Subordination Clause Example with 18 Variations from Business Contracts
This page contains Subordination clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Subordination. 28.1 EFFECT OF SUBORDINATION. This Lease shall be subject and subordinate to any ground lease, mortgage, deed of trust or any other hypothecation or security now or hereafter placed upon the Project and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Tenant's right to quiet possession of the Premises shall not be disturbed if Tenant is not in default and so long as Te...nant shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. At the request of any mortgagee, trustee or ground lessor, Tenant shall attorn to such person or entity. If any mortgagee, trustee or ground lessor shall elect to have this Lease and any Options granted hereby prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Tenant, this Lease and such Options shall be deemed prior to such mortgage, deed of trust or ground lease, whether this Lease or such Options are dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof. In the event of the foreclosure of a security device, the new owner shall not (a) be liable for any act or omission of any prior landlord or with respect to events occurring prior to its acquisition of title, (b) be liable for the breach of this Lease by any prior landlord, (c) be subject to any offsets or defenses which Tenant may have against the prior landlord or (d) be liable to Tenant for the return of its security deposit. 28.2 EXECUTION OF DOCUMENTS. Tenant agrees to execute and acknowledge any documents Landlord reasonably requests that Tenant execute to effectuate an attornment, a subordination, or to make this Lease or any Option granted herein prior to the lien of any mortgage, deed of trust or ground lease, as the case may be, provided that any such instrument shall recognize Tenant's rights under this Lease. Tenant's failure to execute such documents within ten (10) business days after written demand shall constitute a material default by Tenant hereunder. 23 28.3 SUBORDINATION BY TENANT. As of the date set forth in Section 1.1 above, no mortgages or deeds of trust encumber Landlord's interest in the Project. Notwithstanding anything to the contrary contained in the Lease, Tenant shall not be obligated to subordinate its interest in the Lease to a future mortgage or deed of trust obtained by Landlord unless the lender provides Tenant with a commercially reasonable nondisturbance agreement.View More
Variations of a "Subordination" Clause from Business Contracts
Subordination. 28.1 EFFECT OF SUBORDINATION. This Lease Lease, and any Option granted hereby, at Landlord's option, shall be subject and subordinate to any ground lease, mortgage, deed of trust trust, or any other hypothecation or security now or hereafter placed upon the Project Gateway Plaza and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Tenant's right to quiet possession of ...the Premises shall not be disturbed if Tenant is not in default and so long as Tenant shall pay the rent Rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. At the request of terms, if any mortgagee, trustee or ground lessor, Tenant shall attorn to such person or entity. If any mortgagee, trustee or ground lessor Landlord shall elect to have this Lease and any Options granted hereby prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Tenant, this Lease and such Options shall be deemed prior to such mortgage, deed of trust or ground lease, whether this Lease or such Options are dated prior to or subsequent to the date of said mortgage, deed of trust or trust, or ground lease or the date of recording thereof. In the event of the foreclosure of a security device, the new owner shall not (a) be liable for any act or omission of any prior landlord or with respect to events occurring prior to 28.2 Tenant, at its acquisition of title, (b) be liable for the breach of this Lease by any prior landlord, (c) be subject to any offsets or defenses which Tenant may have against the prior landlord or (d) be liable to Tenant for the return of its security deposit. 28.2 EXECUTION OF DOCUMENTS. Tenant sole cost and expense, agrees to execute and acknowledge any documents Landlord reasonably requests that Tenant execute required to effectuate an attornment, a subordination, subordination or to make this Lease or any Option granted herein prior to the lien of any mortgage, deed of trust or ground lease, as the case may be, provided that any such instrument shall recognize Tenant's rights under this Lease. whether precipitated by Landlord or a proposed transferee of Landlord. Tenant's failure to execute such documents within ten (10) business days after written demand shall constitute a material default by Tenant hereunder. 23 28.3 SUBORDINATION BY TENANT. As hereunder without further notice to Tenant or, at Landlord's option, Landlord shall execute such documents on behalf of Tenant as Tenant's attorney-in-fact. Tenant does hereby make, constitute, and irrevocably appoint Landlord as Tenant's attorney-in-fact and in Tenant's name, place and stead, to execute such documents in accordance with this Paragraph 28.2. 33 29. ATTORNEYS' FEES. If either party named herein brings an prevailing party in any such action, on trial or appeal, shall be entitled to his reasonable attorneys' fees to be paid by the date set forth in Section 1.1 above, no mortgages or deeds of trust encumber Landlord's interest in losing party as fixed by the Project. Notwithstanding anything to the contrary contained in the Lease, Tenant shall not be obligated to subordinate its interest in the Lease to a future mortgage or deed of trust obtained by Landlord unless the lender provides Tenant with a commercially reasonable nondisturbance agreement. court. View More
