Lien on Personal Property. Tenant hereby expressly grants to Landlord a security interest in and an express contractual lien upon Tenant’s or any other party’s furniture, furnishings, equipment, and articles of personal property of every kind and nature whatsoever (“Personalty”), situated in or on the Premises, including all after-acquired Personalty (“Secured Property”) to secure the performance by Tenant of its obligations under this Lease, if an Event of Default occurs after all applicable notice and cure periods. The Secured Property will not be removed from the Premises by Tenant without the prior written consent of Landlord until all Rents then due to Landlord have first been paid, except for the sale of inventory in the ordinary course of Tenant’s business so long as such inventory is replaced by Tenant. Tenant hereby appoints Landlord as Tenant’s attorney-in-fact, and authorized Landlord to execute and to file financing statements signed only by Landlord (as attorney-in-fact) covering such security or to otherwise take such action as may be necessary to perfect such security interest and/or contractual lien. Upon termination of this Lease, Landlord may, in addition to any other remedies, enter upon the Premises and take possession of the Secured Property situated on the Premises without liability for trespass or conversion, and sell the same with notice at public or private sale, with or without having such property at the sale, at which Landlord or its assigns may purchase, and may apply the proceeds thereof less any and all expenses connected with the taking of possession and sale of the Secured Property, as a credit against any sums due by Tenant to Landlord. Any surplus will be paid to Tenant provided Landlord has been paid in full, and Tenant agrees to pay any deficiency forthwith, after demand. Landlord, at its option may foreclose the security interest and/or contractual lien in the manner provided by Applicable Law. The security interest and contractual lien granted to Landlord is in addition to Landlord’s lien that may now or at any time hereafter be provided by Applicable Law.
Lien on Personal Property. Landlord shall immediately have a lien upon all the personal property of Tenant moved into the premises, as and for security for the rent and other obligations of Tenant herein provided. In order to perfect and enforce said lien, Landlord may at any time after default in the payment of rent or default of other obligations, seize and take possession of any and all personal property belonging to Tenant which may be found in and upon the premises. If Tenant fails to redeem the personal property so seized, by payment of whatever sum may be due Landlord under and by virtue of the provisions of this Lease, then and in that event, Landlord shall have the right, after twenty (20) days written notice to Tenant of its intention to do so, to sell such personal property so seized at public or private sale and upon such terms and conditions as to Landlord may appear advantageous, and after the payment of all proper charges incident to such sale, apply the proceeds thereof to the payment of any balance due to Landlord on account of rent or other obligations of Tenant pursuant to this Lease. In the event there shall then remain in the hands of Landlord any balance realized from the sale of said personal property as aforesaid, the same shall be paid over to Tenant. The exercise of the foregoing remedy by Landlord shall not relieve or discharge Tenant from any deficiency owed to Landlord which Landlord has the right to enforce pursuant to any other provision of this Lease. SUBJECT TO THE PROVISIONS OF PARAGRAPH 37 BELOW.
Lien on Personal Property. 3.1 Tenant understands and agrees as a requirement and part of the consideration of this Lease that the Landlord shall have a first and prior lien paramount to all others on every right and interest of the Tenant in and to this Lease, upon any and all building or improvements on or hereafter placed on the Leased Premises, and on any furnishings, equipment, fixtures, or other personal property of any kind belonging to Tenant, or the equity of Tenant therein, located on the Leased Premises. Such lien is granted for the purpose of securing the payment of Rent, charges, liens, penalties, and damages herein covenanted to be paid by Tenant, and for the purpose of securing the performance of all of the Tenant’s obligations under this Lease. Such lien shall be in addition to all rights of Landlord given under law, which are now or shall hereinafter be in effect. Any Tenant IT equipment that contains or stores customer financial data is excluded from this Lien.
