Common use of Equipment Leasing Clause in Contracts

Equipment Leasing. Some of the equipment, fixtures and furniture (collectively designated herein as “Trade Equipment”) now or hereafter installed and used by Tenant on the Property may be directly financed by a third-party lender or otherwise subjected to a security interest or owned by an equipment rental company (“Equipment Lessor”) and leased to Tenant either directly from the Equipment Lessor or by way of equipment sublease or assignment of equipment lease from an equipment sublessor (“Equipment Sublessor”), and Landlord hereby agrees to recognize the rights therein of any such third-party lender or Equipment Lessor or Sublessor (or assignee). Landlord agrees that all such items of financed or leased Trade Equipment installed or to be installed on the Property shall be and remain personal property and not real property, notwithstanding the fact that the same may be nailed or screwed or otherwise attached or affixed to the Property or improvements, and further agrees to recognize the rights therein of any such third-party lender or Equipment Lessor or Sublessor (or assignee). Tenant shall have the right at any time to remove or replace any or all Trade Equipment, whether or not financed or leased, regardless of whether attached or affixed to the Property, and to the extent of their respective interests therein such third-party lender or Equipment Lessor or Sublessor (or assignee) shall also have such a right. Except as otherwise provided in Subsection 9.2, Landlord agrees that it does not have and shall not assert any right, lien or claim in or to the financed or leased Trade Equipment and agrees that any third-party lender or Equipment Lessor or Sublessor (or assignee) may remove and sell the same without reference to, and free and clear of, any or other demand of Landlord, and that such sale may be made on the Property; provided, that such removing party shall be liable to Landlord for the repair of any damage caused to the Property as a result of such removal.

Equipment Leasing. Some of the Xxxxxx acknowledges and agrees that Borrower may lease certain equipment, furniture, fixtures and furniture (collectively designated herein as “Trade Equipment”) now other items to be placed on or hereafter installed affixed to the Real Property during the term of the Loan, including without limitation pursuant to existing facilities with [***]. Lender further acknowledges and used by Tenant agrees that, notwithstanding anything contained in the Loan Documents to the contrary, all such equipment, furniture, fixtures and other items to be placed on or affixed to the Real Property may be directly financed by a third-party lender or otherwise subjected to a security interest or owned by during the terms of the Loan under an equipment rental company lease facility (including without limitation pursuant to existing facilities with [***]) shall not become “Equipment Lessor”) and leased to Tenant either directly from Collateral” securing the Equipment Lessor or by way of equipment sublease or assignment of equipment lease from an equipment sublessor (“Equipment Sublessor”)Loan, and Landlord hereby agrees to recognize the neither Lender nor any of its affiliates shall have any rights therein therein, regardless of any such third-party lender or Equipment Lessor or Sublessor (or assignee). Landlord agrees that all such items of financed or leased Trade Equipment installed or to be installed on the Property shall be and remain personal property and not real property, notwithstanding the fact that the same may be nailed or screwed or otherwise attached equipment is on or affixed to the Property or improvementsReal Property. Additionally, and further agrees to recognize Lender shall cooperate with the rights therein request of any equipment lessor (including without limitation [***]) as to evidence such third-party equipment lessor’s unencumbered right, title and interest in and to the equipment, furniture, fixtures and other items to be placed on or affixed to the Real Property during the terms of the Loan, including, but not limited to, executing any documents that such equipment lender may request in connection therewith at no cost to the Lender and subject to the reasonable approval of such documents by Lender. Notwithstanding anything contained in this Section 11.09 to the contrary, the foregoing shall apply only to the extent such equipment, furniture, fixtures and other items are subject to a lease and Borrower has no legal ownership interest in the equipment, furniture, fixtures and other items. If any Borrower obtains a legal ownership interest in the equipment, furniture, fixtures and other items whether during or Equipment Lessor after the term the lease, such equipment, furniture, fixtures and other items shall become “Collateral” securing the Loan, subject to such any prior rights of the lessor. For purposes of this Section 11.09 a purchase option or Sublessor (or assignee). Tenant shall have the similar right at any time granted to remove or replace any or all Trade Equipment, whether or not financed or leasedBorrower, regardless of whether attached such purchase option or affixed similar right granted to Borrower is for a de minimum sum and regardless of any accounting treatment with respect to the Propertyunderlying equipment lease and/or the purchase option or similar right granted to Borrower, and to the extent of their respective interests therein such third-party lender or Equipment Lessor or Sublessor (or assignee) shall also have such a right. Except as otherwise provided in Subsection 9.2, Landlord agrees that it does not have and shall not assert any right, lien or claim in or to the financed or leased Trade Equipment and agrees that any third-party lender or Equipment Lessor or Sublessor (or assignee) may remove and sell the same without reference to, and free and clear of, any or other demand of Landlord, and that such sale may be made on the Property; provided, that such removing party shall be liable to Landlord for the repair of any damage caused to the Property as a result constitute Borrower’s legal ownership of such removalequipment until such purchase option or similar right granted to Borrower has been exercised and a bill of sale or similar document transferring legal ownership of the equipment to Borrower has been fully executed.