Subordination. 28.1 EFFECT OF SUBORDINATION. This Lease shall be subject and subordinate to any ground lease, mortgage, deed of trust trust, or any other hypothecation or security interest now or hereafter placed upon the Project real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Tenant's right to quiet enjoyment and possession of the ...Premises shall not be disturbed if Tenant is not in default Material Default, and so long as Tenant shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. At the request of any mortgagee, trustee or ground lessor, Tenant shall attorn to such person or entity. Lease. If any mortgagee, trustee or ground lessor landlord shall elect to have this Lease and any Options granted hereby prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice Notice thereof to Tenant, this Lease and such Options shall be deemed prior to such mortgage, deed of trust trust, or ground lease, whether this Lease or such Options are is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease lease, or the date of recording thereof. In the event of the foreclosure of a security device, the new owner shall not (a) be liable for any act or omission of any prior landlord or with respect to events occurring prior to its acquisition of title, (b) be liable for the breach of this Lease by any prior landlord, (c) be subject to any offsets or defenses which Tenant may have against the prior landlord or (d) be liable to Tenant for the return of its security deposit. 28.2 EXECUTION OF DOCUMENTS. Tenant agrees to execute and acknowledge any such documents Landlord reasonably requests that Tenant execute necessary to effectuate an attornment, a attornment or subordination, or to make this Lease or any Option granted herein prior to the lien of any mortgage, deed of trust or ground lease, as the case may be, provided that such documents do not otherwise attempt to amend, modify or alter any such instrument shall recognize Tenant's rights under provision of this Lease. Tenant's failure Tenant shall respond to execute such documents document request within ten (10) business days after written demand shall constitute a material default by Tenant hereunder. 23 28.3 SUBORDINATION BY TENANT. As receipt of the date set forth in Section 1.1 above, no mortgages or deeds of trust encumber Landlord's interest in the Project. Notwithstanding anything to the contrary contained in the Lease, Tenant shall not be obligated to subordinate its interest in the Lease to a future mortgage or deed of trust obtained by Landlord unless the lender provides Tenant with a commercially reasonable nondisturbance agreement. Notice therefor. View More
Subordination. 28.1 EFFECT OF SUBORDINATION. 25.1 This Lease Lease, at Landlord's option, shall be subject and subordinate to the lien of any ground lease, mortgage, deed of trust trust, or any other hypothecation or security now or hereafter placed upon the Project Building or Site and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Tenant's interest under this Lease and right to q...uiet possession of the Premises shall not be disturbed if Tenant is not in default beyond any applicable notice and so long as Tenant shall pay the rent and observe and perform all of the provisions of this Lease, cure period, unless this Lease is otherwise terminated pursuant to its terms. At the request of any mortgagee, trustee or ground lessor, Tenant shall attorn to such person or entity. If any mortgagee, trustee or ground lessor shall elect to have this Lease and any Options options granted hereby prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Tenant, this Lease and such Options option(s) shall be deemed prior to such mortgage, deed of trust or ground lease, whether this Lease or such Options options are dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof. In Not later than thirty (30) days after the Effective Date, Landlord shall deliver from any lenders or ground lessors of the Premises a written agreement in form reasonably satisfactory to Tenant providing for recognition of Tenant's interests under this Lease in the event of the a foreclosure of a the lender's security device, interest or termination of the new owner shall not (a) be liable for any act or omission of any prior landlord or with respect to events occurring prior to its acquisition of title, (b) be liable for ground lease. Further, notwithstanding the breach foregoing, the subordination of this Lease by to a ground lease or instrument of security shall be conditioned upon Tenant's receipt from any prior landlord, (c) be subject to any offsets such ground lessors or defenses which Tenant may have against the prior landlord or (d) be liable to Tenant for the return lenders of its security deposit. 