Common use of Subordination and Attornment Clause in Contracts

Subordination and Attornment. This Lease shall be subject and subordinated at all times to the terms of each and every ground or underlying lease which now exists or may hereafter be executed affecting the Premises under which Landlord shall claim, and to the liens of each and every mortgage and deed of trust in any amount or amounts whatsoever now or hereafter existing encumbering the Premises, Buildings or the Property, and to all modifications, renewals and replacements thereto without the necessity of having further instruments executed by Tenant to effect such subordination. Tenant, upon demand, shall further evidence its subordination by executing a subordination and attornment agreement in form and substance mutually acceptable to Tenant and Landlord and its mortgagee or ground lessor, which subordination and attornment agreement must provide that so long as no default or event which with the passing of time or giving of notice would constitute a default exists under this Lease, the peaceable possession of Tenant in and to the Premises, and continued Permitted Use thereof, for the Term shall not be disturbed in the event of the foreclosure of the subject mortgage or termination of the subject ground or underlying lease affecting the Premises. If Landlord’s interest in the Buildings or Property is acquired by any ground lessor, mortgagee, or purchaser at a foreclosure sale or transfer in lieu thereof, Tenant shall attorn to the transferee of or successor to Landlord’s interest in the Lease, Premises, Buildings or Property and recognize such transferee or successor as Landlord under this Lease. Notwithstanding the foregoing, any mortgagee under any mortgage shall have the right at any time to subordinate any such mortgage to this Lease on such terms and subject to such conditions as the mortgagee in its discretion may consider appropriate.

Appears in 16 contracts

Samples: Lease Agreement (Power REIT), Lease Agreement (Millennium Investment & Acquisition Co Inc.), Lease Agreement (Power REIT)

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Subordination and Attornment. This Lease shall be subject Without the necessity of any additional document being executed by Tenant for the purpose of effecting a subordination, and subordinated at all times to the terms election of each and every Landlord or any mortgagee or beneficiary with a mortgage or deed of trust encumbering the Property or any portion thereof, or any lessor of a ground or underlying lease with respect to the Property or any portion thereof (any such mortgagee, beneficiary or lessor, a “Holder”), this Lease will be subject and subordinate at all times to: (i) all ground leases or underlying leases which may now exists exist or may hereafter be executed affecting the Premises under which Landlord shall claimProperty; (ii) the lien of any mortgage, and to the liens of each and every mortgage and deed or deed of trust which may now exist or hereafter be executed affecting the Property or any portion thereof; (iii) all past and future advances made under any such mortgages, deeds or deeds of trust; and (iv) all renewals, modifications, replacements and extensions of any such ground leases, master leases, mortgages, deed and deeds of trust (collectively, “Security Documents”) which may now exist or hereafter be executed which constitute a lien upon or affect the Property or any portion thereof, or Landlord’s interest and estate in any amount or amounts whatsoever now or hereafter existing encumbering of said items, subject to the Premisesterms of Section 12.3, Buildings or below; provided, however, as a condition to Tenant’s agreement hereunder to subordinate Tenant’s interest in this Lease to any future Security Document not effective as of the PropertyEffective Date of this Agreement, and to all modificationsLandlord shall obtain from the applicable Lender a subordination, renewals and replacements thereto without the necessity of having further instruments executed by Tenant to effect such subordination. Tenant, upon demand, shall further evidence its subordination by executing a subordination non-disturbance and attornment agreement in recordable form and substance mutually that is reasonably acceptable to Tenant and Landlord and its mortgagee or ground lessor(any such agreement, which subordination and attornment agreement must provide that so long as no default or event which with the passing of time or giving of notice would constitute a default exists under this Lease, the peaceable possession of Tenant in and to the Premises, and continued Permitted Use thereof, for the Term shall not be disturbed in the event of the foreclosure of the subject mortgage or termination of the subject ground or underlying lease affecting the Premises. If Landlord’s interest in the Buildings or Property is acquired by any ground lessor, mortgagee, or purchaser at a foreclosure sale or transfer in lieu thereof, Tenant shall attorn to the transferee of or successor to Landlord’s interest in the Lease, Premises, Buildings or Property and recognize such transferee or successor as Landlord under this Leasean “SNDA”). Notwithstanding the foregoing, any mortgagee under any mortgage shall have Landlord reserves the right at any time to subordinate any such mortgage Security Documents to this Lease. In the event of any termination or transfer of Landlord’s estate or interest in the Property, the Building or the Tenant Space by reason of any termination or foreclosure of any such Security Documents (and notwithstanding any subordination of such Security Document to this Lease on that may or may not have occurred), at the election of Landlord’s successor in interest, Tenant agrees to attorn to and become the tenant of such terms successor, in which event Tenant’s right to possession of the Property will not be disturbed as long as Tenant is not in default under this Lease. Tenant hereby waives any right under any Applicable Law or otherwise to terminate or otherwise adversely affect this Lease and subject to the obligations of Tenant hereunder in the event of any termination or transfer of Landlord’s estate or interest in the Property, the Building or the Tenant Space by reason of any termination or foreclosure of any such conditions as the mortgagee in its discretion may consider appropriateSecurity Documents.

Appears in 3 contracts

Samples: Duane Avenue (Equinix Inc), Lease Agreement (Equinix Inc), Turn Key Datacenter Lease (Equinix Inc)

Subordination and Attornment. This Lease shall be subject and subordinated at all times subordinate to the terms any existing mortgage or mortgages or to any future mortgage or mortgages, or to any renewal, replacement or extension of each and every ground any existing or underlying lease which now exists future mortgage or mortgages that are currently or may hereafter be executed affecting in the Premises under which Landlord shall claim, and to the liens of each and every mortgage and deed of trust in any amount or amounts whatsoever now or hereafter existing encumbering future become a lien on the Premises, Buildings provided, however, that the mortgagee of any such existing or future mortgage agrees not to terminate this Lease, or disturb Tenant’s possession of the PropertyPremises, or do anything which will adversely affect the rights of Tenant hereunder, so long as Tenant pays the rent, and observes and performs all of the other obligations, provisions, covenants and conditions required of Tenant by this Lease, and Txxxxx agrees to all modifications, renewals and replacements thereto without the necessity of having further execute whatever instruments executed by Tenant may be required to effect such subordination. TenantFor the purposes of this Section, upon demanda mortgage shall be defined as any financing document representing an interest in the Premises, including, but not limited to, a Mortgage, Deed of Trust, or Land Contract. Further, Txxxxx acknowledges and agrees that, if Lxxxxx shall further evidence its subordination by executing a subordination and attornment agreement in form and substance mutually acceptable succeed to Tenant and the interest of Landlord and its mortgagee or ground lessor, which subordination and attornment agreement must provide that so long as no default or event which with the passing of time or giving of notice would constitute a default exists under this Lease, the peaceable possession of Tenant in shall be bound to Lender as Landlord, from and after Lxxxxx’s succession to the Premises, and continued Permitted Use thereof, for the Term shall not be disturbed in the event interest of the foreclosure of the subject mortgage or termination of the subject ground or underlying lease affecting the Premises. If Landlord’s interest in the Buildings or Property is acquired by any ground lessor, mortgagee, or purchaser at a foreclosure sale or transfer in lieu thereof, Tenant shall attorn to the transferee of or successor to Landlord’s interest in Landlord under the Lease, Premises, Buildings or Property and recognize such transferee or successor as Landlord under this Lease. Notwithstanding the foregoing, any mortgagee under any mortgage Lxxxxx shall have the right at same remedies against Tenant for the breach of any time agreement contained in the Lease as are available thereunder to subordinate any such mortgage Landlord. Tenant hereby agrees to assign over and pay to Lender all rents due and owing under this Lease on such terms and subject subsequent to such conditions as Lxxxxx’s succession to the mortgagee in its discretion may consider appropriateinterests of Landlord.

