LANDLORD'S LIEN. To secure the performance of Tenant’s obligations under this Lease, Tenant, as Debtor, and referred to in this Section as “Debtor”, hereby grants to Landlord, as “Secured Party”, a security interest in and an express contractual lien upon all of Debtor’s equipment, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, and other personal property of Debtor which is now on the Premises or which is placed on the Premises at some later date, and all proceeds from such items. This property shall not be removed from the Premises without the consent of Secured Party until all arrearages in rent and all other sums of money being due to Secured Party under this Lease have been paid and discharged, and all the covenants, agreements, and conditions of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in the State of Texas. This security agreement and the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such sale.
Appears in 2 contracts
Samples: Standard Industrial Lease (TWC Holding Corp.), Standard Industrial Lease (Wornick CO Right Away Division, L.P.)
LANDLORD'S LIEN. To secure the payment of all Annual Fixed Rent and Additional Rent, and the performance of Tenant’s all other obligations under this Leasehereunder, Tenant, as Debtor, and referred to in this Section as “Debtor”, Tenant hereby grants to Landlord, as “Secured Party”, Landlord a first lien and security interest in on the personal property listed on Exhibit D-2 (the "Secured Property"), and an express contractual lien also upon all proceeds of Debtor’s equipment, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, and other personal property any insurance that may accrue to Tenant by reason of Debtor which is now on the Premises destruction or which is placed on damage of the Premises at some later date, and all proceeds from such itemsSecured Property. This property shall Tenant will not be removed remove the Secured Property from the Premises without the prior written consent of Landlord, which consent shall not be unreasonably withheld; provided, however, that Tenant replaces such item(s) of Secured Party until Property with replacement item(s) of equal or greater value and that any such removal does not change the character of the Premises as laboratory space nor have a detrimental effect on the value thereof. Tenant waives the benefit of all arrearages exemption laws in rent favor of this lien and all other sums security interest. Upon the occurrence of money being due an Event of Default hereunder, this lien may be foreclosed with or without court proceedings by private or public sale, so long as Landlord gives Tenant at least ten (10) days notice of the time and place of such sale. Landlord will have the right to Secured Party under become the purchaser if it is the highest bidder at the sale. Contemporaneously with its execution of this Lease, and if requested by Landlord after such extension, Tenant will execute and deliver to Landlord Uniform Commercial Code financing statements in form and substance sufficient (upon proper filing) to perfect the security interest granted in this Section 11.10. If requested Landlord, Tenant will also execute and deliver to Landlord, within five (5) days of Landlord request, any Uniform Commercial Code continuation statements in form and substance sufficient to reflect any proper amendment of, modification in, or extension of the security interest granted in this Section 11.10. The parties hereto agree that this Lease have been paid constitutes a security agreement and discharged, and all that the covenants, agreements, and conditions recordation of a notice of this Lease have been fully complied with shall constitute a fixture filing pursuant to and performed by Debtorunder the Massachusetts Uniform Commercial Code. Secured Party is authorized and Debtor hereby irrevocably and throughout the term The provisions of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in the State of Texas. This security agreement and the security interest hereby created Section 11.10 shall survive the expiration or earlier termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such saleLease.
Appears in 2 contracts
Samples: Lease Agreement (Praecis Pharmaceuticals Inc), Lease Agreement (Praecis Pharmaceuticals Inc)
LANDLORD'S LIEN. To secure the payment of all Fixed Minimum Rent, and Additional Rent reserved herein, and all other payments due Landlord hereunder, or to become due hereunder and the faithful performance of all covenants, agreements and stipulations herein contained to be performed by Tenant’s , Tenant hereby grants to Landlord an express first and prior contract lien and security interest on all property (including fixtures, equipment, inventory, goods, wares, furniture, office equipment, supplies and merchandise) which may be placed in the Leased Premises, and also upon all proceeds of any insurance which may accrue to Tenant by reason of destruction of or damage to any such property. All exemption laws are hereby waived by Tenant in favor of said lien and security interest. This lien and security interest is given in addition to the Landlord's statutory lien and shall be cumulative thereof. Tenant shall not remove any property from the Leased Premises until all of Tenant's obligations under this LeaseLease are satisfied. This lien may be foreclosed with or without court proceedings by public or private sale, Tenantprovided Landlord gives Tenant at least ten (10) days notice of the time, as Debtorplace and terms of said sale, and Landlord shall have the right to become the purchaser of such property, upon being the highest bidder therefor at said sale. The notice referred to in the preceding sentence may (but needs not) be given by Landlord to Tenant contemporaneously with any other notice from Landlord to Tenant which may be given in accordance herewith. At the time of the execution of this Section as “Debtor”Lease, and if requested thereafter by Landlord, Tenant shall execute and deliver to Landlord financing statement instruments in form deemed sufficient by Landlord to reflect the security interest herein granted and any proper amendment of, assignment of, modification in or extension of the aforesaid contract lien and security interest hereby granted. Tenant hereby grants to LandlordLandlord a power of attorney to sign, as “Secured Party”in place and stead of Tenant, a security interest in and an express contractual lien upon all of Debtor’s equipment, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, and other personal property of Debtor which is now on the Premises or which is placed on the Premises at some later date, any and all proceeds from such itemsinstruments. This property shall not be removed from the Premises without the consent Said power of Secured Party until all arrearages in rent attorney is irrevocable and all other sums of money being due to Secured Party under this Lease have been paid and discharged, and all the covenants, agreements, and conditions of this Lease have been fully complied coupled with and performed by Debtoran interest. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby Landlord shall, at Secured Party’s option, be immediately due and payable without notice or demand. In in addition to all of its rights or remedies of Secured Party under this Lease and the lawhereunder, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all of the rights and remedies of a secured party under the Uniform Commercial Code as enacted in the State of Texas. This security agreement Texas Business and the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such saleCommerce Code.
Appears in 2 contracts
Samples: Hospital Lease Agreement (Dynacq International Inc), Office/Surgical Care Center Lease Agreement (Dynacq International Inc)
LANDLORD'S LIEN. To In addition to any statutory Landlord's lien, Landlord shall have, at all times, a valid security interest to secure the performance payment of Tenant’s obligations under this Lease, all rentals and other sums of money becoming due hereunder from Tenant, as Debtorand to secure payment of any damages or loss which Landlord may suffer by reason of the breach by Tenant of any covenant, and referred to in this Section as “Debtor”agreement, hereby grants to Landlordor condition contained herein, as “Secured Party”, a security interest in and an express contractual lien upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, improvements and other personal property of Debtor Tenant presently, or which is now may hereafter be situated on the Premises or which is placed on the Premises at some later datedemised premises, and all proceeds from therefrom, and such items. This property shall not be removed from the Premises therefrom without the consent of Secured Party Landlord until all arrearages in rent as well as any and all other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged, discharged and all of the covenants, agreements, agreements and conditions of this Lease hereof have been fully complied with and performed by DebtorTenant. Secured Party Upon the occurrence of an event of default by Tenant, Landlord may, in addition to any other remedies provided herein, enter upon the demised premises and take possession of any and all goods, wares, equipment, fixtures, furniture, improvements and other personal property of Tenant situated on the premises, without liability for trespass or conversion, and sell the same at public or private sale, with or without having such property at the sale, after giving Tenant reasonable notice of the time and place of any public sale or of the time after which any private sale is authorized to be made, at which sale the Landlord or its assigns may purchase unless otherwise prohibited by law. Unless otherwise provided by law, and Debtor hereby irrevocably and throughout without intending to exclude any other manner of giving Tenant reasonable notice, the term requirement of reasonable notice shall be met if such notice is given in the manner prescribed in Paragraph 26 of this Lease lease at least ten (10) days before the time of sale. Any sale made pursuant to the provision of this Paragraph 21 shall be deemed to have been a public sale conducted in a commercially reasonable manner if held in the demised premises or where the property is located after the time, place and method of sale and a general description of the types of property to be sold have been advertised in a local daily newspaper for five (5) consecutive days before the date of the sale. The proceeds from any extensions or renewals thereof) appoints Secured Party such disposition, less any and all expenses connected with the taking of possession, holding and selling of the property (including reasonable attorney's fees and legal expenses), shall be applied as its attorney-in-fact to prepare and file financing statements signed only a credit against the indebtedness secured by Secured Party as attorney-in-fact on behalf of Debtor covering the security described aboveinterest granted in this paragraph. Any surplus shall be paid to Tenant or as otherwise required by law; moreoverthe Tenant shall pay any deficiencies forthwith. Upon request by Landlord, Debtor Tenant agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized execute and deliver to file a duplicate original or Xerox copy of this Lease as Landlord a financing statement with in form sufficient to perfect the Office security interest of Landlord in the Secretary aforementioned property and proceeds thereof under the provisions of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in the State of Texasforce in this state. This security agreement and Any statutory lien for rent is not hereby waived, the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are herein granted being in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such salesupplementary thereto.
Appears in 1 contract
Samples: Office Lease Agreement (Therapeutic Antibodies Inc /De)
LANDLORD'S LIEN. To In addition to any statutory landlord’s lien, now or hereafter enacted, Tenant grants to Landlord, to secure the performance of Tenant’s obligations under this Lease, Tenant, as Debtor, and referred to in this Section as “Debtor”, hereby grants to Landlord, as “Secured Party”hereunder, a security interest in and an express contractual lien upon all of DebtorTenant’s equipment, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, and other personal property of Debtor which is now on or hereafter situated in or upon, or used in connection with, the Premises or which is placed on the Premises at some later dateProperty, and all proceeds from such items. This property thereof (except (a) Tenant’s rights and interests as licensee under that certain technology License Agreement with iBio Inc. as licensor; (b) merchandise sold in the ordinary course of business; and (c) the New Improvements Personalty) (collectively, the “Collateral”), and the Collateral shall not be removed from the Premises Property without the prior written consent of Secured Party Landlord until all arrearages in rent and all other sums obligations of money being due to Secured Party under this Lease have been paid and discharged, and all the covenants, agreements, and conditions of this Lease Tenant have been fully complied with performed. The Collateral includes specifically (subject to the exclusions listed in clauses (a), (b) and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereofc) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office ) all of the Secretary of State Replacement Property, Tenant’s furniture and with trade and other fixtures, inventory, equipment, contract rights, accounts receivable and the appropriate county clerk’s office for the county where the Premises are located, as appropriateproceeds thereof. Upon default under this Lease by Debtorthe occurrence of an Event of Default, any or Landlord may, in addition to all of Debtor’s obligations to Secured Party secured hereby shallother remedies, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the lawdemand except as provided below, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all exercise the rights and remedies of afforded to a secured party under the Uniform Commercial Code as enacted of the state in which the Property is located (the “UCC”). To the extent the UCC requires Landlord to give to Tenant notice of any act or event and such notice cannot be validly waived before a default occurs, then 5 days’ prior written notice thereof shall be reasonable notice of the act or event. In order to perfect such security interest, Landlord may file any financing statement or other instrument necessary at Tenant’s expense at the state and county Uniform Commercial Code filing offices. Tenant shall repair or replace any of the Collateral that is damaged and replace any of the Collateral that is worn out or obsolete. For the sake of clarity, neither items owned by customers of Tenant and located in the State Property nor Property that is owned by Landlord shall constitute Collateral. Tenant may, in the ordinary course of Texas. This security agreement and the security interest hereby created shall survive the termination business, dispose of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are in addition to and cumulative any of the Collateral that is damaged, worn out or obsolete and Landlord’s lien and security interest in such damaged, worn out or obsolete item shall be released provided by that, to the laws extent needed in connection with the operation of the State of Texas. In Property or in the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion operation of Tenant’s property at such salebusiness in the Property, Tenant has replaced the damaged, worn out or obsolete item with another item of equal or greater value and utility that becomes part of the Collateral.
Appears in 1 contract
Samples: Sublease Agreement (iBio, Inc.)
LANDLORD'S LIEN. To Landlord shall have, at all times, a valid security interest to secure the performance payment of Tenant’s obligations under this Leaseall Rent, Additional Rent and other sums of money becoming due hereunder from Tenant, as Debtorand to secure payment of any damages or loss which Landlord may suffer by reason of the breach by Tenant of any covenant, and referred to in this Section as “Debtor”agreement or condition contained herein, hereby grants to Landlord, as “Secured Party”, a security interest in and an express contractual lien upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, improvements and other personal property of Debtor which is now on the Premises Tenant presently or which is placed on may hereinafter be situated in the Premises at some later datePremises, and all proceeds from therefrom, and such items. This property shall not be removed from the Premises therefrom without the consent of Secured Party Landlord until all arrearages in rent Rent, Additional Rent, and any and all other sums of money being due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged, discharged and all of the covenants, agreements, and conditions of this Lease hereof have been fully complied with and performed by DebtorTenant. Secured Party is authorized and Debtor hereby irrevocably and throughout the term In consideration of this Lease, upon the occurrence of an event of default by Tenant, Landlord may, in addition to any other remedies provided herein, enter upon the Premises and take possession of any and all goods, wares, equipment, fixtures, furniture, improvements, and other personal property of Tenant situated on or in the Premises, without liability for trespass or conversion, and sell the same at public or private sale, with or without having such property at the sale, after giving Tenant reasonable notice of the time and place of any public sale or of the time after which any private sale is to be made, at which sale the Landlord or its assigns may purchase unless otherwise prohibited by law. Unless otherwise provided by law, and without intending to exclude any other manner of giving Tenant reasonable notice, the requirement of reasonable notice shall be met if such notice is given in the manner prescribed in Section 25 dealing with "Notices" in this Lease at least five (5) days before the time of sale. The proceeds from any such disposition, less any and any extensions or renewals thereof) appoints Secured Party all expenses connected with the taking of possession, holding and selling of the property (including reasonable attorneys' fees and other expenses), shall be applied as its attorney-in-fact to prepare and file financing statements signed only a credit against the indebtedness secured by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreoverinterest granted in this Section 18. Any surplus shall be paid to Tenant or as otherwise required by law, Debtor and Tenant shall pay any deficiencies forthwith. Upon request by Landlord, Tenant agrees to sign execute and deliver to Landlord a financing statement in form sufficient to perfect the same upon requestsecurity interest of Landlord in the aforementioned property and proceeds thereof under the provisions of the Uniform Commercial Code in force in the State of Florida. Notwithstanding the foregoing, Secured Party is hereby authorized to Landlord may at its election at any time file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriatestatement. Upon default under The security interest granted Landlord pursuant to this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In Section 18 is in addition to all landlord's liens and comparable rights provided by law (including, but not limited to, Section 83.08, Florida Statutes) or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in the State of Texas. This security agreement and the security interest hereby created shall survive the termination other provisions of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such saleLease.
Appears in 1 contract
Samples: Lease (Eckler Industries Inc)
LANDLORD'S LIEN. To secure In addition to any statutory lien for rent in Landlord's favor, Landlord shall have and Tenant hereby grants to Landlord a continuing security interest for all rentals and other sums of money becoming due hereunder from Tenant and for the performance of Tenant’s all of its other obligations under this Leasehereunder, Tenant, as Debtor, and referred to in this Section as “Debtor”, hereby grants to Landlord, as “Secured Party”, a security interest in and an express contractual lien upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, and other personal property of Debtor which is Tenant or any subtenant now on or hereafter situated at the Premises or which is placed on the Premises at some later datePremises, and all proceeds from such items. This property shall not be removed from the Premises therefrom without the consent of Secured Party Landlord until all arrearages in rent as well as any and all other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged, discharged and all the covenants, agreements, and conditions other obligations of this Lease Tenant have been fully complied with performed and performed discharged. In the event any of the foregoing described property is removed from the Premises in violation of the covenant in the preceding sentence, the security interest shall continue in such property and all proceeds and products, regardless of location. Upon the occurrence of an Event of Default hereunder, or upon Tenant's threatened breach of its obligations hereunder (including, without limitations, any threatened vacation or abandonment of the Premises), 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 Paragraph at public or private sale upon five (5) days' notice by DebtorLandlord. Secured Party is authorized Tenant hereby agrees to execute such other instruments, necessary or desirable under applicable law to perfect the security interest hereby created. Landlord and Debtor hereby irrevocably and throughout the term of Tenant agree that this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease agreement serves as a financing statement with the Office and that a copy, photographic or other reproduction of the Secretary this portion of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease may be filed of record by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due Landlord and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease have the same force and effect as the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in the State of Texasoriginal. This security agreement and financing statement also covers fixtures located at the security interest hereby created shall survive Premises and is to be filed for record in the termination of this Lease if such termination results from Debtor’s defaultreal estate records. The above-described security interest and lien are in addition to and cumulative record owner of the Land is Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such sale.
Appears in 1 contract
Samples: Industrial Lease Agreement (Advanced Materials Group Inc)
LANDLORD'S LIEN. To In addition to the statutory landlord's lien, Landlord shall have at all times a valid security interest to secure the performance payment of Tenant’s obligations under this Lease, all rentals and other sums of money becoming due hereunder from Tenant, as Debtorand to secure payment of any damages or loss which Landlord may suffer by reason of the breach by Tenant of any covenant, and referred to in this Section as “Debtor”agreement or condition contained herein, hereby grants to Landlord, as “Secured Party”, a security interest in and an express contractual lien upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, improvements and other personal property of Debtor which is now on the Premises Tenant presently, or which is placed on may hereafter be, situated in the Premises at some later datePremises, and all proceeds from therefrom, and such items. This property shall not be removed from the Premises therefrom without the consent of Secured Party Landlord until all arrearages in rent rental as well as any and all other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged, discharged and all the covenants, agreements, agreements and conditions of this Lease hereof have been fully complied with and performed by DebtorTenant. Secured Party Upon the occurrence of an Event of Default as set forth in Paragraph 21 hereof by Tenant, Landlord may, to the extent permitted by law and in addition to any other remedies provided herein, enter upon the Premises and take possession of any and all goods, wares, equipment, fixtures, furniture, improvements and other personal property of Tenant situated in the Premises, without liability for trespass or conversion, and sell the same as public or private sale, with or without having such property at the sale, after giving Tenant reasonable notice of the time and place of any public sale or of the time after which any private sale is authorized to be made, at which sale Landlord or Landlord's assigns may purchase unless otherwise prohibited by law. Unless otherwise provided by law, and Debtor hereby irrevocably and throughout without intending to exclude any other manner of giving Tenant reasonable notice, the term requirement of reasonable notice shall be met if such notice is given in the manner prescribed in this Lease at least ten (10) days before the time of sale. Any sale made pursuant to the provisions of this Lease Paragraph 22 shall be deemed to have been a public sale conducted in a commercially reasonable manner if held in the Premises or where the property is located after the time, place and method of sale and a general description of the types of property to be sold have been advertised in a daily newspaper published in the county in which the Building is located, for five (5) consecutive days before the date of the sale. The proceeds from any such disposition, less any and all expenses connected with the taking of possession, holding and selling of the property (including reasonable attorneys' fees) shall be applied as a credit against the indebtedness secured by the security interest granted in this Paragraph 22. Any surplus shall be paid to Tenant or as otherwise required by law; Tenant shall pay any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact deficiencies forthwith. Upon request of Landlord, Tenant agrees to prepare and file execute Uniform Commercial Code financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering relating to the aforesaid security described above; moreoverinterest, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to or Landlord may file this Lease or a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in the State of Texas. This security agreement and the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such salestatement.
Appears in 1 contract
LANDLORD'S LIEN. To secure the performance of Tenant’s obligations under this Lease, Tenant, as Debtor, and referred to in this Section as “Debtor”, (a) Tenant hereby grants to Landlord, as “Secured Party”, Landlord a security interest in to secure payment of all Rent and an express contractual lien other sums of money coming due hereunder from Tenant and to secure payment of any damages or loss which Landlord may suffer by reason of the breach by Tenant of any covenant agreement or condition contained herein, upon all of Debtor’s equipmentequipment fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, improvements and other personal property of Debtor owned by Tenant presently or which is now mav hereafter be situated on the Premises or which is placed on the Premises at some later dateLeased Premises, and all proceeds from such itemstherefrom. This Such property shall not be removed from the Leased Premises at any time without the consent of Secured Party the Landlord until all arrearages in rent and all Rent as well as any other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged, discharged and all the covenants, agreements, and conditions of this Lease hereof have been fully complied with fulfilled and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demandTenant. In addition to any other remedies provided herein, in the event of default Landlord may enter the Leased Premises and take possession of any and all rights equipment fixtures, furniture, improvements and other personal property of Tenant situated upon the Leased Premises without liability for trespass or remedies conversion. Landlord may sell the same at a public or private sale, with or without having such property at the sale, after giving Tenant reasonable notice as to the time and place of Secured Party under the sale. At such sale. Landlord or its assigns may purchase the Property unless such purchase is otherwise prohibited by law. Unless otherwise provided by law, the requirement of reasonable notice shall be met if such notice is given to Tenant at the address hereafter prescribed at least thirty (30) days prior to the time of the sale. The proceeds of any such disposition, less all expenses connected with the taking of possession and sale of the property, including a reasonable attorney’s fee, shall be applied as a credit against the indebtedness secured by the security interest granted in this Lease paragraph. Any surplus shall be paid to Tenant and Tenant shall pay any deficiencies upon demand. Upon request by Landlord. Tenant will execute and deliver to Landlord a financing statement in a form sufficient to perfect the security interest of the Landlord in the aforementioned property and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party proceeds thereof under the Uniform Commercial Code as enacted provision of the uniform commercial code in force in the State of Texas. This security agreement and The statutory lien for Rent is not waived: the security interest hereby created herein granted is in addition and supplementary thereto. Notwithstanding anything to the contrary, this provision shall survive the termination of this Lease not be effective if such termination results from Debtor’s default. The above-described it violates any security interest and lien are in addition previously granted by Tenant to and cumulative of the any third party.
(b) Landlord agrees to reasonably subordinate its Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial to any lender or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and similar entity which provides purchase all money financing or a portion of Tenant’s property at such salefinancing lease facility for furnishings and equipment located in the Leased Premises.
Appears in 1 contract
Samples: Lease Agreement (Newgistics, Inc)
LANDLORD'S LIEN. To In addition to the statutory landlord's lien, Landlord shall have at all times a valid security interest to secure the performance payment of Tenant’s obligations under this Lease, all rentals and other sums of money becoming due hereunder from Tenant, as Debtorand to secure payment of any damages or loss which Landlord may suffer by reason of the breach by Tenant of any covenant, and referred to in this Section as “Debtor”agreement or condition contained herein, hereby grants to Landlord, as “Secured Party”, a security interest in and an express contractual lien upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, improvements and other personal property of Debtor which is now on the Premises Tenant presently, or which is placed on may hereafter be, situated in the Premises at some later dateLeased Premises, and all proceeds from therefrom, and such items. This property shall not be removed from the Premises therefrom without the consent of Secured Party Landlord until all arrearages in rent rental as well as any and all other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged, discharged and all the covenants, agreements, agreements and conditions of this Lease hereof have been fully complied with and performed by DebtorTenant. Secured Party Upon the occurrence of an Event of Default as set forth in Paragraph 18 hereof by Tenant, Landlord may, to the extent permitted by law and in addition to any other remedies provided herein, enter upon the Leased Premises and take possession of any and all goods, wares, equipment, fixtures, furniture, improvements and other personal property of Tenant situated in the Leased Premises, without liability for trespass or conversion, and sell the same at public or private sale, with or without having such property at the sale, after giving Tenant reasonable notice of the time and place of any public sale or of the time after which any private sale is authorized to be made, at which sale Landlord or Landlord's assigns may purchase unless otherwise prohibited by law. Unless otherwise provided by law, and Debtor hereby irrevocably and throughout without intending to exclude any other manner of giving Tenant reasonable notice, the term requirement of reasonable notice shall be met if such notice is given in the manner prescribed in this Lease at least ten (10) days before the time of sale. Any sale made pursuant to the provisions of this Lease Paragraph 17 shall be deemed to have been a public sale conducted in a commercially reasonable manner if held in the Leased Premises or where the property is located after the time, place and method of sale and a general description of the types of property to be sold have been advertised in a daily newspaper published in the county in which the Building is located, for five (5) consecutive days before the date of the sale. The proceeds from any such disposition, less any and any extensions or renewals thereofall expenses connected with the taking of possession, holding and selling of the property (including reasonable attorneys' fees) appoints Secured Party shall be applied as its attorney-in-fact to prepare and file financing statements signed only a credit against the indebtedness secured by Secured Party as attorney-in-fact on behalf of Debtor covering the security described aboveinterest granted in this Paragraph 17. Any surplus shall be paid to Tenant or as otherwise required by law; moreoverTenant shall pay any deficiencies forthwith. Upon request of Landlord, Debtor Tenant agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the execute Uniform Commercial Code as enacted in financing statements relating to the State of Texas. This aforesaid security agreement and the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such saleinterest.
Appears in 1 contract
Samples: Office Lease (Windsor Woodmont Black Hawk Resort Corp)
LANDLORD'S LIEN. To secure Landlord shall have at all times during the performance Term, a valid lien for all rents and other sums of Tenant’s obligations under this Lease, money becoming due hereunder from Tenant, as Debtor, and referred to in this Section as “Debtor”, hereby grants to Landlord, as “Secured Party”, a security interest in and an express contractual lien upon all of Debtor’s equipmentgoods, accounts, wares, merchandise, inventory, furniture, furnishings, appliances, goods, trade fixtures, inventoryequipment, chattels, vehicles and other personal property and effects of Debtor which is now on Tenant or any Subtenant situated in or upon the Premises Leased Property, including Tenant Personal Property and any interest of Tenant or which is placed on Subtenant in FF&E Replacements, but specifically excluding the Premises at some later dateExcluded Trademarks and the other Excluded Collateral, and all proceeds from such items. This property subject to Landlord’s lien (the “Collateral”) shall not be removed from therefrom except in accordance with the Premises terms of this Agreement without the approval and consent of Secured Party Landlord until all arrearages in rent Rent as well as any and all other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and dischargeddischarged in full. Alternatively, the lien hereby granted may be foreclosed in the manner and all the covenantsform provided by law for foreclosure of 60 Master Lease security interests or in any other manner and form provided by law. The statutory lien for Rent, agreementsif any, and conditions of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor not hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease waived and the lawexpress contractual lien herein granted is in addition thereto and supplementary thereto. Tenant and each Subtenant by its signature to this Agreement hereby respectively grants to Landlord a lien and security interest in Tenant’s and Subtenant’s right, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights title and remedies of a secured party under the Uniform Commercial Code as enacted interest in the State of TexasCollateral to secure the Tenant’s Obligations. This security agreement Tenant and Subtenants agree to execute and deliver to Landlord from time to time during the security interest hereby created shall survive the termination of this Lease if Term such termination results from Debtor’s default. The above-described security interest and lien are Financing Statements as may be required by Landlord in addition order to and cumulative of perfect the Landlord’s lien provided herein or granted or created by the laws state law. Tenant and each Subtenant further agrees that during an Event of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure saleDefault, Tenant hereby expressly consents and Subtenants shall not make any distributions to their shareholders, partners, members or other owners (except Subtenants may make distributions to Tenant) and gives Landlord the authority any such prohibited distributions shall be considered and deemed to bid on be fraudulent and purchase all or a portion of Tenantpreferential and subordinate to Landlord’s property at such saleclaim for Rent and other sums hereunder.
Appears in 1 contract
Samples: Master Lease Agreement (Care Investment Trust Inc.)
LANDLORD'S LIEN. To secure As security for the performance of Tenant’s 's obligations, Tenant grants to Landlord a lien upon and a security interest in Tenant's existing or hereafter acquired personal property, inventory, furniture, furnishings, fixtures, equipment, licenses, permits, and all other tangible and intangible property, assets and accounts, and all additions, modifications, products and proceeds thereof, including, without limitation, such tangible property which has been used at the Premises, purchased for use at the Premises, located at any time in the Premises or used or to be used in connection with the business conducted or to be conducted in the Premises, whether or not the same may thereafter be removed from the Premises. Such lien shall be in addition to all rights of distraint available under applicable law. Within five (5) days after request from time to time, Tenant shall execute, acknowledge and deliver to Landlord a financing statement and any other document evidencing or establishing such lien and security interest which may be requested by Landlord. During the Lease Term, Tenant shall not sell, transfer or remove from the Premises any of the aforementioned tangible property without Landlord's prior written consent, unless the same shall be promptly replaced with similar items of comparable value. In order to further assure Tenant's performance of its obligations under this Lease, Tenant covenants that during the Lease Term, it will not convey or otherwise transfer its assets or permit its assets to be encumbered to the extent that any such conveyance, transfer or encumbrance is not done in the ordinary course of Tenant's business or would materially and adversely affect the net worth of Tenant. Notwithstanding anything herein to the contrary, as Debtorsaid lien shall be subordinated to the rights of any lessor of any equipment or personal property under any equipment lease, the rights of the seller under any conditional sales contract, and referred to the properly perfected lien of any bona fide third party lender providing financing to Tenant in this Section as “Debtor”, hereby grants to Landlord, as “Secured Party”, a security interest in and an express contractual lien upon all the ordinary course of Debtor’s equipment, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, and other personal property of Debtor which is now on the Premises or which is placed on the Premises at some later date, and all proceeds from such itemsTenant's business. This property shall not be removed from the Premises without the consent of Secured Party until all arrearages in rent and all other sums of money being due to Secured Party under this Lease have been paid and discharged, and all the covenants, agreements, and conditions of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby Landlord also shall, at Secured Party’s optionto the extent permitted by law, be immediately due and payable without notice or demand. In have (in addition to all rights or remedies other rights) a right of Secured Party distress for rent as security for all Rent, Additional Rent and any other sums payable under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in the State of Texas. This security agreement and the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such saleLease.
Appears in 1 contract
LANDLORD'S LIEN. 37.1 To secure the performance of Tenant’s 's obligations under this Lease, Tenant, as Debtor, and referred to in this Section as “Debtor”, Tenant hereby grants to Landlord, as “Secured Party”, Landlord a first security interest in and an express contractual lien upon all of Debtor’s Tenant's equipment, furniture, furnishings, appliances, goods, and trade fixtures, inventory, chattels, and other personal property of Debtor fixtures which is now on or hereafter are brought upon the Premises or which is placed on by the Premises at some later dateTenant, accounts receivable and cash and cash equivalent derived from Tenant's business conducted from the Premises, deposits granted hereunder and the refunds, if any, under this Lease, and all after acquired property, replacements and proceeds from such items. This property shall not be removed thereof, and an assignment of all licenses and permits necessary for the operation and conduct of Tenant's business, as permitted under Article 8 of this Lease, from the Premises without the consent of Secured Party until all arrearages in rent and all other sums of money being due to Secured Party under Premises. The parties agree that this Lease have been paid and discharged, and all shall constitute a security agreement for purposes of the covenants, agreements, and conditions of this Lease have been fully complied with and performed by DebtorMassachusetts Uniform Commercial Code. Secured Party Landlord is authorized to prepare and Debtor file financing statements and other agreements covering the security described above and provided Tenant has not executed such financing statements and other documents evidencing the security interest within ten (10) days of Landlord's request, Tenant hereby irrevocably designates and throughout appoints the term of this Lease (and any extensions or renewals thereof) appoints Secured Party Landlord as its attorney-in-fact to prepare execute and file financing in the name of Tenant any such statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering and other documents evidencing the security described interest and assignments referred to herein above; moreover, Debtor agrees . Tenant shall execute upon demand any such statements and other documents reasonably requested by Landlord in connection herewith. Failure to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file so execute such statements and other documents reasonably requested by Landlord shall constitute a duplicate original or Xerox copy of default under this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriateLease. Upon the occurrence and continuation of any default under this Lease by Debtorand the giving of notice and the expiration of any applicable cure period, any or and all of Debtor’s Tenant's obligations to Secured Party Landlord secured hereby shall, at Secured Party’s option, may be immediately due and payable without notice or demandforeclosed on by Landlord. In addition to all rights or remedies of Secured Party Landlord under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party Landlord shall have all the rights fights and remedies of a secured party under the Uniform Commercial Code as enacted in the State of Texas. This security agreement and the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such sale.under
Appears in 1 contract
Samples: Commercial Lease (Smith & Wollensky Restaurant Group Inc)
LANDLORD'S LIEN. To In addition to any statutory landlord’s lien now in effect or hereafter enacted, Tenant grants to Landlord, to secure the performance of Tenant’s obligations under this Lease, Tenant, as Debtor, and referred to in this Section as “Debtor”, hereby grants to Landlord, as “Secured Party”hereunder, a security interest in Tenant’s owned furniture and an express contractual lien non-confidential, non-proprietary owned equipment situated in or upon all of Debtor’s equipment, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, and other personal property of Debtor which is now on the Premises or which is placed on the Premises at some later dateProject, and all proceeds from such itemsthereof (except merchandise sold in the ordinary course of business) (collectively, the “Collateral”). This property shall not be removed from Such personalty thus encumbered expressly excludes intellectual property, confidential or proprietary property, inventory, contract rights, accounts receivable and the Premises without proceeds thereof. Upon the consent occurrence of Secured Party until all arrearages an Event of Default, Landlord may, in rent and addition to all other sums of money being due to Secured Party under this Lease have been paid and dischargedremedies, and all the covenants, agreements, and conditions of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the lawdemand except as provided below, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all exercise the rights and remedies of afforded to a secured party under the Uniform Commercial Code as enacted of the state in which the Premises are located (the OFFICE LEASE AGREEMENT Xxxxxxxx Xxxx Xxxxx, Xxxxxxxx Xxxx, Xxxxxxxxxx Arcutis, Inc. 26 “UCC”). To the extent the UCC requires Landlord to give to Tenant notice of any act or event and such notice cannot be validly waived before a default occurs, then five (5) days’ prior written notice thereof shall be reasonable notice of the act or event. In order to perfect such security interest, Landlord may file any financing statement or other instrument necessary at Tenant’s expense at the state and county Uniform Commercial Code filing offices. Within ten (10) days following written request therefor, Tenant shall execute financing statements to be filed of record to perfect Landlord’s security interest in the State of TexasCollateral. This security agreement and the security interest hereby created The landlord’s lien shall survive the expiration or earlier termination of this Lease if such termination results from Debtor’s defaultthe Lease, until all obligations of Tenant have been fully performed. The above-described security interest and lien are Notwithstanding the foregoing, however, Landlord shall, at no cost to Landlord, when requested to do so by Tenant in addition writing, execute appropriate documents reasonably acceptable to and cumulative of the Landlord to subordinate Landlord’s statutory, contractual, common law and other lien provided by rights in and to the laws Collateral to the lien rights of any lenders of Tenant or any third-party lien rights over the State Collateral that predate the date of Texasthis Lease. In the event Tenant shall promptly reimburse Landlord sells Tenanton demand for all of Landlord’s property at a judicial or nonjudicial foreclosure salecosts and expenses, Tenant hereby expressly consents to including, without limitation, attorneys’ fees and gives Landlord the authority to bid on costs, incurred in connection with its review, negotiation and purchase all or a portion execution of Tenant’s property at any such saledocumentation.
