Common use of LANDLORD'S LIEN AND SECURITY INTEREST Clause in Contracts

LANDLORD'S LIEN AND SECURITY INTEREST. To secure the payment of all rent and other sums of money due or to become due hereunder from Tenant, Tenant hereby (a) recognizes Landlord’s statutory lien under Section 54.021 of the Texas Property Code, and (b) grants to Landlord in addition to such statutory lien in Landlord’s favor, a continuing security interest in all of Tenant’s general business office furniture and fixtures located within the Demised Premises from time to time, provided that such statutory lien and security interest shall not attach to any of Tenant’s scientific laboratory equipment or instrumentation. Upon an event of default, in addition to all other rights and remedies, Landlord shall have all rights and remedies under the Uniform Commercial Code, including without limitation, the right to sell the property described in this Section which is subject to Landlord’s lien and security interest at public or private sale, upon five (5) days notice by Landlord to Tenant, at the Demised Premises. Tenant hereby agrees to execute such other instruments as may be necessary or desirable under applicable law to perfect the security interest hereby created. Notwithstanding the foregoing, Landlord agrees, if requested now or in the future, to subordinate its said statutory lien and security interest to the right of Tenant’s lender(s) in the form attached hereto as Exhibit H. Landlord and Tenant agree that this Page 9 of this Lease and security agreement may serve as a financing statement and that a copy, photographic or other reproduction of this portion of this Lease may be filed of record by Landlord and have the same force and affect as the original. The record owner of this Project is the Landlord.

LANDLORD'S LIEN AND SECURITY INTEREST. To In consideration of the mutual benefits arising under this Lease and to secure Tenant's performance, Tenant grants to Landlord a lien and security interest against all property of Tenant, including all fixtures, machinery, equipment, furnishings, and other articles of personal property now or hereafter placed in or on the Project by Xxxxxx and owned by Tenant, together with the proceeds from the disposition of those items (the "Collateral"), now or hereafter placed in or upon the Project, as security for payment of all rent and other sums agreed to be paid by Xxxxxx herein. The provisions of this section constitute a security agreement under the Texas Uniform Commercial Code and Tenant has and may enforce a security interest in the Collateral. Except on account of replacement, removal, or substitution in the ordinary course of business, the Collateral may not be removed without the consent of Landlord until all arrearages in rent and other sums of money then due to Landlord hereunder have been paid and discharged. On or to become due hereunder from Tenantbefore the Commencement Date, Tenant hereby (a) recognizes shall execute, as debtor, two or more Financing Statements, to perfect this security interest pursuant to the Texas Uniform Commercial Code. Landlord at any time may file a copy of this Lease as a Financing Statement. Landlord’s statutory lien under Section 54.021 , as Secured Party, has all of the rights and remedies afforded to a secured party under the Texas Property Code, and (b) grants to Landlord Uniform Commercial Code in addition to such statutory lien in and cumulative of the Landlord’s favor, a continuing security interest in all 's liens and rights provided by law or by the other terms and provisions of Tenant’s general business office furniture and fixtures located within the Demised Premises from time to time, provided that such statutory lien and security interest shall not attach to any of Tenant’s scientific laboratory equipment or instrumentation. Upon an event of default, in addition to all other rights and remedies, Landlord shall have all rights and remedies under the Uniform Commercial Code, including without limitation, the right to sell the property described in this Section which is subject to Landlord’s lien and security interest at public or private sale, upon five (5) days notice by Landlord to Tenant, at the Demised Premises. Tenant hereby agrees to execute such other instruments as may be necessary or desirable under applicable law to perfect the security interest hereby createdLease. Notwithstanding the foregoing, Landlord agreesXxxxxxxx's lien is subordinate to (i) any purchase money lien; (ii) any line-of-credit lien secured by the assets, if requested now inventory, or in the future, to subordinate its said statutory lien and security interest to the right accounts receivable of Tenant’s lender(s's business; or, (iii) in the form attached hereto as Exhibit H. Landlord any Small Business Administration Note, conventional bank note, and Tenant agree that this Page 9 of this Lease and related security agreement may serve as a financing statement and that a copy, photographic or other reproduction of this portion of this Lease may be filed of record by Landlord and have the same force and affect as the original. The record owner of this Project is the Landlordagreements.

LANDLORD'S LIEN AND SECURITY INTEREST. To secure In addition to the payment of all rent Landlord's lien provided by law, Landlord shall have, and other sums of money due or to become due hereunder from Tenant, Tenant hereby (a) recognizes Landlord’s statutory lien under Section 54.021 of the Texas Property Code, and (b) grants to Landlord in addition to such statutory lien in Landlord’s favor, a continuing security interest in all goods, furniture, fixtures, equipment, supplies and other property of Tenant on the Leased Premises, and all proceeds thereof, as security for all Tenant’s general 's obligations under this Lease. Tenant shall have the right however, to sell its merchandise in the normal course of its business office furniture and fixtures located within the Demised Premises from time to time, provided that such statutory free of this lien and security interest interest. Tenant shall not attach remove any of such property from the Leased Premises until it has fully satisfied its obligations under this Lease. Any requirement of reasonable notice to Tenant of Landlord's intention to dispose of any of Tenant’s scientific laboratory equipment or instrumentation's property to enforce this security interest shall be satisfied by notice given in the manner prescribed in Section 39 of this Lease at least five (5) days before the time of such disposition. Upon an event Any such sale to enforce Landlord's security interest shall be deemed to have been a public sale conducted in a commercially reasonable manner if held on the Leased Premises after advertisement of defaultthe time, place and method of sale and a general description of the property to be sold in addition a Bexar County, Texas daily newspaper for three (3) consecutive days prior to all other rights and remedies, the sale. Landlord shall have all rights and remedies of a secured party under the Uniform Commercial Code, including without limitation, the right to sell the property described in this Section which is subject to Landlord’s lien and security interest at public or private sale, upon five (5) days notice by law. Landlord to Tenant, at the Demised Premises. Tenant hereby agrees to execute such lien waivers from other instruments creditors of Tenant so long as may be necessary or desirable under applicable law to perfect Landlord's lien on other goods, furniture, fixtures, equipment, supplies and other property of Tenant on the security interest hereby created. Notwithstanding the foregoing, Landlord agrees, if requested now or in the future, to subordinate its said statutory lien and security interest to the right of Tenant’s lender(s) in the form attached hereto as Exhibit H. Landlord and Tenant agree that this Page 9 of this Lease and security agreement may serve as a financing statement and that a copy, photographic or other reproduction of this portion of this Lease may be filed of record by Landlord and have the same force and affect as the original. The record owner of this Project Leased Premises is the Landlordnot subordinated.