SUBORDINATION, NON-DISTURBANCE AGREEMENT Sample Clauses

SUBORDINATION, NON-DISTURBANCE AGREEMENT. Upon Landlord's written request, Tenant shall execute a subordination and non-disturbance agreement which is substantially in the form of Exhibit E hereto ("Subordination/Non-Disturbance Agreement"), wherein Tenant shall subordinate its rights to the lien of any future mortgage, future deed of trust, or the interest of any future lease in which Landlord is tenant and to all advances made or hereafter to be made upon the security therefor. In the event of any foreclosure sale, transfer in lieu of foreclosure, or termination of a lease in which Landlord is tenant, Tenant shall attorn to the purchaser, transferee or lessor of Landlord, at their option, and recognize such party as landlord under this Lease. Within ten (10) days after Landlord's request therefor, Tenant shall execute and deliver to Landlord the Subordination/Non-Disturbance Agreement to effectuate the purposes of this Section 16.5. Tenant acknowledges that if Tenant does not promptly comply with this Section 16.5, Tenant may cause Landlord to lose a potential loan or ground lease or to suffer the imposition of penalties or an increased rate of interest in connection with such future loan,
Sample 1
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SUBORDINATION, NON-DISTURBANCE AGREEMENT. Landlord will use reasonable efforts to obtain a non-disturbance agreement for Tenant’s benefit from the lender holding the mortgage lien on the property as of the Amendment Date (the “Lender”). The non-disturbance agreement shall be on the Lender’s approved form, a copy of which is attached to this Lease as Exhibit A, and Tenant shall pay to Landlord, as additional rent, all fees, costs, and expenses charged to Landlord by the Lender up to $2,500.00, if any, in connection with the Lender’s review of this Lease and negotiation or review of the non-disturbance agreement including, without limitation, the Lender’s legal fees. Landlord will provide invoice(s) for the Lender’s review to Tenant.
Sample 1
SUBORDINATION, NON-DISTURBANCE AGREEMENT. As a condition precedent to Tenant's agreement to be bound by Section 7A and B, Landlord agrees within thirty (30) days after the execution and delivery of this Lease to deliver from the then holder or holders of the existing Mortgage an agreement on such holder's or holders' form of agreement substantially to the effect that in the event of any foreclosure of the existing Mortgage, such holder or holders will not make Tenant a party-defendant to such foreclosure (unless required by law in order to obtain jurisdiction, but in such event, no judgment foreclosing this Lease will be sought) nor disturb its possession under this Lease so long as there shall be no default by Tenant under this Lease beyond applicable notice and grace periods (any such agreement, or any agreement of similar import, is referred to as a "Non-Disturbance Agreement" and any provisions in any Mortgage substantially to the same effect as those contained in a Non-Disturbance Agreement are
Sample 1
SUBORDINATION, NON-DISTURBANCE AGREEMENT. Landlord shall obtain for the benefit of Tenant, and shall deliver to Tenant, from any person now or hereafter holding a mortgage, deed of trust, hypothecation or other security device such person's written assurance that Tenant's occupation and use of the Premises during the initial term and any renewal term shall not be disrupted or disturbed by such person so long as Tenant is not in default under this Lease (after the expiration of any applicable cure period). In connection with such non-disturbance agreement, Tenant shall, within ten (10) business days after Landlord's written request, execute a subordination agreement (in form and substance reasonably acceptable to Landlord and Tenant) in favor of any such mortgagee agreeing that Tenant's rights and interests under this Lease shall be subject and subordinate to such first mortgage or first deed of trust and to any and all advances to be made thereunder, and to the interest thereon, and all renewals, replacements and extensions thereof.
Sample 1
SUBORDINATION, NON-DISTURBANCE AGREEMENT. This Lease and all rights of Lessee under this Lease will be subject and subordinate to the lien of any mortgage or other security document (collectively, the "Mortgage") now or hereafter affecting the Property; provided, however, that any such subordination is expressly conditioned upon Lessor obtaining the agreement of any lender holding such Mortgage (the "Mortgagee") that as long as Lessee is not in default in the performance and observance of any covenant, condition, term or provision of this Lease beyond any applicable grace or cure period, Mortgagee will not disturb Lessee's rights under this Lease, which subordination and non-disturbance agreement shall otherwise be in form and substance reasonably satisfactory to Lessee and shall be recorded in the Bureau of Conveyances of the State of Hawaii or the Office of the Assistant Registrar of the Land Court of the State of Hawaii. The lien of any such Mortgage shall not cover or encumber the System, any System related equipment or Lessee's moveable trade fixtures or other personal property of Lessee located in or on the Premises.
Sample 1
SUBORDINATION, NON-DISTURBANCE AGREEMENT. This Lease is and shall be subject and subordinate to any mortgage or mortgages now in force, or which shall at any time be placed upon the Leased Premises or the Building or any part thereof, and to each and every advance made pursuant to any such mortgage. Tenant agrees that it will upon demand execute and deliver such instruments as shall reasonably be required by any mortgagee or proposed mortgagee, to confirm or to effect more fully such subordination of this Lease to the lien of any such mortgage or mortgages. Landlord shall provide Tenant with a non-disturbance agreement from all present and future mortgagees of the Leased Premises which will expressly recognize Tenant's rights under this Lease and shall permit Tenant's continued possession of the Leased Premises under this Lease so long as Tenant is not in default, without any diminution of Tenant's rights, notwithstanding any action by any such mortgagee to foreclose its mortgage or otherwise pursue its rights pursuant to its mortgage. A non-disturbance agreement from all existing mortgagees shall be provided within thirty (30) days after the execution of this Lease. In addition, a non-disturbance agreement from each future mortgagee shall be provided within thirty (30) days after the recording of the mortgage.
Sample 1
SUBORDINATION, NON-DISTURBANCE AGREEMENT. (a)This Lease is subject and subordinate to all ground or underlying leases, and to all mortgages which now or may hereafter affect such leases or the real property of which the Premises is a part, and to all renewals, modifications, consolidations, replacements and extensions of any such underlying leases and mortgages. This clause shall be self-operative, and no further instrument of subordination shaft be required by any ground or underlying lessee or by any mortgagee affecting any lease or the real property of which the Premises is a part. In confirmation of such subordination, Tenant shall execute promptly any certificate that Landlord may reasonably request. Landlord agrees to obtain from its mortgagee, Aetna Life Insurance Company ("Aetna"), a subordination and non-disturbance agreement in the form attached hereto as Exhibit A, and thereafter from any mortgagee that may replace or succeed Aetna, in such other mortgagee's standard form of subordination and non-disturbance agreement, with such reasonable modifications as Tenant requests.
Sample 1
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Related to SUBORDINATION, NON-DISTURBANCE AGREEMENT

