Common use of SUBORDINATION AND NON-DISTURBANCE Clause in Contracts

SUBORDINATION AND NON-DISTURBANCE. This Lease is subordinate to (i) the Ground Lease and (ii) any mortgage now or hereafter on the building and to each advance made under any such mortgage, and to all renewals, modifications, consolidations, replacements and extensions of such mortgage. This Section 19.02 is self-operative and no further instrument of Subordination will be required, provided that before a future subordination is effective Landlord will cause the mortgagee or Ground Lessor to deliver to Tenant an non-disturbance agreement, binding upon itself and any successor in interest, to the effect that no foreclouser of the mortgage or termination of the Ground Lease will disturb the possession of Tenant under this Lease so long as on Event of Default exists. In confirmation of such subordination, Tenant agrees to execute and deliver promptly any certificate that Landlord or the Ground Lessor or any mortgagee may request. If any mortgagee or Ground Lessor succeeds to the interest of Landlord and agrees to recognize the interest of Tenant under this Lease, Tenant agrees to attorn to such mortgagee or Ground Lessor and to recognize such mortgagee or Ground lessor as its Landlord.

Appears in 3 contracts

Samples: Space Lease (Accentia Biopharmaceuticals Inc), Space Lease (Accentia Biopharmaceuticals Inc), Space Lease (Accentia Biopharmaceuticals Inc)

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SUBORDINATION AND NON-DISTURBANCE. This Lease is --------------------------------- subordinate to (i) the Ground Lease and (ii) any mortgage now or hereafter on the building Building and to each advance made under any such mortgage, and to all renewals, modifications, consolidations, replacements and extensions of such mortgage. This Section 19.02 is self-operative and no further instrument of Subordination subordination will be required, provided that before a future subordination is effective Landlord will cause the mortgagee or Ground Lessor to deliver to Tenant an a non-disturbance agreement, binding upon itself and any successor in interest, to the effect that no foreclouser foreclosure of the mortgage or termination of the Ground Lease will disturb the possession of Tenant under this Lease so long as on no Event of Default exists. In confirmation of such subordination, Tenant agrees to execute and deliver promptly any certificate that Landlord or the Ground Lessor or any mortgagee may request. If any mortgagee or Ground Lessor succeeds to the interest of Landlord and agrees to recognize the interest of Tenant under this Lease, Tenant agrees to attorn to such mortgagee or Ground Lessor and to recognize such mortgagee or Ground lessor Lessor as its Landlordlandlord.

Appears in 1 contract

Samples: Phytera Inc

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SUBORDINATION AND NON-DISTURBANCE. This Lease is subordinate to (i) the Ground Lease and (ii) any mortgage now or hereafter on the building Building and to each advance made under any such mortgage, and to all renewals, modifications, consolidations, replacements and extensions of such mortgage. This Section 19.02 is self-operative and no further instrument of Subordination subordination will be required, provided that before a future subordination is effective Landlord will cause the mortgagee or Ground Lessor to deliver to Tenant an a non-disturbance agreement, binding upon itself and any successor in interest, to the effect that no foreclouser foreclosure of the mortgage or termination of the Ground Lease will disturb the possession of Tenant under this Lease so long as on no Event of Default exists. In confirmation of such subordination, Tenant agrees to execute and deliver promptly any certificate that Landlord or the Ground Lessor or any mortgagee may request. If any mortgagee or Ground Lessor succeeds to the interest of Landlord and agrees to recognize the interest of Tenant under this Lease, Tenant agrees to attorn to such mortgagee or Ground Lessor and Lessor, to recognize such mortgagee or Ground lessor Lessor as its Landlordlandlord and to execute any instrument reflecting its attornment and recognition reasonably requested by such mortgagee or Ground Lessor.

Appears in 1 contract

Samples: Bioject Medical Technologies Inc

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