28.2 EXECUTION OF DOCUMENTS. such a recognition agreement. 41 25.2 Tenant agrees to execute and acknowledge any commercially reasonable documents Landlord reasonably requests that Tenant execute required to effectuate an attornment, a subordination, or to make this Lease or any Option granted herein prior to the lien of any mortgage, deed of trust or ground lease, as the case may be, provided that any such instrument shall recognize Tenant's rights under this Lease. Tenant's failure to execute such documents be within ten (10) business days after written demand shall constitute a material default by Tenant hereunder. 23 28.3 SUBORDINATION BY TENANT. As of the date set forth in Section 1.1 above, no mortgages or deeds of trust encumber Landlord's interest in the Project. Notwithstanding anything to the contrary contained in the Lease, Tenant shall not be obligated to subordinate its interest in the Lease to a future mortgage or deed of trust obtained by Landlord unless the lender provides Tenant with a commercially reasonable nondisturbance agreement. demand. View More
Subordination. 28.1 EFFECT OF SUBORDINATION. This Lease Lease, at Landlord's option, shall be subject and subordinate to any ground lease, mortgage, deed of trust trust, or any other hypothecation or security now or hereafter placed upon the Project Buildings and/or Pineland and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Tenant's right to quiet possession of the Leased Premises... shall not be disturbed if Tenant is not in default and so long as Tenant shall pay the rent Rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. At the request of any mortgagee, trustee or ground lessor, Tenant shall attorn to such person or entity. If any mortgagee, trustee trustee, or ground lessor shall elect to have this Lease and any Options granted hereby made prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Tenant, this Lease and such Options shall be deemed prior to such mortgage, deed of trust trust, or ground lease, whether this Lease or such Options are is dated prior to or subsequent to the date of said mortgage, deed of trust trust, or ground lease or the date of recording thereof. In the event of the foreclosure of a security device, the new owner shall not (a) be liable for any act or omission of any prior landlord or with respect to events occurring prior to its acquisition of title, (b) be liable for the breach of this Lease by any prior landlord, (c) be subject to any offsets or defenses which Tenant may have against the prior landlord or (d) be liable to Tenant for the return of its security deposit. 28.2 EXECUTION OF DOCUMENTS. Tenant agrees to execute and acknowledge any documents Landlord in a form reasonably requests that acceptable to Tenant execute as are required to effectuate an attornment, a subordination, subordination or to make this Lease or any Option granted herein prior to the lien of any mortgage, deed of trust or ground lease, as the case may be, provided that any such instrument shall recognize Tenant's rights under this Lease. Tenant's failure to execute such documents within ten (10) business days after written demand shall constitute a material default by Tenant hereunder. 23 28.3 SUBORDINATION BY TENANT. As of the date set forth in Section 1.1 above, no mortgages or deeds of trust encumber Landlord's interest in the Project. Notwithstanding anything to the contrary contained in the Lease, Tenant shall not be obligated to subordinate its interest in the Lease to a future mortgage or deed of trust obtained by Landlord unless the lender provides Tenant with a commercially reasonable nondisturbance agreement. be. View More
Subordination. 28.1 EFFECT OF SUBORDINATION. 28.1Effect of Subordination. This Lease Lease, and any Option (as defined below) granted hereby, upon Landlord's written election, shall be subject and subordinate to any ground lease, mortgage, deed of trust or any other hypothecation or security now or hereafter placed upon the Project and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination,... Tenant's right to quiet possession of the Premises shall not be disturbed if Tenant is not in material default of this Lease beyond any applicable notice and cure period, and so long as Tenant shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. At the request of any mortgagee, trustee or ground lessor, Tenant shall attorn to such person or entity. If any mortgagee, trustee or ground lessor shall elect to have this Lease and any Options granted hereby prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Tenant, this Lease and such Options shall be deemed prior to such mortgage, deed of trust or ground lease, whether this Lease or such Options are dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof. In the event of the foreclosure of a security device, the new owner shall not (a) be liable for any act or omission of any prior landlord or with respect to events occurring prior to its acquisition of title, except that the new owner shall cure any default of Landlord that is continuing as of the date of the foreclosure within [*] from the date Tenant delivers written notice to the new owner of such continuing default, unless such default is of such a nature to reasonably require more than [*] to cure and then the new owner shall be permitted such additional time as is reasonably necessary to effect such cure, provided such new owner diligently and continuously proceeds to cure such default , (b) be liable for the breach of this Lease by any prior landlord, (c) be subject to any offsets or defenses which Tenant may have against the prior landlord or (d) be liable to Tenant for the return of its any security deposit. 