Appears in 3 contracts

Samples: Divall Insured Income Properties 2 Limited Partnership, Divall Insured Income Properties 2 Limited Partnership, Divall Insured Income Properties 2 Limited Partnership

Subordination and Attornment. This Lease and all of Tenant's rights hereunder shall be subject and subordinated at all times subordinate to the terms of each and every any ground lease or underlying lease which lease, and the lien of any mortgage, deed of trust, or any other security instrument now exists or may hereafter be executed affecting or encumbering the Premises under which Landlord shall claimBuilding, or any part thereof or interest therein, and to any and all advances made on the liens of each and every mortgage and deed of trust in any amount security thereof or amounts whatsoever now or hereafter existing encumbering the Premises, Buildings or the PropertyLandlord's interest therein, and to all renewals, modifications, renewals consolidations, replacements and replacements thereto without extensions thereof (an "encumbrance", the necessity holder of having further instruments executed by Tenant the beneficial interest thereunder being referred to effect such subordinationas an "encumbrancer"). TenantAn encumbrancer may, upon demandhowever, shall further evidence subordinate its subordination by executing a subordination and attornment agreement in form and substance mutually acceptable encumbrance to Tenant and Landlord and its mortgagee or ground lessor, which subordination and attornment agreement must provide that so long as no default or event which with the passing of time or giving of notice would constitute a default exists under this Lease, the peaceable possession and if an encumbrancer so elects by notice to Tenant, this Lease shall be deemed prior to such encumbrance. If any encumbrance to which this Lease is subordinate is foreclosed, or a deed in lieu of Tenant in and foreclosure is given to the Premises, and continued Permitted Use thereof, for the Term shall not be disturbed in the event of the foreclosure of the subject mortgage or termination of the subject ground or underlying lease affecting the Premises. If Landlord’s interest in the Buildings or Property is acquired by any ground lessor, mortgagee, or purchaser at a foreclosure sale or transfer in lieu thereofencumbrancer thereunder, Tenant shall attorn to the transferee purchaser at the foreclosure sale or to the grantee under the deed in lieu of foreclosure; and if any encumbrance consisting of a ground lease or successor underlying lease to Landlord’s interest which this Lease is subordinate is terminated, Tenant shall attorn to the lessor thereof. Tenant shall execute, acknowledge and deliver in the Lease, Premises, Buildings form reasonably requested by Landlord or Property and recognize such transferee or successor as Landlord under this Lease. Notwithstanding the foregoingany encumbrancer, any mortgagee under any mortgage shall have documents required to evidence or effectuate the right at any time subordination hereunder, or to subordinate any such mortgage to make this Lease on prior to the lien of any encumbrance, or to evidence such terms and subject to such conditions as the mortgagee in its discretion may consider appropriateattornment.

Appears in 2 contracts

Samples: Office Lease (Critical Path Inc), Office Lease (Critical Path Inc)

Subordination and Attornment. This Subject to Tenant entering into a Subordination, Non-Disturbance and Attornment Agreement (“SNDA”) as described below, this Lease shall be subject and subordinated at all times to the terms of each and every ground or underlying lease which now exists or may hereafter be executed affecting the Premises under which Landlord shall claim, and to the liens of each and every mortgage and deed of trust in any amount or amounts whatsoever now or hereafter existing encumbering the Premises, Buildings or the Property, and to all modifications, renewals and replacements thereto without the necessity of having further instruments executed by Tenant to effect such subordination. Tenant, upon demand, shall further evidence its subordination by executing a subordination and attornment agreement in form and substance mutually acceptable to Tenant and Landlord and its mortgagee or ground lessor, which subordination and attornment agreement must provide that so long as no default or event which with the passing of time or giving of notice would constitute a default exists under this Lease, the peaceable possession of Tenant in and to the Premises, and continued Permitted Use thereof, for the Term shall not be disturbed in the event of the foreclosure of the subject mortgage or termination of the subject ground or underlying lease affecting the Premisesthereto. If Landlord’s interest in the Buildings or Property Premises is acquired by any ground lessor, mortgagee, or purchaser at a foreclosure sale or transfer in lieu thereof, Tenant shall attorn to the transferee of or successor to Landlord’s interest in the Lease, Premises, Buildings or Property Premises and recognize such transferee or successor as Landlord under this LeaseLease in accordance with the applicable SNDA. Notwithstanding the foregoing, any mortgagee under any mortgage shall have the right at any time to subordinate any such mortgage to this Lease on such terms and subject to such conditions as the mortgagee in its discretion may consider appropriate. Landlord represents and warrants to Tenant that, as of the date of this Lease, it is the fee simple title holder of the Building and no mortgages or ground leases encumber the same. After the date of this Lease, any subordination of this Lease to a mortgage or any ground lease shall be conditioned on Tenant obtaining a SNDA from each and every mortgagee and ground lessor, such SNDA to be in form and content reasonably acceptable to Tenant and the applicable mortgagee and ground lessor.

Appears in 2 contracts

Samples: Lease Agreement, Lease Agreement (Pricesmart Inc)

Subordination and Attornment. This Lease shall be subject and subordinated at all times to the terms of each and every ground or underlying lease which now exists or may hereafter be executed affecting the Premises under which Landlord shall claim, and to the liens of each and every mortgage and deed of trust in any amount or amounts whatsoever now or hereafter existing encumbering the Premises, Buildings Building or the Property, and to all modifications, renewals and replacements thereto without the necessity of having further instruments executed by Tenant to effect such subordination. Tenant, upon demand, shall further evidence its subordination by executing a subordination and attornment agreement in form and substance mutually acceptable to Tenant and Landlord and its mortgagee or ground lessor, which subordination and attornment agreement must provide that so long as no default or event which with the passing of time or giving of notice would constitute a default exists under this Lease, the peaceable possession of Tenant in and to the Premises, and continued Permitted Use thereof, for the Term shall not be disturbed in the event of the foreclosure of the subject mortgage or termination of the subject ground or underlying lease affecting the Premises. If Landlord’s interest in the Buildings Building or Property is acquired by any ground lessor, mortgagee, or purchaser at a foreclosure sale or transfer in lieu thereof, Tenant shall attorn to the transferee of or successor to Landlord’s interest in the Lease, Premises, Buildings Building or Property and recognize such transferee or successor as Landlord under this Lease. Notwithstanding the foregoing, any mortgagee under any mortgage shall have the right at any time to subordinate any such mortgage to this Lease on such terms and subject to such conditions as the mortgagee in its discretion may consider appropriate.

Appears in 2 contracts

Samples: Lease Agreement (Power REIT), Lease Agreement (Power REIT)

Subordination and Attornment. This Lease shall be subject and subordinated at all times to the terms of each and every ground or underlying lease which now exists or may hereafter be executed affecting the Premises under which Landlord shall claim, and to the liens of each and every mortgage and deed of trust in any amount or amounts whatsoever now or hereafter existing encumbering the Premises, Buildings Building or the PropertyPark, and to all modifications, renewals and replacements thereto without the necessity of having further instruments executed by Tenant to effect such subordination. Tenant, upon demand, shall further evidence its subordination by executing a subordination and attornment agreement in form and substance mutually acceptable to Tenant and Landlord and its mortgagee or ground lessor, which subordination and attornment agreement must provide may provide, at the option of such mortgagee or ground lessor, that so long as no default or event which with the passing of time or giving of notice would constitute a default exists under this Lease, the peaceable possession of Tenant in and to the Premises, and continued Permitted Use thereof, Premises for the Term shall not be disturbed in the event of the foreclosure of the subject mortgage or termination of the subject ground or underlying lease affecting the Premises. If Landlord’s interest in the Buildings or Property Building and/or Park is acquired by any ground lessor, mortgagee, or purchaser at a foreclosure sale or transfer in lieu thereof, Tenant shall attorn to the transferee of or successor to Landlord’s interest in the Lease, Premises, Buildings Building or Property Park and recognize such transferee or successor as Landlord under this Lease. Notwithstanding the foregoing, any mortgagee under any mortgage shall have the right at any time to subordinate any such mortgage to this Lease on such terms and subject to such conditions as the mortgagee in its discretion may consider appropriate.

