxxxxxxxx16.13.

Appears in 2 contracts

Samples: Lease Agreement (Hubspot Inc), Lease Agreement (Hubspot Inc)

Rights of Mortgagee. This Lease shall be subject and subordinate to the lien of any mortgage now or hereafter on the Site, Site or the BuildingsBuilding, or the Complexboth, and to each advance made or hereafter to be made under any mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor provided, however, provided that in consideration the holder of and as a condition precedent such mortgage agrees to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site shall be the receipt of a commercially reasonable non-disturbance agreement from and wherein the applicable mortgagee expressly recognizes recognize the rights of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the ComplexPremises) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's ’s obligations hereunder. In confirmation of such subordination and recognition, Tenant shall execute and deliver promptly such commercially reasonable instruments of subordination and recognition as such mortgagee may reasonably request subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably request. request (Tenant hereby appoints such agreeing to pay any legal or other fees charged by the mortgagee (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant in complying connection with such mortgagee's (from time to time) requestproviding the same). In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date of this Lease, shall so elect, this Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's ’s office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord If in connection with obtaining financing a bank, insurance company, pension trust or other institutional lender shall obtain and deliver to Tenant, request reasonable modifications in this Lease as a condition to such financing, Tenant will not unreasonably withhold, delay or condition its consent thereto, provided that such modifications do not increase the monetary obligations of Tenant hereunder or materially adversely affect the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease or xxxxxxxxxleasehold interest hereby created.

Appears in 2 contracts

Samples: Agreement (Proteon Therapeutics Inc), Agreement (Proteon Therapeutics Inc)

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, Site or the BuildingsBuilding, or the Complexboth, and to each advance made or hereafter to be made under any mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor provided, however, provided that in consideration the holder of and as a condition precedent such mortgage agrees to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site shall be the receipt of a commercially reasonable non-disturbance agreement from and wherein the applicable mortgagee expressly recognizes recognize the rights of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the ComplexPremises) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's ’s obligations hereunder. In confirmation of such subordination and recognition, Tenant shall execute and deliver promptly such instruments of subordination and recognition as such mortgagee may reasonably request subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably request. request (Tenant hereby appoints such agreeing to pay any legal or other fees charged by the mortgagee (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant in complying connection with such mortgagee's (from time to time) requestproviding the same). In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date of this Lease, shall so elect, this Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's ’s office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord shall obtain and deliver to Tenant, as a condition of the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord hereby represents and warrants to Tenant that Landlord there is no mortgage currently affecting the fee simple owner of Building or the Complex and, as of the date hereof, the Complex is not subject to any ground lease or xxxxxxxxxSite.

Appears in 1 contract

Samples: Work Agreement (Radius Health, Inc.)

Rights of Mortgagee. This Lease shall be subject and subordinate to any ------------------- mortgage now or hereafter on the Site, Property (or any part thereof) or the Buildings, or the Complex, and to each advance made or hereafter to be made under any mortgageboth, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor providedtherefor, howeverprovided that the holder of such mortgage agrees, that by a written instrument ("SNDA") in consideration of and the customary form required by such mortgagee as a condition precedent to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site shall be the receipt of a amended by such commercially reasonable non-disturbance agreement from changes as Tenant may request and wherein the applicable mortgagee expressly recognizes may reasonably approve, to recognize the rights right of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at exercise all other rights and privileges under the Complex) Lease upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's obligations hereunder. Tenant acknowledges and agrees that any SNDA shall require that Tenant provide to the holder of such mortgage written notice of any defaults of Landlord and commercially reasonable cure periods to be negotiated between Tenant and such holder. In confirmation of such subordination and recognition, Tenant shall execute and deliver promptly such instruments of subordination and recognition as such mortgagee may reasonably request subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably request. Tenant hereby appoints such mortgagee (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant in complying with such mortgagee's (from time to time) requestrecognition. In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, then this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date of this Lease, Premises shall so elect, this Lease Lease, and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice Notice hereof recorded, prior to the execution, delivery and recording of any such mortgage, even if Tenant had previously agreed to subordinate the Lease to such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord shall obtain and deliver to Tenant, as a condition of the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease or xxxxxxxxx.

Appears in 1 contract

Samples: Agreement (Parametric Technology Corp)

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, Site or the BuildingsBuilding, or the Complexboth, and to each advance made or hereafter to be made under any mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor provided, however, provided that in consideration the holder of and as a condition precedent such mortgage agrees to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site shall be the receipt of a commercially reasonable non-disturbance agreement from and wherein the applicable mortgagee expressly recognizes recognize the rights of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the ComplexPremises) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's ’s obligations hereunder. In confirmation of such subordination and recognition, Tenant shall execute and deliver promptly such instruments of subordination and recognition as such mortgagee may reasonably request subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably request. Tenant hereby appoints such mortgagee (from time to time) as Tenant's ’s attorney-in-fact to execute such subordination upon default of Tenant in complying with such mortgagee's ’s (from time to time) request. In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date of this Lease, shall so elect, this Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's ’s office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord If in connection with obtaining financing a bank, insurance company, pension trust or other institutional lender shall obtain and deliver to Tenant, request reasonable modifications in this Lease as a condition to such financing, Tenant will not unreasonably withhold, delay or condition its consent thereto, provided that such modifications do not increase the monetary obligations of Tenant hereunder or materially adversely affect the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease or xxxxxxxxxleasehold interest hereby created.

Appears in 1 contract

Samples: Agreement (Fleetmatics Group PLC)

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, the Buildings, Site or the Complex, Building(s) or portion thereof and to each advance made or hereafter to be made under any mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor providedprovided that the holder of such mortgage agrees. by a written instrument (an "SNDA") in the customary form required by such mortgagee as amended by such commercially reasonable changes as Tenant may request and the mortgagee may reasonably approve, however, that in consideration of and as a condition precedent to Tenant's agreement to subordinate recognize this Lease with respect to mortgages hereafter placed on the Site shall be the receipt of a commercially reasonable non-disturbance agreement from and wherein the applicable mortgagee expressly recognizes the rights of Tenant under this Lease hereunder (including the right to use and occupy the Premises and to lease additional premises at the ComplexPremises) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's obligations hereunder. Tenant acknowledges and agrees that any SNDA shall require that Tenant provide to the holder of such mortgage written notice of any defaults of Landlord and commercially reasonable cure periods to be negotiated between Tenant and such holder. In confirmation of such subordination and recognition, Tenant shall execute and deliver promptly such instruments of subordination and recognition as such mortgagee may reasonably request subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably request. Tenant hereby appoints such mortgagee (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant in complying with such mortgagee's (from time to time) request. In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date of this Lease, shall so elect, this Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice Notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord shall obtain and deliver to Tenant, as a condition of the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease or xxxxxxxxx.

Appears in 1 contract

Samples: Sublease (Datawatch Corp)

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, Site or the BuildingsBuilding, or the Complexboth, and to each advance made or hereafter to be made under any mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor provided, however, provided that in consideration the holder of and as a condition precedent such mortgage agrees to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site shall be the receipt of a commercially reasonable non-disturbance agreement from and wherein the applicable mortgagee expressly recognizes recognize the rights of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the ComplexPremises) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's ’s obligations hereunder. In confirmation of such subordination and recognition, Tenant shall execute and deliver promptly such instruments of subordination and recognition as such mortgagee may reasonably request subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably requestrequest (Tenant hereby agreeing to pay any legal or other fees charged by the mortgagee in connection with providing any instrument requested by Tenant). Tenant hereby appoints such mortgagee (from time to time) as Tenant's ’s attorney-in-fact to execute such subordination upon default of Tenant in complying with such mortgagee's ’s (from time to time) request. In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date of this Lease, shall so elect, this Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's ’s office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord If in connection with obtaining financing a bank, insurance company, pension trust or other institutional lender shall obtain and deliver to Tenant, request reasonable modifications in this Lease as a condition to such financing, Tenant will not unreasonably withhold, delay or condition its consent thereto, provided that such modifications do not increase the monetary obligations of Tenant hereunder or materially adversely affect the effectiveness of this Leaseleasehold interest hereby created. [***] INDICATES MATERIAL THAT WAS OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT WAS REQUESTED. ALL SUCH OMITTED MATERIAL WAS FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 PROMULGATED UNDER THE SECURITIES EXCHANGE ACT OF 1934, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease or xxxxxxxxxAS AMENDED.

Appears in 1 contract

Samples: Agreement (TESARO, Inc.)