Lien on Personal Property. As security for all of Tenant’s obligations under this Lease, Tenant hereby grants to Landlord a Uniform Commercial Code Security interest in all of Tenant’s tangible and intangible personal property now or hereafter located upon the Premises. Landlord may enforce its security interest pursuant to any applicable law then in effect. Tenant shall, within five (5) days after request, execute any document, including financing statements, required by Landlord to perfect the security interest herein provided. The security interest provided herein shall be in addition to, and not in lieu of, any common law or statutory Landlord lieu provided under applicable law, and Landlord’s rights and remedies provided in this section shall be in addition to, and not in lieu of, any other rights and remedies available to Landlord pursuant to the terms of this Lease or pursuant to applicable law. Provided, however, that Landlord’s lien (i) shall be subordinate to any purchase money financing for the acquisition of such items as good, wares, equipment, fixtures and furniture used in the ordinary course of business, or to any blanket lien on Tenant’s assets granted by Tenant to secure Tenant’s obligations for credit extended to Tenant by an institutional lender, and (ii) shall be waived with respect to items leased by Tenant under bona fide lenses; Landlord shall execute such documents as Tenant may reasonably request to confirm the subordination and/or waiver of its security interest as provided herein.
Lien on Personal Property. Landlord shall have a lien upon all the personal property of Tenant moved into the Premises, as and for security for the rent and other Tenant obligations heretofore provided. In order to perfect and enforce said lien, Landlord may at any time after default in the payment of rent or default of other obligations, seize and take possession of any and all personal property belonging to Tenant which may be found in and upon the Premises. Should Tenant fail to redeem the property so seized, by payment of whatever sum may be due Landlord under and by virtue of the provisions of this Lease, then and in that event, Landlord shall have the right, after ten (10) days’ written notice to Tenant of its intention to do so, to sell such property so seized at public or private sale and upon such terms and conditions as to Landlord may appear advantageous, and after the payment of all property charges incident to such sale, apply the proceeds thereof to the payment of any balance due on account of rent or other obligations as aforesaid. In the event there shall then remain in the hands of Landlord any balance realized from the sale of said property, as aforesaid, the same may be retained by Landlord and applied against accruing rents or paid over to or for the account of Tenant.
Lien on Personal Property. Regardless of whether Tenant is in default under the Lease, Landlord waives all right of distraint, attachment, lien, levy, execution against and security interest, statutory or otherwise, on and in Tenant's personal property and trade fixtures and such property located in the Leased Premises for which Tenant acts as bailxx. Xxnant reserves the right to remove any such property from the Leased Premises at any time.
Lien on Personal Property. Landlord waives any statutory or common law lien which Landlord may have on the personal property of Tenant. Landlord shall provide reasonable written evidence of such waiver upon written request by Tenant and deliver lien waivers to lenders, lessors or suppliers in form reasonably acceptable to Landlord.
Lien on Personal Property. Tenant grants Landlord a lien on all Tenant’s furniture, fixtures, goods and chattels of Tenant which shall or may be brought or put on the Rented Property as security for the payment of the rent and Tenant’s performance of the terms of this Lease. Said lien may be enforced by distress proceedings at the election of the Landlord.
Lien on Personal Property. As security for the due payment by the Tenant of the Rent reserved hereunder whether now due, accruing due or to fall due at any time during the Term, and the performance by the Tenant of all covenants, agreements, provisoes and conditions of the Tenant to be performed hereunder, the Tenant hereby grants to the Landlord a first lien and charge on all of the personal property of the Tenant on, in or about the Premises. The Tenant confirms the first lien and charge granted pursuant to Section 15.09 of the Original Lease which provisions shall remain in full force and effect and shall continue to bind the Tenant in favour of the Landlord and its successors and assigns. All liens and charges hereinbefore provided shall constitute a security agreement within the meaning of the Personal Property Security Act (Ontario) or any like legislation in any other province in Canada and on default of the Tenant hereunder the Landlord shall have, in addition to any other rights and remedies it may be entitled to under this Lease or otherwise, all the rights and remedies of a secured party under the Personal Property Security Act. For greater clarity, the rights of the Landlord hereunder shall be in addition to and not in substitution for any other rights and remedies of the Landlord. Nothing contained herein shall prevent the Tenant from disposing of its inventory in the ordinary course of business and for the purpose of carrying on same. The provision of this Section 15.09 shall survive the expiration or earlier termination of this Lease. Provided that the Tenant is not in default hereunder, the Landlord shall execute its subordination of the Landlord's security hereby granted, in favour of security granted by the Tenant in the normal course of its business operations to facilitate the financing of the Tenant's equipment or the Tenant's business.
Lien on Personal Property. Landlord hereby agrees that its rights pursuant to this Lease shall be subordinate to the lien rights of any creditor of tenant on tenant personal property including the right of such creditor to remove tenant’s personal property from the leased premises in the event of Tenant’s default in payment to such creditor.
