SECURITY FOR RENT Sample Clauses

SECURITY FOR RENT. 24.1 Lessor shall have a first lien paramount to all others on every right and interest of Lessee in and to this Lease, and on any furnishings, equipment, fixtures or other tangible property of any kind belonging to Lessee and located in or about the Demised Premises. Such lien is granted for the purpose of securing the payments of rents, charges, penalties, and damages herein covenanted to be paid by Lessee, and for the purpose of securing the performance of all of Lessee's obligations under this Lease. Such lien shall be in addition to all rights to Lessor given and provided by law but shall only be exercised by Lessor after the occurrence of an Event of Default which is not cured within any applicable cure period. This Lease shall constitute a security agreement under the Uniform Commercial Code granting Lessor a security interest in any furnishings, equipment, fixtures or other tangible personal property (subject to the terms of Article 11 herein) of any kind belonging to Lessee and located in or about the Demised Premises. If required by Lessor, Lessee shall execute financing statements for filing under the Uniform Commercial Code reflecting the security interest granted under this section. Notwithstanding anything to the contrary contained in this Section 24.1, in the event all or substantially all of the Demised Premises is sublet, assigned or transferred or a controlling number of the outstanding shares in Lessee is sold, assigned or otherwise transferred (other than to Xxxxxx X. Xxxxxx or a wholly owned subsidiary of Lessee or of Lessee's parent corporation Sun Healthcare Group, Inc.) with the prior written consent of Lessor in accordance with Section 18.1 of this Lease, this Lease shall at such time constitute a security agreement under the Uniform Commercial Code granting Lessor a security interest in any accounts receivable of Lessee's successor related to the Demised Premises, and at such time, Lessee's successor shall execute a security agreement and financing statements for filing under the Uniform Commercial Code reflecting a security interest in said accounts receivable.
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SECURITY FOR RENT. ArenaCo will secure payment of Base Rent and Additional Rent as described in subparagraphs 12.e through 12.g.
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SECURITY FOR RENT. 24.1 Lessor shall have a first lien paramount to all others (except any Mortgage/Underlying Lease made by Lessor) on every right and interest of Lessee in and to this Lease, and on any furnishings, equipment, fixtures, accounts receivable, certificates of need, licenses, provider agreements, certifications, books, records and other property of any kind belonging to Lessee and used in connection with this Lease or located at the Demised Premises. Such lien is granted for the purpose of securing the payments of Rent, charges, penalties, and damages herein covenanted to be paid by Lessee, and for the purpose of securing the performance of all of Lessee’s obligations under this Lease. Such lien shall be in addition to all rights to Lessor given and provided by law. This Lease shall constitute a security agreement under the Uniform Commercial Code granting Lessor a security interest in any furnishings, equipment, fixtures, accounts receivable certificates of need, licenses, provider agreements, certifications, books, records and other personal property of any kind belonging to Lessee, and Lessee shall execute such other instruments and financing statements as Lessor may request to evidence or perfect said security interest.
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SECURITY FOR RENT. 24.1 Lessor shall have a first lien paramount to all others on every right and interest of Lessee in and to this Sub-Sublease, and on any furnishings, equipment, fixtures, accounts receivable or other property of any kind belonging to Lessee and located at or related to the Demised Premises. Such lien is granted for the purpose of securing the payments of rents, charges, penalties, and damages herein covenanted to be paid by Lessee, and for the purpose of securing the performance of all of Lessee's obligations under this Sub-Sublease. Such lien shall be in addition to all rights to Lessor given and provided by law but shall only be exercised by Lessor after the occurrence of an Event of Default which is not cured within any applicable cure period. This Lease shall constitute a security agreement under the Uniform Commercial Code granting Lessor a security interest in any furnishings, equipment, fixtures, accounts receivable or other personal property of any kind belonging to Lessee and located at or related to the Demised Premises. If required by Lessor, Lessee shall execute financing statements for filing under the Uniform Commercial Code reflecting the security interest granted under this section. Upon Lessee's or Guarantor's written request, Lessor shall subordinate its lien under this Section 24.1, solely as to accounts receivable, to a lien granted by Lessee or Guarantor to a third party lender securing a loan made by such lender to Lessee to provide working capital for the operation of the Leased Property as a nursing home in accordance with this Sub-Sublease.
Sample 1
