Common use of Subordination and Attornment Clause in Contracts

Subordination and Attornment. This Lease is subject and subordinated to any mortgages, deeds of trust or underlying leases, as well as to any extensions or modifications thereof, now of record or hereafter placed of record. Library reserves the right to subject and subordinate this Lease at all times to the lien of any first mortgage now or hereafter placed upon Library's interest in the Premises, the Building or the Property, provided that Library shall within twenty-one (21) days after the commencement of the Initial Term (or within twenty-one (21) days after the execution of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term), deliver to Tenant notice of said mortgage and a written Agreement in form satisfactory to Tenant whereby any mortgagee of the Building or the Property agrees not to disturb Tenant's operation of the Premises so long as Tenant is not in default of its obligations under this Lease or so long as the period for remedying such default shall not have expired. Tenant covenants and agrees, in the event any proceedings brought for the foreclosure of any first mortgage by a mortgagee who has previously agreed not to disturb Tenant's operation of the Premises, to attorn to the purchaser upon any foreclosure sale and to recognize such purchaser as the successor to all of the rights of Library under this Lease. In confirmation of the subordination and attornment of this Lease provided for in this Section, Tenant shall execute promptly any certificate that Library or any successor in interest reasonably may request.

Appears in 5 contracts

Samples: Lease Agreement, Lease Agreement, Lease Agreement

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Subordination and Attornment. This Lease is subject and subordinated to any mortgagesUpon Lessor’s request, deeds during the term of trust or underlying leases, as well as to any extensions or modifications thereof, now of record or hereafter placed of record. Library reserves the right to subject and subordinate this Lease at all times Agreement, Lessee shall execute a subordination agreement in recordable form wherein Lessee shall agree that this Lease Agreement is and shall be subordinate to the lien of any first mortgage now mortgages in any amount or hereafter placed upon Library's interest in amounts on all or any part of the land or buildings comprising the Premises, the Building or the Property, on or against Lessor’s interest or estate therein; provided that Library such subordination agreement shall within twenty-one (21) days after recite that the commencement subordination of Lessee’s interests pursuant thereto are subject to the Initial Term (or within twenty-one (21) days after agreement by the execution mortgagee named in any such mortgage to recognize the Lease Agreement of Lessee in the event of foreclosure of any such mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term), deliver to Tenant notice of said mortgage and a written Agreement in form satisfactory to Tenant whereby any mortgagee of the Building or the Property agrees not to disturb Tenant's operation of the Premises so long as Tenant Lessee is not in default under the Lease Agreement. Lessee covenants and agrees to execute and deliver upon demand such further instruments evidencing such subordination of its obligations under this Lease Agreement to the lien of any such mortgage as may be required by the Lessor within ten (10) days of demand therefor. Notwithstanding anything hereinabove contained, in the event the holder of any such mortgage shall at any time elect to have this Lease Agreement constitute a prior or so long as superior lien to its mortgage, then and in such event upon any such mortgage holder notifying Lessee to that effect, this Lease Agreement shall be deemed prior and superior in lien to such mortgage irrespective of whether this Lease Agreement is dated prior to or subsequent to the period for remedying date of such mortgage or lease. If Lessor enters into one or more mortgages and Lessee is advised in writing of the name and address of the mortgagee under such mortgage, then this Lease Agreement shall not be terminated or canceled on account of any default by the Lessor in the performance of any of the terms, covenants or conditions hereof on its part contained, until Lessee shall have given written notice of such default to such mortgagee, specifying the default, in which event such mortgagee shall not have expiredthe right to cure Lessor’s default as otherwise provided herein and which cure shall be accepted by Lessee. Tenant covenants and agreesLessee shall, in the event any proceedings are brought for the foreclosure of or in the event of sale under any first mortgage made by a mortgagee who has previously agreed not to disturb Tenant's operation of the Lessor covering the Premises, to attorn to the purchaser upon any such foreclosure of sale and to recognize such purchaser as the successor to all of the rights of Library Lessor under this Lease. In confirmation of the subordination and attornment of this Lease provided for in this Section, Tenant shall execute promptly any certificate that Library or any successor in interest reasonably may requestAgreement.

Appears in 4 contracts

Samples: Lease Agreement (Benefitfocus,Inc.), Lease Agreement (Benefitfocus,Inc.), Lease Agreement (Benefitfocus,Inc.)

Subordination and Attornment. This Lease is subject and subordinated to any mortgagesTenant shall, deeds of trust or underlying leasesupon Landlord’s request, as well as to any extensions or modifications thereof, now of record or hereafter placed of record. Library reserves the right to subject and subordinate this Lease at all times to the lien of any first mortgage now or hereafter placed upon Library's Landlord’s interest in the PremisesLeased Premises or upon any buildings hereafter placed upon the land of which the Leased Premises form a part. In addition, upon the Building request of Landlord, Tenant shall subordinate its rights hereunder to the lien of any mortgage or mortgages or the Propertylien or security interest from any other method of financing or refinancing (hereafter collectively referred to as “Mortgage”) now or hereafter against the Facility and the land upon which it is situated, Landlord’s interest therein, or the Leased Premises and the buildings now or thereafter built or to be built in the Facility, and to all renewals, modifications, replacements, consolidations, and extensions thereof. Tenant shall execute and deliver, upon demand, such further instrument or instruments subordinating this Lease to the lien of any such Mortgage, provided any subordination shall be upon the express condition that Library this Lease and any extension or renewal hereof shall within twenty-one (21) days after remain in full force and effect during the commencement Lease Term, notwithstanding any default in the payment and performance of such Mortgage and notwithstanding any foreclosure proceedings with respect thereto; provided, however, that Tenant shall perform all of the Initial Term (or within twenty-one (21) days after the execution terms, covenants, and conditions of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term), deliver to Tenant notice of said mortgage and a written Agreement in form satisfactory to Tenant whereby any mortgagee of the Building or the Property agrees not to disturb Tenant's operation of the Premises so long as Tenant is not in default of its obligations under this Lease or so long as the period for remedying such default shall not have expiredby it undertaken to be performed. Tenant covenants and agreesshall, in the event that any proceedings are brought for the foreclosure of any first mortgage Mortgage made by a mortgagee who has previously agreed not to disturb Tenant's operation of the Landlord covering that Leased Premises, to attorn to the purchaser upon any such foreclosure sale and to recognize such purchaser as the successor to all of the rights of Library Landlord under this Lease. In confirmation of the subordination and attornment of this Lease provided for in this Section, Tenant shall execute promptly any certificate that Library or any successor in interest reasonably may request.

Appears in 3 contracts

Samples: Sublease Agreement, Sublease Agreement, Sublease Agreement

Subordination and Attornment. This Tenant agrees that it shall, promptly upon the request of Landlord at any time or times during the Term of this Lease, execute and deliver such documents and other instruments as Landlord may reasonably require and as may otherwise be reasonably satisfactory to Tenant, to cause this Lease is subject to be and subordinated to any mortgages, deeds of trust or underlying leases, as well as to any extensions or modifications thereof, now of record or hereafter placed of record. Library reserves the right to become subject and subordinate this Lease at all times to any mortgage or deed of trust, and any renewal, extension, replacement or modification thereof, covering the lien of any first mortgage now or hereafter placed upon Library's interest in real property on which the Premises, the Building or the PropertyBuildings are located, provided that Library such mortgage or deed of trust shall within twenty-one (21) days after contain provisions to the commencement of the Initial Term (or within twenty-one (21) days after the execution of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term), deliver to Tenant notice of said mortgage and a written Agreement in form satisfactory to Tenant whereby any mortgagee of the Building or the Property agrees not to disturb Tenant's operation of the Premises effect that so long as Tenant is shall not be in default (beyond any applicable notice and cure periods) in the performance of its any obligations under to be performed by Tenant hereunder, the mortgagee, trustee or beneficiary, as the case may be, shall not terminate this Lease or so long as the period for remedying interest of Tenant in the Premises through foreclosure of such default mortgage or deed of trust, and shall not have expireddisturb the possession and use of the Premises by Tenant. In connection with the foregoing, a subordination, nondisturbance and attornment agreement in the form of Exhibit D, with no material modifications shall be deemed satisfactory to Tenant. Tenant covenants and agrees, agrees that in the event any proceedings brought for of the foreclosure enforcement, by judicial foreclosure, exercise of the power of sale, or otherwise, of any first mortgage or deed of trust covering the real property on which the Buildings are located by a mortgagee who has previously agreed not to disturb Tenant's operation the mortgagee, trustee or beneficiary thereunder of the Premisesthereof, to attorn to the purchaser upon any foreclosure sale and to recognize such purchaser as the successor to all of the rights of Library under this Lease. In confirmation of the subordination and attornment of this Lease provided for in this Sectioncase may be, Tenant shall execute promptly any certificate that Library or automatically become the lessee of any successor in interest reasonably may requestin title to said real property as a result of such enforcement, without change in the terms of this Lease. Tenant further agrees that upon request of any such successor in interest, Tenant will execute and deliver to such successor in interest an instrument or instruments confirming such attornment.

Appears in 2 contracts

Samples: Office Lease (Marrone Bio Innovations Inc), Office Lease (Marrone Bio Innovations Inc)

Subordination and Attornment. This Tenant covenants and agrees that, within ten (10) business days from Landlord’s written request, it will execute without further consideration instruments reasonably requested by Landlord or Landlord’s mortgagee subordinating this Lease is subject and subordinated in the manner requested by Landlord to any mortgages, deeds of trust all ground or underlying leases, as well as to any extensions or modifications thereof, now of record or hereafter placed of record. Library reserves the right to subject leases and subordinate this Lease at all times to the lien of any first mortgage and/or any deed of trust or other encumbrance which may now or hereafter placed upon Library's interest affect the Premises and/or the Project, or any portion thereof, together with all renewals, modifications, consolidations, replacements or extensions thereof; provided that any lienor or encumbrancer relying on such subordination or such additional agreements will covenant with Tenant that this Lease shall remain in full force and effect, and Tenant shall not be disturbed in the Premisesevent of sale, the Building foreclosure or the Property, provided that Library shall within twenty-one (21) days after the commencement of the Initial Term (or within twenty-one (21) days after the execution of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term), deliver to Tenant notice of said mortgage and a written Agreement in form satisfactory to Tenant whereby any mortgagee of the Building or the Property agrees not to disturb Tenant's operation of the Premises other actions so long as Tenant is not in default of its obligations under this Lease or so long as the period for remedying such default shall not have expiredhereunder. Tenant covenants and agrees, in the event any proceedings brought for the foreclosure of any first mortgage by a mortgagee who has previously agreed not to disturb Tenant's operation of the Premises, agrees to attorn to the purchaser upon successor in interest of Landlord following any foreclosure sale transfer of such interest either voluntarily or by operation of law and to recognize such purchaser successor as the successor to all of the rights of Library Landlord under this Lease. In confirmation of the subordination and attornment of However, if Landlord or any such ground lessor or mortgagee so elects, this Lease provided for shall be deemed prior in this Sectionlien to any ground lease, mortgage, deed of trust or other encumbrance upon or including the Premises regardless of date of recording, and Tenant shall will execute promptly any certificate that Library or any successor a statement in interest reasonably may writing to such effect at Landlord’s request.

Appears in 2 contracts

Samples: Industrial Lease (Appfolio Inc), Lease (Appfolio Inc)

Subordination and Attornment. This Lease is subject Lease, and subordinated to any mortgagesall rights of Lessee hereunder, deeds of trust or underlying leases, as well as to any extensions or modifications thereof, now of record or hereafter placed of record. Library reserves the right to are and shall be subject and subordinate this Lease at in all times respects to the lien of any first mortgage all mortgages which may now or hereafter placed upon Library's interest in affect the Demised Premises, the Building whether or the Property, provided that Library not such mortgages shall within twenty-one (21) days after the commencement of the Initial Term (also cover other lands or within twenty-one (21) days after the execution of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term), deliver to Tenant notice of said mortgage and a written Agreement in form satisfactory to Tenant whereby any mortgagee of the Building or the Property agrees not to disturb Tenant's operation of the Premises so long as Tenant is not in default of its obligations under this Lease or so long as the period for remedying such default shall not have expired. Tenant covenants and agrees, in the event any proceedings brought for the foreclosure of any first mortgage by a mortgagee who has previously agreed not to disturb Tenant's operation of the Premisesbuildings, to attorn each and every advance made or hereafter to the purchaser upon any foreclosure sale be made under such mortgages and to recognize all renewals, modifications, replacements, spreaders, consolidations and extensions of such purchaser as the successor mortgages provided such mortgage shall include a non disturbance provision with respect to all of the rights of Library under this Lease. In the event of any sale of the Demised Premises in a foreclosure of any such mortgage or the exercise by the holder of any such mortgages of any other remedies provided for by law or in such mortgage, Lessee, upon written request of the holder of the mortgage or the purchaser at such foreclosure or any person succeeding to the interest of the holder of the mortgage, shall attorn to such holder, purchaser or successor in interest, as the case may be, without change in the terms, covenants or conditions of this Lease. This Lease shall not be deemed to be terminated by any foreclosure proceedings or other remedies for the enforcement of the mortgage by such holder, purchaser or successor in interest. The provisions of this Article 30 shall be self-operative and no further instrument of subordination and/or attornment shall be required. In confirmation of the such subordination and attornment of this Lease provided for in this Sectionand/or attornment, Tenant Lessee promptly shall execute promptly and deliver at Lessee’s expense any certificate instrument that Library Lessor or the holder of any successor in interest such mortgage may reasonably may requestrequest to evidence such subordination and/or attornment; and Lessee hereby irrevocably constitutes and appoints Lessor as Lessee’s attorney-in-fact, coupled with an interest, to execute, acknowledge and deliver any such instruments for and on behalf of Lessee.

