Common use of Subordination to Mortgage Clause in Contracts

Subordination to Mortgage. (a) Tenant accepts this Lease subject and subordinate to any mortgage, deed of trust or other lien presently existing or hereafter arising upon the Premises, upon the Building or upon the Property as a whole, and to any renewals, refinancing and extensions thereof, but Tenant agrees that any such mortgagee shall have the right at any time to subordinate such mortgage, deed of trust or other lien to this Lease on such term and subject to such conditions as such mortgagee may deem appropriate in its discretion. Landlord is hereby irrevocably vested with full power and authority to subordinate this Lease to any mortgage, deed of trust or other lien now existing or hereafter placed upon the Premises, the Building or the Property as a whole, and Tenant agrees upon demand to execute such further instruments subordinating this Lease (or such mortgage to this Lease) or attorning to the holder of any such liens as Landlord may request. In the event that Tenant should fail to execute any such instrument promptly as requested, Tenant hereby irrevocably constitutes Landlord as its attorney-in-fact to execute such instrument in Tenant's name, place and stead, it being agreed that such power is one coupled with an interest. Tenant agrees that it will from time to time upon request by Landlord execute and deliver to such persons as Landlord shall request a statement in recordable form certifying that this Lease is unmodified and in full force and effect (or if there have been modifications, that the same is in full force and effect as so modified), stating the dates to which rent and other charges payable under this Lease have been paid, stating that Landlord is not in default hereunder (or if Tenant alleges a default stating the nature of such alleged default) and further stating such other matters as Landlord shall reasonably require.

Subordination to Mortgage. (a) Tenant accepts this This Lease is and shall be subject and subordinate to any mortgage, mortgage and/or deed of trust or other lien created by Landlord, whether presently existing or hereafter arising upon the Premises, upon the Building or upon the Property as a wholeBuilding, and to any renewals, refinancing and extensions thereof, but Tenant agrees that any such mortgagee shall have the right at any time to subordinate such mortgage, mortgage and/or deed of trust or other lien to this Lease lease on such term terms and subject to such conditions as such mortgagee may deem appropriate in its discretion. Landlord is hereby irrevocably vested with full power and authority to subordinate this Lease to any mortgage, mortgage and/or deed of trust or other lien now existing or hereafter placed upon the Premises, or the Building or the Property as a whole, and Tenant agrees upon demand to execute such further instruments subordinating this Lease (or such mortgage to this Lease) or attorning to the holder of any such liens as Landlord may reasonably request. The terms of this Lease are subject to approval by the Landlord’s lender(s), and such approval is a condition precedent to Landlord’s obligations hereunder. In addition, all leases of portions of the Building will be subordinate to such lender(s), mortgage(s). In the event that Tenant should fail to execute any such instrument subordination or other agreement required by this Paragraph, promptly as requested, Tenant hereby irrevocably constitutes Landlord as its attorney-in-fact to execute such instrument in Tenant's ’s name, place and stead, it being agreed that such power is one coupled with an interest. Tenant agrees that it will may from time to time time, upon request by Landlord Landlord, execute and deliver to such persons as Landlord shall request reasonably request, a statement in recordable form certifying that this Lease is unmodified and in full force and effect (or if there have been modifications, that the same is in full force and effect as so modified), stating the dates to which rent and other charges payable under this Lease have been paid, stating that Landlord is not in default hereunder (or if Tenant alleges a default stating the nature of such alleged default) and further stating such other matters as Landlord or its mortgagee(s) shall reasonably require. Tenant shall, in the event of the sale or assignment of Landlord’s interest in the Building of which the Premises form a part, (providing Landlord is not then in default) or in the event of any proceedings brought for the foreclosure of, or in the event of exercise of the power of sale under, any mortgage made by Landlord covering the Premises, attorn to the purchaser and recognize such purchaser as Landlord under this Lease. Landlord shall, however, if requested by the Tenant, obtain a covenant of non-disturbance from any mortgagee for the benefit of the Tenant. Said covenant of nondisturbance shall state that, providing the Tenant is not then in default of this Lease, the mortgagee, upon taking title to the property by foreclosure or by deed in lieu thereto will not disturb the Tenant’s peaceful use and enjoyment of the Premises and that the mortgagee shall assume the Landlord’s obligations hereunder from the date mortgagee takes title to the property.

