LANDLORD'S LIEN. In addition to any statutory lien for rent in Landlord's favor, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlord, an express contract lien and a continuing security interest to secure the payment of all Rent due hereunder from Tenant, upon all goods, wares, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper and other personal property of Tenant (and any transferees or other occupants of the Premises) presently or hereafter situated on the Premises and upon all proceeds of any insurance which may accrue to Tenant by reason of damage or destruction of any such property. 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 remedies under the Uniform Commercial Code of the state in which the Premises 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. 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 supplementary thereto. Landlord and Tenant agree that this Lease and the 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 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 Article without the prior written consent of Landlord.
Appears in 3 contracts
Samples: Standard Form Office Lease (Ritz Interactive, Inc.), Office Lease Agreement (Universal Access Inc), Office Lease Agreement (RDC International Inc)
LANDLORD'S LIEN. In addition to any statutory lien for rent in Landlord's favor, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlord, an express contract lien and Landlord a continuing security interest to secure the payment of all Rent due hereunder from Tenant, upon in all goods, waresinventory, furniture, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper trade fixtures and other personal property of (collectively, “Tenant’s Property”) belonging to Tenant (and any transferees which are or other occupants of the Premises) presently or hereafter situated on may be placed in the Premises and upon during the term of this Lease together with all proceeds of the foregoing. Said security interest shall secure all amounts payable by Tenant hereunder, including all costs of collection and any insurance which may accrue other indebtedness of Tenant to Tenant by reason of damage or destruction of any such propertyLandlord. In Upon the event occurrence of a default under this Leaseby Tenant hereunder which is not cured within any applicable cure period, Landlord shall havemay, in addition to and not in lieu of any other remedies provided herein set forth herein, enter upon the Premises, by force if necessary, and take possession of Tenant’s Property without liability for trespass or by lawconversion, all rights and remedies under the Uniform Commercial Code of the state in which the Premises is locatedsell Tenant’s Property, including or any part thereof, with or without limitation the right notice to sell the property described in this paragraph Tenant, at public or private sale, with or without having Tenant’s Property at such sale upon ten and Landlord or its assignee may purchase and apply the proceeds thereof, less any expenses incurred in connection with taking possession and selling Tenant’s Property, as a credit against any sums due by Tenant to Landlord pursuant hereto. Any surplus remaining after a sale shall be paid to Tenant and any deficiency shall be immediately paid to Landlord by Tenant. Within seven (107) days' notice to Tenantdays after Landlord’s request therefor, which notice Tenant hereby agrees is adequate and reasonable. Tenant hereby agrees to shall execute such other instruments any financing statement or security agreement Landlord deems necessary or desirable in Landlord's discretion to perfect the such security interest hereby createdin Tenant’s Property. Any statutory The lien for rent is not hereby waived, the express contractual lien herein granted being hereunder shall be in addition and supplementary thereto. Landlord and Tenant agree to any Landlord’s lien that this Lease and the security interest granted herein serve as a financing statement, and a copy may now or photographic or other reproduction of this Paragraph of this Lease may at any time hereafter be filed of record provided 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 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 Article without the prior written consent of Landlordlaw.
Appears in 3 contracts
Samples: Lease (U-Store-It Trust), Lease (U-Store-It Trust), Lease (U-Store-It Trust)
LANDLORD'S LIEN. In addition to any statutory landlord’s lien for rent now in Landlord's favoreffect or hereafter enacted, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlord, an express contract lien and to secure performance of Tenant’s obligations hereunder, a continuing security interest in all of Tenant’s property situated in or upon, or used in connection with, the Premises or the Project, and all proceeds thereof (except merchandise sold in the ordinary course of business) (collectively, the “Collateral”) which lien shall be subordinate to secure any lien granted to Tenant’s lender (“Tenant’s Lender”). and subject to the payment superior rights of any Tenant’s Lender, the Collateral shall not be removed from the Premises or the Project other than the ordinary course of business without the prior written consent of Landlord until all Rent due hereunder from Tenant, upon obligations of Tenant have been fully performed. Such personalty thus encumbered includes specifically all goods, warestrade and other fixtures for the purpose of this Section 20 and inventory, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper accounts receivable and other personal property the proceeds thereof. Upon the occurrence of Tenant (and any transferees or other occupants an Event of the Premises) presently or hereafter situated on the Premises and upon all proceeds of any insurance which may accrue to Tenant by reason of damage or destruction of any such property. In the event of a default under this LeaseDefault, Landlord shall havemay, in addition to any all other remedies remedies, without notice or demand except as provided herein or by lawbelow, all exercise the rights and remedies afforded to a secured party under the Uniform Commercial Code of the state in which the Premises is located, including without limitation are located (the right to sell the property described in this paragraph at public or private sale upon ten (10“UCC”) days' notice to Tenant, which notice Tenant hereby 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 supplementary thereto. Landlord and Tenant agree that this Lease and the 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 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 rights of any other lien upon Tenant’s Lender. 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 property described in this Article without act or event. In order to perfect such security interest, Tenant authorizes Landlord to file any financing statement or other instrument necessary at Landlord’s expense at the prior written consent state and county Uniform Commercial Code filing offices. The landlord’s lien shall survive the expiration or earlier termination of the Lease, until all obligations of Tenant have been fully performed. Landlord shall promptly file at Landlord.’s expense any financing statements needed to subordinate its interest to Tenant’s Lender
Appears in 2 contracts
Samples: Office Lease Agreement (Dermavant Sciences LTD), Office Lease Agreement (Dermavant Sciences LTD)
LANDLORD'S LIEN. In addition to any statutory lien for rent in Landlord's favor, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlord, an express contract lien and Landlord a continuing security interest to secure the payment of all Rent rent or 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 goods, wares, equipment, fixtures, furniture, improvements, inventory, accountsconsumer goods, contract rights, chattel paper goods and other any and all personal property of Tenant (and any transferees presently or other occupants of which may hereafter be situated in, on or upon the Premises) presently or hereafter situated on the Premises , and upon all proceeds therefrom including, but not limited to, all proceeds of any insurance which may accrue to Tenant by reason of damage to or destruction of any such property; provided, however, that Tenant does not grant Landlord a security interest in any proprietary property of Tenant including such property contained in its computers, medical research data, patents or drug molecules (the “Excluded Items”). In the event of a During any period that Tenant is in default under this LeaseLease beyond all applicable notice and cure periods, such property shall not be removed from the Premises at any time without the consent of Landlord until all arrearages of rent, as well as any other sums of money then due to Landlord hereunder, shall havefirst have been paid and discharged, in and all the covenants, agreements and conditions hereof have been fulfilled and performed by Tenant. In addition to any other remedies provided herein herein, upon Tenant’s default under this Lease beyond all applicable notice and cure periods, Landlord may enter the Premises and take possession of any and all equipment, fixtures, furniture, improvements and other personal property of Tenant situated in, on or upon the Premises (other than the Excluded Items) without liability for trespass or conversion. Landlord may sell the same at a public or private sale, after giving Tenant at least (10) ten days written notice sent to the Tenant’s last known address as to the time and place of the sale. At such sale, Landlord or Landlord’s 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 the Tenant at the address herein prescribed at least five (5) days prior to the time of the sale. Proceeds of any such disposition, less all rights expenses including reasonable attorney’s fees, 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 and remedies Tenant shall pay any deficiency upon demand. Tenant consents to the filing by Landlord of financing statements in a form acceptable to Landlord sufficient to protect the security interest of Landlord In the aforementioned property and the proceeds thereof under the applicable provisions of the Uniform Commercial Code of the state in which the Premises Code. The statutory lien 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 not waived 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 is in addition and supplementary thereto. Landlord and Tenant agree that this Lease and the 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 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 Article without the prior written consent of Landlord.
Appears in 2 contracts
Samples: Industrial Space Lease (XBiotech Inc.), Industrial Space Lease (XBiotech Inc.)
LANDLORD'S LIEN. In addition to any statutory landlord’s lien for rent now in Landlord's favoreffect or hereafter enacted, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlord, an express contract lien and to secure performance of Tenant’s obligations hereunder, a continuing security interest to secure in all of Tenant’s property situated in or upon, or used in connection with, the payment Premises or the Project, and all proceeds 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 Landlord until all Rent due hereunder from Tenant, upon obligations of Tenant have been fully performed. Such personalty thus encumbered includes specifically all goods, warestrade and other fixtures for the purpose of this Section 20 and inventory, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper accounts receivable and other personal property the proceeds thereof. Upon the occurrence of Tenant (and any transferees or other occupants an Event of the Premises) presently or hereafter situated on the Premises and upon all proceeds of any insurance which may accrue to Tenant by reason of damage or destruction of any such property. In the event of a default under this LeaseDefault, Landlord shall havemay, in addition to any all other remedies remedies, without notice or demand except as provided herein or by lawbelow, all exercise the rights and remedies 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 financing statement or other instrument necessary at Tenant’s expense at the state and county Uniform Commercial Code filing offices. Tenant grants to Landlord a power of attorney coupled with an interest to execute and file any financing statement or other instrument necessary to perfect Landlord’s security interest under this Section 20, which power is located, including without limitation coupled with an interest and is irrevocable during the right Term. Landlord may also file a copy of this Lease as a financing statement to sell perfect its security interest in the property described in this paragraph at public or private sale upon Collateral. Within ten (10) days' notice days following written request therefor, Tenant shall execute financing statements to Tenant, which notice Tenant hereby 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 supplementary thereto. Landlord and Tenant agree that this Lease and the 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 the perfect Landlord’s security interest granted herein is not purchased in the Collateral. The landlord’s lien shall survive the expiration 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 earlier termination of the property described in this Article without the prior written consent Lease, until all obligations of LandlordTenant have been fully performed.
Appears in 2 contracts
Samples: Office Lease Agreement (Interpace Biosciences, Inc.), Office Lease Agreement (Cancer Genetics, Inc)
LANDLORD'S LIEN. In addition to any statutory lien for rent in Landlord's favor, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlord, an express contract lien and a continuing security interest to 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 from and the faithful performance of all covenants, agreements and stipulations herein contained to be performed by Tenant, upon 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, fixturessupplies and merchandise) which may be placed in the Leased Premises, furniture, inventory, accounts, contract rights, chattel paper and other personal property of Tenant (and any transferees or other occupants of the Premises) presently or hereafter situated on the Premises and also upon all proceeds of any insurance which may accrue to Tenant by reason of damage or destruction of or damage to any such property. In 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 event Landlord's statutory lien and shall be cumulative thereof. Tenant shall not remove any property from the Leased Premises until all of a default Tenant's obligations under this Lease are satisfied. This lien may be foreclosed with or without court proceedings by public or private sale, provided Landlord gives Tenant at least ten (10) days notice of the time, place 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 Lease, and if requested thereafter by Landlord, Tenant shall execute and deliver to Landlord shall havefinancing 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 Landlord a power of attorney to sign, in place and stead of Tenant, any and all such instruments. Said power of attorney is irrevocable and coupled with an interest. Landlord shall, in addition to any other remedies provided herein or by lawall of its rights hereunder, have all of the rights and remedies of a secured party under the Uniform Commercial Code of the state in which the Premises 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 Texas Business 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 supplementary thereto. Landlord and Tenant agree that this Lease and the 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 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 Article without the prior written consent of LandlordCommerce Code.
Appears in 2 contracts
Samples: Office/Surgical Care Center Lease Agreement (Dynacq International Inc), Hospital Lease Agreement (Dynacq International Inc)
LANDLORD'S LIEN. In addition to any statutory lien for rent in Landlord's favor, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlord, an express contract lien and Landlord a continuing security interest to secure the payment of all Rent rent or 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 goods, wares, equipment, fixtures, furniture, improvements, inventory, accountsconsumer goods, contract rights, chattel paper goods and other any and all personal property of Tenant (and any transferees presently or other occupants of which may hereafter be situated in, on or upon the Premises) presently or hereafter situated on the Premises , and upon all proceeds therefrom including, but not limited to, all proceeds of any insurance which may accrue to Tenant by reason of damage to or destruction of any such property; provided, however, that Tenant does not grant Landlord a security interest in any proprietary property of Tenant including such property contained in its computers, medical research data, patents or drug molecules (the “Excluded items”). In the event of a During any period that Tenant is in default under this LeaseLease beyond all applicable notice and cure periods, such property shall not be removed from the Premises at any time without the consent of Landlord until all arrearages of rent, as well as any other sums of money then due to Landlord hereunder, shall havefirst have been paid and discharged, in and all the covenants, agreements and conditions hereof have been fulfilled and performed by Tenant. In addition to any other remedies provided herein herein, upon Tenant’s default under this Lease beyond all applicable notice and cure periods, Landlord may enter the Premises and take possession of any and all equipment, fixtures, furniture, improvements and other personal property of Tenant situated in, on or upon the Premises (other than the Excluded items) without liability for trespass or conversion. Landlord may sell the same at a public or private sale, after giving Tenant at least (10) ten days written notice sent to the Tenant’s last known address as to the time and place of the sale. At such sale, Landlord or Landlord’s 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 the Tenant at the address herein prescribed at least five (5) days prior to the time of the sale. Proceeds of any such disposition, less all rights expenses including reasonable attorney’s fees, 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 and remedies Tenant shall pay any deficiency upon demand. Tenant consents to the filing by Landlord of financing statements in a form acceptable to Landlord sufficient to protect the security interest of Landlord in the aforementioned property and the proceeds thereof under the applicable provisions of the Uniform Commercial Code of the state in which the Premises Code. The statutory lien 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 not waived 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 is in addition and supplementary thereto. Landlord and Tenant agree that this Lease and the 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 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 Article without the prior written consent of Landlord.
