Common use of Subordinates Clause in Contracts

Subordinates. Tenant hereby subordinates this Lease and all rights of Tenant hereunder to any mortgage or mortgages, or vendor's lien, or similar instruments which now are or which may from time to time be placed upon the Project, and such mortgage or mortgages or liens or other instruments shall be superior to and prior to this Lease. Tenant further covenants and agrees that if the mortgage or other lien holder acquires the Premises as a purchaser at any such foreclosure sale (any such mortgagee or other lien-holder or purchaser of the foreclosure sale being such hereunder referred to as the "Purchaser at Foreclosure"). Tenant shall thereafter, but only at the option of the Purchaser at Foreclosure, as evidenced by the written notice of its election given to Tenant within a reasonable time thereafter, remain bound by ??? or otherwise to the same effect as if a new and identical Lease between the Purchaser at Foreclosure, as Landlord, and Tenant, as tenant, had been entered into for the remainder of the Term in effect at the institution of the foreclosure proceedings. Tenant agrees to execute any instrument or instruments which may be deemed necessary or desirable further to effect the subordination of this Lease to each such mortgage, lien or instrument or to confirm any election to continue the Lease in effect in the event of foreclosure, as above provided. Tenant hereby irrevocably appoints Landlord as its special attorney-in-fact to execute and deliver any document or documents provided for herein for and in the name of Tenant. Such power, being coupled with and interest, is irrevocable.

Subordinates. Tenant hereby subordinates this Lease This lease and Tenant's rights hereunder shall be subject and subordinate at all rights of Tenant hereunder times in lien and priority to any mortgage or mortgages, or vendor's lien, or similar instruments which now are or which may from time to time be placed upon the Project, and such mortgage or mortgages or liens or other instruments shall be superior to and prior to this Lease. Tenant further covenants and agrees that if the first mortgage or other primary encumbrance now or, upon receipt by Tenant or a nondisturbance agreement reasonably satisfactory to Tenant, hereafter placed upon or affecting the Premises, and to any second mortgage or encumbrance with the consent of the first mortgagee, and to all renewals, modifications, consolidations and extensions thereof, without the necessity of any further instrument or act on the part of Tenant. Tenant shall, upon receipt by Tenant of a nondisturbance agreement reasonably satisfactory to Tenant, execute and deliver upon demand any further instrument or instruments confirming the subordination of this lease to the lien holder acquires the Premises as a purchaser at of any such foreclosure sale (first mortgage or to the lien of any other mortgage if requested to do so by Landlord with the consent of the first mortgagee, and any further instrument or instruments of attornment that may be desired by any such mortgagee or other lien-holder or purchaser Landlord. Notwithstanding the foregoing, any mortgagee may at any time subordinate its mortgage to this lease, without Tenant's consent, by giving notice in writing to Tenant, and thereupon this lease shall be deemed prior to such mortgage without regard to their respective dates of execution and delivery, and in that event such mortgagee shall have the same rights with respect to this lease as though this lease had been executed prior to the execution and delivery of the foreclosure sale being such hereunder referred to as the "Purchaser at Foreclosure"). Tenant shall thereafter, but only at the option of the Purchaser at Foreclosure, as evidenced by the written notice of its election given to Tenant within a reasonable time thereafter, remain bound by ??? or otherwise to the same effect as if a new mortgage and identical Lease between the Purchaser at Foreclosure, as Landlord, and Tenant, as tenant, had been entered into for the remainder of the Term in effect at the institution of the foreclosure proceedings. Tenant agrees assigned to execute any instrument or instruments which may be deemed necessary or desirable further to effect the subordination of this Lease to each such mortgage, lien or instrument or to confirm any election to continue the Lease in effect in the event of foreclosure, as above provided. Tenant hereby irrevocably appoints Landlord as its special attorney-in-fact to execute and deliver any document or documents provided for herein for and in the name of Tenant. Such power, being coupled with and interest, is irrevocablemortgages.