Common use of Subordination of Landlord’s Lien Clause in Contracts

Subordination of Landlord’s Lien. Upon Tenant's written request, Landlord agrees to provide a subordination of lien agreement pursuant to which Landlord will subordinate its statutory lien rights under Title 55, Chapter 13 of the Code of Virginia in the personal property of Tenant located within the Premises to the lien of any bona-fide third-party institutional lender (a "Tenant Lender") providing financing to Tenant for the operation of Tenant's business in the Premises (it being understood and agreed that nothing in this paragraph shall be deemed to grant Landlord any lien rights other than those provided by Title 55, Chapter 13 of the Code of Virginia or any lien rights on property other than the personal property of Tenant). The subordination of lien agreement shall include, without limitation: (i) a covenant that the Tenant Lender notify Landlord prior to entering the Premises and/or exercising any rights under the subordination of lien agreement, (ii) a covenant requiring Tenant Lender and Tenant, jointly and severally, to reimburse Landlord for and indemnify, defend and hold harmless Landlord and Landlord Parties from and against any and all cost, damage, claim, liability or expense (including without limitation, attorney's fees) incurred by Landlord or any Landlord Parties, directly or indirectly, as a result of or in any way arising from Tenant Lender's exercise of its rights under the subordination of lien agreement, including without limitation, any entry upon the Premises by Tenant Lender; and (iii) require Tenant Lender to remove all personal property of Tenant subject to such lien and described in such subordination of lien agreement within ten (10) business days following Tenant Lender's first entry upon the Premises. It shall be a condition to Landlord's delivery of any subordination of lien agreement that (a) Tenant deliver to Landlord, simultaneously with Tenant's request for such subordination of lien agreement, a copy of the financing agreement with Tenant Lender (which may be redacted by Tenant to omit any information not reasonably relevant to the subordination of lien), a list of all personal property of Tenant subject to the lien of such Tenant Lender and any other information Landlord may reasonably request regarding such Tenant Lender and/or the financing provided by such Tenant Lender; and (b) Tenant reimburse Landlord, within ten (10) days following Landlord's written demand, for all reasonable costs and expenses incurred by Landlord in connection with Tenant's request for a subordination of lien agreement, including without limitation, all reasonable legal costs and expenses incurred in connection with the preparation, review and/or negotiation of the subordination of lien agreement.

Subordination of Landlord’s Lien. Upon (a) Notwithstanding anything to the contrary contained herein, Landlord expressly subordinates to any security interest acquired by any bona fide first lienholder of Tenant ("Lender"), any and all statutory Landlord's liens or any other liens which Landlord may have or othernrise acquire by law with respect to Tenant's existing or hereafter acquired furniture, furnishings, medical equipment, machines or devices, including, without limitation, x-ray machines, dialysis machines, electromagnetic devices, ultrasound and other imaging devices and the like (collectively, "Medical Equipment"). (b) Landlord hereby agrees to allow Lender, upon at least seven (7) days prior written requestnotice to Landlord, to enter the Demised Premises accompanied by an authorized representative of Landlord, to remove said Medical Equipment in the event (i) Tenant defaults in its obligations to Lender, and (ii) Lender exercises its lawful remedies in connection with such default; provided, however, notwithstanding the foregoing to the contrary, Lender shall not have the right to remove any of such Medical Equipment unless and until, simultaneously with such removal, Lender delivers to Landlord payment by cashier's check in the amount equal to the amount of damage, if any, Landlord agrees reasonably determines will result or has resulted during such removal. In no event may a Lender advertise or conduct a sale of such Medical Equipment at the Demised Premises. (c) The foregoing terms and conditions shall be reflected in any documentation requested by Lender to be executed by Landlord or, at Landlord's election, in any form provided by Landlord to evidence the foregoing subordination, which documentation shall othernrise be in form acceptable to Landlord. 25. Services bv Landlord. Landlord shall provide the Building Standard Services described on Exhibit "E" attached hereto a..'ld by reference made a subordination of lien agreement pursuant pa.rt hereof. AllY serv1ces requested or required to which Landlord will subordinate its statutory lien rights under Title 55, Chapter 13 be supplied to Tenant in excess of the Code of Virginia in the personal property of Tenant located within the Premises to the lien of any bona-fide third-party institutional lender (a "Tenant Lender") providing financing to Tenant for the operation of Xxx~ding Standard Services shall be at Tenant's business in the Premises (it being understood sole cost and agreed that nothing in this paragraph expense and shall be paid for by Tenant promptly upon invoice therefor, which invoice may include Landlord's administrative costs and a fee of 10% for such provision. Nothing herein shall be deemed to grant require Landlord to provide to Tenant any lien rights other than those provided by Title 55, Chapter 13 services in excess of the Code of Virginia or any lien rights on property