Appears in 1 contract
Samples: Office Lease Agreement (Arcutis Biotherapeutics, Inc.)
LANDLORD'S LIEN. To In addition to the statutory landlord's lien and in order to secure the performance payment of Tenant’s obligations under this Lease, Tenant, as Debtorall rentals and other sums of money becoming due hereunder from Lessee, and referred to in this Section as “Debtor”secure payment of any damages or loss which Lessor may suffer by reason of the breach by Lessee of any covenant, agreement, or condition contained herein, Lessee hereby grants to Landlord, as “Secured Party”, unto Lessor a security interest in and an express contractual lien upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattelsimprovements, and other personal property of Debtor Lessee presently or which is now may hereafter be situated on the Leased Premises (except such part of such property as may be exchanged, replaced, or which is placed on sold from time to time in the Premises at some later date, ordinary course of Lessee's operations) and all proceeds from therefrom, and such items. This property shall not be removed from the Premises therefrom without the consent of Secured Party Lessor until all arrearages in rent as well as any and all other sums of money being then due to Secured Party under this Lease Lessor hereunder shall first have been paid and discharged, discharged and all the covenants, agreements, and conditions of this Lease hereof have been fully complied with and performed by DebtorLessee. Secured Party is authorized Upon the occurrence of an event of default by Lessee, Lessor may, in addition to any other remedies provided herein, enter upon the Leased Premises and Debtor hereby irrevocably take possession of any and throughout all such goods, wares, equipment, fixtures, furniture, improvements, and other personal property of Lessee situated on the term of this Lease Leased Premises, without liability for trespass or conversion (and Lessee hereby waives any extensions right to notice or renewals thereofhearing prior to such taking of possession by Lessor) appoints Secured Party and sell the same at public or private sale, with or without having such property at the sale, after giving Lessee reasonable notice of the time and place of any public sale or of the time after which any private sale is to be made, at which sale Lessor or its assigns may purchase unless otherwise prohibited by law. Unless otherwise provided by law, and without intending to exclude any other manner of giving Lessee reasonable notice, the requirement of reasonable notice shall be met if such notice is given in the manner prescribed by this lease at least five (5) days before the day of sale. The proceeds from any such disposition, less any and all expenses connected with the taking of possession, holding, and selling of the property (including reasonable attorney's fees and other expenses), shall be applied as its attorney-in-fact to prepare and file financing statements signed only a credit against the indebtedness secured by Secured Party as attorney-in-fact on behalf of Debtor covering the security described aboveinterest granted in this paragraph. Any surplus shall be paid to Lessee or as otherwise required by law; moreoverand the Lessee shall pay any deficiency forthwith. Upon request by Lessor, Debtor Lessee agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized execute and deliver to file a duplicate original or Xerox copy of this Lease as Lessor a financing statement with in form sufficient to perfect the Office security interest of Lessor in the Secretary aforementioned property and proceeds thereof under the provisions of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in force in the State of Texas. This lease shall also be deemed a security agreement under the Uniform Commercial Code of Texas and Lessor shall additionally have the rights and remedies provided by said Uniform Commercial Code. The statutory lien for rent is not hereby waived, the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are herein granted being in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such salesupplementary thereto.
Appears in 1 contract
LANDLORD'S LIEN. To secure the performance of Tenant’s obligations under this LeaseIn addition to any statutory lien for rent in Landlord's favor, Tenant, as Debtor, Landlord shall have and referred to in this Section as “Debtor”, Tenant hereby grants to Landlord, as “Secured Party”, Landlord a continuing security interest in for all rentals and an express contractual lien other sums of money becoming due hereunder from Tenant, upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattelsaccounts, contract rights, chattel paper and other personal property of Debtor which is now on Tenant situated within the Premises or which is placed on the Premises at some later datePremises, subject to this Lease, and all proceeds from such items. This property shall not be removed from the Premises therefrom without the consent of Secured Party Landlord until all arrearages in rent as well as any and all other sums sum of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged. Products of collateral are also covered. In the event of a default under this Lease, Landlord shall have, in addition to any other remedies provided herein or by law. all rights and all remedies under the covenantsUniform Commercial Code, agreementsincluding, without limitation, the right to sell the property described in this Paragraph at public or private sale upon five (5) days' notice to Tenant. Tenant hereby agrees to execute such financing statements and conditions of other instruments necessary or desirable in Landlord's discretion to perfect the security interest hereby created. Any statutory lien for rent is not hereby waived, the express contractual lien herein granted being in addition and supplementary thereto. Landlord and Tenant agree that this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease agreement serves as a financing statement with the Office and that a copy or photographic or other reproduction of the Secretary this portion of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease may be filed of record by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due Landlord and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease have the same force and effect as the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in the State of Texasoriginal. This security agreement and financing statement also covers fixtures located within the Premises subject to this Lease. The record owner of this Property is the Tenant, unless otherwise designated in writing to Landlord. Tenant warrants that the collateral subject to the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are in addition to and cumulative of the Landlord’s lien provided granted herein is not purchased or used by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial Tenant for personal, family or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such salehousehold purposes.
Appears in 1 contract
LANDLORD'S LIEN. To secure In addition to any statutory lien for rent in Landlord’s favor, subject to the performance of Tenant’s obligations under this Leaseprovisions hereof, Tenant, as Debtor, Landlord shall have and referred to in this Section as “Debtor”, Tenant hereby grants to Landlord, as “Secured Party”, Landlord a continuing security interest in all rentals and an express contractual lien upon other sums of money which may become due under this Lease from Tenant, all of Debtor’s goods, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, and other personal property of Debtor which is Tenant now or hereafter situated at, on or within the Premises or which is placed on the Premises at some later datereal property described in EXHIBIT “A” attached hereto and incorporated herein by reference, and all proceeds from such items. This property shall not be removed from the Premises therefrom without the consent of Secured Party until all arrearages Landlord, except in rent the ordinary course of Tenant’s business In the event any of the foregoing described property is removed from the Premises in violation of the covenant in the preceding sentence, the security interest shall continue in such property and all other sums proceeds and products, regardless of money being due to Secured Party under this Lease have been paid and discharged, and all the covenants, agreements, and conditions of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriatelocation. Upon default under this Lease an Event of Default hereunder by DebtorTenant, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In in addition to all of Landlord’s other rights or remedies of Secured Party under this Lease and the lawremedies, including the right to a judicial or nonjudicial foreclosure, Secured Party Landlord shall have all the rights and remedies of a secured party under the Uniform Commercial Code Code, including without limitation the right to sell the property described in this paragraph at public or private sale at any time after ten (10) days prior notice by Landlord Tenant hereby agrees to execute such other instruments deemed by Landlord as enacted in the State of Texas. This security agreement and necessary or desirable under applicable law to perfect more fully the security interest hereby created shall survive the termination Landlord and Tenant agree that this Lease and security agreement and EXHIBIT “A” attached hereto serves as a financing statement and that a copy, photograph or other reproduction of this portion of this Lease if such termination results from Debtormay be filed of record by Landlord and have the same force and effect as the original This security agreement and financing statement also covers fixtures located at the Premises subject to this Lease and legally described in EXHIBIT “A” attached hereto, and all rents or other consideration received by or on behalf of Tenant in connection with any assignment of Tenant’s default. The above-described security interest and lien are in addition to and cumulative this Lease or any sublease of the Landlord’s Premises or any part thereof, and, therefore, may also be filed for record in the appropriate real estate records. It is agreed and understood that the lien provided the Landlord has as a result of this provision shall be subordinate to any and all liens granted by Tenant to any lender, equipment lessor, or other creditor Landlord agrees to execute as necessary such commercially reasonable subordination agreements as are requested by Tenant to evidence the laws of the State of Texassubordination described in this provision. In the event that Landlord sells Tenant’s property at fails to execute such commercially reasonable subordination agreement within ten (10) business days of receipt of a judicial or nonjudicial foreclosure salecommercially reasonable agreement, Tenant hereby expressly consents then Landlord shall thereafter forfeit all rights it has under this provision Initial Illegible Date 6/6/96 EXECUTED BY LANDLORD, this 11th day of June, 1996 By: ORI, Inc., a Texas Corporation, General Partner /s/ Xxxxxxx X Xxxxxxxxx By: Xxxxxxx X Xxxxxxxxx Title: President Address: x/x Xxxxxxxx Xxxx Central Texas, Inc. 000 Xxxxxxxx Xxxxxx, Xxxxx 0000, Xxxxxx, XX 00000 EXECUTED BY TENANT, this day of June, 1996 /s/ Xxxxx X Xxxxx By: Xxxxx X Xxxxx Title: President Address: 0000 Xxxxx Xxxxx Xxxx , Xxxx 000 Xxxxxx, Xxxxx 00000 EXHIBIT “A” - Description of Premises EXHIBIT “B” - Location of Parking EXHIBIT “C” - Additional Provisions EXHIBIT “D” - Form of Letter of Credit EXHIBIT “E” - Sign Plan Initial Illegible Date 6/6/96 To be attached to and gives form a part of Lease made the 11th day of June, 1996 (which together with any amendments, modifications and extensions thereof, is hereinafter called the Lease), between Landlord and Tenant, covering a total of 52,800 square feet and located at 0000 Xxxxxx Xxxxxxxxx, Xxxxxx, Xxxxx, known as Metric #4. WITNESSETH that the authority to bid on and purchase all or a portion of Tenant’s property at such sale.Lease is hereby amended as follows:
Appears in 1 contract
Samples: Lease Agreement (DJO Finance LLC)
LANDLORD'S LIEN. To secure In addition to any statutory lien for rent in Landlord's favor, Landlord (the performance of Tenant’s obligations under this Lease, Tenant, as Debtor, secured party for purposes hereof) shall have and referred to in this Section as “Debtor”, Tenant (the debtor for purposes hereof) hereby grants to Landlord, as “Secured Party”, a continuing security interest in for all Base Rent, Additional Rent and an express contractual lien other sums of money becoming due hereunder from Tenant, upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattelsaccounts, contract rights, chattel paper and other personal property of Debtor which is now Tenant situated on the Premises or which is placed on the Premises at some later date, subject to this Lease and all proceeds from such items. This property shall not be removed from the Premises therefrom without the consent of Secured Party Landlord until all arrearages in rent Rent as well as any and all other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged, and all . In the covenants, agreements, and conditions event of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by DebtorLease, any or all of Debtor’s obligations to Secured Party secured hereby shalllandlord shall have, at Secured Party’s option, be immediately due and payable without notice or demand. In in addition to all rights any other remedies provided herein or remedies of Secured Party under this Lease and the by law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted Code, including without limitation the right to sell the property described in the State of Texasthis Section at public or private sale upon ten (10) days notice to Tenant which notice Tenant hereby agrees is adequate and reasonable. This security agreement and Tenant hereby agrees to execute such other instruments necessary or desirable in Landlord's discretion to perfect the security interest hereby created shall survive created. Any statutory lien for Rent is not hereby waived, the termination of this Lease if such termination results from Debtor’s defaultexpress contractual lien herein being granted in addition and supplementary thereto. The above-described Tenant warrants and represents that the collateral subject to the security interest granted herein is not purchased or used by Tenant for personal, family or household purposes. Tenant further warrants and represents that the lien are granted herein constitutes a first and superior lien and the Tenant will not allow the placing of any other lien upon the property described in addition to and cumulative this Section without the prior written consent of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such sale.
Appears in 1 contract
LANDLORD'S LIEN. To secure In addition to any statutory lien for rent in Landlord’s favor, Landlord (the performance of Tenant’s obligations under this Lease, Tenant, as Debtor, secured party for purposes hereof) shall have and referred to in this Section as “Debtor”, Tenant (the debtor for purposes hereof) hereby grants to Landlord, as “Secured Party”subject and subordinate to any and all liens and security interests now existing or hereafter granted on or in the following by the Tenant to any party now or hereafter providing financing to Tenant, an express contract lien and a continuing security interest in and an express contractual lien to secure the payment of all Rent due hereunder from Tenant, upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattelsaccounts, contract rights, chattel paper and other personal property of Debtor which is now Tenant (and any transferees or other occupants of the Premises) presently or hereafter situated on the Premises or which is placed on the Premises at some later date, and upon all proceeds from of any insurance which may accrue to Tenant by reason of damage or destruction of any such itemsproperty. This property The subordination of Landlord’s lien shall not be removed from self-operative and no further instrument of subordination shall be required. However, Landlord agrees upon demand to execute such further instruments subordinating its or acknowledging the Premises without subordination of its lien as Tenant may request. In the consent of Secured Party until all arrearages in rent and all event that Landlord should fail to execute any subordination or other sums of money being due to Secured Party under agreement required by this Lease have been paid and dischargedArticle promptly as requested, and all the covenants, agreements, and conditions of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor Landlord hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party constitutes Tenant as its attorney-in-fact to prepare execute such instrument in Landlord’s name, place and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreoverstead, Debtor agrees it being agreed that such power is one coupled with an interest in Tenant and is accordingly irrevocable. Subject to sign the same upon request. Notwithstanding the foregoing, Secured Party and the rights of any party holding a lien or security interest in the foregoing collateral that is hereby authorized superior to file the Landlord’s lien thereon. In the event of a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by DebtorLease, any or all of Debtor’s obligations to Secured Party secured hereby shallLandlord shall have, at Secured Party’s option, be immediately due and payable without notice or demand. In in addition to all rights any other remedies provided herein or remedies of Secured Party under this Lease and the by law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted of the state in which the State of TexasPremises is located, including without limitation the right to sell the property described in this paragraph at public or private sale upon ten (10) days’ notice to Tenant, which notice Tenant hereby agrees is adequate and reasonable. This Tenant hereby agrees to execute such other instruments necessary or desirable in Landlord’s discretion to perfect the security agreement interest hereby created. Any statutory lien for rent is not hereby waived, the express contractual lien herein granted being in addition and supplementary thereto. Landlord and Tenant agree that this Lease and the security interest hereby created shall survive the termination granted herein serve as a financing statement, and a copy or photographic or other reproduction of this Paragraph of this Lease if such termination results from Debtor’s defaultmay be filed of record by Landlord and have the same force and effect as the original. The above-described Tenant warrants and represents that the collateral subject to the security interest and lien are in addition to and cumulative of the Landlord’s lien provided granted herein is not purchased or used by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial Tenant for personal, family or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such salehousehold purposes.
Appears in 1 contract
Samples: Office Lease Agreement (Correctional Services Corp)
LANDLORD'S LIEN. To In addition to the statutory Landlord's lien, Landlord shall have, at all times, a valid security interest to secure the performance payment of Tenant’s obligations under this Lease, all rentals and other sums of money becoming due hereunder from Tenant, as Debtorand to secure payment of any damages or loss which Landlord may suffer by reason of the breach by Tenant of any covenant, and referred to in this Section as “Debtor”agreement or condition contained herein, hereby grants to Landlord, as “Secured Party”, a security interest in and an express contractual lien upon all of Debtor’s goods, wares, equipment, fixture, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, improvements and other personal property of Debtor Tenant presently or which is now may hereafter be situated on the Premises or which is placed on the Premises at some later datepremises, and all proceeds from therefrom and such items. This property shall not be removed from the Premises therefrom without the consent of Secured Party Landlord until all arrearages in rent as well as any and all other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged, discharged and all the covenants, agreements, agreements and conditions of this Lease hereof have been fully complied with and performed by DebtorTenant. Secured Party Upon the occurrence of an event of default by Tenant, Landlord may, in addition to any other remedies provided herein, enter upon the premises and take possession of any and all goods, wares, equipment, fixtures, furniture, improvements and other personal property of Tenant situated on the premise, without liability for trespass or conversion, and sell the same at public or private sale, with or without having such property at the sale, after giving Tenant reasonable notice of the time and place of any public sale or of the time after which any private sale is authorized to be made, at which sale the Landlord or its assigns may purchase unless otherwise prohibited by law. Unless otherwise provided by law, and Debtor hereby irrevocably and throughout without intending to exclude any other manner of giving Tenant reasonable notice, the term requirement of reasonable notice shall be met if such notice is given in the manner prescribed in paragraph 27 of this Lease lease at least five (5) days before the time of sale. The proceeds from any such disposition, less any and any extensions or renewals thereof) appoints Secured Party all expenses connected with the taking of possession, holding and selling of the property (including reasonable attorneys' fees and other expenses), shall be applied as its attorney-in-fact to prepare and file financing statements signed only a credit against the indebtedness secured by Secured Party as attorney-in-fact on behalf of Debtor covering the security described aboveinterest granted in this paragraph 24. Any surplus shall be paid to Tenant or as otherwise required by law; moreoverand the Tenant shall pay any deficiencies forthwith. Upon request by Landlord, Debtor Tenant agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized execute and deliver to file a duplicate original or Xerox copy of this Lease as Landlord a financing statement with in form sufficient to perfect the Office security interest of Landlord in the Secretary aforementioned property and proceeds thereof under the provisions of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in force in the State of Texas. This security agreement and The statutory lien for rent is not hereby waived, the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are herein granted being in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such salesupplementary thereto.
Appears in 1 contract
Samples: Lease Agreement (Omega Research Inc)
LANDLORD'S LIEN. To secure the performance In addition to any applicable common law or statutory lien, none of Tenant’s obligations under this Leasewhich are to be deemed waived by Landlord, TenantLandlord shall have, as Debtorat all times, and referred to in this Section as “Debtor”, Tenant hereby grants to Landlord, as “Secured Party”, a valid lien and security interest in to secure payment of all rentals and an express contractual lien other sums of money becoming due hereunder from Tenant, and to secure payment of any damages or loss which Landlord may suffer by reason of the breach by Tenant of any covenant, agreement or condition contained herein, upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, improvements and other personal property of Debtor Tenant which is now may hereafter be situated on the Premises or which is placed on the Premises at some later datePremises, and all proceeds from therefrom, and such items. This property shall not be removed from the Premises therefrom without the consent of Secured Party Landlord until all arrearages arrearage in rent Rent as well as any and all other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged, discharged and all the covenants, agreements, agreements and conditions of this Lease hereof have been fully complied with and performed by DebtorTenant. Secured Party Landlord covenants and agrees to subordinate the lien granted hereunder to any commercial lender which Tenant grants a security interest. Upon the occurrence of an Event of Default by Tenant, but subject to Tenant’s lender rights, if any, after the expiration of all stated notice and cure periods, Landlord may, in addition to any other remedies provided herein, peaceably enter upon the Premises and take possession of any and all goods, wares, equipment, fixtures, furniture, improvements and other personal property of Tenant situated on the Premises, without liability for trespass or conversion, and sell the same at public or private sale, with or without having such property at the sale, after giving Tenant reasonable notice of time and place of any public sale or of the time after which any private sale is authorized to be made, at which sale Landlord or its assigns may purchase unless otherwise prohibited by law. Unless otherwise provided by law, and Debtor hereby irrevocably and throughout without intending to exclude any other manner of giving Tenant reasonable notice, the term requirement of reasonable notice shall be met if such notice is given in the manner prescribed in Article 22 of this Lease at least five (5) days before the time of sale. The proceeds from any such disposition, less all expenses connected with the taking of possession, holding and any extensions or renewals thereof) appoints Secured Party selling of the property (including reasonable attorney's fees and other expenses), shall be applied as its attorney-in-fact to prepare and file financing statements signed only a credit against the indebtedness secured by Secured Party as attorney-in-fact on behalf of Debtor covering the security described aboveinterest granted in this Article 34. Any surplus shall be paid to Tenant or as otherwise required by law; moreoverand Tenant shall pay any deficiencies forthwith. Upon request by Landlord, Debtor Tenant agrees to sign execute and deliver to Landlord a financing statement in form sufficient to perfect the same upon requestsecurity interest of Landlord in the aforementioned property and proceeds thereof under the provisions of the Uniform Commercial Code in force in the State of New Jersey. Notwithstanding the foregoing, Secured Party is hereby authorized the parties acknowledge and agree that Tenant’s lender may have superior rights to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office property noted herein. Tenant shall use its best efforts to obtain, within forty-five (45) days of the Secretary date hereof, a waiver of State and with the appropriate county clerk’s office for the county where the Premises are locatedall such rights from its lender in this regard, as appropriate. Upon default under this Lease by Debtorand, any or all of Debtor’s obligations failing to Secured Party secured hereby shallobtain such waiver, at Secured Party’s optionthat Tenant shall use its best efforts to obtain from such lender, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to grant a judicial or nonjudicial foreclosuresubordinated lien to Landlord in such goods, Secured Party shall have all second only to the rights and remedies lien of a secured party under the Uniform Commercial Code as enacted in the State of Texas. This security agreement and the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such salelender.
Appears in 1 contract
Samples: Lease (Celsion CORP)
LANDLORD'S LIEN. To secure 22.1. Subordinate to any equipment acquisition financing, Tenant grants to Landlord a lien upon and a security interest in, as security for the performance of Tenant’s obligations 's obligations, Tenant's existing or hereafter acquired personal property, inventory, furniture, fixtures, equipment and other assets which are located in the Premises or used in connection with the business to be conducted in the Premises (hereinafter collectively called "Personal Property"). Such lien shall be in addition to all rights of distraint available under applicable law. Within fifteen (15) days after Landlord's request, Tenant shall execute, acknowledge and deliver to Landlord a financing statement and any other document submitted to Tenant evidencing or establishing such lien and security interest. During any period Tenant is in Event of Default under this Lease, Tenant, as Debtor, and referred to in this Section as “Debtor”, hereby grants to Landlord, as “Secured Party”, a security interest in and an express contractual lien upon all of Debtor’s equipment, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, and other personal property of Debtor which is now on the Premises or which is placed on the Premises at some later date, and all proceeds from such items. This property Tenant shall not be removed sell, transfer or remove from the Premises without such Personal Property. Landlord may at any time after Event of Default in the consent payment of Secured Party until all arrearages in rent or Event of Default of other obligations, seize and take possession of any and all other sums Personal Property belonging to Tenant which may be found in and upon the Premises. If Tenant fails to redeem the Personal Property so seized, by payment of money being whatever sum may be due Landlord under and by virtue of the provisions of this Lease, then and in that event, Landlord shall have the right, after twenty (20) days' written notice to Tenant of its intention to do so, to sell such Personal Property so seized at public or private sale and upon such terms and conditions as to Landlord may appear advantageous, and after the payment of charges incident to such sale, including storage charges if any, apply the proceeds thereof to the payment of any balance due to Secured Party under Landlord on account of rent or other obligations of Tenant pursuant to this Lease have been paid and discharged, and all the covenants, agreements, and conditions of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in the State of Texas. This security agreement and the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are in addition to and cumulative of the Landlord’s lien provided by the laws of the State of TexasLease. In the event there shall then remain in the hands of Landlord sells any balance realized from the sale of said Personal Property as aforesaid, the same shall be paid over to Tenant’s property at a judicial . The exercise of the foregoing remedy by Landlord shall not relieve or nonjudicial foreclosure sale, discharge Tenant hereby expressly consents from any deficiency owed to and gives Landlord that Landlord has the authority right to bid on and purchase all or a portion enforce pursuant to any other provisions of Tenant’s property at such salethis Lease.
Appears in 1 contract
LANDLORD'S LIEN. To secure the performance of Tenant’s obligations under this Lease(a) In addition to any statutory lien for rent in Landlord's favor, Tenant, as Debtor, Landlord shall have and referred to in this Section as “Debtor”, Tenant hereby grants to Landlord, as “Secured Party”, Landlord a continuing security interest in and an express contractual lien upon for all of Debtor’s equipment, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, rent and other personal property sums of Debtor money which is have been or which will become due hereunder from Tenant now on or hereafter situated at the Premises or which is placed on (the Premises at some later date, and all proceeds from such items"Collateral"). This property The Collateral shall not be removed from the Premises without the consent of Secured Party until all arrearages Landlord; provided, however, Tenant shall have the right to sell its inventory in rent the ordinary course of business. In the event any of the Collateral is removed from the Premises in violation of the covenant in the preceding sentence, the security interest shall continue in the Collateral and all proceeds and products of the Collateral, regardless of location. Upon an event of default hereunder by Tenant, in addition to all other sums of money being due rights and remedies, Landlord shall have all rights and remedies under the Uniform Commercial Code, including without limitation, the right to Secured Party sell the Collateral described in this Paragraph at public or private sale upon five (5) days notice by Landlord. Tenant hereby agrees to execute such other instruments necessary or desirable under applicable law to perfect the security interest hereby created. Landlord and Tenant agree that this Lease have been paid and discharged, and all the covenants, agreements, and conditions of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease agreement serve as a financing statement with the Office and that a copy, photographic or other reproduction of the Secretary this portion of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease may be filed of record by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due Landlord and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease have the same force and effect as the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in the State of Texasoriginal. This security agreement and financing statement also covers fixtures located at the Premises subject to this Lease and legally described in Exhibit "A" attached hereto and incorporated herein by reference and is to be filed for record in the real estate records.
(b) Notwithstanding Paragraph 41(a), Landlord agrees that it will subordinate its security interest and Landlord's lien to the security interest hereby created shall survive of Tenant's supplier or institutional financial source for so long as the termination rental account of Tenant under this Lease if such termination results from Debtor’s default. The above-described security interest is current (or brought current) provided that Landlord approves the transaction as being reasonably necessary for Tenant's operations at the Premises, and lien are in addition further provided that the subordination must be limited to a specified transaction and cumulative specified items of the Landlord’s lien provided by fixtures, equipment or inventory involved in the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such saletransaction.
Appears in 1 contract
LANDLORD'S LIEN. To secure In addition to the performance of Tenant’s obligations under this Leasestatutory landlord's lien, Tenant, as Debtor, and referred to in this Section as “Debtor”, hereby Tenant --------------- grants to Landlord, as “Secured Party”to secure performance of Tenant's obligations hereunder, a security interest in and an express contractual lien upon all of Debtor’s goods, inventory, equipment, fixtures, furniture, furnishingsimprovements, applianceschattel paper, goodsaccounts, trade fixtures, inventory, chattelsand general intangibles, and other personal property of Debtor which is Tenant now or hereafter situated on or relating to Tenant's use of the Premises or which is placed on the Premises at some later date(but excluding all computer hardware and software and any patents, copyrights, trade secrets, and other intellectual property rights of Tenant), and all proceeds from such items. This property therefrom (the "COLLATERAL"), and the Collateral shall ---------- not be removed from the Premises without the consent of Secured Party Landlord until all arrearages in rent and all other sums obligations of money being due to Secured Party under this Lease have been paid and discharged, and all the covenants, agreements, and conditions of this Lease Tenant have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriateperformed. Upon default under this Lease by Debtorthe occurrence of an Event of Default, any or Landlord may, in addition to all of Debtor’s obligations to Secured Party secured hereby shallother remedies, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the lawdemand except as provided below, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all exercise the rights and remedies of afforded a secured party under the Uniform Commercial Code as enacted in of the State in which the Building is located (the "UCC"). In connection with any public or private sale --- under the UCC, Landlord shall give Tenant five-days' prior written notice of Texasthe time and place of any public sale of the Collateral or of the time after which any private sale or other intended disposition thereof is to be made, which is agreed to be a reasonable notice of such sale or other disposition. This security agreement and All proceeds of any such sale may be applied first to the payment of expenses incurred by Landlord in enforcing the security interests herein granted (including reasonable attorneys' fees and expenses). Tenant grants to Landlord a power of attorney to execute and file any financing statement or other instrument necessary to perfect Landlord's security interest hereby created shall survive under this Section 27, which power is coupled with an interest and is irrevocable during the termination Term. Landlord may also file a copy of this Lease if such termination results from Debtor’s default. The above-described or this provision as a financing statement to perfect its security interest in the Collateral. Upon written request from Tenant, Landlord shall review and, if applicable, approve (which approval shall not be unreasonably withheld), documentation subordinating Landlord's contractual lien set forth in this Section 27 to specific credit facilities for the benefit of Tenant. When delivering such request, Tenant shall provide Landlord all information reasonably necessary for Landlord's review including, but not limited to, (a) the name of Tenant's lender, (b) the amount of Tenant's facility, and lien are in addition to and cumulative (c) the purpose of the Landlord’s lien provided by the laws of the State of Texascredit facility. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure saleAdditionally, Tenant hereby expressly consents to shall pay all of Landlord's reasonable expenses incurred in connection with such request, including reasonable attorneys' fees and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such saleexpenses.
Appears in 1 contract
LANDLORD'S LIEN. To In addition to the statutory landlord's lien, Landlord shall have, at all times, a valid security interest to secure the performance payment of Tenant’s obligations under this Lease, all rentals and other sums of money becoming due hereunder from Tenant, as Debtorand to secure payment of any damages or loss which Landlord may suffer by reason of the breach by Tenant of any covenant, and referred to in this Section as “Debtor”agreement or condition contained herein, hereby grants to Landlord, as “Secured Party”, a security interest in and an express contractual lien upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, improvements and other personal property of Debtor Tenant presently or which is now may hereafter be situated on the Premises or which is placed on the Premises at some later datepremises, and all proceeds from therefrom, and such items. This property shall not be removed from the Premises therefrom without the consent of Secured Party Landlord until all arrearages in rent as well as any and all other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged, discharged and all the covenants, agreements, agreements and conditions of this Lease hereof have been fully complied with and performed by DebtorTenant. Secured Party Upon the occurrence of any event of default by Tenant, Landlord may, in addition to any other remedies provided herein, enter upon the premises and take possession of any and all goods, wares, equipment, fixtures, furniture, improvements and other personal property of Tenant situated on the premises, without liability for trespass or conversion and sell the same at public or private sale, with or without having such property at the sale, after giving Tenant reasonable notice of the time and place of any public sale or of the time after which any private sale is authorized to be made, at which sale the Landlord or its assigns may purchase unless otherwise prohibited by law. Unless otherwise provided by law, and Debtor hereby irrevocably and throughout without intending to exclude any other manner of giving Tenant reasonable notice, the term requirement of reasonable notice shall be met if such notice is given in the manner prescribed in paragraph 29 of this Lease lease at least fifteen (15) days before the time of sale. The proceeds from any such disposition, less any and any extensions or renewals thereof) appoints Secured Party all expenses connected with the taking of possession, holding and selling of the property (including reasonable attorneys' fees and other expenses), shall be applied as its attorney-in-fact to prepare and file financing statements signed only a credit against the indebtedness secured by Secured Party as attorney-in-fact on behalf of Debtor covering the security described aboveinterest granted in this paragraph 26. Any surplus shall be paid to Tenant or as otherwise required by law; moreoverand the Tenant shall pay any deficiencies forthwith. Upon request by Landlord, Debtor Tenant agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized execute and deliver to file a duplicate original or Xerox copy of this Lease as Landlord a financing statement with in form sufficient to perfect the Office security interest of Landlord in the Secretary aforementioned property and proceeds thereof under the provisions of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in force in the State of Texas. This security agreement and The statutory lien for rent is not hereby waived, the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are herein granted being in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such salesupplementary thereto.
Appears in 1 contract
Samples: Office/Showroom/Warehouse Lease Agreement (Pharmchem Laboratories Inc)
LANDLORD'S LIEN. To secure In consideration of the performance of Tenant’s obligations mutual benefits arising under this Lease, Tenant, as Debtor, and referred to in this Section as “Debtor”, Tenant hereby grants to Landlord a lien and security interest on all property of Tenant now or hereafter placed in or upon the Premises, and such property shall be and remain subject to such lien and security interest of Landlord for payment of all Rent and other sums agreed to be paid by Tenant herein. Said lien and security interest shall be in addition to and cumulative of Landlord, as “Secured Party”, ’s liens provided by law. This Lease shall constitute a security agreement under the Uniform Commercial Code so that Landlord shall have and may enforce a security interest in and an express contractual lien upon on all of Debtor’s equipment, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, and other personal property of Debtor which is Tenant now or hereafter placed in or on the Premises or which is placed on the Premises at some later date, and all proceeds from such itemsby Tenant. This property shall not be removed from the Premises without the consent of Secured Party until all arrearages in rent and all other sums of money being due to Secured Party under this Lease have been paid and discharged, and all the covenants, agreements, and conditions of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor Tenant agrees to sign the same upon requestexecute as debtor such financing statement or statements as Landlord may now or hereafter request in order that such security interest or interests may be protected pursuant to said Code. Notwithstanding the foregoing, Secured Party is hereby authorized to Landlord may at its election at any time file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are locatedstatement. Landlord, as appropriate. Upon default under this Lease by Debtorsecured party, any or shall be entitled to all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of afforded a secured party under the said Uniform Commercial Code as enacted in the State of Texas. This security agreement Code, which rights and the security interest hereby created remedies shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are be in addition to and cumulative of the Landlord’s lien liens and rights provided by law or by the laws other terms and provisions of this Lease. Notwithstanding anything to the State of Texas. In the event contrary, Landlord sells Tenantsubordinates its landlord’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid lien on and purchase all or a portion any of Tenant’s personal property at subject to a security interest in favor of a third-party lender to such salethird-party lender and agrees to execute a document reasonably acceptable to Landlord upon the request of such third-party lender to evidence such subordination. Exhibit A – Legal Description Exhibit B – Outline of Premises Exhibit C – Building Rules and Regulations Exhibit D – Construction Provisions Exhibit E – Parking Exhibit F – Operating Expenses Exhibit G – Intentionally Deleted Exhibit H – Acknowledgment of Lease Commencement and Lien Rights Exhibit I – Special Provisions Exhibit J – Example Letter of Credit Exhibit K – Estoppel, Non-Disturbance, Subordination and Attornment Agreement DATED as of the date first above written. BC PLAZA II/III, LTD., a Texas limited partnership SigmaTel, Inc., a Texas corporation By: By: Xxxxxxxx Xxxx Central Texas Development, Inc., a Delaware corporation, Its General Partner By: By: Xxxxxx X. Xxxxxxx Title: Title: C.F.O.
