Security for the Lease Sample Clauses

Security for the Lease. 66 ARTICLE XXX MISCELLANEOUS................................................67
Sample 1
AutoNDA by SimpleDocs
Security for the Lease. Landlord and Tenant acknowledge and agree that at the time of signing of this Lease Tenant has reported financial liquidity and the Landlord has relied upon this current level of liquidity when entering into this Lease and in constructing the improvements outlined in the Work Letter for the Premises to be occupied by the Tenant. However if Tenant’s reported financial results during months 25-48 show cash and long and short-term investments falling below $15 million, then Tenant shall increase Tenant’s security deposit to $1 million dollars. Or after month 48 if Tenant’s reported financial results during months 49-72 show cash and long and short -term investments falling below $15 million then Tenant shall provide Landlord with a Letter of Credit in form acceptable to Landlord in the amount of $1 million dollars as additional security and convertible to cash in favor of Landlord in the event of a Tenant default and added to Tenant’s Security Deposit if any. Landlord may use such funds to cure any material default or breach of the Lease. Landlord will not be liable for any indirect, consequential, special or punitive damages incurred by Tenant arising from a claim that Landlord violated the bankruptcy code’s automatic stay in connection with any application by Landlord of any proceeds. The Landlord’s liability under the aforementioned circumstances being limited to the reimbursement of direct costs as and to the extent expressly provided in the Lease. Nothing in this Lease or in the Letter of Credit will confer upon the Tenant any property rights or interests in the proceeds; provided however, that upon the expiration or earlier termination of this Lease, so long as there then exists no defaults hereunder, Landlord agrees to return any unapplied balance of the proceeds held by Landlord and the Letter of Credit itself (if not previously drawn) to the issuing bank. Notwithstanding, in the event Tenant were to execute a transaction using cash and long and short-term investments, the Tenant would have three months to increase cash and short and long-term investments above the threshold. If, after the three month period, the cash and short and long-term investment balance did not equal or exceed the threshold, Tenant would be required to increase the deposit as provided for above. Final I-405 CAPA Lease 9-12-07 3 Please Initial _______ EXHIBIT F SATELLITE DISH AGREEMENT I-405 CORPORATE CENTER AMENDMENT TO LEASE This First Amendment to Lease (“Amendment”) entered ...
Sample 1Sample 2
Security for the Lease. 66 ARTICLE XXX MISCELLANEOUS........................................... 67 30.1 Landlord's Right to Inspect................................... 67 30.2
Sample 1
Security for the Lease. Tenant shall provide Landlord with, at the time of Tenant’s execution of this Lease, and shall maintain in effect at all times during the Term of this Lease, security in the form of a clean, unconditional and irrevocable letter of credit (“Letter of Credit”) as described below. Landlord may draw on the Letter of Credit, in whole or in part (at Landlord’s option), if: (i) Tenant defaults with respect to any of the terms, conditions or provisions of this Lease on the Tenant’s part to be observed or performed, including but not limited to, the payment of Rent or Additional Rent, and the default continues beyond the applicable notice and cure period, if any, or (ii) Tenant, or anyone holding possession of the Leased Premises through Tenant, holds over in the Leased Premises after the expiration or sooner termination of the Term of this Lease, or (iii) Landlord is given notice that the bank issuing the Letter of Credit is terminating the Letter of Credit and it is not replaced with a Letter of Credit meeting the criteria set forth in this Section 4.06 at least sixty (60) days prior to the termination date, or (iv) the Letter of Credit is scheduled to expire as of the stated date by its terms and is not replaced with a Letter of Credit meeting the criteria set forth in this Section 4.06 at least sixty (60) days prior to the Letter of Credit’s stated expiration date. Landlord shall have the right to draw down the Letter of Credit and apply the proceeds of the Letter of Credit to the curing of any default by Tenant continuing beyond any applicable notice and cure period, including, but not limited to, the payment of Rent or Additional Rent, or the payment of any damages sustained by Landlord due to Tenant’s failure to perform its obligations, including, but not limited to, alteration and repair obligations under Article 7 herein, without notice to Tenant and prejudice to any other remedy or remedies at law or in equity which Landlord may have on account thereof. Landlord’s right to draw upon the Letter of Credit shall be based upon Landlord’s written statement to the issuer that Tenant is in default under the terms of the Lease beyond any applicable notice and cure period and presentation of a sight draft. Upon any the application, Tenant shall, within ten (10) days after Landlord gives Tenant notice thereof, cause the Letter of Credit to be reissued for the full face amount required herein, so that the Letter of Credit will be restored to its original amount. In ...
Sample 1
Security for the Lease. (1) The Tenant undertakes to provide security for the lease.
Sample 1
Security for the Lease. Effective as of the commencement of the Renewal Term, Section 4.06 (Security for the Lease) is hereby amended by reducing the Letter of Credit during the Renewal Term to equal $42,000.00, and the chart set forth in Section 4.06 of the Lease is amended accordingly.
Sample 1
Security for the Lease. Tenant shall deposit with Landlord, on or before fifteen (15) business days after the full execution of this Lease by Landlord and Tenant, security in the form of a Letter of Credit (the "Letter of Credit"), as described below, on the understanding that: (a) the Letter of Credit or any portion thereof may be drawn upon and applied to the curing of any default beyond applicable cure periods, or the payment of any damages sustained by Landlord due to Tenant's failure to perform its obligations, including, but not limited to, alteration and repair obligations under Article 7 herein, without prejudice to any other remedy or remedies at law or in equity which Landlord may have on account thereof, and upon such application Tenant shall promptly cause the Letter of Credit to be reissued for the full face amount recited below, so the same will be restored to the amount in effect immediately before Landlord drew on the Letter of Credit, or at Landlord's election, in the event of any default beyond applicable cure periods, Landlord may draw upon the full amount of the Letter of Credit and hold the cash proceeds thereof as security for the Lease, and may commingle such funds with the other funds of Landlord without being responsible to Tenant for the payment of any interest thereon, and (b) if Tenant is not in default, the remaining balance of the proceeds of the Letter of Credit, if any, shall be returned to Tenant, without interest, within thirty (30) days after the expiration of the Term and delivery of exclusive possession of the Leased Premises to Landlord.
Sample 1
AutoNDA by SimpleDocs
Security for the Lease 
Sample 1Sample 2

Related to Security for the Lease

  • 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.