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, Building (or any part thereof) or on the Buildings, fee interest (or the Complex, and to each advance made or hereafter to be made under any mortgagepart thereof) held by Ground Lessor (as defined in Section 16.13 below), and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor providedtherefor, howeverprovided that the holder of such mortgage enters into subordination, that in consideration of and as a condition precedent to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site shall be the receipt of a commercially reasonable non-disturbance agreement from and wherein the applicable mortgagee expressly recognizes the rights of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the Complex) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's obligations hereunder. In confirmation of such subordination and recognition, Tenant shall execute and deliver promptly such instruments of subordination and recognition as agreement with Tenant, in the standard form used by such mortgagee may reasonably request subject to receipt of holder, with such instruments of recognition from such mortgagee commercially reasonable changes as Tenant may reasonably request. Tenant hereby appoints such mortgagee request (from time to time) as “SNDA”), which may include an acknowledgment of Tenant's attorney-in-fact to execute such subordination upon default of Tenant ’s offset rights set forth in complying with such mortgagee's (from time to time) requestExhibit 2.1. In the event that any mortgagee or its respective successor in title shall succeed to the interest of LandlordLandlord or Ground Lessor, thenas applicable, then this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlordlandlord or ground lessor, as applicable. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date Date of this Lease, shall so elect, this Lease Lease, and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice Notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's ’s office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord If in connection with obtaining financing a bank, insurance company, pension trust or other institutional lender shall obtain and deliver to Tenant, request reasonable modifications in this Lease as a condition to such financing, Tenant will not unreasonably withhold, delay or condition its consent thereto, provided that such modifications do not increase the monetary obligations of Tenant hereunder or materially adversely affect the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease leasehold interest hereby created or xxxxxxxxxTenant’s rights hereunder.

Appears in 1 contract

Samples: Lease Agreement (Tango Therapeutics, Inc.)

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, the Buildings, Building (or the Complex, and to each advance made or hereafter to be made under any mortgagepart thereof), and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor providedtherefor, howeverprovided that the holder of such mortgage agrees in writing, that in consideration of and as a condition precedent recordable form, to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site shall be the receipt of a commercially reasonable non-disturbance agreement from and wherein the applicable mortgagee expressly recognizes recognize the rights of Tenant under this Lease (including so long as there is no Event of Default and such Tenant attorns to the right to use mortgagee and occupy its successors. Landlord, Tenant and the Premises and to lease additional premises holder of the existing mortgage on the Building shall, at the Complex) upon time of execution and delivery of this Lease, execute and deliver a subordination, nondisturbance and attornment agreement in the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's obligations hereunder. form attached hereto as Exhibit L. In confirmation of such subordination and subordination, recognition, and attornment with respect to any future mortgage, Landlord, Tenant and the holder of any future mortgage affecting the Building shall execute and deliver promptly a subordination, recognition and attornment agreement in the customary form required by such instruments of subordination and recognition as holder, with such mortgagee may reasonably request subject to receipt of such instruments of recognition from such mortgagee commercially reasonable changes as Tenant may reasonably request. Tenant hereby appoints such mortgagee request (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant in complying with such mortgagee's (from time to time) request“SNDA”). In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, then this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlordlandlord provided such mortgagee agrees to recognize all of Tenant’s rights under this Lease, subject to such commercially reasonable limitations of the liability of such mortgage holder and its successors as such holder may require in such SNDA. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date Date of this Lease, shall so elect, this Lease Lease, and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice Notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's ’s office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord If in connection with obtaining financing a bank, insurance company, pension trust or other institutional lender shall obtain and deliver to Tenant, request reasonable modifications in this Lease as a condition to such financing, Tenant will not unreasonably withhold, delay or condition its consent thereto, provided that such modifications do not increase the monetary obligations of Tenant hereunder or adversely affect the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease leasehold interest hereby created or xxxxxxxxxTenant’s rights hereunder.

Appears in 1 contract

Samples: Agreement (Brightcove Inc)

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, Site or the BuildingsBuilding, or the Complexboth, and to each advance made or hereafter to be made under any mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor therefore, provided, however, that in consideration of and as a condition precedent to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site shall be the receipt by Tenant of a commercially reasonable non-disturbance agreement from and wherein the applicable mortgagee expressly recognizes the rights of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the ComplexBuilding) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's obligations hereunder. In confirmation of such subordination and recognition, Tenant shall execute and deliver promptly such instruments of subordination and recognition (an "SNDA") as such mortgagee may reasonably request subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably request. Tenant hereby appoints The SNDA shall be in the customary form required by such mortgagee (from time to time) as Tenant's attorney-in-fact to execute amended by such subordination upon default of commercially reasonable changes as Tenant in complying with such mortgagee's (from time to time) requestmay reasonably req uire. In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any Ifany holder of a mortgage which includes the Premises, executed and recorded prior to the date of this Lease, shall so elect, this Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord shall obtain and deliver to Tenant, as a condition of the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex hereby represents that as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord there is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any no mortgage or ground lease currently encumbering the Building or xxxxxxxxxthe Site.

Appears in 1 contract

Samples: Agreement (Care.com Inc)

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, the Buildings, Building (or the Complex, and to each advance made or hereafter to be made under any mortgagepart thereof), and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor providedtherefor, however, provided that in consideration the case of and as a condition precedent future mortgage the holder of such mortgage agrees to Tenant's agreement to subordinate recognize this Lease with respect to mortgages hereafter placed on the Site shall be the receipt of a commercially reasonable non-disturbance agreement from and wherein the applicable mortgagee expressly recognizes the rights of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the Complex) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's obligations hereunder. In confirmation of such subordination and recognitionrecognition with respect to any future mortgage, Tenant shall execute and deliver promptly such instruments of subordination and recognition as such mortgagee may reasonably request request, subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably request. Tenant hereby appoints such With respect to the current mortgage identified on Exhibit I attached hereto, Landlord will use commercially reasonable efforts to cause the mortgagee (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant a subordination, nondisturbance and attornment agreement in complying with such mortgagee's (from time to time) request. substantially the form attached hereto as Exhibit M. In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, then this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date Date of this Lease, shall so elect, this Lease Lease, and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's ’s office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord If in connection with obtaining financing a bank, insurance company, pension trust or other institutional lender shall obtain and deliver to Tenant, request reasonable modifications in this Lease as a condition to such financing, Tenant will not unreasonably withhold, delay or condition its consent thereto, provided that such modifications do not materially increase the obligations of Tenant hereunder or materially adversely affect the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease leasehold interest hereby created or xxxxxxxxxTenant’s rights hereunder.

Appears in 1 contract

Samples: Agreement (Cra International, Inc.)

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, Site or the BuildingsBuilding, or the Complexboth, and to each advance made or hereafter to be made under any mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor provided, however, provided that in consideration the holder of and as a condition precedent such mortgage agrees to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site shall be the receipt of a commercially reasonable non-disturbance agreement from and wherein the applicable mortgagee expressly recognizes recognize the rights of Tenant under this Lease (including including, without limitation, the right to use and occupy the Premises and to lease additional premises at the ComplexPremises) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's ’s obligations hereunderhereunder as provided in a commercially reasonable form. In confirmation of such subordination and recognition, Tenant shall execute and deliver promptly such instruments of subordination and recognition as such mortgagee may reasonably request subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably request. Tenant hereby appoints such mortgagee (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant in complying with such mortgagee's (from time to time) request. In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date of this Lease, shall so elect, this Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's ’s office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord shall obtain represents and deliver to Tenant, as a condition of warrants that there is no mortgage or ground lease encumbering the effectiveness of this Lease, a non-disturbance agreement from Building or the current mortgagee of the Premises and/or the Complex Site as of the date of this Lease. As to any future mortgages, which said non-disturbance agreement Landlord shall be use reasonable efforts to obtain from such mortgagee a written instrument in recordable form and in the customary form attached hereto as Exhibit M (as the same may be modified by of such changes mortgagee, with such commercially reasonable revisions as Tenant may request and such mortgagee may approve). Landlord represents and warrants to accept (“Nondisturbance Agreement”) that, as long as there shall be no Event of Default of Tenant, Tenant that Landlord is the fee simple owner shall not be in default of the Complex andobligations on its part to be kept and performed under the terms of this Lease, as of the date hereofTenant’s possession hereunder will not be disturbed by any default in, the Complex is not subject to termination, and/or foreclosure of, such mortgage. Tenant shall be responsible for paying any ground lease fees or xxxxxxxxxexpenses charged by such mortgagee in connection with such Nondisturbance Agreement.

Appears in 1 contract

Samples: Waltham, Massachusetts (Allovir, Inc.)

