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: Office Lease Agreement (Ritz Interactive, Inc.), Office Lease Agreement (RDC International Inc), Office Lease Agreement (Universal Access 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 the payment in all of all Rent due hereunder from Tenant, upon all goods, wares, equipment’s furniture, fixtures, furnitureinventory and equipment situated in or upon the Premises or the Project, inventoryand all proceeds thereof (except merchandise sold in the ordinary course of business) (collectively, accountsthe “Collateral”), and the Collateral shall not be removed from the Premises or the Project without the prior written consent of Landlord until all obligations of Tenant have been fully performed. For the purposes of this Section 20, there shall be a rebuttable presumption that all property located in the Premises is owned by Tenant. For the avoidance of doubt, the Collateral shall not include any contract rights, chattel paper and accounts receivable or other personal similar intangible property of Tenant (and any transferees located at the Premises or other occupants the Project or associated with Tenant’s use of the Premises) presently or hereafter situated on . Upon the Premises and upon all proceeds occurrence of any insurance which may accrue to Tenant by reason an 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 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 to sell the property described in this paragraph at public act or private sale upon ten (10) days' notice to Tenant, which notice Tenant hereby agrees is adequate and reasonableevent. Tenant hereby agrees to execute such other instruments necessary or desirable in Landlord's discretion 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. Upon Tenant’s written request, Landlord shall subordinate the security interest hereby created. Any statutory lien for rent in the Collateral granted to Landlord under this Section 20, to Tenant’s primary line of credit provider so long as such credit provider is not hereby waivedan institutional lender unaffiliated with Tenant, 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 statementshall, and a copy at Tenant’s expense, execute Landlord’s standard form of subordination documentation to evidence such subordination; provided, however, such subordination shall not apply to any Collateral paid for in whole or photographic or other reproduction of this Paragraph of this Lease may be filed of record in part 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: Lease Agreement (Veracyte, Inc.), Lease Agreement (Veracyte, Inc.), Lease Agreement (Veracyte, 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 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: Office Lease Agreement, Office Lease Agreement (Sonus Networks 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, Lease Agreement (Power Solutions 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 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 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 a contractual Landlord’s 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 loss which Landlord may suffer by reason of the breach by Tenant of any damages or 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 any insurance which may accrue Landlord until all arrearages in rent as well as 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 premises and take possession of any goods, wares, equipment, fixtures, furniture, improvements and other personal property of Tenant situated on the premises, 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, pursuant to its contractual Landlord’s lien or its security interest, 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 requirements of reasonable notice shall be met if such notice is given in the manner prescribed in Paragraph 29 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 22. Any surplus shall be paid to TenantTenant or as otherwise required by law; and 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 Landlord’s lien [illegible] the security interest herein granted being [illegible] 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 Agreement, Office Building Lease Agreement (Rackspace 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 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: Healthcore Medical Solutions Inc, Healthcore Medical Solutions 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 consideration of the mutual benefits arising under this Lease and in order to any statutory lien for rent receive mutual benefits arising under this Lease and in Landlord's favor, Landlord (the secured party for purposes hereof) shall have and Tenant (the debtor for purposes hereof) hereby grants order to Landlord, an express contract lien and a continuing security interest to secure the receive payment of all Rent due hereunder from Tenantpayable by Tenant to Landlord under this Lease and the faithful performance and observance of all covenants and agreements of Tenant under this Lease, Tenant hereby grants to Landlord a lien and security interest on and in all property of Tenant now or hereafter placed in or upon the Leased Premises, including without limitation all goods, wares, fixtures, Trade Fixtures, machinery, inventory, equipment, furniture, furnishings and other personal property now or hereafter placed in or upon the Leased Premises (collectively, the "Personal Property"), and such Personal Property shall be and remain subject to such lien and security interest of Landlord for payment of all Rent and other sums agreed to be paid by Tenant under this Lease. Said lien and security interest shall be in addition to and cumulative of the Landlord's liens provided by law. This Lease shall constitute a security agreement under the Uniform Commercial Code as enacted and enforced in the State of Texas (the "UCC") so that Landlord shall have and may enforce a security interest on all such Personal Property. Such Personal Property shall not be removed from the Leased Premises unless such removal is in the ordinary course of Tenant's business and Tenant is not at the time of such removal in default under this Lease. Tenant agrees to execute as debtor such financing statement or statements as Landlord may now or hereafter reasonably request in order that such security interest or interests may be protected pursuant to said UCC. Landlord may at its election at any time file a copy of this Lease as a financing statement. Landlord, as secured party, shall be entitled to all of the rights and remedies afforded a secured party under said UCC, which rights and remedies shall be in addition to and cumulative of Landlord's liens and rights provided by law or by the other terms and provisions of this Lease. Notwithstanding anything contained herein to the contrary, Landlord shall subordinate all of its liens (contractual and statutory) to Tenant's financing or all or any portion of its 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 and upon all proceeds of any insurance which may accrue equipment. Such subordination shall be evidenced by a subordination agreement 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 be reasonably satisfactory 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 such subordination shall be in an amount not greater than 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 actual amount financed 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 LandlordTenant.
