Subordination to Mortgage. Manager shall provide to any Mortgagee an instrument (the “Subordination Agreement”), reasonably satisfactory in all respects to Owner and such Mortgagee, which shall be recordable in the jurisdiction where the Hotel is located, pursuant to which:
Appears in 16 contracts
Samples: Management Agreement (Apple REIT Ten, Inc.), Management Agreement (Apple REIT Ten, Inc.), Management Agreement (Apple REIT Nine, Inc.)
Subordination to Mortgage. Manager shall provide to any Mortgagee an a commercially reasonable instrument (the “Subordination Agreement”), reasonably satisfactory in all respects to Owner and such Mortgagee, which shall be recordable in the jurisdiction where the Hotel is located, pursuant to which:
Appears in 2 contracts
Samples: Management Agreement (Apple REIT Ten, Inc.), Management Agreement (Apple REIT Nine, Inc.)
Subordination to Mortgage. Subject to the provisions of Section 1.02.A.10, Manager shall provide to any Mortgagee an instrument (the “Subordination Agreement”), reasonably satisfactory in all respects to Manager, Owner and such Mortgagee; provided, however, such Subordination Agreement will not impair the ability of Manager to operate the Hotel and receive payments due Manager under this Agreement, or modify the terms and conditions of this Agreement without Manager’s approval in its sole and absolute discretion, which shall be recordable in the jurisdiction where the Hotel is located, pursuant to which:.
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