MOVEABLE HYPOTHEC Sample Clauses

MOVEABLE HYPOTHEC. As continuing and collateral security for the due and punctual performance of Tenant’s obligations under this Lease, the Tenant hypothecates in favour of Landlord, for a sum equal to the Net Rent and the Additional Rent payable by the Tenant during a two-year period under the Term of the Lease and interest thereon at the Prime Rate plus two percent (2%), calculated semi-annually and not in advance, a universality consisting of all moveable improvements, equipment, machinery, furniture, and fixtures of every kind now or hereafter located in, on or upon the Premises, including all indemnities or proceeds paid or payable to Tenant under insurance policies pertaining to or covering such movables. The hypothec herein created does not constitute a floating hypothec under Article 2715 of the Civil Code of Québec. Upon the occurrence of an event of default, the security hereby constituted shall become enforceable and Landlord shall be entitled to immediately exercise any and all rights arising from such hypothec without any notice or delay except as may be required by law. The hypothec referred to in this Section 20.21 shall constitute a first ranking charge on all the assets charged thereunder. However, should Tenant obtain a bona fide financing for the operation of its business in the Premises from a person acting at arm’s length with Tenant and the persons who control, directly or indirectly, Tenant (the “Tenant’s Lender”), Landlord shall execute, at Tenant’s cost, a subordination agreement in favour of Tenant’s Lender in a form and substance satisfactory to Landlord and its legal counsel, acting reasonably, provided that Tenant is not then in default and provided further that the security granted to Tenant’s Lender shall not affect any asset which is or may become, under the terms of this Lease, the property of Landlord. The Tenant covenants with Landlord to furnish the Premises with and maintain therein a sufficient quantity of furniture, fixtures and other moveable effects to secure the payment of twelve (12) months’ rent. The said furniture, fixtures and other effects shall at all times be and remain the absolute and exclusive property of Tenant free and clear of any privileges, liens, charges or encumbrances save for those in favor of Landlord. The Tenant undertakes to execute, in favour of the Landlord and upon its request, a first ranking moveable hypothec of a value sufficient to secure the payment of twelve (12) months Rent, and to execute and sign pro...
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MOVEABLE HYPOTHEC. The Lessee hereby grants to the Lessor as security for the payment of rental and of all other sums for which the Lessee is responsible whether or not under the terms of the Lease and the complete fulfilment of all of the Lessee’s obligations, a first second ranking moveable hypothec, after any recognized financial institution, on the universality of all movables located in the Premises and belonging to the Lessee, for an amount equivalent to one (1) year six (6) months of Rent or Seventy-two Thousand Three Hundred and Fifty Dollars ($72,350.00). All related costs for such preparation, registration and proceeding instituted in consequence or reliance thereof shall be borne entirely by the Lessee. The Lessor hereby agrees that it shall cede rank in favour of any recognized financial institution.
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MOVEABLE HYPOTHEC. The Tenant agrees to grant to the Landlord a moveable hypothec in the form annexed hereto as Schedule "D".
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MOVEABLE HYPOTHEC. 22.3.1 As continuing and collateral security for the due and punctual payment of Minimum Rent, Additional Rent and all other amounts now owing or which may hereafter become owing to the Lessor by the Lessee under this Lease, as same may be amended, renewed, extended or supplemented, and as continuing and collateral security for the due and punctual performance and fulfilment of all other obligations, covenants and agreements of the Lessee contained in this Lease, as same may be amended, renewed, extended or supplemented (all of said Minimum Rent and other amounts and the said other obligations, covenants and agreements being hereinafter collectively referred to as the “Indebtedness”), the Lessee hereby hypothecates in favour of the Lessor, with effect as of and from this date, for the sum of one hundred thousand dollars ($100,000.00) and interest thereon at the rate of interest per annum that is six (6) percentage points more than the prime rate of interest of the Bank of Montreal, calculated semi-annually, not in advance, all of the rights, title and interests of the Lessee in and to the following universalities (hereinafter referred to as the “Universalities”): i. the universality of all moveable improvements, equipment, machinery, furniture and trade fixtures of every kind, present and future, located in, on or upon the Premises or used directly or indirectly in connection with the business of the Lessee carried on at the Premises, including all indemnities or proceeds paid under insurance contracts or policies pertaining to or covering such moveables; and ii. the universality of all property in stock, raw material, work in process and inventory, present and future, situated in, on or upon the Premises or used directly or indirectly in connection with the business of the Lessee carried on at the Premises, including all indemnities or proceeds paid under insurance contracts or policies pertaining to or covering such moveables. 22.3.2 The hypothec herein created in favour of the Lessor shall not constitute nor be construed as a floating hypothec under article 2715 of the Civil Code of Quebec. 22.3.3 The security hereby created is without delivery and shall, subject to articles 2673, 2674 and 2734 of the Civil Code of Quebec, not prevent the Lessee at any time and from time to time, until an event of default has occurred under this Lease and the security hereby constituted shall become enforceable, from selling, leasing or otherwise disposing of or dealing...
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MOVEABLE HYPOTHEC. As security for any amounts owing by the Reseller to Xxxxxx and for all other obligations of the Reseller toward Xxxxxx under this Agreement, or under any other present or future agreement entered into between Reseller and Xxxxxx, the Reseller hereby grants to Xxxxxx a moveable hypothec on the universality of all the undertakings, properties and assets which the Reseller owns or has an interest in whether such ownership or interest exists at any time thereafter and said hypothec shall extend to all proceeds arising therefrom. The present moveable hypothec is granted for a maximum amount of FIVE HUNDRED THOUSAND DOLLARS ($500,000.
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MOVEABLE HYPOTHEC. The Lessee hereby grants to the Lessor as security for the payment of rental and of all other sums for which the Lessee is responsible whether or not under the terms of the Lease and the complete fulfilment of all of the Lessee's obligations, a first ranking moveable hypothec on the universality of all movables located in the Premises and belonging to the Lessee, for an amount equivalent to one (1) year of Rent or Forty-one Thousand Nine Hundred Thirty-five Dollars ($41,935.00). All related costs for such preparation, registration and proceeding instituted in consequence or reliance thereof shall be borne entirely by the Lessee.
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MOVEABLE HYPOTHEC. In order to guarantee the full and proper performance of all of the obligations to be performed by Tenant under this Lease, Tenant hereby undertakes to execute in favour of Landlord simultaneously with these presents, a deed of moveable hypothec, which said hypothec, subject to the treatment set forth in the Landlord Agreements attached herewith or any other agreement entered into in connection with a Subsequent Financing, shall rank ahead of all other hypothecs or rights of any nature of any and all other creditors, on the universality of the moveable property of Tenant, present or future, corporeal or non-corporeal, situated in or near the Leased Premises in the Building, or with respect to the operation of business of Tenant in the Leased Premises, which said hypothec shall be a continuing guarantee by Tenant in favour of Landlord in order to secure Minimum Net Net Rental and Additional Rental throughout the term of this Lease and any renewal period thereof. The said deed of moveable hypothec to be executed by Tenant shall be that document hereto attached as Schedule "F".
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MOVEABLE HYPOTHEC. In order to guarantee the full and proper performance of all of the obligations to be performed by Tenant under this Lease, Tenant hereby undertakes to execute in favour of Landlord simultaneously with these presents, a deed of moveable hypothec, subject to the treatment set forth in the Landlord Agreements or any other agreement entered into in connection with a subsequent financing, which said hypothec shall rank ahead of all other hypothecs or rights of any nature of any and all other creditors, on the universality of the moveable property of Tenant, present or future, corporeal or non-corporeal, situated in or near the Leased Premises in the Building, or with respect to the [ILLEGIBLE]
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MOVEABLE HYPOTHEC. In order to guarantee the full and proper performance of all of the obligations to be performed by Tenant under this Lease, Tenant hereby undertakes to execute in favour of Landlord simultaneously with these presents, a deed of moveable hypothec, which said hypothec, subject to the treatment set forth in the Landlord Agreements attached herewith or any other agreement entered in connection with a Subsequent Financing subject shall rank ahead of all other hypothecs or rights of any nature of any and all other creditors, on the universality of the moveable property of Tenant, present or future, corporeal or non-corporeal, situated in or near the Leased Premises in the Building, or with respect to the operation of business of Tenant in the Leased Premises, which said hypothec shall be a continuing guarantee by Tenant in favour of Landlord in order to [ILLEGIBLE]
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Related to MOVEABLE HYPOTHEC