Appears in 2 contracts

Samples: Lease (Atlantic Express Transportation Corp), Lease (Atlantic Express Transportation Corp)

Subordination and Attornment. This Tenant agrees: (a) that, except as hereinafter provided, this Lease is is, and all of Tenant's rights hereunder are and shall always be, subject and subordinated subordinate to any mortgagesmortgages or security instruments (collectively called "Mortgage") that now exist, deeds of trust or underlying leasesmay hereafter be placed upon the premises or any part thereof, as well as and to any all advances made or to be made thereunder and to the interest thereon, and all renewals, replacements, modifications, consolidations, or extensions or modifications thereof, now or at any future time, (b) that if the holder of record any such Mortgage ("Mortgagee") or hereafter placed if the purchaser at any foreclosure sale or at any sale under a power of record. Library reserves sale contained in any Mortgage shall at its sole option so request, Tenant will attorn to, and recognize such Mortgagee or purchaser, as the right to subject and subordinate case may be, as Landlord under this Lease at for the balance then remaining of the lease Term, subject to all times to the lien terms of this Lease Agreement and any first mortgage now extensions thereof; and (c) that the aforesaid provision shall be self operative and no further instrument or hereafter placed upon Library's interest document shall be necessary unless required by any such Mortgagee or purchaser in the Premises, the Building which event Tenant shall execute such instrument or the Property, provided that Library shall document within twenty-one ten (2110) days after the commencement request therefor. Should Landlord or any Mortgagee or purchaser desire confirmation of such subordination or attornment, as the Initial Term (or within twenty-one (21) days after the execution of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term)case may be, Tenant upon written request, and from time to time, will execute and deliver to Tenant notice of said mortgage without charge and a written Agreement in form satisfactory to Tenant whereby any mortgagee of Landlord, the Building Mortgagee or the Property agrees not purchaser all instruments and/or documents that may be requested to disturb Tenant's operation of the Premises so long as Tenant is not in default of its obligations under this Lease or so long as the period for remedying acknowledge such default shall not have expired. Tenant covenants and agreessubordination and/or agreement to attorn, in the event any proceedings brought for the foreclosure of any first mortgage by a mortgagee who has previously agreed not to disturb Tenant's operation of the Premises, to attorn to the purchaser upon any foreclosure sale and to recognize such purchaser as the successor to all of the rights of Library under this Lease. In confirmation of the subordination and attornment of this Lease provided for in this Section, Tenant shall execute promptly any certificate that Library or any successor in interest reasonably may requestrecordable form.

Appears in 2 contracts

Samples: Lease Agreement (1 800 Autotow Inc), Lease Agreement (1 800 Autotow Inc)

Subordination and Attornment. (a) This Lease is Lease, and all rights of Tenant hereunder, are and shall be subject and subordinated subordinate in all respect to any all present and future ground leases, overriding leases and underlying leases and/or grants of term of the land and/or the Building or the Building Complex now or hereafter existing and to all mortgages, deeds of trust or underlying leasesand building loan agreements, as well as to any extensions or modifications thereofincluding leasehold mortgages, now deeds of record or hereafter placed of record. Library reserves the right to subject trust and subordinate this Lease at all times to the lien of any first mortgage building loan agreements, which may now or hereafter placed upon Library's interest in the Premises, affect the Building or the PropertyBuilding Complex or any of such leases, provided that Library whether or not such mortgages or deeds of trust shall within twenty-one (21) days after the commencement of the Initial Term (also cover other lands or within twenty-one (21) days after the execution of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term), deliver to Tenant notice of said mortgage and a written Agreement in form satisfactory to Tenant whereby any mortgagee of the Building or the Property agrees not to disturb Tenant's operation of the Premises so long as Tenant is not in default of its obligations under this Lease or so long as the period for remedying such default shall not have expired. Tenant covenants and agrees, in the event any proceedings brought for the foreclosure of any first mortgage by a mortgagee who has previously agreed not to disturb Tenant's operation of the Premisesbuildings, to attorn each and every advance made or hereafter to the purchaser upon any foreclosure sale be made under such mortgages or deeds of trust, and to recognize all renewals, modifications, replacements and extensions of such purchaser as the successor to all leases and such mortgages or deeds of the rights trust. This Paragraph shall be self-operative and no further instrument of Library under this Leasesubordination shall be required. In confirmation of the subordination and attornment of this Lease provided for in this Sectionsuch subordination, Tenant shall promptly execute promptly and deliver any certificate instrument, in recordable form if required, that Library Landlord, the lessor of any such lease or the holder of any such mortgage or deed of trust, or any successor of their respective successors in interest may reasonably may requestrequest to evidence such subordination. The leases to which this Lease is, at the time referred to, subject and subordinate pursuant to this Paragraph are hereinafter sometimes called "superior lease" and the mortgages or deeds of trust to which this Lease is, at the time referred to, subject and subordinate are hereinafter sometimes called "superior mortgages". The lessor of a superior lease or the beneficiary of a superior mortgage or their successors in interest are hereinafter sometimes collectively referred to as a "superior party".

Appears in 2 contracts

Samples: Lease (Michigan Heritage Bancorp Inc), Michigan Heritage Bancorp Inc

Subordination and Attornment. This Lease is subject and subordinated shall be subordinate to any mortgages, trust deeds of trust or underlying leasesand other financing instruments given by Landlord to its lenders and encumbering the Premises (collectively, “Mortgages”), so long as well as to any extensions or modifications thereof, now of record or hereafter placed of record. Library reserves the right to subject and subordinate this Lease at all times to the lien of any first mortgage now or hereafter placed upon Library's interest in the Premises, the Building or the Property, provided that Library shall within twenty-one (21) days after the commencement holders of the Initial Term Mortgages (or within twenty-one (21the “Mortgagees”) days after the execution of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term), deliver to Tenant notice of said mortgage and a written Agreement in form satisfactory to Tenant whereby any mortgagee of the Building or the Property agrees agree not to disturb Tenant's operation of the Premises so long as Tenant is not in default of its obligations ’s rights under this Lease or so long as in connection with the period for remedying such default shall not have expiredexercise of their rights under the Mortgages. Tenant covenants and agrees, If Landlord’s interest in the event Premises is acquired by any proceedings brought for the ground lessor, beneficiary under a deed of trust, mortgagee, or purchaser at a foreclosure of any first mortgage by a mortgagee who has previously agreed not to disturb Tenant's operation of the Premisessale, to Tenant shall attorn to the purchaser upon any foreclosure sale transferee of or successor to Landlord’s interest in the Premises and to recognize such purchaser transferee or successor as the successor to all of the rights of Library Landlord under this Lease. In confirmation Tenant waives the [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. protection of any statute or rule of law which gives or purports to give Tenant any right to terminate this Lease or surrender possession of the subordination and attornment Premises upon the transfer of this Lease provided for in this Section, Landlord’s interest. Tenant shall execute promptly sign and deliver any certificate that Library instrument or documents necessary or appropriate to evidence any successor in interest reasonably may requestsuch attornment or subordination or agreement to do so.

Appears in 2 contracts

Samples: Contract Research Agreement, Contract Research Agreement (Exelixis Inc)

Subordination and Attornment. This At Lessor's election, the rights of Tenant under this Lease is subject shall be and subordinated to any mortgages, deeds of trust or underlying leases, as well as to any extensions or modifications thereof, now of record or hereafter placed of record. Library reserves the right to are subject and subordinate this Lease at all times to the lien of any first mortgage ground lease or underlying lease now or hereafter placed upon Library's interest in force against the Leased Premises or the Building, and to any mortgage or mortgages now or hereafter in force against such leases or the Leased Premises, and to all advances made or hereafter to be made upon the Building or the Propertysecurity thereof, and to all renewals, modifications, consolidations, replacements and extensions thereof, provided that Library shall within twenty-one (21) days after the commencement of the Initial Term (such ground lessor, underlying lessor or within twenty-one (21) days after the execution of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term), deliver mortgagee agrees to Tenant notice of said mortgage recognize this Lease and a written Agreement in form satisfactory to Tenant whereby any mortgagee of the Building or the Property agrees not to disturb Tenant's operation of the Premises possession so long as Tenant is not in default beyond any applicable cure period. At the option of its obligations any mortgagee or any lessor under this Lease any ground lease or so long as the period for remedying underlying lease, Tenant shall attorn to such default shall not have expired. Tenant covenants and agrees, mortgagee or lessor in the event any proceedings brought for of a mortgage foreclosure or deed in lieu thereof or termination by such lessor. No further instrument of subordination or attornment shall be required. Notwithstanding the foreclosure of any first mortgage by a mortgagee who has previously agreed not to disturb Tenant's operation of the Premisesforegoing, to attorn to the purchaser upon any foreclosure sale and to recognize such purchaser as the successor to all of the rights of Library under this Lease. In in confirmation of the such subordination and attornment of this Lease provided for in this Sectionor attornment, within fifteen (15) days after a written request therefor, Tenant shall execute promptly any certificate that Library such further instruments as may be requested by Lessor or any successor mortgagee or lessor. Any failure to do so shall be an Event of Default pursuant to Section 26(h) hereof. Tenant hereby irrevocably appoints Lessor as attorney-in-fact for Tenant with full power and authority to execute and deliver in interest reasonably may requestthe name of Tenant any such instrument or instruments.

Appears in 2 contracts

Samples: Lease Agreement (Northwest Teleproductions Inc), Lease Agreement (Northwest Teleproductions Inc)

Subordination and Attornment. This Lease is lease shall be subject to and subordinated subordinate to any mortgages, deeds of trust trust, or underlying leases, land sale contracts (hereafter collectively referred to as well as to any extensions or modifications thereof, encumbrances) now of record or hereafter placed of recordexisting against the Building. Library reserves the right to At Landlord’s option this lease shall be subject and subordinate to any future encumbrance hereafter placed against the Building (including the underlying land) or any modifications of existing encumbrances, and Tenant shall execute such documents as may reasonably be requested by Landlord or the holder of the encumbrance to evidence this subordination. If any encumbrance is foreclosed, then if the purchaser at foreclosure sale gives to Tenant a written agreement to recognize Tenant’s lease, Tenant shall attorn to such purchaser and this Lease at all times shall continue. Notwithstanding anything to the lien contrary in the Lease, the subordination of Tenant’s rights and interest under the Lease to any mortgage or deed of trust shall be contingent upon Tenant’s having received from any such mortgagee or beneficiary of any first deed of trust a written recognition agreement in form reasonably satisfactory to Tenant providing that Tenant’s rights and interest shall not be disturbed in the event of any foreclosure of any such mortgage now or hereafter placed upon Library's deed of trust and confirming that Tenant shall receive all of the rights and services provided for under the Lease. Notwithstanding anything to the contrary in the Lease, Landlord shall, prior to the Commencement Date, use its best efforts to obtain from all ground lessors or mortgagees holding a security interest in the Premises, the Building or the PropertyProject, provided that Library shall within twenty-one (21) days after the commencement of the Initial Term (or within twenty-one (21) days after the execution of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term), deliver to Tenant notice of said mortgage and a written Agreement recognition agreement in form reasonably satisfactory to Tenant whereby any mortgagee of the Building or the Property agrees not to disturb providing that Tenant's operation of the Premises so long as Tenant is not in default of its obligations under this Lease or so long as the period for remedying such default ’s rights and interest shall not have expired. Tenant covenants and agrees, be disturbed in the event of any proceedings brought for the foreclosure of any first such mortgage by a mortgagee who has previously agreed not to disturb Tenant's operation of the Premises, to attorn to the purchaser upon any foreclosure sale or other security instrument and to recognize such purchaser as the successor to confirming that Tenant shall receive all of the rights of Library under this Lease. In confirmation of the subordination and attornment of this Lease services provided for in this Section, Tenant shall execute promptly any certificate that Library or any successor in interest reasonably may requestunder the Lease.

Appears in 1 contract

Samples: Office Lease (Eschelon Telecom Inc)

Subordination and Attornment. This Lessee agrees that, subject to the requirements of Lessor's mortgagee, this Lease is subject and subordinated may be subordinate or superior to any mortgages, deeds of trust or underlying leases, as well as to any extensions or modifications thereof, now of record a mortgage heretofore or hereafter placed of record. Library reserves the right to subject and subordinate this Lease at all times to the lien of any first mortgage now or hereafter placed upon Library's interest in executed by Lessor encumbering the Premises, the Building Building, the Common Area and/or the Project. Lessee shall, upon request, execute any such document or the Property, instrument as may reasonably be required from time to time by Lessor's mortgagee to make this Lease superior or subordinate to any mortgage. Lessee further agrees to attorn to Lessor's mortgagee provided that Library such mortgagee shall within twentyagree not to disturb Lessee's possession of the Premises during the term of this Lease so long as Lessee is in compliance with all material terms, conditions and covenants set forth in this Lease. Lessor consents to Lessee's execution of any subordination, attornment and non-one disturbance agreement that may reasonably be requested by Lessor's mortgagee. Lessee further agrees to execute and deliver to Lessor or Lessor's mortgagee, not later than five (215) days after the commencement receipt of the Initial Term (or within twenty-one (21) days after the execution of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term), deliver to Tenant notice of said mortgage and a written Agreement request therefore, and as often as requested, an estoppel certificate setting forth such information concerning this Lease as may reasonably be requested. If, in form satisfactory connection with financing obtained by Lessor with respect to Tenant whereby any the Premises, the Building, the Common Area and/or the Project, Lessor's mortgagee or other lender shall request that Lessee consent to reasonable modifications of this Lease as a condition to such financing, Lessee will not unreasonably withhold, delay or defer its consent provided that such modifications do not increase Lessee's monetary obligations hereunder, extend or reduce the Building or the Property agrees not to disturb Tenant's operation term of the Premises so long as Tenant is not in default of its obligations under this Lease or so long as adversely affect to any material extent the period for remedying such default shall not have expired. Tenant covenants and agrees, in the event leasehold interest granted to Lessee herein or any proceedings brought for the foreclosure other material term of any first mortgage by a mortgagee who has previously agreed not to disturb Tenant's operation of the Premises, to attorn to the purchaser upon any foreclosure sale and to recognize such purchaser as the successor to all of the rights of Library under this Lease. In confirmation of the subordination and attornment of this Lease provided for in this Section, Tenant shall execute promptly any certificate that Library or any successor in interest reasonably may request.

Appears in 1 contract

Samples: Lease Agreement

Subordination and Attornment. 22.1 This Lease is subject and subordinated at Landlord's option will be subordinate to any mortgagesmortgage, deeds deed of trust or underlying leases, as well as to any extensions or modifications thereof, now of record or hereafter placed of record. Library reserves the right to subject and subordinate this Lease at all times to the lien of any first mortgage related documents now or hereafter placed upon Library's interest in the Premises, the Building Complex (including all advances made thereunder), and to all amendments, renewals, replacements, or restatements thereof (collectively, "Mortgage"). Tenant agrees that no documentation other than this Lease is required to evidence such subordination, provided, however, that the Propertysubordination by Tenant to any such future mortgage, deed of trust or related documents shall be subject to Tenant obtaining a non- disturbance agreement, on such lender's standard form agreement, with changes are Tenant may reasonably require (to the extent such changes are consistent with provisions in forms customarily executed by credit-worthy full-floor tenants) whereby such lender agrees, provided Tenant is not then in default under this Lease, that Library shall within twenty-one (21) days after the commencement of the Initial Term (or within twenty-one (21) days after the execution of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term), deliver to Tenant notice of said mortgage and a written Agreement in form satisfactory to Tenant whereby any mortgagee of the Building or the Property agrees not to disturb Tenant's operation occupancy of the Premises so long as Tenant is not in default of its obligations and rights and privileges under this Lease or so long as the period for remedying such default shall not have expired. Tenant covenants be disturbed or impaired in connection with any proceeding to enforce or foreclose any such mortgage, trust indenture or other lien and agrees, in the event any proceedings brought for the foreclosure of any first mortgage by a mortgagee who has previously agreed not to disturb Tenant's operation of the Premises, to attorn if such party succeeds to the purchaser upon any foreclosure sale and to recognize interests of Landlord by reason of such purchaser as the successor to all of the rights of Library under this Lease. In confirmation of the subordination and attornment of this Lease provided for proceedings or conveyance in this Sectionlieu thereof, Tenant shall execute promptly attorn hereunder directly to such party; provided, however, such party shall not be (i) liable for any certificate that Library act or omission of any prior landlord or (ii) subject to any offsets or defenses which Tenant might have against any prior landlord, including Landlord (but such limitation shall not relieve such party from the responsibility to perform the obligations as successor to Landlord applicable during its period of ownership); or (iii) bound by any rental which Tenant might have paid for more than one (1) month in interest reasonably may requestadvance to any prior landlord; or (iv) bound by any amendment or modification of the Lease made without its consent.