Appears in 2 contracts

Samples: Lease Agreement (Website Pros Inc), Commencement Agreement (Website Pros Inc)

Subordination and Attornment. (a) This Lease shall be and the rights of Tenant hereunder are subject and subordinated at subordinate in all times respects to the terms of each all mortgages and every ground leases which may now or underlying lease which now exists or may hereafter be executed affecting placed on or affect all or any part of the real property of which the Premises under which Landlord shall claimare a part and/or Landlord's interest or estate in such real property or ground leases, and to the liens of each and every mortgage and deed of trust in advance made and/or hereafter to be made under any amount or amounts whatsoever now or hereafter existing encumbering the Premises, Buildings or the Propertysuch mortgages, and to all renewals, modifications, renewals consolidations, replacements and replacements thereto without extensions thereof and all substitutions therefor. Notwithstanding anything to the necessity of having further instruments executed by Tenant contrary in this Article IX contained, as to effect such subordination. Tenantany future mortgages or ground leases, upon demand, shall further evidence its subordination by executing a the herein provided subordination and attornment agreement shall be effective only if the mortgagee or ground lessor therein, as the case may be, agrees, by a written instrument in recordable form and substance mutually otherwise in a form reasonably acceptable to Tenant and Landlord and its such mortgagee or ground lessor, which subordination that, as long as Tenant shall not be in terminable default of the obligations on its part to be kept and performed under the terms of this Lease, this Lease will not be affected and Tenant's possession hereunder will not be disturbed by any default under and/or foreclosure or termination of such mortgage or ground lease. Tenant acknowledges and agrees that the form of subordination, non-disturbance and attornment agreement must provide that so long attached hereto as no default or event which with the passing of time or giving of notice would constitute a default exists under this Lease, the peaceable possession of Exhibit D is acceptable to Tenant in for future mortgages and to the Premises, and continued Permitted Use thereof, for the Term shall not be disturbed in the event of the foreclosure of the subject mortgage or termination of the subject ground or underlying lease affecting the Premises. If Landlord’s interest in the Buildings or Property is acquired by any ground lessor, mortgagee, or purchaser at a foreclosure sale or transfer in lieu thereof, Tenant shall attorn to the transferee of or successor to Landlord’s interest in the Lease, Premises, Buildings or Property and recognize such transferee or successor as Landlord under this Lease. Notwithstanding the foregoing, any mortgagee under any mortgage shall have the right at any time to subordinate any such mortgage to this Lease on such terms and subject to such conditions as the mortgagee in its discretion may consider appropriateleases.

Appears in 2 contracts

Samples: Disturbance and Attornment Agreement (Lincoln National Corp), Disturbance and Attornment Agreement (Lincoln National Corp)

Subordination and Attornment. This Lease Sublease shall be subject and subordinated subordinate at all times to the lien and to the terms of the Master Lease and each and every ground or underlying lease which now exists or may hereafter be executed affecting the Premises Building under which Landlord shall claim, and to the liens of each and every mortgage and deed of trust in any amount or amounts whatsoever now or hereafter existing encumbering the Premises, Buildings or the PropertyBuilding, and to all modifications, renewals and replacements thereto without the necessity of having further instruments executed by Tenant to effect such subordination. Tenant, upon demand, shall further evidence its subordination by executing a subordination and attornment agreement in form and substance mutually acceptable to Tenant Landlord, Tenant, and Landlord and its any mortgagee or ground lessor, which including, without limitation, Master Landlord. Landlord agrees to request from Master Landlord as reasonably requested by Tenant from time to time a subordination and attornment non-disturbance agreement must provide from Master Landlord's mortgagee; provided, however, that so long as no default or event which with the passing of time or giving of notice would constitute a default exists under this Lease, the peaceable possession of Tenant in and to the Premises, and continued Permitted Use thereof, for the Term shall Landlord will not be disturbed in liable for any failure of Master Landlord or Master Landlord's mortgagee to deliver the event of the foreclosure of the subject mortgage or termination of the subject ground or underlying lease affecting the Premisessame. If Landlord’s 's interest in the Buildings or Property Building is acquired by any ground lessor, mortgagee, or purchaser at a foreclosure sale or transfer in lieu thereof, Tenant shall attorn to the transferee of or successor to Landlord’s 's interest in the LeaseSublease, Premises, Buildings or Property Building and recognize such transferee or successor as Landlord under this LeaseSublease. Notwithstanding the foregoing, any mortgagee under any mortgage shall have the right at any time to subordinate any such mortgage to this Lease Sublease on such terms and subject to such conditions as the mortgagee in its discretion may consider appropriate.

Appears in 1 contract

Samples: Sublease Agreement (A21 Inc)

Subordination and Attornment. This Lease shall be subject Without the necessity of any additional document being executed by Tenant for the purpose of effecting a subordination, and subordinated at all times to the terms election of each and every Landlord or any mortgagee or beneficiary with a mortgage or deed of trust encumbering the Property or any portion thereof, or any lessor of a ground or underlying lease with respect to the Property or any portion thereof (any such mortgagee, beneficiary or lessor, a “Holder”), this Lease will be subject and subordinate at all times to: (i) all ground leases or underlying leases which may now exists exist or may hereafter be executed affecting the Premises under which Landlord shall claimProperty; (ii) the lien of any mortgage, and to the liens of each and every mortgage and deed or deed of trust in any amount or amounts whatsoever which may now exist or hereafter existing encumbering be executed affecting the PremisesProperty or any portion thereof; (iii) all past and future advances made under any such mortgages, Buildings deeds or the Propertydeeds of trust; and (iv) all renewals, and to all modifications, renewals replacements and replacements thereto without the necessity extensions of having further instruments any such ground leases, master leases, mortgages, deed and deeds of trust (collectively, “Security Documents”) which may now exist or hereafter be executed by Tenant to effect such subordination. Tenant, upon demand, shall further evidence its subordination by executing a subordination and attornment agreement in form and substance mutually acceptable to Tenant and Landlord and its mortgagee or ground lessor, which subordination and attornment agreement must provide that so long as no default or event which with the passing of time or giving of notice would constitute a default exists under this Lease, lien upon or affect the peaceable possession of Tenant in and to the Premises, and continued Permitted Use Property or any portion thereof, for the Term shall not be disturbed in the event of the foreclosure of the subject mortgage or termination of the subject ground or underlying lease affecting the Premises. If Landlord’s interest and estate in the Buildings or Property is acquired by any ground lessor, mortgagee, or purchaser at a foreclosure sale or transfer in lieu thereof, Tenant shall attorn to the transferee of or successor to Landlord’s interest in the Lease, Premises, Buildings or Property and recognize such transferee or successor as Landlord under this Leasesaid items. Notwithstanding the foregoing, any mortgagee under any mortgage shall have Landlord reserves the right at any time to subordinate any such mortgage Security Documents to this Lease. In the event of any termination or transfer of Landlord’s estate or interest in the Property, the Building, the Datacenter or the Tenant Space by reason of any termination or foreclosure of any such Security Documents (and notwithstanding any subordination of such Security Document to this Lease on that may or may not have occurred), at the election of Landlord’s successor in interest, Tenant agrees to attorn to and become the tenant of such terms successor, in which event Tenant’s right to possession of the Property will not be disturbed as long as Tenant is not in default under this Lease. Tenant hereby waives any right under any Applicable Law or otherwise to terminate or otherwise adversely affect this Lease and subject the obligations of Tenant hereunder in the event of any termination or transfer of Landlord’s estate or interest in the Property, the Building, the Datacenter or the Tenant Space by reason of any termination or foreclosure of any such Security Documents. Tenant covenants and agrees to execute and deliver, within ten (10) business days of receipt thereof, and in the form reasonably required by Landlord or in the standard form required by any Holder, any additional documents evidencing the priority or subordination of this Lease and Tenant’s agreement to attorn with respect to any such Security Document; provided, however, any such agreement subordinating this Lease to such conditions as lease, mortgage or deed of trust shall contain a nondisturbance provision in the mortgagee in its discretion may consider appropriatestandard form of such Holder.

Appears in 1 contract

Samples: Turn Key Datacenter Lease (Danger Inc)

Subordination and Attornment. This Lease shall be subject and subordinated at all times to the terms of each and every ground or underlying lease which now exists or may hereafter be executed affecting the Premises under which Landlord Landlord, its successors, or assigns shall claim, and to the liens of each and every mortgage and deed of trust in any amount or amounts whatsoever now or hereafter existing encumbering the Premises, Buildings Premises or the PropertyHuntington Oaks, and to all modifications, renewals and replacements thereto without the necessity of having further instruments executed by Tenant to effect such subordination. Tenant, upon demand, shall further evidence its subordination by executing a subordination and attornment agreement in form and substance mutually acceptable to Tenant and Landlord and its mortgagee or ground lessor, which subordination and attornment agreement must provide may provide, at the option of such mortgagee or ground lessor, that so long as no default or event which with the passing of time or giving of notice would constitute a default exists under this Lease, the peaceable possession of Tenant in and to the Premises, and continued Permitted Use thereof, Premises for the Term shall not be disturbed in the event of the foreclosure of the subject mortgage or termination of the subject ground or underlying lease affecting the Premises. If Landlord’s interest in the Buildings Huntington Oaks, or Property that of its successors or assigns, is acquired by any ground lessor, mortgagee, or purchaser at a foreclosure sale or transfer in lieu thereof, Tenant shall attorn to the transferee of or successor to Landlord’s interest in the Lease, Premises, Buildings Premises or Property Huntington Oaks and recognize such transferee or successor as Landlord under this Lease. Notwithstanding the foregoing, any mortgagee under any mortgage shall have the right at any time to subordinate any such mortgage to this Lease on such terms and subject to such conditions as the mortgagee in its discretion may consider appropriate.