Appears in 2 contracts
Samples: Industrial Space Lease (XBiotech Inc.), Industrial Space Lease (XBiotech Inc.)
LANDLORD'S LIEN. In addition to any the statutory lien for rent in Landlord's favorlien, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlordhave, an express contract lien and at all times, a continuing valid security interest to secure the payment of all Rent rentals 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 goods, wares, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper improvements and other personal property of Tenant (and any transferees or other occupants of the Premises) presently or which may hereafter be situated on the Premises and upon all proceeds therefrom, and such property shall not be removed therefrom without the consent of Landlord until all arrearages in rent as well as any insurance which may accrue and all other sums of money then due to Tenant Landlord hereunder shall first have been paid and discharged and all the covenants, agreements and conditions hereof have been fully complied with and performed by reason Tenant, upon the occurrence of damage or destruction of any such property. In the an event of a default under this Leaseby Tenant, Landlord shall havemay, in addition to any other remedies provided herein or by lawherein, all rights and remedies under the Uniform Commercial Code of the state in which enter upon the Premises is locatedand take possession of any and all goods, including wares, equipment, fixtures, furniture, improvements and other personal property of Tenant situated on the Premises without limitation the right to liability for trespass or conversion, and sell the property described in this paragraph 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 upon ten or of the time after which any private sale is to be made, at which sales 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 Paragraph 27 of this lease at least five (105) daysdays 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' notice to Tenantfees and other expenses), which notice Tenant hereby agrees is adequate and reasonable. Tenant hereby agrees to execute such other instruments necessary or desirable in Landlord's discretion to perfect shall be applied as a credit against the indebtedness secured by the security interest hereby createdgranted in this Paragraph 24. Any surplus shall be paid to Tenant or as otherwise required by law; and the Tenant shall pay any deficiencies forthwith. The 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 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 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 Article without the prior written consent of Landlord.
Appears in 2 contracts
Samples: Annual Report, Office Lease Agreement (Sonus Networks Inc)
LANDLORD'S LIEN. A. In addition to and cumulative of any statutory or constitutional lien for rent in Landlord's favorto which Lessor may be entitled, Landlord (the secured party for purposes hereof) Lessor shall have and Tenant (the debtor a lien as security for purposes hereof) hereby grants to Landlord, an express contract lien and a continuing security interest to secure the payment of all Rent due hereunder from Tenant, upon all goods, wares, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper rents and other personal property covenants of Tenant Lessee herein on Lessee’s Property; provided, however, Lessor acknowledges and agrees that any statutory or constitutional liens of Lessor and the lien granted to Lessor pursuant to this Section 22 (collectively, “Lessor’s Liens”) are subordinate to any and any transferees or other occupants of the Premises) presently all properly perfected liens now or hereafter situated on held by any of Lessee’s lenders, including all renewals, modifications, and 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 execute and deliver to Lessee or any of Lessee’s lenders any instrument reasonably requested to evidence such subordination. Lessor hereby appoints Lessee as its true and lawful agent and attorney-in-fact (“Attorney-in-Fact”) for the Premises Lessor and upon in the Lessor’s name, place and stead for the sole purpose of executing and delivering all proceeds documents and to take such action as is deemed necessary to evidence subordination of any insurance which may accrue to Tenant by reason of damage or destruction of any such property. In Lessor’s Liens in the event of a Lessor fails to execute and deliver such instrument as herein required. If Lessee is in default under this Lease, Landlord 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 upon the written request of the holder of such superior lien. Subject to the rights of superior lien holders, Lessor may sell Lessee’s Property at a public or private sale to the highest bidder for cash thirty (30) days after written notice of such sale has been mailed to Lessee at its last known address. The proceeds of any such sale shall havebe first applied by Lessor to the cost of such sale and then to 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 any other remedies provided herein 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 by lawhereafter located upon the Leased Premises, all rights and remedies which may be granted a secured party, as that term is defined, under the Uniform Commercial Texas Business and Commerce Code to secure to Lessor payment of all sums due and the state in which full performance of all Lessee’s covenants under this Lease. Lessee will on request execute and deliver to Lessor a financing statement for the Premises 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; such filing shall not be a violation of Section 37 of this Lease. Unless otherwise provided by law and for the purpose of exercising any right pursuant to this section, Lessor and Lessee agree that reasonable notice shall be met if such notice is located, including without limitation the right to sell the property described in this paragraph at public or private sale upon given by ten (10) days' notice days written notice, certified mail, return receipt requested, to Tenant, which notice Tenant hereby agrees is adequate and reasonable. Tenant hereby agrees to execute such other instruments necessary Lessor or desirable in Landlord's discretion to perfect Lessee at 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 and the 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 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 Article without the prior written consent of Landlordaddresses specified herein.
Appears in 2 contracts
Samples: Commercial Lease Agreement (Argyle Security, Inc.), Commercial Lease Agreement (Argyle Security, Inc.)
LANDLORD'S LIEN. In addition to any statutory lien for rent in Landlord's favor, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlord, an express contract lien and a continuing security interest to secure the payment of all Rent due hereunder from Tenant, upon all goods, wares, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper and other personal All property of Tenant (and any transferees which is now or other occupants of hereafter may be in or upon the Premises) presently , whether or hereafter situated on not exempt from execution, shall be bound by and subject to lien and also to the Premises and upon all proceeds of any insurance which may accrue to Tenant by reason of damage or destruction of any such property. In the event encumbrance of a default under this Leasesecurity interest in said property, which hereby Tenant grants to Landlord shall have, in addition to any other remedies provided herein or by law, all rights and remedies under accordance with the provisions of Uniform Commercial Code of ("UCC") in the state in which the Premises is locatedare located for the payment of all rents and charges herein reserved and for the payment of any damages arising from Tenant's breach of any of the covenants or agreements of this Lease; provided that the provisions hereof shall not apply to inventory stock-in-trade kept by Tenant, including but the lien and security interest hereby created shall apply as to all other property of Tenant now or hereafter in or upon said Premises. Tenant hereby appoints Landlord as its agent and attorney-in-fact to execute any and all financing statements, amendments and extensions thereof on UCC forms on behalf of Tenant, and to file the same on behalf of Tenant or without limitation Xxxxxx's signature, at Landlord's option. In case of default in the right payment of any installment of rents or any other sums required to be paid by Tenant when the same become due, which default continues for a period of ten (10) days after written notice from Landlord to Tenant, Landlord may take possession of all or any parts of such property and sell or cause the property described in this paragraph same to be sold at public or private sale, with or without notice, to the highest bidder for cash, and apply the proceeds of said sale upon ten (10) days' notice to Tenant, which notice Tenant hereby agrees is adequate toward the costs thereof and reasonablethen toward the debt and/or damages as aforesaid. Tenant hereby agrees to execute such other instruments necessary or desirable in LandlordXxxxxxxx's discretion to perfect exercise of the security interest hereby created. Any statutory lien herein created shall cause Landlord's interest in said property to be senior to Xxxxxx's interest therein 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 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 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 proposes of any other lien upon any of the property described in this Article without the prior written consent of Landlordreplevin action brought against Landlord by Xxxxxx.
Appears in 2 contracts
Samples: Commercial Lease (Healthcore Medical Solutions Inc), Commercial Lease (Healthcore Medical Solutions Inc)
LANDLORD'S LIEN. In addition to any statutory lien for rent in Landlord's ’s favor, subject to the lien of Tenant’s lender at the time, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlord, an express contract lien and Landlord a continuing security interest to secure the payment for all rentals and other sums of all Rent money become due hereunder from Tenant, upon all goods, wares, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper and other personal property of Tenant (and any transferees or other occupants of the Premises) presently now or hereafter situated on at the Premises Premises, and upon such property shall not be removed therefrom without the consent of Landlord until all proceeds arrearages in rent as well as any and all other sums of any insurance which may accrue money then due to Tenant by reason of damage or destruction of any such propertyLandlord 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 location. Upon a default under this Lease, Landlord shall have, hereunder by Tenant in addition to any all other remedies provided herein or by law, rights and remedies. Landlord shall have all rights and remedies under the Uniform Commercial Code of the state in which the Premises is locatedincluding, including without limitation limitation, the right to sell the property described in this paragraph Paragraph at public or private sale upon ten five (105) days' days notice by Landlord. Subject to consent by Tenant’s lender, which notice Tenant hereby agrees is adequate and reasonable. Tenant hereby agrees to execute such other instruments instruments, necessary or desirable in Landlord's discretion under applicable law 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. created Landlord and Tenant agree that this Lease and the security interest granted herein serve agreement serves as a financing statementstatement and that a copy, and a copy or photographic or other reproduction of this Paragraph portion of this Lease may be filed of record by Landlord and have the same force and effect as the original. Tenant warrants This security agreement and represents that financing statement also covers fixtures located al the collateral 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 security interest granted herein real estate records. The record owner of this property is not purchased or used by Tenant for personalAMB Partners II Local, family or household purposes. Tenant further warrants and represents L.P. Landlord agrees to execute that certain Landlord’s Agreement, in a form acceptable 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 Tenant’s lender, which may affect Landlord’s rights under this Article without the prior written consent of Landlordprovision.
Appears in 2 contracts
Samples: Lease Agreement, Commercial Lease Agreement (Power Solutions International, Inc.)
LANDLORD'S LIEN. In addition to any statutory landlord’s lien for rent now in Landlord's favoreffect or hereafter enacted, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlord, an express contract lien and to secure performance of Tenant’s obligations hereunder, a continuing security interest to secure in all of Tenant’s property situated in or upon, or used in connection with, the payment Premises or the Project, and all proceeds 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 Landlord until all Rent due hereunder from Tenant, upon obligations of Tenant have been fully performed. Such personalty thus encumbered includes specifically all goods, warestrade and other fixtures for the purpose of this Section 20 and inventory, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper accounts receivable and other personal property the proceeds thereof. Upon the occurrence of Tenant (and any transferees or other occupants an Event of the Premises) presently or hereafter situated on the Premises and upon all proceeds of any insurance which may accrue to Tenant by reason of damage or destruction of any such property. In the event of a default under this LeaseDefault, Landlord shall havemay, in addition to any all other remedies remedies, without notice or demand except as provided herein or by lawbelow, all exercise the rights and remedies 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 financing statement or other instrument necessary at Tenant’s expense at the state and county Uniform Commercial Code filing offices. 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 under this Section 20, which power is located, including without limitation coupled with an interest and is irrevocable during the right Term. Landlord may also file a copy of this Lease as a financing statement to sell perfect its security interest in the property described in this paragraph at public or private sale upon Collateral. Within ten (10) days' notice days following written request therefor, Tenant shall execute financing statements to Tenant, which notice Tenant hereby 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 supplementary thereto. Landlord and Tenant agree that this Lease and the 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 the perfect Landlord’s security interest granted herein is not purchased in the Collateral. The landlord’s lien shall survive the expiration 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 earlier termination of the property described in this Article without the prior written consent Lease, until all obligations of LandlordTenant have been fully performed.
