Common use of Equipment Leasing Clause in Contracts

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 Lessee on the 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 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, 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, vendor, or Equipment Lessor or Sublessor (or assignee). Lessor agrees that all such items of financed or leased Trade Equipment installed or to be installed on the 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 Premises, and further agrees to recognize the rights therein of any such third-party lender, vendor, or Equipment Lessor or Sublessor (or assignee). Lessee shall have the right at any 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 Premises, and to the extent of their respective interests therein such third-party lender, vendor, or Equipment Lessor or Sublessor (or assignee) shall also have such a right regardless of whether Lessee is in default hereunder. 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 Trade Equipment against any third-party 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 dispose of the same without reference to, and free and clear of, any or other demand of Lessor; provided, however that no such disposal or sale may be made on the Premises. 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 documentation is approved as to form and legality by the Port Attorney.

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 Lessee on the 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 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, 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, vendor, or Equipment Lessor or Sublessor (or assignee). Lessor agrees that all such items of financed or leased Trade Equipment installed or to be installed on the 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 Premises, and further agrees to recognize the rights therein of any such third-party lender, vendor, or Equipment Lessor or Sublessor (or assignee). Lessee shall have the right at any time, provided Xxxxxx Lessee 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 Premises, and to the extent of their respective interests therein such third-party lender, vendor, or Equipment Lessor or Sublessor (or assignee) shall also have such a right regardless of whether Lessee is in default hereunder. 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 Trade Equipment against any third-party 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 dispose of the same without reference to, and free and clear of, any or other demand of Lessor; provided, however that no such disposal or sale may be made on the Premises. 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 Lessee is not in default hereunder and provided such documentation is approved as to form and legality by the Port Attorney.

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 Lessee Tenant on the Premises Property 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 Lessee 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, 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 and Landlord hereby agrees to recognize the rights therein of any such third-party lender, vendor, lender or Equipment Lessor or Sublessor (or assignee). Lessor Landlord agrees that all such items of financed or leased Trade Equipment installed or to be installed on the Premises 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 PremisesProperty or improvements, and further agrees to recognize the rights therein of any such third-party lender, vendor, lender or Equipment Lessor or Sublessor (or assignee). Lessee Tenant shall have the right at any time, provided Xxxxxx is not in default hereunder, time to remove or replace any or all Trade Equipment, whether or not financed or leased, regardless of whether attached or affixed to the PremisesProperty, and to the extent of their respective interests therein such third-party lender, vendor, lender or Equipment Lessor or Sublessor (or assignee) shall also have such a right regardless of whether Lessee is right. Except as otherwise provided in default hereunder. 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 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 against and agrees that any third-party lender, vendor, lender 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 dispose of sell the same without reference to, and free and clear of, any or other demand of Lessor; providedLandlord, however and that no such disposal or sale may be made on the Premises. The Port agrees Property; provided, that such removing party shall be liable to execute upon request Landlord for the repair of any damage caused to the Property as a result of 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 documentation is approved as to form and legality by the Port Attorneyremoval.

Equipment Leasing. Some of the equipment, fixtures and furniture which under Subsection 9.1 hereof Tenant's Trade Fixtures are not required to remain upon the Premises and be surrendered therewith upon termination of this Lease (collectively designated herein as "Lease. Trade Equipment") Fixtures now or hereafter installed and used by Lessee Tenant on the 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 Lessee 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, provided that such lender, vendor, or equipment Lessor or Sublessor (or assignees) gives to Lessor written notice identifying and the Trade Equipment prior to its installation on the Premises, Lessor Landlord hereby agrees to recognize the rights therein of any such third-party lender, vendor, or Equipment Lessor or Sublessor (or assignee). Lessor Landlord agrees that all such items of financed or leased Trade Equipment Fixtures installed or to be installed on the 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 Premises, and further agrees to recognize the rights therein of any such third-party lender, vendor, or Equipment Lessor or Sublessor (or assignee). Lessee Tenant shall have the right at any time, provided Xxxxxx 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 Premises, and to the extent of their respective interests therein such third-party lender, vendor, or Equipment Lessor or Sublessor (or assignee) shall also have such a right regardless of whether Lessee Tenant is in default hereunder. Any damage to the Premises caused by such a removal shall be repaired promptly by and at the expense of Lessee Tenant or other party causing such removal. Lessor Landlord agrees that it does not have and shall not assert any right, lien or claim in or to the Trade Equipment Fixtures against any third-party 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 dispose of the same without reference to, and free and clear of, any or other demand of LessorLandlord; provided, however that no such disposal or sale may be made on the Premises. The Port Landlord agrees to execute a waiver of Landlord's lien upon the request such reasonable documentation that confirms the foregoing provisions to a third party lender, lessor of any Equipment Lessor or other holder of a security interest, provided that Xxxxxx is not Sublessor substantially in default hereunder and provided such documentation is approved as to form and legality by the Port Attorneycontent as set forth on EXHIBIT C hereto.