Equipment Leasing. Some Tenant's Trade Fixtures are not required to remain upon the Premises and be surrendered therewith upon termination of the equipment, fixtures and furniture (collectively designated herein as “this Lease. Trade Equipment”) Fixtures now or hereafter installed and used by Tenant on the Property Premises may or will be directly financed by a third-party lender or otherwise subjected to a security interest or owned by an equipment rental company or vendor (“"Equipment Lessor”") and leased to Tenant either directly from the Equipment Lessor or by way of equipment sublease or assignment of equipment lease from an equipment sublessor (“"Equipment Sublessor”"), and the Landlord hereby agrees to recognize the rights therein of any such third-party lender lender, vendor, or Equipment Lessor or Sublessor (or assignee). Landlord agrees that all such items of financed or leased Trade Equipment Fixtures installed or to be installed on the Property Premises shall be and remain personal property and not real property, notwithstanding the fact that the same may be nailed or screwed or otherwise attached or affixed to the Property or improvementsPremises, and further agrees to recognize the rights therein of any such third-party lender lender, vendor, or Equipment Lessor or Sublessor (or assignee). Tenant shall have the right at any time time, provided Tenant is not in default hereunder, to remove or replace any or all Trade EquipmentFixtures, whether or not financed or leased, regardless of whether attached or affixed to the PropertyPremises, and to the extent of their respective interests therein such third-party lender lender, vendor, or Equipment Lessor or Sublessor (or assignee) shall also have such a rightright regardless of whether Tenant is in default hereunder. Except as otherwise provided in Subsection 9.2, Any damage to the Premises caused by such a removal shall be repaired promptly by and at the expense of Tenant or other party causing such removal. Landlord agrees that it does not have and shall not assert any right, lien or claim in or to the financed or leased Trade Equipment and agrees that Fixtures against any third-party lender lender, vendor, or Equipment Lessor or Sublessor (or assignee) ), and, subject to the obligation promptly to repair any damage to the Premises, such party may remove and sell dispose of the same without reference to, and free and clear of, any or other demand of Landlord; provided, and however that no such disposal or sale may be made on the Property; provided, that such removing party shall be liable Premises. Landlord agrees to Landlord for execute a waiver of Landlord's lien upon the repair request of any damage caused to the Property Equipment Lessor or Sublessor substantially in form and content as a result of such removalset forth on EXHIBIT C hereto.