Appears in 2 contracts
Samples: Office Lease Agreement (Markit Ltd.), Office Lease Agreement
LANDLORD'S LIEN. In addition to any the statutory lien for rent in Landlord's favor’s lien, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlordat all times, an express contract lien and a continuing valid security interest to secure the payment of all Rent rentals 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 goods, wares, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper improvements and other personal property of Tenant (and any transferees or other occupants of the Premises) presently or which may hereafter be situated on the Premises and upon all proceeds therefrom, and such property shall not be removed therefrom without the consent of Landlord until all arrearages in rent, as well as any insurance which may accrue and all other sums of money then due or to Tenant become due to Landlord hereunder, shall first have been paid and discharged and all the covenants, agreements and conditions hereof have been fully complied with and performed by reason Tenant. Upon the occurrence of damage or destruction an Event of any such property. In the event of a default under this LeaseDefault, Landlord shall havemay, in addition to any other remedies provided herein 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 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 sales 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 32 of this Lease at least five (5) days before the time of sale. The proceeds from any such disposition, less any and all rights expenses connected with the taking of possession, holding and remedies under 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 40. Any surplus shall be paid to Tenant or as otherwise required by law; and the Tenant shall pay any deficiencies forthwith. This Lease is intended as and constitutes a security agreement within the meaning of the Uniform Commercial Code of the state State of Texas, and Landlord, in which addition to the Premises is located, including without limitation the right to sell the property described rights prescribed in this paragraph at public or private sale upon ten (10) days' notice Lease, shall have all of the rights, titles, liens and interests in and to Tenant’s property now or hereafter located upon the leased Premises which are granted a secured party, which notice as that term is defined under the Uniform Commercial Code, to secure to Landlord payment of all sums due under and the full performance of all Tenant’s covenants under this Lease. Upon request by Landlord, Tenant hereby agrees is adequate and reasonable. Tenant hereby agrees to execute such other instruments necessary or desirable and deliver to Landlord a financing statement in Landlord's discretion form sufficient to perfect the security interest hereby createdof Landlord in the aforementioned property and proceeds thereof under the provisions of the Uniform Commercial Code in force in the State of Texas. Any The statutory lien for rent is not hereby waived, the express contractual lien security interest herein granted being in addition and supplementary thereto. Landlord and Tenant agree that this Lease and the 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 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 Article without the prior written consent of Landlord.
Appears in 2 contracts
Samples: Office Building Lease, Office Building Lease (E2open Inc)
LANDLORD'S LIEN. In addition to any statutory lien for rent in Landlord's favorlandlord’s lien, Landlord (the secured party for purposes hereof) shall have and now or hereafter enacted, Tenant (the debtor for purposes hereof) hereby grants to Landlord, an express contract lien and to secure performance of Tenant’s obligations hereunder, a continuing security interest to secure in all of Tenant’s property situated in or upon, or used in connection with, the payment Premises or the Project, and all proceeds 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 Landlord until all Rent due hereunder from Tenant, upon obligations of Tenant have been fully performed. Such personalty thus encumbered includes specifically all goods, warestrade and other fixtures for the purpose of this Section 20 and inventory, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper accounts receivable and other personal property the proceeds thereof. Upon the occurrence of Tenant (and any transferees or other occupants an Event of the Premises) presently or hereafter situated on the Premises and upon all proceeds of any insurance which may accrue to Tenant by reason of damage or destruction of any such property. In the event of a default under this LeaseDefault, Landlord shall havemay, in addition to any all other remedies remedies, without notice or demand except as provided herein or by lawbelow, all exercise the rights and remedies 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 financing statement or other instrument necessary at Tenant’s expense at the state and county Uniform Commercial Code filing offices. 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 under this Section 20, which power is located, including without limitation coupled with an interest and is irrevocable during the right Term. Landlord may also file a copy of this Lease as a financing statement to sell perfect its security interest in the property described in this paragraph at public or private sale upon Collateral. Within ten (10) days' notice days following written request therefor, Tenant shall execute financing statements to Tenant, which notice Tenant hereby 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 supplementary thereto. Landlord and Tenant agree that this Lease and the 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 the perfect Landlord’s 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 in 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 Article without the prior written consent of LandlordCollateral.
Appears in 1 contract
Samples: Lease Agreement
LANDLORD'S LIEN. In addition to any statutory lien for rent Against Tenant's Equipment. Landlord hereby agrees that should Tenant default in Landlord's favor, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlord, an express contract lien and a continuing security interest to secure the payment of all Rent due hereunder from Tenant, upon all goods, wares, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper and other personal property of Tenant (and any transferees or other occupants of the Premises) presently or hereafter situated on the Premises and upon all proceeds performance of any insurance which may accrue to Tenant by reason of damage or destruction of any such property. In the event of a default under this Leaseits obligations hereunder, Landlord shall have, in addition to any other remedies provided herein or by law, all rights and remedies under the Uniform Commercial Code of the state in which the Premises 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. 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 supplementary thereto. Landlord and Tenant agree that this Lease and the 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 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 it will not allow the placing of any other lien upon assert against any of the property described Equipment, any statutory, contractual, possessory, or other liens, including, without limitation, rights of levy or distraint for rent, it may have or assert under this Lease until Landlord has first given Lender (a) written notice of the default under the Lease or other event creating such lien and (b) 60 days to either cure or cause Tenant to cure such default or other event or remove the Equipment from the Real Property. If Lender has not cured such default or other event by the end of such 60-day period, Lender's security interest the Equipment shall be deemed to be subordinate to any of Landlord's statutory, contractual, possessory or other liens; provided that Lender/shall have no obligation to cure or cause such default to be cured. Nothing provided herein shall waive or be deemed a waiver any rights Landlord may have to make a claim against Tenant for amounts due and owing by Tenant to Landlord. If, after any default by Tenant under its obligations to Lender and the passage of any applicable cure period without Tenant curing such default, Lender undertakes to enforce its remedies against the Equipment, Landlord will, in good faith, cooperate with Lender in its efforts to promptly assemble and remove all of the Equipment located on the Real Property within the time period specified in this Article without the prior written consent of Landlordparagraph; provided that Lender shall repair any damage to Tenant's Building caused by such removal.
Appears in 1 contract
LANDLORD'S LIEN. In addition to any statutory lien for rent in Landlord's favorgranted by applicable law, Landlord (the secured party for purposes hereof) shall have a lien upon, and Tenant (the debtor for purposes hereof) hereby grants to Landlord, an express contract lien and Landlord a continuing security interest to secure in, all personal property of Tenant now or hereafter located in the Premises as security for the payment of all Rent due hereunder rent and the performance of all other obligations of Tenant required by this Lease. In order to perfect and enforce said lien and security interest, Xxxxxx agrees to execute all required financing statements whenever requested by Xxxxxxxx. After an Event of Default by Tenant hereunder, Tenant may not remove any personal property from the Premises, and, without further notice to Tenant, upon all goods, wares, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper and other personal property of Tenant (and any transferees or other occupants of the Premises) presently or hereafter situated on Landlord may enter the Premises and upon all proceeds seize and take possession of any insurance and all personal property which may accrue be found in and upon the Premises. If Xxxxxx fails to Tenant redeem the personal property so seized by reason payment of damage or destruction all sums due Landlord under and by virtue of any such property. In the event of a default under this Lease, Landlord shall havehave the right, in addition after ten (10) days’ written notice to any other remedies provided herein or by lawXxxxxx, all rights and remedies under the Uniform Commercial Code of the state in which the Premises is located, including without limitation the right to sell the such personal property described in this paragraph so seized at public or private sale and upon ten (10) days' notice such terms and conditions as may appear advantageous to Landlord, and Xxxxxx agrees to indemnify and hold landlord harmless against any claim to any such personal property by any third party. Landlord may be the purchaser at any such sale. After the payment of all proper charges incident to such sale, the proceeds thereof shall be applied to the payment of any and all sums due to Landlord pursuant to this Lease. In the event there shall be any surplus remaining after the payment of any sums due to Landlord, such surplus shall be paid over to Tenant, which notice Tenant hereby 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 supplementary thereto. Landlord and Tenant agree that this Lease and the 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 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 Article without the prior written consent of Landlord.
Appears in 1 contract
Samples: Lease Agreement
LANDLORD'S LIEN. In addition Subject to any statutory lien for rent in Landlord's favorSection 21.2, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlord, an express contract lien and a continuing security interest to secure the payment by Tenant of all Rent due hereunder from TenantBase Rent, upon Additional Rent, and all goods, wares, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper other payments to be made by Tenant under this Lease and the performance by Tenant of all its other personal property of Tenant (duties and any transferees or other occupants of the Premises) presently or hereafter situated on the Premises and upon all proceeds of any insurance which may accrue to Tenant by reason of damage or destruction of any such property. In the event of a default obligations under this Lease, a first priority lien and security interest in all equipment, trade fixtures, goods and other tangible personal property now or hereafter owned by Tenant and located on the Leased Premises, and all substitutions, replacements, additions and accessions thereto and proceeds thereof. No such property shall be removed from the Leased Premises until all Base Rent, Additional Rent and other amounts payable under this Lease have been paid and until Tenant has fully and completely performed all of the other duties and obligations of Tenant under this Lease. Upon the occurrence of any Event of Default hereunder, Landlord shall have, in addition to any all other rights and remedies provided for herein or allowed by lawlaw or in equity, all rights and remedies of a secured party under the Uniform Commercial Code of the state in which the Premises is locatedCode, including without limitation the right to sell any or all of the property described in this paragraph above at one or more public or private sale sales upon providing the notice required by the Uniform Commercial Code. Tenant agrees that ten (10) days' prior notice to Tenant, which notice Tenant hereby agrees is adequate and reasonableof any such sale will constitute commercially reasonable notice. Tenant hereby agrees to shall, at the request of Landlord, execute and deliver such other instruments necessary or desirable in Landlord's discretion additional documents as may be reasonably required, including Uniform Commercial Code financing statements, to perfect the lien and security interest hereby createdgranted by Tenant to Landlord herein. Any statutory lien for rent is not hereby waived, the express contractual lien and security interest herein granted being in addition and supplementary thereto. Landlord and Tenant agree that this Lease and the 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 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 Article without the prior written consent of Landlord.
Appears in 1 contract
Samples: Standard Office Lease Agreement (Net2000 Communications Inc)
LANDLORD'S LIEN. In addition to any the statutory lien for rent in Landlordlandlord's favorlien, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlordhave, an express contract lien and at all times, a continuing valid security interest to secure the payment payments of all Rent rent, additional 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 goods, wares, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper improvements and other personal property of Tenant (and any transferees or other occupants of the Premises) presently or which may hereafter be situated on in the Premises Property, but not upon inventory held for sale by Tenant in the course of its business, and upon all proceeds therefrom, and such property shall not be removed therefrom without the consent of Landlord until all arrearages in rent as well as any insurance which may accrue and all other sums of money then due to Tenant Landlord hereunder shall first have been paid and discharged and all the covenants, agreements and conditions hereof have been fully complied with and performed by reason Tenant. Upon the occurrence of damage or destruction of any such property. In the an event of a default under this Leaseby Tenant, Landlord shall havemay, in addition to any other remedies provided herein or by lawherein, enter upon the Property and take possession of any and all rights goods, wares, equipment, fixtures, furniture, Landlord waives any statutory liens for rent, and remedies under the Uniform Commercial Code of the state in which the Premises is locatedany lien created hereunder, including without limitation the right as to sell the property described in this paragraph at public or private sale upon Tenant's inventory and agrees to provide written waivers within ten (10) days' notice to days of written demand by Tenant. Further, which notice Tenant hereby agrees is adequate and reasonable. Tenant hereby Landlord agrees to execute such other instruments necessary subordinate all aforesaid liens in favor of any purchase money financing obtained by Tenant to acquire personal property and/or fixtures of any kind which are acquired for use at or desirable in Landlord's discretion to perfect on 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 theretoProperty. Landlord and Tenant agree that this Lease and the 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 will provide written subordination agreements 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 granted herein constitutes a first and superior lien and that Tenant will not allow the placing such financing within ten (10) days of any other lien upon any of the property described in this Article without the prior written consent of Landlorddemand by Tenant.
Appears in 1 contract
Samples: Guaranty of Performance of Commercial Lease Agreement (Level Best Golf Inc /Fl/)
LANDLORD'S LIEN. In addition to any statutory lien for rent in Landlord's favor, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlord, an express contract lien and a continuing security interest to To secure the payment of all Rent due hereunder from Tenant, upon all goods, wares, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper and other personal property of Tenant (and any transferees or other occupants of the Premises) presently or hereafter situated on the Premises and upon all proceeds of any insurance which may accrue to Tenant by reason of damage or destruction of any such property. In the event of a default ’s obligations under this Lease, Tenant grants Landlord a contractual security interest on all of Tenant’s inventory, goods, consumer goods and equipment now or hereafter situated in the Premises and all proceeds therefrom, including insurance proceeds (collectively, “Collateral”). No Collateral shall havebe removed from the Premises without Landlord’s prior written consent until all of Tenant’s obligations are fully satisfied (except in the ordinary course of business and 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 remedies provided herein or by lawherein, all rights and remedies under the Uniform Commercial Code of the state in which enter upon the Premises is locatedand take possession of any Collateral without being held liable for trespass or conversion, including without limitation the right to and sell the property described in this paragraph same at public or private sale upon sale, after giving Tenant at least ten (10) days' 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 other expenses, shall be credited against Tenant, which notice ’s obligations. Any surplus shall be paid to Tenant hereby agrees is adequate (or as otherwise required by Law) and reasonableany deficiency shall be paid by Tenant to Landlord upon demand. Tenant hereby agrees authorizes Landlord to execute such other instruments necessary or desirable in Landlord's discretion file a financing statement sufficient to perfect the foregoing security interest hereby created. Any statutory lien for rent is not hereby waivedinterest, the express contractual lien herein granted being in addition and supplementary thereto. Landlord and Tenant agree that or to file a copy of this Lease and the 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 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 Article without the prior written consent of Landlordpermitted under Law.
