SNDA. Subject to the later provisions of this Section 15, the Lease, as amended by this Amendment, shall be subject and subordinate to any mortgage(s), deed(s) of trust, ground lease(s) or other lien(s) now or subsequently arising upon the Premises, the Building or the Project, and to renewals, modifications, refinancings and extensions thereof (collectively referred to as a “Mortgage”). The party having the benefit of a Mortgage shall be referred to as a “Mortgagee”. This Section 15 shall be self-operative; provided, however, that (a) so long as no Default exists under this Lease and Tenant attorns to the successor-in-interest, Tenant’s possession pursuant to this Lease shall not be disturbed and this Lease shall not terminate in the event of termination or foreclosure of any such Mortgage, and (b) Tenant’s subordination obligations hereunder shall be conditioned upon Tenant’s receipt (and upon request from a Mortgagee, Tenant shall execute) a commercially reasonable subordination, non-disturbance and attornment agreement (an “SNDA”) covering Tenant and the Mortgagee. In lieu of having the Mortgage be superior to this Lease, a Mortgagee shall have the right at any time to subordinate its Mortgage to this Lease. If requested by a successor-in-interest to all or a part of Landlord’s interest in the Lease, Tenant shall, without charge, attorn to the successor-in-interest. Landlord shall use commercially reasonable efforts to cause its current Mortgagee to execute and deliver to Tenant a subordination, attornment and non-disturbance agreement in a form that is reasonably acceptable to Tenant on or before that date which is thirty (30) days following the mutual execution of this Amendment, but Landlord’s failure to do so shall not affect the validity of this Amendment. Tenant acknowledges and agrees that the Subordination, Non-Disturbance and Attornment Agreement attached to this Amendment as Exhibit D is a form of SNDA that is commercially reasonable and acceptable to Tenant, but that the actual SNDA may be on a different form and with a different Mortgagee.
SNDA. Any SNDA ceases to be in full force and effect (except with respect to a Borrowing Base Property disposed of in accordance with Section 8.05).
SNDA. No later than 30 days after the mutual execution and delivery of this Amendment, Landlord shall deliver to Tenant an SNDA from Landlord’s current Lender pursuant to which (i) the Lease is subordinated to the lien of such Lender’s Encumbrance and (ii) the Lender agrees not to disturb or interfere with Tenant’s possession of the Premises or rights under the Lease so long as there is no Event of Default on the part of Tenant. Tenant agrees that the form of SNDA attached hereto as Exhibit C is acceptable to Tenant.
SNDA. Simultaneously with execution of this Lease if the Building is subject to any Security Document, or if the Building is not so subject as of the Effective Date, then at any time that the Building is hereafter made subject to any Security Document(s), Landlord shall use commercially reasonable good faith efforts to cause the Holder to deliver an SNDA to Tenant. Notwithstanding anything herein to the contrary, the subordination of this Lease to any Security Document hereafter placed upon the Building, and Tenant’s agreement to attorn to the Holder as provided in this Article 12, shall be conditioned upon the Holder entering into an SNDA.
SNDA. Upon Purchaser’s written request, Seller hereby agrees to use reasonable efforts to obtain an executed subordination, non-disturbance and attornment agreement (“SNDA”) from any Major Tenant on the form required by the tenant’s applicable lease (if any), or if none, as provided on Purchaser’s lender’s form. Notwithstanding the foregoing, obtaining any SNDA is not a condition to Closing and Seller shall not be in default for failing to obtain any SNDA.
SNDA. Landlord represents and warrants that, in connection with Landlord's acquisition of the Project from the Original Landlord, the Lender's Loan referred to above was satisfied in full, and that therefore no notice or consent rights of Lender remain with regard to the Project, specifically including the Lease and/or this Agreement.
SNDA. At any time that the Building is made subject to any Security Document(s) (including, without limitation, prior to the date hereof), Landlord shall use commercially reasonable good faith efforts to cause the mortgagee and any lessor (whether under a ground or master lease) to deliver to Tenant an SNDA, providing in part that so long as Tenant is not in default under this Lease after the expiration of any applicable notice and cure periods, Tenant may remain in possession of the Tenant Space under the terms of this Lease, even if the mortgagee or its successor should acquire Landlord’s title to the Building. The foregoing obligation shall apply if the Building is currently subject to any Security Document(s), and Landlord shall use commercially reasonable efforts to cause the mortgagee and any lessor (whether under a ground or master lease) to deliver to Tenant an SNDA prior to the Commencement Date. Notwithstanding anything herein to the contrary, the subordination of this Lease to any Security Document hereafter placed upon the Building and Tenant’s agreement to attorn to the Holder as provided in this Section 12 shall be conditioned upon the Holder entering into an SNDA. Tenant covenants and agrees to execute and deliver, within ten (10) days of receipt thereof, an SNDA.
SNDA. Buyer’s, Master Tenant’s, Landlord’s and Lender’s counterparts to the SNDA. F.
SNDA. This Amendment is expressly conditioned upon Landlord’s Lender’s delivery to Tenant of an SNDA (as defined in the Original Lease). If Landlord has not provided Tenant with an SNDA within thirty (30) days after the mutual execution and delivery of this Amendment, then Tenant shall have the right to send Landlord a notice requesting Landlord to notify Tenant of the status of the SNDA. If Landlord indicates in response to Tenant’s notice that Landlord’s Lender has not provided an SNDA, or if Landlord fails to respond to Tenant’s notice within five (5) Business Days after Landlord’s receipt of it, then each of Landlord and Tenant shall have the right to terminate this Amendment by written notice to the other party. If this Amendment is so terminated, then the parties shall have no further rights or obligations hereunder and Landlord promptly shall return to Tenant the amount of the increased Security Deposit provided in Section 7 above and the first month’s rent for any Suite which prepaid by Tenant as provided in Section 8 above.
SNDA. If received by Seller, the SNDA, it being agreed that the failure of Seller to obtain the SNDA shall not (i) be a breach or default by Seller hereunder, (ii) constitute grounds for Purchaser to delay the Closing or (iii) give rise to a reduction of the Purchase Price.