Appears in 1 contract
LANDLORD'S LIEN. To secure the payment of all rental and other sums of money due and to become due from Tenant under this Lease and the faithful performance of Tenant’s obligations under this Lease, Lease by Tenant, as Debtor, and referred to in this Section as “Debtor”, hereby Tenant grants to Landlord, as “Secured Party”, a Landlord an express first contractual lien upon and security interest in and an express contractual lien upon all of Debtor’s equipment, furniture, furnishings, appliances, goods, trade property (including fixtures, inventory, equipment and chattels, and other personal property of Debtor ) which is now on the Premises or which is may be placed on the Premises at some later date, by Tenant and all proceeds from thereof, including proceeds of any insurance which may accrue to Tenant by reason of the destruction of or damage to any such itemsproperty. This Such property shall not be removed from the Premises without the written consent of Secured Party Landlord until all arrearages in rent and all other sums of money being then due to Secured Party under this Lease Landlord by Tenant have been paid paid. The lien and dischargedsecurity interest created by this Paragraph are in addition to, not in lieu of, Landlord’s statutory lien. Upon the occurrence of an event of default by Tenant, the lien and security interest created by this Paragraph may be foreclosed with or without court proceedings by public or private sale, provided Landlord has given Tenant at least 15 days’ notice of the time and place of the sale, and all Landlord shall have the covenantsright to become the purchaser, agreementsupon being the highest bidder at the sale. Upon request by Landlord, Tenant will execute and conditions deliver to Landlord Uniform Commercial Code Financing Statements in sufficient form so that when properly filed, the security interest hereby granted will be perfected. Tenant will also execute and deliver to Landlord upon request Uniform Commercial Code Financing Statement change instruments in sufficient form to reflect any proper amendment or modification in or extension of the security interest hereby granted. A photographic or other reproduction of this Lease have been fully complied with will suffice and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease may be filed as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriatestatement. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby Landlord shall, at Secured Party’s option, be immediately due and payable without notice or demand. In in addition to all rights or of the remedies of Secured Party under specified in this Lease and the lawParagraph, including the right to a judicial or nonjudicial foreclosure, Secured Party shall also have all of the rights and remedies of a secured party under the Uniform Commercial Code as enacted adopted in the State of Texas. This security agreement and state in which the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien Premises are in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such salelocated.
Appears in 1 contract
Samples: Lease Agreement (Protective Products of America, Inc.)
LANDLORD'S LIEN. To secure the performance of TenantIn addition to any statutory lien for Rent in Landlord’s obligations under this Leasefavor, Tenant, as Debtor, Landlord shall have and referred to in this Section as “Debtor”, Tenant hereby grants to Landlord, as “Secured Party”, Landlord a continuing security interest in for all rentals and an express contractual lien other sums of money becoming due hereunder from Tenant, upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattelsaccounts, contract rights, receivables, chattel paper and other personal property of Debtor which is now Tenant situated on the Premises or which is placed on the Premises at some later dateLeased Premises, and all proceeds from such items. This property shall not be removed there from the Premises without the consent of Secured Party Landlord until all arrearages arrearage in rent Rent as well as any and all other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged, and all . In the covenants, agreements, and conditions event of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by DebtorLease, any or all of Debtor’s obligations to Secured Party secured hereby shallLandlord shall have, at Secured Party’s option, be immediately due and payable without notice or demand. In in addition to any other remedies provided herein or by law, all rights or and remedies of Secured Party under this Lease the Texas Business and the lawCommerce Code, including without limitation the right to a judicial sell the property described in this paragraph at public or nonjudicial foreclosure, Secured Party private sale upon ten (10) days notice to Tenant. Tenant hereby authorizes Landlord to file financing statement(s) in form sufficient to perfect the security interest granted hereunder. Landlord shall have all the rights and remedies of a secured party under the Uniform Commercial Texas Business and Commerce Code as enacted and this lien and security interest may be foreclosed by process of law. The requirement of reasonable notice prior to any sale under Article 9 of the Texas Business and Commerce Code shall be met if such notice is given in the State manner prescribed herein at least ten (10) days before the day of Texassale. This security agreement and Any sale made pursuant to the security interest hereby created shall survive the termination provisions of this Lease Paragraph shall be deemed to have been a public sale conducted in a commercially reasonable manner if such termination results from Debtor’s defaultheld in the Leased Premises after the time, place and method of sale and a general description of the types of property to be sold have been advertised for ten (10) consecutive days prior to the date of sale in a daily newspaper published in the county in Texas where the Building is located. The above-described security interest and Any statutory lien are for Rent is not hereby waived, the express contractual lien herein granted being in addition and supplementary thereto. Notwithstanding the provisions of this Paragraph 23 to and cumulative of the Landlord’s lien provided contrary, if Tenant desires to obtain a loan secured by the laws of the State of Texas. In the event Landlord sells Tenant’s personal property at in the Premises and requests that Landlord execute a judicial or nonjudicial foreclosure salelien waiver in connection therewith, Tenant hereby expressly consents Landlord agrees to and gives Landlord subordinate its lien rights to the authority to bid on and purchase all or a portion rights of Tenant’s property at lender pursuant to a lien subordination on Landlord’s standard form, provided that Tenant delivers such salerequest in writing to Landlord together with a nonrefundable processing fee in the amount of Five Hundred Dollars ($500.00). Notwithstanding the foregoing, however, if Landlord incurs processing costs (including attorneys’ fees) in connection with any such request which exceed Five Hundred Dollars ($500.00), then Tenant shall reimburse Landlord for such excess within three (3) business days following Tenant’s receipt of invoice(s) therefor from Landlord. Nothing in this Article 23.shall permit Tenant to encumber its leasehold interest in the Premises.
Appears in 1 contract
Samples: Lease Agreement (Sulphco Inc)
LANDLORD'S LIEN. To In addition to the statutory Landlord's Lien, Landlord shall have, at all times, a valid security interest to secure the performance payment of Tenant’s obligations under this Leaseall Rental, Additional Rental and other sums of money becoming due hereunder from Tenant, as Debtorand to secure payments of any damages or loss which Landlord may suffer by reason of the breach by Tenant of any covenant, and referred to in this Section as “Debtor”agreement or condition contained herein, hereby grants to Landlordupon ail goods, as “Secured Party”wares, a security interest in and an express contractual lien upon all of Debtor’s equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, improvements and other personal property of Debtor which is now on the Premises Tenant presently or which is placed on may hereinafter be situated in the Premises at some later dateOffice Space, and all proceeds from therefrom, and such items. This property shall not be removed from the Premises therefrom without the consent of Secured Party Landlord until all arrearages in rent Rent as well as any and all other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged, discharged and all of the covenants, agreements, and conditions of this Lease hereof have been fully complied with and performed by DebtorTenant. Secured Party In consideration of this Lease, upon the occurrence of an event of default by Tenant, Landlord may, in addition to any other remedies provided herein, enter upon the Office Space and take possession of any and all goods, wares, equipment, fixtures, furniture, improvements, and other personal property of Tenant situated on or in the Office Space, without liability for trespass or conversion, and sell the same at public or private sale, with or without having such property at the sale, after giving Tenant reasonable notice of the time and place of any public sale or of the time after which any private sale is authorized to be made, at which sale the Landlord or its assigns may purchase unless otherwise prohibited by law. Unless otherwise provided by law, and Debtor hereby irrevocably and throughout without intending to exclude any other manner of giving Tenant reasonable notice, the term requirement of reasonable notice shall be met if such notice is given in the manner prescribed in paragraph 25 of this Lease at least five (5) days before the time of sale. The proceeds from any such disposition less any and all expenses connected with the taking of possession, holding and selling of the property (including reasonable attorney's fees and other expenses), shall be applied as a credit against the indebtedness secured by the interest granted in this paragraph 21. Any surplus shall be paid to Tenant or as otherwise required by law; and Tenant shall pay any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only deficiencies forthwith. Upon request by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreoverLandlord, Debtor Tenant agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized execute and deliver to file a duplicate original or Xerox copy of this Lease as Landlord a financing statement with in form sufficient to perfect the Office 32 security interest of Landlord in the Secretary aforementioned property and proceeds thereof under the provisions of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in force in the State Commonwealth of TexasVirginia. This security agreement and The statutory lien for rent is not hereby waived, the security interest hereby created shall survive granted being in addition and supplementary thereto. Notwithstanding anything contained hereinabove to the termination contrary, Landlord hereby agrees to subordinate any lien on Tenant's personal property and trade fixtures located in the Office Space granted to Landlord by statute or by virtue of this Lease if such termination results from Debtor’s default. The above-described security interest to any current or future financing arrangements entered into by Tenant with respect to its personal property and lien are trade fixtures located in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such saleOffice Space.
Appears in 1 contract
Samples: Lease Amendment (Lightspan Inc)
LANDLORD'S LIEN. To In addition to the statutory landlord's lien, if any, Landlord shall have at all times a valid security interest to secure the performance payment of Tenant’s obligations under this Lease, all rentals and other sums of money becoming due hereunder from Tenant, as Debtorand to secure payment of any damage or loss which Landlord may suffer by reason of the breach by Tenant of any covenant, and referred to in this Section as “Debtor”agreement or condition contained herein, hereby grants to Landlord, as “Secured Party”, a security interest in and an express contractual lien upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, improvements and other personal property of Debtor Tenant presently or which is now on may hereafter be situated in the Premises or which is placed on the Premises at some later date, and all proceeds from therefrom (including proceeds of insurance), and such items. This property properly shall not be removed from the Premises therefrom without the consent of Secured Party Landlord until all arrearages in rent as well as any and all other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged, discharged and all the covenants, agreements, agreements and conditions of this Lease hereof have been fully complied with and performed by DebtorTenant. Secured Party Upon the occurrence of an event of default by Tenant, Landlord may, in addition to any other remedies provided herein, enter upon the Premises and take possession of any and all goods, wares, equipment, fixtures, furniture, improvements and other personal property of Tenant situated in the Premises, without liability for trespass or conversion, and sell the same at public or private sale, with or without having such property at the sale, after giving Tenant reasonable notice of the time and place of any public sale or of the time after which any private sale is authorized to be made, at which sale(s) Landlord or its assigns may purchase unless otherwise prohibited by law. Unless otherwise provided by law, and Debtor hereby irrevocably without intending to exclude any other manner of giving Tenant reasonable notice, the requirement of reasonable notice shall be met if such notice is given at least five (5) days before the time of sale. Such notice shall be deemed to be delivered if personally delivered or when deposited in the United States mail, postage prepaid, certified or registered mail (with or without return receipt requested), addressed to the parties hereto at the addresses as shown herein, whether or not actually received. The proceeds from any such disposition, less any and throughout all expenses connected with the term taking of this Lease possession; holding and selling of the property (including reasonable attorneys' fees and any extensions or renewals thereof) appoints Secured Party other expenses), shall be applied as its attorney-in-fact to prepare and file financing statements signed only a credit against the indebtedness secured by Secured Party as attorney-in-fact on behalf of Debtor covering the security described aboveinterest granted in this paragraph. Any surplus shall be paid to Tenant or as otherwise required by law; moreoverand Tenant shall pay any deficiencies forthwith. Upon request by Landlord, Debtor Tenant agrees to sign execute and deliver to Landlord a financing statement in form sufficient to perfect the same upon requestsecurity interest of Landlord in the aforementioned property and proceeds thereof under the provisions of the Uniform Commercial Code in force in the State of Texas. Notwithstanding The statutory lien for rent is not hereby waived, the foregoing, Secured Party is hereby authorized security interest herein granted being in addition and supplementary thereto. Landlord shall be entitled to file a duplicate original carbon, photographic or Xerox copy other reproduction of this Lease as a financing statement with the Office as is permitted under Section 9.402(a) of the Secretary of State Texas Business and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in the State of Texas. This security agreement and the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such saleCommerce Code.
Appears in 1 contract
Samples: Office Lease (Navarre Corp /Mn/)
LANDLORD'S LIEN. To XXXXXX xxxll have and is hereby granted a valid lien SUBORDINATE ONLY TO A FIRST LIEN CREATED IN FAVOR OF THE HEALTHCARE FINANCIAL PARTNER PURSUANT TO THE LOAN AND SECURITY AGREEMENT BETWEEN HEALTHCARE FINANCIAL PARTNERS AND THE COMPANY DOCTOR WHICH WAS AGREED TO APRIL 14,1997 on all goods, chattels, furniture fixtures, and equipment which Lessee may have on or own upon the said demised premises or which Lessee may have on or own thereon at any time during this lease as well as any such rights against such movable properties belonging to strangers as the Landlord may enjoy under the law as well as upon the proceeds of any insurance accruing to Lessee by reason of the destruction of or damage to any such personal property, to secure the performance all rent and other sums due or to become due Lessor hereunder, any and all exemption laws hereby being expressly waived in favor of Tenant’s said lien, and it is agreed that said expressed lien shall not be construed as a waiver of any statutory lien given or which may be given Lessor, but shall be additional thereto. The lien herein granted by Lessee to Lessor as distinguished from any statutory lien which Lessee may have is hereby subordinated by Lessor to any and all present or future mortgages which Lessee may grant covering any equipment purchased m order to make such purchase and covering inventory in order to finance purchase of said inventory, If said Lessor shall be in default or shall fail or refuse to perform or comply with any of Lessor's obligations under this Leaselease, TenantLessee, as Debtorafter giving Lessor notice in writing of such default failure or refusal and demand to remedy the same, and referred to in this Section as “Debtor”, hereby grants to Landlord, as “Secured Party”, a security interest in and an express contractual lien upon all of Debtor’s equipment, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, and other personal property of Debtor which is now on the Premises or which is placed on the Premises may at some later date, and all proceeds from such items. This property shall not be removed from the Premises without the consent of Secured Party until all arrearages in rent and all other sums of money being due to Secured Party under this Lease have been paid and discharged, and all the covenants, agreements, and conditions of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s Lessee's option, be immediately due and payable without notice if Lessor has not remedied said default failure or demand. In addition to all rights refusal within ten (10) days after receipt of said notice, exercise such right or remedies of Secured Party under this Lease and the lawremedy which Lessee may have, including the right to a judicial remedy the condition or nonjudicial foreclosurematter referred to in such notice, Secured Party if necessary, and Lessor agrees to reimburse Lessee for any expense reasonably incurred in connection with exercise of said right to remedy the condition or such expense or any part thereof at Lessee's option may be deducted in whole or in part from subsequent installments or rent; and in the event of any dispute between the parties as to the right of the Lessee any notice of default or termination of lease unless Lessee shall have all the rights and remedies fail to make good to Lessor for such deduction within ten (10) days after receipt of notice by Lessee of a secured party under the Uniform Commercial Code as enacted judgment in the State of Texas. This security agreement and the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are in addition to and cumulative favor of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such saleLessor.
Appears in 1 contract
Samples: Lease Agreement (Company Doctor)
LANDLORD'S LIEN. To secure the performance of Tenant’s obligations under this Lease, Tenant, as Debtor, and referred to in this Section as “Debtor”, hereby Tenant grants to Landlord, as “Secured Party”, Landlord a contractual security interest in and an express contractual lien upon on all of DebtorTenant’s equipment, furniture, furnishings, appliancesinventory, goods, trade fixtures, inventory, chattels, consumer goods and other personal property of Debtor which is equipment now on or hereafter situated in the Premises or which is placed on the Premises at some later date, and all proceeds from such itemstherefrom, including insurance proceeds (collectively, “Collateral”). This property No Collateral shall not be removed from the Premises without the Landlord’s prior written consent of Secured Party until all arrearages of Tenant’s obligations are fully satisfied (except in rent the ordinary course of business and all then only if replaced with items of same or greater value and quality). Upon any event of default, Landlord may, to the fullest extent permitted by Law and in addition to any other sums remedies provided herein, enter upon the Premises and take possession of money any Collateral without being due to Secured Party under this Lease have been paid and dischargedheld liable for trespass or conversion, and all sell the covenantssame at public or private sale, agreementsafter giving Tenant at least 10 days written notice (or more if required by Law) of the time and place of such sale. Such notice may be sent with or without return receipt requested. Unless prohibited by Law, any Landlord Party may purchase any Collateral at such sale. Subject to applicable Law, the proceeds from such sale, less Landlord’s expenses, including reasonable attorneys’ fees and conditions of this Lease have been fully complied with and performed other expenses, shall be credited against Tenant’s obligations. Any surplus shall be paid to Tenant (or as otherwise required by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (Law) and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact deficiency shall be paid by Tenant to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same Landlord upon requestdemand. Notwithstanding the foregoing, Secured Party is Tenant hereby authorized authorizes Landlord to file a duplicate original financing statement sufficient to perfect the foregoing security interest, or Xerox to file a copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are locatedstatement, as appropriatepermitted under Law. Upon default under this Lease by DebtorNotwithstanding the foregoing, Landlord’s security interest (i) shall not attach to any or all of Debtor’s obligations personal property subject to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies an existing perfected security interest (but only for so long as such other security interest exists) in favor of a secured party under the Uniform Commercial Code as enacted in the State of Texas. This bank or other Financial institution whose loan and security agreement and the agreements with Tenant prohibit any other liens on such collateral, but (ii) shall be subordinate to any such existing security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such saleinterests that do not prohibit subordinate liens.
Appears in 1 contract
LANDLORD'S LIEN. To secure A. In addition to and cumulative of any statutory or constitutional lien to which Lessor may be entitled, Lessor shall have a lien as security for rents and other covenants of Lessee herein on Lessee’s Property; provided, however, Lessor acknowledges and agrees that any statutory or constitutional liens of Lessor and the performance lien granted to Lessor pursuant to this Section 22 (collectively, “Lessor’s Liens”) are subordinate to any and all properly perfected liens now or hereafter held by any of TenantLessee’s obligations under this Leaselenders, Tenantincluding all renewals, as Debtormodifications, and referred extensions thereof. The subordination herein provided shall be self-operative and no further instrument of subordination shall be required; provided, however, within ten (10) business days following any request therefor, Lessor agrees to in this Section as “Debtor”, execute and deliver to Lessee or any of Lessee’s lenders any instrument reasonably requested to evidence such subordination. Lessor hereby grants to Landlord, as “Secured Party”, a security interest in and an express contractual lien upon all of Debtor’s equipment, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, and other personal property of Debtor which is now on the Premises or which is placed on the Premises at some later date, and all proceeds from such items. This property shall not be removed from the Premises without the consent of Secured Party until all arrearages in rent and all other sums of money being due to Secured Party under this Lease have been paid and discharged, and all the covenants, agreements, and conditions of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party Lessee as its true and lawful agent and attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney(“Attorney-in-fact on behalf Fact”) for the Lessor and in the Lessor’s name, place and stead for the sole purpose of Debtor covering executing and delivering all documents and to take such action as is deemed necessary to evidence subordination of Lessor’s Liens in the security event Lessor fails to execute and deliver such instrument as herein required. Additionally, Lessee shall be permitted to remove Lessee’s Property from the Leased Premises without Lessor’s consent free and clear of any Lessor’s Liens. If Lessee is in default under this Lease, or if Lessee abandons or vacates the Leased Premises, Lessor may enter upon the Leased Premises, by any means whatsoever, and take possession of all or any part of the Lessee’s Property, and store same at the expense of Lessee. Lessor will relinquish its possession of any of Lessee’s Property that is subject to a superior lien described above; moreoverabove upon the written request of the holder of such superior lien. Subject to the rights of superior lien holders, Debtor agrees Lessor may sell Lessee’s Property at a public or private sale to sign the same upon requesthighest bidder for cash thirty (30) days after written notice of such sale has been mailed to Lessee at its last known address. Notwithstanding The proceeds of any such sale shall be first applied by Lessor to the foregoing, Secured Party is hereby authorized cost of such sale and then to file a duplicate original or Xerox copy the payment of all sums due by Lessee to Lessor under the terms of this Lease. Any surplus shall be mailed to Lessee at its last known address. It is agreed that none of the above procedures shall necessitate prior judicial hearing.
B. This Lease is intended as and constitutes a security agreement within the meaning of the Texas Business and Commerce Code. Lessor, in addition to the rights prescribed in this Lease, but subject to the rights of superior lien holders (as described in subsection A above), shall have all of the rights, titles, liens, and interests in and to Lessee’s property, now or hereafter located upon the Leased Premises, which may be granted a secured party, as that term is defined, under the Texas Business and Commerce Code to secure to Lessor payment of all sums due and the full performance of all Lessee’s covenants under this Lease. Lessee will on request execute and deliver to Lessor a financing statement for the purpose of perfecting Lessor’s security interest under this Lease; if Lessee fails or refuses to do so, then Lessor may file this Lease or a copy thereof as a financing statement with the Office statement; such filing shall not be a violation of the Secretary Section 37 of State this Lease. Unless otherwise provided by law and with the appropriate county clerk’s office for the county where the Premises are locatedpurpose of exercising any right pursuant to this section, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, Lessor and Lessee agree that reasonable notice shall be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in the State of Texas. This security agreement and the security interest hereby created shall survive the termination of this Lease met if such termination results from Debtor’s default. The above-described security interest and lien are in addition notice is given by ten (10) days written notice, certified mail, return receipt requested, to and cumulative of Lessor or Lessee at the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such saleaddresses specified herein.
Appears in 1 contract
LANDLORD'S LIEN. To Lessee agrees that Lessor shall have a landlord’s lien, in, on and against all of Lessee’s right, title and interest in, to and under all Personalty (subject to the rights and interests of superior lienholders), which lien shall secure the performance payment of Tenant’s all Rental and other Monetary Obligations payable by Lessee to Lessor under the terms hereof and all other obligations of Lessee to Lessor under this Lease. Lessee agrees that Lessor may file such documents as Lessor then deems appropriate or necessary to perfect and maintain said lien (provided, Tenanthowever, as Debtorthat any such documents of perfection and/or maintenance shall include an express statement that Lessor’s lien is subordinate to any lien, security interest or other collateral rights in and to any Personalty granted by Lessee to any present or future lender), and referred expressly acknowledges and agrees that, in addition to in this Section as “Debtor”, hereby grants to Landlord, as “Secured Party”, a security interest in and an express contractual lien upon all of Debtor’s equipment, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, and other personal property of Debtor which is now on the Premises or which is placed on the Premises at some later date, and all proceeds from such items. This property shall not be removed from the Premises without the consent of Secured Party until all arrearages in rent any and all other sums of money being due to Secured Party under this Lease have been paid and discharged, and all the covenants, agreements, and conditions of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of Lessor whether hereunder or at Law or in equity, in the Event of Default of Lessee hereunder, Lessor shall have any and all rights and remedies (subject to the rights and interests of superior lienholders) granted a secured party under the Uniform Commercial Code as enacted then in effect in the State states where the Properties are located. Lessee covenants to promptly notify Lessor of Texasany changes in Lessee’s name and/or organizational structure which may necessitate the execution and filing of additional financing statements; provided, however, the foregoing shall not be construed as Lessor’s consent to such changes. This security agreement and the Lessor’s landlord’s lien granted hereunder is subordinate to any lien, security interest hereby created shall survive or other collateral rights in and to any Personalty granted by Lessee to any present or future lender. Lessor shall, promptly upon the termination request of this Lease if Lessee, enter into any written acknowledgement of such termination results subordination as Lessee’s lenders from Debtor’s default. The above-described security interest and lien are in addition time to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such saletime may require.
Appears in 1 contract
LANDLORD'S LIEN. To secure the performance of Tenant’s obligations under this LeaseIn addition to any statutory lien for Rent in Landlord's favor, Tenant, as Debtor, Landlord shall have and referred to in this Section as “Debtor”, Tenant hereby grants to Landlord, as “Secured Party”, Landlord a continuing security interest in for all rentals and an express contractual lien other sums of money becoming due hereunder from Tenant, upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattelsaccounts, contract rights, receivables, chattel paper and other personal property of Debtor which is now Tenant situated on the Premises or which is placed on the Premises at some later dateLeased Premises, and all proceeds from such items. This property shall not be removed there from the Premises without the consent of Secured Party Landlord until all arrearages arrearage in rent Rent as well as any and all other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged, and all . In the covenants, agreements, and conditions event of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by DebtorLease, any or all of Debtor’s obligations to Secured Party secured hereby shallLandlord shall have, at Secured Party’s option, be immediately due and payable without notice or demand. In in addition to any other remedies provided herein or by law, all rights or and remedies of Secured Party under this Lease the Texas Business and the lawCommerce Code, including without limitation the right to a judicial sell the property described in this paragraph at public or nonjudicial foreclosure, Secured Party private sale upon ten (10) days notice to Tenant. Tenant hereby authorizes Landlord to file financing statement(s) in form sufficient to perfect the security interest granted hereunder. Landlord shall have all the rights and remedies of a secured party under the Uniform Commercial Texas Business and Commerce Code as enacted and this lien and security interest may be foreclosed by process of law. The requirement of reasonable notice prior to any sale under Article 9 of the Texas Business and Commerce Code shall be met if such notice is given in the State manner prescribed herein at least ten (10) days before the day of Texassale. This security agreement and Any sale made pursuant to the security interest hereby created shall survive the termination provisions of this Lease Paragraph shall be deemed to have been a public sale conducted in a commercially reasonable manner if such termination results from Debtor’s defaultheld in the Leased Premises after the time, place and method of sale and a general description of the types of property to be sold have been advertised for ten (10) consecutive days prior to the date of sale in a daily newspaper published in the county in Texas where the Building is located. The above-described security interest and Any statutory lien are for Rent is not hereby waived, the express contractual lien herein granted being in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such salesupplementary thereto.
Appears in 1 contract
LANDLORD'S LIEN. To secure the performance payment of Tenant’s obligations under this Lease, all rent and other sums of money due or to become due hereunder from Tenant, as Debtor, and referred to in this Section as “Debtor”, Tenant hereby grants to Landlord, as “Secured Party”in addition to any statutory lien for rent in Landlord's favor, a continuing security interest in and an express contractual lien upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, and other personal property of Debtor which is Tenant now on the Premises or which is placed on the Premises hereafter situated at some later date2301 Xxxxxxxxx Xxxxx, Irving, Texas, and all proceeds from or products thereof, of whatever kind or type, including equipment, inventory, instruments, accounts, chattel paper or general intangibles, and the security interest shall continue in such itemsproperty and all proceeds and products regardless of location. This Such property shall not be removed from the Premises therefrom without the consent of Secured Party until Landlord, unless at the time of removal all arrearages in rent as well as any and all other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and dischargeddischarged in full. Upon an event of default, in addition to all other rights and remedies, Landlord shall have all rights and remedies under the covenantsUniform Commercial Code, agreementsincluding without limitation, the right to sell the property described in this Paragraph at public or private sale upon five (5) days notice by Landlord to Tenant at the 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. Landlord and conditions Tenant agree that pages 11 & 12 of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease agreement may serve as a financing statement with the Office and that a copy, photographic or other reproduction of the Secretary this portion of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease may be filed of record by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due Landlord and payable without notice or demandhave the same force and effect as the original. In addition to all rights or remedies of Secured Party under this This Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in the State of Texas. This security agreement and financing statement also covers those fixtures located at the security interest hereby created shall survive Premises described on Exhibit "A-1", attached hereto and incorporated herein by reference, (if an Exhibit A-1 is attached). This page, together with said Exhibit A, (if one is attached) may be filed for record in the termination appropriate real estate records. The record owner of this Lease if such termination results from Debtor’s defaultproperty is Landlord. The above[Remainder of Page Intentionally Left Blank] 56 BY: -------------------------------- PRINTED NAME: -------------------------------- TITLE: -------------------------------- ADDRESS: c/o THE INDUSTRIAL GROUP P.O. XXX 000000 XXXXXX, XX 00000-described security interest and lien are in addition to and cumulative 0000 TELEPHONE: 972-000-0000 FAX: 972-000-0000 XXECUTED BY TENANT, this 12th day of the Landlord’s lien provided by the laws of the State of TexasJune, 1998. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure saleTENANT: GLOBENET INTERNATIONAL I, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such sale.INC. A DELAWARE CORPORATION BY: /s/ CLINXXX X. XXXXXX --------------------------------- PRINTED NAME: Clinxxx X. Xxxxxx --------------------------------- TITLE: President --------------------------------- BY: --------------------------------- PRINTED NAME: --------------------------------- TITLE: ---------------------------------
Appears in 1 contract
Samples: Purchase and Sale Agreement (Royal Bodycare Inc/Nv)
LANDLORD'S LIEN. To In addition to any statutory Landlord's Lien, Landlord shall have, at all times, a valid security interest to secure the performance payment of Tenant’s obligations under this Leaseall Minimum Annual Rental, Additional Rent, and other sums of money becoming due hereunder from Tenant, as Debtorand to secure payment of any damages or loss which Landlord may suffer by reason of the breach by Tenant of any covenant, and referred to in this Section as “Debtor”agreement or condition contained herein, hereby grants to Landlord, as “Secured Party”, a security interest in and an express contractual lien upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishingstypes, appliances, goods, trade fixtures, inventory, chattels, improvements and other personal property of Debtor which is now on the Premises Tenant presently or which is placed on may hereinafter be situated in the Premises at some later dateDemised Premises, and all proceeds from therefrom, and such items. This property shall not be removed from the Premises therefrom without the consent of Secured Party Landlord until all arrearages in rent Minimum Annual Rental, Additional Rent, and all other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged, discharged and all of the covenants, agreements, and conditions of this Lease hereof have been fully complied with and performed by DebtorTenant. Secured Party In consideration of this Lxxxx, upon the occurrence of any event of default by Tenant, Landlord may, in addition to any other remedies provided herein, enter upon the Demised Premises and take possession of any and all goods, wares, equipment, fixtures, furniture, improvements and other personal property of Tenant situated on or in the Demised Premises, without liability for trespass or conversation, and sell the same at public or private sale, with or without having such property at the sale, after giving Tenant reasonable notice of the time and place or any public sale or of the time after which any private sale is authorized to be made, at which sale the Landlord or its assigns may purchase the above described Property unless otherwise prohibited by law. Unless otherwise provided by law, and Debtor hereby irrevocably and throughout without intending to exclude any other manner of giving Tenant reasonable notice, the term requirement of reasonable notice shall be met if such notice is given in the manner prescribed in Paragraph 20 of this Lease at least five (5) days before the time of sale. The proceeds from any such disposition, less any and any extensions or renewals thereofall expenses connected with the taking of possession and selling of the property (including reasonable attorney's fees and other expenses) appoints Secured Party shall be applied as its attorney-in-fact to prepare and file financing statements signed only a credit against the indebtedness secured by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreoverinterest granted in this Paragraph 29. Any surplus shall be paid to Tenant or as otherwise required by law, Debtor and Tenant shall pay any deficiencies upon demand. Upon request by Landlord, Tenant agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as execute xxx xxxivxx xx Landlord a financing statement with in form sufficient to perfect the Office security interest of Landlord in the Secretary aforementioned property and proceeds thereof under the provisions of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in force in the State state of TexasFlorida. This security agreement and Any statutory lien for Rent is not hereby waived, the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are herein granted being in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such salesupplementary thereto.
Appears in 1 contract
LANDLORD'S LIEN. To secure the performance of Tenant’s obligations under this LeaseIn addition to any statutory lien for rent in landlord's favor, Tenant, as Debtor, Landlord shall have and referred to in this Section as “Debtor”, tenant hereby grants to Landlord, as “Secured Party”, Landlord a continuing security interest in for all rentals and an express contractual lien other sums of money becoming due hereunder from Tenant, upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattelsaccounts, contract rights, chattel paper and other personal property of Debtor which is now Tenant situated on the Premises or which is placed on the Premises at some later date, premises subject to this Lease as described in Exhibit "A," and all proceeds from such items. This property shall not be removed from the Premises therefrom without the consent of Secured Party Landlord until all arrearages arrearage in rent as well as any and all other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged, and all . Products of collateral are also covered. In the covenants, agreements, and conditions event of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtorlease, any or all of Debtor’s obligations to Secured Party secured hereby shallLandlord shall have, at Secured Party’s option, be immediately due and payable without notice or demand. In in addition to all rights any other remedies provided herein or remedies of Secured Party under this Lease and the by law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code Code, including without limitation the right to sell the property described in this paragraph at public or private sale upon five (5) days notice to Tenant. Tenant hereby agrees to execute such financing statements and other instruments necessary or desirable in Landlord's discretion to perfect the security interest hereby created. Any statutory lien for rent is not hereby waived, the express contractual lien a copy or photographic or other reproduction of this portion of this lease may be filed of record by Landlord and have the same force and effect as enacted in the State of Texasoriginal. This security agreement and financing statement also covers fixtures located at the premises subject to this lease and legally described in Exhibit "A," attached hereto and incorporated herein by this reference, and is to be filed for record in the real estate records. The record owner of this property is the Tenant unless otherwise designated in writing to Landlord. Tenant warrants that the collateral subject to the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are in addition to and cumulative of the Landlord’s lien provided granted herein is not purchased or used by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial Tenant for personal, family or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such salehousehold purposes.