Appears in 1 contract
LANDLORD'S LIEN. In addition to any statutory Landlord shall have at all items a valid lien for rent in Landlord's favor, Landlord (the secured party for purposes hereof) shall have all rentals and Tenant (the debtor for purposes hereof) hereby grants to Landlord, an express contract lien and a continuing security interest to secure the payment other sums of all Rent money becoming due hereunder from Tenant, upon all goods, wares, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper furniture and other personal property of Tenant (and any transferees situated in or other occupants of about the Premises) presently or hereafter situated on , and such property shall not be removed there from without the Premises consent of Landlord until all arrearages in rent as well as any and upon all proceeds other sums of money then due to Landlord hereunder shall first have been paid and discharged. Upon the occurrence of any insurance which may accrue to Tenant Event of Default by reason of damage or destruction of any such property. In the event of a default under this LeaseTenant, Landlord shall havemay, in addition to any other remedies provided herein or by lawlaw or equity, all rights and remedies under the Uniform Commercial Code of the state in which enter upon the Premises is locatedand take possession of any and all goods, including wares, equipment, fixtures, furniture and other personal property of Tenant situated on the Premises without limitation the right to liability for trespass or conversion, and sell the property described in this paragraph same with or without notice at public or private sale, with or without having such property at the sale, at which Landlord or its assigns may purchase, and apply the proceeds thereof less any and all expenses connected with the taking of possession and sale upon ten (10) days' notice of the property, as a credit against any sums due by Tenant to Landlord. Any surplus shall be paid to Tenant, which notice and Tenant hereby agrees is adequate and reasonable. Tenant hereby agrees to execute such pay any deficiency forthwith. Alternatively, the lien hereby granted may be foreclosed in the manner and form provided by law for foreclosure of security interests or in any other instruments necessary or desirable in Landlord's discretion to perfect the security interest hereby createdform provided by law. Any statutory lien for rent is not hereby waivedwaived hereby, but rather, the express contractual lien herein granted being is in addition and supplementary thereto. Landlord Tenant will execute upon Landlord’s request a financing statement and Tenant agree that this Lease and the security agreement evidencing Landlord’s security interest granted herein serve as a financing statement, in Tenant’s personal property 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 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 Article without the there are no prior written consent of Landlordliens or security interests on said personal properties.
Appears in 1 contract
Samples: Lease Agreement
LANDLORD'S LIEN. In addition to any statutory lien for rent Rent in Landlord's ’s favor, Landlord (the secured party for purposes hereof) shall have have, and Tenant (the debtor for purposes hereof) hereby grants to Landlord, an express contract lien and a continuing security interest to secure the payment of for all Rent due hereunder from TenantRent, upon all goods, wares, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper and other personal property of Tenant (and any transferees or other occupants of the Premises) presently now or hereafter situated on at or upon the Premises Premises, and upon such property shall not be removed therefrom without the consent of Landlord until all proceeds arrearages in Rent as well as any and all other sums of any insurance which may accrue money then due to Tenant by reason of damage or destruction of any such propertyLandlord hereunder shall first have been paid and discharged. In the event any of a default under this Leasethe foregoing described property is removed from the Premises in violation of the covenant in the preceding sentence, Landlord the security interest shall havecontinue in such property and all proceeds and products, regardless of location. Upon an Event of Default hereunder by Tenant and after reasonable notice thereof to Tenant by Landlord, in addition to any all other remedies provided herein or by lawrights and remedies, Landlord shall have all rights and remedies under the Uniform Commercial Code of the state in which the Premises is locatedCode, including without limitation limitation, the right to sell the property described in this paragraph Paragraph at public or private sale upon ten fifteen (1015) days' days notice to Tenant, which notice Tenant hereby agrees is adequate and reasonableby Landlord. Tenant hereby agrees to execute such other instruments instruments, necessary or desirable in Landlord's discretion under applicable law 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 and the security interest granted herein serve agreement serves as a financing statementstatement and that a copy, and a copy or photographic or other reproduction of this Paragraph portion of this Lease may be filed of record by by. Landlord and have the same force and effect as the original. Tenant warrants This security agreement and represents that financing statement also covers fixtures located at the collateral premises subject to this Lease and legally described in Exhibit A attached hereto and is to be filed for record in the security interest granted herein is not purchased or used by Tenant for personal, family or household purposesreal estate records. 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 The record owner of the real property described in this Article without the prior written consent of is Landlord.
Appears in 1 contract
LANDLORD'S LIEN. In addition to any statutory lien for rent in LandlordTo secure Tenant's favor, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlord, an express contract lien and a continuing security interest to secure the payment of all Rent due hereunder from Tenant, upon all goods, wares, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper and other personal property of Tenant (and any transferees or other occupants of the Premises) presently or hereafter situated on the Premises and upon all proceeds of any insurance which may accrue to Tenant by reason of damage or destruction of any such property. In the event of a default obligations under this Lease, 'Tenant grants Landlord a contractual security interest on all of Tenant's FF&E now or hereafter situated in the Premises and all proceeds therefrom, including insurance proceeds (collectively, "Collateral"). No Collateral shall havebe removed from the Premises without Landlord's prior written consent until all of Tenant's obligations are fully satisfied (except in the ordinary course of business and then only if replaced with items of same value and quality). Upon any Event of Default, Landlord may, to the fullest extent permitted by Applicable Law and in addition to any other remedies provided herein or by lawherein, all rights and remedies under the Uniform Commercial Code of the state in which enter upon the Premises is locatedand take possession of any Collateral without being held liable for trespass or conversion, including without limitation the right to and sell the property described in this paragraph same at public or private sale upon ten sale, after giving Tenant at least 5 days written notice (10or more if required by Applicable Law) days' of the time and place of such sale. Such notice to Tenantmay be sent with or without return receipt requested. Unless prohibited by Applicable Law, which notice Tenant hereby agrees is adequate and reasonableany Landlord Party may purchase any Collateral at such sale. Tenant hereby agrees to execute The proceeds from such other instruments necessary or desirable in sale, less Landlord's discretion expenses, including reasonable attorneys' fees and other expenses, shall be credited against Tenant's obligations. Any surplus shall be paid to Tenant (or as otherwise required by Applicable Law) and any deficiency shall be paid by Tenant to Landlord upon demand. Upon request, Tenant shall execute and deliver to Landlord a financing statement sufficient to perfect the foregoing 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. or Landlord and Tenant agree that may file a copy of this Lease and the 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 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 Article without the prior written consent of Landlordpermitted under Applicable Law.
Appears in 1 contract
Samples: Office Lease (Infonow Corp /)
LANDLORD'S LIEN. In addition to any the statutory lien for rent in Landlord's favorlandlord’s lien, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlordhave, an express contract lien and at all times, a continuing valid security interest to secure the payment payments of all Rent rent, additional rent and other sums of money becoming due hereunder from TenantTenant 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 goods, wares, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper improvements and other personal property of Tenant (and any transferees or other occupants of the Premises) presently or which may hereafter be situated on in the Premises Property and upon all proceeds therefrom, and such property shall not be removed therefrom without the consent of Landlord until all arrearages in rent, as well as any insurance which may accrue and all other sums of money then due to Tenant Landlord hereunder, shall first have been paid and discharged and all the covenants, agreements and conditions hereof have been fully complied with and performed by reason Tenant. Upon the occurrence of damage or destruction of any such property. In the an event of a default under this Leaseby Tenant, Landlord shall havemay, in addition to any other remedies provided herein herein, enter upon the Property and take possession of any and all goods, wares, equipment, fixtures, furniture, improvements, and other personal property of Tenant situated in the Property, without liability for trespass or by lawconversion, all rights and remedies under the Uniform Commercial Code of the state in which the Premises is located, including without limitation the right to sell the property described in this paragraph 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 upon ten 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 (105) days' notice 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 17. Any surplus shall be paid to TenantTenant or as otherwise required by law; and Tenant shall pay any deficiencies forthwith. Upon request of the Landlord, which notice Tenant hereby agrees is adequate and reasonable. Tenant hereby agrees to execute such other instruments necessary or desirable and deliver to Tenant a financing statement in Landlord's discretion form sufficient to perfect the security interest hereby createdof Landlord in the aforementioned property and proceeds thereof under the provisions of the Uniform Commercial Code in force in the State of Florida. Any The statutory lien for rent is not hereby waived, the express contractual lien security interest herein granted being in addition and supplementary thereto. Landlord and Tenant agree that this Lease and the 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 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 Article without the prior written consent of Landlord.
Appears in 1 contract
Samples: Commercial Lease (Drugmax Inc)
LANDLORD'S LIEN. In Subject to any applicable state and federal laws, in addition to any the statutory lien for rent in Landlord's favorlien, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlordhave, an express contract lien and at all times, a continuing valid security interest to secure the payment of all Rent rentals 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 captained herein, upon al goods, wares, equipment, fixtures, furniture, improvements, and other personal property of Tenant present of which may hereinafter be situated on the Premises, and all proceeds therefrom, and such property shall not be removed therefrom, with the consent of Landlord until all arrearages in rent as well as any and all other sums of money due to Landlord hereunder shall first have been paid and discharged and all the covenant agreement, and conditions hereof have been fully complied with and performed by Tenant. 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, inventoryimprovements, accounts, contract rights, chattel paper and other personal property of Tenant (and any transferees or other occupants of the Premises) presently or hereafter situated on the Premises Premises, without liability for trespass or conversion, and upon all proceeds of any insurance which may accrue to Tenant by reason of damage or destruction of any such property. 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 remedies under the Uniform Commercial Code of the state in which the Premises is located, including without limitation the right to sell the property described in this paragraph same at public or private sale, after giving Tenant reasonable notice of the time and place of any public sale upon ten 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 at least five (105) days' notice 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 TenantTenant or as otherwise required by law; and the Tenant shall pay any deficiencies forthwith. Upon request by Landlord, which notice Tenant hereby agrees is adequate and reasonable. Tenant hereby agrees to execute such other instruments necessary or desirable and delivery to Landlord a financing statement in Landlord's discretion 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 createdappoint Landlord its attorney-in-fact to execute in Tenants name and in its place and stead any instrument necessary to effectuate the terms of this Landlord's Lien including any Financing Statement in connection therewith. Any The statutory lien for rent is not hereby waived, the express contractual lien security interest herein granted being in addition and supplementary thereto. Landlord and Tenant agree that this Lease and the 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 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 Article without the prior written consent of Landlord.