Appears in 1 contract

Samples: Sample Lease)

Subordination and Attornment. This Lease Lease, and the rights of Tenant hereunder, are and shall be subject and subordinated at all times subordinate to the terms interests of each (i) all present and every future ground leases and master leases of all or underlying any part of the Project or Property; (ii) present and future mortgages and deeds of trust encumbering all or any part of the Project or Property; (iii) any past and future advances made under any such mortgages or deeds of trust; and (iv) all renewals, modifications, replacements and extensions of any such ground leases, master leases, mortgages and deeds of trust; provided, however, that any lessor under any such ground lease which now exists or may hereafter be executed affecting the Premises master lease or any mortgagee or beneficiary under which Landlord shall claim, and to the liens of each and every any such mortgage and or deed of trust in any amount or amounts whatsoever now or hereafter existing encumbering shall have the Premisesright to elect, Buildings or the Property, and by written notice given to all modifications, renewals and replacements thereto without the necessity of having further instruments executed by Tenant to effect such subordination. Tenant, upon demandto have this Lease made superior in whole or in part to any such ground lease, master lease, mortgage or deed of trust. Within twenty (20) days after written demand therefor, Tenant shall further evidence its subordination execute, acknowledge and deliver any instruments reasonably requested by executing a subordination and attornment agreement in form and substance mutually acceptable to Tenant and Landlord and its or any such lessor, mortgagee or ground lessor, which subordination and attornment agreement must provide that beneficiary to effectuate the purposes of this Article 25 so long as no default or event which with the passing of time or giving of notice would constitute a default exists under this Lease, the peaceable same provides that Tenant's possession of Tenant in and to the Premises, and continued Permitted Use thereof, for the Term Premises shall not be disturbed in the event of a foreclosure or deed-in-lieu of foreclosure unless Tenant is in default under the terms and provisions of this Lease. In the event of any foreclosure sale, transfer in lieu of the subject mortgage foreclosure or termination of the subject ground or underlying any lease affecting the Premises. If Landlord’s interest in the Buildings or Property which Landlord is acquired by any ground lessor, mortgagee, or purchaser at a foreclosure sale or transfer in lieu thereoflessee, Tenant shall attorn to the purchaser, transferee of or successor to Landlord’s interest in lessor as the Leasecase may be, Premises, Buildings or Property and recognize such transferee or successor that party as Landlord under this Lease. Notwithstanding the foregoing, any mortgagee under any mortgage shall have the right at any time to subordinate any such mortgage to this Lease on such terms and subject to such conditions as the mortgagee in its discretion may consider appropriate.

Appears in 1 contract

Samples: 16 Lease Agreement (Vital Images Inc)

Subordination and Attornment. This Lease shall be subject Without the necessity of any additional document being executed by Tenant for the purpose of effecting a subordination, and subordinated at all times to the terms election of each and every Landlord or any mortgagee or beneficiary with a mortgage or deed of trust encumbering the Property or any portion thereof, or any lessor of a ground or underlying lease with respect to the Property or any portion thereof (any such mortgagee, beneficiary or lessor, a “Holder”), this Lease will be subject and subordinate at all times to: (i) all ground leases or underlying leases which may now exists exist or may hereafter be executed affecting the Premises under which Landlord shall claimProperty; (ii) the lien of any mortgage, and to the liens of each and every mortgage and deed or deed of trust in any amount or amounts whatsoever which may now exist or hereafter existing encumbering be executed affecting the PremisesProperty or any portion thereof; (iii) all past and future advances made under any such mortgages, Buildings deeds or the Propertydeeds of trust; and (iv) all renewals, and to all modifications, renewals replacements and replacements thereto without the necessity extensions of having further instruments any such ground leases, master leases, mortgages, deed and deeds of trust (collectively, “Security Documents”) which may now exist or hereafter be executed by Tenant to effect such subordination. Tenant, upon demand, shall further evidence its subordination by executing a subordination and attornment agreement in form and substance mutually acceptable to Tenant and Landlord and its mortgagee or ground lessor, which subordination and attornment agreement must provide that so long as no default or event which with the passing of time or giving of notice would constitute a default exists under this Lease, lien upon or affect the peaceable possession of Tenant in and to the Premises, and continued Permitted Use Property or any portion thereof, for the Term shall not be disturbed in the event of the foreclosure of the subject mortgage or termination of the subject ground or underlying lease affecting the Premises. If Landlord’s interest and estate in the Buildings or Property is acquired by any ground lessor, mortgagee, or purchaser at a foreclosure sale or transfer in lieu thereof, Tenant shall attorn to the transferee of or successor to Landlord’s interest in the Lease, Premises, Buildings or Property and recognize such transferee or successor as Landlord under this Leasesaid items. Notwithstanding the foregoing, any mortgagee under any mortgage shall have Landlord reserves the right at any time to subordinate any such mortgage Security Documents to this Lease. In the event of any termination or transfer of Landlord’s estate or interest in the Property, the Building or the Tenant Space by reason of any termination or foreclosure of any such Security Documents (and notwithstanding any subordination of such Security Document to this Lease on that may or may not have occurred), at the election of Landlord’s successor in interest, Tenant agrees to attorn to and become the tenant of such terms successor, in which event Tenant’s right to possession of the Property will not be disturbed as long as Tenant is not in default under this Lease. Tenant hereby waives any right under any Applicable Law or otherwise to terminate or otherwise adversely affect this Lease and subject the obligations of Tenant hereunder in the event of any termination or transfer of Landlord’s estate or interest in the Property, the Building or the Tenant Space by reason of any termination or foreclosure of any such Security Documents. Tenant covenants and agrees to execute and deliver, within ten (10) days of receipt thereof, and in the form reasonably required by Landlord or in the standard form required by any Holder, any additional documents evidencing the priority or subordination of this Lease and Tenant’s agreement to attorn with respect to any such Security Document; provided, however, any such agreement subordinating this Lease to such conditions as lease, mortgage or deed of trust shall contain a nondisturbance provision in the mortgagee in its discretion may consider appropriatestandard form of such Holder.

Appears in 1 contract

Samples: Master Datacenter Lease (Telx Group, Inc.)

Subordination and Attornment. This Tenant agrees: (a) that, except as hereinafter provided, this Lease is, and all of Tenant's rights hereunder are and shall be always be, subject and subordinated at all times subordinate to the terms of each and every ground any mortgages or underlying lease which security instruments (collectively called "Mortgage") that now exists exist, or may hereafter be executed affecting placed upon the Premises under which Landlord shall claim, and to the liens of each and every mortgage and deed of trust in area or any amount or amounts whatsoever now or hereafter existing encumbering the Premises, Buildings or the Propertypart thereof, and to all modifications, renewals and replacements thereto without the necessity of having further instruments executed by Tenant advances made or to effect such subordination. Tenant, upon demand, shall further evidence its subordination by executing a subordination and attornment agreement in form and substance mutually acceptable to Tenant and Landlord and its mortgagee or ground lessor, which subordination and attornment agreement must provide that so long as no default or event which with the passing of time or giving of notice would constitute a default exists under this Lease, the peaceable possession of Tenant in be made thereunder and to the Premisesinterest thereon, and continued Permitted Use all renewals, replacements, modifications, consolidations, or extensions thereof, for now or at any future time, (b) that if the Term shall not be disturbed in holder of any such Mortgage ("Mortgagee") or if the event of the foreclosure of the subject mortgage or termination of the subject ground or underlying lease affecting the Premises. If Landlord’s interest in the Buildings or Property is acquired by any ground lessor, mortgagee, or purchaser at a any foreclosure sale or transfer at any sale under a power of sale contained in lieu thereofany Mortgage shall at its sole option so request, Tenant shall will attorn to the transferee of or successor to Landlord’s interest in the Leaseto, Premises, Buildings or Property and recognize such transferee Mortgagee or successor purchaser, as the case may be, as Landlord under this LeaseLease for the balance then remaining of the lease Term, subject to all the terms of this Lease Agreement and any extensions thereof; and (c) that the aforesaid provision shall be self operative and no further instrument or document shall be necessary unless required by any such Mortgagee or purchaser in which event Tenant shall execute such instrument or document within ten (10) days after the request therefor. Notwithstanding Should Landlord or any Mortgagee or purchaser desire confirmation of such subordination or attornment, as the foregoingcase may be, any mortgagee under any mortgage shall have the right at any Tenant upon written request, and from time to subordinate any time, will execute and deliver without charge and in form satisfactory to Landlord, the Mortgagee or the purchaser all instruments and/or documents that may be requested to acknowledge such mortgage subordination and/or agreement to this Lease on such terms and subject to such conditions as the mortgagee attorn, in its discretion may consider appropriaterecordable form.