28.2 EXECUTION OF DOCUMENTS. deposit not actually received by such new owner or to the extent any portion of such security deposit has not already been forfeited by, or returned to, Tenant. 28.2Execution of Documents. Tenant agrees to execute and acknowledge any documents Landlord reasonably requests that Tenant execute to effectuate an attornment, a subordination, or to make this Lease or any Option granted herein prior to the lien of any mortgage, deed of trust or ground lease, as the case may be, provided that any such instrument shall recognize Tenant's rights under this Lease. be. Tenant's failure to execute such documents within ten (10) business days after written demand shall constitute a material default by Tenant hereunder. 23 28.3 SUBORDINATION BY TENANT. Tenant does hereby make, constitute and irrevocably appoint Landlord as Tenant's attorney-in-fact and in Tenant's name, place and stead to execute such documents in accordance with this section. 28.3Subordination by Tenant. As of the date set forth in Section 1.1 above, no mortgages or deeds of trust encumber Landlord's interest in the Project. Notwithstanding anything to the contrary contained in the Lease, Tenant shall not be obligated to subordinate its interest in the Lease to a future mortgage or deed of trust obtained by Landlord unless the lender provides Tenant with a commercially reasonable nondisturbance agreement. View More
Subordination. 28.1 26.1 EFFECT OF SUBORDINATION. Landlord represents to Tenant that the Premises are not currently subject to any ground lease, or to the lien of any mortgage or deed of trust. This Lease Lease, and any Option (as defined below) granted hereby, upon Landlord's written election, shall be subject and subordinate to any ground lease, mortgage, deed of trust trust, or any other hypothecation or security now or hereafter placed upon the Project Premises and to any and all advances made on the secur...ity thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such The subordination of this Lease to any future ground lease or to the lien of any mortgage or deed of trust shall be subject to Tenant's receipt of a commercially reasonable subordination, non-disturbance and attornment agreement in favor of Tenant providing that Tenant's right to quiet possession of the Premises shall not be disturbed if Tenant is not in default and so long as Tenant shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. At the request of any mortgagee, trustee or ground lessor, Tenant shall attorn to such person or entity. If any mortgagee, trustee or ground lessor shall elect to have this Lease and any Options granted hereby prior to the lien of its mortgage, deed of trust or 30 ground lease, and shall give written notice thereof to Tenant, this Lease and such Options shall be deemed prior to such mortgage, deed of trust or ground lease, whether this Lease or such Options are dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof. In the event of the foreclosure of a security device, the new owner shall not (a) be liable for any act or omission of any prior landlord or with respect to events occurring prior to its acquisition of title, (b) be liable for the breach of this Lease by any prior landlord, (c) be subject to any offsets or defenses which Tenant may have against the prior landlord or (d) be liable to Tenant for the return of its security deposit. 28.2 deposit, except to the extent actually received. 26.2 EXECUTION OF DOCUMENTS. Tenant agrees to execute and acknowledge any documents Landlord reasonably requests that Tenant execute to effectuate an attornment, a subordination, or to make this Lease or any Option granted herein prior to the lien of any mortgage, deed of trust or ground lease, as the case may be, provided that any such instrument shall recognize Tenant's rights under this Lease. be. Tenant's failure to execute such documents within ten (10) business days after written demand shall constitute a material default by Tenant hereunder. 23 28.3 SUBORDINATION BY TENANT. As hereunder or, at Landlord's option, Landlord shall have the right to execute such documents on behalf of the date set forth Tenant as Tenant's attorney-in-fact. Tenant does hereby make, constitute and irrevocably appoint Landlord as Tenant's attorney-in-fact and in Section 1.1 above, no mortgages or deeds of trust encumber Landlord's interest Tenant's name, place and stead to execute such documents in the Project. Notwithstanding anything to the contrary contained in the Lease, Tenant shall not be obligated to subordinate its interest in the Lease to a future mortgage or deed of trust obtained by Landlord unless the lender provides Tenant accordance with a commercially reasonable nondisturbance agreement. this section. View More
