APPROVAL BY MORTGAGEES Sample Clauses

APPROVAL BY MORTGAGEES. Anything contained in the provisions of this Lease to the contrary notwithstanding, the Landlord shall be entitled at any time hereafter but before the Landlord delivers possession of the Premises to the Tenant hereunder, to terminate this Lease by giving written notice thereof to the Tenant, if any Mortgagee fails to approve this Lease for purposes of the provisions of its Mortgage, and in the manner set forth therein.
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APPROVAL BY MORTGAGEES. Tenant hereby acknowledges that the provisions of this Lease may be subject to the approval of any lender that may hereafter make a loan secured by a mortgage or deed of trust on the Premises, the Building or the Project. If such lender shall require, as a condition to such financing, any modifications of this Lease in order to protect the security of such mortgage or deed of trust, at Landlord's request, Xxxxxx agrees to execute appropriate amendments to this Lease to effect such modifications; provided, however, that no such modification shall change the size, location or dimension of the Premises or increase the amount of the rent or other amounts payable by Tenant under this Lease or otherwise materially, adversely affects any of Tenant's rights or obligations under this Lease.
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APPROVAL BY MORTGAGEES. Tenant hereby acknowledges that the provisions of this Lease may be subject to the approval of any financial institution that may make a loan secured by a Mortgage. If the financial institution shall require, as a condition of such financing, any modifications of this Lease in order to protect its security interest in the Premises, including, without limit, modifications of the provisions relating to the damage to and/or destruction of the Premises, Tenant agrees to execute the appropriate amendments; provided, however, that no modifications shall substantially change the size, location or dimension of the Premises or increase the rentals payable by Tenant hereunder. If Tenant refuses to execute any such amendment, Landlord may, in Landlord's discretion, terminate this Lease.
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APPROVAL BY MORTGAGEES. Anything contained in the provisions of this Lease to the contrary notwithstanding, Landlord shall be entitled at any time hereafter, but before Landlord delivers possession of the Premises to Tenant hereunder, to terminate this Lease by giving written notice thereof to Tenant, if any Mortgagee fails to approve this Lease. Landlord shall use commercially reasonable efforts to obtain a SNDA from its Mortgagee.
Sample 1
APPROVAL BY MORTGAGEES. Tenant hereby acknowledges that the provisions of this Lease may be subject to the approval of the Construction Lender (as defined in the Improvement Agreement) and/or any lender providing the Landlord Financing; Tenant shall reasonably cooperate with Landlord in good faith in Landlord's efforts to obtain the Construction Loan and Landlord Financing on satisfactory terms and at a reasonably competitive rate. In connection therewith, if the Construction Lender or the lender providing the Landlord Financing shall require reasonable and necessary modifications to this Lease as a condition to providing such financing on satisfactory terms and at a reasonably competitive rate, upon Landlord's written request, Tenant shall not unreasonably withhold its consent to such modifications; provided, however, that no such modification shall change the size, location or dimension of the Premises or increase the amount of the rent or other amounts payable by Tenant under this Lease or materially affect Tenant's rights or increase Tenant's obligations hereunder.
Sample 1
APPROVAL BY MORTGAGEES. Tenant agrees to make such reasonable modifications to this Lease as may be reasonably required by a mortgagee or lender in connection with the obtaining of normal financing or refinancing of the Property, provided such modifications do not materially increase Tenant’s monetary and non-monetary obligations under this Lease or materially decrease Tenant’s rights under this Lease.
Sample 1

Related to APPROVAL BY MORTGAGEES

  • Notice to Mortgagee Notwithstanding anything to the contrary in the Lease or this Agreement, before exercising any Termination Right or Offset Right, Tenant shall provide Mortgagee with notice of the breach or default by Landlord giving rise to same (the “Default Notice”) and, thereafter, the opportunity to cure such breach or default as provided for below.

