Non-Disturbance Agreement definition

Non-Disturbance Agreement means an agreement, in recordable form in the jurisdiction in which a Hotel is located, executed and delivered by the Holder of a Hotel Mortgage or a Landlord, as applicable, (which agreement shall by its terms be binding upon all assignees of such lender or landlord and upon any individual or entity that acquires title to or possession of a Hotel (referred to as a “Subsequent Owner”), for the benefit of Manager, pursuant to which, in the event such holder (or its assignee) or landlord (or its assignee) or any Subsequent Owner comes into possession of or acquires title to a Hotel, such holder (and its assignee) or landlord (or its assignee) and all Subsequent Owners shall (x) recognize Manager’s rights under this Agreement, and (y) shall not name Manager as a party in any foreclosure action or proceeding, and (z) shall not disturb Manager in its right to continue to manage the Hotels pursuant to this Agreement; provided, however, that at such time, (i) this Agreement has not expired or otherwise been earlier terminated in accordance with its terms, and (ii) there are no outstanding Events of Default by Manager, and (iii) no material event has occurred and no material condition exists which, after notice or the passage of time or both, would entitle Lessee to terminate this Agreement.
Non-Disturbance Agreement shall have the meaning set forth in Section 8.8.9.
Non-Disturbance Agreement shall have the meaning set forth in Section 5.1.20 hereof.

Examples of Non-Disturbance Agreement in a sentence

  • The agreements contained in this Paragraph 30 shall be effective without the execution of any further documents; provided, however, that, upon written request from Lessor or a Lender in connection with a sale, financing or refinancing of the Premises, Lessee and Lessor shall execute such further writings as may be reasonably required to separately document any subordination, attornment and/or Non-Disturbance Agreement provided for herein.

  • Further, within sixty (60) days after the execution of this Lease, Lessor shall use its commercially reasonable efforts to obtain a Non-Disturbance Agreement from the holder of any pre-existing Security Device which is secured by the Premises.

  • In the event that Lessor is unable to provide the Non-Disturbance Agreement within said sixty (60) days, then Lessee may, at Lessee's option, directly contact Lessor's lender and attempt to negotiate for the execution and delivery of a Non-Disturbance Agreement.

  • Such Non-Disturbance Agreement must be binding on all of Lender's participants in the subject loan (if any) and on all successors and assigns of Lender and/or its participants and on all Purchasers.

  • Further, within 60 days after the execution of this Lease, Lessor shall use its commercially reasonable efforts to obtain a Non-Disturbance Agreement from the holder of any pre-existing Security Device which is secured by the Premises.


More Definitions of Non-Disturbance Agreement

Non-Disturbance Agreement means, as to a Ground Lease for a Site that is subject to a Ground Lessor Mortgage, a non-disturbance agreement from the lender with respect to such Ground Lessor Mortgage, in form and substance reasonably satisfactory to Acquiror, the Tower Operator and, after the Initial Closing, the Sale Site Subsidiaries.
Non-Disturbance Agreement means an agreement - by the Lender or holder of a security deed, mortgage or deed of trust encumbering the Premises and Property - that in the event of foreclosure of such security deed, mortgage or deed of trust, Tenant shall remain undisturbed under this Lease so long as Tenant complies with all of the terms, obligations and conditions hereunder.
Non-Disturbance Agreement has the meaning specified in Section 7.18(g).
Non-Disturbance Agreement shall have the meaning set forth in Section 8.8.9. Note shall mean that certain Consolidated, Amended and Restated Note in the principal amount of Four Hundred Forty Million Dollars ($440,000,000.00), made by Borrower in favor of Lender as of the date hereof, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time. O&M Program shall have the meaning set forth in Section 12.2.2. Obligations shall have meaning set forth in the recitals of the Security Instrument.
Non-Disturbance Agreement means an agreement, in recordable form, executed, acknowledged and delivered by a holder or lessor to Tenant, providing in substance that so long as no default exists under this Lease which is continuing after notice and beyond the expiration of any applicable grace period, (i) the holder or the lessor, as applicable, shall not name or join Tenant nor any person claiming through or under Tenant as a party defendant to any action for foreclosure or other enforcement of the remedies under the mortgage, deed of trust or lease as applicable; (ii) the leasehold, possession and use of the Property in accordance with the terms of this Lease and all other rights of Tenant (and any person claiming through or under Tenant) under this Lease shall not be interfered with, affected or disturbed in any way by reason of the subordination of this Lease to such mortgage, deed of trust or lease or any sale pursuant to any foreclosure, deed or assignment in lieu of foreclosure or similar device; (iii) this Lease shall not be terminated in connection with, or by reason of, foreclosure or other proceedings or by reason of a transfer of the Landlord's interest under this Lease pursuant to the taking of a deed or assignment in lieu of foreclosure or similar device, or by reason of the termination or expiration of a ground lease or by other enforcement proceeding with respect to any mortgage, deed of trust or ground lease, and this Lease shall be unaffected by any of the foregoing proceedings.
Non-Disturbance Agreement means an agreement between the Tenant and a Mortgagee pursuant to which the Mortgagee agrees that provided the Tenant is not in default of any of its obligations hereunder beyond any applicable grace or call period the Tenant shall have quiet enjoyment of the Premises undisturbed by the Mortgagee or any Person claiming through or under the Mortgagee.
Non-Disturbance Agreement means a non-disturbance agreement in substantially the form attached hereto as Exhibit J.