Appears in 1 contract

Samples: Office Lease (Savvis Communications Corp)

Subordination and Attornment. This Lease is subject and subordinated to any mortgages, deeds all rights of trust or underlying leases, as well as to any extensions or modifications thereof, now of record or hereafter placed of record. Library reserves the right to Tenant hereunder ---------------------------- are and shall be subject and subordinate this Lease at all times to any mortgage, deed to secure debt, deed of trust, or other instrument in the lien of any first mortgage nature thereof (herein called "Security Deed") which may now or hereafter placed upon Libraryaffect Landlord's interest in fee title to the PremisesDemised Premises and/or Building. If the holder of any such Security Deed shall hereafter succeed to the rights of Landlord under this Lease, whether through possession or foreclosure action or delivery of a new lease, Tenant shall, at the Building or the Propertyrequest of such holder, attorn to and recognize such successor as Tenant's landlord under this Lease and shall promptly execute and deliver any instrument that may be necessary to evidence such attornment provided that Library shall within twenty-one (21) days after such successor recognizes the commencement validity of the Initial Term (or within twenty-one (21) days after the execution of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term), deliver to Tenant notice of said mortgage this lease and a written Agreement in form satisfactory to Tenant whereby any mortgagee of the Building or the Property agrees not to disturb that Tenant's operation of the Premises rights hereunder shall not be disturbed so long as Tenant is not in default of hereunder. In the event Landlord refinances the Building, Tenant agrees to execute any Subordination, Non-disturbance and Attornment Agreement reasonably requested by Landlord or its obligations mortgagee provided that such Agreement states that Tenant's rights under this Lease or lease shall not be disturbed so long as the period for remedying such Tenant is not in default shall not have expired. Tenant covenants and agrees, in the event any proceedings brought for the foreclosure of any first mortgage by a mortgagee who has previously agreed not to disturb Tenant's operation of the Premises, to attorn to the purchaser upon any foreclosure sale and to recognize such purchaser as the successor to all of the rights of Library under this Lease. In confirmation of the subordination and attornment of this Lease provided for in this Section, Tenant shall execute promptly any certificate that Library or any successor in interest reasonably may requesthereunder.

Appears in 1 contract

Samples: Sonic Foundry Inc

Subordination and Attornment. SECTION 10.01 This Lease is subject lease and subordinated to any mortgages, deeds all rights of trust or underlying leases, as well as to any extensions or modifications thereof, now of record or hereafter placed of record. Library reserves the right to Tenant hereunder are subject and subordinate this Lease at all times to the lien of any first mortgage now or hereafter placed upon Library's interest in the Premises, the Building or the Property, (provided that Library shall within twenty-one (21) days after the commencement of the Initial Term (or within twenty-one (21) days after the execution of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term), deliver to Tenant notice of said mortgage and a written Agreement mortgagee expressly agrees in form satisfactory to Tenant whereby any mortgagee of the Building or the Property agrees writing not to disturb Tenant's operation of the Premises so ’s possession as long as Tenant is not in default of its obligations under this Lease lease) to any deeds of trust, mortgages or so other instruments of security, as well as to any ground leases or primary leases, that now or hereafter cover all or any part of the Shopping Center, the land situated beneath the Shopping Center, or any interest of Owner therein, and to any and all advances made on the security thereof, and to any and all increases, renewals, modifications, consolidations, replacements and extensions of any of such deeds of trust, mortgages, instruments of security or leases. This provision is hereby declared by Owner and Tenant to be self-operative and no further instrument shall be required to effect such subordination of this lease. Tenant shall, however, within 30 days of demand, at any time or times, execute, acknowledge and deliver to Owner any and all instruments and certificates that may be reasonably necessary or proper to confirm or evidence such subordination, provided the instrument expressly provides for an undertaking by the mortgagee not to disturb Tenant’s possession as long as Tenant is not in default under this lease. Notwithstanding the period for remedying generality of the foregoing provisions of this paragraph, Txxxxx agrees that any such default mortgagee shall not have expiredthe right at any time to subordinate any such deeds of trust, mortgages or other instruments of security to this lease on such terms and subject to such conditions as such mortgagee may deem appropriate in its discretion. Tenant further covenants and agreesagrees within 30 days of demand by Owner’s mortgagee at any time, in before or after the event institution of any proceedings brought for the foreclosure of any first mortgage by a mortgagee who has previously agreed not to disturb Tenant's operation such deeds of trust, mortgages or other instruments of security, or sale of the PremisesShopping Center pursuant to any such deeds of trust, mortgages or other instruments of security, to attorn to the such purchaser upon any foreclosure such sale and to recognize such purchaser as the successor to all of the rights of Library Owner under this Leaselease. In confirmation The agreement of Tenant to attorn upon demand of Owner’s mortgagee contained in the subordination and attornment of this Lease provided for in this Section, immediately preceding sentence shall survive any such foreclosure sale or trustee’s sale. Tenant shall execute promptly within 30 days of demand at any certificate time or times, before or after any such foreclosure sale or trustee’s sale, execute, acknowledge and deliver to Owner’s mortgagee any and all instruments and certificates that Library may be reasonably necessary or any successor in interest reasonably may requestproper to confirm or evidence such attornment.

Appears in 1 contract

Samples: Lease (Midwest Banc Holdings Inc)

Subordination and Attornment. This Lease is subject subordinate to all Superior Leases and subordinated Mortgages (defined in Section 24.4), and Tenant will attorn to any mortgages, deeds of trust each person or underlying leases, as well as entity that succeeds to any extensions or modifications thereof, now of record or hereafter placed of record. Library reserves the right to subject and subordinate this Lease at all times to the lien of any first mortgage now or hereafter placed upon LibraryLandlord's interest in the Premises, the Building or the Propertyunder this Lease, provided that Library shall within twenty-one (21) days after the commencement of the Initial Term (such person or within twenty-one (21) days after the execution of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term), deliver to Tenant notice of said mortgage and a written Agreement entity agrees in form satisfactory to Tenant whereby any mortgagee of the Building or the Property agrees writing not to disturb Tenant's operation of the Premises so rights under this Lease as long as Tenant is not in default. This Section is self-operative, but if requested to confirm a subordination and/or attornment or non- disturbance, Tenant will execute subordination and/or attornment and/or non-disturbance agreements furnished by Landlord or Landlord's lessor or mortgagee under any of the Superior Leases and Mortgages (a "Landlord's Mortgagee") within twenty (20) days after request and provided that such agreements: materially substantively conform to typical institutional forms of agreements then in use and do not result in a material adverse change in any of the material terms of this Lease, and provided that any such subordination agreements shall provide that the lender shall agree to concurrently deliver to Tenant any notices of Landlord's default delivered to Landlord and to accept from Tenant a cure of its obligations such defaults (if and to the extent that such defaults are curable by Tenant) within the cure periods for such defaults granted to Landlord under such loans; or materially substantively conform to one or more of the forms attached as Exhibit "J" hereto. However, if Landlord or Landlord's Mortgagee elects in writing, this Lease or so long as will be superior to the period for remedying such default shall not have expired. Tenant covenants Superior Leases and agreesMortgages specified, in the event any proceedings brought for the foreclosure of any first mortgage by a mortgagee who has previously agreed not to disturb Tenant's operation regardless of the Premisesdate of recording, to attorn to the purchaser upon any foreclosure sale and to recognize such purchaser as the successor to all of the rights of Library under Tenant will execute an agreement confirming this Lease. In confirmation of the subordination and attornment of this Lease provided for in this Section, Tenant shall execute promptly any certificate that Library or any successor in interest reasonably may election on request.

Appears in 1 contract

Samples: Picturetel Corp

Subordination and Attornment. This Tenant covenants and agrees that it ----------------------------- will execute without further consideration any and all instruments desired by Landlord or Landlord's First Mortgagee subordinating this Lease is subject and subordinated in the manner requested by landlord to any mortgages, deeds of trust all ground or underlying leases, as well as to any extensions or modifications thereof, now of record or hereafter placed of record. Library reserves the right to subject leases and subordinate this Lease at all times to the lien of any first mortgage mortgagee and/or First Deed of Trust or other encumbrance which may now or hereafter placed upon Library's interest in affect the Premises, the Building together with all renewals, modifications, consolidations, replacements or the Property, extensions thereof; provided that Library any or lien or encumbrancer relying on such subordination or such additional agreements will covenant with Tenant that this Lease shall within twenty-one (21) days after remain in full force and effect, and Tenant shall not be disturbed in the commencement event of the Initial Term (sale, foreclosure or within twenty-one (21) days after the execution of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term), deliver to Tenant notice of said mortgage and a written Agreement in form satisfactory to Tenant whereby any mortgagee of the Building or the Property agrees not to disturb Tenant's operation of the Premises other actions so long as Tenant is not in default of its obligations under this Lease or so long as the period for remedying such default shall not have expiredhereunder. Tenant covenants and agrees, in the event any proceedings brought for the foreclosure of any first mortgage by a mortgagee who has previously agreed not to disturb Tenant's operation of the Premises, agrees to attorn to the purchaser upon successor in interest of Landlord following any foreclosure sale transfer of such interest either voluntarily or by operation of law and to recognize it recognizes such purchaser successor as the successor to all of the rights of Library Landlord under this Lease. In confirmation of the subordination and attornment of However, if Landlord or any such ground lessor or First Mortgagee so elects, this Lease provided for shall be deemed prior in this Sectionlien to any ground lease, mortgage, First Deed of Trust or other encumbrance upon or including the Premises regardless of date of recording and Tenant shall will execute promptly any certificate that Library or any successor a statement in interest reasonably may writing to such effect at Landlord's request.

Appears in 1 contract

Samples: Office Lease (Anchor Pacific Underwriters Inc)

Subordination and Attornment. This Tenant accepts this Lease is subject and subordinated subordinate to any mortgages, mortgages and/or deeds of trust now or underlying leasesat any time hereafter constituting a lien or charge upon the Leased Premises or the improvements situated thereon; provided, as well as however, that if the mortgagee, trustee, or holder of any such mortgage or deed of trust elects to have Tenant's interest in this Lease superior to any extensions such instrument, then by notice to Tenant from such mortgagee, trustee or modifications thereofholder, now of record or hereafter placed of record. Library reserves the right to subject and subordinate this Lease at all times shall be deemed superior to such lien, whether this Lease was executed before or after said mortgage or deed of trust. Landlord agrees to promptly obtain and deliver to Tenant a subordination non-disturbance and attornment agreement in substantially the form attached hereto as Exhibit "G" and made a part hereof ("SNDA") executed by Landlord's current mortgagee with respect to the lien Land. Tenant agrees to enter into the SNDA with such mortgagee promptly upon Landlord's request therefor. Notwithstanding the foregoing, the subordination of this Lease to any first mortgage now or deed of trust that is hereafter placed upon Library's interest the Land is expressly conditioned upon Tenant and the mortgagee or beneficiary under any such mortgage or deed of trust entering into an SNDA in a form reasonably acceptable to Tenant (Tenant hereby agreeing that an SNDA substantially in the Premises, the Building or the Property, provided form that Library shall within twenty-one (21) days after the commencement of the Initial Term (or within twenty-one (21) days after the execution of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Termis attached hereto as Exhibit "G" and made a part hereof is acceptable to Tenant), deliver to Tenant notice of said mortgage and a written Agreement in form satisfactory to Tenant whereby any mortgagee of the Building or the Property agrees not to disturb Tenant's operation of the Premises so long as Tenant is not in default of its obligations under this Lease or so long as the period for remedying such default shall not have expired. Tenant covenants and agrees, agrees to enter into such SNDA with any such mortgagee or beneficiary promptly upon Landlord's request therefor. Tenant shall be permitted to record the SNDA in the event real property records of Tarrant County, Texas. If any proceedings brought for future mortgagee or beneficiary under a mortgage or deed of trust hereafter placed upon the foreclosure Land desires to subordinate its mortgage or deed of any first mortgage by a mortgagee who has previously agreed not trust to disturb Tenant's operation of the Premises, to attorn to the purchaser upon any foreclosure sale and to recognize such purchaser as the successor to all of the rights of Library under this Lease. In confirmation of the subordination and attornment of this Lease provided for in this Section, Tenant agrees that it shall promptly execute promptly any certificate that Library such instrument as may be reasonably required by such mortgagee or any successor beneficiary in interest reasonably may requestorder to effect such subordination.