  • Subordination to Mortgages; Estoppel Certificate Tenant accepts this Lease subject and subordinate to any mortgage(s), deed(s) of trust, ground lease(s) or other lien(s) now or subsequently arising upon the Premises, the Building or the Property, and to renewals, modifications, refinancings and extensions thereof (collectively referred to as a “Mortgage”). The party having the benefit of a Mortgage shall be referred to as a “Mortgagee”. This clause shall be self-operative, but upon request from a Mortgagee, Tenant shall execute a commercially reasonable subordination agreement in favor of the Mortgagee. As an alternative, a Mortgagee shall have the right at any time to subordinate its Mortgage to this Lease. Upon request, Tenant, without charge, shall attorn to any successor to Landlord’s interest in this Lease. Landlord and Tenant shall each, within 10 days after receipt of a written request from the other, execute and deliver a commercially reasonable estoppel certificate to those parties as are reasonably requested by the other (including a Mortgagee or prospective purchaser). Without limitation, such estoppel certificate may include a certification as to the status of this Lease, the existence of any defaults and the amount of Rent that is due and payable. Notwithstanding the foregoing, upon written request by Tenant, Landlord will use reasonable efforts to obtain a non-disturbance, subordination and attornment agreement from Landlord’s then current Mortgagee on such Mortgagee’s then current standard form of agreement. “Reasonable efforts” of Landlord shall not require Landlord to incur any cost, expense or liability to obtain such agreement, it being agreed that Tenant shall be responsible for any fee or review costs charged by the Mortgagee. Upon request of Landlord, Tenant will execute the Mortgagee’s form of non-disturbance, subordination and attornment agreement and return the same to Landlord for execution by the Mortgagee. Landlord’s failure to obtain a non-disturbance, subordination and attornment agreement for Tenant shall have no effect on the rights, obligations and liabilities of Landlord and Tenant or be considered to be a default by Landlord hereunder.

  • Notice to Mortgagee and Ground Lessor After receiving notice from any person, firm or other entity that it holds a mortgage which includes the Premises as part of the mortgaged premises, or that it is the ground lessor under a lease with Landlord, as ground lessee, which includes the Premises as a part of the demised premises, no notice from Tenant to Landlord shall be effective unless and until a copy of the same is given to such holder or ground lessor, and the curing of any of Landlord’s defaults by such holder or ground lessor within a reasonable time thereafter (including a reasonable time to obtain possession of the premises if the mortgagee or ground lessor elects to do so) shall be treated as performance by Landlord. For the purposes of this Section 9.4 or Section 9.14, the term “mortgage” includes a mortgage on a leasehold interest of Landlord (but not one on Tenant’s leasehold interest).

  • Landlord’s Right To Mortgage Tenant agrees to accept the premises subject to and subordinate to any existing or future mortgage or other lien, and Landlord reserves the right to subject premises to same. Tenant agrees to and hereby irrevocably grants Landlord power of attorney for Tenant for the sole purpose of executing and delivering in the name of the Tenant any document(s) related to the Landlord’s right to subject the premises to a mortgage or other lien.

  • TENANT'S ESTOPPEL CERTIFICATE From time to time, upon written request of Landlord, Tenant shall execute, acknowledge and deliver to Landlord or its designee, a written certificate stating (a) the date this Lease was executed, the Commencement Date of the Term and the date the Term expires; (b) the date Tenant entered into occupancy of the Premises; (c) the amount of Rent and the date to which such Rent has been paid; (d) that this Lease is in full force and effect and has not been assigned, modified, supplemented or amended in any way (or, if assigned, modified, supplemented or amended, specifying the date and terms of any agreement so affecting this Lease); (e) that this Lease represents the entire agreement between the parties with respect to Tenant’s right to use and occupy the Premises (or specifying such other agreements, if any); (f) that all obligations under this Lease to be performed by Landlord as of the date of such certificate have been satisfied (or specifying those as to which Tenant claims that Landlord has yet to perform); (g) that all required contributions by Landlord to Tenant on account of Tenant’s improvements have been received (or stating exceptions thereto); (h) that on such date there exist no defenses or offsets that Tenant has against the enforcement of this Lease by Landlord (or stating exceptions thereto); (i) that no Rent or other sum payable by Tenant hereunder has been paid more than one (1) month in advance (or stating exceptions thereto); (j) that a currently valid Letter of Credit has been deposited with Landlord, stating the original amount thereof and any increases or decreases thereto; and (k) any other matters evidencing the status of this Lease that may be required either by a lender making a loan to Landlord to be secured by a deed of trust covering the Building or the Project or by a purchaser of the Building or the Project. Any such certificate delivered pursuant to this Paragraph 30 may be relied upon by a prospective purchaser of Landlord’s interest or a mortgagee of Landlord’s interest or assignee of any mortgage upon Landlord’s interest in the Premises. If Tenant shall fail to provide such certificate within ten (10) days of receipt by Tenant of a written request by Landlord as herein provided, such failure shall, at Landlord’s election, constitute a Default under this Lease, and Tenant shall be deemed to have given such certificate as above provided without modification and shall be deemed to have admitted the accuracy of any information supplied by Landlord to a prospective purchaser or mortgagee.