  • Personal Property Securities Act The Customer acknowledges that under the Contract the Customer grants a Security Interest(s) to the Company, including but not limited to, the lien in Clause 6. The Customer acknowledges that the Contract constitutes a Security Agreement for the purposes of the PPS Act. The Guarantor acknowledges that under the Guarantee the Guarantor grants a Security Interest(s) to the Company, including (without limitation) a charge over all its property. The Guarantor acknowledges that the Guarantee constitutes a Security Agreement for the purposes of the PPS Act. If there is a Security Interest in favour of the Customer or the Guarantor and the Customer or the Guarantor proposes to register the Security Interest under the PPS Act, the Customer or the Guarantor (as applicable) must give the Company written notice prior to the registration that the Customer or the Guarantor (as applicable) proposes to register the Security Interest. The Customer and the Guarantor will do anything reasonably required by the Company to enable the Company to register its Security Interests, with the priority the Company requires, and to maintain the registration. The Security Interests arising under the Contract or the Guarantee attach to the Collateral in accordance with section 19(2) of the PPS Act and the parties confirm that they have not agreed that any Security Interest arising under the Contract or the Guarantee attaches at any later time. The Customer and the Guarantor each acknowledge that the Company may perfect its Security Interests by lodging a Financing Statement on the Personal Property Securities Register. To the extent that any of the enforcement provisions of Chapter 4 of the PPS Act apply to the Security Interests created under or referred to in the Contract or the Guarantee, the following provisions of the PPS Act will not apply: (i) section 95 (notice of removal of accession), to the extent that it requires the secured party to give a notice to the grantor; (ii) subsection 121(4) (enforcement of liquid assets – notice to grantor); (iii) section 130 (notice of disposal), to the extent that it requires the secured party to give the grantor a notice; (iv) paragraph 132(3)(d) (contents of statement of account after disposal); (v) subsection 132(4) (statement of account if no disposal); (vi) section 135 (notice of retention); (vii) section 142 (redemption of collateral); and (viii) section 143 (reinstatement of security agreement). The Company does not need to give the Customer or the Guarantor any notice under the PPS Act (including a notice of a Verification Statement) unless the notice is required by the PPS Act and that requirement cannot be excluded. The parties agree that neither party will disclose to an “interested person” (as defined in section 275(9) of the PPS Act) or any other person, any information of the kind described in section 275(1) of the PPS Act. The Customer and the Guarantor will not authorise the disclosure of any information of the kind described in section 275(1) of the PPS Act.