Appears in 1 contract

Samples: Building Lease Agreement (Ameritrade Holding Corp)

Subordination and Attornment. This (a) Tenant agrees that this Lease is subject and subordinated to any mortgages, deeds of trust or underlying leases, as well as to any extensions or modifications thereof, now of record or hereafter placed of record. Library reserves the right to shall be subject and subordinate this Lease at all times to the lien of any first mortgage mortgages that may now or hereafter be placed upon Librarythe Real Property, and to all present or future advances under the obligations secured thereby, and all renewals, amendments, modifications, consolidations, replacements and extensions thereof, to the full extent of all amounts secured by such mortgages from time to time. Said subordination shall have the same force and effect as if such mortgages and any such renewals, modifications, consolidations, replacements and extensions thereof had been executed, acknowledged, delivered and recorded prior to the execution of this Lease. Notwithstanding the foregoing, Tenant's agreement to subordinate its leasehold interest in the Premises, Premises to the Building or the Property, provided that Library shall within twenty-one (21) days after the commencement interest of the Initial Term (or within twenty-one (21) days after the execution of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term), deliver to Tenant notice of said mortgage and a written Agreement in form satisfactory to Tenant whereby any mortgagee or deed of trust holder (collectively, "mortgagee") is contingent upon such mortgagee, for itself and its successors and assigns, entering into a nondisturbance agreement with Tenant which will provide that, so long as no event of default by Tenant under this Lease has occurred and is continuing: (i) Tenant shall not be joined as a party defendant in any foreclosure or other action which may be instituted by such mortgagee by reason of any default under the Building or the Property agrees terms of its lending arrangements; (ii) Tenant shall not to disturb Tenant's operation be dispossessed of the Premises so long as Tenant is not in default of its obligations by such mortgagee; (iii) Tenant's leasehold estate under this the Lease or so long as the period for remedying such default shall not have expired. Tenant covenants be terminated or disturbed by such mortgagee; and agrees(iv) Tenant's rights under the Lease shall not be diminished, in or Tenant's obligations increased, by reason of any default under the event mortgagee's lending arrangements or any proceedings brought for the foreclosure of any first mortgage by a mortgagee who has previously agreed not to disturb Tenant's operation or transfer of the Premises, Real Property to attorn such mortgagee in lieu of foreclosure. Landlord agrees to obtain for the purchaser upon any foreclosure sale and to recognize such purchaser as benefit of Tenant a non- disturbance agreement (consistent with the successor to requirements set forth above) from all existing mortgagees of the rights of Library under this Lease. In confirmation of the subordination and attornment of this Lease provided for in this Section, Tenant shall execute promptly any certificate that Library or any successor in interest reasonably may requestReal Property.

Appears in 1 contract

Samples: Lease Agreement (Tellium Inc)

Subordination and Attornment. This Tenant covenants and agrees that it ---------------------------- will execute without further consideration any and all instruments desired by Landlord or Landlord's First Mortgagee subordinating this Lease is subject and subordinated in the manner requested by Landlord to any mortgages, deeds of trust all ground or underlying leases, as well as to any extensions or modifications thereof, now of record or hereafter placed of record. Library reserves the right to subject leases and subordinate this Lease at all times to the lien of any first mortgage mortgagee and/or First Deed of Trust or other encumbrance which may now or hereafter placed upon Library's interest in affect the Premises, the Building together with all renewals, modifications, consolidations, replacements or the Property, extensions thereof; provided that Library any lienor or encumbrancer relying on such subordination or such additional agreements will covenant with Tenant that this Lease shall within twenty-one (21) days after remain in full force and effect, and Tenant shall not be disturbed in the commencement event of the Initial Term (sale, foreclosure or within twenty-one (21) days after the execution of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term), deliver to Tenant notice of said mortgage and a written Agreement in form satisfactory to Tenant whereby any mortgagee of the Building or the Property agrees not to disturb Tenant's operation of the Premises other actions so long as Tenant is not in default of its obligations under this Lease or so long as the period for remedying such default shall not have expiredhereunder. Tenant covenants and agrees, in the event any proceedings brought for the foreclosure of any first mortgage by a mortgagee who has previously agreed not to disturb Tenant's operation of the Premises, agrees to attorn to the purchaser upon successor in interest of Landlord following any foreclosure sale transfer of such interest either voluntarily or by operation of law and to recognize it recognizes such purchaser successor as the successor to all of the rights of Library Landlord under this Lease. In confirmation of the subordination and attornment of However, if Landlord or any such ground lessor or First Mortgagee so elects, this Lease provided for shall be deemed prior in this Sectionlien to any ground lease, mortgage, First Deed of Trust or other encumbrance upon or including the Premises regardless of date of recording and Tenant shall will execute promptly any certificate that Library or any successor a statement in interest reasonably may writing to such effect at Landlord's request.

Appears in 1 contract

Samples: Office Lease (Anchor Pacific Underwriters Inc)

Subordination and Attornment. This Lease is subject and subordinated to any mortgages, deeds of trust or underlying leases, as well as to any extensions or modifications thereof, now of record or hereafter placed of record. Library Landlord reserves the right to place liens and encumbrances on the Premises superior in lien and effect to this Lease. This Lease, and all rights of Tenant hereunder, shall, at the option of Landlord, be subject and subordinate this Lease at all times to the lien of any first mortgage liens and encumbrances now or hereafter placed imposed by Landlord upon Library's interest in the Premises, the Building Premises or the PropertyReal Estate or any part thereof, provided that Library shall within twenty-one (21) days after the commencement of the Initial Term (or within twenty-one (21) days after the execution of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term)and Tenant agrees to execute, acknowledge, and deliver to Tenant notice of said mortgage Landlord, upon request, any and a written Agreement in form satisfactory all instruments that may be necessary or proper to Tenant whereby any mortgagee of the Building or the Property agrees not to disturb Tenant's operation of the Premises so long as Tenant is not in default of its obligations under subordinate this Lease and all rights herein to any such lien or so long encumbrance as the period for remedying such default shall not have expiredmay be required by Landlord. Tenant covenants and agrees, in In the event any proceedings are brought for the foreclosure of any first mortgage by a mortgagee who has previously agreed not to disturb Tenant's operation of on the Premises, to Tenant will attorn to the purchaser upon any at the foreclosure sale and to recognize such purchaser as the successor to all of the rights of Library Landlord under this Lease. In confirmation The purchaser, by virtue of such foreclosure, shall be deemed to have assumed, as substitute Landlord, the subordination terms and attornment conditions of this Lease provided for in until the resale or other disposition of its interest. Such assumption, however, shall not be deemed an acknowledgment by the purchaser of the validity of any then existing claims of Tenant against the prior Landlord. Tenant agrees to execute and deliver such further assurances and other documents, including a new lease upon the same terms and conditions contained herein, confirming the foregoing, as such purchaser may reasonably request. Tenant waives any right of election to terminate this Section, Tenant shall execute promptly Lease because of any certificate that Library or any successor in interest reasonably may requestsuch foreclosure proceedings.

Appears in 1 contract

Samples: Lease (Professional Veterinary Products LTD /Ne/)

Subordination and Attornment. This Xxxxxx agrees that this Lease is subject and subordinated to any mortgages, deeds of trust or underlying leases, as well as to any extensions or modifications thereof, now of record or hereafter placed of record. Library reserves the right to shall be subject and subordinate this Lease at all times to the lien any mortgages or Deeds of any first mortgage Trust now or hereafter placed upon Library's the Premises and to all modifications thereto, and to all present and future advances made with respect to any such mortgage or deed of trust. Xxxxxx agrees, at any time during the term of this Lease, to execute any and all documents necessary to effectuate this subordination, which Landlord may request. Xxxxxx agrees to attorn to the mortgagee, trustee, or beneficiary under any such mortgage or deed of trust or the purchaser at a sale pursuant to the foreclosure thereof. In the event of the sale, assignment, or transfer by Landlord of its interest in the PremisesPremises to a successor in interest who expressly assumes the obligations of the Landlord hereunder, the Building Landlord shall thereupon be released or discharged from all of its covenants and obligations hereunder, except such obligations as shall have accrued prior to any such sale, assignment or transfer; and Xxxxxx agrees to look solely to any successor in interest of the Property, provided that Library Landlord for performance of any such obligations. Tenant shall within twenty-one have ten (2110) days after the commencement from its receipt of Landlord's request to deliver any such fully executed documents to Landlord. Xxxxxx's failure to execute and deliver any such documents shall constitute a default hereunder. Notwithstanding any of the Initial Term (or within twenty-one (21) days after the execution of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term)foregoing, deliver to Tenant notice of said mortgage Xxxxxx's quiet possession and a written Agreement in form satisfactory to Tenant whereby any mortgagee of the Building or the Property agrees not to disturb Tenant's operation enjoyment of the Premises shall not be disturbed so long as Tenant is not in default of performs its obligations under this Lease or so long as the period for remedying such default shall not have expired. Tenant covenants and agrees, in the event any proceedings brought for the foreclosure of any first mortgage by a mortgagee who has previously agreed not to disturb Tenant's operation of the Premises, to attorn to the purchaser upon any foreclosure sale and to recognize such purchaser as the successor to all of the rights of Library under this Lease. In confirmation of the subordination and attornment of this Lease provided for in this Section, Tenant shall execute promptly any certificate that Library or any successor in interest reasonably may request.

Appears in 1 contract

Samples: Lease (Celebrateexpress Com Inc)

Subordination and Attornment. This Lease is subject and subordinated the estate, interest and rights hereby created are subordinate to any mortgages, deeds of trust or underlying leases, as well as to any extensions or modifications thereof, now of record or hereafter placed of record. Library reserves the right to subject and subordinate this Lease at all times to the lien of any first mortgage now or hereafter placed upon Library's interest in the PremisesLot, the Building or the Propertyany estate or interest therein, provided that Library shall within twenty-one (21) days after the commencement including, without limitation, any mortgage on any leasehold estate, and to all renewals, modifications, consolidations, replacements and extensions of the Initial Term (or within twenty-one (21) days after the execution of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term), deliver to Tenant notice of said mortgage and a written Agreement in form satisfactory to Tenant whereby same as well as any mortgagee of the Building or the Property agrees not to disturb Tenant's operation of the Premises so long as Tenant is not in default of its obligations under this Lease or so long as the period for remedying such default shall not have expiredsubstitutions therefor. Tenant covenants and agrees, agrees that in the event any proceedings brought person, firm, corporation or other entity acquires the right to possession of the Lot and the Building including any mortgagee or holder of any estate or interest having priority over this Lease, Tenant shall, if requested by such person, firm, corporation or other entity, attorn to and become the tenant of such person, firm, corporation or other entity, upon the same terms and conditions as are set forth herein for the foreclosure balance of the Lease Term. Notwithstanding the foregoing, any first mortgagee may, at any time, subordinate its mortgage by a mortgagee who has previously agreed not to disturb this Lease, without Tenant's operation consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such mortgage without regard to their respective dates of execution and delivery, and in that event, such mortgagee shall have the same rights with respect to this lease as though it had been executed prior to the execution and delivery of the Premisesmortgage. Tenant, if requested by Landlord, shall execute any such instruments in recordable form as ma~ be reasonably required by Landlord in order to attorn to the purchaser upon any foreclosure sale and to recognize such purchaser as the successor to all of the rights of Library under this Lease. In confirmation of confirm or effect the subordination and attornment of this Lease provided for and the attornment of Tenant to future landlords in accordance with the terms of this Section, Tenant shall execute promptly any certificate that Library or any successor in interest reasonably may request.

Appears in 1 contract

Samples: Agreement of Lease (Worldgate Communications Inc)

Subordination and Attornment. This Lease is subject and subordinated 36.1. Subject to the delivery of the non-disturbance agreements described in this Article 36 as a condition precedent to any mortgagessuch subordination, deeds of trust or underlying leases, as well as to any extensions or modifications thereof, now of record or hereafter placed of record. Library reserves the right to this Lease shall be subject and subordinate this Lease at all times to the lien of any first mortgage mortgage, deed of trust, or lease in which Landlord is tenant now or hereafter placed in force against the Property or any portion thereof and to all advances made or hereafter to be made upon Library's interest in the Premises, security thereof without the Building or the Property, provided that Library shall within twenty-one (21) days after the commencement necessity of the Initial Term (execution and delivery of any further instruments on the part of Tenant to effectuate such subordination. In consideration of, and as a condition precedent to, Tenant’s agreement to permit its interest pursuant to this Lease to be subordinated to any particular future ground or within twenty-one (21) days after the execution underlying lease of the mortgage if the Building Buildings or the Property becomes mortgaged after or to the commencement lien of any mortgage or trust deed, hereafter enforced against the Initial Term)Buildings or the Property and to any renewals, extensions, modifications, consolidations and replacements thereof, Landlord shall deliver to Tenant notice a non-disturbance agreement on (a) the form of said Exhibit M attached hereto, (b) a commercially reasonable form of non-disturbance agreements of the lessor under such ground lease or underlying lease or the holder of such mortgage or trust deed, or (c) another commercially reasonable form. Landlord’s delivery to Tenant of non-disturbance agreement(s) in favor of Tenant from any ground lessors, mortgage holders or lien holders of Landlord who later came into existence at any time prior to the expiration of the Term shall be in consideration of, and a written Agreement in form satisfactory condition precedent to, Tenant’s agreement to Tenant whereby any mortgagee be bound by the terms of the Building or the Property agrees not to disturb Tenant's operation of the Premises so long as Tenant is not in default of its obligations under this Lease or so long as the period for remedying such default shall not have expiredArticle 36. Tenant covenants shall be entitled, at Tenant’s sole cost and agrees, in the event any proceedings brought for the foreclosure of any first mortgage by a mortgagee who has previously agreed not to disturb Tenant's operation of the Premisesexpense, to attorn to the purchaser upon record any foreclosure sale such non-disturbance agreement promptly after full execution and to recognize delivery of such purchaser as the successor to all of the rights of Library under this Lease. In confirmation of the subordination and attornment of this Lease provided for in this Section, Tenant shall execute promptly any certificate that Library or any successor in interest reasonably may requestagreement.

Appears in 1 contract

Samples: Lease (Illumina Inc)

Subordination and Attornment. This Lease is subject and subordinated to any mortgages, deeds of trust or underlying leases, as well as to any extensions or modifications thereof, now of record or hereafter placed of record. Library reserves the right to shall at all times be automatically subject and subordinate this Lease at all times to the lien of any first mortgage now or hereafter Mortgage that may be placed upon Library's interest in the PremisesPremises by Landlord, the Building or the Propertyany part thereof, provided that Library shall within twenty-one (21) days after the commencement and to all amounts secured thereby, and to all renewals, replacements and extensions of any of the Initial Term (or within twenty-one (21) days after foregoing, except to the execution of extent that any Mortgage provides otherwise, upon the mortgage if condition that Tenant shall have the Building or the Property becomes mortgaged after the commencement of the Initial Term), deliver right to Tenant notice of said mortgage and a written Agreement remain in form satisfactory to Tenant whereby any mortgagee of the Building or the Property agrees not to disturb Tenant's operation possession of the Premises under the terms of this Lease, notwithstanding any default in such Mortgage, or after the foreclosure of such Mortgage, so long as no Event of Default shall have occurred and be continuing. Txxxxx further agrees that, in the event of a foreclosure of any Mortgage or of a conveyance in lieu thereof, it will attorn to the mortgagee or to the purchaser at any foreclosure sale, as the case may be, upon the condition that such mortgagee or purchaser shall agree in writing to recognize Tenant and this Lease, so long as Tenant is not then in default default. Tenant shall at Landlord's request execute a commercially reasonable subordination, nondisturbance and attornment agreement (“SNDA”) or such further instruments or assurances as any mortgagee or purchaser may request to evidence: (i) the subordination of its obligations under this Lease or so long to acknowledge the superiority of this Lease, as the period for remedying such default shall not have expired. Tenant covenants and agreescase may be, in the event any proceedings brought for the foreclosure of any first mortgage by a mortgagee who has previously agreed not to disturb (ii) Tenant's operation attornment agreement, and/or (iii) the acknowledgment of the Premises, to attorn express obligations of Tenant to the purchaser upon any foreclosure sale and to recognize such purchaser as the successor to all of the rights of Library under this Lease. In confirmation of the subordination and attornment of this Lease Landlord's Mortgagee that are provided for in this SectionLease, Tenant shall execute promptly any certificate provided that Library or any successor in interest such instruments and assurances are on terms reasonably may requestacceptable to Tenant.