Appears in 1 contract
LANDLORD'S LIEN. To In addition to the statutory landlord's lien, --------------- Landlord shall have at all times a valid security interest to secure the performance payment of Tenant’s obligations under this Lease, all rentals and other sums of money becoming due hereunder from Tenant, as Debtorand to secure payment of any damage or loss which Landlord may suffer by reason of the breach by Tenant of any covenant, and referred to in this Section as “Debtor”agreement or condition contained herein, hereby grants to Landlord, as “Secured Party”, a security interest in and an express contractual lien upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, improvements and other personal property of Debtor Tenant presently or which is now on may hereafter be situated in the Premises or which is placed on the Premises at some later date, and all proceeds from therefrom, and such items. This property shall not be removed from the Premises therefrom without the consent of Secured Party Landlord until all arrearages in rent as well as any and all other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged, discharged and all the covenants, agreements, agreements and conditions of this Lease hereof have been fully complied with and performed by DebtorTenant. Secured Party Upon the occurrence of an event of default by Tenant, Landlord may, in addition of any other remedies provided herein, enter upon the Premises and take possession of any and all goods, wares, equipment, fixtures, furniture, improvements and other person property of Tenant situated in the Premises, without liability for trespass or conversion, and sell the same at public or private sale, with or without having such property at the sale, after giving Tenant reasonable notice of the time and place of any public sale or of the time after which any private sale is authorized to made, at which sale(s) Landlord or its assigns may purchase unless otherwise prohibited by law. Unless otherwise provided by law, and Debtor hereby irrevocably without intending to exclude any other manner of giving Tenant reasonable notice, the requirement of reasonable notice shall be met if such notice is given at least five (5) days before the time of sale. Such notice shall be deemed to be delivered if personally delivered or when deposited in the United States mail, postage prepaid, certified or registered mail (with or without return receipt requested), addressed to the parties hereto at the addresses as shown herein, whether or not actually received. The proceeds from any such disposition, less any and throughout all expenses connected with the term taking of this Lease possession, holding and selling of the property (including reasonable attorneys' fees and any extensions or renewals thereof) appoints Secured Party other expenses), shall be applied as its attorney-in-fact to prepare and file financing statements signed only a credit against the indebtedness secured by Secured Party as attorney-in-fact on behalf of Debtor covering the security described aboveinterest granted in this paragraph. Any surplus shall be paid to Tenant or as otherwise required by law; moreoverand Tenant shall pay any deficiencies forthwith. Upon request by Landlord, Debtor Tenant agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized execute and deliver to file a duplicate original or Xerox copy of this Lease as Landlord a financing statement with in form sufficient to perfect the Office security interest of Landlord in aforementioned property and proceeds thereof under the Secretary provisions of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in force in the State of Texas. This security agreement and The statutory lien for rent is not hereby waived, the security interest hereby created herein granted being in addition and supplementary thereto. Landlord shall survive the termination be entitled to file a carbon, photographic or other reproduction of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are in addition to and cumulative lease as a financing statement as is permitted under section 9.402(a) of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to Texas Business and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such saleCommerce Code.
Appears in 1 contract
Samples: Office Lease (Turbochef Inc)
LANDLORD'S LIEN. To In addition to any statutory landlord’s lien now in effect or hereafter enacted, Tenant grants to Landlord, to secure the performance of Tenant’s obligations under this Lease, Tenant, as Debtor, and referred to in this Section as “Debtor”, hereby grants to Landlord, as “Secured Party”hereunder, a security interest in and an express contractual lien upon all of DebtorTenant’s equipmentproperty situated in or upon, furnitureor used in connection with, furnishings, appliances, goods, trade fixtures, inventory, chattels, and other personal property of Debtor which is now on the Premises or which is placed on the Premises at some later dateProject, and all proceeds from such items. This property thereof (except merchandise sold in the ordinary course of business) (collectively, the “Collateral”), and the Collateral shall not be removed from the Premises or the Project without the prior written consent of Secured Party Landlord until all arrearages in rent and all other sums obligations of money being due to Secured Party under this Lease have been paid and discharged, and all the covenants, agreements, and conditions of this Lease Tenant have been fully complied with performed. Such personality thus encumbered includes specifically all trade and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout other fixtures for the term purpose of this Lease Section 20 and inventory, equipment, contract rights, accounts receivable and the proceeds thereof. Upon the occurrence of an Event of Default, Landlord may, in addition to all other remedies, without notice or demand except as provided below, exercise the rights afforded to a secured party under the Uniform Commercial Code of the state in which the Premises are located (the “UCC”). To the extent the UCC requires Landlord to give to Tenant notice of any act or event and such notice cannot be validly waived before a default occurs, then five (5) days’ prior written notice thereof shall be reasonable notice of the act or event. In order to perfect such security interest, Landlord may file any extensions financing statement or renewals thereof) appoints Secured Party as its attorney-in-fact other instrument necessary at Tenant’s expense at the state and county Uniform Commercial Code filing offices. Tenant grants to prepare Landlord a power of attorney to execute and file any financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering statement or other instrument necessary to perfect Landlord’s security interest under this Section 20, which power is coupled with an interest and is irrevocable during the security described above; moreover, Debtor agrees to sign the same upon requestTerm. Notwithstanding the foregoing, Secured Party is hereby authorized to Landlord may also file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted perfect its security interest in the State Collateral. Within ten (10) days following written request therefor, Xxxxxx shall execute financing statements to be filed of Texas. This security agreement and the record to perfect Landlord’s security interest hereby created in the Collateral. The landlord’s lien shall survive the expiration or earlier termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are in addition to and cumulative the Lease, until all obligations of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such salehave been fully performed.
Appears in 1 contract
LANDLORD'S LIEN. To In addition to any statutory landlord’s lien now in effect or hereafter enacted, Tenant grants to Landlord, to secure the performance of Tenant’s obligations under this Lease, Tenant, as Debtor, and referred to in this Section as “Debtor”, hereby grants to Landlord, as “Secured Party”hereunder, a security interest in and an express contractual lien upon all of DebtorTenant’s equipmentproperty situated in or upon, furnitureor used in connection with, furnishings, appliances, goods, trade fixtures, inventory, chattels, and other personal property of Debtor which is now on the Premises or which is placed on the Premises at some later dateLeased Premises, and all proceeds from such items. This property thereof (except merchandise sold in the ordinary course of business) (collectively, the “Collateral”), and the Collateral shall not be removed from the Leased Premises without the prior written consent of Secured Party Landlord until all arrearages in rent and all other sums obligations of money being due to Secured Party under this Lease have been paid and discharged, and all the covenants, agreements, and conditions of this Lease Tenant have been fully complied with performed. Such personalty thus encumbered includes specifically all trade and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout other fixtures for the term purpose of this Lease Section 9 and inventory, equipment. Upon the occurrence of an Event of Default, Landlord may, in addition to all other remedies, without notice or demand except as provided below, exercise the rights afforded to a secured party under the Uniform Commercial Code of the State of California (the “UCC”). To the extent the UCC requires Landlord to give to Tenant notice of any act or event and such notice cannot be validly waived before a default occurs, then ten (10) days’ prior written notice thereof shall be reasonable notice of the act or event. In order to perfect such security interest, Landlord may file any extensions financing statement or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare other instrument necessary at Tenant’s expense at the state and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon requestcounty Uniform Commercial Code filing offices. Notwithstanding the foregoing, Secured Party is hereby authorized to Landlord may also file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted perfect its security interest in the State Collateral. Within ten (10) days following written request therefor, Xxxxxx shall execute financing statements to be filed of Texas. This security agreement and the record to perfect Landlord’s security interest hereby created in the Collateral. The landlord’s lien shall survive the expiration or earlier termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are in addition to and cumulative the Lease, until all obligations of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such salehave been fully performed.
Appears in 1 contract
Samples: Funding Agreement
LANDLORD'S LIEN. To In addition to any statutory Landlord's Lien, Landlord shall have, at all times, a valid security interest to secure the performance payment of Tenant’s obligations under this Leaseall Minimum Annual Rental, Additional Rent, and other sums of money becoming due hereunder from Tenant, as Debtorand to secure payment of any damages or loss which Landlord may suffer by reason of the breach by Tenant of any covenant, and referred to in this Section as “Debtor”agreement or condition contained herein, hereby grants to Landlord, as “Secured Party”, a security interest in and an express contractual lien upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishingstypes, appliances, goods, trade fixtures, inventory, chattels, improvements and other personal property of Debtor which is now on the Premises Tenant presently or which is placed on may hereinafter be situated in the Premises at some later dateDemised Premises, and all proceeds from therefrom, and such items. This property shall not be removed from the Premises therefrom without the consent of Secured Party Landlord until all arrearages in rent Minimum Annual Rental, Additional Rent, and all other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged, discharged and all of the covenants, agreements, and conditions of this Lease hereof have been fully complied with and performed by DebtorTenant. Secured Party In consideration of this Lease, upon the occurrence of any event of default by Tenant, Landlord may, in addition to any other remedies provided herein, enter upon the Demised Premises and take possession of any and all goods, wares, equipment, fixtures, furniture, improvements and other personal property of Tenant situated on or in the Demised Premises, without liability for trespass or conversation, and sell the same at public or private sale, with or without having such property at the sale, after giving Tenant reasonable notice of the time and place of any public sale or of the time after which any private sale is authorized to be made, at which sale the Landlord or its assigns may purchase the above described Property unless otherwise prohibited by law. Unless otherwise provided by law, and Debtor hereby irrevocably and throughout without intending to exclude any other manner of giving Tenant reasonable notice, the term requirement of reasonable notice shall be met if such notice is given in the manner proscribed in Paragraph 20 of this Lease at least five (5) days before the time of sale. The proceeds from any such disposition, less any and any extensions or renewals thereofall expenses connected with the taking of possession and selling of the property (including reasonable attorney's fees and other expenses) appoints Secured Party shall be applied as its attorney-in-fact to prepare and file financing statements signed only a credit against the indebtedness secured by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreoverinterest granted in this Paragraph 29. Any surplus shall be paid to Tenant or as otherwise required by law, Debtor and Tenant shall pay any deficiencies upon demand. Upon request by Landlord, Tenant agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized execute and deliver to file a duplicate original or Xerox copy of this Lease as Landlord a financing statement with in form sufficient to perfect the Office security interest of Landlord in the aforementioned property and proceeds thereof under the provisions of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform uniform Commercial Code as enacted in force in the State of TexasFlorida. This security agreement and Any statutory lien for Rent is not hereby waived, the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are herein granted being in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such salesupplementary thereto.
Appears in 1 contract
Samples: Lease Extension Agreement (National Auto Finance Co Inc)
LANDLORD'S LIEN. To secure In addition to any statutory lien for rent in Landlord's favor, Landlord (the performance of Tenant’s obligations under this Lease, Tenant, as Debtor, secured party for purposes hereof) shall have and referred to in this Section as “Debtor”, Tenant (the debtor for purposes hereof) hereby grants to Landlord, as “Secured Party”, an express contract lien and a continuing security interest in and an express contractual lien to secure the payment of all Rent due hereunder from Tenant, upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattelsaccounts, contract rights, chattel paper and other personal property of Debtor which is now Tenant (and any transferees or other occupants of the Premises) presently or hereafter situated on the Premises or which is placed on the Premises at some later date, and upon all proceeds from of any insurance which may accrue, to Tenant by reason of damage or destruction of any such itemsproperty. This property shall not be removed from In the Premises without the consent event of Secured Party until all arrearages in rent and all other sums of money being due to Secured Party under this Lease have been paid and discharged, and all the covenants, agreements, and conditions of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by DebtorLease, any or all of Debtor’s obligations to Secured Party secured hereby shallLandlord shall have, at Secured Party’s option, be immediately due and payable without notice or demand. In in addition to all rights any other remedies provided herein or remedies of Secured Party under this Lease and the by law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted of the state in which the State of TexasPremises is located, including without limitation the right to sell the property described in this paragraph at public or private sale upon ten (10) days notice to Tenant, which notice Tenant hereby agrees is adequate and reasonable. This Tenant hereby agrees to execute such other instruments necessary or desirable in Landlord's discretion to perfect the security agreement interest hereby created. Any statutory lien for rent is not hereby waived, the express contractual lien herein granted being in addition and supplementary thereto. Landlord and Tenant agree that this Lease and the security interest hereby created shall survive the termination granted herein serve as a financing statement, and a copy or photographic or other reproduction of this Paragraph of this Lease if such termination results from Debtor’s defaultmay be filed of record by Landlord and have the same force and effect as the original. The above-described Tenant warrants and represents that the collateral subject to the security interest granted herein is not purchased or used by Tenant for personal, family or household purposes. Tenant further warrants and represents to Landlord that the lien are in addition to granted herein constitutes a first and cumulative superior lien and that Tenant will not allow the placing of any other lien upon any of the property described in this Article without the prior written consent of Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such sale.
Appears in 1 contract
Samples: Office Lease (Symbion Inc/Tn)
LANDLORD'S LIEN. To secure Landlord shall have a first lien and security interest, paramount to all others, on every right and interest, of Tenant in and to this Lease, and upon any improvements which may hereafter be placed on the Leased Premises, and on any furnishings and equipment, including fixtures or personal property of every kind thereon, which lien and security interest is granted for the purpose of securing the performance of each and every of the covenants, conditions and obligations of this Lease to be performed and observed by Tenant’s obligations under this Lease, . Landlord shall have at all times a valid lien for all Rent and other sums of money becoming due hereunder from Tenant, as Debtor, and referred to in this Section as “Debtor”, hereby grants to Landlord, as “Secured Party”, a security interest in and an express contractual lien upon all of Debtor’s equipment, furniture, furnishings, appliances, goods, trade fixtureswares, inventory, chattelsequipment, fixtures, furniture and other personal property and effects of Debtor which is now Tenant situated on the Premises or which is placed on the Premises at some later dateLeased Premises, and all proceeds from such items. This property shall not be removed from the Premises therefrom without the consent of Secured Party Landlord until all arrearages arrearage in rent and all other sums of money being due to Secured Party under this Lease Rent shall first have been paid and discharged. Upon the occurrence of an Event of Default by Tenant, Landlord may, in addition to any other remedies provided herein or by law, enter upon the Leased Premises and take possession of any and all goods, wares, equipment, fixtures, furniture and other personal property and effects of Tenant situated on the Leased Premises without liability for trespass or conversion, and all sell the covenantssame at public or private sale, agreementswith or without having such property at the sale, at which Landlord or his assigns may purchase, and conditions apply the proceeds thereof, less any and all expenses connected with the taking of this Lease have been fully complied with possession and performed sale of the property, as a credit against any sums due by Debtor. Secured Party is authorized Tenant and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor Tenant agrees to sign pay any deficiency forthwith. Tenant agrees Please Initial: Landlord: /s/ [illegible] -------------------- Tenant: /s/ [illegible] ---------------------- 22 that the same upon request. Notwithstanding the foregoingsaid lien and security interest may be enforced by distress, Secured Party is hereby authorized to file a duplicate original foreclosure or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shallotherwise, at Secured Party’s optionthe election of Landlord, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party that Landlord shall have all of the rights and remedies of a secured party under the Uniform Commercial Code Code, and that Tenant shall execute such financing statements as enacted in the State of Texasshall be necessary to perfect such interest. This security agreement The statutory lien for rent, if any, is not hereby waived and the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and express contractual lien are herein granted is in addition to thereto and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such salesupplementary thereto.
Appears in 1 contract
Samples: Lease Agreement (Spanish Broadcasting System of Puerto Rico Inc /Pr/)
LANDLORD'S LIEN. To secure the performance of Tenant’s obligations under this LeaseIn addition to any statutory lien for rent in Landlord's favor, Tenant, as Debtor, Landlord shall have and referred to in this Section as “Debtor”, Tenant hereby grants to Landlord, as “Secured Party”, Landlord a continuing security interest in for all rentals and an express contractual lien other sums of money becoming due hereunder from Tenant, upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattelsaccounts, contract rights, chattel paper and other personal property of Debtor Tenant situated on the premises subject to this Lease, which is now on the Premises or which is placed on the Premises located at some later date_____ Markison Road, and all proceeds from such items. This property shall not be removed from the Premises therefrom without the consent of Secured Party Landlord until all arrearages in rent well as any and all other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged. Products of collateral are also covered. In the event of a default under this lease, Landlord shall have, in additions to any other remedies provided herein or by law, all rights and all remedies under the covenantsUniform Commercial Code, agreementsincluding without limitation the right to sell the property described in this paragraph at public or private sale upon five (5) days notice to Tenant. Tenant hereby agrees to execute such other instruments necessary or desirable in Landlord's discretion to perfect the security interest hereby created. Any statutory lien for rent is not hereby waived, the express contractual lien herein granted being in addition and conditions of supplementary thereto. Landlord and Tenant agree that this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease agreement serves as a financing statement with the Office and that a copy or photographic or other reproduction of the Secretary this portion of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease may be filed of record by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due Landlord and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease have the same force and effect as the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in the State of Texasoriginal. This security agreement and financing statement also covers fixtures located at the premises subject to thus Lease and legally described in Exhibit "A", attached hereto and incorporated herein by this reference, and is to filed for record in the real estate records. The record owner of this property is Xxxxxxxx Xxxx Company. Tenant warrants that the collateral subject to the security interest hereby created shall survive the termination granted herein is not purchased or used by Tenant for personal, family or household purposes. EXECUTED BY LANDLORD, this ___ day of this Lease if such termination results from Debtor’s default____________, 19__. The aboveAttest/Witness XXXX-described security interest and lien are in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure saleXXXXXXXX 22-27, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such saleLIMITED PARTNERSHIP __________________________________ By_________________________________ Xxxxxxx X. XxXxxxx, Xx.
Appears in 1 contract
Samples: Lease Agreement (Aetrium Inc)
LANDLORD'S LIEN. To secure In addition to any statutory lien for rent in Landlord's favor, Landlord (the performance of Tenant’s obligations under this Lease, Tenant, as Debtor, secured party for purposes hereof) shall have and referred to in this Section as “Debtor”, Tenant (the debtor for purposes hereof) hereby grants to Landlord, as “Secured Party”subject to the last sentence of this paragraph, a continuing security interest in for all Base Rental, rent and an express contractual lien other sums of money becoming due hereunder from Tenant, upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattelsaccounts, contract rights, chattel paper and other personal property of Debtor which is now Tenant situated on the Premises or subject to this Lease being described as Suite 500 of the Building, located in Dallas, Dallas County, Texas (a description of the property in and upon which is placed on the Premises at some later dateis located and an outline of the Premises are attached hereto as EXHIBIT "A" and EXHIBIT "B" respectively), and all proceeds from such items. This property shall not be removed from the Premises therefrom without the consent of Secured Party Landlord until all arrearages in rent as well as any and all other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged, and all the covenants, agreements, and conditions of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where Fixtures located at the Premises and products of collateral are located, as appropriate. Upon default under this Lease also covered hereby by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted filing hereof in the State real property records of Texas. This security agreement and the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Dallas County, Texas. In the event of a default under this Lease, Landlord sells Tenant’s shall have, in addition to any other remedies provided herein or by law, all rights and remedies under the Uniform Commercial Code, including without limitation the right to sell the property described in this Paragraph at a judicial public or nonjudicial foreclosure sale, private sale upon ten (10) days notice to Tenant which notice Tenant hereby expressly consents agrees is adequate and reasonable. Tenant hereby agrees to execute such other instruments necessary or desirable in Landlord's discretion to perfect the security interest hereby created. Any statutory lien for rent is not hereby waived, the express contractual lien herein granted being in addition and gives supplementary thereto. Landlord and Tenant agree that this Lease and the authority security interest granted herein serve as a financing statement and a copy or photographic or other reproduction of this Paragraph of this Lease may be filed of record by Landlord and have the same force and effect as the original. Tenant warrants and represents that the collateral subject to bid the security interest granted herein is not purchased or used by Tenant for personal, family or household purposes. Tenant further warrants and represents to Landlord that the lien granted herein constitutes a first and superior lien and that Tenant will not allow the placing of any other lien upon any of the property described in this Paragraph without the prior written consent of Landlord. Record owner of the Premises is 14850 Quorum Associates, Ltd. Tenant/Debtor's address is 00000 XXXXXX XXXXX, XXXXX 000, XXXXXX, XXXXX 00000 and Landlord/Secured Party's address is C/X XXXXXX BROTHERS, 3 WORLD FINANCIAL XXXXXX, 00XX XXXXX, XXX XXXX, XX 00000. Landlord, on and purchase all or a portion case-by case basis, not as a blanket waiver of lien, will subordinate the landlord's lien granted in this paragraph to the lien of Tenant’s property at such sale's lending institution on any furniture, fixtures or equipment after Landlord is presented proper documentation of that lending institution's lien on said furniture, fixtures and equipment.
Appears in 1 contract
LANDLORD'S LIEN. To secure the performance payment of Tenant’s obligations under this Lease, all rent and other sums of money due or to become due hereunder from Tenant, as Debtor, and referred to in this Section as “Debtor”, Tenant hereby grants to Landlord, as “Secured Party”in addition to any statutory lien for rent in Landlord's favor, a continuing security interest in and an express contractual lien upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, and other personal property of Debtor which is Tenant now on the Premises or which is placed on the Premises hereafter situated at some later date2301 Xxxxxxxxx Xxxxx, Irving, Texas, and all proceeds from or product- thereof, of whatever kind or type, including equipment, inventory, instruments, accounts, chattel paper or general intangibles, and the security interest shall continue in such itemsproperty and all proceeds and products regardless of location. This Such property shall not be removed from the Premises therefrom without the consent of Secured Party until Landlord, unless at the time of removal all arrearages in rent as well as any and all other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and dischargeddischarged in full. Upon an event of default, in addition to all other rights and remedies, Landlord shall have all rights and remedies under the covenantsUniform Commercial Code, agreementsincluding without limitation, the right to sell the property described in this Paragraph at public or private sale upon five (5) days notice by Landlord to Tenant at the 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. Landlord and conditions Tenant agree that pages 11 & 12 of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease agreement may serve as a financing statement with the Office and that a copy, photographic or other reproduction of the Secretary this portion of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease may be filed of record by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due Landlord and payable without notice or demandhave the same force and effect as the original. In addition to all rights or remedies of Secured Party under this This Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in the State of Texas. This security agreement and financing statement also covers those fixtures located at the security interest hereby created shall survive Premises described on Exhibit "A-1", attached hereto and incorporated herein by reference, (if an Exhibit A-1 is attached). This page, together with said Exhibit A, (if one is attached) may be filed for record in the termination appropriate real estate records. The record owner of this Lease if such termination results from Debtor’s defaultproperty is Landlord. The aboveEXECUTED BY LANDLORD, this 19th day of June, 1998. CIIF ASSOCIATES II LIMITED PARTNERSHIP a Delaware limited partnership BY: AEW ADVISORS, INC., a Massachusetts corporation (formerly known as COPLXX XXXISORS, INC.), Its: Managing General Partner BY: /s/ MARK X. XXXXXXXXX ---------------------------------------- PRINTED NAME: Mark X. Xxxxxxxxx ---------------------------------------- TITLE: Vice President ---------------------------------------- BY: ---------------------------------------- PRINTED NAME: ---------------------------------------- TITLE: ---------------------------------------- ADDRESS: C/O XXX XXXXXXXXXX XXXXX X.0. Xxx 000000 XXXXXX, XX 00000-described security interest and lien are in addition to and cumulative 0000 TELEPHONE: 972-000-0000 FAX: 972-000-0000 EXECUTED BY TENANT, this 12th day of the Landlord’s lien provided by the laws of the State of TexasJune, 1998. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure saleTENANT GLOBENET INTERNATIONAL I, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such sale.INC. A DELAWARE CORPORATION BY: /s/ CLINXXX X. XXXXXX ---------------------------------------- PRINTED NAME: Clinxxx X. Xxxxxx ---------------------------------------- TITLE: President ---------------------------------------- BY: ---------------------------------------- PRINTED NAME: ---------------------------------------- TITLE: ----------------------------------------
Appears in 1 contract
LANDLORD'S LIEN. To secure In addition to the performance of Tenant’s obligations under this Leasestatutory Landlord's Lien, Tenant, as Debtor, and referred to in this Section as “Debtor”, hereby grants to Landlord, as “Secured Party”, Landlord shall have at all times a valid security interest in to secure payment of all Rent and an express contractual lien other sums of money becoming due hereunder from Tenant and to secure payment of any damages or loss which Landlord may suffer by reason of the breach by Tenant of any covenant agreement or condition contained herein. Such security interests shall be upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, improvements and other personal property of Debtor which is now on the Premises Tenant presently located in, or which is placed on may hereafter be situated in the Premises at some later datePremises, and all proceeds from therefrom, and such items. This property shall not be removed from the Premises therefrom without the consent of Secured Party Landlord until all arrearages arrearage in rent rental as well as any and all other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged, discharged and all the covenants, agreements, agreements and conditions of this Lease hereof have been fully complied with and performed by DebtorTenant. Secured Party is authorized Tenant agrees and Debtor hereby irrevocably and throughout the term of acknowledges that this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease Agreement also serves as a financing statement with the Office security agreement under Chapter 679 of the Secretary Florida Statutes (Article 9 of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code Code) to impose a lien upon the Lien Property to secure the payment of all rentals, charges and other sums to be paid by Tenant and reserved hereunder and Tenant agrees to execute, acknowledge and deliver to Landlord such financing statements and other instruments as enacted Landlord may request in order to commemorate the foregoing within ten (10) days after Landlord's request therefore. Upon the occurrence of an event of default by Tenant, Landlord may, to the extent permitted by law and in addition to any other remedies provided herein, enter upon the Premises and possession of any and all goods, wares, equipment, fixtures, furniture, improvements and other personal property of Tenant situated in the State Premises, without liability for trespass or conversion, and sell the same at public or private sale, with or without having such property at the sale, after giving Tenant reasonable notice of Texasthe time and place of any Public sale or of the time after which any private sale is to be made, at which sale Landlord or Landlord's assigns may purchase such property, unless otherwise prohibited by law. This security agreement Unless otherwise provided by law, and without intending to exclude any other manner of giving Tenant reasonable notice, the requirement of reasonable notice shall be met if such notice is given in the manner prescribed in this Lease Agreement at least ten (10) days prior to the time of sale. Any sale made pursuant to the provisions of this paragraph shall be deemed to have been a public sale conducted in a commercially reasonable manner if held in the Premises or wherever else the property may be located, after the time, place and method of sale and a general description of the types of property to be sold, have been advertised in a daily newspaper published in the county in which the Building is located, for five (5) consecutive days before the date of the sale. The proceeds from any such disposition, less any and all expenses connected with the taking of possession, holding and selling of the property (including reasonable attorneys' fees) shall be applied as a credit against the indebtedness secured by the security interest hereby created granted in this paragraph. Any surplus shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are in addition be paid to and cumulative of Tenant as otherwise required by law or Tenant shall pay any deficiencies forthwith to the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such sale.
Appears in 1 contract
LANDLORD'S LIEN. To secure 31.1. Tenant grants to Landlord a lien upon and a security interest in, as security for the performance of Tenant’s obligations obligations, Tenant’s existing or hereafter acquired personal property, furniture, fixtures, and equipment which are located in the Premises or used in connection with the business to be conducted in the Premises (collectively “Personal Property”). Such lien shall be in addition to all rights of distraint available under applicable law. Within fifteen (15) days after Landlord’s request, Tenant shall execute, acknowledge and deliver to Landlord a financing statement and any other document submitted to Tenant evidencing or establishing such lien and security interest. During any period Tenant is in Event of Default under this Lease, Tenant, as Debtor, and referred to in this Section as “Debtor”, hereby grants to Landlord, as “Secured Party”, a security interest in and an express contractual lien upon all of Debtor’s equipment, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, and other personal property of Debtor which is now on the Premises or which is placed on the Premises at some later date, and all proceeds from such items. This property Tenant shall not be removed sell, transfer or remove from the Premises without such Personal Property. Landlord may, at any time after Event of Default in the consent payment of Secured Party until all arrearages in rent or Event of Default of other obligations, seize and take possession of any and all other sums Personal Property belonging to Tenant which may be found in and upon the Premises. If Tenant fails to redeem the Personal Property so seized, by payment of money being whatever sum may be due Landlord under and by virtue of the provisions of this Lease, then and in that event, Landlord shall have the right, after twenty (20) days’ written notice to Tenant of its intention to do so, to sell such Personal Property so seized at public or private sale and upon such terms and conditions as to Landlord may appear advantageous, and after the payment of charges incident to such sale, including storage charges, if any, apply the proceeds thereof to the payment of any balance due to Secured Party under Landlord on account of rent or other obligations of Tenant pursuant to this Lease have been paid and discharged, and all the covenants, agreements, and conditions of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in the State of Texas. This security agreement and the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are in addition to and cumulative of the Landlord’s lien provided by the laws of the State of TexasLease. In the event there shall then remain in the hands of Landlord sells any balance realized from the sale of said Personal Property as aforesaid, the same shall be paid over to Tenant’s property at a judicial . The exercise of the foregoing remedy by Landlord shall not relieve or nonjudicial foreclosure sale, discharge Tenant hereby expressly consents from any deficiency owed to and gives Landlord that Landlord has the authority right to bid on and purchase all or a portion enforce pursuant to any other provisions of Tenant’s property at such salethis Lease.
Appears in 1 contract
LANDLORD'S LIEN. To In addition to any statutory Landlord's Lien, Landlord shall have, at all times, a valid security interest to secure the performance payment of Tenant’s obligations under this Leaseall Minimum Annual Rental, Additional Rent, and other sums of money becoming due hereunder from Tenant, as Debtorand to secure payment of any damages or loss which Landlord may suffer by reason of the breach by Tenant of any covenant, and referred to in this Section as “Debtor”agreement or condition contained herein, hereby grants to Landlord, as “Secured Party”, a security interest in and an express contractual lien upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishingstypes, appliances, goods, trade fixtures, inventory, chattels, improvements and other personal property of Debtor which is now on the Premises Tenant presently or which is placed on may hereinafter be situated in the Premises at some later dateDemised Premises, and all proceeds from therefrom, and such items. This property shall not be removed from the Premises therefrom without the consent of Secured Party Landlord until all arrearages in rent Minimum Annual Rental, Additional Rent, and all other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged, discharged and all of the covenants, agreements, and conditions of this Lease hereof have been fully complied with and performed by DebtorTenant. Secured Party In consideration of this Lxxxx, upon the occurrence of any event of default by Tenant, Landlord may, in addition to any other remedies provided herein, enter upon the Demised Premises and take possession of any and all goods, wares, equipment, fixtures, furniture, improvements and other personal property of Tenant situated on or in the Demised Premises, without liability for trespass or conversation, and sell the same at public or private sale, with or without having such property at the sale, after giving Tenant reasonable notice of the time and place of any public sale or of the time after which any private sale is authorized to be made, at which sale the Landlord or its assigns may purchase the above described Property unless otherwise prohibited by law. Unless otherwise provided by law, and Debtor hereby irrevocably and throughout without intending to exclude any other manner of giving Tenant reasonable notice, the term requirement of reasonable notice shall be met if such notice is given in the manner prescribed in Paragraph 20 of this Lease at least five (5) days before the time of sale. The proceeds from any such disposition, less any and any extensions or renewals thereofall expenses connected with the taking of possession and selling of the property (including reasonable attorneys fees and other expenses) appoints Secured Party shall be applied as its attorney-in-fact to prepare and file financing statements signed only a credit against the indebtedness secured by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreoverinterest granted in this Paragraph 29. Any surplus shall be paid to Tenant or as otherwise required by law, Debtor and Tenant shall pay any deficiencies upon demand. Upon request by Landlord, Tenant agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as execute xxx xxxivxx xx Landlord a financing statement with in form sufficient to perfect the Office security interest of Landlord in the Secretary aforementioned property and proceeds thereof under the provisions of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in force in the State of TexasFlorida. This security agreement and Any statutory lien for Rent is not hereby waived, the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are herein granted being in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such salesupplementary thereto.
Appears in 1 contract
LANDLORD'S LIEN. To secure In addition to any statutory lien for the performance of Tenant’s obligations under this Leaserent in Landlord's favor, Tenant, as Debtor, Landlord shall have and referred to in this Section as “Debtor”, Tenant hereby grants to Landlord, as “Secured Party”, Landlord a continuing security interest in for all rentals and an express contractual lien other sums of money due or which may become due hereunder from Tenant, upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, inventory and other personal property of Debtor which is the Tenant now on or hereafter situated as fixtures, furniture, inventory and other personal property of the Premises Tenant now or which is placed on the Premises hereafter situated at some later date2220 W. 14TH STREET TEMPE, ARIZONA, and all proceeds from such items. This property shall not be removed from the Premises without the consent rxxxxxx xxxxxxxxx xxxxxxx xxx xxxxxnt of Secured Party Landlord until all arrearages in rent as well as any and all other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged. (Note: Landlord acknowledges that certain goods, wares, equipment, fixtures, furniture, inventory and other personal property located in the Premises may belong to parties other than Tenant and that the foregoing lien does not attach thereto.) In the event any of the foregoing described property is removed from the Premises in violation of the covenant in the preceding sentence, the security interest shall continue in such property and all the covenantsproceeds and products, agreements, and conditions regardless of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriatelocations. Upon a default under this Lease hereunder by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In Tenant in addition to all other rights or remedies of Secured Party under this Lease and the lawremedies, including the right to a judicial or nonjudicial foreclosure, Secured Party Landlord shall have all the xxxx xll rights and remedies of a secured party under the Uniform Commercial Code Code, including without limitation, the right to sell the property described in this Paragraph at public or private sale upon five (5) days notice by Landlord. Tenant hereby agrees to execute such other instruments, necessary or desirable under applicable law to perfect the security interest hereby created. Landlord and Tenant agree that this Lease and security agreement serves as enacted in a finaxxxxx 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 State of Texassame force and effect as the original. This security agreement and financing statement also covers fixtures located at the security interest hereby created shall survive Premises subject to this Lease and legally described in Exhibit "A" attached hereto and incorporated herein by reference and is to be filed for record in the termination real estate records. The record owner of this Lease if property is BEL DE MAR, L.L.C., AN ARIZONA LIMITED LIABILITY COMPANY. OPTIONS. SUBJECT TO THE TENANT'S TIMELY COMPLIANCE WITH ALL PROVISIONS OF THIS LEASE INCLUDING, BUT NOT LIMITED TO, THE PAYMENT OF BASE RENT AND ALL OTHER PAYMENTS REQUIRED UNDER THIS LEASE AND PROVIDED TENANT IS NOT, AND NEVER HAS BEEN, IN DEFAULT UNDER THE TERMS OF THIS LEASE AND IS PRESENTLY NOT SUB-LETTING ALL OF THE PREMISES THEN LANDLORD HEREBY GRANTS TO TENANT THE FOLLOWING OPTIONS TO EXTEND THIS LEASE: TENANT SHALL HAVE TWO (2) OPTIONS TO EXTEND THIS LEASE EACH FOR A PERIOD OF THIRTY-SIX (36) MONTHS EACH BY PROVIDING LANDLORD WITH WRITTEN NOTICE ONE HUNDRED FIFTY 150 ) DAYS BEFORE THE EXPIRATION OF THE THEN EXISTING TERM OF THE LEASE. THE BASE RENT FOR THE FIRST TWELVE (12) MONTHS OF THE FIRST OPTION PERIOD SHALL BE EIGHT THOUSAND SIX HUNDRED SEVENTY-ONE AND 00/100 DOLLARS ($8,671.00) PER MONTH, EIGHT THOUSAND NINE HUNDRED THIRTY-SEVEN AND 00/100 DOLLARS ($8,937.00) PER MONTH FOR THE SECOND TWELVE (12) MONTHS, AND NINE THOUSAND TWO HUNDRED FOUR AND 00/100 DOLLARS ($9,204.00) per month for the last twelve (12) months. Base Rent for the second option period shall be at a rent negotiated by the parties at the time the prevailing market rates for similarly available space. If the Landlord and Tenant cannot agree on the prevailing market rates, such termination results from Debtor’s defaultrates shall be determined by an independent third party market survey in accordance with commercial real estate standard practices. The above-described security Parties acknowledge and agree that the foregoing options are personal to Limelight Mainstreet Tempe, LLC, and are not assignable by Limelight Mainstreet Tempe, LLC without the prior, written consent of Landlord, which consent may be granted or withheld by Landlord in Landlord's sole discretion. (Note: Landlord's written consent to an assignment of Tenant's interest and lien are in addition to and cumulative xxx xx xhis Lease shall not, unless otherwise exxxxxxly stated, be deemed an assignment of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such saleforegoing options.)