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on recorded against the Site, the Buildings, Site or the ComplexBuilding (or any part thereof or both), and to each advance made or hereafter to be made under any mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor providedtherefor, however, provided that in consideration of and as a condition precedent to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site shall be the receipt case of a commercially reasonable non-disturbance agreement from and wherein future mortgage the applicable mortgagee expressly recognizes the rights of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the Complex) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's obligations hereunder. In confirmation holder of such subordination and recognition, Tenant shall execute and deliver promptly such instruments of subordination and recognition mortgage enters into an SNDA (as such mortgagee may reasonably request subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably request. Tenant hereby appoints such mortgagee (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant in complying with such mortgagee's (from time to time) requestdefined below). In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, then this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date Date of this Lease, shall so elect, this Lease Lease, and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's ’s office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord If in connection with obtaining financing a bank, insurance company, pension trust or other institutional lender shall obtain and deliver to Tenant, request reasonable modifications in this Lease as a condition to such financing, Tenant will not unreasonably withhold, delay or condition its consent thereto, provided that (i) such modifications do not increase the monetary obligations of Tenant hereunder or materially adversely affect the effectiveness leasehold interest hereby created or Tenant’s rights hereunder and (ii) Landlord shall be responsible for the payment of all reasonable costs incurred by Tenant in complying with such request such as, for example, attorneys’ fees. Landlord agrees to cause the holder of any mortgage encumbering the Site in the future to enter into a subordination, non-disturbance and attornment agreement (an “SNDA”) with Tenant, which SNDA shall be on such holder’s standard form (with such modifications thereto requested by Tenant that such mortgage holder may reasonably approve), and that provides, among other things, that so long as Tenant is not in an Event of Default under this Lease, a non-disturbance agreement from the current mortgagee foreclosure or other enforcement of such mortgage shall not terminate Tenant’s right to possession of the Premises and/or and that Tenant’s rights under this Lease shall be recognized by the Complex holder of such mortgage to the extent and subject to the limitations in the SNDA. Landlord shall not be obligated to pay any fee or reimburse any costs of such holder. If such holder conditions its agreement to enter into such SNDA upon any such payment or reimbursement, any such costs associated with changes requested to such holder’s standard form shall be the sole responsibility of Tenant. Landlord represents and warrants that no mortgage encumbers the Site as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease or xxxxxxxxx.

Appears in 1 contract

Samples: Translate Bio, Inc.

Rights of Mortgagee. Landlord hereby represents that there is no mortgage currently encumbering the Building. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, the BuildingsBuilding, or the Complex, and to each advance made or hereafter to be made under any mortgagepart thereof, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor providedtherefor, howeverprovided that, unless such mortgage provides by its terms that it is subordinate to this Lease, Landlord shall cause the holder of such mortgage to agree, by a written instrument in consideration the customary form of and as a condition precedent to Tenant's agreement to subordinate this Lease such mortgagee, with respect to mortgages hereafter placed on the Site shall be the receipt of a such commercially reasonable non-disturbance agreement from changes as Tenant and wherein such mortgagee agree upon, to recognize the applicable mortgagee expressly recognizes the rights right of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the Complex) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's ’s obligations hereunder. In confirmation of such subordination and recognition, Tenant shall execute and deliver promptly such instruments of subordination and recognition as such mortgagee may reasonably request request, subject to receipt of such instruments of recognition from the delivery by such mortgagee as Tenant may reasonably request. Tenant hereby appoints such mortgagee (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant the recognition agreement described in complying with such mortgagee's (from time to time) requestthe immediately preceding sentence. In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, then this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date Date of this Lease, shall so elect, this Lease Lease, and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice Notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's ’s office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord shall obtain and deliver to Tenant, as a condition of the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease or xxxxxxxxx.

Appears in 1 contract

Samples: Federal Home Loan Bank of Boston

Rights of Mortgagee. This Tenant accepts this Lease shall be subject and subordinate to any mortgage now recorded mortgage, deed of trust or hereafter on other lien presently existing upon the Site, the Buildings, or the Complex, Leased Premises. Landlord is hereby irrevocably vested with full power and authority to each advance made or hereafter subordinate Tenant's interest under this Lease to be made under any mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor provided, however, that in consideration deed of and as a condition precedent to Tenant's agreement to subordinate this Lease with respect to mortgages trust or other lien hereafter placed on the Site shall be Leased Premises, and Tenant agrees upon demand to execute such additional instruments subordinating this Lease as Landlord or the receipt holder of a commercially reasonable non-disturbance agreement from and wherein any such mortgage, deed of trust, or lien may require. If the applicable mortgagee expressly recognizes the rights interests of Tenant Landlord under this Lease (including shall be transferred by reason of foreclosure or other proceedings for enforcement of any mortgage on the right to use and occupy the Premises and to lease additional premises at the Complex) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's obligations hereunder. In confirmation of such subordination and recognitionLeased Premises, Tenant shall execute and deliver promptly such instruments of subordination and recognition as such mortgagee may reasonably request subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably request. Tenant hereby appoints such mortgagee (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant in complying with such mortgagee's (from time to time) request. In the event that any mortgagee or its respective successor in title shall succeed be bound to the interest transferee (sometimes called the "Purchaser") under the terms and conditions of Landlord, then, this Lease shall nevertheless continue in full force and effect andfor the balance of the remaining Lease term, provided Tenant has received the non-disturbance agreement required under this Section 8.15, Tenant shall and does hereby agree to attorn to such mortgagee including any extensions or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date of this Lease, shall so elect, this Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holderrenewals, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Purchaser were Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord shall obtain and deliver Tenant further agrees to Tenantattorn to the Purchaser, including the mortgagee under any such mortgage if it be the Purchaser, as a condition its Landlord. Such attornment shall be effective without the execution of any further instruments upon the Purchaser succeeding to the interest of Landlord under this Lease. The respective rights and obligations of Tenant and the Purchaser upon the attornment, to the extent of the effectiveness then remaining balance of the term of this Lease, and any extensions and renewals, shall be and are the same as those set forth in this Lease. Each such holder of any mortgage, deed of trust, or lien, and each such Purchaser, shall be a nonthird-disturbance agreement from the current mortgagee party beneficiary of the Premises and/or the Complex as of the date provisions of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease or xxxxxxxxxArticle.

Appears in 1 contract

Samples: Office (Bell Microproducts Inc)

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, Site or the BuildingsBuilding, or the Complexboth, and to each advance made or hereafter to be made under any mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor provided, however, that in consideration of provided and as a condition precedent to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site shall be express condition that the receipt holder of a commercially reasonable non-disturbance agreement from and wherein the applicable mortgagee expressly recognizes such mortgage agrees to recognize the rights of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the ComplexPremises) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's ’s obligations hereunderhereunder and Tenant agrees to attorn to the mortgagee and its successors and assigns. In confirmation of such subordination subordination, recognition and recognitionattornment, Tenant Tenant, such mortgagee and Landlord shall execute and deliver promptly such instruments of subordination subordination, recognition and recognition as attornment, reasonably acceptable to Tenant, such mortgagee may reasonably request subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably request. Tenant hereby appoints such mortgagee (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant in complying with such mortgagee's (from time to time) requestand Landlord. In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date of this Lease, shall so elect, this Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice Notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's ’s office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord If in connection with obtaining financing a bank, insurance company, pension trust or other institutional lender shall obtain and deliver to Tenant, request reasonable modifications in this Lease as a condition to such financing, Tenant will not unreasonably withhold, delay or condition its consent thereto, provided that such modifications do not increase the monetary obligations of Tenant hereunder or materially adversely affect the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease or xxxxxxxxxleasehold interest hereby created.

Appears in 1 contract

Samples: Commencement Date Agreement (Indevus Pharmaceuticals Inc)

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, Site or the BuildingsBuilding, or the Complexboth, and to each advance made or hereafter to be made under any mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor provided, however, provided that in consideration the holder of and as a condition precedent such mortgage agrees to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site shall be the receipt of a commercially reasonable non-disturbance agreement from and wherein the applicable mortgagee expressly recognizes recognize the rights of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the ComplexPremises) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's ’s obligations hereunder. In confirmation of such subordination and recognition, Tenant shall execute and deliver promptly such instruments of subordination and recognition as such mortgagee may reasonably request subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably request. Tenant hereby appoints such mortgagee (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant in complying with such mortgagee's (from time to time) request. In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date of this Lease, shall so elect, this Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice Notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's ’s office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord shall obtain and deliver to Tenant, as a condition of the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease or xxxxxxxxx.