Appears in 1 contract

Samples: Lease (Fulgent Genetics, Inc.)

Subordination and Attornment. This Lease is subject and subordinated 32.1. Subject to the delivery of the non-disturbance agreements described in this Article 32 as a condition precedent to any mortgagessuch subordination, deeds of trust or underlying leases, as well as to any extensions or modifications thereof, now of record or hereafter placed of record. Library reserves the right to this Lease shall be subject and subordinate this Lease at all times to the lien of any first mortgage mortgage, deed of trust, or lease in which Landlord is tenant now or hereafter placed in force against the Premises or any portion thereof and to all advances made or hereafter to be made upon Library's the security thereof without the necessity of the execution and delivery of any further instruments on the part of Tenant to effectuate such subordination. In consideration of, and as a condition precedent to, Tenant’s agreement to permit its interest in pursuant to this Lease to be subordinated to any particular future ground or underlying lease of the Premises, the Building Buildings or the PropertyPremises or to the lien of any mortgage or trust deed, provided that Library shall within twenty-one (21) days after hereafter enforced against the commencement of the Initial Term (or within twenty-one (21) days after the execution of the mortgage if the Building Buildings or the Property becomes mortgaged after the commencement of the Initial Term)Premises and to any renewals, extensions, modifications, consolidations and replacements thereof, Landlord shall deliver to Tenant notice a non-disturbance agreement on (a) the form of said Exhibit E attached hereto, (b) a commercially reasonable form of non-disturbance agreements of the lessor under such ground lease or underlying lease or the holder of such mortgage or trust deed, or (c) another commercially reasonable form. Landlord’s delivery to Tenant of non-disturbance agreement(s) in favor of Tenant from any ground lessors, mortgage holders or lien holders of Landlord who later came into existence at any time prior to the expiration of the Term shall be in consideration of, and a written Agreement in form satisfactory condition precedent to, Tenant’s agreement to Tenant whereby any mortgagee be bound by the terms of the Building or the Property agrees not to disturb Tenant's operation of the Premises so long as Tenant is not in default of its obligations under this Lease or so long as the period for remedying such default shall not have expiredArticle 32. Tenant covenants shall be entitled, at Tenant’s sole cost and agrees, in the event any proceedings brought for the foreclosure of any first mortgage by a mortgagee who has previously agreed not to disturb Tenant's operation of the Premisesexpense, to attorn to the purchaser upon record any foreclosure sale such non-disturbance agreement promptly after full execution and to recognize delivery of such purchaser as the successor to all of the rights of Library under this Lease. In confirmation of the subordination and attornment of this Lease provided for in this Section, Tenant shall execute promptly any certificate that Library or any successor in interest reasonably may requestagreement.

Appears in 1 contract

Samples: Lease (Illumina Inc)

Subordination and Attornment. This Lease is subject and subordinated to any mortgages, deeds of trust or underlying leases, as well as to any extensions or modifications thereof, now of record or hereafter placed of record. Library Landlord reserves the right to place liens and encumbrances on the Premises superior in lien and effect to this Lease. This Lease, and all rights of Tenant hereunder, shall, at the option of Landlord, be subject and subordinate this Lease at all times to the lien of any first mortgage liens and encumbrances now or hereafter placed imposed by Landlord upon Library's interest in the Premises, the Building Premises or the PropertyReal Estate or any part thereof, provided that Library shall within twenty-one (21) days after the commencement of the Initial Term (or within twenty-one (21) days after the execution of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term)and Tenant agrees to execute, acknowledge, and deliver to Tenant notice of said mortgage Landlord, upon request, any and a written Agreement in form satisfactory all instruments that may he necessary or proper to Tenant whereby any mortgagee of the Building or the Property agrees not to disturb Tenant's operation of the Premises so long as Tenant is not in default of its obligations under subordinate this Lease and all rights herein to any such lien or so long encumbrance as the period for remedying such default shall not have expiredmay be required by Landlord. Tenant covenants and agrees, in In the event any proceedings are brought for the foreclosure of any first mortgage by a mortgagee who has previously agreed not to disturb Tenant's operation of on the Premises, to Tenant will attorn to the purchaser upon any at the foreclosure sale and to recognize such purchaser as the successor to all of the rights of Library Landlord under this Lease. In confirmation The purchaser, by virtue of such foreclosure, shall be deemed to have assumed, as substitute Landlord, the subordination terms and attornment conditions of this Lease provided for until the resale or other disposition of its interest. Such assumption, however, shall not be deemed in acknowledgment by the purchaser of the validity of any then existing claims of Tenant against the prior Landlord. Tenant agrees to execute and deliver such further assurances and other documents, including a new lease upon the same terms and conditions contained herein, confirming the foregoing, as such purchaser may reasonably request. Tenant waives any right of election to terminate this Section, Tenant shall execute promptly Lease because of any certificate that Library or any successor in interest reasonably may requestsuch foreclosure proceedings.

Appears in 1 contract

Samples: Business Property Lease (I Trax Inc)

Subordination and Attornment. This Lessee shall attorn and be bound to any of Lessor’s successors and/or assigns under all terms, covenants and conditions of this Lease for the balance of the remaining Term. Xxxxxx’s interest under this Lease is subject subordinate to all terms of and subordinated to all liens and interests arising under any mortgages, deeds deed of trust or underlying leases, as well as to any extensions or modifications thereof, now of record mortgage existing or hereafter placed of record. Library reserves the right to subject and subordinate this Lease at all times to the lien of any first mortgage now on Xxxxxx’s or hereafter placed upon Library's Lessor’s successors and/or assigns interest in the Premises, the Building . Xxxxxx’s consent shall not be required for an assignment of Xxxxxx’s or the Property, provided that Library shall within twenty-one (21) days after the commencement of the Initial Term (Xxxxxx’s successors and/or assigns interest in this Lease to Lessor’s or within twenty-one (21) days after the execution of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term), deliver to Tenant notice of said mortgage and a written Agreement in form satisfactory to Tenant whereby any mortgagee of the Building or the Property agrees not to disturb Tenant's operation of Xxxxxx’s successors and/or assigns lender as required under such financing. If the Premises is sold as a result of a default under any deed of trust or mortgage, or pursuant to a transfer in lieu of foreclosure, Lessee shall, at such mortgagee’s or purchaser’s sole election, attorn to the mortgagee or purchaser. This Section 52 is self-operative. However, Xxxxxx agrees to execute and deliver, if Xxxxxx, any successor, assign, mortgagee or purchaser should so long as Tenant is not in default of its obligations under request, such further instruments necessary to subordinate this Lease to a lien of any mortgage or so long as deed of trust, to acknowledge the period for remedying such default shall not have expiredconsent to assignment and to affirm the attornment provisions set forth herein. Tenant covenants and agreesNotwithstanding anything to the contrary contained herein, in the event any proceedings brought for the foreclosure of any first mortgage by a mortgagee who has previously agreed not to disturb Tenant's operation of Lessor sells the Premises, or any portion thereof, to attorn a nonaffiliated third-party purchaser, such new third-party Lessor may terminate this Lease as to the purchaser upon any foreclosure sale and to recognize such purchaser as the successor to all sold portion of the rights of Library under this Lease. In confirmation of the subordination Premises at any time, and attornment of this Lease provided for in this Sectionany reason, Tenant shall execute promptly any certificate that Library or any successor in interest reasonably may requestupon thirty (30) days’ prior written notice to Lessee.

Appears in 1 contract

Samples: Farm Lease

Subordination and Attornment. This Lease is subject and subordinated to 23.1 At the election of Landlord or any mortgages, deeds mortgagee or beneficiary with a deed of trust encumbering the Building or the Project or any portion thereof, or any lessor of a ground or underlying leases, as well as lease with respect to the Building or the Project or any extensions or modifications portion thereof, now of record or hereafter placed of record. Library reserves the right to this Lease will be subject and subordinate this Lease at all times to to: (i) all ground leases or underlying leases which may now exist or hereafter be executed affecting the Building and/or the Project; and (ii) the lien of any first mortgage or deed of trust or any other hypothecation for security now or hereafter placed upon Library's interest in the PremisesBuilding, the Building Project or any portion thereof, or Landlord’s interest and estate in any of same, and to any and all advances made on the Propertysecurity thereof and to all renewals, provided that Library modifications, consolidations, replacements and extensions thereof which may now exist or hereafter be executed. Notwithstanding the foregoing, if any mortgagee, trustee or ground lessor shall within twenty-one (21) days after elect to have this Lease prior to the commencement lien of the Initial Term (its mortgage or within twenty-one (21) days after the execution deed of the mortgage if the Building trust or the Property becomes mortgaged after the commencement of the Initial Term)to its ground lease, deliver and shall give written notice thereof to Tenant notice of said mortgage and a written Agreement in form satisfactory at any time prior to Tenant whereby any mortgagee of the Building or the Property agrees not to disturb Tenant's operation transfer of the Premises so long in foreclosure or by deed in lieu of foreclosure of such lien or otherwise (or at any time prior to the termination of the ground lease, as Tenant is not in default of its obligations under the case may be) then, notwithstanding any prior subordination, this Lease shall be deemed prior to such mortgage, deed of trust, or so long as the period for remedying such default shall not have expired. Tenant covenants and agreesground lease, in the event any proceedings brought for the foreclosure of any first mortgage by a mortgagee who has previously agreed not to disturb Tenant's operation of the Premises, to attorn whether this Lease is dated prior or subsequent to the purchaser upon any foreclosure sale and to recognize such purchaser as date of said mortgage, deed of trust or ground lease or the successor to all date of the rights of Library under this Lease. In confirmation of the subordination and attornment of this Lease provided for in this Section, Tenant shall execute promptly any certificate that Library or any successor in interest reasonably may requestrecording thereof.

Appears in 1 contract

Samples: Office Lease Agreement

Subordination and Attornment. This (a) Upon notice by Landlord, Tenant shall subordinate its rights under this Lease is subject and subordinated to any mortgages, deeds of trust or underlying leases, as well as to any extensions or modifications thereof, now of record or hereafter placed of record. Library reserves lease(s) wherein Landlord is the right to subject lessee and subordinate this Lease at all times to the lien of any first mortgage mortgage(s) or deed(s) of trust (collectively, "Instrument"), regardless of ---------- whether such Instrument now exists or is hereafter placed upon Librarycreated, to all advances thereunder, to any interest thereon, and to all modifications, consolidations, renewals, replacements and extensions thereof, provided the lessors, mortgagees or trustees agree to provide Tenant with an agreement of non-disturbance in a form reasonably acceptable to Tenant, agreeing to recognize this Lease and Tenant's interest rights hereunder in the Premisesevent of termination or foreclosure under the Instrument. Tenant agrees to execute any agreement evidencing such subordination and non-disturbance in a form reasonably acceptable to Tenant, at Landlord's request. Any such lessor, mortgagee or trustee may elect to have this Lease prior to its instrument, and in the Building event of such election and upon notification by such lease, mortgagee or trustee to Tenant, this Lease shall be deemed prior to said Instrument, whether this Lease is dated prior or subsequent to said Instrument. Notwithstanding anything to the Propertycontrary contained in this Lease, provided that Library it shall within twenty-one (21) days after be a condition precedent to the commencement performance of the Initial Term (or within twenty-one (21) days after the execution each of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term), deliver to Tenant notice of said mortgage and a written Agreement in form satisfactory to Tenant whereby any mortgagee of the Building or the Property agrees not to disturb Tenant's operation of the Premises so long as Tenant is not in default of its obligations under this Lease or so long as the period for remedying such default shall not have expired. Tenant covenants and agrees(including, in the event any proceedings brought without limitation, Tenant's obligation for the foreclosure payment of any first mortgage by a Rent), that Tenant obtain from each lessor, mortgagee who has previously agreed not to disturb Tenant's operation of or trustee under an Instrument presently encumbering the Premises, an agreement of non-disturbance in a form reasonably acceptable to attorn to the purchaser upon any foreclosure sale and to recognize such purchaser as the successor to all of the rights of Library under this Lease. In confirmation of the subordination and attornment of this Lease provided for in this Section, Tenant shall execute promptly any certificate that Library or any successor in interest reasonably may requestTenant.

Appears in 1 contract

Samples: Lease (Sport Chalet Inc)

Subordination and Attornment. This Lease is subject and subordinated Upon written request or notice by LANDLORD, concurred in by any mortgagee, trustee or security holder of the Developer Parcel or any part thereof which includes the PREMISES, or by any person, firm corporation intending to become a mortgagee, trustee, or security holder, TENANT agrees to subordinate its rights under this lease to the lien or liens of any mortgagesmortgage, deeds deed of trust or underlying leases, as well as other method of financing refinancing now or hereafter existing and to any and all advances to be made thereunder, and to the interest thereon, and all renewals, replacements and extensions or modifications thereof, now provided the mortgagee or trustee named in said mortgage or deed of record trust or hereafter placed security holder under a different method of recordfinancing shall agree recognize this lease of TENANT In the event of foreclosure if TENANT is not in default. Library reserves the right TENANT also agrees that any mortgagee, trustee or security holder may elect to subject and subordinate have this Lease at all times lease prior to the lien of any first its mortgage now deed of trust or hereafter placed upon Library's interest other method of financing, and in the Premisesevent of such election and upon notification by such mortgages, trustee or security holder to TENANT to that effect, this lease shall be deemed prior in lien (but not in respect to the Building priority of entitlement to insurance proceeds or any award in condemnation) to mortgage, deed of trust or other method of financing, whether this lease is dated prior to or subsequent the Property, provided that Library shall within twenty-one (21) days after the commencement of the Initial Term (or within twenty-one (21) days after the execution of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term), deliver to Tenant notice date of said mortgage and a mortgage, deed of trust or other method of financing. TENANT agrees that upon ten (10) calendar days prior written Agreement in form satisfactory to Tenant whereby request from LANDLORD, any mortgagee or any trustee named in such mortgage or deed of the Building trust or the Property agrees not to disturb Tenant's operation security holder under a different method of the Premises so long as Tenant is not in default of its obligations under this Lease or so long as the period financing, it will execute and deliver whatever instruments may be required for remedying such default shall not have expiredpurposes. Tenant covenants and agreesTENANT will, in the event of the sale assignment of LANDLORD'S interest in the Developer Parcel or in the event of any proceedings brought for if the foreclosure of any first mortgage by a mortgagee who has previously agreed not to disturb Tenant's operation of, or in the event of the Premisesexercise of the power of sale under any mortgage covering the Developer Parcel, to attorn to the purchaser upon any foreclosure sale and to recognize such purchaser or mortgagee as the successor to all of the rights of Library LANDLORD under this Lease. In confirmation of the subordination and attornment of this Lease provided for in this Section, Tenant shall execute promptly any certificate that Library or any successor in interest reasonably may requestlease.