other than the personal property of Tenant)Building Standard Services. The subordination of lien agreement shall include, without limitation: (i) a covenant that the Tenant Lender notify Landlord prior to entering the Premises and/or exercising any rights under the subordination of lien agreement, (ii) a covenant requiring Tenant Lender and Tenant, jointly and severally, to reimburse Landlord for and indemnify, defend and hold harmless Landlord and Landlord Parties from and against any and all cost, damage, claim, liability or expense (including without limitation, attorney's fees) incurred by Landlord or any Landlord Parties, directly or indirectly, as a result of or in any way arising from Tenant Lender's exercise of its rights under the subordination of lien agreement, including without limitation, any entry upon the Premises by Tenant Lender; and (iii) require Tenant Lender to remove all personal property of Tenant subject to such lien and described in such subordination of lien agreement within ten (10) business days following Tenant Lender's first entry upon the Premises. It shall be a condition to Landlord's delivery of any subordination of lien agreement that (a) Tenant deliver to Landlord, simultaneously with Tenant's request for such subordination of lien agreement, a copy of the financing agreement with Tenant Lender (which may be redacted by Tenant to omit any information not reasonably relevant to the subordination of lien), a list of all personal property of Tenant subject to the lien of such Tenant Lender and any other information Landlord may reasonably request regarding such Tenant Lender and/or the financing provided by such Tenant Lender; and (b) Tenant reimburse Landlord, within ten (10) days following Landlord's written demand, for all reasonable costs and expenses incurred by Landlord in connection with Tenant's request for a subordination of lien agreement, including without limitation, all reasonable legal costs and expenses incurred in connection with the preparation, review and/or negotiation of the subordination of lien agreement- 23 - 26.

Subordination of Landlord’s Lien. Upon If any lender or other person holding a lien or security interest in any or all of Tenant's written request’s Property (each, a “Tenant Lender”) requests an access or occupancy agreement or the subordination of a “landlord lien” or any other right, title or interest Landlord may have in any of Tenant’s Property (“Landlord Agreement”), Landlord shall execute and deliver any such Landlord Agreement that is commercially reasonable in form and substance and otherwise reasonably acceptable to Landlord, and such Landlord Agreement must provide that: (a) any right of entry or occupancy by Tenant Lender after early termination of the Lease shall be for a period not to exceed sixty (60) days, provided Tenant Lender agrees to provide a subordination pay Base Rent and Additional Rent and complies with the terms and conditions of lien agreement pursuant this Lease during such period; (b) nothing contained in this Lease, the Landlord Agreement or any loan document with Tenant shall in any way encumber or otherwise affect Landlord’s fee simple interest in and to which Landlord will subordinate its statutory lien rights under Title 55the Leased Premises, Chapter 13 of the Code of Virginia in the personal property and that none of Tenant located within Lender’s collateral shall include the Land or Improvements or any other real property interests owned by Landlord with respect to the Leased Premises; (c) Tenant Lender shall restore the Leased Premises to the lien of any bona-fide third-party institutional lender (a "condition in which it existed prior to Tenant Lender"’s entry on the Leased Premises; (d) providing financing to Tenant for the operation of Tenant's business nothing contained in the Premises Landlord Agreement shall in any way be deemed or construed to amend, modify or alter any of the rights or obligations of Tenant and Landlord under this Lease, as between one another, and that this Lease shall continue unaltered and in full force and effect, as between Tenant and Landlord; (it being understood and agreed that e) nothing in this paragraph the Landlord Agreement shall be deemed or construed to grant Landlord constitute or effect a release or discharge of any lien rights other than those provided by Title 55, Chapter 13 of the Code obligations of Virginia Tenant under this Lease or any lien rights on property other than documents executed in connection with this Lease; (f) Landlord’s execution of the personal property Landlord Agreement shall not be deemed or construed to constitute any representation or any type of Tenant). The subordination joinder with any of lien agreement shall includethe representations, without limitation: (i) a covenant that warranties and agreements of Tenant in the loan agreements with Tenant Lender notify Landlord prior to entering the Premises and/or exercising or any rights under the subordination type of lien agreementacknowledgment or representation that any such representations and warranties are true, correct or complete; (iig) a covenant requiring any Tenant’s Property shall be deemed abandoned by Tenant Lender and Tenantto the extent remaining on the Leased Properties after the later of: expiration of the Term, jointly and severallyor sixty (60) days after the earlier termination of the Lease, to reimburse Landlord for and indemnify, defend and hold harmless Landlord and Landlord Parties from and against any and all cost, damage, claim, liability or expense (including without limitation, attorney's fees) incurred by Landlord or any Landlord Parties, directly or indirectly, as a result of or in any way