SECURITY FOR RENT. 1. Lessee shall provide a guaranty to the extent of SIX NET MONTHLY RENTS to provide security for its obligations under this contract. This guaranty may be effected in the form of a bank guaranty issued for an unlimited period of time. On termination of Lease, the security is returned to the full extent, provided this contract of Lease is perfectly fulfilled and all other obligations in connection with this Lease are complied with. Otherwise, the security provided shall be set off against Lessor's claims. Lessor may demand that the suretyship is increased corresponding to a rent increase as per Section 8 of this contract. Accordingly, the security is to be increased on Lessor's first demand in such a way, that it always matches SIX current net monthly rent payments.
Sample 1
SECURITY FOR RENT. 1. Not later than 2 weeks prior to the handing over of the Leased Property, Lessee is obligated to procure the absolute bank suretyship of a big German, American or Japanese bank resident in Germany corresponding to Appendix 1 to this Lease, amounting to three month's rents plus advance payments of incidental expenses and the respective statutory value added tax (at present 15 %) plus an amount of DM 375,000 plus statutory value added tax (at present 15 %), covering each and every financial obligation on part of Lessee subject to this contract. If finishing works on Lessee's demand are to be effected by Lessor, the suretyship is to be submitted prior to placing the order for the finishing works. Lessor shall inform Lessee about the date of placing the order. The guarantor is obligated to pay upon Lessor's first demand. Guarantor waives its right to defense of the surety, due to Lessee and guarantor under the law, in particular defenses of defeasibility, of offset, and of failure to pursue remedies (Sections 768, 770, 771 BGB, Civil Code), and the possibility of depositing. Lessor is entitled, but not obligated, to satisfy its claims with the suretyship.
Sample 1
SECURITY FOR RENT. 22.1 Landlord shall have a first lien paramount to all others (except any Mortgage/Underlying Lease, any lien or security interest under the A/R Credit Facility, the LG Parent Credit Facility, any other financial accommodation expressly permitted under the Lease Guaranty, any other title exception, matter or disclosure appearing in the title insurance policies obtained by Lender in connection with its acquisition of the Demised Premises, and any other lien permitted under Section 30.2) on every right and interest of Tenant in and to this Lease, and, subject to the provisions of Article 17 and the provisions of the Lease Guaranty, on any furnishings, equipment, fixtures, accounts receivable, certificates of need, licenses, provider agreements, certifications, books, records and other property of any kind belonging to Tenant and used in connection with this Lease or located at the Demised Premises. Such lien is granted for the purpose of securing the payments of Base Rent, charges, penalties, and damages herein covenanted to be paid by Tenant, and for the purpose of securing the performance of all of Tenant’s obligations under this Lease. Such lien shall be in addition to all rights to Landlord given and provided by law. Subject to the foregoing, this Lease shall constitute a security agreement under the Uniform Commercial Code granting Landlord a security interest in any furnishings, equipment, fixtures, accounts receivable, certificates of need, licenses, provider agreements, certifications, books, records and other personal property of any kind belonging to Tenant, and Tenant shall execute such other instruments and financing statements as Landlord may request to evidence or perfect said security interest. As a condition to Landlord’s subordination of its lien and security interests hereunder to the lien or security interests of any lender under the A/R Credit Facility, the LG Parent Credit Facility or any other financial accommodation permitted under the Lease Guaranty, Tenant shall cause the applicable lender to provide to Landlord a subordination and intercreditor agreement in form and substance reasonably acceptable to Landlord.
Sample 1
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SECURITY FOR RENT. To secure the rent hereunder, Lessee agrees to furnish, in form and content satisfactory to Lessor, rental insurance, bond or other security to the Lessor in an amount equal to one (1) year's rental.
Sample 1
SECURITY FOR RENT. 23.1 Landlord shall have a first lien paramount to all others on every right and interest of Tenant in and to this Lease, and, except for any lien in favor of a Mortgagee, on Tenant’s furnishings, equipment, fixtures, accounts receivable, books and records. Tenant hereby consents to Landlord filing such financing statements and other documents reasonably required to perfect such security interest. Such lien is granted for the purpose of securing the payments of Base Rent, charges, penalties, and damages herein covenanted to be paid by Tenant, and for the purpose of securing the performance of all of Tenant’s obligations under this Lease. Such lien shall be in addition to all rights to Landlord given and provided by law. This Lease shall constitute a security agreement under the Uniform Commercial Code granting Landlord a security interest in any furnishings, equipment, fixtures, accounts receivable, and books and records, and Tenant shall execute such other instruments and financing statements as Landlord may request to evidence or perfect said security interest.
Sample 1

