Common use of Subordination of Deed of Trust Clause in Contracts

Subordination of Deed of Trust. Notwithstanding anything to the contrary set forth above, any mortgagee or beneficiary under any mortgage or deed of trust may at any time subordinate its mortgage or deed of trust to this Lease in whole or in part, without ▇▇▇▇▇▇'s consent, by execution of a written document subordinating such mortgage or deed of trust to this Lease to the extent set forth in such document, and thereupon this Lease shall be deemed prior to such mortgage or deed of trust to the extent set forth in such document without regard to their respective dates of execution, delivery and/or recording. In that event, to the extent set forth in such document, such mortgage or deed of trust shall have the same rights with respect to this Lease as would have existed if this Lease had been executed, and a memorandum thereof recorded, prior to the execution, deliver and recording of the mortgage or deed of trust.

Subordination of Deed of Trust. Notwithstanding anything to the contrary set forth above, any mortgagee or beneficiary under any mortgage or deed of trust may at any TABLE OF CONTENTS (CONTINUED) PAGE time subordinate its mortgage or deed of trust to this Lease in whole or in part, without ▇▇▇▇▇▇any need to obtain Tenant's consent, by execution of a written document subordinating such mortgage or deed of trust to this Lease to the extent set forth in such document, and thereupon this the Lease shall be deemed prior to such mortgage or deed of trust to the extent set forth in such document without regard to their respective dates of execution, delivery and/or recording. In that event, to the extent set forth in such document, such mortgage or deed of trust shall have the same rights with respect to this Lease as would have existed if this Lease had been executed, and a memorandum thereof recorded, prior to the execution, deliver delivery and recording of the mortgage or deed of trust.