Common use of Authorization Collateral Clause in Contracts

Authorization Collateral. To the fullest extent permitted by applicable law, Tenant hereby grants to Landlord a first priority security interest in, and lien upon, all Authorizations issued to, leased or licensed to, or held by, Tenant, including, but not limited to, Tenant’s interest in and rights under all Facility Provider Agreements, with respect to the Facilities (collectively, the “Authorization Collateral”) to secure the performance of all of Tenant’s obligations under this Lease, including, but not limited to, its obligation to engage in, assist with and facilitate any Operational Transfer. Tenant represents and warrants to Landlord that attached hereto on Schedule 7.3 is a detailed list and description of all of the Authorization Collateral. Notwithstanding anything contained herein to the contrary, Tenant shall not (under any circumstances) grant any lien upon, security interest in and to or otherwise pledge, encumber, hypothecate, transfer or assign, in whole or in part, the Authorization Collateral to any Person, irrespective of the priority of such security interest, pledge or hypothecation. The security interest and lien granted by this Section 7.3 shall be in addition to any lien of Landlord that may now or at any time hereafter be provided by law. The provisions of Section 21.1.1.1 below shall be applicable to the security interest and lien referenced in this Section 7.3.

Appears in 2 contracts

Samples: Master Lease Agreement (Emeritus Corp\wa\), Master Lease Agreement (Emeritus Corp\wa\)

AutoNDA by SimpleDocs

Authorization Collateral. To the fullest extent permitted by applicable law, Tenant hereby grants to Landlord a first priority security interest in, and lien upon, all Authorizations issued to, leased or licensed to, or held by, Tenant, including, but not limited to, Tenant’s 's interest in and rights under all Facility Provider Agreementslicenses, with respect to the Facilities (collectively, the “Authorization Collateral”"AUTHORIZATION COLLATERAL") to secure the performance of all of Tenant’s 's obligations under this Lease, including, but not limited to, its obligation to engage in, assist with and facilitate any Operational Transfer. Tenant represents and warrants to Landlord that attached hereto on Schedule SCHEDULE 7.3 is a detailed list and description of all of the Authorization Collateral. Notwithstanding anything contained herein to the contrary, Tenant shall not (under any circumstances) grant any lien upon, security interest in and to or otherwise pledge, encumber, hypothecate, transfer or assign, in whole or in part, the Authorization Collateral to any Person, irrespective of the priority of such security interest, pledge or hypothecation. The security interest and lien granted by this Section SECTION 7.3 shall be in addition to any lien of Landlord that may now or at any time hereafter be provided by law. The provisions of Section SECTION 21.1.1.1 below shall be applicable to the security interest and lien referenced in this Section SECTION 7.3.

Appears in 1 contract

Samples: Master Lease Agreement (Brookdale Senior Living Inc.)

Authorization Collateral. To the fullest extent permitted by applicable law, Tenant hereby grants to Landlord a first priority security interest in, and lien upon, all of Tenant’s right, title and interest in and to all of the Authorizations issued to, leased or licensed to, or held by, each Tenant, including, but not limited to, such Tenant’s interest in and rights under all Facility Provider Agreements, with respect to the Facilities and any CONs issued, leased or licensed to such Tenant (collectively, the “Authorization Collateral”) to secure the performance of all of Tenant’s obligations under this Lease, including, but not limited to, its obligation to engage in, assist with and facilitate any Operational Transfer. Tenant represents and warrants to Landlord that attached hereto on Schedule 7.3 is a detailed list and description of all of the Authorization Collateral. Notwithstanding anything contained herein to the contrary, Tenant shall not (under any circumstances) grant any lien upon, security interest in and to or otherwise pledge, encumber, hypothecate, transfer or assign, in whole or in part, the Authorization Collateral to any Person, irrespective of the priority of such security interest, pledge or hypothecation. The security interest and lien granted by this Section 7.3 shall be in addition to any lien of Landlord that may now or at any time hereafter be provided by law. The provisions of Section 21.1.1.1 below shall be applicable to the security interest and lien referenced in this Section 7.3.

Appears in 1 contract

Samples: Master Lease Agreement (Assisted Living Concepts Inc)

Authorization Collateral. To the fullest extent permitted by applicable law, Tenant hereby grants to Landlord a first priority security interest in, and lien upon, all Authorizations issued to, leased or licensed to, or held by, Tenant, including, but not limited to, Tenant’s 's interest in and rights under all Facility Provider Agreements, with respect to the Facilities (collectively, the "Authorization Collateral") to secure the performance of all of Tenant’s 's obligations under this Lease, including, but not limited to, its obligation to engage in, assist with and facilitate any Operational Transfer. Tenant represents and warrants to Landlord that attached hereto on Schedule 7.3 is a detailed list and description of all of the Authorization Collateral. Notwithstanding anything contained herein to the contrary, Tenant shall not (under any circumstances) grant any lien upon, security interest in and to or otherwise pledge, encumber, hypothecate, transfer or assign, in whole or in part, the Authorization Collateral to any Person, irrespective of the priority of such security interest, pledge or hypothecation. The security interest and lien granted by this Section 7.3 shall be in addition to any lien of Landlord that may now or at any time hereafter be provided by law. The provisions of Section 21.1.1.1 below shall be applicable to the security interest and lien referenced in this Section 7.3.

Appears in 1 contract

Samples: Master Lease Agreement (Capital Senior Living Corp)

AutoNDA by SimpleDocs

Authorization Collateral. To the fullest extent permitted by applicable law, Tenant hereby grants to Landlord a first priority security interest in, and lien upon, all Authorizations issued to, leased or licensed to, or held by, Tenant, including, but not limited to, Tenant’s interest in and rights under all Facility Provider Agreements, with respect to the Facilities (collectively, the “Authorization Collateral”) to secure the performance of all of Tenant’s obligations under this Lease, including, but not limited to, its obligation to engage in, assist with and facilitate any Operational Transfer. Tenant represents and warrants to Landlord that attached hereto on Schedule 7.3 is a detailed list and description of all of the Authorization Collateral. Notwithstanding anything contained herein to the contrary, Tenant shall not (under any circumstances) grant any lien upon, security interest in and to or otherwise Xxxxxxxxxxx Xxxxx pledge, encumber, hypothecate, transfer or assign, in whole or in part, the Authorization Collateral to any Person, irrespective of the priority of such security interest, pledge or hypothecation. The security interest and lien granted by this Section 7.3 shall be in addition to any lien of Landlord that may now or at any time hereafter be provided by law. The provisions of Section 21.1.1.1 below shall be applicable to the security interest and lien referenced in this Section 7.3.

Appears in 1 contract

Samples: Master Lease Agreement (Capital Senior Living Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.