Appears in 1 contract
LANDLORD'S LIEN. To secure the performance In addition to any applicable common law or statutory lien, none of Tenant’s obligations under this Leasewhich are to be deemed waived by Landlord, TenantLandlord shall have, as Debtorat all times, and referred to in this Section as “Debtor”, Tenant has or shall hereby grants grant to Landlord, as “Secured Party”, a valid lien and security interest in to secure payment of all rentals and an express contractual lien other sums of money becoming due hereunder from Tenant, and to secure payment of any damages or loss which Landlord may suffer by reason of the breach by Tenant of any covenant, agreement or condition contained herein, upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, improvements and other personal property of Debtor Tenant which is now may hereafter be situated on the Premises or which is placed on the Premises at some later datePremises, and all proceeds from therefrom, and such items. This property shall not be removed from the Premises therefrom without the consent of Secured Party Landlord until all arrearages arrearage in rent Rent as well as any and all other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged, discharged and all the covenants, agreements, agreements and conditions of this Lease hereof have been fully complied with and performed by DebtorTenant. Secured Party Landlord covenants and agrees to subordinate the lien granted hereunder to any commercial lender which Tenant grants a security interest. Upon the occurrence of an Event of Default by Tenant, but subject to Tenant's lender rights, if any, after the expiration of all stated notice and cure periods, Landlord may, in addition to any other remedies provided herein, peaceably enter upon the Premises and take possession of any and all goods, wares, equipment, fixtures, furniture, improvements and other personal property of Tenant situated on the Premises, without liability for trespass or conversion, and sell the same at public or private sale, with or without having such property at the sale, after giving Tenant reasonable notice of time and place of any public sale or of the time after which any private sale is authorized to be made, at which sale Landlord or its assigns may purchase unless otherwise prohibited by law. Unless otherwise provided by law, and Debtor hereby irrevocably and throughout without intending to exclude any other manner of giving Tenant reasonable notice, the term requirement of reasonable notice shall be met if such notice is given in the manner prescribed in Article 28 of this Lease at least five (5) days before the time of sale. The proceeds from any such disposition, less all expenses connected with the taking of possession, holding and any extensions or renewals thereof) appoints Secured Party selling of the property (including reasonable attorney's fees and other expenses), shall be applied as its attorney-in-fact to prepare and file financing statements signed only a credit against the indebtedness secured by Secured Party as attorney-in-fact on behalf of Debtor covering the security described aboveinterest granted in this Article 23. Any surplus shall be paid to Tenant or as otherwise required by law; moreoverand Tenant shall pay any deficiencies forthwith. Upon request by Landlord, Debtor Tenant agrees to sign execute and deliver to Landlord a financing statement in form sufficient to perfect the same upon requestsecurity interest of Landlord in the aforementioned property and proceeds thereof under the provisions of the Uniform Commercial Code in force in the Commonwealth of Pennsylvania. Notwithstanding the foregoing, Secured Party is hereby authorized the parties acknowledge and agree that Tenant's lender may have superior rights to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office property noted herein. Tenant shall use its reasonable efforts to obtain, within forty-five (45) days of the Secretary date hereof, a waiver of State and with the appropriate county clerk’s office for the county where the Premises are locatedall such rights from its lender in this regard, as appropriate. Upon default under this Lease by Debtorand, any or all of Debtor’s obligations failing to Secured Party secured hereby shallobtain such waiver, at Secured Party’s optionthat Tenant shall use its best efforts to obtain from such lender, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to grant a judicial subordinated lien to Landlord in such goods, second only to the lien of such lender. Provided no Event of Default shall exist and remain uncured, Landlord agrees to execute from time to time, on Landlord's standard form, a Landlord's Waiver of Liens in conjunction with the financing of Tenant's trade fixtures, machinery or nonjudicial foreclosureequipment. For so long as no Event of Default shall exist and remain uncured, Secured Party Tenant shall have the right to remove and/or replace any trade fixtures, machinery and/or equipment owned or leased by Tenant; provided that Tenant shall promptly repair and restore any and all damage to the rights and remedies Premises or the Building sustained or incurred in connection with the installation, moving or removal of a secured party under the Uniform Commercial Code as enacted in the State of Texas. This security agreement and the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such saleitems.
Appears in 1 contract
Samples: Full Service Lease (Ict Group Inc)
LANDLORD'S LIEN. To secure the performance of Tenant’s obligations 's obligation --------------- under this Lease, Tenant, as Debtor, and referred to in this Section Paragraph as “"Debtor”", hereby grants to Landlord, as “"Secured Party”", a security interest in and an express contractual lien upon all of Debtor’s Debtors equipment, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, and other personal property of Debtor which is now on the Premises or which is placed on the Premises at some later date, and all proceeds from such items. This property shall not be removed from the Premises without the consent of Secured Party until all arrearages in rent and all other sums of money being due to Secured Party the secured party under this Lease, until this Lease have has been paid and discharged, and all the covenants, agreements, and conditions of this Lease lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party secured party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, located as appropriate. Upon default under this Lease by Debtor, as defined in Paragraph 25.1 hereof, any or all of Debtor’s debtors obligations to Secured Party secured party, secured hereby shall, at Secured Party’s 's option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial non-judicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial uniform commercial Code as enacted in the State of Texas. This security agreement and the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s debtor's default. The above-described security interest and lien are in addition to and cumulative of the Landlord’s 's lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such sale.
Appears in 1 contract
Samples: Standard Shopping Center Lease (Intellisys Group Inc)
LANDLORD'S LIEN. To secure the performance of Tenant’s obligations under this LeaseIn addition to any statutory landlord's lien, Tenantnow or hereafter enacted, as Debtor, and referred to in this Section as “Debtor”, hereby Tenant grants to Landlord, as “Secured Party”to secure performance of Tenant's obligations hereunder, a security interest in and an express contractual lien upon all of Debtor’s equipmentTenant's property situated in, furnitureor upon, furnishings, appliances, goods, trade fixtures, inventory, chattels, and other personal property of Debtor which is now on or used in connection with the Premises or which is placed on the Premises at some later datePremises, and all proceeds from such items. This property thereof (except merchandise sold in the ordinary course of business) (collectively, the "Collateral"), and the Collateral shall not be removed from the Premises or the Premises without the prior written consent of Secured Party Landlord until all arrearages in rent and all other sums obligations of money being due to Secured Party under this Lease have been paid and discharged, and all the covenants, agreements, and conditions of this Lease Tenant have been fully complied with performed. Such personalty thus encumbered includes specifically all trade and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout other fixtures for the term purpose of this Lease Section 21 and inventory, equipment, contract rights, accounts receivable and the proceeds thereof. Upon the occurrence of an Event of Default, Landlord may, in addition to all other remedies, without notice or demand except as provided below, exercise the rights afforded to a secured party under the Uniform Commercial Code of the state in which the Premises are located (the "UCC"). To the extent the UCC requires Landlord to give to Tenant notice of any act or event and such notice cannot be validly waived before a default occurs, then five-days' prior written notice thereof shall be reasonable notice of the act or event. In order to perfect such security interest, Landlord may file any extensions financing statement or renewals thereof) appoints Secured Party as its attorney-in-fact other instrument necessary at Tenant's expense at the state and county Uniform Commercial Code filing offices. Tenant grants to prepare Landlord a power of attorney to execute and file any financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering statement or other instrument necessary to perfect Landlord's security interest under this Section 21, which power is coupled with an interest and is irrevocable during the security described above; moreover, Debtor agrees to sign the same upon requestTerm. Notwithstanding the foregoing, Secured Party is hereby authorized to Landlord may also file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted perfect its security interest in the State Collateral. Within ten days following written request therefor, Tenant shall execute financing statements to be filed of Texas. This security agreement and the record to perfect Landlord's security interest hereby created shall survive in the termination of this Lease if such termination results Collateral. Notwithstanding the above, upon written request from Debtor’s default. The above-described security Tenant, Landlord agrees to waive or subordinate its interest and lien are in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion Collateral in favor of Tenant’s lender, which has a security interest in all of Tenant’s personal property at located in the Premises, by signing an agreement in favor of Tenant’s lender acknowledging such salewaiver or subordination and permitting Tenant’s lender to enter the Premises for the limited purpose of removing the Collateral in substantially the same form as attached hereto as Exhibit G and made a part hereof.
Appears in 1 contract
Samples: Lease Agreement (Luvu Brands, Inc.)
LANDLORD'S LIEN. To secure In addition to any statutory lien for the performance of Tenant’s obligations under this Leaserent in Landlord's favor, Tenant, as Debtor, Landlord shall have and referred to in this Section as “Debtor”, Tenant hereby grants to Landlord, as “Secured Party”, Landlord a continuing security interest in for all rentals and an express contractual lien other sums of money due or which may become due hereunder from Tenant, upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, inventory and other personal property of Debtor which is the Tenant now on or hereafter situated as fixtures, furniture, inventory and other personal property of the Premises Tenant now or which is placed on the Premises hereafter situated at some later date2250 W. 14TH STREET, TEMPE, ARIZONA 85282, and all proceeds from such items. This property shall not be removed from the Premises without the consent nox xx xxxxxxx xxxxxxxxx xxxxxxx xxx xxxxxxt of Secured Party Landlord until all arrearages in rent as well as any and all other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged. In the event any of the foregoing described property is removed from the Premises in violation of the covenant in the preceding sentence, the security interest shall continue in such property and all the covenantsproceeds and products, agreements, and conditions regardless of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriatelocations. Upon a default under this Lease hereunder by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In Tenant in addition to all other rights or remedies of Secured Party under this Lease and the lawremedies, including the right to a judicial or nonjudicial foreclosure, Secured Party Landlord shall have all the hxxx xxl rights and remedies of a secured party under the Uniform Commercial Code Code, including without limitation, the right to sell the property described in this Paragraph at public or private sale upon five (5) days notice by Landlord. Tenant hereby agrees to execute such other instruments, necessary or desirable under applicable law to perfect the security interest hereby created. Landlord and Tenant agree that this Lease and security agreement serves as enacted in a finanxxxx xtatement and that a copy, photographic or other reproduction of this portion of this Lease may be filed of record by Landlord and have the State of Texassame force and effect as the original. This security agreement and financing statement also covers fixtures located at the security interest hereby created shall survive Premises subject to this Lease and legally described in Exhibit "A" attached hereto and incorporated herein by reference and is to be filed for record in the termination real estate records. The record owner of this Lease if such termination results from Debtor’s defaultproperty is BEL DE MAR, L.L.C., AN ARIZONA LIMITED LIABILITY COMPANY. The above-described security interest and lien are in addition to and cumulative EXECUTED BY LANDLORD, this 28th day of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure saleDecember, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such sale2004.
Appears in 1 contract
LANDLORD'S LIEN. To secure As additional security for the performance of Tenant’s 's obligations under this Leaseherein, TenantTenant hereby pledges and assigns to Landlord all the furniture, fixtures and trade fixtures, such as Debtorbuilt in furniture and alike and all window treatments, drapes, flooring systems and referred to other items of personal property which are now or may hereafter be brought on or put in this Section as “Debtor”, hereby the Premises and further grants to Landlord, as “Secured Party”, Landlord a security interest in and an express contractual lien upon therein under the Uniform Commercial Code. For the purpose of securing the performance of all the obligations of Debtor’s equipment, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattelsTenant herein, and at the request of Landlord, Tenant hereby agrees to execute and deliver to Landlord all financing statements, amendments thereto or other personal similar statements which Landlord may request. Nothing herein contained shall be deemed to be a waiver by Landlord of its statuary lien against the property in which Landlord has been granted a security interest by Tenant, for Rent(s) and remedies, rights and privileges of Debtor which is now on Landlord in the Premises or which is placed on the Premises at some later date, case of default of Tenant as set forth herein and all proceeds from such items. This property shall not be removed from the Premises without the consent of Secured Party until exclusive; and in addition thereto, Landlord may also exercise and enforce all arrearages its rights at law or in rent and all other sums of money being due to Secured Party under this Lease equity which it may otherwise have been paid and discharged, and all the covenants, agreements, and conditions of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office result of Tenant's default herein. Landlord is herein specifically granted all of the Secretary rights of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party creditor under the Uniform Commercial Code with respect to the property in which Landlord has been granted a security interest by Tenant, including but not limited to the right to take possession of the above-mentioned property and dispose of it by sale in a commercially reasonable manner. Notwithstanding the Landlord's aforementioned statutory or contractual lien rights, so long as enacted Tenant is not in Default of this Lease, beyond any applicable grace period, if applicable, Landlord shall not unreasonably withhold consent to Tenant's request that Landlord subordinate in favor of Tenant's lender(s) (as applicable, the State "Secured Party")any statutory and contractual lien it may now or hereafter have with respect to Tenant's trade fixtures, equipment, inventory and personal property. Landlord's lien rights shall only be subordinated in favor of Texas. This the Secured Party for the duration of the security agreement consented to by Landlord. Nothing herein shall be construed to constitute a waiver of Landlord's lien rights. Any request for such subordination shall be accompanied by payment of Landlord's reasonable administrative and the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such saleattorneys' fees relating thereto.
Appears in 1 contract
LANDLORD'S LIEN. To secure the performance of Tenant’s obligations under this Lease, Tenant, as Debtor, and referred to in this Section as “Debtor”, hereby Tenant grants to Landlord, as “Secured Party”, a Landlord an express contractual lien on and security interest in and an express contractual lien upon to all of Debtor’s goods, equipment, furnishings, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, chattels and other personal property of Debtor which is now whatever nature owned by Tenant attached or affixed to or used in and about the Premises on the date of this Lease or at any time after the date of this Lease or otherwise located in the Premises or which is placed relating to Tenant's use of the Premises and all renewals or replacements or substitutions for any of the foregoing, all building materials and equipment now or hereafter delivered to the Premises and intended to be installed in the Premises and all security deposits and advance rentals under lease agreements on the date of this Lease or at any time after the date of this Lease covering or affecting the Premises at some later dateand held by or for the benefit of Tenant, and all proceeds from of the foregoing (including by way of illustration, but not limitation, proceeds of any insurance which may accrue to Tenant by reason of damage or destruction of any such itemsproperty). This property Upon Landlord's request, Tenant shall not be removed from execute and deliver to Landlord two (2) originals of a financing statement in form sufficient to perfect the Premises without the consent of Secured Party until all arrearages in rent and all security interest granted hereunder. A carbon, photographic or other sums of money being due to Secured Party under this Lease have been paid and discharged, and all the covenants, agreements, and conditions reproduction of this Lease have been fully complied with or this provision is sufficient and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease may be filed as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriatestatement. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party Landlord shall have all the rights and remedies of a secured party under the Uniform Commercial Commerce Code as enacted adopted in the State of Texas. This security agreement where the Property is located and the this lien and security interest hereby created may be foreclosed by process of law. The requirement of reasonable notice prior to any sale under Article 9 of the applicable Uniform Commerce Code shall survive be met if such notice is given in the termination manner prescribed herein at least ten (10) days before the day of sale. Any public sale made pursuant to the provisions of this Lease Section shall be deemed to have been conducted in a commercially reasonable manner if such termination results from Debtor’s default. The above-described security interest held in the Premises after the time place and lien are in addition to method of sale and cumulative a general description of the Landlord’s lien provided by types of property to be sold have been advertised for ten (10) consecutive days prior to the laws date of sale in a daily newspaper published in the State of Texas. In county where the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such saleBuilding is located.
Appears in 1 contract
Samples: Commercial Lease Agreement (Medstone International Inc/)
LANDLORD'S LIEN. To secure the payment of all rental and other sums of money due and to become due from Tenant under this Lease and the faithful performance of Tenant’s obligations under this Lease, Lease by Tenant, as Debtor, and referred to in this Section as “Debtor”, hereby Tenant grants to Landlord, as “Secured Party”, a security interest in and Landlord an express contractual lien upon and security interest in all of Debtor’s equipment, furniture, furnishings, appliances, goods, trade property (including fixtures, inventory, equipment and chattels, and other personal property of Debtor ) which is now on the Premises or which is may be placed on the Premises at some later date, by Tenant and all proceeds from thereof, including proceeds of any insurance which may accrue to Tenant by reason of the destruction of or damage to any such itemsproperty. This Such property shall not be removed from the Premises without the written consent of Secured Party Landlord until all arrearages in rent and all other sums of money being then due to Secured Party under this Lease Landlord by Tenant have been paid paid. The lien and dischargedsecurity interest created by this Paragraph are in addition to, not in lieu of, Landlord's statutory lien. Upon the occurrence of an event of default by Tenant, the lien and security interest created by this Paragraph may be foreclosed with or without court proceedings by public or private sale, provided Landlord has given Tenant at least 15 days' notice of the time and place of the sale, and all Landlord shall have the covenantsright to become the purchaser, agreementsupon being the highest bidder at the sale. Upon request by Landlord, Tenant will execute and conditions deliver to Landlord Uniform Commercial Code Financing Statements in sufficient form so that when properly filed, the security interest hereby granted will be perfected. Tenant will also execute and deliver to Landlord upon request Uniform Commercial Code Financing Statement change instruments in sufficient form to reflect any proper amendment or modification in or extension of the security interest hereby granted. A photographic or other reproduction of this Lease have been fully complied with will suffice and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease may be filed as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriatestatement. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby Landlord shall, at Secured Party’s option, be immediately due and payable without notice or demand. In in addition to all rights or of the remedies of Secured Party under specified in this Lease and the lawParagraph, including the right to a judicial or nonjudicial foreclosure, Secured Party shall also have all of the rights and remedies of a secured party under the Uniform Commercial Code as enacted adopted in the State of Texas. This security agreement and state in which the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s defaultPremises are located. The above-described security interest and lien are in addition favor of Landlord shall be subordinate to and cumulative any security interest or lien securing the payment of any purchase money financing on Tenant's property in the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such saleLeased Premises.
Appears in 1 contract
Samples: Office Building Lease (Mediware Information Systems Inc)
LANDLORD'S LIEN. To In addition to the statutory landlord’s lien, Landlord shall have, at all times, a valid security interest to secure the performance payment of Tenant’s obligations under this Lease, all Rent and other sums of money becoming due hereunder from Tenant, as Debtorand to secure payment of any damages or loss which Landlord may suffer by reason of the breach by Tenant of any covenant, and referred to in this Section as “Debtor”agreement or condition contained herein, hereby grants to Landlord, as “Secured Party”, a security interest in and an express contractual lien upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishingsimprovements, appliancesaccounts, goodscontract rights, trade fixtures, inventory, chattels, chattel paper and other personal property of Debtor Tenant presently or which is now may hereafter be situated on the Premises or which is placed on the Premises at some later datePremises, and all proceeds from therefrom, and such items. This property shall not be removed from the Premises therefrom without the consent of Secured Party Landlord until all arrearages in rent Rent as well as any and all other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged, discharged and all the covenants, agreements, agreements and conditions of this Lease hereof have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon requestTenant. Notwithstanding the foregoingforegoing or any of the provision in this paragraph 22, Secured Party Landlord acknowledges that Tenant has granted a security interest to a lender (“Tenant’s Lender”) in connection with the financing of its inventory, and Landlord agrees to execute the subordination agreement (the “Landlord’s Agreement”), the form of which is hereby authorized attached hereto as Exhibit “C”. Landlord will endeavor to file a duplicate original or Xerox copy obtain Tenant’s Lender’s approval as to the form and substance of the Landlord’s Agreement within thirty (30) days following the final execution of this Lease, failing which, Landlord may, at Initial: its option either (i) terminate this Lease or (ii) waive the Landlord’s lien herein contained, together with any statutory lien. Landlord shall have the right to negotiate and make all such changes to the Landlord’s Agreement as the Landlord and the Tenant’s Lender may mutually agree to provided that such changes do not adversely affect Tenant’s rights hereunder. Upon the occurrence of an event of default by Tenant, Landlord may, in addition to any other remedies provided herein (but subject to the Landlord’s Agreement), enter upon the Premises and take possession of any and all goods, wares, equipment, fixtures, furniture, improvements, accounts, contract rights, chattel paper and other personal property of Tenant situated on the Premises, without liability for trespass or conversion, and sell the same at public or private sale, with or without having such property at the sale, after giving Tenant reasonable notice of the time and place of any public sale or of the time after which any private sale is to be made, at which sale the Landlord or its assigns may purchase unless otherwise prohibited by law. Unless otherwise provided by law, and without intending to exclude any other manner of giving Tenant reasonable notice, the requirement of reasonable notice shall be met if such notice is given in the manner prescribed in this Lease at least five (5) days before the time of sale. The proceeds from any such disposition, less any and all expenses connected with the taking of possession, holding and selling of the property (including reasonable attorneys’ fees and other expenses), shall be applied as a credit against the indebtedness secured by the security interest granted in this paragraph. Any surplus shall be paid to Tenant or as otherwise required by law, and the Tenant shall pay any deficiencies forthwith. Upon request by Landlord, Tenant agrees to execute and deliver to Landlord a financing statement with in form sufficient to perfect the Office security interest of Landlord in the Secretary aforementioned property and proceeds thereof under the provisions of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in force in the State of Texas. This security agreement and The statutory lien for Rent is not hereby waived, the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are herein granted being in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such salesupplementary thereto.
Appears in 1 contract
Samples: Industrial Lease Agreement (Collegiate Pacific Inc)
LANDLORD'S LIEN. To secure the performance of Tenant’s obligations under this Lease, Tenant, as Debtor, and referred to in this Section as “Debtor”, hereby Tenant grants to Landlord, as “Secured Party”, Landlord a contractual security interest in and an express contractual lien upon on all of DebtorTenant’s equipment, furniture, furnishings, appliancesinventory, goods, trade fixtures, inventory, chattels, consumer goods and other personal property of Debtor which is equipment now on or hereafter situated in the Premises or which is placed on the Premises at some later date, and all proceeds from such itemstherefrom, including insurance proceeds (collectively, “Collateral”). This property No Collateral shall not be removed from the Premises without the Landlord’s prior written consent of Secured Party until all arrearages of Tenant’s obligations are fully satisfied (except in rent the ordinary course of Tenant’s business). Upon any event of default, Landlord may, to the fullest extent permitted by Law and all in addition to any other sums remedies provided herein, enter upon the Premises and take possession of money any Collateral without being due to Secured Party under this Lease have been paid and dischargedheld liable for trespass or conversion, and all sell the covenantssame at public or private sale, agreementsafter giving Tenant at least 10 days written notice (or more if required by Law) of the time and place of such sale. Such notice may be sent with or without return receipt requested. Unless prohibited by Law, any Landlord Party may purchase any Collateral at such sale. Subject to applicable Law, the proceeds from such sale, less Landlord’s expenses, including reasonable attorneys’ fees and conditions of this Lease have been fully complied with and performed other expenses, shall be credited against Tenant’s obligations. Any surplus shall be paid to Tenant (or as otherwise required by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (Law) and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact deficiency shall be paid by Tenant to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same Landlord upon requestdemand. Notwithstanding the foregoing, Secured Party is Tenant hereby authorized authorizes Landlord to file a duplicate original financing statement sufficient to perfect the foregoing security interest, or Xerox to file a copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are locatedstatement, as appropriatepermitted under Law. Upon default under this Lease by DebtorNotwithstanding the foregoing, any or all of Debtor’s obligations Landlord agrees, from time to Secured Party secured hereby shalltime, at Secured Partythe written request of Tenant at least 60 days prior to the proposed date of any loan or extension of credit, to expressly subordinate its foregoing contractual lien rights in Collateral (as well as any non-contractual lien granted to Landlord by Law in Collateral) to the security interests of one or more third party lender(s) providing financing for Tenant’s optionbusiness operations during the Term, be immediately due and payable without notice or demand. In addition to all rights or remedies provided that (i) there is no uncured event of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party default by Tenant under the Uniform Commercial Code as enacted Lease at the time of such subordination; (ii) such subordination shall be limited to the specified items, amount and time stated in the State of Texas. This security agreement subordinating instrument; and the security interest hereby created (iii) such subordination shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest be in writing, signed by all parties and lien are in addition to and cumulative of the a form prescribed by Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such sale.which form is attached hereto as Exhibit I.
Appears in 1 contract
LANDLORD'S LIEN. To secure the performance of TenantIn addition to any statutory landlord’s obligations under this Leaselien now or hereafter enacted, Tenant, as Debtor, and referred to in this Section as “Debtor”, hereby Tenant grants to Landlord, as “Secured Party”to secure performance of Xxxxxx’s obligations hereunder, a security interest in and an express contractual lien upon all of DebtorTenant’s equipmentproperty situated in or upon, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, and other personal property of Debtor which is now on or used in connection with. the Premises or which is placed on the Premises at some later dateProject, and all proceeds from such items. This property thereof (except merchandise sold in the ordinary course of business) (collectively, the “Collateral”), and the Collateral shall not be removed from the Premises or the Project without the prior written consent of Secured Party Landlord until all arrearages in rent and all other sums obligations of money being due to Secured Party under this Lease have been paid and discharged, and all the covenants, agreements, and conditions of this Lease Tenant have been fully complied with performed. Such personalty thus encumbered includes specifically all trade and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout other fixtures for the term purpose of this Lease Section 20 and inventory, equipment, contract rights, accounts receivable and the proceeds thereof. Upon the occurrence of an Event of Default, Landlord may, in addition to all other remedies, without notice or demand except as provided below, exercise the rights afforded to a secured party under the Uniform Commercial Code of the state in which the Premises are located (the “UCC”). To the extent the UCC requires Landlord to give to Tenant notice of any act or event and such notice cannot be validly waived before a default occurs, then five-days’ prior written notice thereof shall be reasonable notice of the act or event. In order to perfect such security interest, Landlord may file any extensions financing statement or renewals thereof) appoints Secured Party as its attorney-in-fact other instrument necessary at Tenant’s expense at the state and county Uniform Commercial Code filing offices. Tenant grants to prepare Landlord a power of attorney to execute and file any financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering statement or other instrument necessary to perfect Landlord’s security interest under this Section 20, which power is coupled with an interest and is irrevocable during the security described above; moreover, Debtor agrees to sign the same upon requestTerm. Notwithstanding the foregoing, Secured Party is hereby authorized to Landlord may also file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted perfect its security interest in the State Collateral. Within ten days following written request therefor, Xxxxxx shall execute financing statements to be filed of Texasrecord to perfect Landlord’s security interest in the Collateral. This security Notwithstanding the foregoing to the contrary, Xxxxxxxx agrees that upon request by Xxxxxx, and further provided that no Event of Default is then in existence, Landlord will execute and deliver an agreement and to Xxxxxx’s supplier or institutional financial source in a form mutually acceptable to both parties, whereby Landlord will subordinate Landlord’s lien to the security interest hereby created shall survive of Xxxxxx’s supplier or institutional financial source, subject to the termination terms and provisions of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such saleseparate agreement.
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LANDLORD'S LIEN. To secure In addition to any statutory lien for Rent in Landlord’s favor, Landlord shall have and Tenant hereby grants to Landlord a continuing security interest for all unpaid Rent and other sums of money becoming due hereunder from Tenant, upon all equipment, fixtures and furniture of Tenant situated on the performance Leased Premises. In the event of Tenant’s obligations a default under Section 18(a) of this Lease, Tenant, as Debtor, and referred to in this Section as “Debtor”, hereby grants to Landlord, as “Secured Party”, a security interest in and an express contractual lien upon all of Debtor’s equipment, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, and other personal property of Debtor which is now on the Premises or which is placed on the Premises at some later date, and all proceeds from such items. This property shall not be removed from the Premises therefrom without the consent of Secured Party Landlord until all arrearages in rent Rent as well as any and all other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged, and all . In the covenants, agreements, and conditions event of a default under Section 18(a) of this Lease have been fully complied with Lease, Landlord shall have, in addition to any other remedies provided herein or by law, all rights and performed remedies under the Uniform Commercial Code, including without limitation the right to sell the property described in this Paragraph 33 at public sale upon providing the notice called for by Debtorthe Uniform Commercial Code or if none is so supplied five (5) day’s notice to Tenant. Secured Party is authorized and Debtor Tenant hereby irrevocably and throughout the term of agrees that this Lease (shall constitute a security agreement and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact further agrees to prepare and file execute such financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering and other instruments necessary or desirable in Landlord’s discretion to perfect the security described above; moreoverinterest hereby created. Any statutory lien for Rent is not hereby waived, Debtor agrees to sign the same upon requestexpress contractual lien herein granted being in addition and supplementary thereto. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with in the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies event of a secured party under the Uniform Commercial Code as enacted Tenant financing in the State normal course of Texas. This security agreement and the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are in addition to and cumulative of business the Landlord’s lien provided by the laws of the State of Texas. In the event right shall be subordinate to such financing, and Landlord sells hereby agrees to execute a subordination agreement in a form reasonably acceptable to Landlord within five (5) business days after Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such salewritten request.
Appears in 1 contract
LANDLORD'S LIEN. To secure the performance of Tenant’s obligations under this LeaseIn addition to any statutory lien for rent in Landlord's favor, Tenant, as Debtor, Landlord shall have and referred you hereby grant to in this Section as “Debtor”, hereby grants to Landlord, as “Secured Party”, Landlord a continuing security interest in for all rentals and an express contractual lien other sums of money becoming due hereunder from Landlord: Tenant: ------ ------ you, upon all of Debtor’s your goods, wares, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattelsaccounts, contract rights, chattel paper and other personal property of Debtor which is now situated on the Premises or which is placed on the Premises at some later datePremises, and all proceeds from such items. This property shall not be removed from the Premises therefrom without the consent of Secured Party Landlord until all arrearages in rent Rent as well as any and all other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged, and all . In the covenants, agreements, and conditions event of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by DebtorLease, any or all of Debtor’s obligations to Secured Party secured hereby shallLandlord shall have, at Secured Party’s option, be immediately due and payable without notice or demand. In in addition to all rights any other remedies provided herein or remedies of Secured Party under this Lease and the by law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted Code, including without limitation the right to sell the property described in the State of Texasthis Section at public or private sale upon five (5) days notice to you. This security agreement You hereby agree to execute such financing statements and other instruments necessary or desirable in Landlord's discretion to perfect the security interest hereby created shall survive created. You warrant that the termination collateral subject to the security interest granted herein is not purchased or used by you for personal, family or household purposes. In consideration for Landlord's execution of this Lease Lease, if Landlord brings an action for a distress writ proceeding to enforce Landlord's statutory lien or to enforce any lien for rent granted under this Article, then in such termination results event you expressly agree that the obligation of Landlord to post a bond, as required under ss.83.12, Florida Statutes, or any successor provision of law, is waived and Landlord is released from Debtor’s defaultthe obligation to post such bond. The above-described security interest Landlord agrees that upon your request and from time to time, and provided that no uncured Event of Default exists, Landlord will execute a Landlord Waiver and Consent in a form reasonably acceptable to Landlord, which contains an agreement on the part of Landlord to subordinate its lien rights granted pursuant to this Section to the lien rights you are in addition granting to any lender of yours. Notwithstanding anything herein to the contrary, the lien rights granted Landlord either under this Article or under Florida law shall not apply and cumulative of the Landlord’s Landlord expressly waives such lien provided rights, to your customer files, accounting records, or computer software including any computer software owned by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial you that you lease or nonjudicial foreclosure sale, Tenant hereby expressly consents sell to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such salethird parties.
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LANDLORD'S LIEN. To In addition to the statutory landlord’s lien, Landlord shall have at all times a valid security interest to secure the performance payment of Tenant’s obligations under this Lease, all rentals and other sums of money becoming due hereunder from Tenant, as Debtorand to secure payment of any damages or loss which Landlord may suffer by reason of the breach by Tenant of any covenant, and referred to in this Section as “Debtor”agreement or condition contained herein, hereby grants to Landlord, as “Secured Party”, a security interest in and an express contractual lien upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, improvements and other personal property of Debtor which is now on the Premises Tenant presently, or which is placed on may hereafter be, situated in the Premises at some later datePremises, and all proceeds from therefrom, and such items. This property shall not be removed from the Premises therefrom without the consent of Secured Party Landlord until all arrearages in rent rental as well as any and all other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged, discharged and all the covenants, agreements, agreements and conditions of this Lease hereof have been fully complied with and performed by DebtorTenant. Secured Party Upon the occurrence of an Event of Default as set forth in Section 18 hereof by Tenant, Landlord may, to the extent permitted by law and in addition to any other remedies provided herein, enter upon the Premises and take possession of any and all goods, wares, equipment, fixtures, furniture, improvements and other personal property of Tenant situated in the Premises, without liability for trespass or conversion, and sell the same at public or private sale, with or without having such property at the sale, after giving Tenant reasonable notice of the time and place of any public sale or of the time after which any private sale is authorized to be made, at which sale Landlord or Landlord’s assigns may purchase unless otherwise prohibited by law. Unless otherwise provided by law, and Debtor hereby irrevocably and throughout without intending to exclude any other manner of giving Tenant reasonable notice, the term requirement of reasonable notice shall be met if such notice is given in the manner prescribed in this Lease at least ten (I 0) days before the time of sale. Any sale made pursuant to the provisions of this Lease Section 17 shall be deemed to have been a public sale conducted in a commercially reasonable manner if held in the Premises or where the property is located after the time, place and method of sale and a general description of the types of property to be sold have been advertised in a daily newspaper published in the county in which the Building is located, for five (5) consecutive days before the date of the sale. The proceeds from any such disposition, less any and all expenses connected with the taking of possession, holding and selling of the property (including reasonable attorneys’ fees) shall be applied as a credit against the indebtedness secured by the security interest granted in this Section 17. Any surplus shall be paid to Tenant or as otherwise required by law: Tenant shall pay any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact deficiencies forthwith. Upon request of Landlord, Tenant agrees to prepare and file execute Uniform Commercial Code financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering relating to the aforesaid security described above; moreover, Debtor agrees to sign the same upon requestinterest. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in the State event that an Event of Texas. This security agreement and Default has not occurred or is continuing at the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion time of Tenant’s property at such salerequest, Landlord shall subordinate its landlord’s liens to a bona-fide third party lender upon terms and conditions reasonably acceptable to Landlord and said lender.
