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202302265
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Last modified
5/9/2023 2:12:39 PM
Creation date
5/9/2023 2:10:13 PM
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DEEDS
Inst Number
202302265
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202302265 <br />1. Definitions. The following terms shall have the following meanings for purposes <br />of this Agreement: <br />1.1 Foreclosure Event. A "Foreclosure Event" means: (a) foreclosure under the <br />Mortgage; (b) any other exercise by Lender of rights and remedies (whether under the Mortgage <br />or under applicable law, including bankruptcy law) as holder of the Loan and/or the Mortgage, as <br />a result of which Successor Landlord becomes owner of the Shopping Center; or (c) delivery by <br />Landlord to Lender (or its designee or nominee) of a deed or other conveyance of Landlord's <br />interest in the Shopping Center in lieu of any of the foregoing. <br />1.2 Former Landlord. A "Former Landlord" means Landlord and any other party <br />that was landlord under the Lease at any time before the occurrence of any attornment under this <br />Agreement. <br />1.3 Offset Right. An "Offset Right" means any right or alleged right of Tenant to <br />any offset, defense (other than one arising from actual payment and performance, which payment <br />and performance would bind a Successor Landlord pursuant to this Agreement), claim, <br />counterclaim, reduction, deduction, or abatement against Tenant's payment of Rent or <br />performance of Tenant's other obligations under the Lease, arising (whether under the Lease or <br />under applicable law) from Landlord's breach or default under the Lease. <br />1.4 Rent. The "Rent" means all sums payable by Tenant under the Lease, whether or <br />not stated to be Base Rent or Additional Rent (as such terms are defined by the Lease) or <br />otherwise denominated as Rent. <br />1.5 Successor Landlord. A "Successor Landlord" means any party that becomes <br />owner of the Shopping Center as the result of a Foreclosure Event. <br />1.6 Termination Right. A "Termination Right" means any right of Tenant to <br />cancel or terminate the Lease or to claim a partial or total eviction arising (whether under the <br />Lease or under applicable law) from Landlord's breach or default under the Lease; except that <br />said term expressly excludes any right of Tenant to terminate the Lease which may be exercised <br />by Tenant prior to the Rent Commencement Date. <br />1.7 Other Capitalized Terms. If the initial letter of any other term used in this <br />Agreement is capitalized and no separate definition is contained in this Agreement, then such <br />term shall have the same respective definition as set forth in the Lease. <br />2. Subordination. Subject to the terms of this Agreement, on condition that all of Tenant's <br />rights under the Lease shall not be impaired or disturbed, the Lease shall be, and shall at all times <br />remain, subject and subordinate to the lien imposed by the Mortgage and all advances made <br />thereunder. <br />3. Non -disturbance, Recognition and Attornment. <br />3.1 No Exercise of Mortgage Remedies Against Tenant. So long as no Event of <br />Default of Tenant's obligation to pay Rent exists under the Lease, beyond the expiration of all <br />applicable notice and cure rights, Lender shall not name or join Tenant as a defendant in any <br />
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