arising from Tenant Lender's exercise ’s 60-day period of its rights under the subordination of lien agreement, including without limitation, any entry upon the Premises by Tenant Lenderoccupancy pursuant to this Section 38; and (iiih) require Tenant Lender to remove all personal property of Tenant subject to such lien the terms and described in such subordination of lien agreement within ten (10) business days following Tenant Lender's first entry upon the Premises. It shall be a condition to Landlord's delivery of any subordination of lien agreement that (a) Tenant deliver to Landlord, simultaneously with Tenant's request for such subordination of lien agreement, a copy conditions of the financing agreement with Tenant Lender (which may be redacted by Tenant to omit any information not reasonably relevant to the subordination of lien), a list of all personal property of Tenant subject to the lien of such Tenant Lender and any other information Landlord may reasonably request regarding such Tenant Lender and/or the financing provided by such Tenant Lender; and (b) Tenant reimburse Agreement being otherwise commercially reasonable in Landlord, within ten (10) days following Landlord's written demand, for all reasonable costs and expenses incurred by Landlord in connection with Tenant's request for a subordination of lien agreement, including without limitation, all reasonable legal costs and expenses incurred in connection with the preparation, review and/or negotiation of the subordination of lien agreement’s determination.

Subordination of Landlord’s Lien. Upon Tenant's written request, Landlord agrees to provide a subordination of lien agreement pursuant to which Landlord that it will subordinate its statutory to any conditional sales vendor, lessor, or lender of Tenant, any lien or ownership rights under Title 55Landlord may have in regard to any furniture, Chapter 13 trade fixtures, equipment, or other articles of the Code of Virginia in the personal property of from time to time installed by Tenant located within the Premises to the lien of any bona-fide third-party institutional lender (a "Tenant Lender") providing financing to Tenant for the operation of Tenant's business at its expense in the Premises or otherwise stored or located in, on or about the Premises (it being understood and agreed that nothing in this paragraph shall be deemed whether owned by or leased to grant Landlord any lien rights other than those Tenant) (collectively, "Tenant's Property"); provided by Title 55, Chapter 13 of the Code of Virginia or any lien rights on property other than the personal property of Tenant). The subordination of lien agreement shall include, without limitation: (i) a covenant that the Tenant Lender notify holder of such lien provide to Landlord prior a subordination agreement, in form reasonably satisfactory to entering Landlord and Landlord's counsel, which shall provide that such lienholder shall remove Tenant's Property from the Premises and/or exercising any rights under the subordination of lien agreement, (ii) a covenant requiring Tenant Lender and Tenant, jointly and severally, to reimburse Landlord for and indemnify, defend and hold harmless Landlord and Landlord Parties from and against any and all cost, damage, claim, liability or expense (including without limitation, attorney's fees) incurred by Landlord or any Landlord Parties, directly or indirectly, as a result of or in any way arising from Tenant Lender's exercise of its rights under the subordination of lien agreement, including without limitation, any entry upon the Premises by Tenant Lender; and (iii) require Tenant Lender to remove all personal property of Tenant subject to such lien and described in such subordination of lien agreement within ten (10) business days following Tenant Lender's first entry upon the Premises. It shall be a condition to Landlord's delivery of any subordination of lien agreement that (a) Tenant deliver to Landlord, simultaneously with Tenant's request for such subordination of lien agreement, a copy of the financing agreement with Tenant Lender (which may be redacted by Tenant to omit any information not reasonably relevant to the subordination of lien), a list of all personal property of Tenant subject to the lien of such Tenant Lender and any other information Landlord may reasonably request regarding such Tenant Lender and/or the financing provided by such Tenant Lender; and (b) Tenant reimburse Landlord, within ten (10) days following of Landlord's written demandnotice to such lienholder of Landlord's intent to exercise Landlord's lien upon the Tenant's Property, for all reasonable costs and expenses incurred by that should such lienholder fail to remove such Tenant's Property (or make other arrangements with respect thereto satisfactory to Landlord) within such ten (10) day period, then such subordination agreement shall be deemed null and void, and Landlord in connection shall be entitled to deal with Tenant's request for a subordination Property as it sees fit. Moreover, Landlord agrees that should any conditional sales vendor, lessor or lender of lien agreementTenant so require, including without limitationLandlord will execute any waiver of ownership rights which may be reasonably requested by any such conditional sales vendor, all lessor or lender of Tenant, in regard to any of Tenant's Property, and Landlord will utilize its reasonable legal costs efforts to cause its mortgagees to execute and expenses incurred in connection with the preparationdeliver such documentation as may be reasonably requested by any such conditional sales vendor, review and/or negotiation of the subordination of lien agreementlessor or lender.