Equipment Leasing. Some of the equipment, trade fixtures and furniture (collectively designated herein as “"Trade Equipment”") now or hereafter installed and used by Tenant on the Property Leased Premises may or will be directly financed by a third-third party lender or otherwise be subjected to a security interest or owned by an equipment rental company or vendor (“"Equipment Lessor”") and leased to Tenant either directly from the Equipment Lessor or by way of equipment sublease or assignment of equipment lease from an equipment sublessor (“"Equipment Sublessor”"), and Landlord hereby agrees to recognize the rights therein of any such third-party lender or Equipment Lessor or Sublessor (or assigneetheir respective assignees). Landlord agrees that all such items of financed or leased Trade Equipment installed or to be installed on the Property Leased Premises shall be and remain personal property and not real property, notwithstanding the fact that the same may be nailed or screwed or otherwise attached or affixed to the Property Leased Premises or any of Tenant's buildings or improvements, and further agrees to recognize the rights therein of any such third-party lender or Equipment Lessor or Sublessor (or assigneetheir respective assignees). Tenant shall have the right at any time time, whether or not Tenant is in default hereunder, to remove or replace any or all Trade Equipment, whether or not financed or leased, regardless of whether attached or affixed to the PropertyLeased Premises, and to the extent of their respective interests therein such third-party lender or Equipment Lessor or of Sublessor (or assigneetheir respective assignees) shall also have such a right. Except as otherwise provided in Subsection 9.2, Any damage to the Leased Premises caused by such a removal shall be repaired by and at the expense of Tenant or other party causing such removal. Landlord agrees that it does not have and shall not assert any right, lien or claim subordinates its right of distraint in or to the financed or leased Trade Equipment or to Trade Equipment and agrees that any third-party lender or Equipment Lessor or Sublessor (or assigneetheir respective assignees) may remove and sell dispose of the same without reference to, and free and clear of, any or other demand of Landlord, and that such disposal or sale may be made on the Property; provided, that such removing party shall be liable to Landlord for the repair of any damage caused to the Property as a result of such removalLeased Premises.

Equipment Leasing. Some of the equipment, fixtures and furniture which under Subsection 9.1 hereof are not required to remain upon the Premises and be surrendered therewith upon termination of this Lease (collectively designated herein as “"Trade Equipment”") now or hereafter installed and used by Tenant Lessee on the Property Premises may or will be directly financed by a third-party lender or otherwise subjected to a security interest or owned by an equipment rental company or vendor (“"Equipment Lessor”") and leased to Tenant Lessee either directly from the Equipment Lessor or by way of equipment sublease or assignment of equipment lease from an equipment sublessor (“"Equipment Sublessor”"), and Landlord and, provided that such lender, vendor, or equipment Lessor or Sublessor (or assignees) gives to Lessor written notice identifying the Trade Equipment prior to its installation on the Premises, Lessor hereby agrees to recognize the rights therein of any such third-party lender lender, vendor, or Equipment Lessor or Sublessor (or assignee). Landlord Lessor agrees that all such items of financed or leased Trade Equipment installed or to be installed on the Property Premises shall be and remain personal property and not real property, notwithstanding the fact that the same may be nailed or screwed or otherwise attached or affixed to the Property or improvementsPremises, and further agrees to recognize the rights therein of any such third-party lender lender, vendor, or Equipment Lessor or Sublessor (or assignee). Tenant Lessee shall have the right at any time time, provided Xxxxxx is not in default hereunder, to remove or replace any or all Trade Equipment, whether or not financed or leased, regardless of whether attached or affixed to the PropertyPremises, and to the extent of their respective interests therein such third-party lender lender, vendor, or Equipment Lessor or Sublessor (or assignee) shall also have such a rightright regardless of whether Lessee is in default hereunder. Except as otherwise provided in Subsection 9.2, Landlord Any damage to the Premises caused by such a removal shall be repaired promptly by and at the expense of Lessee or other party causing such removal. Lessor agrees that it does not have and shall not assert any right, lien or claim in or to the financed or leased Trade Equipment and agrees that against any third-party lender lender, vendor, or Equipment Lessor or Sublessor (or assignee) ), and, subject to the obligation promptly to repair any damage to the Premises, such party may remove and sell dispose of the same without reference to, and free and clear of, any or other demand of LandlordLessor; provided, and however that no such disposal or sale may be made on the Property; providedPremises. The Port agrees to execute upon request such reasonable documentation that confirms the foregoing provisions to a third party lender, lessor or other holder of a security interest, provided that Xxxxxx is not in default hereunder and provided such removing party shall be liable documentation is approved as to Landlord for form and legality by the repair of any damage caused to the Property as a result of such removalPort Attorney.