Appears in 1 contract

Samples: Lease Agreement (1 800 Autotow Inc)

Subordination and Attornment. This Lease shall be subject Without the necessity of any additional document being executed by Tenant for the purpose of effecting a subordination, and subordinated at all times to the terms election of each and every Landlord or any mortgagee or beneficiary with a mortgage, charge, debenture and/or deed of trust encumbering the Property or any portion thereof, or any lessor of a ground or underlying lease with respect to the Property or any portion thereof (any such mortgagee, beneficiary or lessor, a “Holder”), this Lease will be subject and subordinate at all times to: (i) all ground leases or underlying leases which may now exists exist or may hereafter be executed affecting the Premises under which Landlord shall claimProperty; (ii) the lien of any mortgage, and to the liens of each and every mortgage and charge, debenture and/or deed of trust which may now exist or hereafter be executed affecting the Property or any portion thereof; (iii) all past and future advances made under any such mortgages, charges, debentures and/or deeds of trust; and (iv) all renewals, modifications, replacements and extensions of any such ground leases, master leases, mortgages, charges, debentures and/or deeds of trust (collectively, “Security Documents”) which may now exist or hereafter be executed which constitute a lien upon or affect the Property or any portion thereof, or Landlord’s interest and estate in any amount or amounts whatsoever now or hereafter existing encumbering of said items, subject to the Premisesterms of Section 12.3, Buildings or below; provided, however, as a condition to Tenant’s agreement hereunder to subordinate Tenant’s interest in this Lease to any future Security Document not effective as of the PropertyEffective Date, and to all modificationsLandlord shall obtain from the applicable Holder, renewals and replacements thereto without the necessity a commercially reasonable form of having further instruments executed by Tenant to effect such subordination. Tenant, upon demand, shall further evidence its subordination by executing a subordination non-disturbance and attornment agreement in recordable form to which Tenant has no reasonable objection (any such agreement, an “SNDA”). Notwithstanding the foregoing, Landlord and/or the relevant Holder reserves the right to subordinate any such Security Documents to this Lease as if such Security Documents had been entered into, executed and substance mutually acceptable delivered and registered subsequent to Tenant and Landlord and its mortgagee or ground lessor, which subordination and attornment agreement must provide that so long as no default or event which with the passing of time or giving of notice would constitute a default exists under this Lease. Upon request, the peaceable possession of Tenant shall promptly and in and any event within ten (10) Business Days after request sign any document reasonably requested by Landlord or Holder to the Premisesacknowledge any such subordination or, and continued Permitted Use thereof, for the Term shall not be disturbed in the event of the foreclosure an exercise by such Holder of its rights and recourses under Security Documents, attorn to and become Tenant of the subject mortgage Holder or termination any purchaser from such Holder for the then unexpired residue of the subject ground or underlying lease affecting Term of, and upon all of the Premisesterms and conditions of this Lease. If Landlord represents and warrants that Landlord’s interest in the Buildings or Property is acquired by not subject to any ground lessor, mortgagee, or purchaser at a foreclosure sale Security Documents as of the Effective Date. In the event of any termination or transfer in lieu thereof, Tenant shall attorn to the transferee of or successor to Landlord’s estate or interest in the LeaseProperty, Premisesthe Building or the Tenant Space by reason of any termination or foreclosure of any such Security Documents (and notwithstanding any subordination of such Security Document to this Lease that may or may not have occurred), Buildings or at the election of Landlord’s successor in interest, Tenant agrees to attorn to and become the tenant of such successor, in which event Tenant’s right to possession of the Property and recognize such transferee or successor will not be disturbed as Landlord long as Tenant is not in default under this Lease. Notwithstanding the foregoing, Tenant hereby waives any mortgagee right under any mortgage shall have Applicable Law or otherwise to terminate or otherwise adversely affect this Lease and the right at obligations of Tenant hereunder in the event of any time to subordinate termination or transfer of Landlord’s estate or interest in the Property, the Building or the Tenant Space by reason of any termination or foreclosure of any such mortgage Security Documents. Tenant hereby covenants and agrees that, notwithstanding the fact that the Holder is not a party to this Lease on Lease, all covenants contained herein for the benefit of a Holder may be enforced by such terms and subject to such conditions Holder as the mortgagee in its discretion may consider appropriateif it were a party hereto.

Appears in 1 contract

Samples: Indemnity Agreement (Equinix Inc)

Subordination and Attornment. This Lease shall be subject and subordinated at all times to the terms of each and every ground or underlying lease which now exists or may hereafter be executed affecting the Premises under which Landlord shall claim, and to the liens of each and every mortgage and deed of trust in any amount or amounts whatsoever now or hereafter existing encumbering the Premises, Buildings or the Property, and to all modifications, renewals and replacements thereto without the necessity of having further instruments executed by Tenant to effect such subordination. Tenant, upon demand, shall further evidence its subordination by executing a subordination and attornment agreement in form and substance mutually acceptable to Tenant and Landlord and its mortgagee or ground lessor, which subordination and attornment agreement must provide that so long as no default or event which with the passing of time or giving of notice would constitute a default exists under this Lease, the peaceable possession of Tenant in and to the Premises, and continued Permitted Use thereof, for the Term shall not be disturbed in the event of the foreclosure of the subject mortgage or termination of the subject ground or underlying lease affecting the Premises. If LandlordLxxxxxxx’s interest in the Buildings or Property is acquired by any ground lessor, mortgagee, or purchaser at a foreclosure sale or transfer in lieu thereof, Tenant shall attorn to the transferee of or successor to LandlordLxxxxxxx’s interest in the Lease, Premises, Buildings or Property and recognize such transferee or successor as Landlord under this Lease. Notwithstanding the foregoing, any mortgagee under any mortgage shall have the right at any time to subordinate any such mortgage to this Lease on such terms and subject to such conditions as the mortgagee in its discretion may consider appropriate.

Appears in 1 contract

Samples: Lease Agreement (Power REIT)

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Subordination and Attornment. This Lease is subordinate to all liens and encumbrances affecting the Leased Premises, at any time and from time to time. This Lease is subordinate to any ground lease, mortgage or any other hypothecation or security interest hereafter placed upon the Leased Premises and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. The subordination set forth herein is self-operative, and no further instrument of subordination shall be required for any purpose. If any lender or ground lessor elects to have this Lease be prior to the lien of its mortgage or ground lease, and gives written notice thereof to Tenant, this Lease shall be subject and subordinated at all times deemed prior to such mortgage or ground lease, whether this Lease is dated prior or subsequent to the terms date of each and every said mortgage or ground lease. Xxxxxx agrees to execute any documents required to evidence such subordination or underlying lease which now exists to make this Lease prior to the lien of any mortgage or ground lease, as the case may hereafter be executed affecting the Premises under which Landlord shall claimbe, and failing to the liens of each and every mortgage and deed of trust in any amount or amounts whatsoever now or hereafter existing encumbering the Premises, Buildings or the Property, and to all modifications, renewals and replacements thereto without the necessity of having further instruments executed by Tenant to effect such subordination. Tenant, upon do so within ten (10) days after written demand, shall further evidence its subordination by executing a subordination does hereby make, constitute and attornment agreement irrevocably appoint Landlord as Xxxxxx's attorney in form fact and substance mutually acceptable in Xxxxxx's name, place and stead, to do so. Tenant and Landlord and its mortgagee or ground lessorshall, which subordination and attornment agreement must provide that so long as no default or in the event which with the passing of time or giving of notice would constitute a default exists under this Lease, the peaceable possession of Tenant in and to the Premises, and continued Permitted Use thereof, any proceedings are brought for the Term shall not be disturbed foreclosure of, or in the event of the foreclosure exercise of the subject power of sale under any mortgage or termination of encumbering the subject ground or underlying lease affecting the Leased Premises. If Landlord’s interest in the Buildings or Property is acquired by any ground lessor, mortgagee, or purchaser at a foreclosure sale or transfer in lieu thereof, Tenant shall attorn to the transferee of or successor to Landlord’s interest in the Lease, Premises, Buildings or Property purchaser at any foreclosure sale and recognize such transferee or successor purchaser as Landlord under this Lease. Notwithstanding the foregoing, any mortgagee under any mortgage shall have the right at any time to subordinate any such mortgage pursuant to this Lease on such terms and subject shall execute any documents required to such conditions as the mortgagee in its discretion may consider appropriateevidence same.

