SUBORDINATION, NON-DISTURBANCE AND ATTORNMENT AGREEMENT. Landlord shall obtain a subordination, non-disturbance and attornment agreement (“SNDA”) in the form of Exhibit F hereto from the current Landlord’s mortgagee, and Landlord shall use reasonable efforts to obtain an SNDA from any future Landlord’s mortgagee in the same or similar form of Exhibit F hereto (in any case, which form shall supersede the form contained in Appendix H to the Original Lease) or such mortgagee’s standard form with such changes as may be acceptable to Tenant and such mortgagee; however, so long as Landlord uses good faith efforts to obtain an SNDA, Landlord’s failure to obtain such agreement shall not constitute a default by Landlord hereunder or prohibit the mortgaging of the Building. If Landlord fails to deliver an SNDA, executed by Landlord and Landlord’s current mortgagee, within 30 days following the Effective Date, Tenant may terminate this Amendment (but not the Lease) by giving Landlord written notice thereof prior to the earlier of (a) the 40th day following the Effective Date, or (b) the date on which Landlord delivers the SNDA from Landlord’s current mortgagee to Tenant. The termination right afforded to Tenant under this Section 24 shall be Tenant’s sole remedy for Landlord’s failure to timely deliver an SNDA from Landlord’s current mortgagee. Time is of the essence for the delivery of Tenant’s termination notice under this Section 24; accordingly, if Tenant fails timely to deliver any such notice, Tenant’s right to terminate this Amendment under this Section 24 shall expire.
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Sources: Lease Agreement, Lease Agreement (Pervasive Software Inc)
SUBORDINATION, NON-DISTURBANCE AND ATTORNMENT AGREEMENT. Prior to the Commencement Date, Landlord shall use reasonable efforts to obtain a subordination, non-disturbance and attornment agreement (“SNDA”) in the form of Exhibit F hereto from the current Landlord’s mortgageeMortgagee, in such Mortgagee’s standard form therefor and reasonably satisfactory to Tenant. Tenant hereby agrees that, without limitation on other forms of subordination, non-disturbance and attornment agreements, the terms of the subordination, non-disturbance and attornment agreement attached hereto as Exhibit E are reasonably satisfactory to Tenant. Landlord shall use reasonable efforts to obtain an SNDA a subordination, non-disturbance and attornment agreement from any future Landlord’s mortgagee Mortgagee, in the same or similar form of Exhibit F hereto (in any case, which form shall supersede the form contained in Appendix H to the Original Lease) or such mortgageeLandlord’s Mortgagee’s standard form therefor with such changes as may be acceptable to Tenant and such mortgageeLandlord’s Mortgagee may reasonably agree; however, so long as Landlord uses good faith efforts to obtain an SNDA, Landlord’s failure to obtain such agreement shall not constitute a default by Landlord hereunder or in any manner affect Tenant’s obligations and liabilities under this Lease or prohibit the mortgaging of the BuildingPremises. If Landlord fails As used in this Section 18.1.4, “reasonable efforts” shall not be deemed to deliver an SNDA, executed include the incurrence by Landlord and of any additional liabilities or obligations with respect to the existing mortgage or Landlord’s current mortgageeMortgagee; provided, within 30 days following however, Landlord shall pay the Effective Date, Tenant may terminate this Amendment (but not the Lease) by giving Landlord written notice thereof prior to the earlier of (a) the 40th day following the Effective Date, or (b) the date on which Landlord delivers the SNDA from Landlord’s current mortgagee Mortgagee’s fees associated with providing the agreement. In the event Landlord is unable to Tenant. The termination right afforded to Tenant under this Section 24 shall be Tenant’s sole remedy for Landlord’s failure to timely deliver an SNDA from Landlord’s current mortgagee. Time is of the essence for the delivery of Tenant’s termination notice under this Section 24; accordinglyobtain a subordination, if Tenant fails timely to deliver any such noticenon-disturbance and attornment agreement, Tenant’s right subordination and attornment as set forth in Sections 18.1.1 and 18.1.2 above shall be subject to terminate this Amendment Landlord’s Mortgage’s agreement to not disturb Tenant’s use and enjoyment of the Premises so long as Tenant is not in default under this Section 24 shall expireLease.
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SUBORDINATION, NON-DISTURBANCE AND ATTORNMENT AGREEMENT. In the event any Superior Interest (as defined in the Lease) encumbers the Building, Landlord shall obtain agrees to use commercially best efforts to cause the holder of any such Superior Interest to enter into a subordination, non-disturbance nondisturbance and attornment agreement (“SNDA”) in a form to be provided by such holder of the form of Exhibit F hereto from the current Superior Interest and reasonably acceptable to Tenant. If Landlord is unable in good faith to obtain an SNDA by making such a request, Landlord shall have no liability to Tenant, it being intended that Landlord’s mortgageesole obligation shall be to request and diligently pursue its rights under the documents with such holder of the Superior Interest that the holder of such Superior Interest enter into such SNDA and, in no event shall Landlord be required to expend any sums in its effort to obtain such SNDA. In no event shall Landlord be required to commence any litigation in order to obtain an SNDA, nor shall Landlord be required to take any step which may, in Landlord’s judgment, have an adverse effect on its relationship with the holder of such Superior Interest. If such holder of the Superior Interest executes and delivers an SNDA, and Tenant either fails or refuses to execute and deliver such SNDA within ten (10) Business Days following Landlord’s delivery of such SNDA, this Lease shall be subordinate to such Superior Interest and Landlord shall use reasonable efforts have no further obligation to obtain an SNDA from any future Landlord’s mortgagee in such holder of the Superior Interest and Tenant shall have no further obligation to deliver the same and shall not suffer any penalty, default or similar form of Exhibit F hereto (liability otherwise for failing to deliver the same. Tenant shall be responsible for costs incurred in any case, which form shall supersede the form contained in Appendix H to the Original Lease) or such mortgagee’s standard form with such changes as may be acceptable to Tenant and such mortgagee; however, so long as Landlord uses good faith efforts to obtain obtaining an SNDA, Landlord’s failure to obtain including, without limitation, any attorneys’ fees or processing fees charged by such agreement shall not constitute a default by Landlord hereunder or prohibit the mortgaging holder of the Building. If Landlord fails to deliver an SNDA, executed by Landlord and Landlord’s current mortgagee, within 30 days following the Effective Date, Tenant may terminate this Amendment (but not the Lease) by giving Landlord written notice thereof prior to the earlier of (a) the 40th day following the Effective Date, or (b) the date on which Landlord delivers the SNDA from Landlord’s current mortgagee to Tenant. The termination right afforded to Tenant under this Section 24 shall be Tenant’s sole remedy for Landlord’s failure to timely deliver an SNDA from Landlord’s current mortgagee. Time is of the essence for the delivery of Tenant’s termination notice under this Section 24; accordingly, if Tenant fails timely to deliver any such notice, Tenant’s right to terminate this Amendment under this Section 24 shall expireSuperior Interest.
Appears in 1 contract
Sources: Lease (Fastly, Inc.)