Manager's Property. The trade fixtures and equipment, signs, appliances, furniture and other personal property of any nature installed or located in the Stadium Facility prior to the Commencement Date or at any time thereafter by Manager, if installed (all of the foregoing being collectively referred to in this Agreement as ("Manager's Property"), shall not become a part of the realty and Manager shall retain ownership thereof. Manager's Property may be removed from the Stadium Facility by Manager at any time during the Term of this Agreement or upon the termination of the Term of this Agreement. Manager may grant to its lender(s) a security interest or other lien in, or enter into, an equipment Agreement for Manager's Property and Owner will permit Manager's lender(s) or lessor(s) reasonable access to the Stadium Facility to inspect Manager's Property or to remove Manager's Property in connection with any action to enforce such security interest, Agreement or other lien. Except for entering into equipment leases or security agreements for acquisitions of personal property in the ordinary course of business, Manager, however, shall not make a general pledge of Manager's Property as collateral for any loan without first obtaining Owner's written consent, which shall not be unreasonably withheld, conditioned or delayed. (and Owner agrees to execute any reasonable document required by Manager’s lender(s) or lessor(s) to provide for such rights).
Appears in 2 contracts
Samples: Management Agreement, Management Agreement
Manager's Property. The trade fixtures and equipment, signs, appliances, furniture and other personal property of any nature installed or located in the Stadium Facility prior to the Commencement Date or at any time thereafter by Manager, including without limitation, those listed on Exhibit B-1, if installed (all of the foregoing being collectively referred to in this Agreement as ("Manager's Property"), shall not become a part of the realty and Manager shall retain ownership thereofrealty. Manager's Property may be removed from the Stadium Facility by Manager at any time during the Term of this Agreement or upon the termination of the Term of this Agreement. Manager may grant to its lender(s) a security interest or other lien in, or enter into, an equipment Agreement for Manager's Property and Owner will permit Manager's lender(s) or lessor(s) reasonable access to the Stadium Facility to inspect Manager's Property or to remove Manager's Property in connection with any action to enforce such security interest, Agreement or other lien. Except for entering into equipment leases or security agreements for acquisitions of personal property in the ordinary course of business, Manager, however, shall not make a general pledge of Manager's Property as collateral for any loan without first obtaining Owner's written consent, which shall not be unreasonably withheld, conditioned or delayed. (and Owner agrees to execute any reasonable document required by Manager’s lender(s) or lessor(s) to provide for such rights).
Appears in 1 contract
Samples: Management Agreement
Manager's Property. The trade fixtures and equipment, signs, appliances, furniture and other personal property of any nature installed or located in the Stadium Facility by Manager and at Manager’s expense, on or prior to the Commencement Date or at any time thereafter by Manager, including without limitation, those listed on Exhibit B-1, if installed (all of the foregoing being collectively referred to in this Agreement as ("Manager's Property"), shall not become a part of the realty and Manager shall retain ownership thereofrealty. Manager's Property may be removed from the Stadium Facility by Manager at any time during the Term of this Agreement or upon the termination of the Term of this Agreement. Manager may grant to its lender(s) a security interest or other lien in, or enter into, an equipment Agreement for Manager's Property and Owner will permit Manager's lender(s) or lessor(s) reasonable access to the Stadium Facility to inspect Manager's Property or to remove Manager's Property in connection with any action to enforce such security interest, Agreement or other lien. Except for entering into equipment leases or security agreements for acquisitions of personal property in the ordinary course of business, Manager, however, shall not make a general pledge of Manager's Property as collateral for any loan without first obtaining Owner's written consent, which shall not be unreasonably withheld, conditioned or delayed. (and Owner agrees to execute any reasonable document required by Manager’s lender(s) or lessor(s) to provide for such rights).
Appears in 1 contract
Samples: Management Agreement