Common use of Subsequent Security Instruments Clause in Contracts

Subsequent Security Instruments. At Landlord's election, this Lease shall become subject and subordinate to any Security Instrument created after the date of execution of this Lease provided that the Lender holding such Security Agreement agrees in writing that in the event of foreclosure of the Security Instrument in question, such Lender shall recognize the tenancy of Tenant on the terms and conditions contained in this Lease so long as Tenant is not in default under this Lease. Notwithstanding such subordination, Tenant's right to quiet possession of the Premises shall not be disturbed so long as Tenant is not in default and performs all of its obligations under this Lease, unless this Lease is otherwise terminated pursuant to its terms. However, if any Lender (as defined in Paragraph 31(h) below) of Landlord so requires, this Lease shall become prior and superior to any Security Instrument.