Subordination of Landlord’s Lien. Upon Landlord agrees that, upon the request of any Person that shall be Tenant's written request’s lessor or secured lender with respect to Tenant’s Personal Property, Landlord agrees to provide shall negotiate in good faith for the purpose of executing and delivering a commercially reasonable subordination of lien agreement pursuant to which Landlord will subordinate its Landlord’s rights under Article 15 and Landlord’s statutory lien rights under Title 55rights, Chapter 13 of the Code of Virginia in the personal property of Tenant located within the Premises if any, and a consent and agreement with respect to the lien respective rights of Landlord and such Person regarding the interests, in, and the timing and removal of, any bona-fide third-party institutional lender Tenant’s Personal Property, inventory or equipment in which such Person has a security interest (a "Tenant Lender") providing financing the “Collateral”), in form and substance reasonably acceptable to Tenant for the operation of Tenant's business in the Premises (it being understood Landlord and agreed that nothing in this paragraph shall be deemed to grant Landlord any lien rights other than those provided by Title 55such Person, Chapter 13 of the Code of Virginia or any lien rights on property other than the personal property of Tenant). The so long as such subordination of lien and agreement shall include, without limitation: (i) a covenant that provides for the indemnification of Landlord against any claims by Tenant Lender notify Landlord prior to entering or any Person claiming through Tenant in connection with the Premises and/or exercising removal of any of the Collateral by such Person or the exercise of any rights under with respect thereto by such Person and any indemnity from all parties claiming an interest in the subordination Collateral against any claims arising from the disposal of lien agreementany Collateral once deemed abandoned, (ii) expressly excludes any claim by such Person to any right, title or interest in or to any Fixtures, (iii) provides for a covenant requiring reasonable, but in no event more than sixty (60) days after Notice from Landlord, time frame for the removal of such Collateral by such Person after the expiration of which such Collateral shall be deemed abandoned, and (iv) provides for, and shall condition such Person’s right to allow the Collateral to remain at the Leased Property on, the per diem payment of Minimum Rent due hereunder by such Person for each day following the date of the expiration or termination of this Agreement that Landlord permits such Person’s Collateral to remain in the Leased Property. Tenant Lender and Tenant, jointly and severally, to reimburse Landlord for and indemnify, defend and hold harmless Landlord and Landlord Parties from and against any and shall pay all cost, damage, claim, liability or expense costs (including without limitation, attorney's legal fees) incurred by Landlord or any Landlord Parties, directly or indirectly, as a result in connection with the negotiation of or in any way arising from Tenant Lender's exercise of its rights under the subordination of lien agreement, including without limitation, any entry upon the Premises by Tenant Lender; and (iii) require Tenant Lender to remove all personal property of Tenant subject to such lien and described in such subordination of lien agreement within ten (10) business days following Tenant Lender's first entry upon the Premises. It shall be a condition to Landlord's delivery of any subordination of lien agreement that (a) Tenant deliver to Landlord, simultaneously with Tenant's request for such subordination of lien agreement, a copy of the financing agreement with Tenant Lender (which may be redacted by Tenant to omit any information not reasonably relevant to the subordination of lienagreement(s), a list of all personal property of Tenant subject to the lien of such Tenant Lender and any other information Landlord may reasonably request regarding such Tenant Lender and/or the financing provided by such Tenant Lender; and (b) Tenant reimburse Landlord, within ten (10) days following Landlord's written demand, for all reasonable costs and expenses incurred by Landlord in connection with Tenant's request for a subordination of lien agreement, including without limitation, all reasonable legal costs and expenses incurred in connection with the preparation, review and/or negotiation of the subordination of lien agreementinvoice therefor.