Subordination. 28.1 EFFECT OF SUBORDINATION. Effect of Subordination. This Lease Lease, and any Option (as defined below) granted hereby, upon Landlord's written election, shall be subject and subordinate to any ground lease, mortgage, deed of trust or any other hypothecation or security now or hereafter placed upon the Project and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Ten...ant's right to quiet possession of the Premises shall not be disturbed if Tenant is not in default and so long as Tenant shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. At the request of any mortgagee, trustee or ground lessor, Tenant shall attorn to such person or entity. If any mortgagee, trustee or ground lessor shall elect to have this Lease and any Options granted hereby prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Tenant, this Lease and such Options shall be deemed prior to such mortgage, deed of trust or ground lease, whether this Lease or such Options are dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof. In the event of the foreclosure of a security device, the new owner shall not (a) be liable for any act or omission of any prior landlord or with respect to events occurring prior to its acquisition of title, (b) be liable for the breach of this Lease by any prior landlord, (c) be subject to any offsets or defenses which Tenant may have against the prior landlord or (d) be liable to Tenant for the return of its security deposit. 28.2 EXECUTION OF DOCUMENTS. Execution of Documents. Tenant agrees to execute and acknowledge any documents Landlord reasonably requests that Tenant execute to effectuate an attornment, a subordination, or to make this Lease or any Option granted herein prior to the lien of any mortgage, deed of trust or ground lease, as the case may be, provided that any such instrument shall recognize Tenant's rights under this Lease. be. Tenant's failure to execute such documents within ten (10) business days after written demand shall constitute a material default by Tenant hereunder. 23 28.3 SUBORDINATION BY TENANT. As hereunder or, at Landlord's option, Landlord shall have the right to execute such documents on behalf of the date set forth Tenant as Tenant's attorney-in-fact. Tenant does hereby make, constitute and irrevocably appoint Landlord as Tenant's attorney-in-fact and in Section 1.1 above, no mortgages or deeds of trust encumber Landlord's interest Tenant's name, place and stead to execute such documents in the Project. Notwithstanding anything to the contrary contained in the Lease, Tenant shall not be obligated to subordinate its interest in the Lease to a future mortgage or deed of trust obtained by Landlord unless the lender provides Tenant accordance with a commercially reasonable nondisturbance agreement. this section. View More
Subordination. 28.1 24.1 EFFECT OF SUBORDINATION. This Lease Lease, and any Option granted hereby, upon Landlord's written election, shall be subject and subordinate to any ground lease, mortgage, deed of trust trust, or any other hypothecation or security now or hereafter placed upon the Project and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Tenant's right to quiet possession ...of the Premises shall not be disturbed if Tenant is not in default and so long as Tenant shall pay the rent and observe and perform all of the provisions of this Lease, unless this Lease is otherwise terminated pursuant to its terms. At the request of any mortgagee, trustee or ground lessor, Tenant shall attorn to such person or entity. If any mortgagee, trustee or ground lessor shall elect to have this Lease and any Options granted hereby prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Tenant, this Lease and such Options shall be deemed prior to such mortgage, deed of trust or ground lease, whether this Lease or such Options are dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof. In the event of the foreclosure of a security device, the new owner shall not (a) be liable for any act or omission of any prior landlord or with respect to events occurring prior to its acquisition of title, (b) be liable for the breach of this Lease by any prior landlord, (c) be subject to any offsets or defenses which Tenant may have against the prior landlord or (d) be liable to Tenant for the return of its security deposit. 28.2 24.2 EXECUTION OF DOCUMENTS. Tenant agrees to execute and acknowledge any commercially reasonable documents Landlord reasonably requests that Tenant execute to effectuate an attornment, a subordination, or and non-disturbance to make this Lease or any Option granted herein prior to the lien of any mortgage, deed of trust or ground lease, as the case may be, provided that any such instrument shall recognize Tenant's rights under this Lease. Tenant's failure to execute such documents within ten (10) business days after written demand shall constitute a material default by Tenant hereunder. 23 28.3 SUBORDINATION BY TENANT. As of the date set forth in Section 1.1 above, no mortgages or deeds of trust encumber Landlord's interest in the Project. Notwithstanding anything to the contrary contained in the Lease, Tenant shall not be obligated to subordinate its interest in the Lease to a future mortgage or deed of trust obtained by Landlord unless the lender provides Tenant with a commercially reasonable nondisturbance agreement. be. View More