Appears in 1 contract
LANDLORD'S LIEN. To In addition to the statutory Landlord's lien, Landlord shall have, at all times, a valid security interest to secure the performance payment of: (i) all rentals and other sums of Tenant’s obligations money due from Tenant under this Lease, Tenant, as Debtor, and referred (ii) any damages or loss which Landlord may suffer by reason of the breach by Tenant of this Lease. Landlord's lien shall apply to in this Section as “Debtor”, hereby grants to Landlord, as “Secured Party”, a security interest in and an express contractual lien upon (i) all of Debtor’s equipment, furniturefixture, furnishings, appliances, goods, trade fixtures, inventory, chattels, furniture and other personal property improvements of Debtor which is Tenant now or later situated on the Premises or which is placed on the Premises at some later date(subject to any purchase money security interests for such items), and (ii) all proceeds from such itemsproperty. This In event of default, all property subject to Landlords lien shall not be removed from the Premises without the consent of Secured Party Landlord until all arrearages the default is fully cured. In event of default, Landlord may, in rent addition to any other remedies in this Lease, enter the Premises and take possession of any and all other sums property subject to Landlords lien, without liability for trespass or conversion. After taking possession of money being due such property, Landlord may sell the same at public or private sale, (whether or not the property is present at the sale), after giving Tenant reasonable notice of the time and location of any such sale is to Secured Party under this Lease have been paid and dischargedbe conducted. Landlord or its agents, vendors or assigns may purchase the property at the sale. Unless otherwise mandated by law, and all without excluding any other manner of giving Tenant reasonable notice, the covenants, agreements, and conditions requirement of reasonable notice shall be met if such notice is given in the manner prescribed in paragraph 27 of this Lease have been fully complied at least five (5) days before the time of sale. The proceeds from any such disposition, less any and all expenses connected with the taking of possession, holding and performed selling of the property (including reasonable attorneys' fees and other expenses), shall be applied as a credit against the Tenants financial obligations under this Lease. Any surplus shall be paid to Tenant or as otherwise required by Debtorlaw; Tenant shall promptly pay any deficiencies. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only Upon request by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreoverLandlord, Debtor Tenant agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized execute and deliver to file a duplicate original or Xerox copy of this Lease as Landlord a financing statement with in form sufficient to perfect the Office security interest of Landlord in the Secretary aforementioned property under the provisions of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in force in the State of Texas. This security agreement and the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and Landlord retains its statutory lien are in addition to and cumulative of the Landlord’s lien provided created by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such salethis paragraph.
Appears in 1 contract
Samples: Lease Agreement (Efj Inc)
LANDLORD'S LIEN. To secure the performance of Tenant’s obligations under this LeaseIn addition to any statutory landlord's lien, Tenant, as DebtorLandlord shall have, and referred to in this Section as “Debtor”, Tenant does hereby grants grant to Landlord, as “Secured Party”at all times, a valid security interest in and an express contractual lien to secure payment of all rent and other sums of money becoming due hereunder from Tenant, and to secure payment of any damages or loss which Landlord may suffer by reason of the breach by Tenant of any covenant, agreement or condition contained herein, upon all of Debtor’s goods, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, improvements and other personal property of Debtor which is now on the Premises Tenant presently, or which is placed on may hereinafter be situated within the Premises at some later dateDemised Premises, and all proceeds from therefrom, and such items. This property shall not be removed from the Demised Premises without the consent of Secured Party Landlord until all arrearages in rent rent, as well as any and all other sums of money being then due to Secured Party under this Lease Landlord hereunder, shall first have been paid and discharged, discharged and all the covenants, agreements, agreements and conditions of this Lease hereof have been fully complied with and performed by DebtorTenant. Secured Party In the event of a default by Tenant hereunder, Landlord may, in addition to any other remedies provided elsewhere herein, enter upon the Demised Premises and take possession of any and all goods, equipment, fixtures, furniture, improvements and other personal property of Tenant situated within the Demised Premises, without liability for trespass or conversion, and sell the same at public or private sale, with or without having such property at the sale, after giving Tenant reasonable notice of the time and place of any public sale or of the time after which any private sale is authorized to be made, at which sale the Landlord or its assigns may purchase any of such property unless otherwise prohibited by law. Unless otherwise provided by law, and Debtor hereby irrevocably and throughout without intending to exclude any other manner of giving Tenant reasonable notice, the term requirement of reasonable notice shall be met if such notice is given in the manner prescribed in Paragraph 27 of this Lease at least ten (10) days before the time of sale. The proceeds from any such disposition, less any and any extensions or renewals thereofall expenses connected with the taking of possession, holding and selling of the property (including reasonable attorneys' fees and legal expenses) appoints Secured Party shall be applied as its attorney-in-fact to prepare and file financing statements signed only a credit against the indebtedness secured by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreoverinterest and lien granted in this paragraph. Any surplus shall be paid by Tenant or as otherwise required by law, Debtor and Tenant shall pay any deficiencies forthwith. Upon request by Landlord, Tenant agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized execute and deliver to file a duplicate original or Xerox copy of this Lease as Landlord a financing statement with in form sufficient to perfect the Office security interest of Landlord in the Secretary aforementioned property and proceeds thereof under the provisions of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in force in the State of Texas. This security agreement and Any statutory lien for rent is not hereby waived, the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are herein granted being in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such salesupplementary thereto.
Appears in 1 contract
LANDLORD'S LIEN. To In addition to any statutory landlord's lien and in --------------- order to secure payment of the performance Rent and all other sums payable hereunder by Tenant, and to secure payment of any loss, cost or damage which Landlord may suffer by reason of Tenant’s obligations under 's breach of this LeaseAgreement, Tenant, as Debtor, and referred to in this Section as “Debtor”, Tenant hereby grants to unto Landlord, as “Secured Party”to the maximum extent permitted by Applicable Law, a security interest in and an express contractual lien upon all of Debtor’s equipment, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattelsTenant's Personal Property (except motor vehicles and liquor licenses and permits), and other personal property Tenant's interest in all ledger sheets, files, records, documents and instruments (including, without limitation, computer programs, tapes and related electronic data processing) relating to the operation of Debtor which is now on the Premises or which is placed on Hotels (the Premises at some later date, "Records") and all proceeds from ------- therefrom, subject to any Permitted Encumbrances; and such items. This property Tenant's Personal Property shall not be removed from the Premises Leased Property at any time when an Event of Default has occurred and is continuing. Upon Landlord's request, Tenant shall execute and deliver to Landlord financing statements in form sufficient to perfect the security interest of Landlord in Tenant's Personal Property and the proceeds thereof in accordance with the provisions of the applicable laws of the State. During the continuance of an Event of Default, Tenant hereby grants Landlord an irrevocable limited power of attorney, coupled with an interest, to execute all such financing statements in Tenant's name, place and stead. The security interest herein granted is in addition to any statutory lien for the Rent. ARTICLE 8 ---------- PERMITTED CONTESTS ------------------ Tenant shall have the right to contest the amount or validity of any Imposition, Legal Requirement, Insurance Requirement, Environmental Obligation, lien, attachment, levy, encumbrance, charge or claim (collectively, "Claims") as ------ to the Leased Property, by appropriate legal proceedings, conducted in good faith and with due diligence, provided that (a) the foregoing shall in no way be construed as relieving, modifying or extending Tenant's obligation to pay any Claims as finally determined, (b) such contest shall not cause Landlord or Tenant to be in default under any mortgage or deed of trust encumbering the Leased Property (Landlord agreeing that any such mortgage or deed of trust shall permit Tenant to exercise the rights granted pursuant to this Article 8) or any --------- interest therein or result in or reasonably be expected to result in a lien attaching to the Leased Property (unless Tenant shall provide Landlord with a bond or other assurance reasonably acceptable to Landlord with respect to any such lien), (c) no part of the Leased Property nor any Rent therefrom shall be in any immediate danger of sale, forfeiture, attachment or loss, and (d) Tenant shall indemnify and hold harmless Landlord from and against any cost, claim, damage, penalty or reasonable expense, including reasonable attorneys' fees, incurred by Landlord in connection therewith or as a result thereof. Landlord agrees to join in any such proceedings if required legally to prosecute such contest, provided that Landlord shall not thereby be subjected to any liability therefor (including, without limitation, for the consent payment of Secured Party until all arrearages any costs or expenses in rent connection therewith) unless Tenant agrees by agreement in form and all other sums substance reasonably satisfactory to Landlord, to assume and indemnify Landlord with respect to the same. Tenant shall be entitled to any refund of money being due to Secured Party under this Lease any Claims and such charges and penalties or interest thereon which have been paid by Tenant or paid by Landlord to the extent that Landlord has been fully reimbursed by Tenant. If Tenant shall fail (x) to pay or cause to be paid any Claims when finally determined, (y) to provide reasonable security therefor or (z) to prosecute or cause to be prosecuted any such contest diligently and dischargedin good faith, Landlord may, upon reasonable notice to Tenant (which notice shall not be required if Landlord shall reasonably determine that the same is not practicable), pay such charges, together with interest and penalties due with respect thereto, and all the covenantsTenant shall reimburse Landlord therefor, agreements, and conditions of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are locateddemand, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in the State of Texas. This security agreement and the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such saleAdditional Charges.
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LANDLORD'S LIEN. To secure the performance As security for payment of Tenant’s obligations Rent and Additional Rent, damages and all other payments required to be made by Tenant under this Lease, Tenant, as Debtor, and referred to in this Section as “Debtor”, Tenant hereby grants to Landlord, as “Secured Party”, Landlord a lien upon and security interest in all property of Tenant now or subsequently located upon the Leased Premises. If Tenant is in default of any provision of this Lease, Landlord may enter upon the Leased Premises by picking or changing locks if necessary, and an express contractual lien upon take possession of all or any part of such property, and may sell all or any part of such property at a public or private sale, in one or successive sales, with or without notice, to the highest bidder for cash, and, on behalf of Tenant, sell and convey all or part of such property to the highest bidder, delivering to the highest bidder all of Debtor’s equipmentTenant s title and interest in the property sold. The proceeds of the sale of such property shall be applied by Landlord toward the reasonable costs and expenses of the sale, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattelsincluding attorney's fees, and then toward the payment of all sums then due by Tenant to Landlord under the terms of this Lease. Any excess remaining shall be paid to Tenant or any other personal property person entitled thereto by law. This Lease is intended as and constitutes a security agreement within the meaning of Debtor the Uniform Commercial Code of the state in which is now on the Leased Premises or which is placed on are situated. Landlord, in addition to the Premises at some later daterights prescribed in this Lease, shall have all of the rights, titles, liens, and all proceeds from interests in and to Tenant's property, now or hereafter located upon the Leased Premises, which may be granted a secured party (as that term is defined under such itemsUniform Commercial Code) under this Lease. This property shall not be removed from Tenant will, on request, execute and deliver to Landlord a financing statement (or continuation statement) for the Premises without the consent purpose of Secured Party until all arrearages in rent and all other sums of money being due to Secured Party perfecting Landlord's security interest under this Lease have been paid and dischargedor Landlord may file this Lease, and all the covenants, agreements, and conditions a carbon photographic or other reproduction of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions Lease, or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy memorandum of this Lease as a financing statement with the Office statement. All of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtorabove notwithstanding, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in the State of Texas. This security agreement and the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells TenantLien shall be subordinate to Xxxxxx’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such saletrade creditors.
Appears in 1 contract
Samples: Lease Agreement
LANDLORD'S LIEN. To In addition to any statutory landlord’s lien now in effect or hereafter enacted, Tenant grants to Landlord, to secure the performance of Tenant’s obligations under this Lease, Tenant, as Debtor, and referred to in this Section as “Debtor”, hereby grants to Landlord, as “Secured Party”hereunder, a security interest in and an express contractual lien upon all of DebtorTenant’s equipmentproperty situated in or upon, furnitureor used in connection with, furnishings, appliances, goods, trade fixtures, inventory, chattels, and other personal property of Debtor which is now on the Premises or which is placed on the Premises at some later dateProject, and all proceeds from such items. This property thereof (except merchandise sold in the ordinary course of business) (collectively, the “Collateral”), and the Collateral shall not be removed from the Premises or the Project without the prior written consent of Secured Party Landlord until all arrearages in rent and all other sums obligations of money being due to Secured Party under this Lease have been paid and discharged, and all the covenants, agreements, and conditions of this Lease Tenant have been fully complied with performed. Such personalty thus encumbered includes specifically all trade and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout other fixtures for the term purpose of this Lease Section 20 and inventory, equipment, contract rights, accounts receivable and the proceeds thereof. Upon the occurrence of an Event of Default, Landlord may, in addition to all other remedies, without notice or demand except as provided below, exercise the rights afforded to a secured party under the Uniform Commercial Code of the state in which the Premises are located (the “UCC”). To the extent the UCC requires Landlord to give to Tenant notice of any act or event and such notice cannot be validly waived before a default occurs, then five (5) days’ prior written notice thereof shall be reasonable notice of the act or event. In order to perfect such security interest, Landlord may file any extensions financing statement or renewals thereof) appoints Secured Party as its attorney-in-fact other instrument necessary at Tenant’s expense at the state and county Uniform Commercial Code filing offices. Tenant grants to prepare Landlord a power of attorney to execute and file any financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering statement or other instrument necessary to perfect Landlord’s security interest under this Section 20, which power is coupled with an interest and is irrevocable during the security described above; moreover, Debtor agrees to sign the same upon requestTerm. Notwithstanding the foregoing, Secured Party is hereby authorized to Landlord may also file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted perfect its security interest in the State Collateral. Within ten (10) days following written request therefor, Tenant shall execute financing statements to be filed of Texas. This security agreement and the record to perfect Landlord’s security interest hereby created in the Collateral. The landlord’s lien shall survive the expiration or earlier termination of this Lease if such termination results from Debtor’s defaultthe Lease, until all obligations of Tenant have been fully performed. The above-described security interest and Landlord agrees to subordinate its foregoing contractual lien are in addition rights to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells a third party providing furniture, fixtures and/or equipment for Tenant’s property use in the Premises during the Term (or providing funds for the acquisition of same) on the form attached hereto as Exhibit K, provided that: (i) there is no uncured Event of Default by Tenant under the Lease at the time of such subordination; (ii) such subordination shall be limited to the specified items, amount and time stated in the subordinating instrument; and (iii) such subordination shall be in writing, signed by all parties and in a judicial or nonjudicial foreclosure sale, form reasonably acceptable to Landlord. Tenant hereby expressly consents to and gives shall reimburse Landlord for the authority to bid on and purchase all or a portion reasonable attorney’s fees actually incurred by Landlord in reviewing and/or negotiating such instruments of Tenant’s property at such salesubordination.
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LANDLORD'S LIEN. To secure 22.1. Tenant grants to Landlord a lien upon and a security interest in, as security for the performance of Tenant’s obligations obligations, Tenant’s existing or hereafter acquired personal property, inventory, furniture, fixtures, equipment and other assets which are located in the Premises or used in connection with the business to be conducted in the Premises (hereinafter collectively called “Personal Property”). Such lien shall be in addition to all rights of distraint available under applicable law. Within fifteen (15) days after Landlord’s request, Tenant shall execute, acknowledge and deliver to Landlord a financing statement and any other document submitted to Tenant evidencing or establishing such lien and security interest. During any period Tenant is in Event of Default under this Lease, Tenant, as Debtor, and referred to in this Section as “Debtor”, hereby grants to Landlord, as “Secured Party”, a security interest in and an express contractual lien upon all of Debtor’s equipment, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, and other personal property of Debtor which is now on the Premises or which is placed on the Premises at some later date, and all proceeds from such items. This property Tenant shall not be removed sell, transfer or remove from the Premises without such Personal Property. Landlord may at any time after Event of Default in the consent payment of Secured Party until all arrearages in rent or Event of Default of other obligations, seize and take possession of any and all other sums Personal Property belonging to Tenant which may be found in and upon the Premises. If Tenant fails to redeem the Personal Property so seized, by payment of money being whatever sum may be due Landlord under and by virtue of the provisions of this Lease, then and in that event, Landlord shall have the right, after twenty (20) days’ written notice to Tenant of its intention to do so, to sell such Personal Property so seized at public or private sale and upon such terms and conditions as to Landlord may appear advantageous, and after the payment of charges incident to such sale, including storage charges if any, apply the proceeds thereof to the payment of any balance due to Secured Party under Landlord on account of rent or other obligations of Tenant pursuant to this Lease have been paid and discharged, and all the covenants, agreements, and conditions of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in the State of Texas. This security agreement and the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are in addition to and cumulative of the Landlord’s lien provided by the laws of the State of TexasLease. In the event there shall then remain in the hands of Landlord sells any balance realized from the sale of said Personal Property as aforesaid, the same shall be paid over to Tenant’s property at a judicial . The exercise of the foregoing remedy by Landlord shall not relieve or nonjudicial foreclosure sale, discharge Tenant hereby expressly consents from any deficiency owed to and gives Landlord that Landlord has the authority right to bid on and purchase all or a portion enforce pursuant to any other provisions of Tenant’s property at such salethis Lease.
Appears in 1 contract
LANDLORD'S LIEN. To Subject to any applicable state and federal laws, in addition to the statutory Landlord's lien, Landlord shall have, at all times, a valid security interest to secure the performance payment of Tenant’s obligations under this Lease, all rentals and other sums of money becoming due hereunder from Tenant, as Debtorand to secure payment of any damages or loss which Landlord may suffer by reason of the breach by Tenant of any covenant agreement or condition captained herein, and referred to in this Section as “Debtor”upon al goods, hereby grants to Landlordwares, as “Secured Party”equipment, a security interest in and an express contractual lien upon all of Debtor’s equipmentfixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattelsimprovements, and other personal property of Debtor Tenant present of which is now may hereinafter be situated on the Premises or which is placed on the Premises at some later datePremises, and all proceeds from therefrom, and such items. This property shall not be removed from the Premises without therefrom, with the consent of Secured Party Landlord until all arrearages in rent as well as any and all other sums of money being due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged, discharged and all the covenants, agreementscovenant agreement, and conditions of this Lease hereof have been fully complied with and performed by DebtorTenant. Secured Party Upon the occurrence of an event of default by Tenant, Landlord may, in addition to any other remedies provided herein, to the extent allowed by law, enter upon the Premises and take possession of any and all goods, wares, equipment, fixtures, furniture, improvements, and other personal property of Tenant situated on the Premises, without liability for trespass or conversion, and sell the same at public or private sale, after giving Tenant reasonable notice of the time and place of any public sale or of the time after which any private sale is authorized to be made, at which sale, the Landlord or its assigns may purchase unless otherwise prohibited by law. Unless otherwise provided by law, and Debtor without intending to exclude any other manner of giving Tenant reasonable notice, the requirement of reasonable notice shall be met if such notice is given at least five (5) days before the time of sale. The proceeds from any such disposition, less any and all expenses connected with the taking of possession, holding, and selling of the property (including reasonable attorney's fees and other expenses), shall be applied as a credit against the indebtedness secured by the security interest granted in this section. Any surplus shall be paid to Tenant or as otherwise required by law; and the Tenant shall pay any deficiencies forthwith. Upon request by Landlord, Tenant agrees to execute and delivery to Landlord a financing statement in form sufficient to perfect the security interest of Landlord in the aforementioned property and proceeds thereof under the provisions of the Uniform Commercial Code in force in the State of Texas. Tenant does hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as appoint Landlord its attorney-in-fact to prepare execute in Tenants name and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering in its place and stead any instrument necessary to effectuate the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy terms of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office Landlord's Lien including any Financing Statement in connection therewith. The statutory lien for the county where the Premises are locatedrent is not hereby waived, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in the State of Texas. This security agreement and the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are herein granted being in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such salesupplementary thereto.
Appears in 1 contract
LANDLORD'S LIEN. To In addition to the statutory Landlord's lien, Landlord shall have, at all times, a valid security interest to secure the performance payment of Tenant’s obligations under this Lease, all rentals and other sums of money becoming due hereunder from Tenant, as Debtorand to secure payment of any damages or loss which Landlord may suffer by reason of breach by Tenant of any covenant, and referred to in this Section as “Debtor”agreement or condition contained herein, hereby grants to Landlord, as “Secured Party”, a security interest in and an express contractual lien upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, improvements and other personal property of Debtor Tenant but excluding the financial portfolios of Tenant's customers presently, or which is now may hereafter be situated on the Premises or which is placed on the Premises at some later datedemised premises, and all proceeds from therefrom, and such items. This property shall not be removed from the Premises therefrom without the consent of Secured Party the Landlord until all arrearages in rent rent, as well as any and all other sums of money being then due to Secured Party under this Lease Landlord hereunder, shall first have been paid and discharged, discharges and all the covenants, agreements, agreements and conditions of this Lease hereof have been fully complied with and performed by DebtorTenant. Secured Party Upon the occurrence of an event of default by Tenant, Landlord may, in addition to any other remedies provided herein, enter upon the demised premises and take possession of any and all goods, wares, equipment, fixtures, furniture, improvements and other personal property of Tenant but excluding the financial portfolios of Tenant's customers situated on the premises, without liability for trespass or conversion, and sell the same at public or private sale, with or without having such property at the sale, after giving Tenant reasonable notice of the time and place of any public sale or of the time after which any private sale is authorized to be made, at which sale Landlord or its assigns may purchase, unless otherwise prohibited by law. Unless otherwise provided by law, and Debtor hereby irrevocably and throughout without intending to exclude any other manner of giving Tenant reasonable notice, the term requirement of reasonable notice shall be met if such notice is given in the manner prescribed in Paragraph 30 of this Lease lease at least five (5) days before the time of sale. The proceeds from any such disposition, less any and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare all expenses connected with the taking of possession, holding and file financing statements signed only by Secured Party as attorney-in-fact on behalf selling of Debtor covering the security described above; moreoverproperty (including reasonable attorneys' fees and other expenses), Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease shall be applied as a financing statement with credit against the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease indebtedness secured by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in the State of Texas. This security agreement and the security interest granted in this paragraph. Any surplus shall be paid to Tenant or as otherwise required by law; and Tenant shall pay any deficiencies forthwith. Landlord's statutory lien for rent is not hereby created shall survive waived, the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are herein granted being in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such salesupplementary thereto.
Appears in 1 contract
LANDLORD'S LIEN. To secure the performance As security for Tenant"s payment of Tenant’s obligations under rent, damages and all other payments required to be made by this Lease, Tenant, as Debtor, and referred to in this Section as “Debtor”, Tenant hereby grants to Landlord, as “Secured Party”, Landlord a security interest in and an express contractual lien upon all property of Debtor’s equipmentTenant now or subsequently located upon the Premises. If Tenant abandons or vacates any substantial portion of the Premises, furnitureor is in default in the payment of any rentals, furnishingsdamages or other payments require to be made by this Lessee, appliances, goods, trade fixtures, inventory, chattelsLandlord may toke any action it deems necessary, and other may be available to it in the Stare of Florida. The proceeds of the sale of the personal property shall be applied by Landlord toward the cost of Debtor which the sale and then toward the payment of all sums then due by Tenant to Landlord under the terms of this Lease. UNIFORM COMMERCIAL CODE: To the extent, if any, this Lease grants Landlord any lien or lien rights greater than provided by the laws Of the State of Florida pertaining to "Landlord"s Liens," this Lease is intended AS and constitutes a security agreement within the meaning of the Uniform Commercial Code. Landlord, in addition to the rights prescribed in this Lease, shall have a lien upon and interest in Tenant"s property now on or hereafter located upon the Premises or which is placed on grants Landlord a Security interest, as that term Is defined, under this state"s Uniform Commercial Code to secure the Premises at some later datepayment to Landlord of the various amounts provided in this Lease. The Tenant agrees to and shall execute and deliver to Landlord such "Financing Statements" and such further assurances as Landlord may, from time to time consider necessary to create, perfect and preserve the lien described and all additions, substitutions, replacement and accessions thereto, and all proceeds from such itemsof its or their sale or other disposition. This property shall not be removed from the Premises without the consent of Secured Party until all arrearages in rent and all other sums of money being due to Secured Party under this Lease have been paid and discharged, and all the covenants, agreements, and conditions of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shallThe Landlord, at Secured Party’s optionthe expense of Tenant, may cause such Financing Statements and assurances to be immediately due recorded and payable without notice re-recorded, filed and re-filed, ant renewed or demand. In addition continued, at such times and places as may be required or permitted by law to all rights or remedies of Secured Party under this Lease create, perfect and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in the State of Texas. This security agreement and the security interest hereby created shall survive the termination of this Lease if preserve such termination results from Debtor’s default. The above-described security interest and lien are in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texasliens. In the event Tenant fails to promptly execute and return to Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure salesuch Financing Statements as Landlord may require to create, preserve and perfect its lien, Tenant shall and does hereby expressly consents designate Landlord to act as Tenant"s agent for the sole and gives limited purpose of executing such Financing Statements and any such execution by Landlord the authority pursuant to bid on this Lease shall be effective and purchase all or a portion binding upon Tenant as though executed originally by Tenant. Tenant"s designation of Tenant’s property at such saleLandlord as agent hereunder shall not be subject to revocation until this Lease is terminated.
Appears in 1 contract
LANDLORD'S LIEN. To secure All tangible personal property not permanently part of the performance Demised Premises, including screens, sound systems, projectors, seating, panelling, movable partitions, lighting fixtures, furniture system, storage walls, special cabinet work, other business and trade fixtures, machinery and equipment, communications equipment and office equipment, whether or not the attached to, or built into, the Demised Premises, that are installed in the Demised Premises by or for the account of Tenant’s , at Tenant's expense, and can be removed without permanent structural damage to the Demised Premises, and all furniture, furnishings and other articles of movable personal property owned by Tenant and located in the Demised Premises (all of which are sometimes called "Tenant's Property"), shall be and shall remain the property of Tenant for all purposes, subject to a lien in the favor of Landlord in the event Tenant shall default (after notice and grace) in the observance of Tenant's obligations under hereunder. Landlord's lien, however, shall be subject and subordinate to the lien of any party which may now or in the future hold an interest in any of Tenant's Property. This subordination shall be self-operative; however, Landlord agrees to execute such documents as may be requested by Tenant to confirm the subordination of its lien to the lien of any party claiming an interest, whether by lease, financing or otherwise. In the event of damage or destruction thereto by fire or other causes, Tenant shall have the right to recover the value thereof as its own loss from any insurance company with which it has insured the same, or to claim an award in the event of condemnation, notwithstanding that, absent this sentence, any of such things might be considered a part of the Demised Premises. Tenant may remove all or any of Tenant's Property at any time during the term of this Lease, provided that, if any of Tenant's Property is removed, Tenant or any party or person entitled to remove same shall repair or pay the cost repairing any damage to the Demised Premises or to the Building resulting from such removal. Any equipment or other property for which Landlord shall have granted any allowance or credit to Tenant, as Debtoror that has replaced such items originally provided by Landlord at Landlord's expense, and referred to in this Section as “Debtor”, hereby grants to Landlord, as “Secured Party”, a security interest in and an express contractual lien upon all of Debtor’s equipment, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, and other personal property of Debtor which is now shall remain on the Demised Premises or which is placed on the Premises at some later date, and all proceeds from such items. This property shall not be removed from the Premises without the consent of Secured Party until all arrearages in rent and all other sums of money being due to Secured Party under this Lease have been paid and discharged, and all the covenants, agreements, and conditions of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in the State of Texas. This security agreement and the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such sale.
Appears in 1 contract
Samples: Assignment, Acceptance of Assignment and Consent to Assignment of Lease (Clearview Cinema Group Inc)
LANDLORD'S LIEN. To secure the performance of Tenant’s obligations under this LeaseIn addition to any statutory lien for rent in Landlord's favor, Tenant, as Debtor, Landlord shall have and referred to in this Section as “Debtor”, Tenant hereby grants to Landlord, as “Secured Party”, Landlord a continuing security interest in for all rentals and an express contractual lien other sums of money due or which may become due hereunder from Tenant, upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, and other personal property of Debtor which is the Tenant now on the Premises or which is placed on the Premises hereafter situated at some later date0000 Xxxxxxxxxx Xxxxxx, Xxxxxxx, Xxxxxxxx 00000, and all proceeds from such items. This ------------------------------------------------ property shall not be removed from the Premises therefrom without the consent of Secured Party Landlord until all arrearages in rent as well as any and all other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged. In the event any of the foregoing described property is removed from the Premises in violation of the covenant in the preceding sentence, the security interest shall continue in such property and all proceeds and products, regardless of locations. Upon a default hereunder by Tenant in addition to all other rights and remedies, Landlord shall have all rights and remedies under the covenantsUniform Commercial Code, agreementsincluding without limitation, the right to sell the property described in this Paragraph at public or private sale upon five (5) days notice by Landlord. Tenant hereby agrees to execute such other instruments, necessary or desirable under applicable law to perfect the security interest hereby created. Landlord and conditions of Tenant agree that this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease agreement serves as a financing statement with the Office and that a copy, photographic or other reproduction of the Secretary this portion of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease may be filed of record by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due Landlord and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease have the same force and effect as the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in the State of Texasoriginal. This security agreement and financing statement also covers fixtures located at the security interest hereby created shall survive the termination of Premises subject to this Lease if such termination results from Debtor’s defaultand legally described in Exhibit "A" attached hereto and incorporated herein by reference and is to be filed for record in the real estate records. The above-described security interest and lien are in addition to and cumulative EXECUTED BY LANDLORD, this 16th day of the Landlord’s lien provided by the laws of the State of TexasNovember, 1998. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such sale.---- -------- ADDRESS: LANDLORD:
Appears in 1 contract
LANDLORD'S LIEN. To secure the performance Subject to Landlord executing a landlord waiver or collateral access agreement reasonably acceptable to Landlord in favor of Tenant’s obligations under this Leaselender or mortgagee, Tenantin addition to any statutory lien for Rent in Landlord’s favor, as Debtor, Landlord shall have and referred to in this Section as “Debtor”, Tenant hereby grants to Landlord, as “Secured Party”, Landlord a continuing security interest in for all Rent and an express contractual lien other sums of money becoming due hereunder from Tenant, upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattelsaccounts, contract rights, chattel paper, vehicles and other personal property of Debtor which is now Tenant situated on the Premises or which is placed on the Premises at some later dateProperty, and all proceeds from such items. This property shall not be removed from the Premises therefrom without the consent of Secured Party Landlord until all arrearages in rent Rent as well as any and all other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged, and all . In the covenants, agreements, and conditions event of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by DebtorLease, any or all of Debtor’s obligations to Secured Party secured hereby shallLandlord shall have, at Secured Party’s option, be immediately due and payable without notice or demand. In in addition to any other remedies provided herein or by law, all rights or and remedies of Secured Party under this Lease and the lawUniform Commercial Code, including the right to a judicial sell the property described in this Section 21 at public or nonjudicial foreclosureprivate sale. Tenant hereby agrees to execute such financing statements and other instruments necessary or desirable in Landlord’s discretion to perfect the security interest hereby created. Any statutory lien for Rent is not hereby waived, Secured Party shall have all the rights express contractual lien herein granted being in addition and remedies of a secured party under the Uniform Commercial Code as enacted in the State of Texassupplementary thereto. This security agreement Landlord and Tenant agree that this Lease and the security interest hereby created shall survive the termination granted herein serve as a financing statement, and a copy or photographic or other reproduction of this Paragraph 21 of this Lease if such termination results from Debtor’s defaultmay be filed of record by Landlord and have the same force and effect as the original. Tenant warrants and represents that the collateral subject to the security interest granted herein is not purchased or used by Tenant for personal, family or household purposes. Tenant further warrants and represents to Landlord that Tenant will not allow the placing of any other lien upon any of the property described in this Paragraph 21 without the prior written consent of Landlord. The above-described security interest and lien are in addition to and cumulative exercise of the Landlord’s lien provided foregoing remedy by Landlord shall not relieve or discharge Tenant from any deficiency owed to Landlord which Landlord has the laws right to enforce pursuant to any other provision of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such salethis Lease.
