Specified Lease. A lease by the Borrower as lessee of Real Estate at which Inventory is held and as to which at any time either (a) the Borrower and the Agents have not received a Landlord Waiver or (b) the Administrative Agent has not received evidence, in form and substance satisfactory to the Administrative Agent, that, based upon then existing law (as determined by the Administrative Agent in the exercise of its reasonable discretion and on the advice of counsel), the landlord of such property would not have a lien on inventory superior to the security interest granted under the Security Agreement, securing rent obligations more than thirty (30) days past due or securing future rent obligations accruing after the Closing Date.
Appears in 3 contracts
Samples: Subordination Agreement (BTHC VII Inc), Intercreditor and Lien Subordination Agreement (Whitehall Jewellers Inc), Bridge Term Loan Credit Agreement (Whitehall Jewellers Inc)
Specified Lease. A lease by the Borrower as lessee of Real Estate at which Eligible Inventory is held and as to which at any time either (a) the Borrower and the Agents have not received a Landlord Waiver or (b) the Administrative Agent has Agents have not received evidence, in form and substance satisfactory to the Administrative AgentAgents, that, based upon then existing law (as determined by the Administrative Agent Agents in the exercise of its their reasonable discretion and on the advice of counsel), the landlord of such property would not have a lien on inventory superior to the security interest granted under the Security Agreement, securing rent obligations more than thirty (30) days past due or securing future rent obligations accruing after the Closing Date.
Appears in 2 contracts
Samples: Revolving Credit, Term Loan and Gold Consignment Agreement (Marks Bros Jewelers Inc), Revolving Credit, Term Loan and Gold Consignment Agreement (Marks Bros Jewelers Inc)
Specified Lease. A lease by the Borrower as lessee of Real Estate at which Eligible Inventory is held and as to which at any time either (a) the Borrower and the Agents have not received a Landlord Waiver or (b) the Administrative Agent has not received evidence, in form and substance satisfactory to the Administrative Agent, that, based upon then existing law (as determined by the Administrative Agent in the exercise of its reasonable discretion and on the advice of counsel), the landlord of such property would not have a lien on inventory superior to the security interest granted under the Security Agreement, securing rent obligations more than thirty (30) days past due or securing future rent obligations accruing after the Closing Date.
Appears in 1 contract
Samples: Revolving Credit and Gold Consignment Agreement (Whitehall Jewellers Inc)
Specified Lease. A lease by the Borrower as lessee of Real Estate at which Inventory is held and as to which at any time either (a) the Borrower and the Agents have not received a Landlord Waiver or (b) the Administrative Agent has not received evidence, in form and substance satisfactory to the Administrative Agent, that, based upon then existing law (as determined by the Administrative Agent in the exercise of its reasonable discretion and on the advice of counsel), the landlord of such property would not have a lien on inventory superior to the security interest granted under the Security Agreement, securing rent obligations more than thirty (30) days past due or securing future rent obligations accruing after the Initial Closing Date.
Appears in 1 contract
Samples: Subordination Agreement (Whitehall Jewelers Holdings, Inc.)