  • SUBORDINATION, NON-DISTURBANCE AND ATTORNMENT AGREEMENT Simultaneously upon Tenant's execution of this Lease, Tenant shall execute a Subordination, Non-Disturbance and Attornment Agreement in the form attached hereto as EXHIBIT J. Landlord shall return a fully executed Subordination, Non-Disturbance and Attornment Agreement in the form attached hereto as EXHIBIT J executed by Landlord and the Lender named therein, in recordable form, to Tenant as soon as reasonably possible but not later than ninety (90) days after the date of this Lease. Landlord shall use reasonable efforts (which efforts shall not require the expenditure of funds or the threat (or commencement) of litigation) to obtain a so-called "nondisturbance agreement" from any future Landlord's Mortgagee in the form attached hereto as EXHIBIT J or another form reasonably acceptable to Tenant and such Landlord's Mortgagee or other institutional lenders (either the form attached hereto as EXHIBIT J or such other reasonably acceptable form being herein referred to as the "NON-DISTURBANCE AGREEMENT"). Notwithstanding any other provision of this Lease, the subordination of this Lease to any Mortgage under Section 12.(a) and the Attornment of Tenant to any future Landlord Mortgagee under Section 12.(b) shall be conditioned upon such future Landlord's Mortgagee's execution and delivery of a Non-Disturbance Agreement.

  • Non-Disturbance Agreement (a) If Owner mortgages, charges or otherwise encumbers the Site, Owner shall notify Project Co and, at the request of Project Co, provide Project Co with an agreement executed by the mortgagee of the Site, permitting Project Co, Lender and Xxxxxx’s Consultant to access and use the Site under the licence granted pursuant to Section 9.1(a) and the Lender’s Direct Agreement, respectively, free from interference from the mortgagee or any person claiming by or through the mortgagee. This Section 9.5 shall not apply in respect of any portion of the Site or Facility used or developed pursuant to Section 9.2(b) if neither the licence granted pursuant to Section 9.1(a) nor the Work pertain to such portion of the Site.

