Common use of SECURITY FOR RENT Clause in Contracts

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.

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 fixtures, or other tangible personal property (subject to the terms of Article 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 or the Lease is sublet, assigned or transferred transferred, or a controlling number of the outstanding shares in Lessee is sold, assigned or otherwise transferred (other than to Xxxxxx X. Xxxxxx or an entity controlled by 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 the Lessor in accordance with Section 18.1 of this Lease, this Lease shall at such time only 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, 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.

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.. ARTICLE XXV--INDEMNIFICATION 25.1 To the extent insurance proceeds do not cover same, Lessee. agrees to protect, indemnify, defend and save harmless the Lessor from and against any and all claims, demands and causes of action of any nature whatsoever for injury to or death of persons or loss of or damage to property, occurring during the Term on the Demised Premises or, to the extent the same are under Lessee's control, any adjoining sidewalks, streets or ways, or in any manner growing out of or connected with the use and occupation of the Demised Premises by Lessee, its officers, agents, employees or invitees, or Lessee's maintenance of the condition thereof, or the use of any existing or future sewer system, or the use of any adjoining sidewalks, streets or ways which are under Lessee's control during the Term of this Lease, and Lessee further agrees to pay any reasonable attorneys' fees and expenses incident to the defense by Lessor of any such claims, demands or causes of action. 18