Appears in 1 contract

Samples: Vistaprint LTD

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, Site or the BuildingsBuilding, or the Complexboth, and to each advance made or hereafter to be made under any mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor provided, however, provided that in consideration the holder of and as a condition precedent such mortgage agrees to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site shall be the receipt of a commercially reasonable non-disturbance agreement from and wherein the applicable mortgagee expressly recognizes recognize the rights of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the ComplexPremises) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's ’s obligations hereunderhereunder in which event Tenant shall agree to attorn to such holder and its successors as landlord. In confirmation of such subordination and recognition, Tenant shall execute and deliver promptly such instruments of subordination and recognition as such mortgagee may reasonably request subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably requestrequest (Tenant hereby agreeing to pay any legal or other fees charged by the mortgagee in connection with providing the same). Tenant hereby appoints such mortgagee (from time to time) as Tenant's ’s attorney-in-fact to execute such subordination upon default of Tenant in complying with such mortgagee's ’s (from time to time) request. In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date of this Lease, shall so elect, this Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's ’s office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord If in connection with obtaining financing a bank, insurance company, pension trust or other institutional lender shall obtain and deliver to Tenant, request reasonable modifications in this Lease as a condition to such financing, Tenant will not unreasonably withhold, delay or condition its consent thereto, provided that such modifications do not increase the monetary obligations of Tenant hereunder or materially adversely affect the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approveleasehold interest hereby created. 91 Hxxxxxxx Avenue\Leases\T2 Biosystems(B). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease or xxxxxxxxx.

Appears in 1 contract

Samples: T2 Biosystems, Inc.

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, Premises (the Buildings, premises leased hereunder) or the Facilities or the Complex, and to each advance made made, or hereafter to be made made, under any mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor provided, however, therefor; provided that in consideration the holder of and as a condition precedent such mortgage agrees to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site shall be the receipt of a commercially reasonable non-disturbance agreement from and wherein the applicable mortgagee expressly recognizes recognize the rights of Tenant --------------------------------------------------------------------------- the Lessee under this Lease (including the right to use and occupy the Premises and to lease additional premises at the Complex--------------------------- Premises) upon the payment of rent and other charges payable by Tenant the Lessee under this Lease and the performance by Tenant the Lessee of Tenant's the obligations of the Lessee hereunder. In confirmation of such subordination and recognition, Tenant the Lessee shall execute and deliver promptly such instruments of subordination and recognition as such mortgagee may reasonably request subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably request. Tenant hereby appoints such mortgagee (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant in complying with such mortgagee's (from time to time) request. In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlordthe Lessor, then, this Lease shall nevertheless continue in full force and effect and, provided Tenant has received and the non-disturbance agreement required under this Section 8.15, Tenant Lessee shall attorn ------ (and does hereby agree to attorn attorn) to such mortgagee or successor successor; and to ------ recognize such mortgagee or successor as its landlord. If With respect to any holder of a mortgage (which includes the Premises, ) that has been executed and recorded prior to the date of this Lease, if the holder of ----- said mortgage shall so elect, this Lease and the rights of Tenant Lessee hereunder, shall be superior in right to the rights of such holder, with -------- the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice hereof Notice thereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant the Lessee (which notice shall be given in the same fashion as notices from Landlord the Lessor to Tenant the Lessee are to be given hereunder hereunder) or by the recording in the appropriate registry or recorder's office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord If in connection with obtaining financing for the Premises (the premises leased hereunder) or the Complex or Facilities, a bank, insurance company, pension trust or other institutional lender shall obtain and deliver to Tenant, request reasonable modifications in this Lease as a condition to such financing, the Lessee will not unreasonably withhold, delay or condition its consent thereto; provided that such modifications do not increase the monetary obligations of the effectiveness of this Lease, a non-disturbance agreement from Lessee hereunder or materially adversely affect the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease or xxxxxxxxxleasehold interest hereby created.

Appears in 1 contract

Samples: Indenture of Lease (General Scanning Inc \Ma\)

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, the Buildings, Building (or the Complex, and to each advance made or hereafter to be made under any mortgagepart thereof), and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor providedtherefor, however, provided that in consideration of and as a condition precedent to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site shall be the receipt case of a commercially reasonable non-disturbance agreement from and wherein future mortgage the applicable mortgagee expressly recognizes holder of such mortgage agrees to recognize the rights right of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the Complex) upon the payment of rent and other charges payable by Tenant under this Lease Xxxxx and the performance by Tenant of Tenant's ’s obligations hereunder. In confirmation of such subordination and recognition, Tenant Xxxxxx shall execute and deliver promptly such instruments of subordination and recognition as such mortgagee may reasonably request request, subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably request. The form of Subordination, Nondisturbance and Attornment Agreement to be entered into between Tenant hereby appoints and the holder of the mortgagee affecting the Building as of the Execution Date of this Lease is attached hereto as Exhibit K. This Lease shall not be binding upon Tenant until the holder of the mortgage which affects the Building as of the Execution Date executes such mortgagee (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant in complying with such mortgagee's (from time to time) requestSubordination Nondisturbance and Attornment Agreement. In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, then this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date Date of this Lease, shall so elect, this Lease Lease, and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice Notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's ’s office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord shall obtain and deliver to Tenant, as a condition of the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease or xxxxxxxxx.

Appears in 1 contract

Samples: Havas

Rights of Mortgagee. This Landlord hereby represents to Tenant that the only mortgage encumbering the Property as of the date of this Lease is held by Cambridge Savings Bank. Landlord hereby agrees to provide to Tenant a Subordination Non-Disturbance Agreement (as defined below) from Cambridge Savings Bank with respect to this Lease Any mortgage or other voluntary lien or other encumbrance recorded subsequent to the recording of the notice of this Lease shall be subject and subordinate to this Lease unless Landlord and the holder of any such subsequent mortgage now or hereafter on and the Site, the Buildings, or the Complex, and holders of all mortgages prior to each advance made or hereafter to be made under any mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor provided, however, that in consideration of and as a condition precedent to Tenant's agreement such subsequent mortgage elect to subordinate this Lease to such subsequent mortgage and to any and all advances thereafter made thereunder and to the interest of the holder thereof in the Premises, such election to be exercisable by Landlord and all such holders by filing with respect the appropriate recording office (a) a notice of such election and (b) an agreement (“Subordination Non-Disturbance Agreement”) between the holder of such subsequent mortgage and Tenant, consented to by holders of all mortgages hereafter placed on having priority over such subsequent mortgage, by the Site shall be the receipt terms of a commercially reasonable non-disturbance agreement from and wherein the applicable mortgagee expressly recognizes which such holder will agree to recognize the rights of Tenant under this Lease (including the right and to use and occupy accept Tenant as tenant of the Premises under the terms and to lease additional premises at the Complex) upon the payment conditions of rent and other charges payable by Tenant under this Lease in the event of acquisition of title by such holder through foreclosure proceedings or otherwise and Tenant will agree to recognize the performance by Tenant of Tenant's obligations hereunder. In confirmation holder of such subordination subsequent mortgage as Landlord in such event, which agreement shall be made expressly to bind and recognition, inure to the benefit of the successors and assigns of Tenant shall and of such holder and upon anyone purchasing said Premises at any foreclosure sale brought by such holder. Tenant and Landlord agree to execute and deliver promptly any appropriate instruments necessary to carry out the agreements contained in this Section 14.15. Any such instruments of subordination subsequent mortgage to which this Lease is subordinated may contain such terms, provisions and recognition conditions as such mortgagee may reasonably request subject the holder deems usual or customary. Subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably request. Tenant hereby appoints such mortgagee (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant the forgoing, in complying with such mortgagee's (from time to time) request. In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, then this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date of this Lease, shall so elect, this Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord shall obtain and deliver to Tenant, as a condition of the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease or xxxxxxxxxLandlord.