Appears in 2 contracts
Samples: Lease Agreement and Option to Purchase (Ricks Cabaret International Inc), Lease Agreement and Option to Purchase (Ricks Cabaret International Inc)
LANDLORD'S LIEN. In addition to any statutory Landlord shall have at all times during the Term of this Agreement, a valid lien for rent in Landlord's favor, Landlord (the secured party for purposes hereof) shall have all rents 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 due or becoming due hereunder from Tenant, upon all goods, wares, equipmentmerchandise, inventory, furniture, fixtures, furnitureequipment, inventory, accounts, contract rights, chattel paper vehicles and other tangible personal property and effects of Tenant (situated in or upon the Leased Property, including Tenant's Personal Property but excluding items of Tenant's Intangible Personal Property, and such property shall not be removed from the Leased Property except in accordance with the terms of this Agreement without the approval and consent of Landlord until all arrearages in rent as well as any transferees or and all other occupants sums of money then due to Landlord hereunder shall first have been paid and discharged in full. Upon the Premises) presently or hereafter situated on occurrence and during the Premises and upon all proceeds continuance 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 law, enter upon the Leased Property and take possession of any and all rights goods, wares, merchandise, books and remedies under records, inventory, furniture, fixtures, equipment, vehicles and other tangible personal property and effects of Tenant situated in or upon or with respect to the Uniform Commercial Code of the state in which the Premises is locatedLeased Property, including Tenant's Personal Property but excluding items of Tenant's Intangible Personal Property, 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 to sale, with or without having such property appraised, at which Landlord or its assigns may purchase any of the same and apply the proceeds thereof, less any and all expenses connected with the taking of possession and sale, as a credit against any sums due from Tenant, which notice and Tenant hereby agrees is adequate and reasonable. Tenant hereby agrees to execute such pay any deficiency forthwith. If Landlord takes possession and control of the Leased Property and operates the same, Tenant shall for so long as Landlord is actively operating the Leased Property, have no obligation to operate the Leased Property. 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 createdmanner and form provided by law. Any The statutory lien for rent rent, if any, is not hereby waived, waived and the express contractual lien herein granted being is in addition thereto and supplementary thereto. Tenant agrees to execute and deliver to Landlord and Tenant agree that this Lease and from time to time during the security interest granted herein serve as a financing statement, and a copy or photographic or other reproduction Term of this Paragraph of this Lease Agreement such financing statements as may be filed of record required by Landlord and have in order to perfect the same force and effect as the original. Tenant warrants and represents that the collateral subject to the security interest granted Landlord's lien provided herein is not purchased or used by Tenant for personal, family or household purposesApplicable Laws. Tenant further warrants and represents to Landlord agrees that during an Event of Default or the lien granted herein constitutes a first and superior lien and that Tenant will not allow the placing pendency of any event or circumstance which, with the passage of time may become an Event of Default under Section 12.1(a), Tenant shall not make any distributions to its shareholders, partners, members or other lien upon owners and any of the property described in this Article without the prior written consent of such distributions shall be subordinate to Landlord's claim for Rent and other sums hereunder.