Appears in 1 contract

Samples: Commercial Lease (ETHEMA HEALTH Corp)

Subordination and Attornment. Landlord reserves the right to place liens and encumbrances on the Premises superior in lien and effect to this Lease. This Lease shall Lease, and all rights of Tenant hereunder, shall, at the option of Landlord, be subject and subordinated at all times subordinate to the terms of each any liens and every ground or underlying lease which now exists or may hereafter be executed affecting the Premises under which Landlord shall claim, and to the liens of each and every mortgage and deed of trust in any amount or amounts whatsoever encumbrances now or hereafter existing encumbering imposed by Landlord upon the Premises or the Building or any part thereof, and Tenant agrees to execute, acknowledge, and deliver to Landlord, upon request, any and all instruments that may be necessary or proper to subordinate this Lease and all rights herein to any such lien or encumbrance as may be required by Landlord. In the event any proceedings are brought for the foreclosure of any mortgage on the Premises, Buildings or the Property, and to all modifications, renewals and replacements thereto without the necessity of having further instruments executed by Tenant to effect such subordination. Tenant, upon demand, shall further evidence its subordination by executing a subordination and attornment agreement in form and substance mutually acceptable to Tenant and Landlord and its mortgagee or ground lessor, which subordination and attornment agreement must provide that so long as no default or event which with the passing of time or giving of notice would constitute a default exists under this Lease, the peaceable possession of Tenant in and to the Premises, and continued Permitted Use thereof, for the Term shall not be disturbed in the event of the foreclosure of the subject mortgage or termination of the subject ground or underlying lease affecting the Premises. If Landlord’s interest in the Buildings or Property is acquired by any ground lessor, mortgagee, or purchaser at a foreclosure sale or transfer in lieu thereof, Tenant shall will attorn to the transferee of or successor to Landlord’s interest in purchaser at the Lease, Premises, Buildings or Property foreclosure sale and recognize such transferee or successor purchaser as the Landlord under this Lease. Notwithstanding The purchaser, by virtue of such foreclosure, shall be deemed to have assumed, as substitute Landlord, the terms and conditions of this Lease 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 mortgagee under any mortgage shall have the right at any time of election to subordinate terminate this Lease because of any such mortgage to this Lease on such terms and subject to such conditions as the mortgagee in its discretion may consider appropriateforeclosure proceedings.

Appears in 1 contract

Samples: Office Building Lease (Gabriel Technologies Corp)

Subordination and Attornment. This Lease shall be subject and subordinated subordinate at all times to the terms lien of each and every any underlying ground leases, mortgages or underlying lease which now exists or may hereafter be executed affecting the Premises under which Landlord shall claim, and to the liens of each and every mortgage and deed deeds of trust in any amount or amounts whatsoever now or hereafter existing encumbering placed by the Premises, Buildings or Landlord upon the PropertyCenter and to any and all advances to be made thereunder, and to all modificationsrenewals, renewals replacements and replacements thereto without extensions thereof, provided the necessity of having further instruments executed by Tenant to effect such subordination. Tenant, upon demand, shall further evidence its subordination by executing a subordination and attornment agreement in form and substance mutually acceptable to Tenant and Landlord and its mortgagee or ground lessor, which subordination and attornment agreement must provide that so long as no default trustee named in said mortgages or event which with the passing deeds of time or giving of notice would constitute a default exists under trust shall agree to recognize this Lease, the peaceable possession of Tenant in and to the Premises, and continued Permitted Use thereof, for the Term shall not be disturbed Lease in the event of foreclosure if Tenant is not in default. This clause shall be self-operative, and no further instrument or act on the part of the Tenant shall be required to effectuate such subordination. In confirmation thereof, Tenant shall execute such further assurances as may be required. Any mortgagee, or trustee under any deed of trust may elect that this Lease shall have priority over its mortgage or deed of trust, and upon notification of such election by such mortgagee 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 date of such mortgage or deed of trust. If any proceedings are brought for the foreclosure of the subject Center, or if the power of sale under a mortgage or termination deed of the subject ground or underlying lease affecting the Premises. If Landlord’s interest in the Buildings or Property trust is acquired by any ground lessorexercised, mortgagee, or purchaser at a foreclosure sale or transfer in lieu thereof, then Tenant shall attorn to the transferee of purchaser upon any such foreclosure or successor to Landlord’s interest in the Lease, Premises, Buildings or Property sale and recognize such transferee or successor purchaser as the Landlord under this Lease. Notwithstanding Tenant hereby appoints Landlord to be the foregoing, any mortgagee under any mortgage shall have the right at any time attorney-in-fact of Tenant (which appointment is irrevocable and coupled with an interest) to subordinate execute and deliver any such mortgage to this Lease instrument or instruments for and on such terms behalf of and subject to such conditions as in the mortgagee in its discretion may consider appropriatename of Tenant.

Appears in 1 contract

Samples: Court East and West (Telvent Git S A)

Subordination and Attornment. This Lease is and shall be subject and subordinated at subordinate to all times to the terms of each and every ground or underlying lease which now exists or may hereafter be executed affecting the Premises under which Landlord shall claim, leases and to the liens of each and every any mortgage and or deed of trust in any amount or amounts whatsoever that may now or hereafter existing encumbering be placed against the Premises, Buildings or the Property, and to all renewals, modifications, renewals consolidations, replacements and replacements thereto without the necessity of having further instruments executed by extensions thereof. This subordination shall be self-operative; however, Tenant to effect such subordination. Tenant, upon demand, shall further evidence its subordination by executing a subordination and attornment agreement in form and substance mutually acceptable to Tenant and promptly execute any instrument that Landlord and its mortgagee or ground lessor, which subordination and attornment agreement must provide that so long as no default or event which with the passing of time or giving of notice would constitute a default exists under this Lease, the peaceable possession of Tenant in and to the Premises, and continued Permitted Use thereof, for the Term shall not be disturbed in the event of the foreclosure of the subject mortgage or termination of the subject ground or underlying lease affecting the Premises. If Landlord’s interest in the Buildings or Property is acquired by any ground lessor, mortgagee, mortgagee or purchaser at holder of a foreclosure sale or transfer in lieu thereof, deed of trust may request confirming subordination. Tenant shall attorn hereby appoints Landlord as Xxxxxx’s attorney-in- fact to the transferee execute any such instrument on behalf of or successor to Landlord’s interest in the Lease, Premises, Buildings or Property and recognize such transferee or successor as Landlord under this LeaseXxxxxx. Notwithstanding the foregoing, any the mortgagee under any mortgage or holder of a deed of trust that may now or hereafter be placed against the Premises shall have the right at any time unilateral, unconditional right, exercisable by providing written notice thereof to Tenant, to subordinate any or cause to be subordinated the mortgage or deed of trust to this Lease. If such mortgagee or holder of a deed of trust so elects and subsequently forecloses such mortgage or deed of trust, this Lease shall continue in full force and effect and Tenant shall attorn to and recognize as its landlord the purchaser of Landlord’s interest under this Lease, and the purchaser shall not disturb Tenant’s rights under this Lease as long as Tenant is not in default under this Lease. Tenant shall, upon the request of a mortgagee, holder of a deed of trust or purchaser at foreclosure, execute, acknowledge and deliver any instrument that has for its purpose and effect the subordination of the lien of any mortgage or deed of trust to this Lease on such terms and subject or Xxxxxx’s attornment to such conditions as the mortgagee in its discretion may consider appropriatepurchaser.

