Common use of Grant of Lien and Security Interest Clause in Contracts

Grant of Lien and Security Interest. Title to the Items of Equipment shall remain in Lessor as security for the obligations of Lessee hereunder and under the other Operative Documents to which it is a party until Lessee has fulfilled all of its obligations hereunder and thereunder. Lessee hereby grants, assigns, hypothecates, transfers and pledges to Lessor, a lien and security interest on all of Lessee’s right, title and interest in and to, whether now or hereafter existing, each Item of Equipment and in each Sublease covering any Item of Equipment that may be entered into from time to time in accordance with the provisions of this Lease, and Lessee hereby grants to Lessor a continuing lien on, and security interest in, and assigns to Lessor all of Lessee’s rights, title and interest in all of the other Lessee Collateral, to secure the payment of all sums due hereunder and under the other Operative Documents to which it is a party and the performance of all other obligations hereunder and under the other Operative Documents to which it is a party; provided, however, that the lien on, and security interest in, the portion of the Lessee Collateral which constitutes Cash Collateral will not secure any obligations of the Lessee under the Operative Documents with respect to the Series B Lease Balance or any amounts due and owing with respect to such Series B Lease Balance or to the Series B Assignees, if any. Lessee also hereby authorizes Lessor and Agent to file UCC financing statements on and after the Delivery Date to the extent necessary to perfect such security interests granted pursuant to the Operative Documents that may be perfected under the UCC through such filings. Further, Lessee hereby assigns to Lessor all of its rights under any and all purchase contracts relating to each Item of Equipment.

Grant of Lien and Security Interest. Title to the Items of Equipment shall remain in Lessor as security for the obligations of Lessee hereunder and under the other Operative Documents to which it is a party until Lessee has fulfilled all of its obligations hereunder and thereunder. Lessee hereby grants, assigns, hypothecates, transfers and pledges to Lessor, a lien and security interest on all of Lessee’s 's right, title and interest in and to, whether now or hereafter existing, each Item of Equipment and in each Sublease covering any Item of Equipment that may be entered into from time to time in accordance with the provisions of this Lease, and Lessee hereby grants to Lessor a continuing lien on, and security interest in, in and assigns to Lessor all of Lessee’s 's rights, title and interest in all of the other Lessee Collateral, to secure the payment of all sums due hereunder and under the other Operative Documents to which it is a party and the performance of all other obligations hereunder and under the other Operative Documents to which it is a party; provided, however, that the lien on, and security interest in, the portion of the Lessee Collateral which constitutes Cash Collateral will not secure any obligations of the Lessee under the Operative Documents with respect to the Series B Lease Balance or any amounts due and owing with respect to such Series B Lease Balance or to the Series B Assignees, if any. Lessee also hereby authorizes Lessor and Agent to file UCC financing statements on and after the Delivery Date to the extent necessary to perfect such security interests granted pursuant to the Operative Documents that may be perfected under the UCC through such filings. Further, Lessee hereby assigns to Lessor all of its rights under any and all purchase contracts relating to each Item of Equipment.

Grant of Lien and Security Interest. Title In the event that, prior to the Items Maturity Date, in connection with the acquisition of Equipment any Property with the proceeds of an Advance hereunder, an additional Property Owner is formed or acquired by the Company or any Subsidiary thereof (whether now existing or hereafter organized), the Company shall, or shall remain in Lessor as security for the obligations of Lessee hereunder and under the other Operative Documents to which it is a party until Lessee has fulfilled all of its obligations hereunder and thereunder. Lessee hereby grants, assigns, hypothecates, transfers and pledges to Lessor, a lien and security interest on all of Lessee’s right, title and interest in and cause such Subsidiary to, whether now or hereafter existing, each Item of Equipment and in each Sublease covering any Item of Equipment that may be entered into from time to time in accordance with the provisions of this Lease, and Lessee hereby grants to Lessor (i) pledge a continuing lien on, and security interest in, and assigns to Lessor all of Lessee’s rights, title and interest in all of the Ownership Interests of such newly formed or acquired Property Owner by delivering to the Lender a duly executed supplement to the Pledge Agreement or such other Lessee Collateral, to secure document as the payment of all sums due hereunder Lender shall deem appropriate for such purpose and under comply with the other Operative Documents to which it is a party and the performance of all other obligations hereunder and under the other Operative Documents to which it is a party; provided, however, that the lien on, and security interest in, the portion terms of the Lessee Collateral Pledge Agreement, (ii) deliver to the Lender the Property Loan Documents executed or to be executed in connection with the acquisition of such Property, which constitutes Cash Collateral will not secure any obligations Property Loan Documents shall be on terms and conditions reasonably satisfactory to the Lender and shall include, without limitation, due on sale and transfer provisions (including provisions that specifically permit and consent to the pledge of one hundred percent (100%) of the Lessee under the Operative Documents with respect Ownership Interests of such Property Owner to the Series B Lease Balance or any amounts due Lender as security for the Obligations) reasonably satisfactory to the Lender in its sole discretion, (iii) deliver to the Lender the organizational documents of such Property Owner, which documents shall be on terms and owing conditions reasonably satisfactory to the Lender (including, without limitation, terms that permit the transfer of the Ownership Interests in such Property Owner in connection with the pledge thereof to the Lender), (iv) deliver to the Lender such documents and certificates referred to in Paragraph 4 as the Lender may reasonably request, (v) deliver to the Lender such updated Schedules to the Loan Documents as requested by the Lender with respect to such Series B Lease Balance or additional Property Owner and Property and (vi) deliver to the Series B AssigneesLender such other documents as may be reasonably requested by the Lender, if any. Lessee also hereby authorizes Lessor all in form, content and Agent to file UCC financing statements on and after the Delivery Date scope reasonably satisfactory to the extent necessary to perfect such security interests granted pursuant Lender and all at the expense of the Company. For the avoidance of doubt, it is hereby agreed and acknowledged by the parties hereto that the foregoing Paragraph 6(i) shall not apply to the Operative Documents that may be perfected under acquisition of the UCC through such filings. FurtherVillas of El Dorado by Apartment REIT Villas of El Dorado, Lessee hereby assigns to Lessor all of its rights under any and all purchase contracts relating to each Item of EquipmentLLC.