  • FORM OF TENANT’S ESTOPPEL CERTIFICATE The undersigned as Tenant under that certain Lease (the “Lease”) made and entered into as of ___________, 201_ by and between _______________ as Landlord, and the undersigned as Tenant, for Premises on the ______________ floor(s) of the office building located at [INSERT BUILDING ADDRESS], certifies as follows:

  • Notice to Landlord’s Mortgagee Tenant shall not seek to enforce any remedy it may have for any default on the part of Landlord without first giving written notice by certified mail, return receipt requested, specifying the default in reasonable detail, to any Landlord’s Mortgagee whose address has been given to Tenant, and affording such Landlord’s Mortgagee a reasonable opportunity to perform Landlord’s obligations hereunder.

  • Notice to Mortgagors The Seller shall mail to the Mortgagor of each related Mortgage Loan a letter advising such Mortgagor of the transfer of the servicing of the related Mortgage Loan to the Purchaser, or its designee, in accordance with the Cranston Gonzales National Affordable Housing Act of 1990 at least 15 dxxx xxxxx xx xxx related Transfer Date; provided, however, the content and format of the letter shall have the prior approval of the Purchaser. The Seller shall provide the Purchaser with copies of all such related notices no later than the related Transfer Date.

  • ABANDONMENT OF PREMISES If the property becomes vacant during the term of this lease, and if at the time of the vacancy Tenant are in default in the payment of any installment of rent, then the rent for the entire term shall become at once due and payable and Landlord may proceed to collect rent for said entire premises, with or without process of law, to take possession thereof, to remove any and all property there from and store as required by law, to lease the premises as agent of Tenant, and to apply the proceeds received from such letting toward the payment of Tenant' rent under this lease; such re-entry and re-letting shall not discharge Tenant from liability for rent, nor from any other obligation under the terms of this lease.

  • SNDA Subject to the terms and conditions contained herein, including, without limitation, Tenant’s non-disturbance rights under this Section, this Lease shall become subject to and subordinate to all mortgages, and to all advances made thereunder, the interest thereon, and all renewals, modifications, consolidations, replacements and extensions thereof if (a) the mortgagee named in said mortgage shall execute and deliver a customary Subordination, Non-Disturbance and Attornment Agreement recognizing Tenant’s and any Leasehold Mortgagee’s rights hereunder (the “SNDA”), and (b) the mortgagee named in said mortgage shall elect by written notice delivered to Tenant to subject and subordinate the rights and interest of Tenant and any Leasehold Mortgagee under this Lease to the lien of its mortgage. Alternatively, any mortgagee may elect to give the rights and interest of Tenant and any Leasehold Mortgagee under this Lease priority over the lien of its mortgage. In the event of either of such election, and upon notification by such mortgagee to Tenant to that effect, the rights and interests of Tenant under this Lease shall be deemed to be subordinate to or to have priority over, as the case may be, the lien of said mortgage(s) whether this Lease is dated prior to or subsequent to the date of said mortgage(s). This clause shall be self-operative and no further instrument of subordination shall be required by any mortgagee; provided, however, that in confirmation of such subordination, non-disturbance, and attornment rights and obligations, the mortgagee and Landlord shall execute and deliver to Tenant, and Tenant shall countersign and deliver to Landlord within fifteen (15) days of delivery to Tenant, an SNDA in the case of any subordination. The subordination of this Lease (self-operative or otherwise) pursuant to this Section is dependent upon Tenant’s receipt of a non-disturbance agreement as set forth in the SNDA. In the event Tenant fails to execute the SNDA within fifteen (15) days after demand in writing, Landlord shall deliver to Tenant a second notice to Tenant of Tenant’s obligation to so execute the SNDA, whereupon, if Tenant fails to execute or alternatively confirm in writing within ten (10) days of such final notice Landlord’s appointment as Tenant’s attorney-in-fact in its name, place and stead to execute the SNDA, Tenant hereby agrees to constitute and appoint Landlord as Tenant’s attorney-in-fact duly authorized to execute, deliver, and record the SNDA for and on behalf of Tenant and the execution of the SNDA by Landlord, on behalf of Tenant, after said fifteen (15) day and ten (10) day periods shall be conclusive evidence that Landlord has obtained for Tenant’s behalf a non-disturbance agreement as set forth in the SNDA in conformance with the provisions of this Section.

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