Appears in 1 contract

Samples: Active Ankle Systems Inc

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Subordination and Attornment. This Lease is subject and subordinated to any mortgages, deeds of trust or underlying leases, as well as to any extensions or modifications thereof, now of record or hereafter placed of record. Library reserves the right to shall be subject and subordinate this Lease at to any and all times to mortgages or ground leases on the Property, so that the lien of any first such mortgage now or ground lease shall be superior to all rights hereby or hereafter placed upon Library's interest vested in the Premises, the Building or the PropertyTenant, provided that Library such mortgagee or ground lessor shall have entered into a nondisturbance and attornment agreement with Tenant, the form of which shall be furnished by the mortgagee or ground lessor, as the case may be, with such reasonable modifications as Tenant shall request within twenty-one (21) days after a reasonable time period, Tenant hereby agrees that Tenant will recognize as its landlord under this Lease and shall attorn to any person succeeding to the commencement interest of Landlord in respect of the Initial Term (land and the buildings on or within twenty-one (21) days after in which the Premises is contained, upon any foreclosure of any mortgage upon such land or buildings or upon the execution of any deed in lieu of such foreclosure in respect of such mortgage. If requested, Tenant shall execute and deliver an instrument or instruments confirming its attornment as provided herein; provided, however, that no successorininterest shall be bound by any payment of rent for more than one (1) month in advance, or any amendment or modification of this lease made without the mortgage if the Building or the Property becomes mortgaged after the commencement express written consent of the Initial Term), deliver to Tenant notice of said mortgage and a written Agreement in form satisfactory to Tenant whereby any mortgagee of the Building or the Property agrees not to disturb Tenant's operation of the Premises so long as Tenant is not in default of its obligations under this Lease or so long as the period for remedying such default shall not have expiredmortgage. Tenant covenants and agrees, in the event any proceedings brought Any action for the foreclosure of any first an existing mortgage on the Property shall not terminate this Lease or cause this Lease to be terminable by a mortgagee who has previously agreed not to disturb Tenant's operation Tenant by reason of the Premises, to attorn to the purchaser upon termination of any foreclosure sale such ground lease unless Tenant is specifically named and to recognize joined in any such purchaser as the successor to all action and unless a judgment is obtained therein against Tenant resulting in a termination of the rights of Library under this Lease. In confirmation of the subordination and attornment of this Lease provided for in this Section, Tenant shall execute promptly any certificate that Library or any successor in interest reasonably may request.

Appears in 1 contract

Samples: Lease (Vericel Corp)

Subordination and Attornment. This Lease is subject and subordinated to any mortgages, deeds of trust or underlying leases, as well as to any extensions or modifications thereof, now of record or hereafter placed of record. Library reserves the right to subject and subordinate this Lease at all times to the lien of any first mortgage now or hereafter placed upon Library's interest in the Premises, the Building or the Property, provided that Library shall within twenty-one (21) days after the commencement of the Initial Term (or within twenty-one (21) days after a. Following the execution of this Lease by the mortgage parties, Landlord shall obtain for Tenant from the current holder of a Superior Interest (as defined below)("Current Lender") a non-disturbance agreement providing that if the Building or the Property becomes mortgaged after the commencement of the Initial Term), deliver to Tenant notice of said mortgage and a written Agreement in form satisfactory to Tenant whereby any mortgagee of the Building or the Property agrees not to disturb Tenant's operation of the Premises so long as Tenant is not in default of its obligations under this Lease or so long as the period for remedying such default shall beyond any applicable grace period, Current Lender will recognize this Lease and Tenant's rights hereunder and will not have expired. Tenant covenants and agrees, in the event any proceedings brought for the foreclosure of any first mortgage by a mortgagee who has previously agreed not to disturb Tenant's possession hereunder, and if this Lease is by operation of law terminated in a foreclosure, that a new lease will be entered into on the Premisessame terms as this Lease for the remaining term hereof, to attorn and including such further matters and conditions to the purchaser upon foregoing as may be customarily and commercially reasonably required by Current Lender. Any and all charges imposed by Current Lender for issuing the aforementioned non-disturbance agreement shall be borne by Tenant, which charges are Five Hundred Dollars ($500.00) if Tenant signs Current Lender's standard form without modification and One Thousand Dollars ($1,000.00), plus Current Lender's attorneys' fees, if Tenant requests revisions to the standard form. As used herein and elsewhere in this Lease, an "Encumbrance" is any foreclosure sale mortgage, deed of trust, ground lease, underlying lease or like encumbrance affecting any part of the Real Property or any interest of Landlord therein, and the holder of an Encumbrance that is superior to recognize such purchaser Tenant's leasehold interest is referred to in this Lease as the successor to all holder of the rights of Library under this Lease. In confirmation of the subordination and attornment of this Lease provided for in this Section, Tenant shall execute promptly any certificate that Library or any successor in interest reasonably may requesta "Superior Interest."

Appears in 1 contract

Samples: Office Lease (Kitara Media Corp.)

Subordination and Attornment. This Lease is subject and subordinated to any mortgages, deeds of trust or underlying leases, as well as to any extensions or modifications thereof, now of record or hereafter placed of record. Library reserves the right to shall be subject and subordinate this Lease at all times to the lien of any first mortgage underlying ground leases, mortgages or deeds of trust now or hereafter placed by Landlord upon Library's interest in the PremisesCenter, and to any and all advances to be made thereunder, and to all renewals, replacements and extensions thereof. This subordination shall be self-operative, and no further agreement or act on the Building part of Tenant shall be required to effectuate such subordination. In confirmation thereof, Tenant shall execute such further assurances as may be requested. Any mortgagee or the Property, provided trustee under any deed of trust may elect that Library shall within twenty-one (21) days after the commencement of the Initial Term (or within twenty-one (21) days after the execution of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term), deliver to Tenant notice of said mortgage and a written Agreement in form satisfactory to Tenant whereby any mortgagee of the Building or the Property agrees not to disturb Tenant's operation of the Premises so long as Tenant is not in default of its obligations under this Lease shall have priority over its mortgage or so long as deed of trust, and upon notification of such election by such mortgages or trustee to Tenant, this Lease shall be deemed to have priority over such mortgage or deed of trust whether this Lease is dated prior to or subsequent to the period for remedying date of such default shall not have expiredmortgage or deed of trust. Tenant covenants and agrees, in the event If any proceedings are brought for the foreclosure of any first mortgage by a mortgagee who has previously agreed not to disturb Tenant's operation portion of the PremisesCenter of which the Premises are a part, to or if the power of sale under a mortgage or deed of trust is exercised, then Tenant, upon request, shall attorn to the purchaser upon any such foreclosure or sale and to recognize such purchaser as the successor to all of the rights of Library Landlord under this Lease. In confirmation Tenant hereby appoints Landlord to be the attorney-in-fact of Tenant (which appointment is irrevocable and coupled with an interest) to execute and deliver any such instrument or instruments for and on behalf of and in the subordination and attornment name of this Lease provided for in this Section, Tenant shall execute promptly any certificate that Library or any successor in interest reasonably may requestTenant.

Appears in 1 contract

Samples: White Marsh Business Center Agreement of Lease (Imtek Office Solutions Inc)

Subordination and Attornment. This Lease is subject subordinate to all Superior Leases and subordinated Mortgages (defined in Section 24.4), and Tenant will attorn to any mortgages, deeds of trust each person or underlying leases, as well as entity that succeeds to any extensions or modifications thereof, now of record or hereafter placed of record. Library reserves the right to subject and subordinate this Lease at all times to the lien of any first mortgage now or hereafter placed upon LibraryLandlord's interest in the Premises, the Building or the Propertytinder this Lease, provided that Library shall within twenty-one (21) days after the commencement of the Initial Term (such person or within twenty-one (21) days after the execution of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term), deliver to Tenant notice of said mortgage and a written Agreement entity agrees in form satisfactory to Tenant whereby any mortgagee of the Building or the Property agrees writing not to disturb Tenant's operation of the Premises so rights under this Lease as long as Tenant is not in default. This Section is self-operative, but if requested to confirm a subordination and/or attornment or non-disturbance, Tenant will execute subordination and/or attornment and/or non- disturbance agreements furnished by Landlord or Landlord's lessor or mortgagee under any of the Superior Leases and Mortgages (a "Landlord's Mortgagee") within twenty (20) days after request and provided that such agreements: materially substantively conform to typical institutional forms of agreements then in use and do not result in a material adverse change in any of the material terms of this Lease, and provided that any such subordination agreements shall provide that the lender shall agree to concurrently deliver to Tenant any notices of Landlord's default delivered to Landlord and to accept from Tenant a cure of its obligations such defaults (if and to the extent that such defaults are curable by Tenant) within the cure periods for such defaults granted to Landlord under such loans; or materially substantively conform to one or more of the forms attached as Exhibit "J" hereto. However, if Landlord or Landlord's Mortgagee elects in writing, this Lease or so long as will be superior to the period for remedying such default shall not have expired. Tenant covenants Superior Leases and agreesMortgages specified, in the event any proceedings brought for the foreclosure of any first mortgage by a mortgagee who has previously agreed not to disturb Tenant's operation regardless of the Premisesdate of recording, to attorn to the purchaser upon any foreclosure sale and to recognize such purchaser as the successor to all of the rights of Library under Tenant will execute an agreement confirming this Lease. In confirmation of the subordination and attornment of this Lease provided for in this Section, Tenant shall execute promptly any certificate that Library or any successor in interest reasonably may election on request.

Appears in 1 contract

Samples: Lease (Cabletron Systems Inc)

Subordination and Attornment. This Unless otherwise expressly agreed by the Landlord, this Lease is subject and subordinated to any mortgages, deeds the rights of trust or underlying leases, as well as to any extensions or modifications thereof, now of record or hereafter placed of record. Library reserves the right to Tenant hereunder shall be subject and subordinate to all existing or future Mortgages and to all renewals, modifications, consolidations, replacements and extensions thereof. Whenever requested by the Landlord or a Mortgagee, the Tenant shall enter into an agreement with the Mortgagee whereby the Tenant postpones or subordinates this Lease at all times to the lien interest of any first mortgage now stipulated Mortgagee, and agrees that if such Mortgagee becomes a mortgagee in possession or hereafter placed realizes on its security, it shall attorn to such Mortgagee as a tenant upon Library's interest in all the Premises, the Building or the Propertyterms of this Lease, provided that Library such Mortgagee shall within twenty-one enter into an agreement with the Tenant which shall provide that (21i) days after such Mortgagee shall not disturb the commencement Tenant and will permit the Tenant 10 remain in possession of the Initial Term (or within twenty-one (21) days after Leased Premises pursuant to the execution Terms of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term), deliver to Tenant notice of said mortgage and a written Agreement in form satisfactory to Tenant whereby any mortgagee of the Building or the Property agrees not to disturb Tenant's operation of the Premises this Lease so long as the Tenant is not in default hereunder and has failed to remedy such default, and (ii) the Mortgagee shall not be liable for any acts, omissions or defaults of its obligations the Landlord under this the Lease or so long as at law or for any obligations required to be observed or performed by the period for remedying such default shall not have expired. Tenant covenants and agrees, in Landlord prior to the event any proceedings brought for date that the foreclosure of any first mortgage by Mortgagor becomes a mortgagee who has previously agreed not to disturb Tenant's operation of the Premises, to attorn to the purchaser upon any foreclosure sale and to recognize such purchaser as the successor to all of the rights of Library under this Lease. In confirmation of the subordination and attornment of this Lease provided for in this Section, Tenant shall execute promptly any certificate that Library possession or any successor in interest reasonably may requestrealizes on its security.

Appears in 1 contract

Samples: Employment Agreement (Futurelink Distribution Corp)

Subordination and Attornment. This It is a condition of this Lease is subject and subordinated to any mortgages, deeds the Tenant's rights granted hereunder that this Lease and all of trust or underlying leases, as well as to any extensions or modifications thereof, now of record or hereafter placed of record. Library reserves the right to rights hereunder are and shall at all times be subject and subordinate to any and all Mortgages from time to time in existence against the Lands. Upon request, the Tenant shall subordinate the Lease and all of its rights hereunder in such form as the Landlord reasonably requires to any and all Mortgages, and to all advances made or hereafter to be made upon the security thereof and, if requested, the Tenant shall attorn to the holder thereof. Any subordination will provide that the rights of the Tenant under this Lease at all times to the lien of any first mortgage now or hereafter placed upon Library's interest in the Premises, the Building or the Property, provided that Library shall within twenty-one (21) days after the commencement of the Initial Term (or within twenty-one (21) days after the execution of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term), deliver to Tenant notice of said mortgage and a written Agreement in form satisfactory to Tenant whereby any mortgagee of the Building or the Property agrees not to disturb Tenant's operation of the Premises be interfered with so long as the Tenant is not in default hereunder and shall be conditional upon the delivery to the Tenant of its obligations under the non- disturbance covenant. The form of such subordination shall be as required by the Landlord or any Mortgagee. Notwithstanding the foregoing, the Landlord shall obtain, at no cost to the Tenant, from each Mortgagee affecting the Lands and/or the Expansion Lands from time to time, a covenant of non-disturbance in which the Mortgagee agrees not to disturb the Tenant's possession of the Leased Premises and to be bound by the terms of this Lease or so long Lease, as the period for remedying such default shall not have expired. Tenant covenants and agreeslandlord, in the event any proceedings brought for the foreclosure of any first mortgage by that such Mortgagee becomes a mortgagee who has previously agreed not to disturb Tenant's operation in possession, exercises its power of sale remedies or forecloses, provided that the Premises, to attorn to the purchaser upon any foreclosure sale and to recognize such purchaser as the successor to all of the rights of Library under this Lease. In confirmation of the subordination and attornment of Tenant maintains this Lease provided for in this Section, Tenant shall execute promptly any certificate that Library or any successor in interest reasonably may requestgood standing.