  • Personal Property Leases Except as set forth in Schedule 3.13.(b), Company has no leases of personal property involving consideration or other expenditure in excess of $5,000 or involving performance over a period of more than three months.

  • Real Property; Personal Property (a) On the Disaffiliation Date, Local Church will have full title and ownership of the Real Property and Personal Property. The parties shall ensure all necessary transfers or other transactions relating to the above properties are completed on or prior to the Disaffiliation Date. Any costs resulting from such transfers or other transactions shall be borne by Local Church. Annual Conference shall fully cooperate with Local Church, as needed and applicable, to ensure that such transfers and other transactions convey all of Annual Conference’s interest – both for itself and on behalf of The United Methodist Church – in the Real Property and Personal Property, both tangible and intangible, of Local Church. (b) At Closing, the Annual Conference shall deliver to the Local Church: (i) the Deed(s) quitclaiming and releasing all interest of the Annual Conference in the Real Property to the Local Church; (ii) the Bill of Sale conveying all the interest of the Annual Conference in the Personal Property to the Local Church; and, (iii) a FIRPTA certificate.

  • Intellectual Property Security Agreements Duly executed originals of Trademark Security Agreements, Copyright Security Agreements and Patent Security Agreements, each dated the Closing Date and signed by each Credit Party which owns Trademarks, Copyrights and/or Patents, as applicable, all in form and substance reasonably satisfactory to Agent, together with all instruments, documents and agreements executed pursuant thereto.

  • Real Property; Leasehold (a) No Acquired Corporation owns any, nor has any Acquired Corporation ever owned any, real property, nor is any Acquired Corporation party to, or bound by, any Contract to purchase or sell any real property. (b) Part 3.8(b) of the Disclosure Schedule sets forth a list of each lease, sublease or other Contract pursuant to which any of the Acquired Corporations leases real property from any other Person (such leases, subleases or other Contracts required to be listed thereon, the “Company Leases”). (All real property leased to the Acquired Corporations, including all buildings, structures, fixtures and other improvements leased to the Acquired Corporations, is referred to as the “Leased Real Property”). The present use and operation of the Leased Real Property is authorized by, and is in compliance in all material respects with, all applicable zoning, land use, building, fire, health, labor, safety and Environmental Laws and other Legal Requirements. There is no Legal Proceeding pending, or, to the knowledge of the Company, threatened, that challenges or adversely affects, or would challenge or adversely affect, the continuation of the present ownership, use or operation of any Leased Real Property. To the knowledge of the Company, there is no existing plan or study by any Governmental Body or by any other Person that challenges or otherwise adversely affects the continuation of the present ownership, use or operation of any Leased Real Property. There are no subleases, licenses, occupancy agreements or other contractual obligations that grant the right of use or occupancy of any of the Leased Real Property to any Person other than the Acquired Corporations, and there is no Person in possession of any of the Leased Real Property other than the Acquired Corporations. Each of the Acquired Corporations has complied in all material respects with the terms of all Company Leases relating to the Leased Real Property, and all such Company Leases are in full force and effect in all material respects. To the knowledge of the Company, the Leased Real Property is in good operating condition and repair. The Company has Made Available to Parent true, correct and complete copies of all Company Leases. No Acquired Corporation is party to any Contract or, to the knowledge of the Company, subject to any claim that may require the payment of any real estate brokerage commissions, and no commission is owed with respect to any of the Leased Real Property. The Leased Real Property constitutes all real property used in or necessary to conduct the business of each Acquired Corporation as currently being conducted.

