Common use of Covenant of Lessor Clause in Contracts

Covenant of Lessor. Lessor hereby covenants and agrees that Lessor will not permit or suffer to exist any lien, claim, liability or other encumbrance on or against the Equipment by, to or of any person or entity claiming through Lessor, which impairs Lessee's rights to quiet enjoyment or purchase option under this Lease, except to the extent attributable to any Event of Default by Lessee. Lessor shall and shall be entitled to a reasonable opportunity to cure, contest or defend against any such lien, claim, liability or other encumbrance.

Appears in 2 contracts

Samples: Master Lease Agreement (International Thoroughbred Breeders Inc), Master Lease Agreement (International Thoroughbred Breeders Inc)

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Covenant of Lessor. Lessor hereby covenants and agrees that Lessor will not permit or suffer to exist any lien, claim, liability or other encumbrance on or against the Equipment by, to or of any person or entity claiming through Lessor, which impairs Lessee's rights to quiet enjoyment or the purchase option under this Lease, except to the extent attributable to any Event of Default by Lessee. Lessor shall and shall be entitled to a reasonable opportunity to cure, contest or defend against any such lien, claim, liability or other encumbrance.

Appears in 2 contracts

Samples: Master Lease Agreement (International Thoroughbred Breeders Inc), Master Lease Agreement (International Thoroughbred Breeders Inc)

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