Notwithstanding the terms of any Lease made on or after the Effective Date, each Lease is subordinate to this Security Instrument and each Tenant shall, if Agent elects, execute an instrument (in form and substance acceptable to Agent in its sole discretion) subordinating the Tenant's leasehold interest to Agent's liens and security interests. No Leases may, unless Agent specifically agrees in writing, impose obligations upon Agent or any Transferee prior to or following a Transfer Event.