Appears in 2 contracts
Samples: Lease Agreement (CNL Hospitality Properties Inc), Lease Agreement (CNL Hospitality Properties Inc)
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 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 sale, after giving Tenant at least 10 days written notice (or more if required by Law) of the time and place of such sale. Such notice may be sent with or without return receipt requested. Unless prohibited by Law, any Landlord Party may purchase any Collateral at such sale. Subject to applicable Law, the proceeds from such sale, less Landlord’s expenses, including reasonable attorneys’ fees and 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 to Tenantdemand. Upon Landlord’s request, which notice Tenant hereby agrees is adequate and reasonable. Tenant hereby agrees to execute such other instruments necessary or desirable in Landlord's discretion and deliver to Landlord for filing purposes a financing statement sufficient to perfect the foregoing security interest hereby createdinterest. 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 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
Samples: Office Lease (Power Efficiency Corp)
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 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 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
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 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 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 (Tangibledata 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 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, 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 equipment, fixtures, furniture, improvement, and other personal property of Tenant situated on the Premises, and all proceeds therefrom, and such property shall not be removed therefrom without the consent of the Landlord until all sums of money then due to Landlord hereunder from shall first have been paid and all the covenants, agreements and conditions hereof have been fully complied with and performed by Tenant. Upon the occurrence of any event of default by Tenant, Landlord may, in addition to any other remedies provided herein, enter upon the Premises and take possession of any and all goods, wares, equipment, fixtures, furniture, 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 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, with or without having such property at the sale, after giving Tenant notice of the time and place of any public sale, or of the time after which any private sale upon ten is to be made, at which sale Landlord or its assigns may purchase unless otherwise prohibited by law. The proceeds from any such disposition, less any and all expenses connected with the taking of possession, holding and selling of the property (10) days' notice 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. Any surplus shall be paid to TenantTenant or as otherwise required by law; and 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 In the event that Tenant agree that this Lease and the security interest granted herein serve as or its lenders require a financing statementLandlord’s Lien Subordination, such request for review shall be accompanied by a $3,000 review fee, and a copy Landlord may grant such but shall not be required to give any notice, ability to cure, free occupancy period 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 ability to the security interest granted herein is not purchased or used by Tenant for personal, family or household purposes. Tenant further warrants and represents conduct sales on premises 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 LandlordTenant’s lender.
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 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 sale, after giving Tenant at least 10 days written notice (or more if required by Law) of the time and place of such sale. Such notice may be sent with or without return receipt requested. Unless prohibited by Law, any Landlord Party may purchase any Collateral at such sale. Subject to applicable Law, the proceeds from such sale, less Landlord’s expenses, including reasonable attorneys’ fees and 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 to Tenant, which notice Tenant hereby agrees is adequate and reasonabledemand. 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 as permitted under Law. Notwithstanding the foregoing, Landlord’s security interest (i) shall not attach to any personal property subject to an existing perfected security interest (but only for so long as such other security interest exists) in favor of a copy or photographic bank or other reproduction of this Paragraph of this Lease may be filed of record by Landlord Financial institution whose loan and have the same force and effect as the original. security agreements with 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 prohibit any other lien upon liens on such collateral, but (ii) shall be subordinate to any of the property described in this Article without the prior written consent of Landlordsuch existing security interests that do not prohibit subordinate liens.
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 (a) Subject to any statutory lien this Section 12.15, as security for rent in the payment and performance of all of Tenant’s obligations and Landlord's favor’s rights under this Lease, Tenant hereby assigns, grants, delivers, sets over and transfers to 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 Tenant shall cause the Operating Subtenants, to the extent permitted by Applicable Law, to assign, grant, deliver, set over and transfer to the applicable Landlord and grant to such Landlord, its successors and assigns pursuant to those certain Security Agreements dated of even date herewith (collectively, the “Security Agreements”), a continuing security interest to secure the payment in all of all Rent due hereunder from Tenantits right, upon all goodstitle and interest, 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 whether now owned or hereafter situated on the Premises and upon all proceeds of any insurance which may accrue to Tenant by reason of damage acquired, now existing or destruction of any such property. In the event of a default under this Leasehereafter arising, Landlord shall havewherever located, in addition and to any other remedies provided herein or by law(i) the Tenant’s Personal Property, (ii) all rights and remedies under the Uniform Commercial Code of the state in which the Premises is locatedPermits, including without limitation the right Health Care Licenses and the Provider Agreements and (iii) Accounts Receivables (collectively with the Tenant’s Personal Property and the Permits, the “Landlord Lien Collateral”) in each case to sell the property described extent owned by Tenant or Operating Subtenants, as applicable. The aforementioned grants of a security interest in this paragraph at public the Landlord Lien Collateral shall, in each instance, create a first priority lien. Tenant shall sign and deliver, and shall cause the Operating Subtenants to sign and deliver, as applicable, to Landlord or private sale upon ten (10) days' notice to the applicable Landlord, as the case may be, or if Tenant’s or the Operating Subtenants’ signatures are not