Appears in 1 contract
LANDLORD'S LIEN. In addition to any statutory lien for rent in Landlord's favor, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlord, an express contract lien and a continuing security interest to To secure the payment of all Rent due hereunder from Tenant, upon all goods, wares, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper and other personal property of Tenant (and any transferees or other occupants of the Premises) presently or hereafter situated on the Premises and upon all proceeds of any insurance which may accrue to Tenant by reason of damage or destruction of any such property. In the event of a default ’s obligations under this Lease, Tenant grants Landlord a contractual security interest on all of Tenant’s furniture, fixtures and equipment now or hereafter situated in the Premises and all proceeds therefrom, including insurance proceeds (collectively, “Collateral”). No Collateral shall havebe removed from the Premises without Landlord’s prior written consent until all of Tenant’s obligations are fully satisfied (except in the ordinary course of business and 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 remedies provided herein or by lawherein, all rights and remedies under the Uniform Commercial Code of the state in which enter upon the Premises is locatedand take possession of any Collateral without being held liable for trespass or conversion, including without limitation the right to and sell the property described in this paragraph same at public or private sale sale, after giving Tenant at least 5 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. The proceeds from such sale, less Landlord’s expenses, including reasonable attorneys’ fees and other expenses, shall be credited against Tenant’s obligations. Any surplus shall be paid to Tenant (or as otherwise required by Law) and any deficiency shall be paid by Tenant to Landlord upon ten (10) days' notice demand. Upon request, Tenant shall execute and deliver to Tenant, which notice Tenant hereby agrees is adequate and reasonable. Tenant hereby agrees to execute such other instruments necessary or desirable in Landlord's discretion Landlord a financing statement sufficient to perfect the foregoing security interest hereby created. Any statutory lien for rent is not hereby waivedinterest, the express contractual lien herein granted being in addition and supplementary thereto. or Landlord and Tenant agree that may file a copy of this Lease and the 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 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 Article without the prior written consent of Landlord.permitted under Law.43
Appears in 1 contract
Samples: Office Lease (Gainsco Inc)
LANDLORD'S LIEN. In addition to any statutory lien As further security for rent in LandlordTenant's favor, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlord, an express contract lien and a continuing security interest to secure the payment of all Rent due hereunder from Tenant, upon all goods, wares, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper and other personal property of Tenant (and any transferees or other occupants of the Premises) presently or hereafter situated on the Premises and upon all proceeds of any insurance which may accrue to Tenant by reason of damage or destruction of any such property. In the event of a default performance under this Lease, Tenant hereby grants Landlord a lien and security interest in all existing and after acquired property and assets of Tenant, including property and assets placed in or relating to Tenant's business at the Premises, including but not limited to, accounts receivable, insurance proceeds, good will, contracts, intangibles, fixtures, equipment, inventory, furnishings and personal property, and all proceeds thereof, and all rents and other consideration from any Transfer. Notwithstanding the foregoing, Tenant may freely use, replace and dispose of such property (provided Tenant immediately replaces the same with similar property of comparable or better quality), and may receive such rents and consideration, in the ordinary course of Tenant's business, until such time as Tenant shall commit a Default; upon such Default, Xxxxxx's right to remove or use such property shall terminate, and all other parties shall be entitled to rely on written notification thereof given by Landlord without requiring any proof of such Default or any other matter. Tenant agrees to execute such financing statements, collateral assignment of rents and subleases, and other documents necessary to perfect such security interest, as Landlord may now or hereafter reasonably request in recordable form. Landlord may at its election at any time execute such a financing statement and collateral assignment as Xxxxxx's agent and attorney-in-fact or file a copy of this Lease as such financing statement and collateral assignment. Landlord shall have, in addition be entitled hereunder to any other remedies provided herein or by law, all of the rights and remedies afforded a secured party under the Uniform Commercial Code of the state in which the Premises 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. 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 applicable Law in addition and supplementary thereto. Landlord and Tenant agree that this Lease and the 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 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 any landlord's 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 Landlordrights provided by applicable Law.
Appears in 1 contract
Samples: Lease Agreement
LANDLORD'S LIEN. In addition to any statutory lien for rent in Landlord's favor, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlord, an express contract lien and a continuing security interest order to secure the payment of all Rent rent becoming due hereunder from Tenant, and to secure payment of any damages or loss that Landlord may suffer by reason of the breach of Tenant of any covenant, or condition contained herein, Tenant hereby grants Landlord a security interest upon all goods, wares, equipment, fixtures, furniture, inventoryimprovements, accounts, contract rights, chattel paper and other personal property of Tenant (and any transferees or other occupants of the Premises) presently or hereafter situated on in the Premises (the "Collateral"), and upon all proceeds from the sale or lease thereof, and such property shall not be removed from the Premises without the consent of any insurance which may accrue to Landlord except in the ordinary course of business, until Tenant by reason of damage or destruction of any such propertyhas paid all arrearages in rent hereunder and complied with all the agreements and conditions hereof. In the event of a default under this Leaseby Tenant (as defined in Article 26), Landlord shall havemay, in addition to any all other remedies provided herein in Article 26 or by law, enter upon the Premises and take possession of any and all rights of the Collateral and remedies under sell the Collateral pursuant to the Uniform Commercial Code provisions of the state in which the Premises is located, including without limitation the right State of Tennessee. Commercially reasonable notice shall be deemed to sell the property described in this paragraph be at public or private sale upon least ten (10) days' notice prior to any foreclosure sale of the Collateral. The proceeds from any disposition pursuant to this Section, less all expenses connected with the taking of possession and foreclosure, including reasonable attorneys' fees and legal expenses, shall be applied as a credit against Tenant's indebtedness to Landlord. Any surplus shall be paid to Tenant or as otherwise required by law. Upon the request of Landlord, which notice Tenant hereby agrees is adequate shall execute and reasonable. Tenant hereby agrees deliver to execute such other instruments necessary or desirable Landlord appropriate financing statements in Landlord's discretion form sufficient 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 and the 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 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 Article without the prior written consent of Landlordherein.
Appears in 1 contract
LANDLORD'S LIEN. In addition to any applicable statutory lien for rent in Landlordlandlord's favorlien, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlord, an express contract lien and to secure performance of Tenant's obligations hereunder, a continuing security interest to secure the payment of in all Rent due hereunder from Tenant, upon all goods, wares, equipmentgoods (including equipment and inventory), fixtures, furniture, inventory, accounts, contract rights, chattel paper and other personal property of Tenant (and any transferees or other occupants of the Premises) presently or hereafter situated on the Premises Premises, and upon all proceeds of any insurance which may accrue to Tenant by reason of damage or destruction of any such property. In thereof (the event of a default under this Lease"Collateral"), Landlord and the Collateral shall have, in addition to any other remedies provided herein or by law, all rights and remedies under the Uniform Commercial Code of the state in which not be removed from the Premises 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. 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 supplementary thereto. Landlord and Tenant agree that this Lease and the 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 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 Article without the prior written consent of Landlord (other than in Tenant's ordinary course of business) until all obligations of Tenant have been fully performed. 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 Pennsylvania Uniform Commercial Code (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. If Tenant fails to execute such financing statement(s) within 15 days following Landlord's written request therefor, Landlord may execute such financing statement(s) as Tenant's attorney-in-fact. In furtherance of the foregoing, 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 under this Section 19, which power is coupled with an interest and is irrevocable during the Term. Landlord may also file a copy of this Lease as a financing statement to perfect its security interest in the Collateral. Landlord hereby subordinates its statutory lien, as well as the security interest granted to it under this Section 19, to all "purchase money security interests" (as such term is defined in the UCC) in the Collateral as well as to any bank, insurance company or other third party financial institution providing a secured line of credit to Tenant, and Landlord shall, at Tenant's expense, execute such documentation (on Landlord's forms) to evidence such subordination as the owner of any such purchase money security interest or credit provider, as applicable, may reasonably request. Following the expiration of the Term and provided that Tenant has performed all of its obligations hereunder, Landlord shall, within 15 days following Tenant's written request and at Tenant's expense, execute a UCC-3 termination statement evidencing the termination of the lien granted to Landlord under this Section 19. If Landlord fails to execute such termination statement(s) within 15 days following Tenant's written request therefor, Tenant may execute such termination statement(s) as Landlord's attorney-in-fact. In furtherance of the foregoing, Landlord grants to Tenant a power of attorney to execute and file such termination statement(s) necessary to terminate Landlord's security interests on the terms and conditions of this Section 19, which power is coupled with an interest and is irrevocable during the Term.
Appears in 1 contract
LANDLORD'S LIEN. In addition to any statutory lien for rent in Landlordlandlord's favorlien, Landlord (the secured party for purposes hereof) shall have and now or hereafter enacted, Tenant (the debtor for purposes hereof) hereby grants to Landlord, an express contract lien and to secure performance of Tenant's obligations hereunder, a continuing security interest to secure in all of Tenant's property situated in or upon, or used in connection with, the payment Premises or the Project, and all proceeds 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 Landlord until all Rent due hereunder from Tenant, upon obligations of Tenant have been fully performed. Such personalty thus encumbered includes specifically all goods, warestrade and other fixtures for the purpose of this Section 20 and inventory, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper accounts receivable and other personal property the proceeds thereof. Upon the occurrence of Tenant (and any transferees or other occupants an Event of the Premises) presently or hereafter situated on the Premises and upon all proceeds of any insurance which may accrue to Tenant by reason of damage or destruction of any such property. In the event of a default under this LeaseDefault, Landlord shall havemay, in addition to any all other remedies remedies, without notice or demand except as provided herein or by lawbelow, all exercise the rights and remedies afforded to a secured party under the Uniform Commercial Code of the state in which the Premises is locatedare 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, including without limitation the right to sell the property described in this paragraph at public or private sale upon ten (10) 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 financing statement or other instrument necessary at Tenant's expense at the state and county Uniform Commercial Code filing offices. Tenant grants to Landlord a power of attorney to execute and file any financing statement or other necessary instrument to perfect Landlord's security interest under this Section 20, which notice Tenant hereby agrees power is adequate coupled with an interest and reasonable. Tenant hereby agrees to execute such other instruments necessary or desirable in Landlord's discretion to perfect is irrevocable during 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 theretoTerm. Landlord and Tenant agree that may also file a copy of this Lease and the security interest granted herein serve as a financing statementstatement to perfect its security interest in the Collateral. Within ten days following written request therefor, and a copy or photographic or other reproduction of this Paragraph of this Lease may Tenant shall execute financing statements to 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 perfect Landlord's 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 in 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 Article without the prior written consent of LandlordCollateral.
Appears in 1 contract
LANDLORD'S LIEN. In addition to any statutory lien for rent in Landlord's favorlandlord’s lien, Landlord (the secured party for purposes hereof) shall have and now or hereafter enacted, Tenant (the debtor for purposes hereof) hereby grants to Landlord, an express contract lien and to secure performance of Tenant’s obligations hereunder, a continuing security interest to secure in all of Tenant’s property situated in or upon, or used in connection with, the payment Premises or the Project, and all proceeds 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 Landlord until all Rent due hereunder from Tenant, upon obligations of Tenant have been fully performed. Such personalty thus encumbered includes specifically all goods, warestrade and other fixtures for the purpose of this Section 20 and inventory, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper accounts receivable and other personal property the proceeds thereof. Upon the occurrence of Tenant (and any transferees or other occupants an Event of the Premises) presently or hereafter situated on the Premises and upon all proceeds of any insurance which may accrue to Tenant by reason of damage or destruction of any such property. In the event of a default under this LeaseDefault, Landlord shall havemay, in addition to any all other remedies remedies, without notice or demand except as provided herein or by lawbelow, all exercise the rights and remedies afforded to a secured party under the Uniform Commercial Code of the state in which the Premises is locatedare 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, including without limitation then five-days’ prior written notice thereof shall be reasonable notice of the right act or event. In order to sell perfect such security interest, Landlord may file any financing statement or other instrument necessary at Tenant’s expense at the property described in state and county Uniform Commercial Code filing offices. 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 under this paragraph at public or private sale upon ten (10) days' notice to TenantSection 20, which notice Tenant hereby agrees power is adequate coupled with an interest and reasonable. Tenant hereby agrees to execute such other instruments necessary or desirable in Landlord's discretion to perfect is irrevocable during 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 theretoTerm. Landlord and Tenant agree that may also file a copy of this Lease and the security interest granted herein serve as a financing statementstatement to perfect its security interest in the Collateral. Within ten days following written request therefor, and a copy or photographic or other reproduction of this Paragraph of this Lease may Tenant shall execute financing statements to 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 perfect Landlord’s 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 in 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 Article without the prior written consent of LandlordCollateral.
Appears in 1 contract
Samples: Lease Agreement (Energytec Inc)
LANDLORD'S LIEN. In addition to any the statutory lien for rent in Landlord's favor’s lien, Landlord (the secured party for purposes hereof) shall have have, at all times, and Tenant (the debtor for purposes hereof) hereby grants to Landlord, an express contract lien and a continuing valid security interest to secure the payment of all Rent rentals 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 goods, wares, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper furniture and other personal property improvements of Tenant (and any transferees or other occupants of the Premises) presently or which may hereafter be situated on the Premises Premises, and upon all proceeds therefrom, and such property shall not be removed therefrom without the consent of Landlord until all arrearages in Base Rent and Additional Rent as well as any and all other sums of money then due to Landlord hereunder shall first have been paid and discharged and all the covenants, agreements and conditions hereof have been fully complied with and performed by Tenant. Upon the occurrence of any insurance which may accrue to Tenant by reason Event of damage or destruction of any such property. In the event of a default under this LeaseDefault, Landlord shall havemay, in addition to any other remedies provided herein or by lawherein, all rights and remedies under the Uniform Commercial Code of the state in which enter upon the Premises is locatedand take possession of any and all equipment, including fixtures, furniture and improvements of Tenant situated on the Premises, without limitation the right to liability for trespass or conversion, and sell the property described in this paragraph same at public or private sale upon ten (10) days' notice sale. Any surplus shall be paid to Tenant, which notice Tenant hereby agrees is adequate or as otherwise required by law; and reasonableTenant shall pay any deficiencies therein to Landlord forthwith. Tenant hereby agrees Landlord shall have the right to execute such other instruments necessary or desirable file a financing statement in Landlord's discretion form sufficient to perfect the security interest hereby createdof Landlord in the aforementioned property and proceeds thereof under the provisions of the applicable Uniform Commercial Code. Any statutory lien for rent is not hereby waived, the express contractual lien herein granted being in addition and supplementary thereto. Tenant authorizes Landlord and Tenant agree that this Lease and to file such instruments as are necessary to perfect the security interest of Landlord 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 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 Article without the prior written consent of LandlordSection 27.
