Security for Payment of Rent Sample Clauses

Security for Payment of Rent. As security for the payment of all rent payable to the Sub-Lessor in accordance with the terms and provisions of this Sub-Lease, the Sub-Lessee hereby assigns and grants unto the Sub-Lessor security interest in all of the Sub-Lessee’s real and personal property, present and after acquired, including the proceeds therefrom, and agrees that the Sub-Lessor may seize and sell such property of the Sub-Lessee as may be necessary to satisfy the amount of rent payable.
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Security for Payment of Rent. Tenant hereby pledges and assigns to Landlord all the furniture, fixtures, goods and chattels of Tenant which shall or may be brought or put on the premises as security for payment of the rent. Tenant agrees that such lien may be enforced by such legal proceedings as may be necessary at the election of Landlord, provided, however, Landlord shall not have a lien which would be superior to a lien from a lending institution, supplier or leasing company, if such lending institution, supplier or leasing company has a perfected security interest in the equipment, furniture or other tangible personal property and which security interest has its origin in a transaction whereby Tenant acquired such equipment, furniture or other tangible personal property.
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Security for Payment of Rent. Section 4.1 Covenant. Section 4.2 Base Rent.
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Security for Payment of Rent. As security for the payment of all rent payable to the Lessor in accordance with the terms and provisions of this Lease, the Lessee hereby assigns and grants unto the Lessor security interest in all of the Lessee's real and personal property, present and after acquired, including the proceeds therefrom, and agrees that the Lessor may seize and sell such property of the Lessee as may be necessary to satisfy the amount of rent payable.
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Security for Payment of Rent. (a) As security for its obligation to pay Rent and to perform its other agreements and obligations as set forth herein, the Tenant shall provide to the Landlord within ten days of receipt of notice from Landlord that it has obtained a permit for construction of the foundation of the Building, an irrevocable letter of credit in the form annexed hereto as Schedule "E" or such other form as may be acceptable to the Landlord acting reasonably, issued by Canadian Imperial Bank of Commerce or one of the other six largest Canadian chartered banks which letter of credit shall be in the principal amount of $2,000,000.00 and shall expire on the then estimated Commencement Date. The letter of credit may have an expiry date prior to the Commencement Date provided, however, that the issuer of the letter of credit shall be obligated to either extend the letter of credit or to pay the amount the principal amount remaining outstanding as at the expiry date to the Landlord. The letter of credit or principal amount of $2,000,000.00 shall be returned or paid as applicable to the issuer of the letter of credit on the first date occurring on or after the Commencement Date when the Tenant delivers to the Landlord the letter of credit required under either (b) or (c) below. (b) If on or before the Commencement Date the Tenant delivers to the Landlord its audited financial statements for its fiscal year ended February 28, 1998 which statements were issued without qualification and indicate that the Tenant's "earnings before income taxes" exceed Cdn$5,000,000.00 and its Revenues for such fiscal period exceed Cdn$40,000,000.00 the Tenant shall be entitled on or after the Commencement Date to replace the letter of credit set out above by an irrevocable letter of credit in the amount of $1,000,000.00, in the form annexed hereto, renewable annually and to expire on the last day of the third year of the Initial Term hereof. (c) In the event that the audited consolidated financial statements for the Tenant for its fiscal year ended February 28, 1998 do not indicate revenues and earnings before income taxes in at least the amounts set forth in (b) above, the Tenant shall provide to the Landlord a replacement irrevocable letter of credit in the amount of $2,000,000.00 and otherwise on the terms and conditions set out in (b) above. If the Tenant fails to achieve the required revenues and earnings before income taxes for its fiscal year ended February 28, 1998 but achieves such revenues and...
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Security for Payment of Rent. Rail Company shall provide the Authority within thirty (30) days after the Rent Commencement Date with a contract bond, irrevocable letter of credit or other similar security reasonably acceptable to the Authority (“Performance Security”) in an amount equal to three (3) months’ annual rental payable by Rail Company pursuant to Section 5, to guarantee the faithful performance by Rail Company of its obligations under this Agreement and the payment of all rentals, fees and charges due hereunder. Rail Company shall be obligated to maintain such Performance Security in effect until the expiration of sixty (60) consecutive months following the Rent Commencement Date (the “Performance Security Termination Date”). If no Event of Default exists as of the Performance Security Termination Date, the Performance Security shall be returned to Rail Company within thirty (30) days. If an Event of Default exists as of the Performance Security Termination Date, the Performance Security shall be returned to Rail Company within thirty (30) days after the Event of Default is cured. Such Performance Security shall be in a form and with a company reasonably acceptable to the Authority and licensed to do business in the State of Florida. In the event that any such Performance Security shall be for a period less than the full period required by this Section or if Performance Security shall be canceled, Rail Company shall provide a renewal or replacement Performance Security for the remaining required period at least thirty (30) days prior to the date of such expiration or cancellation. The Authority may waive any requirement herein in its exclusive discretion.
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Related to Security for Payment of Rent