Appears in 1 contract
Samples: Lease Agreement (Leatt Corp)
LANDLORD'S LIEN. To secure In consideration of the performance of Tenant’s obligations under this Lease, Tenant, as Debtor, and referred to in this Section as “Debtor”, hereby grants to Landlord, as “Secured Party”, a security interest in and an express contractual lien upon all of Debtor’s equipment, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, and other personal property of Debtor which is now on the Premises or which is placed on the Premises at some later date, and all proceeds from such items. This property shall not be removed from the Premises without the consent of Secured Party until all arrearages in rent and all other sums of money being due to Secured Party mutual benefits ---------------- arising under this Lease have been paid and discharged, and all the covenants, agreements, and conditions of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact in order to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default receive mutual benefits arising under this Lease and in order to receive payment of all Rent payable by Debtor, any or all of Debtor’s obligations Tenant to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party Landlord under this Lease and the lawfaithful performance and observance of all covenants and agreements of Tenant under this Lease, Tenant hereby grants to Landlord a lien and security interest on and in all property of Tenant now or hereafter placed in or upon the Leased Premises, including without limitation all goods, wares, fixtures, Trade Fixtures, machinery, inventory, equipment, furniture, furnishings and other personal property now or hereafter placed in or upon the right Leased Premises (collectively, the "Personal Property"), and such Personal Property shall be and remain subject to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights such lien and remedies of a secured party under the Uniform Commercial Code as enacted in the State of Texas. This security agreement and the security interest hereby created shall survive the termination of Landlord for payment of all Rent and other sums agreed to be paid by Tenant under this Lease if such termination results from Debtor’s defaultLease. The above-described Said lien and security interest and lien are shall be in addition to and cumulative of the Landlord’s lien 's liens provided by law. This Lease shall constitute a security agreement under the laws of Uniform Commercial Code as enacted and enforced in the State of TexasTexas (the "UCC") so that Landlord shall have and may enforce a security interest on all such Personal Property. In Such Personal Property shall not be removed from the event Leased Premises unless such removal is in the ordinary course of Tenant's business and Tenant is not at the time of such removal in default under this Lease. Tenant agrees to execute as debtor such financing statement or statements as Landlord sells Tenant’s property may now or hereafter reasonably request in order that such security interest or interests may be protected pursuant to said UCC. Landlord may at its election at any time file a judicial or nonjudicial foreclosure salecopy of this Lease as a financing statement. Landlord, Tenant hereby expressly consents as secured party, shall be entitled to all of the rights and remedies afforded a secured party under said UCC, which rights and remedies shall be in addition to and gives cumulative of Landlord's liens and rights provided by law or by the other terms and provisions of this Lease. Notwithstanding anything contained herein to the contrary, Landlord the authority shall subordinate all of its liens (contractual and statutory) to bid on and purchase Tenant's financing or all or a any portion of its inventory, fixtures, furniture, and equipment. Such subordination shall be evidenced by a subordination agreement to be reasonably satisfactory to Landlord and such subordination shall be in an amount not greater than the actual amount financed by Tenant’s property at such sale.
Appears in 1 contract
LANDLORD'S LIEN. To secure the performance Section 14.01. Upon written request of Tenant’s obligations under this Lease, Tenant, as Debtor, Landlord shall subordinate its security interest and referred lien rights to in this Section as “Debtor”, hereby grants to Landlord, as a qualified third party lender (“Secured Party”, a security interest in and an express contractual lien upon all of Debtor’s equipment, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, and other personal property of Debtor which is now ) on the Premises or which is placed on the Premises at some later date, and all proceeds from such items. This property shall not be removed from the Premises without the consent of Secured Party until all arrearages in rent and all other sums of money being due to Secured Party under this Lease have been paid and discharged, and all the covenants, agreements, and conditions of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s optioncommercially reasonable subordination form in connection with Tenant financing its inventory, fixtures and equipment at the Leased Premises provided the instrument required to be immediately due and payable without notice or demand. In addition signed by Landlord contains commercially reasonably acceptable provisions relating to all rights or remedies of the requirement that the Secured Party under this Lease and remove said security property from the lawLeased Premises within a stated amount of time, including the right to a judicial or nonjudicial foreclosure, failing which Secured Party shall be deemed to have all the waived its rights and remedies of a secured party under the Uniform Commercial Code as enacted in the State of Texas. This to such security agreement and the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texasproperty.
Section 14.02. In the event that Landlord sells shall have taken possession of the Leased Premises pursuant to the authority hereinafter granted in connection with an Event of Default or for any other lawful reason, Landlord shall have the right to keep in place and use all of the furniture, fixtures and equipment at the Leased Premises, including that which is owned by or leased to Tenant’s , at all times prior to any foreclosure thereon by Landlord or repossession thereof by any lessor thereof or third party having a lien thereon. Landlord shall also have the right to remove from the Leased Premises and Commercial Park (without the necessity of obtaining a distress warrant, writ of sequestration or other legal process) all or any portion of such furniture, fixtures, equipment and other property located thereon and place same in storage at a judicial any premises within the county in which the Leased Premises are located or nonjudicial foreclosure saledispose of same in any manner acceptable to Landlord; and in such event, Tenant hereby expressly consents shall be liable to Landlord for costs incurred by Landlord in connection with such removal, storage and/or disposal and gives shall indemnify and hold Landlord harmless from all loss, damage, cost, expense and liability in connection with such removal, storage and/or disposal. Tenant stipulates and agrees that the authority to bid on and purchase all or a portion of Tenant’s property at such salerights herein granted Landlord are commercially reasonable.
Appears in 1 contract
Samples: Commercial Lease Agreement (Francesca's Holdings CORP)
LANDLORD'S LIEN. To secure (a) Subject to this Section 12.15, as security for the payment and performance of all of Tenant’s obligations and Landlord’s rights under this Lease, TenantTenant hereby assigns, as Debtorgrants, delivers, sets over and referred transfers to in this Section as “Debtor”, hereby Landlord and grants to Landlord, and Tenant shall cause the Operating Subtenants, to the extent permitted by Applicable Law, to assign, grant, deliver, set over and transfer to the applicable Landlord and grant to such Landlord, its successors and assigns pursuant to those certain Security Agreements dated of even date herewith (collectively, the “Security Agreements”), a continuing security interest in all of its right, title and interest, whether now owned or hereafter acquired, now existing or hereafter arising, wherever located, in and to (i) the Tenant’s Personal Property, (ii) all Permits, including without limitation the Health Care Licenses and the Provider Agreements and (iii) Accounts Receivables (collectively with the Tenant’s Personal Property and the Permits, the “Landlord Lien Collateral”) in each case to the extent owned by Tenant or Operating Subtenants, as “Secured Party”, applicable. The aforementioned grants of a security interest in the Landlord Lien Collateral shall, in each instance, create a first priority lien. Tenant shall sign and an express contractual lien upon all of Debtor’s equipment, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattelsdeliver, and other personal property of Debtor which is now on shall cause the Premises Operating Subtenants to sign and deliver, as applicable, to Landlord or which is placed on the Premises at some later dateapplicable Landlord, and all proceeds from such items. This property shall as the case may be, or if Tenant’s or the Operating Subtenants’ signatures are not be removed from the Premises without the consent of Secured Party until all arrearages in rent and all other sums of money being due required, Tenant hereby authorizes Landlord to Secured Party under this Lease have been paid and discharged, and all the covenants, agreements, and conditions of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease file (and any extensions shall cause each Operating Subtenant to authorize the applicable Landlord to file) in all necessary governmental offices, one or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file more financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering or other appropriate filings to perfect the security described above; moreoverinterest granted by Tenant to Landlord hereunder or by the Operating Subtenants to the applicable Landlord under the Security Agreements. Tenant shall promptly notify Landlord in writing if Tenant obtains any interest in any Collateral consisting of Deposit Accounts (other than payroll, Debtor agrees employee benefits, security deposits, withholding, escrow, trust accounts, tax withholding accounts and other similar fiduciary accounts) or intellectual property, and, upon Landlord’s request, shall promptly execute such documents and take such actions as Landlord deems appropriate to sign effect Landlord’s valid and enforceable security interest upon such Collateral, including obtaining any appropriate possession, access or control agreement. If any Collateral is in the same upon request. Notwithstanding possession of a third party, Tenant shall use commercially reasonably efforts to obtain an acknowledgment that such third party holds the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office Landlord Lien Collateral for the county where the Premises are located, as appropriatebenefit of Landlord. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party Landlord shall have all the rights and remedies of available to a secured party under the Uniform Commercial Code Code, as enacted amended from time to time. Tenant acknowledges that Landlord may collaterally assign its security interest in the State Landlord Lien Collateral to Mortgagee and/or to a Superior Landlord to secure Landlord’s obligations to Mortgagee or such Superior Landlord. Upon Landlord’s request, or at the request of TexasMortgagee, Tenant shall confirm in writing the grant of such security interests to Mortgagee and/or Superior Landlord. This These provisions of this Lease shall be deemed to be a security agreement for purposes of the Uniform Commercial Code. To the extent permitted by Applicable Law, in connection with the expiration or earlier termination of this Lease, Tenant shall cooperate with Landlord, and Tenant shall cause the Operating Subtenants to cooperate with the applicable Landlord, in causing the Health Care Licenses and the security interest hereby created Provider Agreements to be reissued in the name of Landlord or the applicable Landlord, as the case may be, or its designee as of such date or as soon thereafter as is practicable, and such Landlord shall be entitled to apply in its own name, its designee’s name or the Operating Subtenant’s name for the transfer of the Health Care Licenses and the Provider Agreements to Landlord or the applicable Landlord, as the case may be, or its designee, and Tenant’s obligation to cooperate and to cause the Operating Subtenants to cooperate shall survive the expiration or earlier termination of this Lease if such termination results from Debtor’s defaultLease. The above-described Any grant of security interest in, or pledge or collateral assignment of, the Landlord Lien Collateral by Tenant to any financial institution making a loan to Tenant shall be expressly subject to the terms of this Lease, including, without limitation, the foregoing rights of Landlord and lien are in addition security interest therein. Tenant shall provide, and shall cause the Operating Subtenant to and cumulative provide, to Landlord copies of the documents evidencing the Working Capital Loan within five (5) Business Days following receipt of Landlord’s lien provided by written request.
(b) Tenant shall not grant a security interest in, or pledge or collateral assignment of, the laws Landlord Lien Collateral (nor permit an Operating Subtenant to do so) without first complying with the terms and conditions of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such salethis Section 12.
Appears in 1 contract
Samples: Master Lease (Griffin-American Healthcare REIT IV, Inc.)
LANDLORD'S LIEN. To In addition to the statutory landlord's lien, Landlord shall have at all times a valid security interest to secure the performance payment of Tenant’s obligations under this Lease, all rent and other sums of money becoming due hereunder from Tenant, as Debtorand to secure payment of any damages or loss which Landlord may suffer by reason of the breach by Tenant of any covenant, and referred to in this Section as “Debtor”agreement or condition contained herein, hereby grants to Landlord, as “Secured Party”, a security interest in and an express contractual lien upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, improvements and other personal property of Debtor Tenant presently, or which is now may hereafter be, situated on the Premises or which is placed on the Premises at some later datePremises, and all proceeds from therefrom, and such items. This property shall not be removed from the Premises therefrom without the consent of Secured Party Landlord until all arrearages arrangements in rent as well as any and all other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged, discharged and all the covenants, agreements, agreements and conditions of this Lease hereof have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriateTenant. Upon the occurrence of an event of default under this Lease by DebtorTenant, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In Landlord may in addition to all rights any other remedies provided herein or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted adopted by the state in which the Premises are located (including without limitation Texas section 9.505(b) or its equivalent), enter upon the Premises and take possession of any and all goods, wares, equipment, fixtures, furniture, improvements and other personal property of Tenant situated on the Premises, without liability for trespass or conversion, and sell the same at public or private sale, with or without having such property at the sale, after giving Tenant reasonable notice of the time and place of any public sale or of the time after which any private sale is to be made, at which sale the Landlord or its assigns may purchase unless otherwise prohibited by law. Unless otherwise provided by law, and without intending to exclude any other manner of giving Tenant reasonable notice, the requirement of reasonable notice shall be met if such notice is given in the State manner prescribed in this Lease at least ten (10) days before the time of Texassale. This Any sale made pursuant to the provisions of this paragraph shall be deemed to have been a public sale conducted in a commercially reasonable manner if held in the above described Premises or where the property is located after the time, place and method of sale and a general description of the types of property to be sold have been advertised in a daily newspaper published in the county in which the Premises are located for five consecutive days before the date of the sale. The proceeds from any such disposition, less any and all expenses connected with the taking of possession, holding and selling of the property (including reasonable attorney's fees and legal expenses), shall be applied as a credit against the indebtedness secured by the security agreement granted in this paragraph. Any surplus shall be paid to Tenant or as otherwise required by law. The Tenant shall pay any deficiencies forthwith upon request or demand by Landlord. Tenant agrees to execute and deliver to Landlord a financing statement in form sufficient to perfect the security interest hereby created shall survive of Landlord in the termination aforementioned property and proceeds thereof under the provisions of this Lease if such termination results from Debtor’s defaultthe Uniform Commercial Code in force in the state in which the Premises are located. The above-described statutory lien for rent is not hereby waived, the security interest and lien are herein granted being in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such salesupplementary thereto.
Appears in 1 contract
Samples: Lease Agreement (Numbeer, Inc.)
LANDLORD'S LIEN. To secure the performance of TenantIn addition to any statutory lien for rent in Landlord’s obligations under this Leasefavor, Tenant, as Debtor, Landlord shall have and referred to in this Section as “Debtor”, Tenant hereby grants to Landlord, as “Secured Party”, Landlord a continuing security interest in for all rentals and an express contractual lien other sums of money become due hereunder from Tenant, upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, and other personal property of Debtor which is Tenant now on or hereafter situated at the Premises or which is placed on the Premises at some later datePremises, and all proceeds from such items. This property shall not be removed from the Premises therefrom without the consent of Secured Party Landlord until all arrearages in rent as well as any and all other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged. In the event any of the foregoing described property is removed from the Premises in violation of the covenant in the preceding sentence, the security interest shall continue in such property and all the covenantsproceeds and products, agreements, and conditions regardless of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriatelocation. Upon a default under this Lease hereunder by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In Tenant in addition to all other rights or remedies of Secured Party under this Lease and the lawremedies, including the right to a judicial or nonjudicial foreclosure, Secured Party Landlord shall have all the rights and remedies of a secured party under the Uniform Commercial Code including, without limitation, the right to sell the property described in this Paragraph at public or private sale upon five (5) days notice by Landlord. Tenant hereby agrees to execute such other instruments, necessary or desirable under applicable law to perfect the security interest hereby created. Landlord and Tenant agree that this Lease and security agreement serves as enacted in 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 State of Texassame force and effect as the original. This security agreement and financing statement also covers fixtures located at the security interest hereby created shall survive Premises subject to this Lease and identified in Exhibit “A” attached hereto and incorporated herein by reference and is to be filed for record in the termination real estate records. The record owner of this Lease if such termination results from Debtor’s default. The property is AMB Property II, L.P. Notwithstanding the above-described security interest and lien are in addition to and cumulative of , Landlord agrees that the foregoing Landlord’s lien provided by shall be subordinate to the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion liens of Tenant’s property at floor financing creditors, GE Distribution Finance and IBM Credit LLC (the “Lenders”). In furtherance thereof, and subject to the terms of Paragraph 22M of this Lease, Landlord agrees to execute instruments consistent with the form attached hereto as Exhibit “C”, subject to reasonable modifications requested by the Lenders, provided that such saleinstruments are executed by the Lenders and consented to by Tenant in writing. 27.
Appears in 1 contract
LANDLORD'S LIEN. To secure In addition to any statutory lien for Rent in Landlord’s favor, Landlord (the performance of Tenant’s obligations under this Lease, Tenant, as Debtor, secured party for purposes hereof) shall have and referred to in this Section as “Debtor”, Tenant (the debtor for purposes hereof) hereby grants to Landlord, as “Secured Party”, a continuing security interest in for all Base Rent, Additional Rent and an express contractual lien other sums of money becoming due hereunder from Tenant, upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattelsaccounts, contract rights, chattel paper and other personal property of Debtor which is now Tenant situated on the Leased Premises or which is placed on the Premises at some later date, subject to this Lease and all proceeds from such items. This property shall not be removed from the Premises therefrom without the consent of Secured Party Landlord until all arrearages in rent Rent as well as any and all other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged, and all . In the covenants, agreements, and conditions event of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by DebtorLease, any or all of Debtor’s obligations to Secured Party secured hereby shalllandlord shall have, at Secured Party’s option, be immediately due and payable without notice or demand. In in addition to all rights any other remedies provided herein or remedies of Secured Party under this Lease and the by law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted Code, including without limitation the right to sell the property described in the State of Texasthis Section at public or private sale upon ten (10) days notice to Tenant which notice Tenant hereby agrees is adequate and reasonable. This security agreement and Tenant hereby agrees to execute such other instruments necessary or desirable in Landlord’s discretion to perfect the security interest hereby created shall survive created. Any statutory lien for Rent in not hereby waived, the termination of this Lease if such termination results from Debtor’s defaultexpress contractual lien herein being granted in addition and supplementary thereto. The above-described Tenant warrants and represents that the collateral subject to the security interest granted herein is not purchased or used by Tenant for personal, family or household purposes. Tenant further warrants and represents that the lien are granted herein constitutes a first and superior lien and the Tenant will not allow the placing of any other lien upon the property described in addition to and cumulative this Section without the prior written consent of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such sale.
Appears in 1 contract
Samples: Office Lease Agreement (Diamondback Energy Services, Inc.)
LANDLORD'S LIEN. To secure the performance fullest extent permitted by applicable --------------- law, Landlord is granted a lien and security interest on all of Tenant’s obligations under this Lease, 's personal property (including Tenant, as Debtor's Personal Property) now or hereinafter placed in or upon the Leased Property, and referred to in this Section as “Debtor”, hereby grants to Landlord, as “Secured Party”, a such lien and security interest shall remain attached to such Tenant's personal property until payment in full of all Rent and an express contractual lien upon satisfaction of all of Debtor’s equipmentTenant's obligations hereunder; provided, furniturehowever, furnishings, appliances, goods, trade fixtures, inventory, chattels, Landlord shall subordinate its lien and other security interest to that of any non-Affiliate of Tenant which finances such Tenant's personal property or any non-Affiliate conditional seller of Debtor which is now on such Tenant's personal property, the Premises or which is placed on the Premises at some later date, and all proceeds from such items. This property shall not be removed from the Premises without the consent of Secured Party until all arrearages in rent and all other sums of money being due to Secured Party under this Lease have been paid and discharged, and all the covenants, agreements, terms and conditions of this Lease have been fully complied with and performed by Debtorsuch subordination to be satisfactory to Landlord in the exercise of reasonable discretion. Secured Party is authorized and Debtor hereby irrevocably and throughout Tenant shall, upon the term request of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file Landlord, execute such financing statements signed only or other documents or instruments reasonably requested by Secured Party Landlord to perfect the lien and security interests herein granted.
7.1 Condition of the Leased Property. Tenant acknowledges receipt and -------------------------------- delivery of possession of the Leased Property. Tenant has examined and otherwise has knowledge of the condition of the Leased Property and has found the same to be satisfactory for its purposes hereunder. Tenant is leasing the Leased Property "as attorney-in-fact on behalf is" in its present condition. Tenant waives any claim or action against Landlord in respect of Debtor covering the security described above; moreovercondition of the Leased Property. LANDLORD MAKES NO WARRANTY OR REPRESENTATION, Debtor EXPRESS OR IMPLIED, IN RESPECT OF THE LEASED PROPERTY, OR ANY PART THEREOF, EITHER AS TO ITS FITNESS FOR USE, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE OR OTHERWISE, AS TO THE QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, LATENT OR PATENT, IT BEING AGREED THAT ALL SUCH RISKS ARE TO BE BORNE BY TENANT. TENANT ACKNOWLEDGES THAT THE LEASED PROPERTY HAS BEEN INSPECTED BY TENANT AND IS SATISFACTORY TO IT. Provided, however, to the extent permitted by law, Landlord hereby assigns to Tenant all of Landlord's rights to proceed against any predecessor in title other than Tenant (or an Affiliate of Tenant which conveyed the Property to Landlord) for breaches of warranties or representations or for latent defects in the Leased Property. Landlord shall fully cooperate with Tenant in the prosecution of any such claim, in Landlord's or Tenant's name, all at Tenant's sole cost and expense. Tenant hereby agrees to sign the same upon request. Notwithstanding the foregoingindemnify, Secured Party is hereby authorized to file a duplicate original defend and hold harmless Landlord from and against any costs, claims, obligations and liabilities against or Xerox copy of this Lease as a financing statement incurred by Landlord in connection with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in the State of Texas. This security agreement and the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such salecooperation.
Appears in 1 contract
LANDLORD'S LIEN. To In addition to any statutory landlord’s lien, now or hereafter enacted, Tenant grants to Landlord, to secure the performance of Tenant’s obligations under this Lease, Tenant, as Debtor, and referred to in this Section as “Debtor”, hereby grants to Landlord, as “Secured Party”hereunder, a security interest in and an express contractual lien upon all of DebtorTenant’s equipmentproperty situated in or upon, furnitureor used in connection with, furnishings, appliances, goods, trade fixtures, inventory, chattels, and other personal property of Debtor which is now on the Premises or which is placed on the Premises at some later dateProject, and all proceeds from such items. This property thereof (except merchandise sold in the ordinary course of business) (collectively, the “Collateral”), and the Collateral shall not be removed from the Premises or the Project without the prior written consent of Secured Party Landlord until all arrearages in rent and all other sums obligations of money being due to Secured Party under this Lease have been paid and discharged, and all the covenants, agreements, and conditions of this Lease Tenant have been fully complied with performed. Such personalty thus encumbered includes specifically all trade and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout other fixtures for the term purpose of this Lease Section 20 and inventory, equipment, contract rights, accounts receivable and the proceeds thereof. Upon the occurrence of an Event of Default, Landlord may, in addition to all other remedies, without notice or demand except as provided below, exercise the rights afforded to a secured party under the Uniform Commercial Code of the state in which the Premises are located (the “UCC”). To the extent the UCC requires Landlord to give to Tenant notice of any act or event and such notice cannot be validly waived before a default occurs, then five-days’ prior written notice thereof shall be reasonable notice of the act or event. In order to perfect such security interest, Landlord may file any extensions financing statement or renewals thereof) appoints Secured Party as its attorney-in-fact other instrument necessary at Tenant’s expense at the state and county Uniform Commercial Code filing offices. Tenant grants to prepare Landlord a power of attorney to execute and file any financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering statement or other instrument necessary to perfect Landlord’s security interest under this Section 20, which power is coupled with an interest and is irrevocable during the security described above; moreover, Debtor agrees to sign the same upon requestTerm. Notwithstanding the foregoing, Secured Party is hereby authorized to Landlord may also file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted perfect its security interest in the State Collateral. Within ten (10) days following written request therefor, Tenant shall execute financing statements to be filed of Texas. This security agreement and the record to perfect Landlord’s security interest hereby created shall survive in the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such saleCollateral.
Appears in 1 contract
Samples: Lease Agreement
LANDLORD'S LIEN. To secure the performance payment of Tenant’s obligations under this Leaserent and the other liabilities of Tenant hereunder, Tenant, as Debtor, and referred to in this Section as “Debtor”, Tenant hereby grants to Landlord, as “Secured Party”, Landlord a security interest in and an express contractual lien upon all of Debtor’s Tenant's personal property and fixtures (including without limitation, Tenant's inventory and equipment, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, and other personal property of Debtor whether now or hereinafter acquired) which is now on or hereinafter located at the Leased Premises or which is placed on and in the Premises proceeds thereof, including tort claims and insurance (all hereinafter collectively referred to as "Collateral"). Tenant represents that the Collateral will be used primarily in conducting a business at some later date, and all proceeds from such itemsthe Leased Premises. This property Tenant shall not be removed permit the removal of any collateral from the Premises without Leased Premises, except in the consent ordinary course of Secured Party until all arrearages in rent and all other sums of money being due Tenant's business. Tenant authorizes Landlord to Secured Party under this Lease have been paid and discharged, and all the covenants, agreements, and conditions of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements relating to the Collateral signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriateLandlord. Upon default under this Lease by Debtorthe occurrence of an Event of Default, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party Landlord shall have all the rights and remedies of a secured party available under Indiana law. These remedies include, without limitation, the Uniform Commercial Code as enacted right to take possession of the Collateral and for that purpose Landlord may enter upon any premises on which the collateral, or any part of it, may be situated and remove it and Tenant shall hold Landlord harmless from any liability sustained thereby, except through wanton or willful misbehavior. Landlord may require that Tenant make the Collateral available to Landlord at a place to be designated by Landlord which is reasonably convenient to both parties. Unless the Collateral threatens to decline speedily in value or is of a type customarily sold on a recognized market, Landlord shall give Tenant at least ten (10) days' prior written notice of the State time and place of Texasany public sale thereof or of the time at which any private sale or any other intended disposition thereof is to be made. This security agreement Expenses of retaking, holding, preparing for sale, selling and the security interest hereby created like shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest include Landlord's reasonably attorneys' fees and lien are in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such salelegal expenses.
Appears in 1 contract
Samples: Lease (First Shares Bancorp Inc)
LANDLORD'S LIEN. To secure the performance of Tenant’s obligations under this Lease, Tenant, as Debtor, and referred to in this Section as “Debtor”, Tenant hereby grants to Landlord, as “Secured Party”, Landlord a lien and security interest on all property of Tenant now or hereafter placed in or upon the Premises, and an express contractual such property shall be and remain subject to such lien and security interest of Landlord for payment of all Rent and other sums agreed to be paid by Tenant herein. This lien shall also secure payment of any damages or loss which Landlord may suffer by reason of the breach by Tenant of any covenant, agreement or condition contained herein, upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, improvements and other personal property of Debtor which is now on the Premises Tenant presently or which is placed on may hereinafter be situated in the Premises at some later datePremises, and all proceeds from therefrom, and such items. This property shall not be removed from the Premises therefrom without the consent of Secured Party Landlord until all arrearages in rent Rent as well as any and all other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged, discharged and all of the covenants, agreements, and conditions of this Lease hereof have been fully complied with and performed by DebtorTenant. Secured Party In consideration of this Lease, upon the occurrence of an event of default by Tenant, Landlord may, in addition to any other remedies provided herein, enter upon the Premises and take possession of any and all goods, wares, equipment, fixtures, furniture, improvements, and other personal property of Tenant situated on or in the Premises, without liability for trespass or conversion, and sell the same at public or private sale, with or without having such property at the sale, after giving Tenant reasonable notice of the time and place of any public sale or of the time after which any private sale is authorized to be made, at which sale Landlord or its assigns may purchase unless otherwise prohibited by law. Unless otherwise provided by law, and Debtor hereby irrevocably and throughout without intending to exclude any other manner of giving Tenant reasonable notice, the term requirement of reasonable notice shall be met if such notice is given in the manner prescribed in Section 34 of this Lease dealing with “Notices” in this Lease at least five (5) days before the time of sale. The proceeds from any such disposition, less any and any extensions or renewals thereof) appoints Secured Party all expenses connected with the taking of possession, holding and selling of the property (including reasonable attorney’s fees and other expenses), shall be applied as its attorney-in-fact to prepare and file financing statements signed only a credit against the indebtedness secured by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreoverinterest granted in this Section 21. Any surplus shall be paid to Tenant or as otherwise required by law, Debtor and Tenant shall pay any deficiencies forthwith. Upon request by Landlord, Tenant agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized execute and deliver to file a duplicate original or Xerox copy of this Lease as Landlord a financing statement with in form sufficient to perfect the Office security interest of Landlord in the Secretary aforementioned property and proceeds thereof under the provisions of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in force in the State of Texas. This security agreement and the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such saleFlorida.
Appears in 1 contract
Samples: Office Lease (Marpai, Inc.)
LANDLORD'S LIEN. To In addition to the statutory Landlord's lien, Landlord shall have at all times a valid security interest to secure the performance payment of Tenant’s obligations under this Lease, Tenant, as Debtor, all Rent and referred to in this Section as “Debtor”, hereby grants other sums of money becoming due hereunder to Landlord, as “Secured Party”and to secure payment of any damages or loss which Landlord may suffer by reason of the breach by Tenant of any covenant, a security interest in and an express contractual lien agreement or condition contained herein, upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, improvements and other personal property of Debtor Tenant presently, or which is now may hereafter be, situated on the Premises or which is placed on the Premises at some later dateDemised Premises, and all proceeds from therefrom, and such items. This property shall not be removed from the Premises without the consent of Secured Party Landlord until all arrearages in rent Rent as well as any and all other sums of money being then due to Secured Party under this Lease Landlord or to become due to Landlord hereunder shall first have been paid and discharged, discharged and all the covenants, agreements, agreements and conditions of this Lease hereof have been fully complied with and performed by DebtorTenant. Secured Party Upon the occurrence of an event of default by Tenant, Landlord may, in addition to any other remedies provided herein, enter upon the Demised Premises and take possession of any and all goods, wares, equipment, fixtures, furniture, improvements and other personal property of Tenant situated on the Demised Premises, without liability for trespass or conversion, and sell the same at public or private sale, with or without having such property at the sale, after giving Tenant reasonable notice of the time and place of any public sale or of the time after which any private sale is authorized to be made, at which sale the Landlord or its assigns may purchase unless otherwise prohibited by law. Unless otherwise provided by law, and Debtor hereby irrevocably and throughout without intending to exclude any other manner of giving Tenant reasonable notice, the term requirement of reasonable notice shall be met if such notice is given in the manner prescribed in this Lease at least ten (10) days before the time of sale. Any sale made pursuant to the provision of this Lease Section shall be deemed to have been a public sale conducted in commercially reasonable manner if held in the Demised Premises or where the property is located after the time, place and method of sale and a general description of the types of property to be sold have been advertised in a daily newspaper published in the county in which the property is located, for five (5) consecutive days before the date of the sale. The proceeds from any such disposition, less any and any extensions or renewals thereof) appoints Secured Party all expenses connected with the taking of possession, holding and selling of the property (including reasonable attorneys' fees and legal expenses), shall be applied as its attorney-in-fact to prepare and file financing statements signed only a credit against the indebtedness secured by Secured Party as attorney-in-fact on behalf of Debtor covering the security described aboveinterest granted in this Section. Any surplus shall be paid to Tenant or as otherwise required by law; moreoverTenant shall pay any deficiencies forthwith. Upon request by Landlord, Debtor Tenant agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized execute and deliver to file a duplicate original or Xerox copy of this Lease as Landlord a financing statement with in form sufficient to perfect the Office security interest of Landlord in the Secretary aforementioned property and proceeds thereof under the provision of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted (or corresponding state statute or statutes) in force in the State of Texas. This security agreement and , as well as any other state the laws of which Landlord may at any time consider to be applicable, or at Landlord's option, Landlord shall have the right to file of record a photocopy of this Lease in order to perfect the security interest hereby of Landlord created shall survive the termination of this Lease if such termination results from Debtor’s defaultherein. The above-described statutory lien for Rent is not hereby waived, the security interest and lien are herein granted being in addition to and cumulative supplementary thereto. Tenant hereby waives its lien rights under Section 91.004 of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such saleTexas Property Code.
Appears in 1 contract
LANDLORD'S LIEN. To secure the performance of TenantIn addition to any statutory lien for rent in Landlord’s obligations under this Leasefavor, Tenant, as Debtor, Landlord shall have and referred to in this Section as “Debtor”, Tenant hereby grants to Landlord, as “Secured Party”, Landlord a continuing security interest in for all rentals and an express contractual lien other sums of money becoming due hereunder from Tenant, upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattelsaccounts, contract rights, chattel paper and other personal property of Debtor which is now Tenant situated on the Premises or which is placed on the Premises at some later datePremises, and all proceeds from such items. This property shall not be removed from the Premises therefrom without the consent of Secured Party Landlord until all arrearages in rent as well as any and all other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged. Products of collateral are also covered. The record owner of such property is Tenant unless otherwise designated in writing to Landlord. Upon the occurrence of an Event of Default under this Lease, Landlord shall have, in addition to any other remedies provided herein or by law, all rights and all remedies under the covenantsUniform Commercial Code, agreementsincluding without limitation the right to sell the property described in this Section 20 at public or private sale upon five (5) days notice to Tenant. Tenant hereby authorizes Landlord at any time and from time to time to file any initial financing statements, amendments thereto and conditions continuation statements as authorized by applicable law, required by Landlord to establish or maintain the validity, perfection and priority of the security interests granted in this Lease. For purposes of such filings, Xxxxxx agrees to furnish any information requested by Landlord promptly upon request by Landlord. Tenant also ratifies its authorization for Landlord to have filed any like initial financing statements, amendments thereto or continuation statements if filed prior to the Lease have been fully complied with and performed by DebtorDate. Secured Party is authorized and Debtor Tenant hereby irrevocably constitutes and throughout the term of this Lease (appoints Landlord and any extensions officer or renewals thereof) appoints Secured Party agent of Landlord, with full power of substitution, as its attorneytrue and lawful attorneys-in-fact with full irrevocable power and authority in the place and stead of Tenant or in Xxxxxx’s own name to prepare execute in Xxxxxx’s name any such documents and file financing statements signed only to otherwise carry out the purposes of this Section 20, to the extent that Xxxxxx’s authorization above is not sufficient. To the extent permitted by Secured Party as attorneylaw, Tenant hereby ratifies all acts said attorneys-in-fact on behalf of Debtor covering the security described above; moreovershall lawfully do, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted done in the State of Texaspast or cause to be done in the future by virtue hereof. This security agreement power of attorney is a power coupled with an interest and shall be irrevocable. Any statutory lien for rent is not hereby waived, the express contractual lien herein granted being in addition and supplementary thereto. Tenant warrants that the collateral subject to the security interest granted herein is not purchased or used by Tenant for personal, family or household purposes. Within twenty (20) days of Xxxxxx’s written request therefor, Landlord shall execute a subordination of lien, in a form provided by Landlord at the time of such request, for the purpose of subordinating the lien hereby created shall survive the termination of granted to Landlord pursuant to this Lease if such termination results from Debtor’s default. The above-described security interest and lien are in addition Section 20 to and cumulative any purchase money financing required by Tenant to purchase any of the goods, wares, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper and other personal property encumbered by such lien. Concurrently with Xxxxxx’s request for such subordination, Tenant shall pay to Landlord a fee of $1,500 to defray Landlord’s lien provided by the laws of the State of Texasexpenses in reviewing such request. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, DCB 14 Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such sale.D.A.
Appears in 1 contract
Samples: Lease Agreement (Wallbox N.V.)
