Recharacterization. Landlord and Tenant intend this Lease to be a true lease. However, if despite the parties’ intent, it is determined or adjudged by a court for any reason that this Lease is not a true lease or if this Lease is recharacterized as a financing arrangement, then this Lease shall be considered a secured financing agreement and Landlord’s title to the Leased Property shall constitute a perfected first priority lien in Landlord’s favor on the Leased Property to secure the payment and performance of all the Obligor Group Obligations.
Appears in 6 contracts
Samples: Master Lease Agreement (LifeCare Holdings, Inc.), Master Lease Agreement (Capital Senior Living Corp), Lease Agreement (Emeritus Corp\wa\)
Recharacterization. Landlord and Tenant intend this Lease to be a true lease. However, if despite the parties’ intent, it is determined or adjudged by a court for any reason that this Lease is not a true lease or if this Lease is recharacterized as a financing arrangement, then this Lease shall be considered a secured financing agreement and Landlord’s title to the Leased Property shall constitute a perfected first priority lien in Landlord’s favor on the Leased Property to secure the payment and performance of all the Obligor Group Obligations.. [THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK]
Appears in 2 contracts
Samples: Master Lease Agreement (LifeCare Holdings, Inc.), Master Lease Agreement (LifeCare Holdings, Inc.)
Recharacterization. Landlord and Tenant intend this Lease to be a true lease. However, if despite the parties’ ' intent, it is determined or adjudged by a court for any reason that this Lease is not a true lease or if this Lease is recharacterized as a financing arrangement, then this Lease shall be considered a secured financing agreement and Landlord’s 's title to the Leased Property shall constitute a perfected first priority lien in Landlord’s 's favor on the Leased Property to secure the payment and performance of all the Obligor Group Obligationsobligations of Tenant to Landlord.
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Recharacterization. Landlord and Tenant intend this Lease to be a true lease. However, if despite the parties’ ' intent, it is determined or adjudged by a court for any reason that this Lease is not a true lease or if this Lease is recharacterized as a financing arrangement, then this Lease shall be considered a secured financing agreement and Landlord’s 's title to the Leased Property shall constitute a perfected first priority lien in Landlord’s 's favor on the Leased Property to secure the payment and performance of all the Obligor Group Obligations.
Appears in 1 contract
Recharacterization. Landlord and Tenant intend this Lease to be a true lease. However, if despite the parties’ intent, it is determined or adjudged by a court for any reason that this Lease is not a true lease or if this Lease is recharacterized as a financing arrangement, then this Lease shall be considered a secured financing agreement and Landlord’s title to the Leased Property shall constitute a perfected first priority lien in Landlord’s favor on the Leased Property to secure the payment and performance of all the Obligor Group Secured Obligations.
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Recharacterization. Landlord and Tenant intend this Lease to be a true lease. However, if despite the parties’ ' intent, it is determined or adjudged by a court for any reason that this Lease is not a true lease or if this Lease is recharacterized as a financing arrangement, then this Lease shall be considered a secured financing agreement and Landlord’s 's title to the Leased Property shall constitute a perfected first priority lien in Landlord’s 's favor on the Leased Property to secure the payment and performance of all the Obligor Group BCC Obligations.
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Recharacterization. Landlord and Tenant intend this Lease to be a true ------------------- lease. However, if despite the parties’ ' intent, it is determined or adjudged by a court for any reason that this Lease is not a true lease or if this Lease is recharacterized as a financing arrangement, then this Lease shall be considered a secured financing agreement and Landlord’s 's title to the Leased Property shall constitute a perfected first priority lien in Landlord’s 's favor on the Leased Property to secure the payment and performance of all the Obligor Group Obligationsobligations of Tenant hereunder.
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