Appears in 1 contract
Samples: Lease Agreement (InterDigital, Inc.)
LANDLORD'S LIEN. In addition to any statutory lien for rent in Landlord's ’s favor, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlord, an express contract lien and Landlord a continuing security lien interest for all rentals and other sums of money due or to secure the payment of all Rent become due hereunder from Tenant, and to secure payment for 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 goods, wares, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper and other personal property of Tenant (and any transferees or other occupants of the Premises) presently now or hereafter situated on at the Premises Premises, and upon all proceeds of any insurance which may accrue to Tenant by reason of damage or destruction of any such propertytherefrom. In the event any of the foregoing described property is removed from the Premises, the security interest shall continue in such property regardless of location, unless same is replaced with property of similar kind and quality. Upon the occurrence of a default under this Leaseby Tenant hereunder, Landlord shall have, in addition to any all other remedies provided herein or by lawrights and remedies, all rights and remedies under the Uniform Commercial Code then in effect in the State of the state in which the Premises is locatedNorth Carolina, including including, without limitation limitation, the right to sell the property described in this paragraph Section at public or private sale upon ten (10) days' notice sale. Any surplus shall be paid to Tenant, which notice Tenant hereby agrees is adequate or as otherwise required by law; and reasonableTenant shall pay any deficiencies therein to Landlord forthwith. Tenant hereby agrees to execute such other instruments necessary or desirable in Landlord's discretion under applicable law 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 and the security interest granted herein serve as including a financing statement. In no event shall Tenant or Tenant’s lender cause to be recorded any financing statements, and a copy Uniform Commercial Code filings or photographic or other reproduction of this Paragraph of their equivalents in connection with 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 which would affect or otherwise impair or encumber title to the security interest granted herein is not purchased Building or used by Tenant for personal, family Landlord’s fixtures and real or household purposes. Tenant further warrants and represents to Landlord that personal property located in the lien granted herein constitutes a first and superior lien and that Tenant will not allow Building or the placing of any other lien upon any of the property described in this Article without the prior written consent of LandlordBusiness Park.
Appears in 1 contract
LANDLORD'S LIEN. In addition to any statutory landlord’s lien for rent in Landlord's favornow or hereafter enacted, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlord, an express contract lien and to secure performance of Xxxxxx’s obligations hereunder, a continuing security interest to secure in all of Tenant’s property situated in or upon, or used in connection with. the payment Premises or the Project, and all proceeds 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 Landlord until all Rent due hereunder from Tenant, upon obligations of Tenant have been fully performed. Such personalty thus encumbered includes specifically all goods, warestrade and other fixtures for the purpose of this Section 20 and inventory, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper accounts receivable and other personal property the proceeds thereof. Upon the occurrence of Tenant (and any transferees or other occupants an Event of the Premises) presently or hereafter situated on the Premises and upon all proceeds of any insurance which may accrue to Tenant by reason of damage or destruction of any such property. In the event of a default under this LeaseDefault, Landlord shall havemay, in addition to any all other remedies remedies, without notice or demand except as provided herein or by lawbelow, all exercise the rights and remedies afforded to a secured party under the Uniform Commercial Code of the state in which the Premises is locatedare 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, including without limitation then five-days’ prior written notice thereof shall be reasonable notice of the right act or event. In order to sell perfect such security interest, Landlord may file any financing statement or other instrument necessary at Tenant’s expense at the property described in state and county Uniform Commercial Code filing offices. 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 under this paragraph at public or private sale upon ten (10) days' notice to TenantSection 20, which notice Tenant hereby agrees power is adequate coupled with an interest and reasonable. Tenant hereby agrees to execute such other instruments necessary or desirable in Landlord's discretion to perfect is irrevocable during 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 theretoTerm. Landlord and Tenant agree that may also file a copy of this Lease and the security interest granted herein serve as a financing statementstatement to perfect its security interest in the Collateral. Within ten days following written request therefor, and a copy or photographic or other reproduction of this Paragraph of this Lease may Xxxxxx shall execute financing statements to be filed of record to perfect Landlord’s security interest in the Collateral. 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 have the same force and effect as the original. Tenant warrants and represents that the collateral subject deliver an agreement 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 granted herein is not purchased of Xxxxxx’s supplier or used by Tenant for personalinstitutional financial source, family or household purposes. Tenant further warrants subject to the terms and represents to Landlord that the lien granted herein constitutes a first and superior lien and that Tenant will not allow the placing provisions of any other lien upon any of the property described in this Article without the prior written consent of Landlordsuch separate agreement.
Appears in 1 contract
LANDLORD'S LIEN. In addition to any statutory lien for rent in LandlordTo secure Tenant's favor, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlord, an express contract lien and a continuing security interest to secure the payment of all Rent due hereunder from Tenant, upon all goods, wares, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper and other personal property of Tenant (and any transferees or other occupants of the Premises) presently or hereafter situated on the Premises and upon all proceeds of any insurance which may accrue to Tenant by reason of damage or destruction of any such property. In the event of a default obligations under this Lease, Tenant grants Landlord a contractual security interest on all of Tenant's owned furniture, fixtures and equipment now or hereafter situated in the Premises and all proceeds therefrom, including insurance proceeds (collective, "Collateral"). No Collateral shall havebe removed from the Premises without Landlord's prior written consent until all of Tenant's obligations are fully satisfied (except in the ordinary course of business and then only if replaced with items of same value and quality). Upon any uncured event of default (as defined in this Lease), Landlord may, to the fullest extent permitted by Law and in addition to any other remedies provided herein or by lawherein, all rights and remedies under the Uniform Commercial Code of the state in which enter upon the Premises is locatedand take possession of any Collateral without being held liable for trespass or conversion, including without limitation the right to and sell the property described in this paragraph same at public or private sale upon ten sale, after giving Tenant at least 10 days written notice (10or more if required by Law) days' of the time and place of such sale. Such notice to Tenantmay be sent with or without return receipt requested. Unless prohibited by Law, which notice Tenant hereby agrees is adequate and reasonableany Landlord Party may purchase any Collateral at such sale. Tenant hereby agrees to execute The proceeds from such other instruments necessary or desirable in sale, less Landlord's discretion expenses, including reasonable attorneys' fees and other expenses, shall be credited against Tenant's obligations. Any surplus shall be paid to Tenant (or as otherwise required by Law) and any deficiency shall be paid by Tenant to Landlord upon demand. Upon request, Tenant shall execute and deliver to Landlord a financing statement sufficient to perfect the foregoing 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. or Landlord and Tenant agree that may file a copy of this Lease and the 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 as permitted under Law. 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 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 Article without the prior written consent of Landlordretains all statutory rights.
Appears in 1 contract
Samples: Office Lease (PROS Holdings, Inc.)
LANDLORD'S LIEN. In addition to any statutory lien for rent in Landlord's favorLandlord shall have, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlordat all times, an express contract lien and a continuing valid security interest to secure the payment of all Rent, Additional 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 goods, wares, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper improvements and other personal property of Tenant (and any transferees presently or other occupants of which may hereinafter be situated in the Premises) presently or hereafter situated on the Premises , and upon all proceeds therefrom, and such property shall not be removed therefrom without the consent of Landlord until all arrearages in Rent as well as any insurance which may accrue and all other sums of money then due to Tenant Landlord hereunder shall first have been paid and discharged and all the covenants, agreements and conditions hereof have been fully compiled with and performed by reason of damage or destruction of any such propertyTenant. In the event consideration of a default under this Lease, upon the occurrence of an event of default by Tenant, Landlord shall havemay, in addition to any other remedies provided herein 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 and 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 at 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 Paragraph 39 of this Lease at least five (5) days before the time of sale. The proceeds from any such disposition, less any and all rights expenses connected with the taking of possession, holding and remedies under the Uniform Commercial Code selling of the state in which property (including reasonable attorney's fees and other expenses), shall be applied as a credit against the Premises is located, including without limitation indebtedness secured by the right to sell the property described security interest granted in this paragraph at public or private sale upon ten (10) days' notice Paragraph 23. And surplus shall be paid to TenantTenant or, which notice as otherwise required by law, and Tenant hereby agrees is adequate and reasonableshall pay any deficiencies forthwith. Upon request by Landlord, Tenant hereby agrees to execute such other instruments necessary or desirable and deliver to Landlord a financing statement in Landlord's discretion form sufficient to perfect the security interest hereby created. Any statutory lien for rent is not hereby waived, of Landlord in the express contractual lien herein granted being in addition aforementioned property and supplementary thereto. Landlord and Tenant agree that this Lease and proceeds thereof under the 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 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 provisions of the property described Uniform Commercial Code in this Article without force in the prior written consent State of LandlordFlorida.
Appears in 1 contract
Samples: Lease (Bf Enterprises Inc)
LANDLORD'S LIEN. In addition to any statutory landlord’s lien for rent now in Landlord's favoreffect or hereafter enacted, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlord, an express contract lien and to secure performance of Tenant’s obligations hereunder, a continuing security interest to secure in all of Tenant’s property situated in or upon, or used in connection with, the payment Premises or the Project, and all proceeds 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 Landlord until all Rent due hereunder from Tenant, upon obligations of Tenant have been fully performed. Such personality thus encumbered includes specifically all goods, warestrade and other fixtures for the purpose of this Section 20 and inventory, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper accounts receivable and other personal property the proceeds thereof. Upon the occurrence of Tenant (and any transferees or other occupants an Event of the Premises) presently or hereafter situated on the Premises and upon all proceeds of any insurance which may accrue to Tenant by reason of damage or destruction of any such property. In the event of a default under this LeaseDefault, Landlord shall havemay, in addition to any all other remedies remedies, without notice or demand except as provided herein or by lawbelow, all exercise the rights and remedies 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 financing statement or other instrument necessary at Tenant’s expense at the state and county Uniform Commercial Code filing offices. 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 under this Section 20, which power is located, including without limitation coupled with an interest and is irrevocable during the right Term. Landlord may also file a copy of this Lease as a financing statement to sell perfect its security interest in the property described in this paragraph at public or private sale upon Collateral. Within ten (10) days' notice days following written request therefor, Xxxxxx shall execute financing statements to Tenant, which notice Tenant hereby 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 supplementary thereto. Landlord and Tenant agree that this Lease and the 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 the perfect Landlord’s security interest granted herein is not purchased in the Collateral. The landlord’s lien shall survive the expiration 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 earlier termination of the property described in this Article without the prior written consent Lease, until all obligations of LandlordTenant have been fully performed.
Appears in 1 contract
LANDLORD'S LIEN. In addition to any statutory landlord’s lien for rent now in Landlord's favoreffect or hereafter enacted, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlord, an express contract lien and to secure performance of Tenant’s obligations hereunder, a continuing security interest to secure in all of Tenant’s property situated in or upon, or used in connection with, the payment Premises or the Project, and all proceeds 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 Landlord until all Rent due hereunder from Tenant, upon obligations of Tenant have been fully performed. Such personalty thus encumbered includes specifically all goods, warestrade and other fixtures for the purpose of this Section 20 and inventory, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper accounts receivable and other personal property the proceeds thereof. Upon the occurrence of Tenant (and any transferees or other occupants an Event of the Premises) presently or hereafter situated on the Premises and upon all proceeds of any insurance which may accrue to Tenant by reason of damage or destruction of any such property. In the event of a default under this LeaseDefault, Landlord shall havemay, in addition to any all other remedies remedies, without notice or demand except as provided herein or by lawbelow, all exercise the rights and remedies 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 financing statement or other instrument necessary at Tenant’s expense at the state and county Uniform Commercial Code filing offices. 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 under this Section 20, which power is located, including without limitation coupled with an interest and is irrevocable during the right Term. Landlord may also file a copy of this Lease as a financing statement to sell perfect its security interest in the property described in this paragraph at public or private sale upon Collateral. Within ten (10) days' notice days following written request therefor, Tenant shall execute financing statements to Tenant, which notice Tenant hereby 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 supplementary thereto. Landlord and Tenant agree that this Lease and the 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 to perfect Landlord’s security interest in the Collateral. The landlord’s lien shall survive the expiration or earlier termination of the Lease, until all obligations of Tenant have been fully performed. Landlord agrees to subordinate its foregoing contractual lien rights to a third party providing furniture, fixtures and/or equipment for Tenant’s 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 form reasonably acceptable to Landlord. Tenant shall reimburse Landlord for the reasonable attorney’s fees actually incurred 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 the lien granted herein constitutes a first and superior lien and that Tenant will not allow the placing in reviewing and/or negotiating such instruments of any other lien upon any of the property described in this Article without the prior written consent of Landlordsubordination.