Appears in 1 contract

Samples: Lease Agreement (Abington Bancorp Inc)

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Rights of Mortgagee. This Subject to the terms and conditions of this Section 9.14, the lien of this Lease shall be subject and subordinate to the lien of any mortgage now or hereafter on the Site, Site or the BuildingsBuilding, or the Complexboth, and to each advance made or hereafter to be made under any mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor providedtherefor, howeverprovided that, that in consideration of and as a condition precedent to Tenant's agreement such subordination, the holder of any mortgage hereafter encumbering the Building agrees in writing, in recordable form, to subordinate recognize this Lease with respect to mortgages hereafter placed on the Site shall be the receipt of a commercially reasonable non-disturbance agreement from and wherein the applicable mortgagee expressly recognizes the rights of Tenant under this Lease (including so long as there is no Event of Default and Tenant attorns to the right mortgagee and its successors, pursuant to use the terms and occupy conditions of a subordination, non-disturbance and attornment agreement in the Premises and to lease additional premises at the Complex) upon the payment of rent and other charges payable customary form required by Tenant under this Lease and the performance by Tenant of Tenant's obligations hereunder. In confirmation of such subordination and recognitionholder, Tenant shall execute and deliver promptly with such instruments of subordination and recognition as such mortgagee may reasonably request subject to receipt of such instruments of recognition from such mortgagee commercially reasonable changes as Tenant may reasonably request. Tenant hereby appoints such mortgagee request (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant in complying with such mortgagee's (from time to time) request“SNDA”). In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date of this Lease, shall so elect, this Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's ’s office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord shall obtain and deliver to Tenant, as a condition of the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex hereby represents that as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord there is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any no mortgage or ground lease or xxxxxxxxxcurrently encumbering the Building.

Appears in 1 contract

Samples: Lionbridge Technologies Inc /De/

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, the Buildings, Building or the Complex, and to each advance made or hereafter to be made under any mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor therefor, provided, however, that in consideration of and as a condition precedent to Tenant's ’s agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site Building or the Complex shall be the receipt by Tenant of a commercially reasonable non-disturbance subordination, non‑disturbance and attornment agreement (an “SNDA”) from and wherein the applicable mortgagee expressly recognizes the rights of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the ComplexPremises) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's ’s obligations hereunder. In confirmation of such subordination and recognition, Tenant shall execute and deliver promptly such instruments of subordination and recognition as SNDA. The SNDA shall be in the customary form required by such mortgagee may reasonably request subject to receipt of as amended by such instruments of recognition from such mortgagee commercially reasonable changes as Tenant may reasonably request. Tenant hereby appoints such mortgagee (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant in complying with such mortgagee's (from time to time) requestrequire. In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date of this Lease, shall so elect, this Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's ’s office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord shall obtain and deliver to Tenant, as a condition of the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease or xxxxxxxxx.

Appears in 1 contract

Samples: Work Agreement (Mimecast LTD)

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, Site or the BuildingsBuilding, or the Complexboth, and to each advance made or hereafter to be made under any mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor provided, however, provided that in consideration of and as a condition precedent to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site shall be the receipt case of a commercially reasonable non-disturbance agreement from and wherein future mortgage the applicable mortgagee expressly recognizes holder of such mortgage agrees to recognize the rights of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the ComplexPremises) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's ’s obligations hereunder. In confirmation of such subordination and recognition, Tenant shall execute and deliver promptly such instruments of subordination and recognition as such mortgagee may reasonably request subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably requestrequest (Tenant hereby agreeing to pay any legal or other fees charged by the mortgagee in connection with any changes to such instruments requested by Tenant). Tenant hereby appoints such mortgagee (from time to time) as Tenant's ’s attorney-in-fact to execute such subordination upon default of Tenant in complying with such mortgagee's ’s (from time to time) request. In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date of this Lease, shall so elect, this Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's ’s office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord If in connection with obtaining financing for the Building or Complex, a bank, insurance company, pension trust or other institutional lender shall obtain and deliver to Tenant, request reasonable modifications in this Lease as a condition to such financing, Tenant will not unreasonably withhold, delay or condition its consent thereto, provided that such modifications do not increase the monetary obligations of Tenant hereunder or materially adversely affect the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request leasehold interest hereby created and such mortgagee may approve). Landlord represents and warrants to Tenant provided that Landlord is pay for any reasonable fees incurred in connection with the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease or xxxxxxxxxsame.

Appears in 1 contract

Samples: Agreement (Dynatrace Holdings LLC)

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, Site or the BuildingsBuilding, or the Complex, and to each advance made or hereafter to be made under any mortgageboth, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor providedtherefor, however, provided that in consideration the holder of and as a condition precedent such mortgage agrees to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on recognize the Site shall be the receipt of a commercially reasonable non-disturbance agreement from and wherein the applicable mortgagee expressly recognizes the rights right of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the Complex) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's obligations hereunder. In confirmation of such subordination and recognition, Tenant shall execute and deliver promptly such instruments of subordination and recognition as such mortgagee may reasonably request request, subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably request. Tenant hereby appoints such mortgagee (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant in complying with such mortgagee's (from time to time) request. In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, then this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date Date of this Lease, shall so electelect this Lease, this Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice Notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord If in connection with obtaining financing for the Demised Premises a bank, insurance company, pension trust or other institutional lender shall obtain and deliver to Tenant, request reasonable modifications in this Lease as a condition to such financing, Tenant will not unreasonably withhold, delay or condition its consent thereto, provided that such modifications do not increase the monetary obligations of Tenant hereunder or materially adversely affect the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease leasehold interest hereby created or xxxxxxxxxTenant's rights hereunder.

Appears in 1 contract

Samples: Streamline Inc

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter placed on the Site, Site or the BuildingsBuilding, or the Complex, and to each advance made or hereafter to be made under any mortgageboth, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor providedtherefor, however, provided that in consideration the holder of and as a condition precedent such mortgage agrees to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on recognize the Site shall be the receipt of a commercially reasonable non-disturbance agreement from and wherein the applicable mortgagee expressly recognizes the rights right of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the Complex) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's ’s obligations hereunder. In confirmation of such subordination and recognition, Tenant shall execute and deliver promptly such instruments of subordination and recognition as such mortgagee may reasonably request request, subject to receipt of such instruments of recognition non-disturbance from such mortgagee as Tenant may reasonably request. Tenant request (Landlord hereby appoints such agreeing to pay any legal or other fees charged by the mortgagee (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant in complying connection with such mortgagee's (from time to time) requestproviding the same). In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, then this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date Date of this Lease, shall so elect, this Lease Lease, and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice Notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's ’s office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord If in connection with obtaining financing a bank, insurance company, pension trust or other institutional lender shall obtain and deliver to Tenant, request reasonable modifications in this Lease as a condition to such financing, Tenant will not unreasonably withhold, delay or condition its consent thereto, provided that (i) such modifications do not increase the monetary obligations of Tenant hereunder or materially adversely affect the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement leasehold interest hereby created or Tenant’s rights hereunder and (ii) Landlord shall be responsible for the payment of all reasonable costs incurred by Tenant in the form attached hereto as Exhibit M (as the same may be modified by complying with such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex andas, as of the date hereoffor example, the Complex is not subject to any ground lease or xxxxxxxxxattorneys’ fees.

Appears in 1 contract

Samples: Agreement (Constant Contact, Inc.)

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, Site or the BuildingsBuilding, or the Complexboth, and to each advance made or hereafter to be made under any mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor provided, however, provided that in consideration the holder of and as a condition precedent such mortgage agrees to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site shall be the receipt of a commercially reasonable non-disturbance agreement from and wherein the applicable mortgagee expressly recognizes recognize the rights of Tenant under this Lease (including including, without limitation, the right to use and occupy the Premises and to lease additional premises at the ComplexPremises) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's ’s obligations hereunder. In confirmation of such subordination and recognition, Tenant shall execute and deliver promptly such commercially reasonable instruments of subordination and recognition as such mortgagee may reasonably request subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably request. request (Tenant hereby appoints such agreeing to pay any legal or other fees charged by the mortgagee (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant in complying connection with such mortgagee's (from time to time) requestproviding the same). In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date of this Lease, shall so elect, this Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's ’s office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord shall obtain represents and deliver to Tenant, as a condition of warrants that there is no mortgage or ground lease encumbering the effectiveness of this Lease, a non-disturbance agreement from Building or the current mortgagee of the Premises and/or the Complex Site as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease or xxxxxxxxx.

Appears in 1 contract

Samples: Hayden Avenue (Amag Pharmaceuticals Inc.)