  • Real Property Interests (a) The Owner has provided, or upon execution of this Agreement shall promptly provide to the Developer, documentation acceptable to the Department indicating any right, title or interest in real property claimed by the Owner with respect to the Owner Utilities in their existing location(s). Such claims are subject to the Department’s approval as part of its review of the Utility Assembly as described in Paragraph 2. Claims approved by the Department as to rights or interests are referred to herein as “Existing Interests”. (b) If acquisition of any new easement or other interest in real property (“New Interest”) is necessary for the Adjustment of any Owner Utilities, then the Owner shall be responsible for undertaking such acquisition. The Owner shall implement each acquisition hereunder expeditiously so that related Adjustment construction can proceed in accordance with the Developer’s Project schedules. The Developer shall be responsible for the actual and reasonable acquisition costs of any such New Interest (including without limitation the Owner’s reasonable overhead charges and legal costs as well as compensation paid to the landowner), excluding any costs attributable to Betterment as described in Paragraph 16(c), and subject to the provisions of Paragraph 16(e); provided, however, that all acquisition costs shall be subject to the Developer’s prior written approval. Eligible acquisition costs shall be segregated from other costs on the Owner's estimates and invoices. Any such New Interest shall have a written valuation and shall be acquired in accordance with applicable law. (c) A New Interest shall be substantially equivalent (e.g., in width and type) to the Existing Interest being replaced, unless a New Interest exceeding such standard (i) is required in order to accommodate the Project or by compliance with applicable law, or (ii) is called for by the Developer in the interest of overall Project economy. Any New Interest that does not meet the requirements of the preceding sentence shall be considered a Betterment to the extent that it upgrades the Existing Interest which it replaces, or in its entirety if the related Owner Utility was not installed pursuant to an Existing Interest. Betterment costs shall be solely the Owner’s responsibility. (d) For each Existing Interest located within the final Project right of way, upon completion of the related Adjustment work and its acceptance by the Owner, the Owner agrees to execute a quitclaim deed or other appropriate documentation relinquishing such Existing Interest to the Department, unless the affected Owner Utility is remaining in its original location or is being reinstalled in a new location within the area subject to such Existing Interest. All quitclaim deeds or other relinquishment documents shall be subject to the Department's approval as part of its review of the Utility Assembly as described in Paragraph 2. For each such Existing Interest relinquished by the Owner, the Developer shall do one of the following to compensate the Owner for such Existing Interest, as appropriate: (i) If the Owner acquires a New Interest for the affected Owner Utility, the Developer shall reimburse the Owner for its actual and reasonable acquisition costs in accordance with Paragraph 16(b); or (ii) If the Owner does not acquire a New Interest for the affected Owner Utility, the Developer shall compensate the Owner for the fair market value of such relinquished Existing Interest, as mutually agreed between the Owner and the Developer and supported by a written valuation. The compensation provided to the Owner pursuant to either subparagraph (i) or subparagraph (ii) above shall constitute complete compensation to the Owner for the relinquished Existing Interest, and no further compensation shall be due to the Owner from either the Developer or the Department on account of such Existing Interest. (e) The Owner shall execute a Utility Joint Use Acknowledgment (TxDOT-U-80A) for each Adjusted Owner Utility where required pursuant to TxDOT policies. All Utility Joint Use Acknowledgments shall be subject to TxDOT approval as part of its review of the Utility Assembly as described in Paragraph 2.

