Common use of Subordination Estoppel Clause in Contracts

Subordination Estoppel. Section 21.01. This Lease will be subject and subordinate to any mortgage of the Premises now existing or hereafter executed by Landlord or its successors and assigns. Such subordination is automatic and is effective without any further act of Tenant, but Tenant hereby agrees from time to time on request from Landlord to execute and deliver any instruments that may be required by any lender to confirm the subordination provided for herein. Any mortgagee may elect that this Lease shall have priority over its mortgage, and upon notification of such election by such mortgagee to Tenant, this Lease shall be deemed to have priority over such mortgage whether this Lease is dated prior to or subsequent to the date of such mortgage. Tenant hereby appoints Landlord, with full power of substitution, as Tenant's attorney-in-fact (which appointment shall be irrevocable and shall be deemed to be coupled with an interest) to execute and deliver any such instrument for and in the name of Tenant. Section 21.02. Tenant, within ten (10) days after written request from Landlord shall furnish a written certificate stating whether this Lease is in full force and effect, if any amendments have been executed, if any default exist by Landlord or by Tenant hereunder and the nature of any alleged default, if Tenant is then claiming any offsets, counterclaims or defenses to this Lease, and any other matter which may be reasonably requested.

Subordination Estoppel. Section 21.0120.01. This Lease will be subject and subordinate to any mortgage of the Premises Property now existing or hereafter executed by Landlord or its successors and assigns. Such subordination is automatic and is effective without any further act of Tenant, but Tenant hereby agrees from time to time on request from Landlord to execute and deliver any instruments that may be required by any lender to confirm the subordination provided for herein. It is a condition of the effectiveness of any subordination agreement as to all mortgages which now or hereafter affect the Property, that the mortgagee of any such mortgage shall execute a commercially reasonable non-disturbance agreement which provides that in the event of foreclosure such mortgagee, its successors and assigns, will recognize Tenant's rights under this Lease and shall not disturb Tenant's possession hereunder. Any mortgagee may elect that this Lease shall have priority over its mortgage, and upon notification of such election by such mortgagee to Tenant, this Lease shall be deemed to have priority over such mortgage whether this Lease is dated prior to or subsequent to the date of such mortgage. Tenant hereby appoints Landlord, with full power of substitution, as Tenant's attorney-in-fact (which appointment shall be irrevocable and shall be deemed to be coupled with an interest) to execute and deliver any such instrument for and in the name of Tenant. Section 21.02. Tenant, within ten (10) days after written request from Landlord shall furnish a written certificate stating whether this Lease is in full force and effect, if any amendments have been executed, if any default exist by Landlord or by Tenant hereunder and the nature of any alleged default, if Tenant is then claiming any offsets, counterclaims or defenses to this Lease, and any other matter which may be reasonably requested.

Subordination Estoppel. Section 21.01. This Lease will shall not be subject and to or ---------------------- subordinate to any mortgage ground or underlying lease or to any lien, mortgage, deed of trust, or security interest now or hereafter affecting the Premises, nor shall Tenant be required to execute any documents subordinating this Lease, unless the ground Lessor, lender, or other holder of the Premises now existing or hereafter executed by Landlord or its successors interest to which this Lease shall be subordinated contemporaneously executes a recognition and assigns. Such subordination is automatic and is effective without any further act of Tenant, but Tenant hereby agrees from time to time on request from Landlord to execute and deliver any instruments that may be required by any lender to confirm the subordination provided for herein. Any mortgagee may elect nondisturbance agreement which (i) provides that this Lease shall have priority over its mortgage, and upon notification of such election by such mortgagee to Tenant, not be terminated so long as Tenant is not in default under this Lease and (ii) recognizes all of Tenant's rights hereunder. Further, Tenant shall have no obligation to attorn to any successor-in-interest or ground lessor, nor to execute any documents evidencing attornment, unless the successor-in-interest or ground lessor in question assumes, in writing, all obligations of the Landlord under this Lease. If Landlord sells or otherwise conveys its interest in the Premises, Landlord shall not be deemed to have priority over such mortgage whether this relieved of its obligations under the Lease is dated prior to or subsequent to accruing from and after the effective date of such mortgage. Tenant hereby appoints Landlordtransfer, with full power of substitution, as Tenant's attorney-in-fact (which appointment shall be irrevocable unless and shall be deemed until the successor assumes in writing the obligations to be coupled with an interest) to execute performed by Landlord on and deliver any such instrument for and in after the name effective date of Tenant. Section 21.02the transfer. TenantEach party shall, within ten (10) days after written request notice from Landlord shall furnish the other, execute and deliver to the other, in recordable form, a written certificate stating whether this that the Lease is unmodified and in full force and effect, if any amendments have or in full force and effect as modified and stating the modifications. The certificate shall also state the amount of minimum monthly rent, the date to which rent has been executedpaid in advance, if any default exist by Landlord or by Tenant hereunder and the nature amount of any alleged default, if Tenant is then claiming any offsets, counterclaims security deposit or defenses to this Lease, and any other matter which may be reasonably requestedprepaid rent.