Appears in 1 contract

Samples: Basic Lease Terms (Certicom Corp)

Subordination and Attornment. This Tenant's interest under this Lease is subject and subordinated to any mortgages, deeds of trust or underlying leases, as well as to any extensions or modifications thereof, now of record or hereafter placed of record. Library reserves the right to subject and shall be subordinate this Lease at all times to the lien of any lender holding a first or second lien secured by the Property, whether now existing or hereafter created. Tenant covenants and agrees that it will promptly execute without further consideration any and all instruments desired by Landlord or Landlord's mortgagee subordinating this Lease in the manner requested by Landlord to all ground or underlying leases and to the lien of any mortgage and/or any deed of trust or other encumbrance which may now or hereafter placed upon Library's interest in affect the Premises, the Building together with all renewals, modifications, consolidations, replacements or the Property, extensions thereof; provided that Library any lienor or encumbrancer relying on the subordination reflected in this Lease or in such additional agreements will covenant with Tenant that this Lease shall within twenty-one (21) days after remain in full force and effect, and Tenant shall not be disturbed in the commencement event of the Initial Term (sale, foreclose or within twenty-one (21) days after the execution of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term), deliver to Tenant notice of said mortgage and a written Agreement in form satisfactory to Tenant whereby any mortgagee of the Building or the Property agrees not to disturb Tenant's operation of the Premises other actions so long as Tenant is not in default of its obligations under this Lease or so long as the period for remedying such default shall not have expired. Tenant covenants hereunder; and agrees, provided further that in the event any proceedings brought for the foreclosure provision of this Lease conflicts with any provision of any first mortgage document executed by a mortgagee who has previously agreed not to disturb Tenant's operation Landlord in connection with any loan, the provisions of such loan documents shall supersede the Premises, provisions of this Lease. Tenant agrees to attorn to the purchaser upon successor in interest of Landlord following any foreclosure sale transfer of such interest either voluntarily or by operation of law and to recognize such purchaser successor as the successor to all of the rights of Library Landlord under this Lease. In confirmation of the subordination and attornment of However, if Landlord or any such mortgagee so elects, this Lease provided for shall be deemed prior in this Sectionlien to any mortgage, deed of trust or other encumbrance upon or including the Premises regardless of date of recording and Tenant shall will execute promptly any certificate that Library or any successor a statement in interest reasonably may writing to such effect at Landlord's request.

Appears in 1 contract

Samples: Assignment and Extension of Lease (Caldera Systems Inc)

Subordination and Attornment. This Lease is subject and subordinated to any mortgages, deeds of trust or underlying leases, as well as to any extensions or modifications thereof, now of record or hereafter placed of record20. Library Landlord reserves the right to place liens and encumbrances on the Premises superior in lien and effect to this Lease. This Lease and all rights of Tenant hereunder shall at the option of Landlord, be subject and subordinate this Lease at all times to the lien of any first mortgage liens and encumbrances now or hereafter placed imposed by Landlord upon Library's interest in the Premises, Premises or the Building or the Propertyany part thereof, provided that Library shall within twenty-one (21) days after the commencement of the Initial Term (or within twenty-one (21) days after the execution of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term)and Tenant agrees to execute, acknowledge, and deliver to Tenant notice of said mortgage Landlord, upon request any and a written Agreement in form satisfactory all instruments that may be necessary or proper to Tenant whereby any mortgagee of the Building or the Property agrees not to disturb Tenant's operation of the Premises so long as Tenant is not in default of its obligations under subordinate this Lease and all rights herein to any such lien or so long encumbrance as the period for remedying such default shall not have expiredmay be required by Landlord. Tenant covenants and agrees, in In the event any proceedings are brought for the foreclosure of any first mortgage by a mortgagee who has previously agreed not to disturb Tenant's operation of on the Premises, to Tenant will attorn to the purchaser upon any at the foreclosure sale and to recognize such purchaser as the successor to all of the rights of Library Landlord under this Lease. In confirmation The purchase, by virtue of such foreclosure, shall be deemed to have assumed as substitute Landlord, the subordination terms and attornment conditions of this Lease provided for in until the resale or other disposition of its interest. Such assumption, however, shall not be deemed an acknowledgment by the purchaser of the validity of any then existing claims of Tenant against the prior Landlord. Tenant agrees to execute and deliver such further assurances and other documents, including a new lease upon the same terms and conditions contained herein, confirming the foregoing, as such purchaser may reasonably request. Tenant waives any right or election to terminate this Section, Tenant shall execute promptly Lease because of any certificate that Library or any successor in interest reasonably may requestsuch foreclosure proceedings.

Appears in 1 contract

Samples: Office Building (Worldport Communications Inc)

Subordination and Attornment. 20. This Lease is subject Lease, and subordinated to any mortgagesall rights of Tenant hereunder, deeds of trust or underlying leases, as well as to any extensions or modifications thereof, now of record or hereafter placed of record. Library reserves the right to shall be subject and subordinate this Lease at all times to the lien of any first mortgage liens and encumbrances now or hereafter placed imposed by Landlord upon Library's interest in the Premises, the Building Premises or the PropertyReal Estate or any part thereof. This provision shall be self-operative and no further instrument of subordination shall be required in order to effect it. Nevertheless, provided that Library shall Xxxxxx agrees to execute, acknowledge, and deliver to Landlord, within twenty-one ten (2110) days after Xxxxxxxx’s request, any and all instruments requested by Landlord to confirm the commencement subordination of the Initial Term (or within twenty-one (21) days after the execution of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term), deliver to Tenant notice of said mortgage and a written Agreement in form satisfactory to Tenant whereby any mortgagee of the Building or the Property agrees not to disturb Tenant's operation of the Premises so long as Tenant is not in default of its obligations under this Lease and all rights herein to any such lien or so long encumbrance. If Xxxxxx fails or refuses to execute and deliver such document within such ten (10) day period, Landlord shall be entitled to execute and deliver such documents for and on behalf of Xxxxxx as the period for remedying such default shall not have expiredattorney-in-fact. Tenant covenants and agrees, in In the event any proceedings are brought for the foreclosure of any first mortgage by a mortgagee who has previously agreed not to disturb Tenant's operation or deed of trust on the Premises, to Tenant will attorn to the purchaser upon any at the foreclosure sale and to recognize such purchaser as the successor to all of the rights of Library Landlord under this Lease. In confirmation Such purchaser will not be bound by (a) any payment of monthly Base Rent or additional Rent for more than one (1) month in advance, (b) any claims or setoffs on account of any defaults made by the subordination prior landlord. Xxxxxx agrees to execute and attornment deliver such further assurances and other documents, including a new lease upon the same terms and conditions contained herein, confirming the foregoing, as such purchaser may reasonably request. Tenant waives any right of election to terminate this Lease provided for in this Section, Tenant shall execute promptly because of any certificate that Library or any successor in interest reasonably may requestsuch foreclosure proceedings.

Appears in 1 contract

Samples: Business Property Lease (CleanCore Solutions, Inc.)

Subordination and Attornment. This Lease is subject and subordinated to any mortgages, deeds of trust or underlying leases, as well as to any extensions or modifications thereof, now of record or hereafter placed of record. Library Landlord reserves the right to place ---------------------------- liens and encumbrances on the Leased Premises superior in lien and effect to this Lease. This Lease, and all rights of Tenant hereunder shall be subject and subordinate this Lease at all times to the lien of any first mortgage liens and encumbrances now or hereafter placed imposed by Landlord upon Library's interest in the Premises, the Building Leased Premises or the PropertyShopping Center or any part thereof; provided, provided however, that Library shall within twenty-one (21) days after the commencement of the Initial Term (or within twenty-one (21) days after the execution of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term), deliver to Tenant notice of said mortgage and a written Agreement in form satisfactory to Tenant whereby any mortgagee of the Building or the Property agrees not to disturb Tenant's operation of the Premises so long as Tenant is not in default under the terms and conditions of its obligations under this Lease, Tenant's possession of the Leased Premises shall not be disturbed. Tenant agrees to execute, acknowledge and deliver to Landlord, upon demand, any and all instruments required by Landlord or Landlord's lender(s) to subordinate this Lease and all rights herein to any such lien or so long as the period for remedying such default shall not have expiredencumbrance. Tenant covenants and agrees, in In the event any proceedings brought for the of a foreclosure of any first mortgage by on the Shopping Center or a mortgagee who has previously agreed not to disturb Tenant's operation of deed in lieu thereof, Tenant shall attorn to, and become the PremisesTenant of, to attorn to the purchaser upon any at the foreclosure sale or the grantee of such deed in lieu thereof, and to shall recognize such purchaser party as the successor to all of the rights of Library Landlord under this Lease. In confirmation of the subordination and attornment of Tenant waives any right to terminate this Lease provided for because of any such foreclosure proceedings or deed in this Section, Tenant shall execute promptly any certificate that Library or any successor in interest reasonably may requestlieu thereof.

Appears in 1 contract

Samples: Retail Lease (Colorado Business Bankshares Inc)

Subordination and Attornment. This Lease is subject and subordinated shall be subordinate to any mortgagespresent or future mortgage, deeds deed of trust trust, mortgage or underlying leasesother security interest covering the Property (the “mortgage”); provided, as well as to any extensions or modifications thereofhowever, now that at the option of record or hereafter placed of record. Library reserves the right to subject and subordinate mortgagee, this Lease at all times can be made superior to the lien of any first mortgage now or hereafter placed upon Library's interest in the Premisesmortgage. As a condition to such subordination, the Building or the Property, provided that Library shall within twenty-one (21) days after the commencement of the Initial Term (or within twenty-one (21) days after the execution holder of the mortgage if the Building or the Property becomes mortgaged after the commencement trustee of the Initial Term)deed of trust shall agree that the rights of Lessee under this Lease shall not be divested or in any way affected by a foreclosure or other default proceeding under the mortgage, deliver to Tenant notice of said mortgage and a written Agreement in form satisfactory to Tenant whereby any mortgagee of the Building or the Property agrees not to disturb Tenant's operation of the Premises obligations secured thereby, so long as Tenant Lessee is not in default under the terms of this Lease, and Lessee agrees that this Lease shall remain in full force and effect notwithstanding any such foreclosure or default proceeding. Lessee further agrees that it will attorn to the mortgagee, trustee or beneficiary under such mortgage or deed of trust, to their successors or assigns and to any purchaser or its assignee at a foreclosure sale if a commercially reasonably subordination agreement is executed between Lessee and such mortgagee. Lessee will, upon request by Lessor, execute and deliver to Lessor, or to any other person designated by Lessor, any instrument or instruments required to give effect to the provisions of this Section 10.3. Lessee agrees that upon the request of either Lessor or any mortgagee, Lessee shall send to such mortgagee copies of all notices sent to Lessor, such copies to be forwarded to such mortgagee as and when such notices are sent to Lessor and at the mailing address from time to time provided to Lessee by either Lessor or such mortgagee. In addition, Lessee agrees that it may not exercise any of its obligations remedies on account of a default by Lessor under this Lease or so long as the period for remedying unless and until such mortgagee shall have received written notice of such default shall not have expired. Tenant covenants from Lessee and agrees, in the event any proceedings brought for the foreclosure a period of any first mortgage by a mortgagee who has previously agreed not to disturb Tenant's operation of the Premises, to attorn to the purchaser upon any foreclosure sale and to recognize such purchaser as the successor to all of the rights of Library under this Lease. In confirmation of the subordination and attornment of this Lease provided for in this Section, Tenant shall execute promptly any certificate that Library or any successor in interest reasonably may request.thirty

Appears in 1 contract

Samples: Lease Agreement

Subordination and Attornment. This Lease is and all rights of the Tenant hereunder are subject and subordinated subordinate to any mortgagesall underlying leases and charges or mortgages now or hereafter existing (including charges and mortgages by way of debenture, note, bond, deeds of trust or underlying leasesand mortgage and all instruments supplemental thereto), as well as to any extensions or modifications thereof, now of record or hereafter placed of record. Library reserves the right to subject and subordinate this Lease at all times to the lien of any first mortgage which may now or hereafter placed affect the Property or any part thereof and to all renewals, modifications, consolidations, replacements and extensions thereof provided the lessor, chargee, mortgagee or trustee agrees to accept this Lease if not in default; and in recognition of the foregoing the Tenant agrees that it will, whenever requested, attorn to such lessor, chargee, mortgagee or trustee as a tenant upon Library's interest in all the Premisesterms of this Lease. The Tenant agrees to execute promptly whenever requested by the Landlord or by the holder of any such lease, charge or mortgage an instrument of subordination or attornment, as the Building or the Propertycase may be, as may be required of it; provided that Library shall within twenty-one (21) days after such lessor, chargee, mortgagee or trustee concurrently delivers to the commencement Tenant an enforceable agreement, on terms reasonably satisfactory to the Tenant, providing that notwithstanding such subordination or attornment the Tenant will be entitled to quiet possession and enjoyment of the Initial Term (or within twenty-one (21) days after Leased Premises in accordance with the execution terms of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term), deliver to Tenant notice of said mortgage and a written Agreement in form satisfactory to Tenant whereby any mortgagee of the Building or the Property agrees not to disturb Tenant's operation of the Premises so this Lease as long as Tenant it is not in default of its obligations under this Lease or so long as the period for remedying such default shall not have expired. Tenant covenants and agrees, in the event any proceedings brought for the foreclosure of any first mortgage by a mortgagee who has previously agreed not to disturb Tenant's operation of the Premises, to attorn to the purchaser upon any foreclosure sale and to recognize such purchaser as the successor to all of the rights of Library under this Lease. In confirmation of the subordination and attornment of this Lease provided for in this Section, Tenant shall execute promptly any certificate that Library or any successor in interest reasonably may requesthereunder.

Appears in 1 contract

Samples: Agreement (Landstar Inc)

Subordination and Attornment. This (a) Tenant agrees, at Landlord's discretion: (i) that, except as hereinafter provided, this Lease is subject is, and subordinated to any mortgagesall of Tenant's rights hereunder are and shall always be, deeds of trust or underlying leases, as well as to any extensions or modifications thereof, now of record or hereafter placed of record. Library reserves the right to subject and subordinate to any Mortgage now existing or hereafter given by Landlord and to all advances made or to be made thereunder and to the interest thereon, and all renewals, replacements, modifications, consolidations, or extensions thereof; and (ii) that if any Landlord's Mortgagee or if the purchaser at any foreclosure sale or at any sale under a power of sale or assent to decree contained in any such Mortgage shall at its sole option so request, Tenant will attorn to, and recognize such Mortgagee or purchaser, as the case may be, as Landlord under this Lease at all times to for the lien of any first mortgage now or hereafter placed upon Library's interest in the Premises, the Building or the Property, provided that Library shall within twenty-one (21) days after the commencement balance then remaining of the Initial Term of this Lease, subject to all terms of this Lease; and (iii) that the aforesaid provisions shall be self-operative, and no further instrument or within twenty-one document shall be necessary unless required by any such Mortgagee or purchaser. Tenant's obligation set forth in this subsection (21a) days after the execution of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term), deliver to Tenant notice of said mortgage and shall be conditioned upon Landlord's Mortgagee agreeing in writing that neither it nor any purchaser at a written Agreement in form satisfactory to Tenant whereby any mortgagee of the Building or the Property agrees not to foreclosure sale shall disturb Tenant's operation quiet possession of the Premises so long as Tenant is not in default of its obligations under this Lease or so long as the period for remedying such default shall not have expired. Tenant covenants (beyond all applicable notice and agreescure periods, in the event any proceedings brought for the foreclosure of any first mortgage by a mortgagee who has previously agreed not to disturb Tenant's operation of the Premises, to attorn to the purchaser upon any foreclosure sale and to recognize such purchaser as the successor to all of the rights of Library under this Lease. In confirmation of the subordination and attornment of this Lease provided for in this Section, Tenant shall execute promptly any certificate that Library or any successor in interest reasonably may requestif any).

