City Lien Sample Clauses

City Lien. Tenant hereby grants to City a lien upon and security interest in all fixtures, chattels and personal property of every kind now or hereafter to be placed or installed in or on the Premises, and agrees that in the event of any default on the part of Tenant City has all the rights and remedies afforded the secured party by the chapter on “Default” of the Uniform Commercial Code in the state wherein the Premises are located on the date of this Lease and may, in connection therewith, also (a) enter on the Premises to assemble and take possession of the collateral, (b) require Tenant to assemble the collateral and make its possession available to the City at the Premises, (c) enter the Premises, render the collateral, if equipment, unusable and dispose of it in a manner provided by the Uniform Commercial Code on the Premises. Tenant agrees to execute such instruments as City may request to perfect such lien, and designates also Director his attorney-in-fact for purposes of executing such documents.
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City Lien. The City shall have a lien against all Property of Lessee kept on or at the Premises at any time during the Term and the Required Capital Improvements, in the aggregate amount of all Rent, damages and the sums that may at any time be owed by Lessee to the City under this Lease. The City, in the event of any default by Lessee, may foreclose the lien. In that event, Lessee shall be obligated for all court costs and reasonable attorney(s) fee(s). 1) On the date the Loan is obtained by Lessee, the City’s lien against all Property and the Required Capital Improvements will automatically subordinate (without the need for further memorialization) to Commercial Bank, a Tennessee banking corporation (“Lender”) as collateral to secure repayment of the loan (and associated obligations) (“Loan”) that the Lender is making to Lessee for the purpose of financing the Required Capital Improvements. The total amount of such Loan shall not exceed $30,000,000 or the cost of the Required Capital Improvements, whichever is less and excluding any amount required to be held in an escrow account pursuant to an escrow agreement between Lessee and the Lender. In the event that a termination fee is owed pursuant to paragraph 14, the amount of the termination fee will be reduced by the amount in the escrow account. The Loan will initially be for a term of four years and six months amortized over three hundred (300) months (the maturity date of such initial term shall be the “Loan Expiration Date”) and in the form of a traditional construction loan. Lessee will only pay interest on the outstanding balance on the Loan for the first thirty-six (36) months and thereafter Lessee will be responsible for paying principal and interest on the outstanding balance on the Loan during this initial term. Lessee may request draws from the Lender to cover its costs and expenses for the Required Capital Improvements. The amount of the draws dispersed to Lessee from the Lender shall not exceed the actual costs for the Required Capital Improvements at the Premises. Provided the City and Lessee enter into a new lease in accordance with the requirements set forth in subparagraph 5.B by the Loan Expiration Date, the Loan will be extended for another term of four years and six months amortized over three hundred (300) months from the date the Loan was originally obtained (i.e., the Loan obtain pursuant to this Lease). Lessee will be responsible for paying principal and interest on the outstanding balance on...
Sample 1

Related to City Lien

  • ASSOCIATION SECURITY 5.01 The Hospital will deduct from each nurse covered by this Agreement an amount equal to the regular monthly Association dues designated by the Association. The deduction period for a part-time nurse may be extended where the nurse does not receive any pay in a particular month. Where a nurse has no dues deducted during the payroll period from which dues are normally deducted, that deduction shall be made in the next payroll period provided the nurse has earnings in the next payroll period. If the failure to deduct dues results from an error by the Hospital, then, as soon as the error is called to its attention by the union, the Hospital shall make the deduction in the manner agreed to by the parties. If there is no agreement, the Hospital shall make the deduction in the manner prescribed by the union. 5.02 Such dues shall be deducted monthly and in the case of newly employed nurses, such deductions shall commence in the month following their date of hire. 5.03 The amount of the regular monthly dues shall be those authorized by the Association and the Vice-President, Finance of the Association shall notify the Hospital of any changes therein and such notification shall be the Hospital's conclusive authority to make the deduction specified. In the case of any local dues levies, notification will be made by the local treasurer and such notification shall be the Hospital’s conclusive authority to make the deduction specified. 5.04 In consideration of the deducting and forwarding of Association dues by the Hospital, the Association agrees to indemnify and save harmless the Hospital against any claims or liabilities arising or resulting from the operation of this Article. 5.05 The amounts so deducted shall be remitted monthly to the Vice-President, Finance of the Association, no later than the end of the month following the month in which the dues were deducted. In remitting such dues, the Hospital shall provide a list of nurses from whom deductions were made, their work site (if the bargaining unit covers more than one site) and the nurses’ social insurance numbers, amount of dues deducted and, where feasible, the Hospital shall also provide the job classification, and status of the nurses. The list shall also include deletions and additions from the preceding month highlighting new hires, resignations, terminations, new unpaid leave of absence of greater than one (1) month and returns from leaves of absence. A copy of this list will be sent concurrently to the local Association. Where the parties agree, the Hospital may also provide the information in an electronic format or on a computer disk. If the central parties are able to agree on a template for dues related information, it will be distributed and jointly recommended to the Hospitals. 5.06 The Hospital agrees that an officer of the Association or Union representative shall be allowed a reasonable period during regular working hours to interview newly hired nurses during their probationary period. During such interview, membership forms may be provided to the nurse. These interviews shall be scheduled in advance as determined by local negotiation and may be arranged collectively or individually by the Hospital. NOTE: The list provided for in Article 5.05 shall include any other information that is currently provided to ONA. Additionally, the Hospital will provide each nurse with a T-4 Supplementary Slip showing the dues deducted in the previous year for income tax purposes where such information is or becomes readily available through the Hospital's payroll system.

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