Appears in 1 contract
LANDLORD'S LIEN. In addition to any statutory lien for rent Rent in Landlord's ’s favor, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlord, an express contract lien and a continuing security interest to secure the payment for all Base Rent, Additional Rent and other sums of all Rent money becoming due hereunder from Tenant, upon all goods, wares, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper and other personal property of Tenant (and any transferees or other occupants of the Premises) presently or hereafter situated on the Leased Premises subject to this Lease and upon such property shall not be removed therefrom without the consent of Landlord until all proceeds arrearages in Rent as well as any and all sums of any insurance which may accrue money then due to Tenant by reason of damage or destruction of any such propertyLandlord hereunder shall first have been paid and discharged. In the event of a default under this Lease, Landlord landlord shall have, in addition to any other remedies provided herein or by law, all rights and remedies under the Uniform Commercial Code of the state in which the Premises is locatedCode, including without limitation the right to sell the property described in this paragraph Section at public or private sale upon ten (10) days' days notice to Tenant, Tenant which notice Tenant hereby agrees is adequate and reasonable. Tenant hereby agrees to execute such other instruments necessary or desirable in Landlord's ’s discretion to perfect the security interest hereby created. Any statutory lien for rent is Rent in not hereby waived, the express contractual lien herein being granted being in addition and supplementary thereto. Landlord and Tenant agree that this Lease and the 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 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 the Tenant will not allow the placing of any other lien upon any of the property described in this Article Section without the prior written consent of Landlord.
Appears in 1 contract
Samples: Office Lease Agreement (Diamondback Energy Services, Inc.)
LANDLORD'S LIEN. In addition to any the statutory lien for rent in Landlord's favorlien, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlordat all times, an express contract lien and a continuing valid security interest to secure the payment of all Rent rentals 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 goods, wares, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper improvements and other personal property of Tenant (and any transferees or other occupants of the Premises) presently or which may hereafter be situated on the Premises and upon all proceeds therefrom, and such property shall not be removed therefrom without the consent of Landlord until all arrearages in rent, as well as any insurance which may accrue and all other sums of money than due to Tenant Landlord hereunder, shall first have been paid and discharged and all the covenants, agreements and conditions hereof have been fully complied with and performed by reason Tenant. Upon the occurrence of damage or destruction of any such property. In the an event of a default under this Leaseby Tenant, Landlord shall havemay, in addition to any other remedies provided herein or by lawherein, all rights and remedies under the Uniform Commercial Code of the state in which enter upon the Premises is locatedand take possession of any and all goods, including wares, equipment, fixtures, furniture, improvements and other personal property of Tenant situated on the Premises, without limitation the right to liability for trespass or conversion, and sell the property described in this paragraph same at public or private sale, without having such property at the sale, after giving Tenant reasonable notice of the time and place of any public sale upon ten or of the time after which any private sale is to be made, at which sales 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 paragraph 27 of this Lease at least five (105) days' notice 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 paragraph 24. Any surplus shall be paid to TenantTenant or as otherwise required by law; and the Tenant shall pay any deficiencies forthwith. Upon request by Landlord, which notice Tenant hereby agrees is adequate and reasonable. Tenant hereby agrees to execute such other instruments necessary or desirable and deliver to Landlord a financing statement in Landlord's discretion form sufficient to perfect the security interest hereby createdof Landlord in the aforementioned property and proceeds thereof under the provisions of the Uniform Commercial Code in force in the State of Texas. Any The statutory lien for rent is not hereby waived, the express contractual lien security interest herein granted being in addition and supplementary thereto. Landlord and Tenant agree that this Lease and the 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 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 Article without the prior written consent of Landlord.
Appears in 1 contract
LANDLORD'S LIEN. In addition to any statutory lien for rent in Landlord's favor, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlord, an express contract lien and Landlord a continuing security interest to secure the payment of all Rent due hereunder from Tenant, upon in all goods, waresinventory, furniture, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper trade fixtures and other personal property of (collectively, "Tenant's Property") belonging to Tenant (and any transferees which are or other occupants of the Premises) presently or hereafter situated on may be placed in the Premises and upon during the term of this Lease together with all proceeds of the foregoing. Said security interest shall secure all amounts payable by Tenant hereunder, including all costs of collection and any insurance which may accrue other indebtedness of Tenant to Tenant by reason of damage or destruction of any such propertyLandlord. In Upon the event occurrence of a default under this Leaseby Tenant hereunder which is not cured within any applicable cure period, Landlord shall havemay, in addition to and not in lieu of any other remedies provided herein set forth herein, enter upon the Premises, by force if necessary, and take possession of Tenant's Property without liability for trespass or by lawconversion, all rights and remedies under the Uniform Commercial Code of the state in which the Premises is locatedsell Tenant's Property, including or any part thereof, with or without limitation the right notice to sell the property described in this paragraph Tenant, at public or private sale, with or without having Tenant's Property at such sale upon ten and Landlord or its assignee may purchase and apply the proceeds thereof, less any expenses incurred in connection with taking possession and selling Tenant's Property, as a credit against any sums due by Tenant to Landlord pursuant hereto. Any surplus remaining after a sale shall be paid to Tenant and any deficiency shall be immediately paid to Landlord by Tenant. Within seven (107) days' notice to Tenant, which notice Tenant hereby agrees is adequate and reasonable. Tenant hereby agrees to execute such other instruments necessary or desirable in days after Landlord's discretion request therefor, Tenant shall execute any financing statement or security agreement Landlord deems necessary to perfect the such security interest hereby createdin Tenant's Property. Any statutory The lien for rent is not hereby waived, the express contractual lien herein granted being hereunder shall be in addition and supplementary thereto. Landlord and Tenant agree to any Landlord's lien that this Lease and the security interest granted herein serve as a financing statement, and a copy may now or photographic or other reproduction of this Paragraph of this Lease may at any time hereafter be filed of record provided 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 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 Article without the prior written consent of Landlordlaw.
Appears in 1 contract
Samples: Lease (U-Store-It Trust)
LANDLORD'S LIEN. In addition to any the statutory lien for rent in Landlord's favorlandlord’s lien, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlordhave, an express contract lien and at all times, a continuing valid security interest to secure the payment payments of all Rent rent, additional rent and other sums of money becoming due hereunder from TenantTenant 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 goods, wares, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper improvements and other personal property of Tenant (and any transferees or other occupants of the Premises) presently or which may hereafter be situated on in the Premises Property and upon all proceeds therefrom, and such property shall not be removed therefrom without the consent of Landlord until all arrearages in rent, as well as any insurance which may accrue and all other sums of money then due to Tenant Landlord hereunder, shall first have been paid and discharged, and all the covenants, agreements and conditions hereof have been fully complied with and performed by reason Tenant. Upon the occurrence of damage or destruction of any such property. In the an event of a default under this Leaseby Tenant, Landlord shall havemay, in addition to any other remedies provided herein herein, enter upon the Property and take possession of any and all goods, wares, equipment, fixtures, furniture, improvements, and other personal property of Tenant situated in the Property, without liability for trespass or by lawconversion, all rights and remedies under the Uniform Commercial Code of the state in which the Premises is located, including without limitation the right to sell the property described in this paragraph 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 upon ten 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 (105) days' notice 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 16. Any surplus shall be paid to TenantTenant or as otherwise required by law, which notice and Tenant hereby agrees is adequate and reasonableshall pay any deficiencies forthwith. Upon request of the Landlord, Tenant hereby agrees to execute such other instruments necessary or desirable and deliver to Tenant a financing statement in Landlord's discretion form sufficient to perfect the security interest hereby createdof Landlord in the aforementioned property and proceeds thereof under the provisions of the Uniform Commercial Code in force in the Commonwealth of Pennsylvania. Any The statutory lien for rent is not hereby waived, the express contractual lien and security interest herein granted being in addition and supplementary thereto. Landlord and Tenant agree that this Lease and the 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 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 Article without the prior written consent of Landlord.
Appears in 1 contract
Samples: Commercial Lease (Drugmax Inc)
LANDLORD'S LIEN. In addition to any the statutory lien for rent in Landlord's favorlandlord’s lien, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlordhave, an express contract lien and at all times, a continuing valid security interest to secure the payment payments of all Rent rent, additional 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 goods, wares, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper improvements and other personal property of Tenant (and any transferees presently or other occupants of which may hereafter be situated in the Premises) presently or hereafter situated on , and all proceeds therefrom. Tenant’s personal property shall not be removed from the Premises without the consent of Landlord until all arrearages in rent as well as any and upon all proceeds other sums of any insurance which may accrue money then due to Tenant Landlord hereunder shall first have been paid and discharged and all the covenants, agreements and conditions hereof have been fully complied with and performed by reason Tenant. Upon the occurrence of damage or destruction of any such property. In the an event of a default under this Leaseby Tenant, Landlord shall havemay, in addition to any other remedies provided herein or by lawherein, all rights and remedies under the Uniform Commercial Code of the state in which enter upon the Premises is locatedand take possession of any and all goods, including wares, equipment, fixtures, furniture, improvements and other personal property of Tenant situated in the Premises, without limitation the right to liability for trespass or conversion, and sell the property described in this paragraph 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 upon ten or of the time after which any private sale is to be made, at which sale 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 (105) days' notice 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 Premises (including reasonable 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 TenantTenant or as otherwise required by law; and Tenant shall pay any deficiencies forthwith. Upon request of Landlord, which notice Tenant hereby agrees is adequate and reasonable. Tenant hereby agrees to execute such other instruments necessary or desirable and deliver to Tenant a financing statement in Landlord's discretion form sufficient to perfect the security interest hereby createdof Landlord in the aforementioned property and proceeds thereof under the provisions of the Uniform Commercial Code in force in the State of Florida. Any The statutory lien for rent is not hereby waived, the express contractual lien security interest herein granted being in addition and supplementary thereto. Landlord and Tenant agree that this Lease and the 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 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 Article without the prior written consent of Landlord.
Appears in 1 contract
LANDLORD'S LIEN. In addition to any statutory lien for rent Rent in Landlord's favor, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlord, an express contract lien and Landlord a continuing security interest to secure the payment of for all Rent and other sums of money becoming due hereunder from Tenant, upon all goods, wares, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper and other personal property of Tenant (and any transferees or other occupants of the Premises) presently or hereafter situated on the Premises and upon all proceeds of any insurance which may accrue to has been purchased by Tenant by reason use of damage or destruction a tenant improvement allowance, if any, and such property shall not be removed therefrom without the consent of Landlord until all arrearages in rent as well as any such propertyand all other sums of money then due to Landlord hereunder shall first have been paid and discharged. 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 remedies under the Uniform Commercial Code of the state in which the Premises is locatedCode, including without limitation the right to sell the property described in this paragraph Paragraph at public or private sale upon ten providing the notice called for by the Uniform Commercial Code, or if none is so supplied by providing five (105) days' Business Days written notice to Tenant, which notice Tenant hereby agrees is adequate and reasonable. 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 Landlord's the sole discretion of Landlord to perfect the security interest hereby created. Any statutory lien for rent 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 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 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 Article without the prior written consent of Landlord.
Appears in 1 contract
LANDLORD'S LIEN. In addition to any the statutory lien for rent in Landlordlandlord's favorlien, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlordhave, an express contract lien and at all times, a continuing valid security interest to secure the payment payments of all Rent rent, additional 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 goods, wares, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper improvements and other personal property of Tenant (and any transferees or other occupants of the Premises) presently or which may hereafter be situated on in the Premises Property, and upon all proceeds therefrom, and such property shall not be removed therefrom without the consent of Landlord until all arrearages in rent as well as any insurance which may accrue and all other sums of money then due to Tenant Landlord hereunder shall first have been paid and discharged and all the covenants, agreements and conditions hereof have been fully complied with and performed by reason Tenant. Upon the occurrence of damage or destruction of any such property. In the an event of a default under this Leaseby Tenant, Landlord shall havemay, in addition to any other remedies provided herein herein, enter upon the Property and take possession of any and all goods, wares, equipment, fixtures, furniture, improvements and other personal property of Tenant situated in the Property, without liability for trespass or by lawconversion, all rights and remedies under the Uniform Commercial Code of the state in which the Premises is located, including without limitation the right to sell the property described in this paragraph 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 upon ten or of the time after which any private sale is to be made, at which sale 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 (105) days' notice 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 TenantTenant or as otherwise required by law; and Tenant shall pay any deficiencies forthwith. Upon request of Landlord, which notice Tenant hereby agrees is adequate and reasonable. Tenant hereby agrees to execute such other instruments necessary or desirable and deliver to Tenant a financing statement in Landlord's discretion form sufficient to perfect the security interest hereby createdof Landlord in the aforementioned property and proceeds thereof under the provisions of the Uniform Commercial Code in force in the State of Florida. Any The statutory lien for rent is not hereby waived, the express contractual lien security interest herein granted being in addition and supplementary thereto. Landlord and Tenant agree that this Lease and the 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 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 Article without the prior written consent of Landlord.