Equipment Leasing. Some of the equipment, trade 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 Lessee Tenant on the 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 Lessee 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, 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 and Landlord hereby agrees to recognize the rights therein of any such third-party lender, vendor, lender or Equipment Lessor or Sublessor (or assigneetheir respective assignees). Lessor Landlord agrees that all such items of financed or leased Trade Equipment installed or to be installed on the 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 PremisesLeased Premises or any of Tenant's buildings or improvements, and further agrees to recognize the rights therein of any such third-party lender, vendor, or Equipment Lessor or Sublessor (or assigneetheir respective assignees). Lessee Tenant shall have the right at any time, provided Xxxxxx whether or not Tenant 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 Leased Premises, and to the extent of their respective interests therein such third-party lender, vendor, lender or Equipment Lessor or of Sublessor (or assigneetheir respective assignees) shall also have such a right regardless of whether Lessee is in default hereunderright. Any damage to the Leased Premises caused by such a removal shall be repaired promptly by and at the expense of Lessee Tenant or other party causing such removal. Lessor agrees that it does not have and shall not assert any right, lien or claim Landlord subordinates its right of distraint in or to the financed or leased Trade Equipment against or to Trade Equipment and agrees that any third-party lender, vendor, lender or Equipment Lessor or Sublessor (or assignee), and, subject to the obligation promptly to repair any damage to the Premises, such party their respective assignees) may remove and dispose of the same without reference to, and free and clear of, any or other demand of Lessor; providedLandlord, however and that no such disposal or sale may be made on the Leased Premises. 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 documentation is approved as to form and legality by the Port Attorney.

Equipment Leasing. Some of the Xxxxxx acknowledges and agrees that Borrower may lease certain equipment, furniture, fixtures and furniture which other items to be placed on or affixed to the Real Property during the term of the Loan, including without limitation pursuant to existing facilities with [***]. Lender further acknowledges and 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 during the terms of the Loan 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 Lessee on the 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 lease facility ("Equipment Lessor"including without limitation pursuant to existing facilities with [***]) shall not become “Collateral” securing the Loan, and leased to Lessee either directly from the Equipment Lessor or by way neither Lender nor any of equipment sublease or assignment its affiliates shall have any rights therein, regardless of equipment lease from an equipment sublessor ("Equipment Sublessor"), 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, vendor, or Equipment Lessor or Sublessor (or assignee). Lessor agrees that all such items of financed or leased Trade Equipment installed or to be installed on the 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 equipment is on or affixed to the PremisesReal 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 lenderequipment lessor’s unencumbered right, vendortitle and interest in and to the equipment, furniture, fixtures and other items to be placed on or Equipment Lessor 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 Sublessor (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 assignee). Lessee shall have the similar right at any time, provided Xxxxxx is not in default hereunder, 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 Premisesunderlying 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, vendor, or Equipment Lessor or Sublessor (or assignee) shall also have such a right regardless of whether Lessee is in default hereunder. 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 constitute Borrower’s legal ownership of such equipment until such purchase option or claim in similar right granted to Borrower has been exercised and a bill of sale or to the Trade Equipment against any third-party 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 dispose similar document transferring legal ownership of the same without reference to, and free and clear of, any or other demand of Lessor; provided, however that no such disposal or sale may be made on the Premises. The Port agrees equipment 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 documentation is approved as to form and legality by the Port AttorneyBorrower has been fully executed.