  • Security for Payment To secure payment of all obligations due hereunder, the Customer hereby grants to Custodian a continuing security interest in and right of setoff against each Account and all Property held therein from time to time in the full amount of such obligations; provided that, if there is more than one Account and the obligations secured pursuant to this Section can be allocated to a specific Account or the Portfolio related to such Account, such security interest and right of setoff will be limited to Property held for that Account only and its related Portfolio. Should the Customer fail to pay promptly any amounts owed hereunder, Custodian shall be entitled to use available Cash in the Account or applicable Account, as the case may be, and to dispose of Securities in the Account or such applicable Account as is necessary. In any such case and without limiting the foregoing, Custodian shall be entitled to take such other action(s) or exercise such other options, powers and rights as Custodian now or hereafter has as a secured creditor under the New York Uniform Commercial Code or any other applicable law.

  • Payment of Rent If the tenant is required to pre-pay rent in advance it should be selected. This is common with tenants with no or bad credit history. Section XIII.

  • PAYMENT OF RENTS Unless deferred by UCF DHRL, all housing rents relating to a specific period are due no later than the dates shown on the Housing Agreement: Cancellation Fees and Important Dates Schedule for the semester the Student will be in residence. Students who are assigned a room after the rent due date are granted an automatic extension of the due date to 14 days from the date the room assignment is made. UCF DHRL will NOT send an invoice or billing statement to the Student. Payments are due on a semester-by-semester basis. The amount of each payment is shown in the Room Rates: Applicable Rates Schedule. Payments are due on or before the due dates shown in the Housing Agreement: Cancellation Fees and Important Dates Schedule applicable to the length of the agreement the Student and UCF DHRL agree to. Students with an agreement for a summer residence will make only one payment, depending on which session(s) the Student is residing in Housing. Residents staying for both summer session A and summer session B owe the amounts shown for summer session C, and due dates are those shown for summer session C. Please refer to the Housing Agreement: Cancellation Fees and Important Dates Schedule for payment due dates.

  • Late Payment of Rent If any installment of Base Rent or Additional Charges (but only as to those Additional Charges which are payable directly to Lessor or Lessor’s agent or assignee) shall not be paid within five (5) Business Days after its due date, Tenant will pay to Lessor on demand a late charge (to the extent permitted by law) computed at the Overdue Rate (or at the maximum rate permitted by law, whichever is the lesser) on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Tenant pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Tenant shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due. If any Facility Mortgagee shall so require, or if any Additional Charges shall not be paid to a third party payee within five (5) Business Days after its due date, Lessor may at any time thereafter, at Lessor’s option, require Tenant to deposit into an escrow account under the sole dominion and control of Lessor (or the applicable Facility Mortgagee), on the first day of each and every month, an amount sufficient to insure that such escrow account shall contain an amount sufficient to make such payment on its next due date, in which event Lessor shall make all future payments for such expense from the escrow account. In the event of any failure by Tenant to pay any Additional Charges when due, Tenant shall promptly pay and discharge, as Additional Charges, every fine, penalty, interest and cost that may be added for non-payment or late payment of such items. Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of Rent.