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, Site or the BuildingsBuilding, or the Complexboth, and to each advance made or hereafter to be made under any mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor therefore, provided, however, that in consideration of and as a condition precedent to Tenant's ’s agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site shall be the receipt by Tenant of a commercially reasonable non-disturbance agreement from and wherein the applicable mortgagee expressly recognizes the rights of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the ComplexBuilding) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's ’s obligations hereunder. In confirmation of such subordination and recognition, Tenant shall execute and deliver promptly such instruments of subordination and recognition (an “SNDA”) as such mortgagee may reasonably request subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably request. Tenant hereby appoints The SNDA shall be in the customary form required by such mortgagee (from time to time) as Tenant's attorney-in-fact to execute amended by such subordination upon default of commercially reasonable changes as Tenant in complying with such mortgagee's (from time to time) requestmay reasonably require. In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date of this Lease, shall so elect, this Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's ’s office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord shall obtain and deliver to Tenant, as a condition of the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex hereby represents that as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord there is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any no mortgage or ground lease currently encumbering the Building or xxxxxxxxx.the Site. 101

Appears in 1 contract

Samples: Phase Forward Inc

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, Site or the BuildingsBuilding, or the Complexboth, and to each advance made or hereafter to be made under any mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor providedtherefor, however, provided that in consideration the holder of and as a condition precedent such mortgage agrees to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site shall be the receipt of a commercially reasonable non-disturbance agreement from and wherein the applicable mortgagee expressly recognizes recognize the rights of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the ComplexPremises) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's ’s obligations hereunder. In confirmation of such subordination and recognition, Tenant shall execute and deliver promptly such instruments of subordination and recognition (an “SNDA”) as such mortgagee may reasonably request subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably requestrequest (Tenant hereby agreeing to pay any legal or other fees charged by the mortgagee in connection with providing the same). The SNDA shall be in the customary form required by such mortgagee as amended by such commercially reasonable changes as Tenant may reasonably require. Tenant hereby appoints such mortgagee (from time to time) as Tenant's ’s attorney-in-fact to execute such subordination upon default of Tenant in complying with such mortgagee's ’s (from time to time) request. In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date of this Lease, shall so elect, this Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's ’s office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord shall obtain and deliver to Tenant, as a condition of the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex hereby represents that as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord there is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any no mortgage or ground lease currently encumbering the Building or xxxxxxxxxthe Property. If in connection with obtaining financing a bank, insurance company, pension trust or other institutional lender shall request reasonable modifications in this Lease as a condition to such financing, Tenant will not unreasonably withhold, delay or condition its consent thereto, provided that such modifications do not increase the monetary obligations of Tenant hereunder or materially adversely affect the leasehold interest hereby created.

Appears in 1 contract

Samples: Hayden Avenue (Dicerna Pharmaceuticals Inc)

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, the Buildings, Building (or the Complex, and to each advance made or hereafter to be made under any mortgagepart thereof), and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor providedtherefor, however, provided that in consideration of and as a condition precedent to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site shall be the receipt case of a commercially reasonable non-disturbance agreement from and wherein future mortgage the applicable mortgagee expressly recognizes holder of such mortgage agrees to recognize the rights right of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the Complex) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's ’s obligations hereunder. In confirmation of such subordination and recognition, Tenant shall execute and deliver promptly such instruments of subordination and recognition as such mortgagee may reasonably request request, subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably request. request (Tenant hereby appoints such agreeing to pay any legal or other fees charged by the mortgagee (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant in complying connection with such mortgagee's (from time to time) requestproviding the same). In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, then this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date Date of this Lease, shall so elect, this Lease Lease, and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry 200 Xxxxxxxxx Xxxxxx – Advent Technologies or recorder's ’s office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord If in connection with obtaining financing a bank, insurance company, pension trust or other institutional lender shall obtain and deliver to Tenant, request reasonable modifications in this Lease as a condition to such financing, Tenant will not unreasonably withhold, delay or condition its consent thereto, provided that such modifications do not increase the monetary obligations of Tenant hereunder or materially adversely affect the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease leasehold interest hereby created or xxxxxxxxxTenant’s rights hereunder.

Appears in 1 contract

Samples: Work Agreement (Advent Technologies Holdings, Inc.)

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, the Buildings, or the ComplexBuilding, and to each advance made or hereafter to be made under any mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor therefore, provided, however, that in consideration of and as a condition precedent to Tenant's ’s agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site Building shall be the receipt by Tenant of a commercially reasonable non-disturbance nondisturbance agreement from and wherein the applicable mortgagee expressly recognizes the rights of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the ComplexBuilding) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's ’s obligations hereunder. In confirmation of such subordination and recognition, Tenant shall execute and deliver promptly such instruments an instrument of subordination and recognition (an “SNDA”) in the form attached hereto as Exhibit L, as amended by such mortgagee may reasonably request subject to receipt of such instruments of recognition from such mortgagee commercially reasonable changes as Tenant may reasonably request. Tenant hereby appoints such mortgagee (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant in complying with such mortgagee's (from time to time) request. In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date of this Lease, shall so elect, this Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's ’s office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord If in connection with obtaining financing a bank, insurance company, pension trust or other institutional lender shall obtain and deliver to Tenant, request reasonable modifications in this Lease as a condition to such financing, Tenant will not unreasonably withhold, delay or condition its consent thereto, provided that such modifications do not increase the monetary obligations of Tenant hereunder or materially adversely affect the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease leasehold interest hereby created or xxxxxxxxxTenant’s rights hereunder.

Appears in 1 contract

Samples: X4 Pharmaceuticals, Inc

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, the Buildings, Building (or the Complex, and to each advance made or hereafter to be made under any mortgagepart thereof), and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor providedtherefor, however, provided that in consideration of and as a condition precedent to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site shall be the receipt case of a commercially reasonable non-disturbance agreement from and wherein future mortgage the applicable mortgagee expressly recognizes holder of such mortgage agrees to recognize the rights right of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the Complex) upon the payment of rent and other charges payable by Tenant under this Lease Xxxxx and the performance by Tenant of Tenant's ’s obligations hereunder. In confirmation of such subordination and recognition, Tenant Xxxxxx shall execute and deliver promptly such instruments of subordination and recognition as such mortgagee may reasonably request request, subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably request. request (Tenant hereby appoints agreeing to pay any legal or other fees charged by the mortgagee in connection with any such mortgagee (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant in complying with such mortgagee's (from time to time) requestinstruments so requested by Xxxxxx). In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, then this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date Date of this Lease, shall so elect, this Lease Lease, and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's ’s office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord If in connection with obtaining financing a bank, insurance company, pension trust or other institutional lender shall obtain and deliver to Tenant, request reasonable modifications in this Lease as a condition to such financing, Tenant will not unreasonably withhold, delay or condition its consent thereto, provided that such modifications do not increase the monetary obligations of Tenant hereunder or materially adversely affect the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease leasehold interest hereby created or xxxxxxxxxXxxxxx’s rights hereunder.

Appears in 1 contract

Samples: 100 Federal Street (Andretti Acquisition Corp.)

Rights of Mortgagee. This Lease shall be subject and subordinate to any ------------------- mortgage now or hereafter on the Site, Site or the BuildingsBuilding, or the Complex, and to each advance made or hereafter to be made under any mortgageboth, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor providedtherefor, however, provided that in consideration the holder of and as a condition precedent such mortgage agrees to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site shall be the receipt of a commercially reasonable non-disturbance agreement from and wherein the applicable mortgagee expressly recognizes recognize the rights of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the Complex) upon the payment of rent Annual Fixed Rent, Additional Rent and all other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's obligations hereunderhereunder in which event Tenant shall agree to attorn to such mortgage holder and its successors and assigns as its Landlord and to perform and observe all of the tenant obligations hereunder in the event such mortgagee (or its successors or assigns) succeeds to the interest of the Landlord under this Lease. In confirmation of such subordination and recognition, Tenant shall execute and deliver promptly such instruments of subordination and recognition as such mortgagee may reasonably request request, subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably request. Tenant hereby appoints such mortgagee (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant in complying with such mortgagee's (from time to time) request. In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, then this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date Date of this Lease, shall so elect, this Lease Lease, and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord shall obtain and deliver to Tenant, as a condition of the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease or xxxxxxxxx.

Appears in 1 contract

Samples: Consent Agreement (On Technology Corp)

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, Site or the BuildingsBuilding, or the Complexboth, and to each advance made or hereafter to be made under any mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor provided, however, provided that in consideration the holder of and as a condition precedent such mortgage agrees to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site shall be the receipt of a commercially reasonable non-disturbance agreement from and wherein the applicable mortgagee expressly recognizes recognize the rights of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the ComplexPremises) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's obligations hereunder. In confirmation of such subordination and recognition, Tenant shall execute and deliver promptly such instruments of subordination and recognition as such mortgagee may reasonably request subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably request. Tenant hereby appoints such Landlord agrees to use reasonable efforts to obtain a subordination, non-disturbance and attornment agreement from the current mortgagee (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant in complying with such mortgagee's (from time to time) requestthe Site. In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlordlandlord provided that such mortgagee or successor agrees to recognize the rights of Tenant under this Lease (including the right to use and occupy the Premises) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's obligations hereunder. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date of this Lease, shall so elect, this Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice Notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord If in connection with obtaining financing a bank, insurance company, pension trust or other institutional lender shall obtain and deliver to Tenant, request reasonable modifications in this Lease as a condition to such financing, Tenant will not unreasonably withhold, delay or condition its consent thereto, provided that such modifications do not increase the monetary obligations of Tenant hereunder or materially adversely affect the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease or xxxxxxxxxleasehold interest hereby created.