Appears in 1 contract

Samples: Lease Agreement (Vaccinogen Inc)

Subordination and Attornment. This Landlord shall have the right to subordinate this Lease is subject and subordinated to any mortgagesfuture ground Lease, deeds deed of trust or underlying leasesmortgage encumbering the Demised Premises, as well as to and advances made on the security thereof and any renewals, modifications, consolidations, replacements or extensions or modifications thereof, now of record whenever made or hereafter placed of recordrecorded. Library reserves the Landlord's right to obtain such a subordination is subject to Landlord's providing Tenant with a written Subordination, Non-disturbance and subordinate Attornment Agreement from the ground lessor, beneficiary or mortgagee wherein Tenant's right to peaceable possession of the Demised Premises during the Lease Term shall not be disturbed if Tenant pays the Rent and performs all of Tenant's obligations under this Lease at all times and is not otherwise in default, in which case Tenant shall attorn to the transferee of or successor to Landlord's interest in the Demised Premises and recognize the transferee or successor as Landlord under this Lease. If any ground lessor, beneficiary or mortgagee elects to have this Lease superior to the lien of any first its ground lease, deed of trust or mortgage now and gives Tenant written notice thereof, this Lease shall be deemed superior to the ground lease, deed of trust or hereafter placed upon Library's interest in mortgage whether this Lease is dated prior or subsequent to the Premisesdate of the ground lease, the Building deed of trust or mortgage or the Property, provided that Library shall within twenty-one (21) days after the commencement date of the Initial Term (or within twenty-one (21) days after the execution of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term), deliver to Tenant notice of said mortgage and a written Agreement in form satisfactory to Tenant whereby any mortgagee of the Building or the Property agrees not to disturb recording thereof. Tenant's operation of the Premises so long as Tenant is not in default of its obligations under this Lease or so long as the period for remedying such default shall not have expired. Tenant covenants and agrees, in the event any proceedings brought for the foreclosure of any first mortgage by a mortgagee who has previously agreed not to disturb Tenant's operation of the Premises, to attorn to the purchaser upon any foreclosure sale and to recognize such purchaser as the successor to all of the rights of Library under this Lease. In confirmation of , unless specifically modified at the subordination and attornment of time this Lease provided for in this Sectionis executed, Tenant shall execute promptly are subordinated to any certificate that Library existing ground lease, deed of trust or any successor in interest reasonably may requestmortgage encumbering the Demised Premises.

Appears in 1 contract

Samples: Lease Agreement (Speed Release Lock Co)

Subordination and Attornment. This Lease is subject and subordinated the estate, interest and rights hereby created are subordinate to any mortgages, deeds of trust or underlying leases, as well as to any extensions or modifications thereof, now of record or hereafter placed of record. Library reserves the right to subject and subordinate this Lease at all times to the lien of any first mortgage now or hereafter placed upon Library's interest in the PremisesLot, the Building or the Propertyany estate or interest therein, provided that Library shall within twenty-one (21) days after the commencement including, without limitation, any mortgage on any leasehold estate, and to all renewals, modifications, consolidations, replacements and extensions of the Initial Term (or within twenty-one (21) days after the execution of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term), deliver to Tenant notice of said mortgage and a written Agreement in form satisfactory to Tenant whereby same as well as any mortgagee of the Building or the Property agrees not to disturb Tenant's operation of the Premises so long as Tenant is not in default of its obligations under this Lease or so long as the period for remedying such default shall not have expiredsubstitutions therefor. Tenant covenants and agrees, agrees that in the event any proceedings brought person, firm, corporation or other entity acquires the right to possession of the Lot and the Building including any mortgagee or holder of any estate or interest having priority over this Lease, Tenant shall, if requested by such person, firm, corporation or other entity, attorn to and become the tenant of such person, firm, corporation or other entity, upon the same terms and conditions as are set forth herein for the foreclosure balance of the Lease Term. Notwithstanding the foregoing, any first mortgagee may, at any time, subordinate its mortgage by a mortgagee who has previously agreed not to disturb this Lease, without Tenant's operation consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such mortgage without regard to their respective dates of execution and delivery, and in that event, such mortgagee shall have the same rights with respect to this Lease as though it had been executed prior to the execution and delivery of the Premisesmortgage. Tenant, if requested by Landlord, shall execute any such instruments in recordable form as may be reasonably required by Landlord in order to attorn to the purchaser upon any foreclosure sale and to recognize such purchaser as the successor to all of the rights of Library under this Lease. In confirmation of confirm or effect the subordination and attornment of this Lease provided for and the attornment of Tenant to future landlords in accordance with the terms of this Section, Tenant shall execute promptly any certificate that Library or any successor in interest reasonably may request.

Appears in 1 contract

Samples: Agreement of Lease (Worldgate Communications Inc)

Subordination and Attornment. This Lease Landlord represents and warrants that there is subject and subordinated to any mortgages, no existing deeds of trust or underlying leases, as well as to any extensions or modifications thereof, now of record or hereafter placed of record. Library reserves mortgage encumbering the Demised Premises Landlord shall have the right to subject and subordinate this Lease at to any future ground Lease, deed of trust or mortgage encumbering the Demised Premises, and advances made on the security thereof and any renewals, modifications, consolidations, replacements or extensions thereof, whenever made or recorded. Landlord's right to obtain such a subordination is subject to Landlord's providing Tenant with a written Subordination, Nondisturbance and Attornment Agreement from the ground lessor, beneficiary or mortgagee (in form reasonably acceptable to Tenant) wherein Tenant's fight to peaceable possession of the Demised Premises during the Lease Term shall not be disturbed if Tenant pays the Rent and performs all times of Tenant's obligations under this Lease and is not otherwise in default, in which case Tenant shall attorn to the transferee of or successor to Landlord's interest in the Demised Premises and recognize the transferee or successor as Landlord under this Lease. If any ground lessor, beneficiary or mortgagee elects to have this Lease superior to the lien of any first its ground lease, deed of trust or mortgage now and gives Tenant written notice thereof this Lease shall be deemed superior to the ground lease, deed of trust or hereafter placed upon Library's interest in mortgage whether this Lease is dated prior or subsequent the Premisesdate of the ground lease, the Building deed of trust or mortgage or the Property, provided that Library shall within twenty-one (21) days after the commencement date of the Initial Term (or within twenty-one (21) days after the execution of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term), deliver to Tenant notice of said mortgage and a written Agreement in form satisfactory to Tenant whereby any mortgagee of the Building or the Property agrees not to disturb Tenant's operation of the Premises so long as Tenant is not in default of its obligations under this Lease or so long as the period for remedying such default shall not have expired. Tenant covenants and agrees, in the event any proceedings brought for the foreclosure of any first mortgage by a mortgagee who has previously agreed not to disturb Tenant's operation of the Premises, to attorn to the purchaser upon any foreclosure sale and to recognize such purchaser as the successor to all of the rights of Library under this Lease. In confirmation of the subordination and attornment of this Lease provided for in this Section, Tenant shall execute promptly any certificate that Library or any successor in interest reasonably may requestrecording thereof.

Appears in 1 contract

Samples: Commercial Lease Agreement (Performance Printing Corp)

Subordination and Attornment. This Lease is and all rights of Tenant hereunder are and shall be subject and subordinated subordinate to any mortgagesmortgage, deeds deed to secure debt, deed of trust or underlying leases, as well as to any extensions or modifications thereof, other instrument in the nature thereof (herein called “Security Deed”) which may now of record or hereafter placed affect Landlord’s fee title to the Premises and/or Building. Tenant shall within fifteen (15) days of record. Library reserves request execute, acknowledge and deliver to Landlord, to Landlord’s designee and/or the right holder of any such Security Deed, the following: (i) such certificate or certificates that may be requested by Landlord or such holder to subject and subordinate evidence the subordination of this Lease at all times to such Security Deeds; (ii) such certificate or certificates that may be requested by Landlord or such holder to make this Lease superior to the lien of any first mortgage now or hereafter placed upon Library's interest in the Premises, the Building or the Propertysuch Security Deeds; and (iii) such attornment agreements as may be reasonably requested by successors to Landlord hereunder, provided such agreement sets forth that Library shall within twenty-one (21) days after the commencement of the Initial Term (or within twenty-one (21) days after the execution of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term), deliver to Tenant notice of said mortgage and a written Agreement in form satisfactory to Tenant whereby any mortgagee of the Building or the Property agrees not to disturb Tenant's operation of the Premises so as long as Tenant is not in default hereunder beyond applicable notice and cure periods, Tenant’s possession of its obligations the Premises under this Lease or so long as the period for remedying such default shall not have expiredbe disturbed. Tenant covenants and agrees, in If the event any proceedings brought for the foreclosure holder of any first mortgage by a mortgagee who has previously agreed not such Security Deed shall hereafter succeed to disturb Tenant's operation of the Premises, to attorn to the purchaser upon any foreclosure sale and to recognize such purchaser as the successor to all of the rights of Library Landlord under this Lease. In confirmation , whether through possession or foreclosure action or delivery of a new lease, Tenant shall, at the subordination request of such holder, attorn to and attornment of recognize such successor as Tenant’s landlord under this Lease provided for in this Section, Tenant and shall promptly execute promptly and deliver any certificate instrument that Library or any successor in interest reasonably may requestbe necessary to evidence such attornment.

Appears in 1 contract

Samples: Crown Pointe Office Lease (Learning Tree International Inc)

Subordination and Attornment. This Tenant agrees that this Lease is subject and subordinated to any mortgages, deeds of trust or underlying leases, as well as to any extensions or modifications thereof, now of record or hereafter placed of record. Library reserves the right to shall be subject and subordinate to any mortgage, security deed, loan deed or similar instrument now on said Premises and to all advances already made, or which may be hereafter made, on account of said instruments to the full extent of all debts and charges secured thereby and to any renewals or extensions of all or any part thereof and to any such instruments which any owner of said Premises may hereafter at any time elect to place on said Premises (collectively, a "Security Instrument"), and Tenant agrees upon request to hereafter attorn to the holder of such Security Instrument as the Landlord under this Lease at all times and execute any paper or papers which the counsel for Landlord may deem necessary to accomplish that end and, if Tenant fails to do so, Tenant shall be in default of its non-monetary obligations under this Lease. Provided, however, that the lien subordination of any first mortgage now or hereafter placed upon Librarythis Lease and Tenant's interest in hereunder to any Security Instrument shall be contingent upon Landlord, Tenant and the Premises, the Building or the Property, provided that Library shall within twenty-one (21) days after the commencement holder of the Initial Term (or within twenty-one (21) days after the execution security interest under such instrument entering into an agreement reasonably acceptable to each of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term), deliver to Tenant notice of said mortgage and a written Agreement in form satisfactory to Tenant them whereby any mortgagee of the Building or the Property such holder agrees not to disturb that Tenant's operation right of quiet enjoyment of the Premises will not be disturbed in the event of a foreclosure of such holder's interest under such instrument, so long as Tenant is does not default in default of its obligations under this Lease or so long as the period for remedying Lease, and fail to cure such default shall not have expired. Tenant covenants and agrees, within the time provided in the event any proceedings brought this Lease for the foreclosure cure of any first mortgage by a mortgagee who has previously agreed not to disturb Tenant's operation of the Premisesdefaults, to attorn to the purchaser upon any foreclosure sale and to recognize such purchaser as the successor to all of the rights of Library under this Lease. In confirmation of the subordination and attornment of this Lease provided for in this Section, Tenant shall execute promptly any certificate that Library or any successor in interest reasonably may requestif any.

Appears in 1 contract

Samples: Idealab

Subordination and Attornment. This Lease is subject and subordinated shall be subordinate to any mortgagesdeed of trust, deeds of trust mortgage, or underlying leasesother security instrument (a "Mortgage"), as well as to any extensions or modifications thereof, now of record or hereafter placed of record. Library reserves the right to subject and subordinate this Lease at all times to the lien of any first mortgage that now or hereafter placed upon Librarycovers all or any part of the Premises (the mortgagee under any Mortgage is referred to herein as "Landlord's Mortgagee"), provided that Landlord's Mortgagee agrees not to disturb Tenant's rights under this lease while Tenant is not of default of its obligations hereunder. Subject to the foregoing; Tenant shall attorn to any party succeeding to Landlord's interest in the Premises, the Building whether by purchase, foreclosure, deed in lieu of foreclosure, power of sale, or the Propertyotherwise, upon such party's request, and shall execute such agreements confirming such attornment as such party may reasonably request provided that Library shall within twenty-one (21) days after in such agreement the commencement of the Initial Term (or within twenty-one (21) days after the execution of the mortgage if the Building or the Property becomes mortgaged after the commencement of the Initial Term), deliver to Tenant notice of said mortgage and a written Agreement in form satisfactory to Tenant whereby any mortgagee of the Building or the Property succeeding party agrees not to disturb Tenant's operation right to possession of the Premises so long as Tenant is not in default of its obligations under this Lease or so long as the period for remedying such default shall not have expiredhereunder. Tenant covenants and agrees, in In the event any proceedings brought for the foreclosure of any first mortgage by a mortgagee who has previously agreed not to disturb such request and upon Tenant's operation attornment as aforesaid, Tenant will automatically become the tenant of the Premises, to attorn to the purchaser upon any foreclosure sale and to recognize such purchaser as the successor to all Landlord's interest without change in the terms of the rights provisions of Library under this Lease. In confirmation ; provided, however, that such successor to Landlord's interest shall not be bound by (a) any payment of the subordination and attornment Rent for more than one month in advance (except prepayments for security deposits, if any), (b) any amendments or modifications of this Lease provided for in this Sectionmade without the prior written consent of Landlord's Mortgagee if Tenant was advised on the interest of same, or (c) any credits, offsets, defenses or claims which Tenant shall execute promptly any certificate that Library or any successor in interest reasonably may requesthave against Landlord.

Appears in 1 contract

Samples: Office Building Lease Agreement (Idx Systems Corp)

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