Waiver of Interest In New Ground Lease. In the event any of the Ground Leases shall be terminated by reason of a default thereunder by Mortgage Borrower and Mezzanine Lender shall require that the related Fee Owner enter into a new ground lease, Mezzanine Borrower, on behalf of Mortgage Borrower, hereby waives any right, title and interest in and to such new ground lease or the leasehold estate created thereby, waiving all rights of redemption now or hereafter operable under any law.
Appears in 7 contracts
Samples: Mezzanine Loan and Security Agreement (Station Casinos Inc), Mezzanine Loan and Security Agreement (Station Casinos Inc), Mezzanine Loan and Security Agreement (Station Casinos Inc)
Waiver of Interest In New Ground Lease. In the event any of the Ground Leases Lease shall be terminated by reason of a default thereunder by Mortgage Borrower and Mezzanine Lender shall require that from the related applicable Fee Owner enter into a new ground lease, Mezzanine Borrower, on behalf of Mortgage Borrower, Borrower hereby waives any right, title and interest in and to such new ground lease or the leasehold estate created thereby, waiving all rights of redemption now or hereafter operable under any law.
Appears in 3 contracts
Samples: Loan and Security Agreement (KBS Real Estate Investment Trust, Inc.), Loan and Security Agreement (American Financial Realty Trust), Loan and Security Agreement (American Financial Realty Trust)