Related to SECURITY FOR RENT

  • Security for Obligations This Agreement secures, and the Collateral is collateral security for, the prompt and complete payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. §362(a) (and any successor provision thereof)), of all Obligations with respect to every Grantor (the “Secured Obligations”).

  • Security for Loan The Borrower covenants that the principal sum of Loan, interest, commitment and other charges and any other dues under this Agreement shall be secured by such Security as IHFL shall determine in its own discretion, with IHFL having the right to decide the place, timing and type of the Security including the manner of its creation and/or additional Security it may require and the Borrower shall create the Security accordingly and furnish any such additional security as may be decided by IHFL. To secure, to the satisfaction of IHFL, the fulfillment of all the obligations of the Borrower under the Loan Documents including payment of the Borrower's Dues and other amounts by the Borrower to IHFL under the Loan Documents, the Borrower hereby undertake(s) to forthwith create, and/or shall cause the Borrower to forthwith create, (a) such Security in favour of IHFL as mentioned in the Loan Documents (including those mentioned hereunder) and (b) such other additional Security of adequate value (to the satisfaction of IHFL), if IHFL so requests from time to time for any reason(s) whatsoever including due to inadequate value (in the opinion of IHFL) of any Security and/or IHFL's right on any Security getting aversely affected in any manner pursuant to, inter alia, injunction/stay order/freeze/attachment of any Security or any part thereof. The Borrower shall, and/or shall cause the Borrower to, (a) forthwith execute and register, if required, appropriate Security Documents and other agreements/deeds relating thereto (in a format acceptable to IHFL) and (b) take/obtain a written no objection certificate) "NOC" (From IHFL prior to, inter alia, any application(s), agreement(s), document(s) and/or contract(s) for/of, inter alia, sale, conveyance, transfer, lease, sub-lease, rent, leave and license, negative lien, assignment, lien, charge, allotment and/or encumbrance (in any manner) of the Security (and/or any portion/unit thereof). Unless otherwise mentioned in the Loan Documents, the Borrower further undertake that it shall, and shall cause the Borrower to, forthwith execute the Security Documents and create the first-ranking and exclusive mortgage / charge / pledge/ hypothecation (in a mode/manner acceptable to IHFL) over the Security in favour of IHFL before or at the time of entering into this Agreement. Any failure/delay in execution of the Security Documents and creation of the Security as aforesaid shall be an Event of Default under the Loan Documents. The Borrower shall, and/or shall cause the Borrower to, execute/to issue a Power of Attorney authorizing/empowering IHFL to, inter alia, allot, sell, transfer, lease, sub-lease, assign, mortgage, encumber, construct and/or develop the Security)and/or any part/unit thereof.