  • Abatement of Rent In the event that Tenant is prevented from using the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, as required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any such set of circumstances as set forth in items (i) through (iii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two (2) consecutive business days after such notice, or occurs for ten (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Rent and Additional Rent shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using the Premises, or a portion thereof, in the proportion that the floor area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”), bears to the total floor area of the Premises. If Landlord has not cured such Abatement Event within one hundred eighty (180) days after receipt of written notice from Tenant, Tenant shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until such time as Landlord has cured the Abatement Event, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Notice.

  • ABATEMENT OF RENT; LESSEE'S REMEDIES (a) In the event of (i) Premises Partial Damage or (ii) Hazardous Substance Condition for which Lessee is not legally responsible, the Base Rent, Common Area Operating Expenses and other charges, if any, payable by Lessee hereunder for the period during which such damage or condition, its repair, remediation or restoration continues, shall be abated in proportion to the degree to which Lessee's use of the Premises is impaired, but not in excess of proceeds from insurance required to be carried under Paragraph 8.3(b). Except for abatement of Base Rent, Common Area Operating Expenses and other charges, if any, as aforesaid, all other obligations of Lessee hereunder shall be performed by Lessee, and Lessee shall have no claim against Lessor for any damage suffered by reason of any such damage, destruction, repair, remediation or restoration. (b) If Lessor shall be obligated to repair or restore the Premises under the provisions of this Paragraph 9 and shall not commence, in a substantial and meaningful way, the repair or restoration of the Premises within ninety (90) days after such obligation shall accrue, Lessee may, at any time prior to the commencement of such repair or restoration, give written notice to Lessor and to any Lenders of which Lessee has actual notice of Lessee's election to terminate this Lease on a date not less than sixty (60) days following the giving of such notice. If Lessee gives such notice to Lessor and such Lenders and such repair or restoration is not commenced within thirty (30) days after receipt of such notice, this Lease shall terminate as of the date specified in said notice. If Lessor or a Lender commences the repair or restoration of the Premises within thirty (30) days after the receipt of such notice, this Lease shall continue in full force and effect. "Commence" as used in this Paragraph 9.6 shall mean either the unconditional authorization of the preparation of the required plans, or the beginning of the actual work on the Premises, whichever occurs first.

  • No Abatement of Rent This Agreement shall remain in full force and effect and Tenant’s obligation to make all payments of Rent and to pay all other charges as and when required under this Agreement shall remain unabated during the Term notwithstanding any damage involving the Leased Property, or any portion thereof (provided that Landlord shall credit against such payments any amounts paid to Landlord as a consequence of such damage under any business interruption insurance obtained by Tenant hereunder). The provisions of this Article 10 shall be considered an express agreement governing any cause of damage or destruction to the Leased Property, or any portion thereof, and, to the maximum extent permitted by law, no local or State statute, laws, rules, regulation or ordinance in effect during the Term which provide for such a contingency shall have any application in such case.

  • Collection of Rent In any case where State has a cause of action for damages, State shall have the privilege of splitting the cause to permit the institution of a separate suit for rent due hereunder, and neither institution of any suit, nor the subsequent entry of judgment shall bar State from bringing another suit for rent; it being the purpose of this provision to provide that the forbearance on the part of State in any suit or entry of judgment for any part of the rent reserved under this Contract, to sue for, or to include in, any suit and judgment the rent then due, shall not serve as defense against, nor prejudice a subsequent action for, rent or other obligations due under the Contract. The claims for rent may be regarded by State, if it so elects, as separate claims capable of being assigned separately.

  • Release for Payment Upon receipt by the Collateral Custodian of the Servicer’s request for release of documents and receipt in the form annexed hereto as Exhibit M (which certification shall include a statement to the effect that all amounts received in connection with such payment or repurchase have been credited to the Collection Account as provided in this Agreement), the Collateral Custodian shall promptly release the related Required Loan Documents to the Servicer.

  • Adjustment of Rent Lessee and Lessor agree that the payments and allocations of Basic Rent, Stipulated Loss Values, Stipulated Loss Amounts, Termination Values and Termination Amount percentages and the Early Purchase Price shall be adjusted to the extent provided in Section 2.6 of the Participation Agreement.

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