No Leasehold Financing Sample Clauses
The "No Leasehold Financing" clause prohibits the tenant from using their leasehold interest as collateral for obtaining loans or other forms of financing. In practice, this means the tenant cannot mortgage, pledge, or otherwise encumber their rights under the lease to secure debt or raise capital. This restriction ensures that the landlord retains control over the property and avoids complications that could arise if a lender were to gain an interest in the lease, thereby protecting the landlord from potential disputes or claims by third-party financiers.
No Leasehold Financing. Tenant shall not encumber, pledge or mortgage the whole or any part of the Premises or this Lease, nor shall this Lease or any interest thereunder be assignable or transferable by operation of law or by any process or proceeding of any court or otherwise without the prior written consent of Landlord, which consent may be given or withheld in Landlord's sole discretion.
No Leasehold Financing. Notwithstanding anything to the contrary contained herein, Tenant shall not encumber, pledge or mortgage the whole or any part of the Premises or Tenant’s leasehold interest or title to the Premises (including any leasehold improvements, alterations, or additions thereto), nor shall this Lease or any interest thereunder be assignable or transferable by operation of law or by any process or proceeding of any court or otherwise without the prior written consent of Landlord. If Tenant obtains a debt facility which requires a grant of a security interest in all assets of Tenant, Landlord shall grant its consent to such security interest as it applies to Tenant’s personal property in the Premises, but not Tenant’s leasehold interest or any leasehold improvements, fixtures, alterations, additions, or improvements in the Premises. Landlord will execute a commercially reasonably form of consent provided that Tenant must pay all out-of-pocket costs incurred by Landlord including its legal fees and any fees payable to Landlord’s lender, if any.