Appears in 1 contract

Samples: School Lease

Subordination and Attornment. This Lessee accepts this Lease shall be subject and subordinated at subordinate to any mortgage or mortgages (including, without limitation, the notes or other obligations secured thereby and any and all times renewal, modifications, consolidations, replacements or extensions of any such mortgages or the notes or other obligations secured thereby) now in existence or hereinafter made from time to time, effecting the terms of each and every ground or underlying lease which now exists or may hereafter be executed affecting the Premises under which Landlord shall claim, and title to the liens of each and every mortgage and deed of trust in any amount or amounts whatsoever now or hereafter existing encumbering the Premises, Buildings or the Property, Building or Property or Lessor's interest therein. Lessee also accepts this Lease subject and subordinate to all instruments in the chain of fee title to the Property including any and all renewals, modifications, renewals consolidations, replacements or extensions of such instruments. Lessee shall execute, acknowledge and replacements thereto without the necessity of having further instruments executed by Tenant to effect such subordination. Tenant, upon demand, shall further evidence its subordination by executing a subordination and attornment agreement in form and substance mutually acceptable to Tenant and Landlord and its mortgagee or ground lessor, which subordination and attornment agreement must provide that so long as no default or event which with the passing of time or giving of notice would constitute a default exists under this Lease, the peaceable possession of Tenant in and deliver to the Premisesholder of any such mortgage or to any of the parties to such instruments, and continued Permitted Use thereofwithin fifteen (15) days of demand by such holder or by any such party, any releases, certificates or other documents that may be required by such holder or by any such party, for the Term shall not be disturbed in purpose of evidencing the subordination of this Lease to such mortgages or instruments or to any renewals, modifications, consolidations, replacements or extensions thereof; provided that such documents contain non-disturbance provisions satisfactory to Lessee. In the event of the foreclosure a sale under any mortgage (or any note or other obligation secured thereby) to which this Lease is subordinate, or a taking of possession of the subject mortgage or termination of the subject ground or underlying lease affecting the Leases Premises. If Landlord’s interest in the Buildings , Building or Property is acquired by any ground lessor, mortgagee, the mortgagee or purchaser at a foreclosure sale other person acting for or transfer in lieu thereof, Tenant shall attorn to through the transferee of or successor to Landlord’s interest in the Lease, Premises, Buildings or Property and recognize such transferee or successor as Landlord under this Lease. Notwithstanding the foregoing, any mortgagee under any mortgage shall have to which this Lease is subordinate, then, and upon the right at any time to subordinate happening of any such mortgage events, Lessee shall attorn to and recognize, as Landlord hereunder the party who, but for this Lease on such terms and subject Lease, would be entitled to such conditions as possession of the mortgagee in its discretion may consider appropriateLeased Premises, Building or Property; provided that satisfactory non-disturbance obligations are provided to Lessee.

Appears in 1 contract

Samples: Lease (Source Interlink Companies Inc)

Subordination and Attornment. (a) This Lease shall be subject and subordinated at all times the estate, interest and rights hereby created are subordinate to the terms of each and every ground or underlying lease which now exists or may hereafter be executed affecting the Premises under which Landlord shall claim, and to the liens of each and every any mortgage and deed of trust in any amount or amounts whatsoever now or hereafter existing encumbering placed upon the PremisesLand, Buildings the Building or the Propertyany interest therein, and to all renewals, modifications, renewals consolidations, replacements and replacements thereto without extensions of same as well as any substitutions therefor. Lessee agrees that in the necessity event any person, firm, corporation or other entity acquires the right to possession of having further instruments executed by Tenant the Land and the Building including any mortgages, Lessee shall, if requested, attorn to effect and become the tenant of such subordination. Tenantperson, firm, corporation or other entity, upon demand, the same terms and conditions as are set forth herein for the balance of the Lease term. The foregoing shall further evidence its subordination by executing a subordination and attornment be operative with respect to any lien hereafter created only if Lessor shall deliver to Lessee the written agreement in form and substance mutually acceptable to Tenant and Landlord and its mortgagee or ground lessor, which subordination and attornment agreement must provide of the lienholder that so long as no default or event which with the passing of time or giving of notice would constitute a default exists such lienholder shall not disturb Lessee's possession under this Lease, the peaceable possession of Tenant in and to the Premises, and continued Permitted Use thereof, for the Term shall not be disturbed in the event of the foreclosure of the subject mortgage or termination of the subject ground or underlying lease affecting the Premises. If Landlord’s interest in the Buildings or Property is acquired by any ground lessorforeclosure, mortgagee, or purchaser at a foreclosure sale or transfer in lieu thereof, Tenant or other enforcement proceedings, provided that Lessee shall not be in default hereunder. Any such agreement shall be in reasonable form, may require Lessee to confirm the subordination of this Lease and to agree to attorn to the transferee lienholder, and may provide that the lienholder is not bound by the acts or omissions of Lessor, and Lessee shall not unreasonably withhold or successor to Landlord’s interest in the Leasedelay execution or delivery of such agreement. Lessee, Premisesif requested by Lessor, Buildings or Property and recognize such transferee or successor as Landlord under this Lease. Notwithstanding the foregoing, any mortgagee under any mortgage shall have the right at any time to subordinate execute any such mortgage instruments in recordable form as may be reasonably required by Lessor in order to confirm or effect the subordination of this Lease on such and the attornment of Lessee to future landlords in accordance with the terms and subject to such conditions as the mortgagee in its discretion may consider appropriatehereof.

Appears in 1 contract

Samples: Site Lease (NRG Generating U S Inc)

Subordination and Attornment. This Lease shall be subject Without the necessity of any additional document being executed by Tenant for the purpose of effecting a subordination, and subordinated at all times to the terms election of each and every Landlord or any mortgagee or beneficiary with a mortgage deed or deed of trust encumbering the Property or any portion thereof, or any lessor of a ground or underlying lease with respect to the Property or any portion thereof (any such mortgagee, beneficiary or lessor, a “Holder”), this Lease will be subject and subordinate at all times to: (i) all ground leases or underlying leases which may now exists exist or may hereafter be executed affecting the Premises under which Landlord shall claimProperty; (ii) the lien of any mortgage, and to the liens of each and every mortgage and deed or deed of trust in any amount or amounts whatsoever which may now exist or hereafter existing encumbering be executed for which the PremisesProperty or any portion thereof; (iii) all past and future advances made under any such mortgages, Buildings deeds or the Propertydeeds of trust; and (iv) all renewals, and to all modifications, renewals replacements and replacements thereto without the necessity extensions of having further instruments any such ground leases, master leases, mortgages, deed and deeds of trust (collectively, “Security Documents”) which may now exist or hereafter be executed by Tenant to effect such subordination. Tenant, upon demand, shall further evidence its subordination by executing a subordination and attornment agreement in form and substance mutually acceptable to Tenant and Landlord and its mortgagee or ground lessor, which subordination and attornment agreement must provide that so long as no default or event which with the passing of time or giving of notice would constitute a default exists under this Lease, lien upon or affect the peaceable possession of Tenant in and to the Premises, and continued Permitted Use Property or any portion thereof, for the Term shall not be disturbed in the event of the foreclosure of the subject mortgage or termination of the subject ground or underlying lease affecting the Premises. If Landlord’s interest and estate in the Buildings or Property is acquired by any ground lessor, mortgagee, or purchaser at a foreclosure sale or transfer in lieu thereof, Tenant shall attorn to the transferee of or successor to Landlord’s interest in the Lease, Premises, Buildings or Property and recognize such transferee or successor as Landlord under this Leasesaid items. Notwithstanding the foregoing, any mortgagee under any mortgage shall have Landlord reserves the right at any time to subordinate any such mortgage Security Documents to this Lease. In the event of any termination or transfer of Landlord’s estate or interest in the Property, the Building, or the Tenant Space by reason of any termination or foreclosure of any such Security Documents (and notwithstanding any subordination of such Security Document to this Lease on that may or may not have occurred), at the election of Landlord’s successor in interest, Tenant agrees to attorn to and become the tenant of such terms successor, in which event Tenant’s right to possession of the Property will not be disturbed as long as Tenant is not in default under this Lease. Tenant hereby waives any right under any Applicable Law or otherwise to terminate or otherwise adversely affect this Lease and subject the obligations of Tenant hereunder in the event of any termination or transfer of Landlord’s estate or interest in the Property, the Building, or the Tenant Space by reason of any termination or foreclosure of any such Security Documents. Tenant covenants and agrees to execute and deliver, within ten (10) days of receipt thereof, and in the form reasonably required by Landlord or in the standard form required by any Holder, any additional documents evidencing the priority or subordination of this Lease and Tenant’s agreement to attorn with respect to any such Security Document; provided, however, (aa) any such agreement subordinating this Lease to such conditions lease, mortgage or deed of trust shall contain a nondisturbance provision in the standard form of such Holder; and (bb) Landlord agrees that, in connection (and contemporaneously) with Landlord’s placing of debt on the Property, Landlord shall obtain and deliver a Subordination and Non-Disturbance Agreement, as it relates to this Lease, from Landlord’s lender in the mortgagee in its discretion may consider appropriateform reasonably required by such lender.

