Common use of Rights of Mortgagee Clause in Contracts

Rights of Mortgagee. Lessee accepts this Lease subject and subordinate to any recorded mortgage or deed of trust lien presently existing or hereafter created upon the building or project and to all existing recorded restrictions, covenants, casements and agreements with respect to the building or project. Lessor is hereby irrevocably vested with full power and authority to subordinate Lessee's interest under this Lease to any first mortgage or deed of trust lien hereafter placed on the leased premises, and Lessee agrees upon demand to execute additional instruments subordinating this Lease as Lessor may require. If the interest of Lessor under this Lease shall be transferred by reason of foreclosure or other proceedings for enforcement of any first mortgage or deed of trust on the leased premises, Lessee shall be bound to the transferee (sometimes called the "Purchaser") at the option of the Purchaser, under the terms, covenants and conditions of this Lease for the balance of the term remaining, including any extensions or renewals, with the same force and effect as if the Purchaser were Lessor under this Lease, and, if requested by the Purchaser, Lessee agrees to atorn to the Purchaser, including the first mortgage under any such mortgage if it be the Purchaser, as it's Lessor.

Rights of Mortgagee. Lessee Tenant accepts this Lease subject and subordinate to any recorded mortgage or deed of trust lien presently existing or hereafter created upon the building or project Building and to all existing recorded restrictions, covenants, casements easements and agreements with respect to the building or projectBuilding. Lessor Landlord is hereby irrevocably vested with full power and authority to subordinate LesseeTenant's interest under this Lease to any first mortgage or deed of trust lien hereafter placed on the leased premisesPremises, and Lessee Tenant agrees upon demand to execute additional instruments subordinating this Lease lease as Lessor Landlord may require. If the interest interests of Lessor Landlord under this Lease shall be transferred by reason of foreclosure or other proceedings for enforcement of any first mortgage or deed of trust on the leased premisesPremises, Lessee Tenant shall be bound to the transferee (sometimes called the "Purchaser") at the option of the Purchaser, under the terms, covenants and conditions of this Lease for the balance of the term remaining, including any extensions or renewals, with the same force and effect as if the Purchaser were Lessor Landlord under this Lease, and, if requested by the Purchaser, Lessee Tenant agrees to atorn attorn to the Purchaser, including the first mortgage mortgagee under any such mortgage if it be the Purchaser, as it's Lessorits Landlord.

Rights of Mortgagee. Lessee Tenant accepts this Lease subject and subordinate to any recorded mortgage or deed of trust lien presently existing or hereafter created upon the building Building or project Project and to all existing recorded restrictions, covenants, casements and agreements with respect to the building Building or project. Lessor is hereby irrevocably vested Project; provided, however, that contemporaneously with full power and authority to subordinate Lessee's interest under the execution of this Lease Landlord shall deliver to any first mortgage Tenant a Non-Disturbance Agreement from the holder or deed holders of all such mortgages, and deeds of trust lien hereafter placed on in substantially the leased premises, form of Exhibit F attached hereto and Lessee made a part hereof for all purposes (the "Non- Disturbance Agreement"). Tenant agrees upon demand to execute additional instruments subordinating this Lease as Lessor Landlord may reasonably require. If the interest of Lessor Landlord under this Lease shall be transferred by reason of foreclosure or other proceedings for enforcement of any first mortgage or deed of trust on the leased premisesLeased Premises, Lessee Tenant shall be bound to the transferee (sometimes called the "Purchaser") at the option of the Purchaser), under the terms, covenants and conditions of this Lease for the balance of the term Term remaining, including any extensions or renewals, with the same force and effect as if the Purchaser were Lessor Landlord under this Lease, and, if requested by the Purchaser, Lessee Tenant agrees to atorn attorn to the Purchaser, including the first mortgage mortgagee under any such mortgage if it be the Purchaser, as it's Lessorits Landlord.