LANDLORD'S LIEN. To secure Tenant, in consideration for the performance Landlord’s lease of the Premises and as security for the obligations of Tenant hereunder, shall grant Landlord a continuing security interest on the items of Tenant’s obligations under this Lease, Tenant, as DebtorPersonal Property consisting of [***] Miners, and referred associated monitoring and control systems, but expressly excluding the contents of any of the foregoing such as software, data or other analog or digital information stored on the foregoing or any related intellectual property rights (the “Encumbered Personal Property”) as such property is delivered to the Premises; provided Tenant shall have the right to replace, maintain and repair any such Encumbered Personal Property in the ordinary course and as provided pursuant to Section 8.3.4; provided further, that the lien of any Leasehold Mortgage shall be subordinate to the lien provided for in this Section as “Debtor”, hereby grants to Landlord, as “Secured Party”, a security interest in and an express contractual lien upon all of Debtor’s equipment, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels14.5, and other personal property of Debtor which is now on the Premises or which is placed on the Premises at some later dateTenant shall, and shall cause any Leasehold Mortgagee to, execute all proceeds from such items. This property shall not be removed from the Premises without the consent of Secured Party until all arrearages in rent reasonable documents and all other sums of money being due to Secured Party under this Lease have been paid and discharged, and all the covenants, agreements, including, in such forms as are reasonably required by Landlord to evidence such subordination. Tenant acknowledges and conditions of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and agrees that Landlord may file UCC-1 financing statements signed only by Secured Party as attorney-in-fact on behalf in the office of Debtor covering the security described above; moreoverappropriate governmental authority, Debtor in connection with such lien. Landlord agrees to sign release the same upon request. Notwithstanding lien at the foregoing, Secured Party is hereby authorized to file a duplicate original expiration or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in the State of Texas. This security agreement and the security interest hereby created shall survive the earlier termination of this Lease if subject to satisfaction of any unpaid amounts due and owing from Tenant (which obligation shall survive such expiration or earlier termination results of this Lease). Tenant agrees to enter into a security agreement or such other documentation as Landlord may reasonably require in order to perfect and enforce its interest in the Encumbered Personal Property, so long as such agreement and/or documentation is on usual and customary terms. For clarity, Landlord will be bound by its confidentiality and non-use obligations under Section 17.19; provided, however, that Landlord shall not be precluded from Debtor’s default. The above-described security interest and lien are filing UCC-1 financing statements with sufficiently detailed collateral descriptions in addition order to and cumulative of the perfect Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells on Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such saleEncumbered Personal Property.
Appears in 1 contract
LANDLORD'S LIEN. To (a) In order to secure payment of all rent payable by Tenant to Landlord under this Lease and the faithful performance and observance of Tenant’s obligations all covenants and agreements of Tenant under this Lease, Tenant, as DebtorTenant grants to Landlord a lien and security interest on all Trade Fixtures, and referred to in this Section as “Debtor”all goods, hereby grants to Landlordwares, as “Secured Party”fixtures, a security interest in and an express contractual lien upon all of Debtor’s equipment, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, furniture and other personal property of Debtor which is now on or hereafter placed in or upon the Premises or which is placed on the Premises at some later date, and all proceeds from such itemsLeased Premises. This Such property shall not be removed from the Leased Premises without unless such removal is in the consent ordinary course of Secured Party until all arrearages Tenant's business and Tenant is not at the time of such removal in rent and all other sums of money being due to Secured Party default under this Lease have been paid Lease. Tenant shall execute as debtor such financing statements as Landlord may now or hereafter reasonably request in order to perfect such security interest under the Uniform Commercial Code as enacted and dischargedenforced in the State of Texas, and all the covenants, agreements, and conditions of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and Landlord may at its election at any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to time file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are locatedstatement. Landlord, as appropriate. Upon default under this Lease by Debtorsecured party, any or shall be entitled to all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of afforded a secured party under the said Uniform Commercial Code as enacted in the State of Texas. This security agreement and the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are code, in addition to and cumulative of the Landlord’s lien 's liens and rights provided by law or by the laws other terms and provisions of the State of TexasLease. In the event The lien and security interest granted to Landlord sells Tenant’s property at a judicial hereby foreclosed with or nonjudicial foreclosure without court proceedings by public or private sale, provided that Landlord shall give Tenant at least five (5) days prior notice of the time and place of said sale, which Tenant hereby expressly consents acknowledges and agrees to be reasonable notice of such sale; and gives Landlord shall have the authority right to bid become a purchaser on and purchase all or a portion being the highest bidder at any such sale. 26
(b) Provided that an event of default by tenant under this Lease (as defined in Section 6.1 hereof) does not then exist, Landlord agrees that upon written request of Tenant’s , Landlord shall execute and deliver to Tenant an agreement, reasonably satisfactory in form to Landlord and Landlord's attorneys, subordinating all of Landlord's liens and security interests, both statutory and contractual, to the lien or security interest of any lender taking or succeeding to a purchase money security interest on the Trade Fixtures, equipment, furniture and other personal property of Tenant located within the Leased Premises specified in such request. Such agreement shall contain a detailed and complete list of the specific items to which such agreement shall be applicable and shall also provide: (i) that such agreement shall be applicable only to property which Tenant has the right to remove upon expiration or earlier termination of the Lease and (ii) that any damage to the Leased Premise caused by the removal of the encumbered property shall be repaired to Landlord's satisfaction by the lender at such saleno cost to Landlord.
Appears in 1 contract
Samples: Lease (Verio Inc)
LANDLORD'S LIEN. To In addition to the statutory Landlord's Lien, Lessor shall have at all times a valid security interest to secure the performance payment of Tenant’s obligations under this Leaseall Rentals, Tenant, as DebtorAdditional Rental and other sums of money becoming due hereunder from Lessee, and referred to in this Section as “Debtor”secure payment of any damages or loss which Lessor may suffer by reason of the breach by Lessee of any covenant, hereby grants to Landlordagreement or condition contained herein, as “Secured Party”, a security interest in and an express contractual lien upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, improvements and other personal property of Debtor which is now on the Premises Lessee presently or which is placed on may hereinafter be situated in the Premises at some later dateOffice Space, and all proceeds from therefrom, and such items. This property shall not be removed from the Premises therefrom without the consent of Secured Party Lessor until all arrearages in rent Rent, as well as any and all other sums of money being then due to Secured Party under this Lease Lessor hereunder, shall first have been paid and discharged, discharged and all of the covenants, agreements, and conditions of this Lease hereof have been fully complied with and performed by DebtorLessee. Secured Party In consideration of this Lease, upon the occurrence of an event of default by Lessee, Lessor may, in addition to any other remedies provided herein, enter upon the Office Space and take possession of any and all goods, wares, equipment, fixtures, furniture, improvements, and other personal property of Lessee situated on or in the Office Space, without liability for trespass or conversion, and sell the same at public or private sale, with or without having such property at the sale, after giving Lessee reasonable notice of the time and place of any public sale or of the time after which any private sale is authorized to be made, at which sale the Lessor or its assigns may purchase unless otherwise prohibited by law. Unless otherwise provided by law, and Debtor hereby irrevocably and throughout without intending to exclude any other manner of giving Lessee reasonable notice, the term requirement of reasonable notice shall be met if such notice is given in the manner prescribed in Item 23 of this Lease at least five (5) days before the time of sale. The proceeds from any such disposition, less any and any extensions or renewals thereofall expenses connected with the taking of possession, holding and selling of the property (including reasonable attorneys' fees and other expenses) appoints Secured Party shall be applied as its attorney-in-fact to prepare and file financing statements signed only a credit against the indebtedness secured by Secured Party as attorney-in-fact on behalf of Debtor covering the security described aboveinterest granted in this Item 18. Any surplus shall be paid to Lessee or as otherwise required by law; moreoverand Lessee shall pay any deficiencies forthwith. Upon request by Lessor, Debtor Lessee agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized execute and deliver to file a duplicate original or Xerox copy of this Lease as Lessor a financing statement with in form sufficient to perfect the Office security interest of Lessor in the Secretary aforementioned property and proceeds thereof under the provisions of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in force in the State of Texasin which the Building is located. This security agreement and The statutory lien for Rent is not hereby waived, the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are herein granted being in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such salesupplementary thereto.
Appears in 1 contract
Samples: Lease Agreement (National Medical Health Card Systems Inc)
LANDLORD'S LIEN. To In addition to any statutory landlord's lien and in order to secure payment of the performance Rent and all other sums payable hereunder by Tenant, and to secure payment of any loss, cost or damage which Landlord may suffer by reason of Tenant’s obligations under 's breach of this LeaseAgreement, Tenant, as Debtor, and referred to in this Section as “Debtor”, Tenant hereby grants to unto Landlord, as “Secured Party”to the maximum extent permitted by Applicable Law, a security interest in and an express contractual lien upon Tenant's Personal Property and Tenant's interest in all ledger sheets, files, records, documents and instruments (including, without limitation, computer programs, tapes and related electronic data processing but specifically excluding the Excluded Assets) relating to the operation of Debtor’s equipment, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, and other personal property of Debtor which is now on the Premises or which is placed on Facilities (the Premises at some later date, “Records”) and all proceeds from therefrom, in each case subject to any Permitted Encumbrances or Permitted Liens; and such items. This property Tenant's Personal Property shall not be removed from the Premises Leased Property at any time when an Event of Default has occurred and is continuing. -00- Xxxx Xxxxxxxx'x request, Tenant shall execute and deliver to Landlord financing statements in a form sufficient to perfect the security interest of Landlord in that portion of Tenant's Personal Property in which Landlord is entitled to a security interest and the proceeds thereof in accordance with the provisions of the applicable laws of the State. During the continuance of an Event of Default, Tenant hereby grants Landlord an irrevocable limited power of attorney, coupled with an interest, to execute all such financing statements in Tenant's name, place and stead. The security interest herein granted is in addition to any statutory lien for the Rent. ARTICLE 8 PERMITTED CONTESTS Tenant shall have the right to contest the amount or validity of any Imposition, Legal Requirement, Insurance Requirement, Environmental Obligation, lien, attachment, levy, encumbrance, charge or claim (collectively, “Claims”) as to the Leased Property, by appropriate legal proceedings, conducted in good faith and with due diligence, provided that (a) the foregoing shall in no way be construed as relieving, modifying or extending Tenant's obligation to pay (or cause to be paid) any Claims as finally determined, (b) such contest shall not cause Landlord or Tenant to be in default under any mortgage or deed of trust encumbering the Leased Property or any portion thereof (Landlord agreeing that any such mortgage or deed of trust shall permit Tenant to exercise the rights granted pursuant to this Article 8) or any interest therein or result in or reasonably be expected to result in a lien attaching to the Leased Property or any portion thereof (provided that Tenant shall have the right to proceed with any such contest so long as Tenant posts collateral or otherwise bonds over any such lien in accordance with Applicable Law and in a manner and amount which are otherwise satisfactory to Landlord in its sole discretion), (c) no part of the Leased Property nor any Rent therefrom shall be in any immediate danger of sale, forfeiture, attachment or loss, and (d) Tenant shall indemnify and hold harmless Landlord from and against any cost, claim, damage, penalty or reasonable expense, including reasonable attorneys' fees, incurred by Landlord in connection therewith or as a result thereof. Landlord agrees to join in any such proceedings if required legally to prosecute such contest, provided that Landlord shall not thereby be subjected to any liability therefor (including, without limitation, for the consent payment of Secured Party until all arrearages any costs or expenses in rent connection therewith) unless Tenant agrees by agreement in form and all other sums substance reasonably satisfactory to Landlord, to assume and indemnify Landlord with respect to the same. Tenant shall be entitled to any refund of money being due to Secured Party under this Lease any Claims and such charges and penalties or interest thereon which have been paid by Tenant or paid by Landlord to the extent that Landlord has been fully reimbursed by Tenant. If Tenant shall fail (i) to pay or cause to be paid any Claims when finally determined, (ii) to provide reasonable security therefor or (iii) to prosecute or cause to be prosecuted any such contest diligently and dischargedin good faith, Landlord may, upon reasonable notice to Tenant (which notice shall not be required if Landlord shall reasonably determine that the same is not practicable), pay such charges, together with interest and penalties due with respect thereto, and all the covenantsTenant shall reimburse Landlord therefor, agreements, and conditions of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are locateddemand, as appropriateAdditional Charges. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in the State of Texas. This security agreement and the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such sale.-36- ARTICLE 9
Appears in 1 contract
Samples: Lease Agreement
LANDLORD'S LIEN. To secure the performance of Tenant’s obligations under this LeaseIn addition to any statutory lien for rent in Landlord's favor, Tenant, as Debtor, Landlord shall have and referred to in this Section as “Debtor”, Tenant hereby grants to Landlord, as “Secured Party”, Landlord a continuing security interest in all rentals and an express contractual lien upon other sums of money which may become due under this Lease from Tenant, all of Debtor’s goods, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, and other personal property of Debtor which is Tenant now or hereafter situated at, on or within the Premises or which is placed on the Premises at some later datereal property described in EXHIBIT "A" attached hereto and incorporated herein by reference, and all proceeds from such items. This property shall not be removed from the Premises therefrom without the consent of Secured Party until all arrearages Landlord, except in rent the ordinary course of Tenant's business. In the event any of the foregoing described property is removed from the Premises in violation of the covenant in the preceding sentence, the security interest shall continue in such property and all proceeds and products, regardless of location. Upon an Event of Default hereunder by Tenant, in addition to all of Landlord's other sums of money being due rights and remedies, Landlord shall have all rights and remedies under the Uniform Commercial Code, including without limitation the right to Secured Party sell the property described in this paragraph at public or private sale at any time after ten (10) days' prior notice by Landlord. Tenant hereby agrees to execute such other instruments deemed by Landlord as necessary or desirable under applicable law to perfect more fully the security interest hereby created. Landlord and Tenant agree that this Lease have been paid and discharged, security agreement and all the covenants, agreements, and conditions of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease EXHIBIT "A" attached hereto serves as a financing statement with the Office and that a copy, photograph or other reproduction of the Secretary this portion of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease may be filed of record by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due Landlord and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease have the same force and effect as the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in the State of Texasoriginal. This security agreement and financing statement also covers fixtures located at the security interest hereby created shall survive the termination of Premises subject to this Lease if such termination results from Debtor’s default. The above-and legally described security in EXHIBIT "A" attached hereto, and all rents or other consideration received by or on behalf of Tenant in connection with any assignment of Tenant's interest and lien are in addition to and cumulative this Lease or any sublease of the Landlord’s lien provided by Premises or any part thereof, and, therefore, may also be filed for record in the laws of the State of Texasappropriate real estate records. In the event Within fifteen (15) days after request from Tenant, Landlord sells Tenant’s property at shall execute a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion subordination agreement in favor of Tenant’s property at 's lender with respect to any liens arising in favor of Landlord against Tenant's fixtures and personal property. Such subordination agreement shall substantially be in the form as shown attached in EXHIBIT "H," provided that Tenant's lender shall be permitted to negotiate reasonable changes to such saleform.
Appears in 1 contract
LANDLORD'S LIEN. To secure Landlord shall have a Landlord's statutory lien, and in addition thereto, Landlord shall have, and Tenant hereby grants unto Landlord a security interest, in all of the performance goods, wares, furniture, fixtures, office equipment, supplies and other property of Tenant now or hereafter placed in, upon, or about the Premises and all proceeds thereof, as security for all of the obligations of Tenant under this Lease. Tenant shall not remove any of said personal property from the Premises until all of Tenant’s 's obligations under this Lease have been satisfied in full. Upon the occurrence of an event of default by Tenant as set forth in this Lease, Landlord may, to the extent permitted by applicable law, in addition to any other remedies provided herein enter upon the Premises and take possession of any and all goods, wares, equipment, fixtures, furniture, improvements and other personal property of Tenant situated on the Premises, without liability for trespass or conversion, and sell the same at public or private sale, with or without having such property at the sale, after giving Tenant reasonable notice of the time and place of any public sale or the time after which any private sale is to be made; and at any such sale the Landlord or its assigns may purchase any of Tenant's personal property unless prohibited by law. The proceeds of any such disposition, less any and all expenses connected with the taking of possession, holding and selling of the property (including attorneys' fees and other expenses), shall be applied as a credit against the indebtedness secured by the security interest granted in this section. Any surplus shall be paid to Tenant or as otherwise required by law and Tenant shall pay any deficiencies forthwith to Landlord. Upon request by Landlord, Tenant agrees to execute and deliver to Landlord a financing statement in form sufficient to perfect the security interest of Landlord in the aforementioned property and proceeds thereof under the relevant provisions of the Uniform Commercial Code, as Debtor, and referred to adopted by the jurisdiction in this Section as “Debtor”, hereby grants to which the Premises are situated. Upon request by Landlord, as “Secured Party”Tenant shall provide the name and address of any entity that has, or claims to have, an interest (including, without limitation, a security interest in and an express contractual lien upon all of Debtor’s equipment, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, and other personal any property of Debtor which is now located on the Premises or which is placed on and a description of such property). Failure to provide such a list shall result in a presumption that all property located in the Premises at some later datebelongs to Tenant :free from all claims. Without intending to execute any other manner of giving Tenant any required notice, and all proceeds from any requirement of reasonable notice to Tenant of Landlord's intention to dispose of any collateral pursuant to the enforcement of said security interest shall be made if such items. This property shall not be removed from notice is given in the Premises without the consent of Secured Party until all arrearages in rent and all other sums of money being due to Secured Party under manner prescribed by this Lease have been paid and discharged, and all the covenants, agreements, and conditions of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in the State of Texas. This security agreement and the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such salenotices.
Appears in 1 contract
Samples: Shopping Center Lease (Southern Concepts Restaurant Group, Inc.)
LANDLORD'S LIEN. To secure In addition to the performance of Tenantstatutory landlord’s obligations under this Leaselien, Tenant, as Debtor, and referred to in this Section as “Debtor”, Tenant hereby grants to Landlord, as “Secured Party”, Landlord a security interest in to secure payment of all rent or other sums of money coming due hereunder from Tenant, and an express contractual lien to secure payment of any damages or loss or condition contained herein, upon all of Debtor’s equipmentgoods, wares, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, improvements and other personal property of Debtor Tenant presently or which is now may hereafter be situated on the Premises or which is placed on the Premises at some later datepremises, and all proceeds from such itemsthere from. This Such property shall not be removed from the Premises premises without the consent of Secured Party the Landlord until all arrearages in rent and all as well as any other sums of money being due to Secured Party under this Lease the Landlord hereunder shall first have been paid and discharged, and all the covenants, agreements, and conditions of this Lease hereof have been fully complied with fulfilled and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demandTenant. In addition to any other remedies provided herein, upon an event of default, Landlord may enter the premises and take possession of any and all rights goods, wares, equipment, fixtures, furniture, improvements and other personal property of Tenant situated upon the premises without liability for trespass or remedies conversion. Landlord may sell the same at a public or private sale, with or without having such property at the sale, after giving Tenant reasonable notice as to the time and place of Secured Party under the sale. At such sale, Landlord or its assigns may purchase the property unless such purchase is otherwise prohibited by law. Unless otherwise provided by law, the requirement of reasonable notice shall be met is such notice is given to Tenant at the address hereafter prescribed at least five (5) days prior to the time of the sale. The proceeds of any such disposition, less all expenses connected with the taking of possession and sale of the property, including a reasonable attorney fee, shall be applied as a credit against the indebtedness secured by the security interest granted in this Lease paragraph. Any surplus shall be paid to Tenant and Tenant shall pay any deficiencies upon demand. Upon request by Landlord, Tenant will execute and deliver to Landlord a financing statement in a form sufficient to perfect the security interest of Landlord in the aforementioned property and the law, including proceeds thereof under the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies provisions of a secured party under the Uniform Commercial Code as enacted in force in the State of Texas. This security agreement and The statutory lien for rent is not waived; the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are herein granted is in addition and supplementary thereto. Notwithstanding anything to and cumulative of the Landlord’s contrary, Landlord shall subrogate its Lien to any other existing or contemplated equipment lien provided or security arrangement to a lending institution by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such sale.
Appears in 1 contract
Samples: Lease Agreement
LANDLORD'S LIEN. To secure the performance of Tenant’s obligations under this LeaseIn addition to any statutory lien for rent in Landlord's favor, Tenant, as Debtor, Landlord shall have and referred to in this Section as “Debtor”, Tenant hereby grants to Landlord, as “Secured Party”, Landlord a continuing security interest in all rentals and an express contractual lien upon other sums of money which may become due under this Lease from Tenant, all of Debtor’s goods, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, and other personal property of Debtor which is Tenant now or hereafter situated at, on or within the Premises or which is placed on the Premises at some later datereal property described in EXHIBIT "A" attached hereto and incorporated herein by reference, and all proceeds from such items. This property shall not be removed from the Premises therefrom without the consent of Secured Party until all arrearages Landlord, except in rent the ordinary course of Tenant's business. In the event any of the foregoing described property is removed from the Premises in violation of the covenant in the preceding sentence, the security interest shall continue in such property and all proceeds and products, regardless of location. Upon an Event of Default hereunder by Tenant, in addition to all of Landlord's other sums of money being due rights and remedies, Landlord shall have all rights and remedies under the Uniform Commercial Code, including without limitation the right to Secured Party sell the property described in this paragraph at public or private sale at any time after ten (10) days prior notice by Landlord. Tenant hereby agrees to execute such Other instruments deemed by Landlord as necessary or desirable under applicable law to Perfect more fully the security interest hereby created. Landlord and Tenant agree that this Lease have been paid and discharged, security agreement and all the covenants, agreements, and conditions of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease EXHIBIT "A" attached hereto serves as a financing statement with the Office and that a copy, photograph or other reproduction of the Secretary this portion of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease may be filed of record by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due Landlord and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease have the same force and effect as the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted in the State of Texasoriginal. This security agreement and financing statement also covers fixtures located at the security interest hereby created shall survive the termination of Premises subject to this Lease if such termination results from Debtor’s default. The above-and legally described security in EXHIBIT "A" attached hereto, and all rents or other consideration received by or on behalf of Tenant in connection with any assignment of Tenant's interest and lien are in addition to and cumulative this Lease or any sublease of the Landlord’s lien provided by Premises or any part thereof, and, therefore, may also be filed for record in the laws appropriate real estate records. EXECUTED BY LANDLORD, this 20/th/ day of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure saleNovember, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such sale1995.
Appears in 1 contract
LANDLORD'S LIEN. To secure In addition to any statutory lien for rent in Landlord's favor, Landlord (the performance of Tenant’s obligations under this Lease, Tenant, as Debtor, secured party for purposes hereof) shall have and referred to in this Section as “Debtor”, Tenant (the debtor for purposes hereof) hereby grants to Landlord, as “Secured Party”subject to the last sentence of this paragraph, a continuing security interest in for all Base Rental, rent and an express contractual lien other sums of money becoming due hereunder from Tenant, upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattelsaccounts, contract rights, chattel paper and other personal property of Debtor which is now Tenant situated on the Premises or subject to this Lease being described as Suite 500 of the Building, located in Dallas, Dallas County, Texas (a description of the property in and upon which is placed on the Premises at some later dateis located and an outline of the Premises are attached hereto as EXHIBIT "A" and EXHIBIT "B" respectively), and all proceeds from such items. This property shall not be removed from the Premises therefrom without the consent of Secured Party Landlord until all arrearages in rent as well as any and all other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged, and all the covenants, agreements, and conditions of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where Fixtures located at the Premises and products of collateral are located, as appropriate. Upon default under this Lease also covered hereby by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted filing hereof in the State real property records of Texas. This security agreement and the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Dallas County, Texas. In the event of a default under this Lease, Landlord sells Tenant’s shall have, in addition to any other remedies provided herein or by law, all rights and remedies under the Uniform Commercial Code, including without limitation the right to sell the property described in this Paragraph at a judicial public or nonjudicial foreclosure sale, private sale upon ten (10) days notice to Tenant which notice Tenant hereby expressly consents agrees is adequate and reasonable. Tenant hereby agrees to execute such other instruments necessary or desirable in Landlord's discretion to perfect the security interest hereby created. Any statutory lien for rent is not hereby waived, the express contractual lien herein EXHIBIT 10.6 granted being in addition and gives supplementary thereto. Landlord and Tenant agree that this Lease and the authority security interest granted herein serve as a financing statement and a copy or photographic or other reproduction of this Paragraph of this Lease may be filed of record by Landlord and have the same force and effect as the original. Tenant warrants and represents that the collateral subject to bid the security interest granted herein is not purchased or used by Tenant for personal, family or household purposes. Tenant further warrants and represents to Landlord that the lien granted herein constitutes a first and superior lien and that Tenant will not allow the placing of any other lien upon any of the property described in this Paragraph without the prior written consent of Landlord. Record owner of the Premises is 14850 Quorum Associates, Ltd. Tenant/Debtor's address is 00000 XXXXXX XXXXX, XXXXX 000, XXXXXX, XXXXX 00000 and Landlord/Secured Party's address is C/X XXXXXX BROTHERS, 3 WORLD FINANCIAL XXXXXX, 00XX XXXXX, XXX XXXX, XX 00000. Landlord, on and purchase all or a portion case-by case basis, not as a blanket waiver of lien, will subordinate the landlord's lien granted in this paragraph to the lien of Tenant’s property at such sale's lending institution on any furniture, fixtures or equipment after Landlord is presented proper documentation of that lending institution's lien on said furniture, fixtures and equipment.
Appears in 1 contract
LANDLORD'S LIEN. To secure the performance of Tenant’s obligations under this Lease, Tenant, as Debtor, and referred to in this Section as “Debtor”, Tenant hereby grants to Landlord, as “Secured Party”, Landlord a security interest in to secure payment of all rent and an express contractual lien other sums of money coming due hereunder from Tenant, and to secure payment of any damages or loss which Landlord may suffer by reason of the breach by Tenant of any covenant, agreement, or condition contained herein, upon all of Debtor’s equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattels, improvements and other personal property of Debtor Tenant presently or which is now may hereafter be situated on the Premises or which is placed on the Premises at some later dateLeased Premises, and all proceeds from such itemstherefrom. This Such property shall not be removed from the Leased Premises at any time without the consent of Secured Party the Landlord until all arrearages in rent and all as well as any other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged, and all the covenants, agreements, and conditions of this Lease hereof have been fully complied with fulfilled and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by Debtor, any or all of Debtor’s obligations to Secured Party secured hereby shall, at Secured Party’s option, be immediately due and payable without notice or demandTenant. In addition to any other remedies provided herein, in the event of default, Landlord may enter the Leased Premises and take possession of any and all rights equipment, fixtures, furniture, improvements and other personal property of Tenant situated upon the Leased Premises without liability for trespass or remedies conversion. Landlord may sell the same at a public or private sale, with or without having such property at the sale, after giving Tenant reasonable notice as to the time and place of Secured Party under the sale. At such sale, Landlord or its assigns may purchase the Property unless such purchase is otherwise prohibited by law. Unless otherwise provided by law, the requirement of reasonable notice shall be met if such notice is given to Tenant at the address hereafter prescribed at least fifteen (15) days prior to the time of the sale. The proceeds of any such disposition, less all expenses connected with the taking of possession and sale of the property, including a reasonable attorney’s fee, shall be applied as a credit against the indebtedness secured by the security interest granted in this Lease paragraph. Any surplus shall be paid to Tenant and Tenant shall pay any deficiencies upon demand. Upon request by Landlord, Tenant will execute and deliver to Landlord a financing statement in a form sufficient to perfect the security interest of the Landlord in the aforementioned property and the law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party proceeds thereof under the Uniform Commercial Code as enacted provision of the uniform commercial code in force in the State of Texas. This security agreement and The statutory lien for rent is not waived; the security interest hereby created shall survive the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and lien are herein granted is in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such salesupplementary thereto.
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Samples: Lease Agreement (Matinee Media CORP)
LANDLORD'S LIEN. To secure the performance of Tenant’s obligations under this LeaseIn addition to any statutory lien for Rent in Landlord's favor, Tenant, as Debtor, Landlord shall have and referred to in this Section as “Debtor”, Tenant hereby grants to Landlord, as “Secured Party”, Landlord a continuing security interest in for all Rent and an express contractual lien other sums of money becoming due hereunder from Tenant, upon all of Debtor’s goods, wares, equipment, fixtures, furniture, furnishings, appliances, goods, trade fixtures, inventory, chattelsaccounts, contract rights, chattel paper and other personal property of Debtor which is now Tenant situated on the Premises or which is placed on the Premises at some later datehas been purchased by Tenant by use of a tenant improvement allowance, if any, and all proceeds from such items. This property shall not be removed from the Premises therefrom without the consent of Secured Party Landlord until all arrearages in rent as well as any and all other sums of money being then due to Secured Party under this Lease Landlord hereunder shall first have been paid and discharged, and all . In the covenants, agreements, and conditions event of this Lease have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriate. Upon default under this Lease by DebtorLease, any or all of Debtor’s obligations to Secured Party secured hereby shallLandlord shall have, at Secured Party’s option, be immediately due and payable without notice or demand. In in addition to all rights any other remedies provided herein or remedies of Secured Party under this Lease and the by law, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code as enacted Code, including without limitation the right to sell the property described in this Paragraph at public or private sale upon providing the State of Texasnotice called for by the Uniform Commercial Code, or if none is so supplied by providing five (5) Business Days written notice to Tenant. This Tenant hereby agrees that Landlord may record this Lease or a memorandum thereof at Landlord's discretion. Tenant further agrees that this Lease shall constitute a security agreement and further agrees to execute for recordation, simultaneously with execution of this Lease or at such other time designated by Landlord at its sole discretion, such financing statements and other instruments deemed necessary or desirable in the sole discretion of Landlord to perfect the security interest hereby created shall survive created. Any statutory lien for Rent is not hereby waived, the termination of this Lease if such termination results from Debtor’s default. The above-described security interest and express contractual lien are herein granted being in addition to and cumulative of the Landlord’s lien provided by the laws of the State of Texas. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure sale, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such salesupplementary thereto.
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LANDLORD'S LIEN. To secure In addition to the performance of Tenant’s obligations under this Leasestatutory landlord's lien, Tenant, as Debtor, and referred to in this Section as “Debtor”, hereby Tenant grants to Landlord, as “Secured Party”to secure performance of Tenant's obligations hereunder, a security interest in and an express contractual lien upon all of Debtor’s goods, inventory, equipment, fixtures, furniture, furnishingsimprovements, applianceschattel paper, goodsaccounts, trade fixtures, inventory, chattelsand general intangibles, and other personal property of Debtor which is Tenant now or hereafter situated on or relating to Tenant's use of the Premises or which is placed on the Premises at some later datePremises, and all proceeds there from such items. This property (the "Collateral"), and the Collateral shall not be removed from the Premises without the consent of Secured Party Landlord until all arrearages in rent and all other sums obligations of money being due to Secured Party under this Lease have been paid and discharged, and all the covenants, agreements, and conditions of this Lease Tenant have been fully complied with and performed by Debtor. Secured Party is authorized and Debtor hereby irrevocably and throughout the term of this Lease (and any extensions or renewals thereof) appoints Secured Party as its attorney-in-fact to prepare and file financing statements signed only by Secured Party as attorney-in-fact on behalf of Debtor covering the security described above; moreover, Debtor agrees to sign the same upon request. Notwithstanding the foregoing, Secured Party is hereby authorized to file a duplicate original or Xerox copy of this Lease as a financing statement with the Office of the Secretary of State and with the appropriate county clerk’s office for the county where the Premises are located, as appropriateperformed. Upon default under this Lease by Debtorthe occurrence of an Event of Default, any or Landlord may, in addition to all of Debtor’s obligations to Secured Party secured hereby shallother remedies, at Secured Party’s option, be immediately due and payable without notice or demand. In addition to all rights or remedies of Secured Party under this Lease and the lawdemand except as provided below, including the right to a judicial or nonjudicial foreclosure, Secured Party shall have all exercise the rights and remedies of afforded a secured party under the Uniform Commercial Code as enacted in of the State in which the Building is located (the "UCC"). In connection with any public or private sale under the UCC, Landlord shall give Tenant ten-days' prior written notice of Texasthe time and place of any public sale of the Collateral or of the time after which any private sale or other intended disposition thereof is to be made, which is agreed to be a reasonable notice of such sale or other disposition. This All proceeds of any such sale may be applied first to the payment of expenses incurred by Landlord in enforcing this security agreement interest (including reasonable attorneys' fees and expenses). Tenant hereby authorizes Landlord to file financing statement(s) in form sufficient to perfect the security interest hereby created shall survive the termination granted hereunder. Landlord may also file a copy of this Lease if such termination results from Debtor’s default. The above-described or this provision as a financing statement to perfect its security interest and lien are in addition to and cumulative of the Landlord’s lien provided by the laws of the State of TexasCollateral. In the event Landlord sells Tenant’s property at a judicial or nonjudicial foreclosure saleTENANT ACKNOWLEDGES THAT (1) IT HAS INSPECTED AND ACCEPTS THE PREMISES IN AN "AS IS, Tenant hereby expressly consents to and gives Landlord the authority to bid on and purchase all or a portion of Tenant’s property at such sale.WHERE IS" CONDITION, SUBJECT TO LANDLORD'S OBLIGATIONS UNDER EXHIBIT B, IF ANY, (2) THE BUILDING'S IMPROVEMENTS ARE SUITABLE FOR THE PURPOSE FOR WHICH THE PREMISES ARE LEASED AND LANDLORD HAS MADE NO WARRANTY, REPRESENTATION, COVENANT, OR AGREEMENT WITH RESPECT TO THE MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF THE PREMISES, (3) THE PREMISES ARE IN GOOD AND SATISFACTORY CONDITION, (4) NO REPRESENTATIONS AS TO THE REPAIR OF THE PREMISES, NOR PROMISES TO ALTER, REMODEL OR IMPROVE THE PREMISES HAVE BEEN MADE BY LANDLORD (UNLESS AND EXCEPT AS MAY BE SET FORTH IN EXHIBIT B ATTACHED TO THIS LEASE, OR AS IS OTHERWISE EXPRESSLY SET FORTH IN THIS LEASE), AND (5) NO WARRANTIES, EXPRESS OR IMPLIED, ARE MADE REGARDING THE CONDITION OR SUITABILITY OF THE PREMISES ON THE COMMENCEMENT DATE. FURTHER, TO THE EXTENT PERMITTED BY LAW, TENANT WAIVES ANY IMPLIED WARRANTY OF SUITABILITY OR OTHER IMPLIED WARRANTIES THAT LANDLORD WILL MAINTAIN OR REPAIR THE PREMISES OR ITS APPURTENANCES EXCEPT AS MAY BE CLEARLY AND EXPRESSLY PROVIDED IN THIS LEASE. Legal Description: Parcel 1:
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