Automatic Subordination Sample Clauses
POPULAR SAMPLE Copied 59 times
Automatic Subordination. Without the necessity of any additional document being executed by Tenant for the purpose of effecting a subordination, and at the election of Landlord or Landlord’s Lender, this Lease shall be subject and subordinate at all times to (i) all ground leases or underlying leases which may now exist or hereafter be executed affecting the Premises, (ii) the lien of any mortgage or deed of trust which may now exist or hereafter be executed affecting the Premises, and (iii) the lien of any mortgage or deed of trust which may hereafter be executed in any amount for which the Premises, ground leases or underlying leases, or Landlord’s interest or estate in any of said items is specified as security. In the event that any ground lease or underlying lease terminates for any reason or pay mortgage or deed of trust is foreclosed or a conveyance in lieu of foreclosure is made for any reason, Tenant shall, notwithstanding any subordination, attorn to and become the Tenant of the successor in interest (including without limitation to Lender) to Landlord (“Successor”). In connection with any such termination of a ground lease or underlying lease or any foreclosure or conveyance in lieu of foreclosure made in connection with any mortgage or deed of trust and as a condition to the foregoing attornment by Tenant, then so long as Tenant is not in default after all applicable notice and cure periods pursuant to this Lease, Tenant shall not be disturbed in its possession of the Premises or in the enjoyment of its rights pursuant to this Lease during the Term of this Lease or any extension or renewal thereof. Notwithstanding any subordination of this Lease to the lien of any mortgage or deed of trust, the Lender, at any time, shall be entitled to subordinate the lien of its mortgage or deed of trust to this Lease by filing a notice of subordination in the County in which the Premises are located, and Lender shall agree in connection with any such filing, that Tenant shall not be disturbed in its possession of the Premises so long as Tenant is not in default pursuant to this Lease after applicable notice and cure periods, if any. In connection with any such filing, Tenant shall be obligated to attorn to and to become a Tenant of any Successor.
Automatic Subordination. Subject to Section 12.04 below, this Lease, and the rights of Tenant hereunder, shall be subordinate to the lien or liens of any mortgage or mortgages now or at any time hereafter in force with respect to the Building and to all advances made or hereafter to be made upon the security thereof. If requested by the holder of any such mortgage or mortgages, Tenant shall execute and deliver to such holder an instrument in form and substance satisfactory to such holder specifically subordinating this Lease to the lien of such mortgage or mortgages.
Automatic Subordination. Tenant agrees that this Lease shall be subject and subordinate to:
(a) The lien of any mortgages, deeds of trust, or other encumbrances (Encumbrances) of the Building and Real Property;
(b) All present and future ground or underlying leases (Underlying Leases) of the Building and Real Property now or hereafter in force against the Building and Real Property;
(c) All renewals, extensions, modifications, consolidations and replacements of the items described in subparagraphs (a) and (b); and
(d) All advances made or hereafter to be made on the security of the Encumbrances. Despite any other provision of this Article 22, any Encumbrance holder or lessor may elect that this Lease shall be senior to and have priority over that Encumbrance or Underlying Lease whether this Lease is dated before or after the date of the Encumbrance or Underlying Lease
Automatic Subordination. This Lease is subject and subordinate to the lien of any and all mortgages (which term "mortgages" shall include deeds of trust and similar security instruments) and ground or other underlying leases which may now or 60 hereafter encumber or otherwise affect the Land, the Building, or both, as well as the obligation to pay any and all renewals, extensions, modifications, recastings or refinancing thereof; provided, however, that in the event the mortgagee under any such mortgage, or ground lessor under any such ground lease, shall require this Lease to be superior and paramount to such mortgage or ground lease, Tenant agrees to execute and deliver any documents required for such purpose within five (5) business days after delivery of such documents to Tenant.
Automatic Subordination. This Lease, and the rights of Tenant hereunder, shall be subordinate to the lien or liens of any mortgage or mortgages now or at any time hereafter in force with respect to the Building, and to all advances made or hereafter to be made upon the security thereof. If requested by the holder of any such mortgage or mortgages, Tenant shall execute and deliver to such holder an instrument in form and substance that is customary in the industry specifically subordinating this Lease to the lien of such mortgage or mortgages. The foregoing subordination is hereby and shall be hereafter be subject to the limitation that Tenant’s use and occupancy of the Leased Premises shall not be disturbed so long as there is no uncured Event of Default hereunder.
Automatic Subordination. This Lease is subject and subordinate to all ground or underlying leases, and all deeds of trust, mortgages and security agreements which may now or later encumber the Office or the Project, any part thereof, or interest therein, and all modifications, extensions, renewals, consolidations and replacements thereof, regardless of the dates of such instruments. The provisions of the immediately preceding sentence shall be self-operative and no further instrument of subordination shall be required. Nevertheless, within 20 days after demand by Landlord, Tenant shall sign, acknowledge and deliver any instrument of subordination Landlord or its designee may reasonably require.
Automatic Subordination. This Lease is subject and subordinate to: (a) the lien of any mortgages, deeds of trust, or other encumbrances ("Encumbrances") of the Building and Project; (b) all present and future ground or underlying leases ("Underlying Leases") of the Building and the Project now or hereafter in force against the Building and the Project; (c) all renewals, extensions, modifications, consolidations, and replacements of the items described in clauses (a) and (b); and
Automatic Subordination. This Lease is subject and subordinate to: (a) the lien of any mortgages, deeds of trust, or other encumbrances ("Encumbrances") of the Building and Project; (b) all present and future ground or underlying leases ("Underlying Leases") of the Building and Project now or hereafter in force against the Building and Project; (c) all renewals, extensions, modifications, consolidations, and replacements of the items described in subparagraphs (a) - (b); and (d) all advances made or hereafter to be made on the security of the Encumbrances. Despite any other provision of this Article 21, any Encumbrance holder or lessor may elect that this Lease shall be senior to and have priority over that Encumbrance or Underlying Lease whether this Lease is dated before or after the date of the Encumbrance or Underlying Lease. No such subordination shall be effective unless and until Tenant has received a non disturbance agreement from the holder of the Encumbrance or the lessor of the Underlying Lease in a recordable, commercially reasonable form.
Automatic Subordination. Subject to the provisions of Part III, Section 23.2, this Lease shall be subject and subordinate to the following:
(a) All present and future liens of any mortgages, deeds of trust and, other encumbrances (“Encumbrances”) of the Leased Premises and the Project;
(b) All ground or underlying leases (“Underlying Leases”) now or hereafter in force against the Project or any portion thereof;
(c) All renewals, extensions, modifications, consolidations, and replacements of the items described in items (a) and (b) of this Section 23.1; and
(d) All advances made or hereafter to be made on the security of the Encumbrances. Despite any other provision of this Article 23, any Encumbrance holder or lessor of an Underlying Lease may elect that this Lease shall be senior to and have priority over that Encumbrance or Underlying Lease whether this Lease is dated before or after the date of the Encumbrance or Underlying Lease.
Automatic Subordination. This Lease is and shall be subordinate to any encumbrance now of record or recorded after the date of this Lease affecting the Building or the real property on which the Building is located. This subordination is effective without any further act of either Landlord or Tenant, and Tenant shall execute and deliver such documents as Landlord deems necessary to effectuate the intent of this paragraph.