LANDLORD'S SECURITY INTEREST. The parties intend that, if an Event of Default occurs under this Lease, Landlord will control Tenant’s Personal Property so that Landlord or its designee or nominee can operate, sell or re-let each Facility for its Primary Intended Use. Accordingly, to implement such intention, and for the purpose of securing the payment and performance obligations of Tenant hereunder, Landlord and Tenant agree as follows:
Appears in 3 contracts
Samples: Master Lease Agreement (Assisted Living Concepts Inc), Master Lease Agreement (Emeritus Corp\wa\), Master Lease Agreement (Emeritus Corp\wa\)
LANDLORD'S SECURITY INTEREST. The parties intend that, if an Event of Default occurs and is continuing under this Lease, Landlord will control Tenant’s 's Personal Property so that Landlord or its designee or nominee can operate, sell or re-let each Facility for its Primary Intended Use. Accordingly, to implement such intention, and for the purpose of securing the payment and performance obligations of Tenant hereunder, Landlord and Tenant agree as follows:
Appears in 1 contract
Samples: Master Lease Agreement (Ventas Inc)
LANDLORD'S SECURITY INTEREST. The parties intend that, if an Event of Default occurs under this Lease, Landlord will control Tenant’s 's Personal Property so that Landlord or its designee or nominee can operate, sell or re-let each Facility for its Primary Intended Use. Accordingly, to implement such intention, and for the purpose of securing the payment and performance obligations of Tenant hereunder, Landlord and Tenant agree as follows:
Appears in 1 contract
Samples: Master Lease Agreement (Brookdale Senior Living Inc.)
LANDLORD'S SECURITY INTEREST. The parties intend that, if an Event of Default occurs under this Lease, Landlord will control Tenant’s Personal Property (except that personal property expressly excluded under Section 35 below) so that Landlord or its designee or nominee can operate, sell or re-let each Facility for its Primary Intended Use. Accordingly, to implement such intention, and for the purpose of securing the payment and performance obligations of Tenant hereunder, Landlord and Tenant agree as follows:
Appears in 1 contract
Samples: Master Lease Agreement (Capital Senior Living Corp)
LANDLORD'S SECURITY INTEREST. The parties intend that, if an Event of Default occurs under this Lease, Landlord will control Tenant’s 's Personal Property (except that personal property expressly excluded under Section 35 below) so that Landlord or its designee or nominee can operate, sell or re-let each Facility for its Primary Intended Use. Accordingly, to implement such intention, and for the purpose of securing the payment and performance obligations of Tenant hereunder, Landlord and Tenant agree as follows:
Appears in 1 contract
Samples: Master Lease Agreement (Capital Senior Living Corp)
