Common use of SUBORDINATION, ATTORNMENT AND NON-DISTURBANCE Clause in Contracts

SUBORDINATION, ATTORNMENT AND NON-DISTURBANCE. Section 22.01. This Lease and Tenant's leasehold estate shall be subordinate and subject in all respects to any present and future mortgage or mortgages which are liens against the Premises and, at Landlord's request, Tenant shall execute and deliver to Landlord an instrument in recordable form confirming such subordination; provided that such subordination shall not affect the respective rights of Landlord, Tenant and any mortgagee under Article XII. hereof; and, provided further, that Landlord will use its best efforts to secure for Tenant at such time an instrument executed by all necessary parties in recordable form whereby any Mortgagee or proposed mortgagee agrees that Tenant shall not be interfered with or disturbed in its use, possession and enjoyment of the Premises by the mortgagee, or any person or firm claiming under the mortgagee, such instrument to be binding upon any successor of a Mortgagee or any purchaser at judicial sale upon foreclosure of the mortgage, so long as Tenant is not in default hereunder. If at any time during the Term any Mortgagee or proposed mortgagee shall become owner of the Premises as a result of foreclosure or otherwise or becomes a “Mortgagee in Possession” of the Premises, Tenant shall, upon request and upon assumption by said mortgagee of Landlord's obligations hereunder, attorn to such mortgagee from time to time upon the then terms and conditions of this Lease and shall execute instruments in confirmation of such attornment.

Appears in 1 contract

Samples: Indenture of Lease (X & O Cosmetics, Inc)

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SUBORDINATION, ATTORNMENT AND NON-DISTURBANCE. Section 22.01. This Lease and Tenant's leasehold estate all rights of the Tenant hereunder are subject and subordinate to any mortgage or other security instrument which does now or hereafter encumber the Leased Premises or any interest of Landlord therein and to any and all advances made on the security thereof, and to any and all increased, renewals, modifications, consolidations, and extension of any such mortgage or security instrument. No further writing from Tenant shall be subordinate and subject in all respects necessary to evidence such subordination, however, within fifteen (15) days after written request from Landlord, Xxxxxx agrees to execute any instrument which may be deemed necessary or desirable by Landlord to further effect the subordination of this Lease to any present and future mortgage or mortgages which are liens against the Premises and, at Landlord's mortgage. Should Tenant fail to respond to such request, Tenant shall execute and deliver to hereby irrevocably appoints Landlord an instrument in recordable form confirming such subordination; provided that such subordination shall not affect the respective rights as attorney-in-fact of Landlord, Tenant and any mortgagee under Article XII. hereof; and, provided further, that Landlord will use its best efforts to secure for Tenant at such any time an instrument executed by all necessary parties for Tenant, and in recordable form whereby any Mortgagee or proposed mortgagee agrees that Tenant shall not be interfered with or disturbed Tenant’s name, to execute proper subordination agreements to this effect. If the interest of Landlord in its use, possession and enjoyment of the Leased Premises by the mortgagee, or is transferred to any person or firm claiming under the mortgagee, such instrument to be binding upon entity by reason of foreclosure or other proceedings for enforcement of any successor mortgage or security interest or by delivery of a Mortgagee deed in lieu of foreclosure or any purchaser at judicial sale upon foreclosure other proceedings, Tenant shall immediately and automatically attorn to such person or entity. In the event of the mortgagesuch transfer, this Lease and Xxxxxx’s rights hereunder shall continue undisturbed so long as Tenant is not in default hereunder. If at any time during the Term any Mortgagee or proposed mortgagee shall become owner of the Premises as a result of foreclosure or otherwise or becomes a “Mortgagee in Possession” of the Premises, Tenant shall, upon request and upon assumption by said mortgagee of Landlord's obligations hereunder, attorn to such mortgagee from time to time upon the then terms and conditions of this Lease and shall execute instruments in confirmation of such attornmentdefault.

Appears in 1 contract

Samples: Commercial Lease Agreement (La Rosa Holdings Corp.)

