Common use of Lease Subordination Clause in Contracts

Lease Subordination. This Lease shall be subject and subordinate to any mortgage now or hereafter on the Lot or Building or the Property, and to each advance made or hereafter to be made under any mortgage, and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor. This provision shall be self-operative and no further instrument of subordination shall be required. In confirmation of such subordination, Tenant shall execute and deliver promptly any certificate that Landlord or any mortgagee may request. In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then, at the option of such mortgagee or successor, this Lease shall nevertheless continue in full force and effect and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its Landlord. Any mortgagee may subordinate its mortgage to this lease, without ▇▇▇▇▇▇’s consent, by notice in writing to Tenant. Thereupon this lease shall be deemed to be prior in lien to such mortgage or deed of trust without regard to their respective dates of execution and delivery but to have been assigned by Landlord to such mortgagee. Within ten (10) days of execution and delivery of this Lease by the Tenant, Landlord will cause its mortgage lender (East Boston Savings Bank) to execute and deliver an SNDA in form reasonably acceptable to such lender