Personal Property Lien Sample Clauses

A Personal Property Lien clause establishes the right of one party, typically a lender or landlord, to claim a security interest in the personal property of another party as collateral for a debt or obligation. In practice, this means that if the debtor defaults on payment or fails to meet certain obligations, the lienholder can seize or sell the specified personal property—such as equipment, inventory, or furnishings—to recover the owed amount. This clause serves to protect the interests of the party extending credit or leasing property by providing a legal mechanism to secure repayment or performance.
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Personal Property Lien. Tenant hereby grants to landlord a lien on and security interest in all of Tenant's personal property and fixtures (and proceeds thereof) now or hereinafter located in the leased premises or the improvements on the leased premises for the payment of all rentals, charges and expenses due or to become due pursuant hereto, except for those items leased by Tenant from third parties. Said lien shall attach to such property only in the event of Tenant's default, and said lien shall continue unless the default is cured with 30 days following default. Tenant hereby specifically waives any and all exemptions to such lien allowable by law. Upon default of Tenant in the payment of any rental expenses or other charge due under the terms hereof, Landlord may take possession of any or all of the said personal property and fixtures either to its own use or for the purpose of selling said property at a public or private sale, and out of the money derived from such sale Landlord shall pay the amount due Landlord for the said rent expenses and charges and all costs growing out of the enforcement of this lien, including reasonable attorneys' fees, paying the surplus, if any, to Tenant. If the property or any portion thereof is offered for sale, Landlord may become the purchaser of the property.
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Personal Property Lien. Intentionally Deleted.
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Personal Property Lien. As material consideration for ▇▇▇▇▇▇▇▇'s entering into this Lease, Tenant hereby grants to Landlord a security interest for all amounts due from Tenant under this Lease upon all personal property of Tenant located on or about the Premises. Any such property shall not be removed (except in the ordinary course of Tenant's business) without the prior written consent of Landlord, until such time as all amounts due to Landlord under this Lese shall have been paid in full. Upon the occurrence of any Event of Default by Tenant hereunder, Landlord shall have the option, in addition to any other rights or remedies it may have, to enter the Premises and take possession of any such personal property of Tenant and to sell the same at public or private sale in accordance with applicable provisions of the California Uniform Commercial Code, at which sale Landlord or its assigns may purchase such property and apply the proceeds, less expenses of taking possession and sale, as a credit against any sums due by Tenant to Landlord hereunder. Any surplus remaining after such sale shall be paid to Tenant. Simultaneously with the execution of this Lease, or at such other time as Landlord may request, Tenant shall execute a UCC-1 Financing Statement in form suitable for filing with the California Secretary of State (or such other filing offices as Landlord may deem appropriate).
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Personal Property Lien. Tenant grants management a lien and security interest on all personal property stored in the leased space for rent and other charges related to the personal property, including expenses necessary to the preservation, removal, storage and preparation for sale and the sale of the personal property. Management may satisfy the lien by selling the personal property as provided for in section 704.90
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Personal Property Lien. Policy Studies Inc. (the “Borrower”) has entered into a Credit and Security Agreement with Key Bank National Association (the “Lender”) under which the Lender holds a first priority security interest in all of the Borrower’s personal property of every kind and nature including without limitation all inventory, accounts, equipment, general intangibles, instruments, documents, and investment property of the Borrower, whether now owned or hereafter acquired, all together with all substitutions and replacements for and products and proceeds thereof (the “Collateral”). The interests of the Landlord under the lease, if any, in the personal property of the Borrower are subject to the Lender’s prior interest in the Collateral under the Credit Agreement. Landlord’s obligations to the Lender with respect to the Collateral on the Premises under the lease are not greater than the Landlord’s obligation to the Borrower with respect to the Collateral under the terms of the Lease. Under no circumstances shall the term “Collateral” be deemed to include any leasehold improvements, including, without limitation, light fixtures, floor coverings, plumbing, HVAC, and other similar items.
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Personal Property Lien. Landlord is hereby granted a lien on all personal property which Tenant(s) have on the Premises for the value of all rents, additional rents, and any other charges and fees due hereunder, including all court costs, expenses and attorney’s fees, whether said attorney’s fees are incurred pre-suit, during suit, or post-judgment. Landlord shall not be liable for trespass or conversion in asserting such lien, and Tenant(s) hereby grant Landlord permission to enter the Premises without notice, whether Tenant(s) have vacated or not, to remove and assert dominion over items of Tenant’s personal property located therein. Landlord may remove all such personal property even if the value thereof exceeds the amount owed, without being liable for damages. Landlord shall not be considered a voluntary or involuntary bailee of any personal property which is held pursuant to Landlord’s lien, and which Landlord has thereafter stored, and Landlord shall not be liable for any damages to such personal property unless caused by gross negligence on Landlord’s part. All storage or other holding costs incurred by Landlord as a result of asserting the Landlord’s lien shall be the responsibility of the Tenant(s) and shall be due as additional rent.
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Personal Property Lien. HOLDING OVER ------------
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Related to Personal Property Lien

  • Personal Property In addition to the real property described in Section II, the Seller shall include the following personal property:

  • 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.

  • 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.

  • Personal Property Collateral The Administrative Agent shall have received, in form and substance satisfactory to the Administrative Agent: (i) (A) searches of UCC filings in the jurisdiction of incorporation or formation, as applicable, of each Loan Party and each jurisdiction where any Collateral is located or where a filing would need to be made in order to perfect the Collateral Agent’s security interest in the Collateral, copies of the financing statements on file in such jurisdictions and evidence that no Liens exist other than Permitted Liens and (B) tax lien, judgment and bankruptcy searches; (ii) searches of ownership of Intellectual Property in the appropriate governmental offices and such patent/trademark/copyright filings as requested by the Administrative Agent in order to perfect the Collateral Agent’s security interest in the Intellectual Property (and certain of which searches may be provided after the Closing Date as determined by the Administrative Agent); (iii) completed UCC financing statements for each appropriate jurisdiction as is necessary, in the Collateral Agent’s sole discretion, to perfect the Administrative Agent’s security interest in the Collateral; (iv) stock or membership certificates, if any, evidencing the Pledged Collateral and undated stock or transfer powers duly executed in blank; in each case to the extent such Pledged Collateral is certificated; (v) in the case of any personal property Collateral located at premises leased by a Loan Party and set forth on Schedule 5.21(g), such estoppel letters, consents and waivers from the landlords of such real property to the extent required to be delivered in connection with Section 6.14 (such letters, consents and waivers shall be in form and substance satisfactory to the Administrative Agent, it being acknowledged and agreed that any Landlord Waiver is satisfactory to the Administrative Agent); (vi) to the extent required to be delivered, filed, registered or recorded pursuant to the terms and conditions of the Collateral Documents, all instruments, documents and chattel paper in the possession of any of the Loan Parties, together with allonges or assignments as may be necessary or appropriate to create and perfect the Administrative Agent’s and the Lenders’ security interest in the Collateral; and (vii) Qualifying Control Agreements satisfactory to the Administrative Agent to the extent required to be delivered pursuant to Section 6.14.

  • 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 any agreement 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 agreement (the “Company Leases”) pursuant to which any of the Acquired Corporations leases real property from any other Person. (All real property leased to the Acquired Corporations, including all buildings, structures, fixtures and other improvements leased to the Acquired Corporations, are 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 leases (to which they are parties) relating to the Leased Real Property, and all such 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 accurate and complete copies of all leases, subleases or other material agreements pursuant to which any of the Acquired Corporations leases real property from any other Person. To the knowledge of the Company, no Acquired Corporation is party to any Contract or 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.