  • LIEN FOR RENT Upon any Default by Tenant in the payment of Rent or other amounts owed hereunder, Landlord shall have a lien upon the property of Tenant in the Premises for the amount of such unpaid amounts, and Tenant hereby specifically waives any and all exemptions allowed by law. In such event, Tenant shall not remove any of Tenant’s property from the Premises except with the prior written consent of Landlord, and Landlord shall have the right and privilege, at its option, to take possession of all Tenant’s property in the Premises, to store the same on the Premises, or to remove it and store it in such place as may be selected by Landlord, at Tenant’s risk and expense. If Tenant fails to redeem the personal property so seized, by payment of whatever sum may be due Landlord hereunder (including all storage costs), Landlord shall have the right, after 20 days written notice to Tenant of its intention to do so, to sell such personal property so seized at public or private sale and upon such terms and conditions as may appear advantageous to Landlord, and after the payment of all proper charges incident to such sale, apply the proceeds thereof to the payment of any balance due to Landlord on account of rent or other obligations of Tenant pursuant to this Lease. In the event there shall then remain in the hands of Landlord any balance realized from the sale of said personal property, the same shall be paid over to Tenant. The exercise of the foregoing remedy by Landlord shall not relieve or discharge Tenant from any deficiency owed to Landlord that Landlord has the right to enforce pursuant to any of the provisions of this Lease. Tenant shall also be liable for all expenses incident to the foregoing process, including any auctioneer or attorney’s fees or commissions. At Tenant’s request, Landlord shall subordinate its lien rights as set forth in this paragraph to the lien, operation, and effect of any bona fide third party financing for equipment, trade fixtures, leasehold improvements, and/or working capital pursuant to a subordination agreement in form and substance reasonably acceptable to Landlord. Such subordination shall be limited to specific items of equipment and shall not be in the form of a blanket lien subordination.

  • Security for the Obligations To secure the payment and performance by Borrowers of the Obligations hereunder, each Borrower grants, under and pursuant to the Security Agreement executed by Borrowers dated as of the date hereof, to Lender, its successors and assigns, a continuing, first-priority security interest in, and does hereby assign, transfer, mortgage, convey, pledge, hypothecate and set over to Lender, its successors and assigns, all of the right, title and interest of each Borrower in and to the Collateral, whether now owned or hereafter acquired, and all proceeds (including, without limitation, all insurance proceeds) and products of any of the Collateral. At any time upon Lender’s request, Borrowers shall execute and deliver to Lender any other documents, instruments or certificates requested by Lender for the purpose of properly documenting and perfecting the security interests of Lender in and to the Collateral granted hereunder, including any additional security agreements, mortgages, control agreements, and financing statements.

  • 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.

  • 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.

  • Security Forms SECTION 201.

  • Processor’s Liability for Nonperformance In performing the Services, Processor will exercise ordinary care and act in good faith. Processor shall be deemed to have exercised ordinary care if its action or failure to act is in conformity with general banking usages or is otherwise a commercially reasonable practice of the banking industry. Processor’s liability relating to its or its employees’, officers’ or agents’ performance or failure to perform hereunder, or for any other action or inaction of Processor, or its employees, officers or agents, shall be limited exclusively to the lesser of (i) any direct losses which are caused by the failure of Processor, its employees, officers or agents to exercise reasonable care and/or act in good faith, and (ii) the face amount of any item, check, payment or other funds lost or mishandled by the action or inaction of Processor. Under no circumstances will Processor be liable for any general, indirect, special, incidental, punitive or consequential damages or for damages caused, in whole or in part, by the action or inaction of AmeriCredit or the Trustee, whether or not such action or inaction constitutes negligence. Processor will not be liable for any damage, loss, liability or delay caused by accidents, strikes, fire, flood, war, riot, equipment breakdown, electrical or mechanical failure, acts of God or any cause which is reasonably unavoidable or beyond its reasonable control. AmeriCredit agrees that the fees charged by Processor for the performance of this Service shall be deemed to have been established in contemplation of these limitations on Processor’s liability. In addition, AmeriCredit agrees to indemnify and hold Processor harmless from all liability on the part of Processor under this Section 10 except such liability as is attributable to the gross negligence of Processor.

  • Security for Obligations Grantors Remain Liable 3.1 Security for Obligations 3.2 Continuing Liability Under Collateral

  • Security for the Loan The Notes and each Borrower’s obligations hereunder and under the other Loan Documents shall be secured by all Mortgages, the Assignments of Leases, the Assignments of Agreements, the Manager’s Subordinations, and the security interests and Liens granted in this Agreement and in the other Loan Documents.

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