Subordination to Mortgage. (a) Tenant accepts this Lease subject and subordinate to any mortgage, deed of trust or other lien presently existing or hereafter arising upon the Premises, or upon the Building or upon and/or the Property as a whole, and to any renewals, refinancing modifications, consolidations, refinancing, and extensions thereof, but Tenant agrees that any such mortgagee shall have the right at any time to subordinate such mortgage, deed of trust or other lien to this Lease on such term terms and subject to such conditions as such mortgagee may deem appropriate in its discretion. Landlord is hereby irrevocably vested with full power and authority to subordinate this Lease to any mortgage, deed of trust or other lien now existing or hereafter placed upon the Premises, or the Building or and/or the Property as a whole, and Tenant agrees upon demand to execute such further instruments subordinating this Lease (or such mortgage to this Lease) or attorning to the holder of any such liens as Landlord may request. The terms of this Lease are subject to approval by the Landlord's permanent lender(s), and such approval is a condition precedent to Landlord's obligations hereunder. In the event that Tenant should fail to execute any such instrument subordination or other agreement required by this Paragraph promptly as requested, Tenant hereby irrevocably constitutes Landlord as its attorney-in-fact to execute such instrument in Tenant's name, place and stead, it being agreed that such power is one coupled with an interest. Tenant agrees that it will from time to time upon request by Landlord execute and deliver to such persons as Landlord shall request a statement in recordable form certifying that this Lease is unmodified and in full force and effect (or or, if there have been modifications, that the same is in full force and effect as so modified), stating the dates to which rent Rent and other charges payable under this Lease have been paid, stating that the Landlord is not in default hereunder (or if Tenant alleges a default stating the nature of such alleged default) and further stating such other matters as Landlord shall reasonably require.

Subordination to Mortgage. (a) Tenant accepts this This Lease is and shall be subject and subordinate to any mortgage, deed of trust or other lien created by Landlord, whether presently existing or hereafter arising upon the Premises, upon the Building or upon the Property as a whole, Project and to any renewals, refinancing and extensions thereof, but Tenant agrees that any such mortgagee shall have the right at any time to subordinate such mortgage, deed of trust or other lien to this Lease on such term terms and subject to such conditions as such mortgagee may deem appropriate in its discretion. Landlord is hereby irrevocably vested with full power and authority to subordinate this Lease to any mortgage, deed of trust or other lien now existing or hereafter placed upon the Premises, the Building or the Property Project as a whole, whole or any part thereof and Tenant agrees upon demand to execute such further instruments subordinating this Lease (or such mortgage to this Lease) or attorning to the holder of any such liens as Landlord may request. In addition, all leases of portions of the Building will be subordinate to any lender(s)' mortgage. In the event that Tenant should shall fail to execute any such instrument subordination or other agreement required by this paragraph, promptly as requested, Tenant hereby irrevocably constitutes Landlord as its attorney-in-fact to execute such instrument in Tenant's name, place and stead, it being agreed that such power is one coupled with an interest. Tenant agrees that it will from time to time upon request by Landlord execute and deliver to such persons as Landlord shall request a statement in recordable form certifying that this Lease is unmodified and in full force and effect (or if there have been modifications, that the same is in full force and effect as so modified), stating the dates to which rent and other charges payable under this Lease have been paid, stating that Landlord is not in default hereunder (or if Tenant alleges a default stating the nature of such alleged default) and further stating such other matters as Landlord or its mortgagee(s) shall reasonably requirerequires.

Subordination to Mortgage. (a) Tenant accepts this Lease subject and subordinate to any mortgage, deed of trust or other lien presently existing or hereafter arising upon the Premises, or upon the Building or upon and/or the Property as a whole, and to any renewals, refinancing modifications, consolidations, refinancing, and extensions thereof, but Tenant agrees that any such mortgagee shall have the right at any time to subordinate such mortgage, deed of trust or other lien to this Lease on such term terms and subject to such conditions as such mortgagee may deem appropriate in its discretion. Landlord is hereby irrevocably vested with full power and authority to subordinate this Lease to any mortgage, deed of trust or other lien now existing or hereafter placed upon the Premises, or the Building or and/or the Property as a whole, and Tenant agrees upon demand to execute such further instruments subordinating this Lease (or such mortgage to this Lease) or attorning to the holder of any such liens as Landlord may request. The terms of this Lease are subject to approval by the Landlord's permanent lender(s), and such approval is a condition precedent to Landlord's obligations hereunder. In the event that Tenant should fail to execute any such instrument subordination or other agreement required by this Paragraph promptly as requested, Tenant hereby irrevocably constitutes Landlord as its attorney-in-fact to execute such instrument in Tenant's name, place and stead, it being agreed that such power is one coupled with an interest. Tenant agrees that it will from time to time upon request by Landlord execute and deliver to such persons as Landlord shall request a statement in recordable form certifying that this Lease is unmodified and in full force and effect (or if there have been modifications, that the same is in full force and effect as so modified), stating the dates to which rent Rent and other charges payable under this Lease have been paid, stating that the Landlord is not in default hereunder (or if Tenant alleges a default stating the nature of such alleged default) and further stating such other matters as Landlord shall reasonably require.