SUBORDINATION, ATTORNMENT AND NON-DISTURBANCE. Section 22.01This Lease and all rights of the Tenant hereunder are subject and subordinate to any mortgage, or other security instrument which does now or hereafter encumber the Leased Property or any interest of Landlord therein and to any and all advances made on the security thereof, and to any and all increased, renewals, modifications, consolidations, and extension of any such mortgage or security instrument. This No further writing from Tenant shall be necessary to evidence such subordination, however, within fifteen (15) days after written request from Landlord, Tenant agrees to execute any instrument which may be deemed necessary or desirable by Landlord to further effect the subordination of this Lease to any mortgage. Should Tenant fail to respond to such request, Tenant hereby irrevocably appoints Landlord as attorney-in-fact of Tenant at any time for Tenant, and in Tenant's name, to execute proper subordination agreements to this effect. If the interest of Landlord in the Leased Property is transferred to any person or entity by reason of foreclosure or other proceedings for enforcement of any mortgage or security interest or by delivery of a deed in lieu of foreclosure or other proceedings, Tenant shall immediately and automatically attorn to such person or entity. In the event of such transfer, this Lease and Tenant's leasehold estate rights hereunder shall be subordinate and subject in all respects to any present and future mortgage or mortgages which are liens against the Premises and, at Landlord's request, Tenant shall execute and deliver to Landlord an instrument in recordable form confirming such subordination; provided that such subordination shall not affect the respective rights of Landlord, Tenant and any mortgagee under Article XII. hereof; and, provided further, that Landlord will use its best efforts to secure for Tenant at such time an instrument executed by all necessary parties in recordable form whereby any Mortgagee or proposed mortgagee agrees that Tenant shall not be interfered with or disturbed in its use, possession and enjoyment of the Premises by the mortgagee, or any person or firm claiming under the mortgagee, such instrument to be binding upon any successor of a Mortgagee or any purchaser at judicial sale upon foreclosure of the mortgage, continue undisturbed so long as Tenant is not in default hereunder. If at any time during the Term any Mortgagee or proposed mortgagee shall become owner of the Premises as a result of foreclosure or otherwise or becomes a “Mortgagee in Possession” of the Premises, Tenant shall, upon request and upon assumption by said mortgagee of Landlord's obligations hereunder, attorn to such mortgagee from time to time upon the then terms and conditions of this Lease and shall execute instruments in confirmation of such attornmentdefault.

Appears in 1 contract

Samples: Lease Agreement (First Team Automotive Corp)

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SUBORDINATION, ATTORNMENT AND NON-DISTURBANCE. Section 22.01. This Lease is subject and Tenant's leasehold estate shall be subordinate and subject in all respects to any present mortgage that may now or hereafter encumber the Leases Premises, and future any renewals, modifications, consolidations, replacements or extensions thereof; provided, however, that as a condition to such subordination Landlord shall, from time to time, exercise cause the holder of such mortgage to deliver to Tenant a written agreement that it shall not disturb the possession of Tenant so long as Tenant is not in material default hereunder (which default must be cured by Tenant), in the form typically utilized by such holder of the mortgage. If Landlord’s interest in the Leased Premises is acquired by any mortgagee, or mortgages which are liens against the Premises and, purchaser at Landlord's requesta foreclosure sale, Tenant shall execute attorn to the transferee of or successor to Landlord’s interest in the Leased Premises and deliver to Landlord an instrument in recordable form confirming recognize such subordination; provided that such subordination shall not affect the respective rights of Landlordtransferee or successor as landlord under this Lease, Tenant and any mortgagee under Article XII. hereof; and, provided further, that Landlord will use its best efforts to secure for Tenant at such time an instrument executed by all necessary parties in recordable form whereby any Mortgagee or proposed mortgagee agrees that Tenant shall not be interfered with or disturbed in its use, possession and enjoyment of the Premises by the mortgagee, or any person or firm claiming under the mortgagee, such instrument to be binding upon any successor of a Mortgagee or any purchaser at judicial sale upon foreclosure of the mortgage, so long as Tenant is not in default hereunder. If at any time during under this Lease Agreement (subject to applicable rights to cure), this Lease shall, with regard to the Term any Mortgagee or proposed mortgagee shall become owner of the Premises Leased Premises, continue in full force and effect as a result direct lease between the lender or its successors and assigns and Tenant. In confirmation of foreclosure or otherwise or becomes a “Mortgagee in Possession” of the Premisessuch subordination, Tenant shallshall execute promptly any certificate or instrument of subordination that Landlord may request. In the event that Landlord sells the Leased Premises to any other person or entity, Tenant upon request and upon assumption by said mortgagee written notice of Landlord's obligations hereunder, attorn same shall thereafter look only to such mortgagee from time to time upon the then terms and conditions other person or entity for enforcement of any provisions of this Lease and shall execute instruments in confirmation of such attornmentAgreement.

Appears in 1 contract

Samples: Lease Agreement (OVERSTOCK.COM, Inc)

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