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 _______ This First Amendment to Lease (“Amendment”) entered into this 22ndday of August, 2007 and amends that certain Lease between M & M...
Sample 1Sample 2
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 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. 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
Security for the Lease. (1) The Tenant undertakes to provide security for the lease. (2) To this end the Tenant shall provide the Landlord, before the commencement of the lease and as security for all claims by the Landlord arising out of and in connection with this lease, with a directly enforceable bank/corporation guarantee certificate, payable at first demand, waiving the defences of voidability, setoff and failure to pursue remedies, in the sum of three months' rent plus value added tax pursuant to Clause 4 (1) and (6), that is to say DM 24,400.00. (3) The Landlord may satisfy its due claims under this guarantee even before the end of the tenancy. In this case the Tenant undertakes to furnish the Landlord immediately with a certificate of guarantee in the same terms made out in the original sum. (4) The guarantee shall expire on the return of the guarantee certificate to the guarantor, but not later than 1 month after the leased properties have been duly handed back.
Sample 1
Security for the Lease. 66 ARTICLE XXX MISCELLANEOUS........................................... 67 30.1 Landlord's Right to Inspect................................... 67 30.2
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”).

  • 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.

  • 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.

  • Survival of Covenants and Agreements The covenants and agreements of the parties to be performed after the Effective Time contained in this Agreement shall survive the Effective Time.

  • Covenants Run with the Land All of the grants, covenants, terms, provisions and conditions herein shall run with the Premises, shall be binding upon Borrower and shall inure to the benefit of Lender, subsequent holders of this Security Instrument and their successors and assigns. Without limitation to any provision hereof, the term “Borrower” shall include and refer to the borrower named herein, any subsequent owner of the Property, and its respective heirs, executors, legal representatives, successors and assigns. The representations, warranties and agreements contained in this Security Instrument and the other Loan Documents are intended solely for the benefit of the parties hereto, shall confer no rights hereunder, whether legal or equitable, in any other Person and no other Person shall be entitled to rely thereon.

  • Covenants regarding Party C Party B (as a shareholder of Party C) and Party C hereby covenant as follows: 2.1.1 Without the prior written consent of Party A, they shall not in any manner supplement, change or amend the articles of association of Party C, increase or decrease its registered capital, or change its structure of registered capital in other manners; 2.1.2 They shall maintain Party C’s corporate existence in accordance with good financial and business standards and practices, obtain and maintain all necessary government licenses and permits by prudently and effectively operating its business and handling its affairs; 2.1.3 Without the prior written consent of Party A, they shall not at any time following the date hereof, sell, transfer, mortgage or dispose of in any manner any assets of Party C or legal or beneficial interest in the material business or revenues of Party C, or allow the encumbrance thereon of any security interest; 2.1.4 Without the prior written consent of Party A, they shall not incur, inherit, guarantee or suffer the existence of any debt, except for payables incurred in the ordinary course of business other than through loans; 2.1.5 They shall always operate all of Party C’s businesses in the ordinary course of business to maintain the asset value of Party C and refrain from any action/omission that may affect Party C’s operating status and asset value; 2.1.6 Without the prior written consent of Party A, they shall not cause Party C to execute any major contract, except the contracts in the ordinary course of business (for purpose of this subsection, a contract with a price exceeding RMB100,000 shall be deemed a major contract); 2.1.7 Without the prior written consent of Party A, they shall not cause Party C to provide any person with any loan or credit; 2.1.8 They shall provide Party A with information on Party C’s business operations and financial condition at Party A’s request; 2.1.9 If requested by Party A, they shall procure and maintain insurance in respect of Party C’s assets and business from an insurance carrier acceptable to Party A, at an amount and type of coverage typical for companies that operate similar businesses; 2.1.10 Without the prior written consent of Party A, they shall not cause or permit Party C to merge, consolidate with, acquire or invest in any person; 2.1.11 They shall immediately notify Party A of the occurrence or possible occurrence of any litigation, arbitration or administrative proceedings relating to Party C’s assets, business or revenue; 2.1.12 To maintain the ownership by Party C of all of its assets, they shall execute all necessary or appropriate documents, take all necessary or appropriate actions, file all necessary or appropriate complaints, and raise necessary or appropriate defenses against all claims; 2.1.13 Without the prior written consent of Party A, they shall ensure that Party C shall not in any manner distribute dividends to its shareholders, provided that upon Party A’s written request, Party C shall immediately distribute all distributable profits to its shareholders; 2.1.14 At the request of Party A, they shall appoint any person designated by Party A as the director or executive director of Party C. 2.1.15 Without Party A’s prior written consent, they shall not engage in any business in competition with Party A or its affiliates; and 2.1.16 Unless otherwise required by PRC law, Party C shall not be dissolved or liquated without prior written consent by Party A.

  • Survival of Covenants Except as expressly set forth in this Agreement or any Ancillary Agreement, the covenants, representations and warranties contained in this Agreement and each Ancillary Agreement, and Liability for the breach of any obligations contained herein, shall survive the Separation and the Distribution and shall remain in full force and effect.

  • Survival of Covenants, Representations and Warranties All covenants, agreements, representations and warranties made herein or in any documents or other papers delivered by or on behalf of the Borrowers, or any of them, pursuant hereto shall be deemed to have been relied upon by the Lenders, regardless of any investigation made by or on behalf of the Lenders and shall survive the execution and delivery of this Master Agreement and the making by the Lenders of the Loans as herein contemplated and shall continue in full force and effect so long as any Loan, Obligation or any other amount due under this Agreement remains outstanding and unpaid or unsatisfied.

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