  • 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 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 loan under this contract is secured by pledge of equity and the Pledge Agreement will be entered into separately. If it’s secured at the highest amount, the No. of the Pledge Agreement is / .

  • Cooperation With the Mortgage Loan Sellers With Respect to Rights Under the Loan Agreements It is expressly agreed and understood that, notwithstanding the assignment of the Loan Documents, it is expressly intended that the Mortgage Loan Sellers are entitled to the benefit of any securitization indemnification provisions that specifically run to the benefit of the lenders in the Loan Documents. Therefore, the Depositor, Master Servicer, Special Servicer and Trustee hereby agree to reasonably cooperate with any Mortgage Loan Seller, at the sole expense of such Mortgage Loan Seller, with respect to obtaining the benefits of the provisions of any section of a Loan Agreement or securitization cooperation agreement providing for indemnification of the lender and/or its loan seller affiliates with respect to the current securitization of the related Mortgage Loan, including, without limitation, reassignment to the related Mortgage Loan Seller of such sections, but no other portion, of the Loan Documents, to permit the related Mortgage Loan Seller to enforce such provisions for its benefit; provided, that none of the Depositor, Master Servicer, Special Servicer or Trustee shall be required to take any action that is inconsistent with the Servicing Standard, would violate applicable law, the terms and provisions of this Agreement or the Loan Documents, would adversely affect any Certificateholder, would cause either Trust REMIC to fail to qualify as a REMIC or the Grantor Trust to fail to qualify as a grantor trust for federal income tax purposes, or would result in the imposition of a “prohibited transaction” or “prohibited contribution” tax under the REMIC Provisions. To the extent that the Trustee is required to execute any document facilitating an assignment under this Section 12.14, such document shall be in form and substance reasonably acceptable to the Trustee.

  • Severability of Covenants/Blue Pencilling If any court determines that any of the Restrictive Covenants, or any part thereof, is invalid or unenforceable, the remainder of the Restrictive Covenants shall not thereby be affected and shall be given full effect, without regard to the invalid portions. If any court determines that any of the Restrictive Covenants, or any part thereof, are unenforceable because of the duration of such provision or the area covered thereby, such court shall have the power to reduce the duration or area of such provision and, in its reduced form, such provision shall then be enforceable and shall be enforced. Executive hereby waives any and all right to attack the validity of the Restrictive Covenants on the grounds of the breadth of their geographic scope or the length of their term.

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

  • Accuracy of Representations and Performance of Covenants The representations and warranties made by the Company in this Agreement were true when made and shall be true as of the Closing Date (except for changes therein permitted by this Agreement) with the same force and effect as if such representations and warranties were made at and as of the Closing Date. Additionally, the Company shall have performed and complied with all covenants and conditions required by this Agreement to be performed or complied with by the Company.

  • Continuing Security Interest; Assignments under the Credit Agreement This Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until the latest of (i) the payment in full in cash of the Secured Obligations, (ii) the Termination Date and (iii) the termination or expiration of all Letters of Credit and all Secured Hedge Agreements, (b) be binding upon each Grantor, its successors and assigns and (c) inure, together with the rights and remedies of the Administrative Agent hereunder, to the benefit of the Secured Parties and their respective successors, transferees and assigns. Without limiting the generality of the foregoing clause (c), any Lender Party may assign or otherwise transfer all or any portion of its rights and obligations under the Credit Agreement (including, without limitation, all or any portion of its Commitments, the Advances owing to it and the Note or Notes, if any, held by it) to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to such Lender Party herein or otherwise, in each case as provided in Section 8.07 of the Credit Agreement.

  • SURVIVAL OF COVENANTS, ETC All covenants, agreements, representations and warranties made herein, in the Notes, in any of the other Loan Documents or in any documents or other papers delivered by or on behalf of the Borrower or the Guarantors or any of their respective Subsidiaries pursuant hereto or thereto shall be deemed to have been relied upon by the Lenders and the Agent, notwithstanding any investigation heretofore or hereafter made by any of them, and shall survive the making by the Lenders of any of the Loans, as herein contemplated, and shall continue in full force and effect so long as any amount due under this Agreement or the Notes or any of the other Loan Documents remains outstanding or any Letters of Credit remain outstanding or any Lender has any obligation to make any Loans or issue any Letters of Credit. The indemnification obligations of the Borrower provided herein and in the other Loan Documents shall survive the full repayment of amounts due and the termination of the obligations of the Lenders hereunder and thereunder to the extent provided herein and therein. All statements contained in any certificate delivered to any Lender or the Agent at any time by or on behalf of the Borrower, any Guarantor or any of their respective Subsidiaries pursuant hereto or in connection with the transactions contemplated hereby shall constitute representations and warranties by such Person hereunder.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!