Appears in 1 contract

Samples: Netegrity Inc

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, Site or the BuildingsBuilding, or the Complexboth, and to each advance made or hereafter to be made under any mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor provided, however, provided that in consideration the holder of and as a condition precedent such mortgage agrees to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site shall be the receipt of a commercially reasonable non-disturbance agreement from and wherein the applicable mortgagee expressly recognizes recognize the rights of Tenant under this Lease (including including, without limitation, the right to use and occupy the Premises and to lease additional premises at the ComplexPremises) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's ’s obligations hereunderhereunder as provided in a commercially reasonable form. In confirmation of such subordination and recognition, Tenant shall execute and deliver promptly such instruments of subordination and recognition as such mortgagee may reasonably request subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably request. Tenant hereby appoints such mortgagee (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant in complying with such mortgagee's (from time to time) request. In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date of this Lease, shall so elect, this Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's ’s office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord If in connection with obtaining financing a bank, insurance company, pension trust or other institutional lender shall obtain and deliver to Tenant, request reasonable modifications in this Lease as a condition to such financing, Tenant will not unreasonably withhold, delay or condition its consent thereto, provided that such modifications do not increase the monetary obligations of Tenant hereunder or materially adversely affect the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease or xxxxxxxxxleasehold interest hereby created.

Appears in 1 contract

Samples: TScan Therapeutics, Inc.

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, Site or the BuildingsBuilding, or the Complexboth, and to each advance made or hereafter to be made under any mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor provided, however, provided that in consideration the holder of and as a condition precedent such mortgage agrees to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site shall be the receipt of a commercially reasonable non-disturbance agreement from and wherein the applicable mortgagee expressly recognizes recognize the rights of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the ComplexPremises) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's obligations hereunder. In confirmation confmnation of such subordination and recognition, Tenant shall execute and deliver promptly such instruments of subordination subordiuation and recognition (an "SNDA") as such mortgagee may reasonably request requ.est subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably request. Tenant hereby appoints The SNDA shall be in the customary form required by such mortgagee (from time to time) as Tenant's attorney-in-fact to execute amended by such subordination upon default of commercially reasonable changes as Tenant in complying with such mortgagee's (from time to time) requestmay reasonably require. In the event that any mortgagee or its respective successor in title shall succeed to the interest iuterest of Landlord, then, this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn attom to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any Ifany holder of a mortgage which includes the Premises, executed and recorded prior to the date of this Lease, shall so elect, this tl1is Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holderbolder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice hereof recorded, prior to the execution, delivery and recording recordiug of any such mortgage. The election of any such holder bolder shall become effective upon either notice from such holder bolder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's office of an instrument iustrument in which such holder subordinates its rights under such mortgage to t<;> this Lease. Landlord shall obtain and deliver to Tenant, as a condition of the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex hereby represents that as of the tbe date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord there is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any no mortgage or ground lease currently encumbering the Building or xxxxxxxxxthe Site.

Appears in 1 contract

Samples: Agreement of Sublease (Care.com Inc)

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, the Buildings, Building (or the Complex, and to each advance made or hereafter to be made under any mortgagepart thereof), and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor providedtherefor, howeverprovided that the holder of such mortgage enters into subordination, that in consideration of and as a condition precedent to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site shall be the receipt of a commercially reasonable non-disturbance agreement from and wherein the applicable mortgagee expressly recognizes the rights of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the Complex) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's obligations hereunder. In confirmation of such subordination and recognition, Tenant shall execute and deliver promptly such instruments of subordination and recognition as agreement with Tenant, in the standard form used by such mortgagee may reasonably request subject to receipt of holder, with such instruments of recognition from such mortgagee commercially reasonable changes as Tenant may reasonably request. Tenant hereby appoints such mortgagee request (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant in complying with such mortgagee's (from time to time) request“SNDA”). In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, then this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date of this LeaseEffective Date, shall so elect, this Lease Lease, and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice Notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's ’s office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord If in connection with obtaining financing a bank, insurance company, pension trust or other institutional lender shall obtain and deliver to Tenant, request reasonable modifications in this Lease as a condition to such financing, Tenant will not unreasonably withhold, delay or condition its consent thereto, provided that such modifications do not increase the monetary obligations of Tenant hereunder or materially adversely affect the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease leasehold interest hereby created or xxxxxxxxxTenant’s rights hereunder.

Appears in 1 contract

Samples: Transportation Access Plan Agreement (CarGurus, Inc.)

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter placed on the Site, Site or the BuildingsBuilding, or the Complex, and to each advance made or hereafter to be made under any mortgageboth, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor providedtherefor, however, provided that in consideration the holder of and as a condition precedent such mortgage agrees to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on recognize the Site shall be the receipt of a commercially reasonable non-disturbance agreement from and wherein the applicable mortgagee expressly recognizes the rights right of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the Complex) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant Xxxxxx of Tenant's Xxxxxx’s obligations hereunder. In confirmation of such subordination and recognition, Tenant Xxxxxx shall execute and deliver promptly such instruments of subordination and recognition as such mortgagee may reasonably request request, subject to receipt of such instruments of recognition non disturbance from such mortgagee as Tenant may reasonably request. Tenant request (Landlord hereby appoints agreeing (a) to use best efforts to obtain such subordination instruments from such mortgagee and (from time b) to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant pay any legal or other fees charged by the mortgagee in complying connection with such mortgagee's (from time to time) requestproviding the same). In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, then this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of in connection with obtaining financing a mortgage which includes the Premisesbank, executed and recorded prior to the date of this Leaseinsurance company, pension trust or other institutional lender shall so elect, request reasonable modifications in this Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord shall obtain and deliver to Tenant, as a condition to such financing, Tenant will not unreasonably withhold, delay or condition its consent thereto, provided that (i) such modifications do not increase the monetary obligations of Tenant hereunder or materially adversely affect the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement leasehold interest hereby created or Tenant’s rights hereunder and (ii) Landlord shall be responsible for the payment of all reasonable costs incurred by Tenant in the form attached hereto as Exhibit M (as the same may be modified by complying with such changes as Tenant may request and such mortgagee may approve)as, for example, attorneys’ fees. Landlord hereby represents and warrants to Tenant that Landlord there is no mortgage currently encumbering the fee simple owner of Building or the Complex and, as of the date hereof, the Complex is not subject to any ground lease or xxxxxxxxxSite.

Appears in 1 contract

Samples: Agreement (A123 Systems, Inc.)