required, which notice Tenant hereby agrees is adequate authorizes Landlord to file (and reasonable. Tenant hereby agrees shall cause each Operating Subtenant to execute such authorize the applicable Landlord to file) in all necessary governmental offices, one or more financing statements or other instruments necessary or desirable in Landlord's discretion appropriate filings to perfect the security interest hereby createdgranted by Tenant to Landlord hereunder or by the Operating Subtenants to the applicable Landlord under the Security Agreements. Any statutory lien Tenant shall promptly notify Landlord in writing if Tenant obtains any interest in any Collateral consisting of Deposit Accounts (other than payroll, employee benefits, security deposits, withholding, escrow, trust accounts, tax withholding accounts and other similar fiduciary accounts) or intellectual property, and, upon Landlord’s request, shall promptly execute such documents and take such actions as Landlord deems appropriate to effect Landlord’s valid and enforceable security interest upon such Collateral, including obtaining any appropriate possession, access or control agreement. If any Collateral is in the possession of a third party, Tenant shall use commercially reasonably efforts to obtain an acknowledgment that such third party holds the Landlord Lien Collateral for rent is not hereby waived, the express contractual lien herein granted being in addition and supplementary theretobenefit of Landlord. Landlord shall have all rights and remedies available to a secured party under the Uniform Commercial Code, as amended from time to time. Tenant agree acknowledges that this Lease and the Landlord may collaterally assign its security interest granted herein serve as in the Landlord Lien Collateral to Mortgagee and/or to a financing statementSuperior Landlord to secure Landlord’s obligations to Mortgagee or such Superior Landlord. Upon Landlord’s request, and a copy or photographic or other reproduction at the request of this Paragraph Mortgagee, Tenant shall confirm in writing the grant of such security interests to Mortgagee and/or Superior Landlord. These provisions of this Lease may shall be filed deemed to be a security agreement for purposes of record the Uniform Commercial Code. To the extent permitted by Applicable Law, in connection with the expiration or earlier termination of this Lease, Tenant shall cooperate with Landlord, and Tenant shall cause the Operating Subtenants to cooperate with the applicable Landlord, in causing the Health Care Licenses and the Provider Agreements to be reissued in the name of Landlord and have or the same force and effect applicable Landlord, as the originalcase may be, or its designee as of such date or as soon thereafter as is practicable, and such Landlord shall be entitled to apply in its own name, its designee’s name or the Operating Subtenant’s name for the transfer of the Health Care Licenses and the Provider Agreements to Landlord or the applicable Landlord, as the case may be, or its designee, and Tenant’s obligation to cooperate and to cause the Operating Subtenants to cooperate shall survive the expiration or earlier termination of this Lease. Any grant of security interest in, or pledge or collateral assignment of, the Landlord Lien Collateral by Tenant warrants and represents that the collateral to any financial institution making a loan to Tenant shall be expressly subject to the terms of this Lease, including, without limitation, the foregoing rights of Landlord and security interest granted herein is not purchased or used by Tenant for personal, family or household purposestherein. Tenant further warrants shall provide, and represents shall cause the Operating Subtenant to provide, 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 copies of the property described in this Article without documents evidencing the prior written consent Working Capital Loan within five (5) Business Days following receipt of Landlord’s written request.
Appears in 1 contract
Samples: Master Lease (Griffin-American Healthcare REIT IV, 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 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: U-Store-It Trust
LANDLORD'S LIEN. In addition to any applicable common law or statutory lien for rent in lien, none of which are to be deemed waived by Landlord's favor, 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 a valid lien and a continuing 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 arrearage in Rent as well as any insurance 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. Landlord covenants and agrees to subordinate the lien granted hereunder to any commercial lender or furniture, fixture or equipment supplier from whom Tenant either leases or finances ("FFE Supplier") to which may accrue Tenant grants a security interest. Upon the occurrence of an Event of Default by Tenant, but subject to Tenant by reason Tenant’s lender rights, if any, after the expiration of damage or destruction of any such property. In the event of a default under this Leaseall stated notice and cure periods, 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 peaceably 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 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 Section 23 of this Lease at least five (105) days' notice days before the time of sale. The proceeds from any such disposition, less 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 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 Commonwealth of Pennsylvania. Any statutory lien for rent is not hereby waivedNotwithstanding the foregoing, the express contractual lien herein granted being in addition parties acknowledge and supplementary thereto. Landlord and Tenant agree that this Lease and Tenant’s lender or FFE Supplier may have superior rights to 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 originalproperty noted herein. Tenant warrants and represents shall use its best efforts to obtain, within forty-five (45) days of the date hereof, a waiver of all such rights from its lender in this regard, and, failing to obtain such waiver, that Tenant shall use its best efforts to obtain from such lender, the collateral subject right to grant a subordinated lien to Landlord in such goods, second only 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 Landlordsuch lender.
Appears in 1 contract
Samples: Inovio Pharmaceuticals, 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 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 the statutory lien for rent in Landlordlandlord's favorlien, 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 rental 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, inventoryimprovement, accounts, contract rights, chattel paper 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 the 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 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, or of the time after which any private sale upon ten 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 described in Paragraph 28 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 23. Any surplus shall be paid to TenantTenant or as otherwise required by law; and 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 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 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