Subordination to Mortgage. (a) Tenant accepts this This Lease is and shall be subject and subordinate to any mortgage, deed of trust or other lien created by Landlord, whether presently existing or hereafter arising upon the Premises, or upon the Building or upon the Property as a whole, and to any renewals, refinancing and extensions thereof, but Tenant agrees that any such mortgagee shall have the right at any time to subordinate such mortgage, deed of trust or other lien to this Lease on such term terms and subject to such conditions as such mortgagee may deem appropriate in its discretion. Landlord is hereby irrevocably vested with full power and authority to subordinate this Lease to any mortgage, deed of trust or other lien now existing or hereafter placed upon the Premises, or the Building or the Property as a whole, and Tenant agrees upon demand to execute such further instruments subordinating this Lease (or such mortgage to this Lease) or attorning to the holder of any such liens as Landlord may requestrequests The terms of this Lease are subject to approval by the Landlord’s permanent lender(s), and such approval is a condition precedent to Landlord’s obligations hereunder. In addition all leases of portions of the Building will be subordinate to such permanent lender(s) mortgage. In the event that Tenant should fail to execute any such instrument subordination or other agreement required by this Paragraph promptly as requested, Tenant hereby irrevocably constitutes Landlord as its attorney-in-fact to execute such instrument in Tenant's ’s name, place and stead, it being agreed that such power is one coupled with an interest. Tenant agrees that it will from time to time upon request by Landlord execute and deliver to such persons as Landlord shall request a statement in recordable form certifying that this Lease is unmodified and in full force and effect (or if there have been modifications, modifications that the same is in full force and effect as so modified), ) stating the dates to which rent and other charges payable under this Lease have been paid, stating that Landlord is not in default hereunder (or if Tenant alleges a default stating the nature of such alleged default) ), and further stating such other matters as Landlord or its mortgagee(s) shall reasonably require.. In the event of the sale or assignment of Landlord’s interest in the Building, or in the event of any proceedings brought for the foreclosure of any mortgage made by Landlord encumbering the Building or in the event of a deed in lieu of such foreclosure, Tenant shall attorn to the purchaser, foreclosing mortgagee and/or grantee, as the case may be, their successors and assigns, and recognize them as landlord under this Lease. In no event will any successor landlord be liable to Tenant for any security deposit or for rents paid more than one month in advance except to the extent that such security deposit or rents have been actually received by the successor landlord, nor shall a successor landlord be liable to Tenant for any breach of obligations committed by a predecessor landlord under this Lease. Landlord__________Tenant__________

Subordination to Mortgage. (a) Tenant accepts this Lease subject and subordinate to any mortgage, deed of trust or other lien presently existing or hereafter hereafter, provided it receives a non-disturbance agreement, arising upon the Premises, upon the Building or upon the Property Project as a whole, and to any renewals, refinancing refinancing, modifications and extensions thereof, but Tenant agrees that any such mortgagee shall have the right at any time to subordinate such mortgage, deed of trust or other lien to this Lease on such term terms and subject to such conditions as such mortgagee may deem appropriate in its discretionare reasonable. Landlord is hereby irrevocably vested with full power and authority to subordinate this Lease to any mortgage, deed of trust or other lien now existing or hereafter placed upon the Premises, the Building or the Property Project as a whole, and Tenant agrees upon demand to execute such further reasonable instruments subordinating this Lease (or such mortgage to this Lease) or attorning to the holder of any such liens as Landlord may request. In The terms of this Lease are subject to approval by the event that Tenant should fail Building’s permanent lender(s), and such approval is a condition precedent to execute any such instrument promptly as requested, Tenant hereby irrevocably constitutes Landlord as its attorney-in-fact to execute such instrument in Tenant's name, place and stead, it being agreed that such power is one coupled with an interestLandlord’s obligations hereunder. Tenant agrees that it will from time to time upon request by Landlord the execute and deliver to such persons as Landlord shall request requested a statement in recordable form certifying that this Lease is unmodified and in full force and effect (or if there have been modifications, that the same is in full force and effect as so modified), stating the dates to which rent and other charges payable under this Lease have been paid, stating that Landlord is not in default hereunder (or if Tenant alleges a default is alleged, stating the nature of such alleged default) and further stating such other matters as Landlord shall reasonably requirebe required.