Laserfiche WebLink
20 <br />4859-3312-3005v4 <br />remedied by Lender shall be deemed remedied upon Lender or its Nominee (as hereinafter <br />defined) acquiring Lessee’s interest in the Premises as provided in this Section. <br />(5) Lessor shall promptly provide estoppel certificates reasonably <br />requested by Lenders or Project investors. <br />(6) If the Lenders are prohibited, stayed or enjoined by any bankruptcy <br />or insolvency proceeding of any court, including without limitation a court having jurisdiction <br />over Lessee in such proceeding, from commencing or prosecuting foreclosure proceedings, the <br />times specified for commencing or prosecuting such foreclosure or other proceedings shall be <br />extended for the period of such prohibition; provided that any Lender shall have fully cured any <br />default in the payment of any monetary obligations of Lessee under this Lease, including without <br />limitation any monetary obligations to third parties which have become, or threaten to become, <br />liens against the Leased Premises or any portion thereof, and shall continue to pay currently such <br />monetary obligations when the same fall due; provided, further, that, subject to Paragraph (1) of <br />this Section 8.2(a), such Lender shall not interfere with Lessor’s efforts to seek compliance by <br />Lessee with any non-monetary obligation under this Lease. <br />(7) Lessor shall mail or deliver to any Lenders that have any <br />outstanding Approved Loans a duplicate copy of any notice which Lessor may deliver to Lessee <br />pursuant to this Lease, including any notice of default. Lessee shall deliver to Lessor the name <br />and contact information for all Lenders that have outstanding Approved Loans, including <br />successors in interest to Approved Loans. Provided Lessee (or Lender) has delivered Lessor the <br />name and contact information of the Lender having an outstanding Approved Loan, no notice of <br />default by Lessor to Lessee shall be effective as to that Lender unless and until a copy of the <br />notice shall have been mailed or delivered to such Lender as set forth in this Section. <br />(8) The foreclosure of an Approved Loan, any sale thereunder, <br />whether by judicial proceedings or by virtue of any power contained in the Leasehold Mortgage <br />securing the Approved Loan, or any conveyance of the Leasehold Estate created hereby from <br />Lessee to a Lender through or in lieu of foreclosure (a “Foreclosure Event”), shall not require the <br />consent of Lessor or constitute a breach of any provision of this Lease. In the event any Lender <br />or its Nominee (as defined herein) becomes Lessee under this Lease by such means or pursuant <br />to any new lease obtained under Paragraph (9) of this Section 8.2(a) below, Lessor shall <br />recognize the Lender or its Nominee as Lessee hereunder or under such new lease and the <br />Lender shall be personally liable under this Lease or such new lease only for the period of time <br />that the Lender or its Nominee remains Lessee thereunder, provided that the Lender or its <br />Nominee attorns to Lessor and agrees to be subject to the restrictions of this Lease. If a Lender <br />or its Nominee becomes the lessee under this Lease or any such new lease, the Lender shall have <br />the right thereafter to assign or sublease this Lease or such new lease one time, provided that any <br />assignee: (A) shall take the Leasehold Estate subject to all of the provisions of this Lease or such <br />new lease, and (B) shall assume and agree to perform all obligations of Lessee under this Lease. <br />Any further assignment shall be subject to the consent of Lessor, which consent shall not be <br />unreasonably withheld. Nothing in this Section shall be construed to obligate any Lender to <br />remedy any default of Lessee, and any failure of any Lender to complete any such cure after <br />commencing the same shall not give rise to any liability of any Lender to Lessor or Lessee. <br />Page 100 of 428