Appears in 1 contract
LANDLORD'S LIEN. In addition to any the statutory lien for rent in Landlordlandlord's favorlien, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlordhave, an express contract lien and at all times, a continuing valid security interest to secure the payment payments of all Rent rent, additional rent and other sums of money becoming due hereunder from TenantTenant 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 goods, wares, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper improvements and other personal property of Tenant (and any transferees or other occupants of the Premises) presently or which may hereafter be situated on in the Premises Property and upon all proceeds therefrom, and such property shall not be removed therefrom without the consent of Landlord until all arrearages in rent, as well as any insurance which may accrue and all other sums of money then due to Tenant Landlord hereunder, shall first have been paid and discharged and all the covenants, agreements and conditions hereof have been fully complied with and performed by reason Tenant. Upon the occurrence of damage or destruction of any such property. In the an event of a default under this Leaseby Tenant, Landlord shall havemay, in addition to any other remedies provided herein herein, enter upon the Property and take possession of any and all goods, wares, equipment, fixtures, furniture, improvements, and other personal property of Tenant situated in the Property, without liability for trespass or by lawconversion, all rights and remedies under the Uniform Commercial Code of the state in which the Premises is located, including without limitation the right to sell the property described in this paragraph 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 upon ten 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 (105) days' notice 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 17. Any surplus shall be paid to TenantTenant or as otherwise required by law; and Tenant shall pay any deficiencies forthwith. Upon request of the Landlord, which notice Tenant hereby agrees is adequate and reasonable. Tenant hereby agrees to execute such other instruments necessary or desirable and deliver to Tenant a financing statement in Landlord's discretion form sufficient to perfect the security interest hereby createdof Landlord in the aforementioned property and proceeds thereof under the provisions of the Uniform Commercial Code in force in the State of Florida. Any The statutory lien for rent is not hereby waived, the express contractual lien security interest herein granted being in addition and supplementary thereto. Landlord and Tenant agree that this Lease and the 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 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 Article without the prior written consent of Landlord.
Appears in 1 contract
LANDLORD'S LIEN. In addition to any the statutory lien for rent in Landlord's favorlien, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlordhave, an express contract lien and at all times, a continuing valid security interest to secure the payment of all Rent rentals 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 goods, wares, equipment, fixture, furniture, improvements and other personal property of Tenant presently or which may hereafter be situated on the premises, and all proceeds therefrom and such property shall not be removed therefrom without the consent of Landlord until all arrearages in rent as well as any and all other sums of money then due to Landlord hereunder shall first have been paid and discharged and all the covenants, agreements and conditions hereof have been fully complied with and performed by Tenant. 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, inventory, accounts, contract rights, chattel paper improvements and other personal property of Tenant (and any transferees or other occupants of the Premises) presently or hereafter situated on the Premises premise, without liability for trespass or conversion, and upon all proceeds of any insurance which may accrue to Tenant by reason of damage or destruction of any such property. 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 remedies under the Uniform Commercial Code of the state in which the Premises is located, including without limitation the right to sell the property described in this paragraph 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 upon ten 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 paragraph 27 of this lease at least five (105) daysdays 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' notice fees and other expenses), shall be applied as a credit against the indebtedness secured by the security interest granted in this paragraph 24. Any surplus shall be paid to TenantTenant or as otherwise required by law; and the Tenant shall pay any deficiencies forthwith. Upon request by Landlord, which notice Tenant hereby agrees is adequate and reasonable. Tenant hereby agrees to execute such other instruments necessary or desirable and deliver to Landlord a financing statement in Landlord's discretion form sufficient to perfect the security interest hereby createdof Landlord in the aforementioned property and proceeds thereof under the provisions of the Uniform Commercial Code in force in the State of Texas. Any The statutory lien for rent is not hereby waived, the express contractual lien security interest herein granted being in addition and supplementary thereto. Landlord and Tenant agree that this Lease and the 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 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 Article without the prior written consent of Landlord.
Appears in 1 contract
Samples: Lease Agreement (Omega Research Inc)
LANDLORD'S LIEN. In addition to any the statutory lien for rent in Landlordlandlord's favorlien, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlordhave, an express contract lien and at all times, a continuing valid security interest to secure the payment of all Rent rentals 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 goods, wares, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper improvements and other personal property of Tenant (and any transferees or other occupants of the Premises) presently or which may hereafter be situated on the Premises premises, and upon all proceeds therefrom, and such property shall not be removed therefrom without the consent of Landlord until all arrearages in rent as well as any and all other sums of money then due to Landlord hereunder shall first have been paid and discharged and all the covenants, agreements and conditions hereof have been fully complied with and performed by Tenant. Upon the occurrence of any insurance which may accrue to Tenant by reason of damage or destruction of any such property. In the event of a default under this Leaseby Tenant, Landlord shall havemay, in addition to any other remedies provided herein 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 by law, all rights conversion and remedies under the Uniform Commercial Code of the state in which the Premises is located, including without limitation the right to sell the property described in this paragraph 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 upon ten 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 paragraph 29 of this lease at least fifteen (1015) daysdays 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' notice fees and other expenses), shall be applied as a credit against the indebtedness secured by the security interest granted in this paragraph 26. Any surplus shall be paid to TenantTenant or as otherwise required by law; and the Tenant shall pay any deficiencies forthwith. Upon request by Landlord, which notice Tenant hereby agrees is adequate and reasonable. Tenant hereby agrees to execute such other instruments necessary or desirable and deliver to Landlord a financing statement in Landlord's discretion form sufficient to perfect the security interest hereby createdof Landlord in the aforementioned property and proceeds thereof under the provisions of the Uniform Commercial Code in force in the State of Texas. Any The statutory lien for rent is not hereby waived, the express contractual lien security interest herein granted being in addition and supplementary thereto. Landlord and Tenant agree that this Lease and the 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 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 Article without the prior written consent of Landlord.
Appears in 1 contract
Samples: Office/Showroom/Warehouse Lease Agreement (Pharmchem Laboratories Inc)
LANDLORD'S LIEN. In addition to any statutory Landlord shall have a valid and subsisting lien for rent in Landlord's favor, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlord, an express contract lien and a continuing security interest to secure the payment of all Rent due hereunder from upon Tenant's signs, upon all goods, wares, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper fixtures and other personal property of Tenant (and any transferees or other occupants of the Premises) presently or hereafter situated on the Premises and upon Premises. Such property shall not be removed therefrom without the written consent of Landlord until all proceeds of any insurance which may accrue arrearages then due to Landlord hereunder have been paid. Upon written request therefor, Tenant by reason of damage or destruction of any agrees to execute such propertydocuments as Landlord deems reasonably necessary to perfect the security interest granted hereby. In the event of a default under this LeaseDefault by Tenant hereunder, Landlord shall havemay, in addition to any other remedies provided herein or by law, all rights and remedies under the Uniform Commercial Code of the state in which enter upon the Premises is locatedand take possession of signs, including fixtures, furniture and other personal property of Tenant without limitation the right to liability for trespass or conversion, and sell the property described in this paragraph same with or without notice at public or private sale upon ten (10) days' notice sale, at which Landlord or its assigns may purchase and apply the proceeds, less expenses connected therewith, as a credit against sums due by Tenant to Landlord. Any surplus shall be paid to Tenant, which notice and Tenant hereby agrees is adequate and reasonable. Tenant hereby agrees to execute such other instruments necessary or desirable pay any deficiency forthwith, upon demand. Landlord may foreclose said lien in Landlord's discretion to perfect the security interest hereby createdmanner provided by law. Any statutory lien for rent is not hereby waived, the express contractual The lien herein granted being to Landlord shall be in addition to any landlord's lien that may at any time be provided by law. Hereinafter, in the event Tenant obtains financing to be secured by Tenant's personal property, furniture, furnishings and supplementary thereto. fixtures located in the Premises, Landlord shall subordinate the lien herein granted as provided as and Tenant agree that this Lease and the 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 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 extent provided in this Article without the prior written consent of Landlordparagraph 10 hereof.
Appears in 1 contract
Samples: Lease Agreement (Tangibledata Inc)
LANDLORD'S LIEN. In addition to any statutory lien for rent in Landlord's favor, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants to Landlord, an express contract lien and Landlord a continuing security interest to secure the payment for all rentals and other sums of all Rent money becoming due hereunder from Tenant, upon all goods, wares, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper and other personal property of Tenant (and any transferees or other occupants of the Premises) presently or hereafter situated on the Premises Leased Premises, all additions and upon all proceeds replacements of any insurance which may accrue to Tenant by reason of damage or destruction of any such property, the proceeds thereof of such property and all after-acquired property of Tenant located on the Leased Premises. Such property shall not be removed therefrom without the consent of Landlord until all arrearages in rent as well as any and all other sums of money then due to Landlord hereunder shall first have been paid and discharged. In the event of a default under this Lease, Landlord shall have, in addition to any other remedies provided herein or by lawlaw or at equity, all rights and remedies under the Uniform Commercial Code of the state in which the Premises is locatedCode, including without limitation the right to sell the property described in this paragraph Paragraph 19 at public or private sale upon ten five (105) days' days notice to Tenant, which notice Tenant hereby agrees is adequate and reasonable. 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 herein granted being in addition and supplementary thereto. Landlord and Tenant agree that this Lease and the 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 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 Article without the prior written consent of Landlord.
Appears in 1 contract
LANDLORD'S LIEN. In addition to any statutory lien for rent in Landlordlandlord's favorlien, Landlord (the secured party for purposes hereof) shall have and now or hereafter enacted, Tenant (the debtor for purposes hereof) hereby grants to Landlord, an express contract lien and to secure performance of Tenant's obligations hereunder, a continuing security interest to secure in all of Tenant's property situated in, or upon, or used in connection with the payment Premises or the Premises, and all proceeds 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 Landlord until all Rent due hereunder from Tenant, upon obligations of Tenant have been fully performed. Such personalty thus encumbered includes specifically all goods, warestrade and other fixtures for the purpose of this Section 21 and inventory, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper accounts receivable and other personal property the proceeds thereof. Upon the occurrence of Tenant (and any transferees or other occupants an Event of the Premises) presently or hereafter situated on the Premises and upon all proceeds of any insurance which may accrue to Tenant by reason of damage or destruction of any such property. In the event of a default under this LeaseDefault, Landlord shall havemay, in addition to any all other remedies remedies, without notice or demand except as provided herein or by lawbelow, all exercise the rights and remedies afforded to a secured party under the Uniform Commercial Code of the state in which the Premises is locatedare 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, including without limitation the right to sell the property described in this paragraph at public or private sale upon ten (10) 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 financing statement or other instrument necessary at Tenant's expense at the state and county Uniform Commercial Code filing offices. 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 under this Section 21, which notice Tenant hereby agrees power is adequate coupled with an interest and reasonable. Tenant hereby agrees to execute such other instruments necessary or desirable in Landlord's discretion to perfect is irrevocable during 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 theretoTerm. Landlord and Tenant agree that may also file a copy of this Lease and the security interest granted herein serve as a financing statementstatement to perfect its security interest in the Collateral. Within ten days following written request therefor, and a copy or photographic or other reproduction of this Paragraph of this Lease may Tenant shall execute financing statements to be filed of record to perfect Landlord's security interest in the Collateral. Notwithstanding the above, upon written request from Tenant, Landlord agrees to waive or subordinate its interest in the Collateral in favor of Tenant’s lender, which has a security interest in all of Tenant’s personal property located in the Premises, by Landlord signing an agreement in favor of Tenant’s lender acknowledging such waiver or subordination and have permitting Tenant’s lender to enter the Premises for the limited purpose of removing the Collateral in substantially the same force form as attached hereto as Exhibit G 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 the lien granted herein constitutes made 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 Article without the prior written consent of Landlordpart hereof.
Appears in 1 contract
Samples: Lease Agreement (Luvu Brands, Inc.)