  • Subordination, Non-Disturbance and Attornment In the event that Landlord places any Facility Mortgage on the Leased Property, Tenant agrees to promptly enter into, execute and deliver to the requesting party a commercially reasonable subordination, non-disturbance and attornment agreement with any such Facility Mortgagee, which shall acknowledge that this Lease, Tenant's interest hereunder and Tenant's leasehold interest in and to the Leased Property are junior, inferior, subordinate and subject in right, title, interest, lien, encumbrance, priority and all other respects to the lien of any Facility Mortgage or Mortgages now or hereafter in force and effect upon or encumbering Landlord's interest in the Leased Property, or any portion thereof, and to all collateral assignments by Landlord to any third party or parties of any of Landlord's rights under this Lease or the rents, issues and profits thereof or therefrom as security for any liability or indebtedness, direct, indirect or contingent, of Landlord to such third party or parties, and to all future modifications, extensions, renewals, consolidations and replacements of, and all amendments and supplements to any such mortgage, mortgages or assignments; provided such lender agrees not to disturb Tenant's occupancy of the Leased Property or its rights under this Lease as long as there is no existing and continuing Event of Default. If, within fifteen (15) days following Tenant's receipt of a written request by Landlord or the holder or proposed holder of any such Facility Mortgage, Tenant shall fail or refuse or shall have not executed any such subordination, non-disturbance and attornment agreement, Tenant shall be in breach and default of its obligation to do so and of this Lease and Landlord shall be entitled thereupon to exercise any and all remedies available to Landlord pursuant to this Lease or otherwise provided by law.

  • Subordination Attornment Non Disturbance Sublessee agrees that the Sublease shall be subordinate to the lien of any mortgages, deeds of trust or ground leases now or hereafter placed against the Property or Building (as those terms are defined in the Master Lease), and to all renewals and modifications, supplements, consolidations, and extensions thereof. Notwithstanding the foregoing, Lessor reserves the right, to subordinate, or cause to be subordinated, any such mortgage, deed of trust or ground lease to the Sublease. Upon a foreclosure or conveyance in lieu of foreclosure under such mortgage or deed of trust, or a termination of such ground lease, Sublessee shall attorn to and recognize such successor as Lessor under the Master Lease. Sublessee shall execute and deliver on request and in the form requested by Lessor, any instruments reasonably necessary or appropriate to evidence, effect or confirm such subordination provided that such agreement (i) shall provide Sublessee’s rights under the Sublease shall not be disturbed so long as Sublessee is not in default under the Sublease beyond applicable notice and cure periods, (ii) shall not materially modify the Sublease in any respect, (iii) shall not materially increase Sublessee’s obligations or decrease Sublessee’s rights under the Sublease. Should Sublessee fail to sign and return any such documents that comply with this Section or to provide specific written objections to such documents stating in particular how the documents fail to comply with this Sublease within ten (10) days of request, Sublessee shall be in default. Lessor agrees to make a good faith effort to obtain nondisturbance agreements.

  • Non-Disturbance Agreements Lender shall enter into, and, if required by applicable law to provide constructive notice or requested by a Tenant, record in the county where the subject Property is located, a subordination, attornment and non-disturbance agreement, substantially in form and substance substantially similar to the form attached hereto as Exhibit K (a “Non-Disturbance Agreement”), with any Tenant (other than an Affiliate of Borrower) entering into a New Lease permitted hereunder or otherwise consented to by Lender within ten (10) Business Days after written request therefor by Borrower, provided that, such request is accompanied by an Officer’s Certificate stating that such Lease complies in all material respects with this Section 8.7. All reasonable third party costs and expenses incurred by Lender in connection with the negotiation, preparation, execution and delivery of any Non-Disturbance Agreement, including, without limitation, reasonable attorneys’ fees and disbursements, shall be paid by Borrower (in advance, if requested by Lender).

