Common use of MORTGAGES AND ENCUMBRANCES Clause in Contracts

MORTGAGES AND ENCUMBRANCES. In the event the Leased Premises are encumbered by a prior mortgage, ▇▇▇▇▇▇ shall not have the right to suspend payment of any moneys due hereunder solely due to such prior mortgage, unless the prior mortgage is subject to a foreclosure action. ▇▇▇▇▇▇, however, shall have the right to obtain, at its own expense, a subordination of such mortgage and ▇▇▇▇▇▇ agrees to cooperate in securing any subordinations of prior mortgages.

MORTGAGES AND ENCUMBRANCES. In the event the Leased Premises are encumbered by a prior mortgage, ▇▇▇▇▇▇ shall not have the right to suspend payment of any moneys due hereunder solely due to such prior mortgage, unless the prior mortgage is subject to a foreclosure actionhereunder. ▇▇▇▇▇▇, however, shall have the right to obtain, at its own expense, a subordination of such mortgage and ▇▇▇▇▇▇ agrees to cooperate in securing any subordinations of prior mortgagesmortgage.