Appears in 1 contract

Samples: Datacenter Lease (SAVVIS, Inc.)

Subordination and Attornment. This (a) Tenant agrees that this Lease shall be subject and subordinated at all times subordinate to the terms of each and every ground any mortgages or underlying lease which now exists or may hereafter be executed affecting the Premises under which Landlord shall claim, and to the liens of each and every mortgage and deed deeds of trust in any amount or amounts whatsoever now or hereafter existing encumbering placed upon the Premises, Buildings or the PropertyPremises and to all modifications thereto, and to all modificationspresent and future advances made with respect to any such mortgage or deed of trust. This clause is self-operative. Nevertheless, renewals Tenant agrees at any time to execute any and replacements thereto without the necessity of having further instruments executed all documents requested by Tenant Landlord to effect such confirm this subordination. Tenant, upon demand, shall further evidence its subordination by executing a subordination and attornment agreement in form and substance mutually acceptable Tenant agrees to Tenant and Landlord and its mortgagee or ground lessor, which subordination and attornment agreement must provide that so long as no default or event which with the passing of time or giving of notice would constitute a default exists under this Lease, the peaceable possession of Tenant in and attorn to the Premisesmortgagee, and continued Permitted Use trustee,or beneficiary under any such mortgage or deed of trust or the purchaser at a sale pursuant to the foreclosure thereof, for the Term shall not be disturbed in . In the event of the foreclosure sale, assignment, or transfer by Landlord of the subject mortgage or termination of the subject ground or underlying lease affecting the Premises. If Landlord’s its interest in the Buildings or Property is acquired by Premises to a successor in interest who expressly assumes the obligations of Landlord hereunder, Landlord shall thereupon be released and discharged from all of its covenants and obligations hereunder, except such obligations which shall have accrued prior to any ground lessorsuch sale, mortgageeassignment, or purchaser at a foreclosure sale transfer; and Tenant agrees to look solely to any successor in interest of Landlord for performance of any such obligations. (b) Tenant agrees that the liability of Landlord Under this Lease, and all matters or transfer in lieu thereof, Tenant things pertaining to or arising out of the tenancy and/or the use and occupancy of the Premises shall attorn to the transferee of or successor be limited solely to Landlord’s 's interest in the LeaseBuilding in which the Premises form a part, Premisesas it exists at the Commencement Date. In no event shall Tenant make claim of damage against, Buildings or Property and recognize such transferee seek to impose or successor as satisfy any liability of Landlord under this Lease. Notwithstanding the foregoingagainst any other property, building, or assets which Landlord or any mortgagee under any mortgage shall of its officers, directors or employees, agents or representatives have the right at any time to subordinate any such mortgage to this Lease on such terms and subject to such conditions as the mortgagee in its discretion may consider appropriatean interest in.

Appears in 1 contract

Samples: Decorize Inc

Subordination and Attornment. This Lease and all of Tenant’s rights hereunder shall be subject subordinate to any and subordinated at all times Encumbrances, to the terms of each all renewals, modifications, consolidations, replacements and every ground or underlying lease which now exists or may hereafter be executed affecting the Premises under which Landlord shall claimextensions thereof, and to any and all advances made or hereafter made on the liens security thereof or Landlord’s interest therein, unless an Encumbrancer requires in writing that this Lease be superior to its Encumbrance . Landlord represents that as of each and every the date of this Lease, there exists no mortgage and or deed of trust encumbering Landlord ‘s interest in the Building. If any amount proceeding is brought for the foreclosure of any such Encumbrance (or amounts whatsoever now or hereafter existing encumbering the Premises, Buildings or the Propertyif any ground lease is terminated), and if requested by such purchaser or Encumbrancer, Tenant (i) shall attorn, without any deductions or set-offs whatsoever, to all modifications, renewals and replacements the Encumbrancer or purchaser or any successors thereto without upon any foreclosure sale or deed in lieu thereof (or to the necessity of having further instruments executed by Tenant to effect such subordination. Tenant, upon demand, shall further evidence its subordination by executing a subordination and attornment agreement in form and substance mutually acceptable to Tenant and Landlord and its mortgagee or ground lessor), which subordination and attornment agreement must provide that so long (ii) shall recognize such purchaser or Encumbrancer as no default or event which with the passing of time or giving of notice would constitute a default exists lessor under this Lease, provided such purchaser or Encumbrancer accepts this Lease and does not disturb Tenant’s occupancy, so long as Tenant timely pays Rent and observes and performs the peaceable possession terms, covenants and conditions of Tenant in this Lease to be observed and to the Premises, and continued Permitted Use thereof, for the Term shall not be disturbed in the event of the foreclosure of the subject mortgage or termination of the subject ground or underlying lease affecting the Premises. If Landlord’s interest in the Buildings or Property is acquired performed by any ground lessor, mortgagee, or purchaser at a foreclosure sale or transfer in lieu thereof, Tenant shall attorn to the transferee of or successor to Landlord’s interest in the Lease, Premises, Buildings or Property and recognize such transferee or successor as Landlord under this LeaseTenant. Notwithstanding the foregoing, upon written request by Tenant, Landlord will use reasonable efforts to obtain a non-disturbance, subordination and attornment agreement from any mortgagee under any mortgage shall have the right at any time to subordinate any such mortgage to this Lease future Encumbrancer on such terms and subject Encumbrancer’s then current standard form of agreement. “Reasonable efforts” of Landlord shall not require Landlord to incur any cost, expense or liability to obtain such conditions as the mortgagee in its discretion may consider appropriate.agreement, it being agreed that

Appears in 1 contract

Samples: Office Lease (Stitch Fix, Inc.)

Subordination and Attornment. This Tenant accepts this Lease shall be subject and subordinated at all times subordinate to any mortgage, deed of trust, or other lien presently existing on the terms of each and every ground Project or underlying lease which now exists the land or may hereafter be executed affecting subsequently created on the Premises under which Landlord shall claimProject, and to the liens of each and every mortgage and deed of trust in any amount or amounts whatsoever now or hereafter existing encumbering the Premises, Buildings or the Property, and to all modifications, renewals and replacements thereto without the necessity of having further instruments executed by Tenant to effect such subordination. Tenant, upon demand, shall further evidence its subordination by executing a subordination and attornment agreement in form and substance mutually acceptable to Tenant and Landlord and its mortgagee or ground lessor, which subordination and attornment agreement must provide that so long as no default or event which with the passing of time or giving of notice would constitute a default exists under this Lease, the peaceable possession of Tenant in and to the Premises, and continued Permitted Use extensions thereof, for the Term shall not be disturbed in the event of the foreclosure of the subject mortgage or termination of the subject ground or underlying lease affecting the Premises. If Landlord’s interest in the Buildings or Property is acquired by but Tenant agrees that any ground lessor, mortgagee, or purchaser at a foreclosure sale or transfer in lieu thereof, Tenant shall attorn to the transferee of or successor to Landlord’s interest in the Lease, Premises, Buildings or Property and recognize such transferee or successor as Landlord under this Lease. Notwithstanding the foregoing, any mortgagee under any mortgage shall have the right at any time to subordinate such mortgage, deed of trust, or other lien to this Lease. Landlord is hereby irrevocably vested with full power and authority to subordinate this Lease to any mortgage, deed of trust, or other lien hereafter placed on the Project or the land, and Tenant agrees on demand to execute such further instruments subordinating this Lease as Landlord may request, provided such subordination shall be on the express condition that this Lease shall be recognized by the mortgagee, and that the rights of Tenant shall remain in full force and effect during the Lease Term so long as Tenant shall continue to perform all of the covenants and conditions of this Lease. No such mortgagee shall be required to assume any liabilities for defaults occurring prior to its ownership of the Project. Tenant covenants and agrees that upon foreclosure of any deed of trust, mortgage or other instrument of security and the sale of the Project or the land pursuant to any such mortgage document, to attorn to any purchaser at such a sale and to recognize such purchaser as the Landlord under this Lease on such terms and subject Lease. The agreement of Tenant to attorn to any purchaser pursuant to such conditions as a foreclosure sale or trustee's sale in the mortgagee in its discretion may consider appropriateimmediately preceding sentence shall survive any such sale.

Appears in 1 contract

Samples: Lease Agreement (Precision Optics Corporation, Inc.)

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