Rights of Mortgagee. This Lessee accepts this Lease shall be subject and subordinate to any mortgage now or hereafter on recorded mortgage, deed of trust and other lien presently existing upon the Site, the Buildings, or the Complex, leased Premises. Lessor is hereby irrevocably vested with full power and authority to each advance made or hereafter subordinate Lessee's interest under this Lease to be made under any mortgage, and to all renewalsdeed of trust, modifications, consolidations, replacements and extensions thereof and all substitutions therefor provided, however, that in consideration of and as a condition precedent to Tenant's agreement to subordinate this Lease with respect to mortgages or other lien hereafter placed on the Site shall be leased Premises, and Lessee agrees, upon demand, to execute additional instruments subordinating this Lease as Lessor may require. If the receipt interests of a commercially reasonable non-disturbance agreement from and wherein the applicable mortgagee expressly recognizes the rights of Tenant Lessor under this Lease shall be transferred by reason of foreclosure or other proceedings for enforcement of any mortgage on the leased Premises, Lessee shall be bound to the transferee (including sometimes called the right to use "Purchaser") under the terms, covenants, and occupy the Premises and to lease additional premises at the Complex) upon the payment conditions of rent and other charges payable by Tenant under this Lease for the balance of the terms remaining, and the performance by Tenant of Tenant's obligations hereunder. In confirmation of such subordination and recognition, Tenant shall execute and deliver promptly such instruments of subordination and recognition as such mortgagee may reasonably request subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably request. Tenant hereby appoints such mortgagee (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant in complying with such mortgagee's (from time to time) request. In the event that any mortgagee extensions or its respective successor in title shall succeed to the interest of Landlord, then, this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date of this Lease, shall so elect, this Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holderrenewals, with the same force and effect as if the Purchaser were Lessor under this Lease had been executedLease, delivered and recorded, or a statutory notice hereof recorded, prior Lessee agrees to attorn to the executionPurchaser, delivery and recording of including the mortgagee under any such mortgage. The election , if it be the Purchaser, as its Lessor, the attornment to be effective and self-operative without the execution of any such holder shall become effective further instruments upon either notice from such holder the Purchaser succeeding to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's office interest of an instrument in which such holder subordinates its rights Lessor under such mortgage to this Lease. Landlord shall obtain The respective rights and deliver obligations of Lessee and the Purchaser, upon the attornment, to Tenant, as a condition the extent of the effectiveness then remaining balance of the term of this Lease, a non-disturbance agreement from and any extensions or renewals, shall be and are the current mortgagee same as those set forth in this Lease. In the event that Lessor shall default in the performance of the Premises and/or the Complex as of the date terms and provisions of this Lease, Lessee hereby agrees to give Lessor's Mortgagee, by registered mail, a copy of any notice of default served upon the Lessor, provided that prior to such notice Lessee has been notified in writing, (by way of notice of Assignment of Rents and Leases, or otherwise) of the address of such Mortgagee. Lessee further agrees that if Lessor shall have failed to cure such default within the time provided for in this Lease, then the Mortgagee shall have an additional sixty (60) days within which said non-disturbance agreement shall to cure such default, or, if such default cannot be in the form attached hereto as Exhibit M (as the same cured within that time, then such additional time is may be modified by necessary to cure such changes as Tenant may request default provided said Mortgagee has commenced and is diligently pursuing the remedies necessary to cure such mortgagee may approvedefault (including, but not limited to commencement of foreclosure proceedings, if necessary to effect such cure). Landlord represents and warrants to Tenant Lessee hereby agrees that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is it shall not subject to any ground lease or xxxxxxxxxterminate this Lease while such remedies are being so diligently pursued by Lessor's Mortgagee.

Appears in 1 contract

Samples: Lease Agreement (Neogen Corp)

Rights of Mortgagee. A. This Lease Lease, and all rights of Tenant hereunder, are and shall be subject and subordinate to any mortgage all mortgages which may now or hereafter on affect the Siteproperty whether or not such mortgages shall also cover other lands and/or buildings, the Buildings, or the Complex, and to each and every advance made or hereafter to be made under any mortgagesuch mortgages, and to all renewals, modifications, consolidations, replacements and extensions thereof of such mortgages and all substitutions therefor providedconsolidations of such mortgages, howeverprovided that, that in consideration of and as a condition precedent to Tenant's agreement to subordinate this Lease with respect to mortgages any such mortgage hereafter placed on the Site property, Landlord shall be deliver to Tenant an agreement by such holder to the receipt effect that, subject to qualifications of a commercially reasonable non-disturbance agreement from and wherein the applicable mortgagee expressly recognizes type set forth in the rights second sentence of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the Complex) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant paragraph B hereof, all of Tenant's obligations hereunderrights hereunder shall be recognized by such holder. In Such subordination shall be automatic and without need for any additional action or documentation. Without derogating from the foregoing, in confirmation of such subordination subordination, and recognitionsubject to the foregoing condition, Tenant shall execute promptly execute, acknowledge and deliver promptly any instrument that Landlord or the holder of any such instruments mortgage or any of subordination and recognition as such mortgagee their respective successors in interest may reasonably request to evidence such subordination. Landlord agrees to request the holder of any existing mortgage on the property to deliver an agreement by such holder to the effect that, subject to receipt the qualifications of the type set forth in the second sentence of paragraph B hereof, that such instruments holder recognizes all of recognition from such mortgagee as Tenant may reasonably request. Tenant hereby appoints such mortgagee (from time to time) as Tenant's attorney-in-fact rights hereunder. Any mortgage to execute such subordination upon default of Tenant in complying with such mortgagee's (from time to time) request. In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, which this Lease shall nevertheless continue in full force is, at the time referred to, subject and effect andsubordinate, provided Tenant has received is herein called "Superior Mortgage" and the non-disturbance agreement required under this Section 8.15, Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date of this Lease, shall so elect, this Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord shall obtain and deliver to Tenant, as a condition of the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord Superior Mortgage is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease or xxxxxxxxxherein called "Superior Mortgagee".

Appears in 1 contract

Samples: Lease Agreement (Creative Biomolecules Inc)

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, the Buildings, Building (or the Complex, and to each advance made or hereafter to be made under any mortgagepart thereof), and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor providedtherefor, however, provided that in consideration of and as a condition precedent to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site shall be the receipt case of a commercially reasonable non-disturbance agreement from and wherein future mortgage the applicable mortgagee expressly recognizes holder of such mortgage agrees to recognize the rights right of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the Complex) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's ’s obligations hereunder. In confirmation of such subordination and recognition, Tenant shall execute and deliver promptly such instruments of subordination and recognition as such mortgagee may reasonably request request, subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably request. request (Tenant hereby appoints such agreeing to pay any legal or other fees charged by the mortgagee (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant in complying connection with such mortgagee's (from time to time) requestproviding the same). In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, then this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date Date of this Lease, shall so elect, this Lease Lease, and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice Notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or of recorder's ’s office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord If in connection with obtaining financing a bank, insurance company, pension trust or other institutional lender shall obtain and deliver to Tenant, request reasonable modifications in this Lease as a condition to such financing, Tenant will not unreasonably withhold, delay or condition its consent thereto, provided that such modifications do not increase the monetary obligations of Tenant hereunder or materially adversely affect the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease leasehold interest hereby created or xxxxxxxxxTenant’s rights hereunder.

Appears in 1 contract

Samples: Sublease (Flex Pharma, Inc.)

Rights of Mortgagee. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Site, Site or the BuildingsBuilding, or the Complexboth, and to each advance made or hereafter to be made under any mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor provided, however, provided that in consideration the holder of such mortgage hereafter granted agrees by execution and as a condition precedent to Tenant's agreement to subordinate this Lease with respect to mortgages hereafter placed on the Site shall be the receipt delivery of a commercially reasonable subordination, non-disturbance and attornment agreement from (an “SNDA”) among Landlord, Tenant and wherein the applicable mortgagee expressly recognizes such mortgage holder in form reasonably required by such mortgage holder, to recognize the rights of Tenant under this Lease (including the right to use and occupy the Premises and to lease additional premises at the ComplexPremises) upon the payment of rent and other charges payable by Tenant under this Lease and the performance by Tenant of Tenant's ’s obligations hereunderhereunder in which event Tenant shall agree to attorn to such holder and its successors as landlord. In confirmation of such subordination and recognition, Tenant shall execute and deliver promptly such instruments of subordination SNDA setting forth such subordination, non-disturbance and recognition as such mortgagee may reasonably request subject to receipt of such instruments of recognition from such mortgagee as Tenant may reasonably request. To the extent an SNDA is requested by Tenant, Tenant hereby appoints such agrees to pay any legal or other fees charged by the mortgagee (from time to time) as Tenant's attorney-in-fact to execute such subordination upon default of Tenant in complying connection with such mortgagee's (from time to time) requestproviding the same. In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, this Lease shall nevertheless continue in full force and effect and, provided Tenant has received the non-disturbance agreement required under this Section 8.15, and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord. If any holder of a mortgage which includes the Premises, executed and recorded prior to the date of this Lease, shall so elect, this Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this Lease had been executed, delivered and recorded, or a statutory notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder's ’s office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. Landlord If in connection with obtaining financing a bank, insurance company, pension trust or other institutional lender shall obtain and deliver to Tenant, request reasonable modifications in this Lease as a condition to such financing, Tenant will not unreasonably withhold, delay or condition its consent thereto, provided that such modifications do not increase the monetary or other obligations of Tenant hereunder, or materially adversely affect the effectiveness of this Lease, a non-disturbance agreement from the current mortgagee of the Premises and/or the Complex as of the date of this Lease, which said non-disturbance agreement shall be in the form attached hereto as Exhibit M (as the same may be modified by such changes as Tenant may request and such mortgagee may approve). Landlord represents and warrants to Tenant that Landlord is the fee simple owner of the Complex and, as of the date hereof, the Complex is not subject to any ground lease or xxxxxxxxxleasehold interest hereby created.

Appears in 1 contract

Samples: Lease (Inotek Pharmaceuticals Corp)

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