Lessor's Lien. To the fullest extent permitted by applicable law, Lessor is granted a lien and security interest on all Lessee’s personal property now or hereinafter placed in or upon the Leased Property, and such lien and security interest shall remain attached to such Lessee’s personal property until payment in full of all Rent and satisfaction of all of Lessee’s obligations hereunder; provided, however, Lessor shall subordinate its lien and security interest to that of any non-Affiliate of Lessee which finances such Lessee’s personal property or any non-Affiliate conditional seller of such Lessee’s personal property, the terms and conditions of such subordination to be satisfactory to Lessor in the exercise of reasonable discretion. Lessee shall, upon the request of Lessor, execute such financing statements or other documents or instruments reasonably requested by Lessor to perfect the lien and security interests herein granted. Lessee hereby authorizes Lessor to execute and file financing statements signed only be a representative of Lessor covering the security interest of Lessor in Lessee’s personal property.
Appears in 24 contracts
Samples: Hotel Lease Agreement, Hotel Lease Agreement (Apple REIT Ten, Inc.), Hotel Lease Agreement (Apple REIT Ten, Inc.)
Lessor's Lien. To the fullest extent permitted by applicable law, Lessor is granted a lien and security interest on all Lessee’s 's personal property now or hereinafter placed in or upon the Leased Property, and such lien and security interest shall remain attached to such Lessee’s 's personal property until payment in full of all Rent and satisfaction of all of Lessee’s 's obligations hereunder; provided, however, Lessor shall subordinate its lien and security interest to that of any non-Affiliate of Lessee which finances such Lessee’s 's personal property or any non-Affiliate conditional seller of such Lessee’s 's personal property, the terms and conditions of such subordination to be satisfactory to Lessor in the exercise of reasonable discretion. Lessee shall, upon the request of Lessor, execute such financing statements or other documents or instruments reasonably requested by Lessor to perfect the lien and security interests herein granted. Lessee hereby authorizes Lessor to execute and file financing statements signed only be a representative of Lessor covering the security interest of Lessor in Lessee’s 's personal property.
Appears in 7 contracts
Samples: Contract for Purchase and Sale of Hotels (Itt Corp /Nv/), Master Hotel Lease Agreement (Apple Suites Inc), Master Hotel Lease Agreement (Apple Suites Inc)
Lessor's Lien. To the fullest extent permitted by applicable law, Lessor is granted a lien and security interest on all Lessee’s personal property Personal Property now or hereinafter placed in or upon the Leased PropertyProperty and the Lessee’s bank accounts, with the exception of the Lessee’s central disbursement, payroll and concentration bank accounts (the “Depository Accounts”), and such lien and security interest shall remain attached to such Lessee’s personal property Personal Property and Depository Accounts until payment in full of all Rent and satisfaction of all of Lessee’s obligations hereunder; provided, however, Lessor shall subordinate its lien and security interest to that of any non-Affiliate of Lessee which finances such Lessee’s personal property Personal Property or any non-Affiliate conditional seller of such Lessee’s personal propertyPersonal Property, the terms and conditions of such subordination to be satisfactory to Lessor in the exercise of reasonable discretion. Lessee shall, upon the request of Lessor, title the Depository Accounts in the name of the Lessor or execute such financing statements or other documents or instruments reasonably requested by Lessor to perfect the lien and security interests herein granted. In addition, the Lessor shall have unrestricted access to the Depository Accounts. To the extent that the Lessor withdraws from the Depository Accounts more than the rent and other obligations of the Lessee hereby authorizes Lessor to execute and file financing statements signed only the Lessor, the excess shall be a representative of Lessor covering loan from the security interest of Lessor in Lessee to the Lessor, repayable upon demand by the Lessee’s personal property.
Appears in 5 contracts
Samples: Master Lease Agreement, Master Lease Agreement (Supertel Hospitality Inc), Master Lease Agreement (Supertel Hospitality Inc)
Lessor's Lien. To the fullest extent permitted by applicable law, Lessor is granted a lien and security interest on all Lessee’s personal property 's Personal Property now or hereinafter placed in or upon the Leased Property, and such lien and security interest shall remain attached to such Lessee’s personal property 's Personal Property until payment in full of all Rent and satisfaction of all of Lessee’s obligations other amounts due to Lessor hereunder; provided, however, Lessor shall subordinate its Lessor's lien and security interest shall be subordinate to that of any non-Affiliate of Lessee which finances such Lessee’s personal property 's Personal Property or any non-Affiliate conditional seller of such Lessee’s personal property's Personal Property. Upon request, the Lessor will execute a subordination agreement containing terms and conditions of such subordination to be satisfactory to Lessor in the exercise of reasonable discretion. Lessee shall, upon the request of LessorLessor and to the extent such action does not breach any of Lessee's financing, execute such financing statements or other documents or instruments reasonably requested by Lessor to perfect the lien and security interests herein granted. Lessee hereby authorizes Lessor to execute and file financing statements signed only be a representative of Lessor covering the security interest of Lessor in Lessee’s personal property.
Appears in 3 contracts
Samples: Master Hotel Agreement (Felcor Suite Hotels Inc), Lease Agreement (Felcor Lodging Trust Inc), Lease Agreement (Bristol Hotels & Resorts Inc)
Lessor's Lien. To the fullest extent permitted by applicable law, -------------- Lessor is granted a lien and security interest on all Lessee’s 's personal property now or hereinafter placed in or upon the Leased Property, and such lien and security interest shall remain attached to such Lessee’s 's personal property until payment in full of all Rent and satisfaction of all of Lessee’s 's obligations hereunder; provided, however, Lessor shall subordinate its lien and security interest to that of any non-Affiliate of Lessee which finances such Lessee’s 's personal property or any non-Affiliate conditional seller of such Lessee’s 's personal property, the terms and conditions of such subordination to be satisfactory to Lessor in the exercise of reasonable discretion. Lessee shall, upon the request of Lessor, execute such financing statements or other documents or instruments reasonably requested by Lessor to perfect the lien and security interests herein granted. Lessee hereby authorizes Lessor to execute and file financing statements signed only be a representative of Lessor covering the security interest of Lessor in Lessee’s 's personal property.
Appears in 2 contracts
Samples: Hotel Lease Agreement (Apple Suites Inc), Master Hotel Lease Agreement (Apple Hospitality Two Inc)
Lessor's Lien. To the fullest extent permitted by applicable law, ------------- Lessor is granted a lien and security interest on all Lessee’s 's personal property now or hereinafter placed in or upon the Leased Property, and such lien and security interest shall remain attached to such Lessee’s 's personal property until payment in full of all Rent and satisfaction of all of Lessee’s 's obligations hereunder; provided, however, Lessor shall subordinate its lien and security interest to that of any non-Affiliate of Lessee which finances such Lessee’s 's personal property or any non-Affiliate conditional seller of such Lessee’s 's personal property, the terms and conditions of such subordination to be satisfactory to Lessor in the exercise of reasonable discretion. Lessee shall, upon the request of Lessor, execute such financing statements or other documents or instruments reasonably requested by Lessor to perfect the lien and security interests herein granted. Lessee hereby authorizes Lessor to execute and file financing statements signed only be a representative of Lessor covering the security interest of Lessor in Lessee’s 's personal property.
Appears in 2 contracts
Samples: Hotel Lease Agreement (Apple Suites Inc), Master Hotel Lease Agreement (Apple Hospitality Two Inc)