  • SUBORDINATION AND NON-DISTURBANCE At the request from time to time by one or more holders of a mortgage or deed of trust that may hereafter be placed by Lessor upon the Leased Property or any part thereof, and any and all renewals, replacements, modifications, consolidations, spreaders and extensions thereof, within thirty (30) days from the date of request, Lessee shall execute and deliver and shall have all subtenants or sublessees of the Leased Property execute and deliver, to such holders a written agreement in a form reasonably acceptable to such holder whereby Lessee and such subtenants and sublessees subordinate this Lease and all of their rights and estate hereunder to each such mortgage or deed of trust that encumbers the Leased Property or any part thereof and agree with each such holder that Lessee and such subtenants and sublessees will attorn to and recognize such holder or the purchaser at any foreclosure sale or any sale under a power of sale contained in any such mortgage or deed of trust, as the case may be, as Lessor under this Lease for the balance of the Term then remaining, subject to all of the terms and provisions of this Lease; provided, however, that each such holder simultaneously executes and delivers a written agreement (a) consenting to this Lease and agreeing that, notwithstanding any such other mortgage, deed of trust, right, title or interest, or any default, expiration, termination, foreclosure, sale, entry or other act or omission under, pursuant to or affecting any of the foregoing, Lessee and such subtenants and sublessees shall not be disturbed in peaceful enjoyment of the Leased Property or the subleased property (as applicable) nor shall this Lease (nor the applicable subleases) be terminated or canceled at any time, except in the event Lessee or such applicable subtenant or sublessee is in default under this Lease or any of the Other Leases, Lessor shall have the right to terminate this Lease or the applicable subleases under the terms and provisions expressly set forth herein; (b) agreeing that for any period while it is Lessor hereunder, it will perform, fulfill and observe all of Lessor's representations, warranties and agreements set forth herein or therein; and (c) agreeing, unless otherwise expressly provided in the mortgage or deed of trust, that all proceeds of the casualty insurance described in Article XIV of this Lease and all Awards described in Article XV will be made available for restoration of the Leased Property as and to the extent required by this Lease, subject only to reasonable regulation regarding the disbursement and application thereof.

  • Non-Disturbance With respect to Security Devices entered into by Lessor after the execution of this Lease, Lessee's subordination of this Lease shall be subject to receiving assurance (a "non-disturbance agreement") from the Lender that Lessee's possession and this Lease, including any options to extend the term hereof, will not be disturbed so long as Lessee is not in Breach hereof and attorns to the record owner of the Premises.

  • Subordination; Attornment Landlord shall be entitled from time to time to place a Fee Mortgage (as defined herein) on any part of the Campus, including on the Property. As used herein, a “Fee Mortgage” shall mean any mortgage or trust deed which now or hereafter is a lien on the entire fee simple title to the Property, or any part thereof, as the same may be renewed, modified, amended, extended, consolidated or coordinated from time to time. As a condition to the placement of any such Fee Mortgage, any Fee Mortgagee (as defined herein) shall execute and deliver to and in favor of Tenant (and any Leasehold Mortgagee) an agreement to the effect that, if there shall be a foreclosure of such Fee Mortgage, such Fee Mortgagee will not in any other way foreclose Tenant from its rights, evict Tenant, disturb Tenant’s possession under this Lease, or terminate or disturb Tenant’s leasehold estate or rights hereunder except in the event of a Tenant Default (any such agreement, or any agreement of similar import, from a Fee Mortgagee being hereinafter called a “Nondisturbance Agreement”). This Lease shall be subject and subordinate to each and every Fee Mortgage which may now or hereafter affect the Property, or any part thereof, and to all renewals, extensions, supplements, amendments, modifications, consolidations and replacements thereof or thereto, substitutions therefor, and advances made thereunder, with respect to which Fee Mortgage, Tenant shall have received a Nondisturbance Agreement. In confirmation of such subordination, Tenant shall execute and deliver promptly any certificate that Landlord reasonably may request. Tenant shall not do or omit to do anything that Tenant is obligated to do under the terms of this Lease so as to cause Landlord to be in default under any Fee Mortgage.

  • Subordination Agreements Subordination Agreements with respect to all Subordinated Debt.

  • Subordination Agreement Each of (i) the subordination of interest payments to the Noteholders of the Class B Notes to the payment of any First Priority Principal Payment to the Noteholders of the Class A Notes and (ii) the subordination of interest payments to the Noteholders of the Class C Notes to the payment of any Second Priority Principal Payment to the Noteholders of the Class A Notes and the Class B Notes under Section 8.2(c) is a subordination agreement within the meaning of Section 510(a) of the Bankruptcy Code.

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