Rights of Mortgagee. Lessee accepts this Lease subject and subordinate to any recorded mortgage or mortgage, deed of trust or other lien presently existing or hereafter created upon the building or project and to all existing recorded restrictions, covenants, casements and agreements with respect to the building or projectLeased Premises. Lessor is hereby irrevocably vested with full power and authority to subordinate Lessee's interest under this Lease to any first mortgage or mortgage, deed of trust or other lien hereafter placed on the leased premisesLeased Premises, and Lessee agrees upon demand to execute additional instruments subordinating this Lease as Lessor may require. If the interest of Lessor under this Lease shall be transferred by reason of foreclosure or other proceedings for enforcement of any first mortgage or deed of trust on the leased premisesLeased Premises, Lessee shall be bound to the transferee (sometimes called the "Purchaser") at the option of the Purchaser, under the terms, covenants and conditions of this Lease for the balance of the term remaining, including remaining and any extensions or renewals, with the same force and effect as if the Purchaser were Lessor under this Lease, and, if requested by the Purchaser, Lease and Lessee agrees to atorn attorn to the Purchaser, including the first mortgage mortgagee under any such mortgage if it be the Purchaser, as it's its Lessor, the attornnent to be effective and self-operative without the executing of any further instruments upon the Purchaser succeeding to the interest of Lessor under this Lease. The respective rights and obligations of Lessee and the Purchaser upon the attornment, to the extent of the then remaining balance of the term of this Lease, and any extensions and renewals, shall be and are the same as those set forth in the Lease.

Rights of Mortgagee. Lessee accepts this Lease subject and subordinate to any recorded mortgage or deed of trust lien presently existing or hereafter created upon the building or project and to all existing recorded restrictions, covenants, casements easements and agreements with respect to the building or project. Lessor is hereby irrevocably vested with full power and authority to subordinate Lessee's interest under this Lease to any first mortgage or deed of trust lien hereafter placed on the leased premises, and Lessee agrees upon demand to execute additional instruments subordinating this Lease as Lessor may require. If the interest of Lessor under this Lease shall be transferred by reason of foreclosure or other proceedings for enforcement of any first mortgage or deed of trust on the leased premises, Lessee shall be bound to the transferee (sometimes called the "Purchaser") at the option of the Purchaser, under the terms, covenants and conditions of this Lease for the balance of the term remaining, including any extensions or renewals, with the same force and effect as if the Purchaser were Lessor under this Lease, and, if requested by the Purchaser, Lessee agrees to atorn attorn to the Purchaser, including the first mortgage mortgagee under any such mortgage if it be the Purchaser, as it's its Lessor.

Rights of Mortgagee. Lessee Xxxxxx accepts this Lease subject and subordinate to ------------------- any recorded mortgage or deed of trust lien presently existing or hereafter created upon the building or project and to all existing recorded restrictions, covenants, casements and agreements with respect to the building or projectPremises by Landlord. Lessor Xxxxxxxx is hereby irrevocably vested with full power and authority to subordinate LesseeXxxxxx's interest under this Lease to any first mortgage or deed of trust lien hereafter placed on the leased premisesPremises, and Lessee Xxxxxx agrees upon demand to execute additional instruments subordinating this Lease as Lessor Landlord may require. If the interest interests of Lessor Landlord under this Lease shall be transferred by reason of foreclosure or other proceedings for enforcement of any first mortgage or deed of trust on the leased premisesPremises, Lessee Tenant shall be bound to the transferee (sometimes called the "Purchaser") ), at the option of the Purchaser, under the termsTerms, covenants and conditions of this Lease for the balance of the term remaining, including and any extensions or renewals, with the same force and effect as if the Purchaser were Lessor Landlord under this Lease, and, if requested by the Purchaser, Lessee Xxxxxx agrees to atorn attorn to the Purchaser, including the first mortgage mortgagee under any such mortgage if it be the Purchaser, as it's Lessorits Landlord.