  • Real Estate and Personal Property Taxes A. Except as specifically set forth in Section 4.07.B below, all real estate and personal property taxes, levies, assessments (including special assessments (regardless of when due or whether they are paid as a lump sum or in installments over time) imposed because of facilities that are constructed by or on behalf of the assessing jurisdiction (for example, roads, sidewalks, sewers, culverts, etc.) which directly benefit the Hotel (regardless of whether or not they also benefit other buildings)), “Impact Fees” (regardless of when due or whether they are paid as a lump sum or in installments over time) which are required of Owner as a condition to the issuance of zoning variances or building permits, and similar charges on or relating to the Hotel (collectively, “Impositions”) during the Term shall be paid by Manager from Gross Revenues, before any fine, penalty, or interest is added thereto or lien placed upon the Hotel or upon this Agreement, unless payment thereof is in good faith being contested and enforcement thereof is stayed. Any such payments shall be Deductions in determining Operating Profit. Owner shall, within five (5) days after receipt, furnish Manager with copies of official tax bills and assessments which it may receive with respect to the Hotel. Either Landlord or Owner may, and at Owner’s request Manager shall, initiate proceedings to contest any negotiations or proceedings with respect to any Imposition, and all reasonable costs of any such contest shall be paid from Gross Revenues and shall be a Deduction in determining Operating Profit. Manager shall, as part of its contest or negotiation of any Imposition, be entitled, on Owner’s behalf, to waive any applicable statute of limitations in order to avoid paying the Imposition during the pendency of any proceedings or negotiations with applicable authorities. Notwithstanding anything contained herein to the contrary, at Owner’s option (i) Manager shall establish an escrow account in the name of Owner in a bank or banks designated by Manager with the concurrence of Owner and shall deposit monthly into such account from Gross Revenues an amount that Manager reasonably estimates shall be sufficient to pay the Impositions, in which case Manager shall pay the Impositions from funds in the escrow account as and when the Impositions become due (and Owner shall promptly deposit into the escrow account any deficiency if the estimated monthly payments are not sufficient to pay all of the Impositions) or (ii) the amounts that would otherwise be deposited into such escrow account shall be included in the Operating Profit, not deducted from Gross Revenues and shall be distributed in cash to Owner along with the remainder of the Owner’s Priority. If Owner elects to retain such amounts pursuant to clause (ii) above, Manager shall accrue such amounts as a reserve on the accounting records of the Hotel, and Owner shall fund the same as and when the Impositions become due, but such accrued and unfunded amounts shall be deducted from Gross Revenues for purposes of calculating the Incentive Management Fee. In addition, if any Mortgagee requires the establishment of an escrow account with respect to the Impositions, Manager shall comply with such requirements.

  • Real Property Leases CLAUSE 2.13 of the Disclosure Schedule lists -------------------- and describes briefly all real property leased or subleased to the Company and lists the term of such lease, any extension and expansion options, and the rent payable thereunder. The Company has delivered to the Buyer true, correct and complete copies of the leases and subleases (as amended to date) listed in CLAUSE 2.13 of the Disclosure Schedule. The Company is not party to, or otherwise obliged with respect to, any lease or sublease for facilities, which are not occupied by the Company. With respect to each lease and sublease listed in CLAUSE 2.13 of the Disclosure Schedule: (a) the lease or sublease is legal, valid, binding, enforceable and in full force and effect; (b) there is no reason which would impair the lease or sublease to continue to be legal, valid, binding, enforceable and in full force and effect immediately following the Closing in accordance with the terms thereof as in effect prior to the Closing; (c) the Company is not in breach or default, and no event has occurred which, with notice or lapse of time, would constitute a breach or default or permit termination, modification, or acceleration thereunder; (d) there are no disputes, oral agreements or forbearance programs in effect as to the lease or sublease; (e) the Company has not assigned, transferred, conveyed, mortgaged, deeded in trust or encumbered any interest in the leasehold or subleasehold; (f) all facilities leased or subleased thereunder are supplied with utilities and other services necessary for the operation of said facilities in the manner in which such facilities are currently operated and as presently contemplated by the Company; and (g) the owner of the facility leased or subleased, has stated that, it has good and clear record and marketable title to the parcel of real property, free and clear of any Security Interest, easement, covenant or other restriction, that would interfere in any material respect with the Company's operations thereon, and there have been no actions to believe the contrary.

  • Perfected Security Interest On the Closing Date, after giving effect to the filing of the FAA Filed Documents and the Financing Statements, Mortgagee shall have received a duly perfected first priority security interest in all of Owner's right, title and interest in the Aircraft, subject only to Permitted Liens.

  • Perfected Security Interests (a) As of the Closing Date (or such later date as permitted under Section 5.14) and as of the date of each Borrowing, the Security Documents, taken as a whole, are effective to create in favor of the Collateral Agent for the benefit of the Secured Parties a legal, valid and enforceable first priority security interest in all of the Collateral to the extent purported to be created thereby. (b) As of the Closing Date (or such later date as permitted under Section 5.14) and as of the date of each Borrowing, each Credit Party has or shall have satisfied the Perfection Requirement with respect to the Collateral.

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