Common use of Subtenant’s Personal Property Clause in Contracts

Subtenant’s Personal Property. Landlord waives any statutory liens and rights of distress with respect to the personal property (non-affixed trade fixtures, equipment, inventory and merchandise) of each Subtenant from time to time located with the Premises, or applicable part thereof (“Subtenant’s Personal Property”). This Lease (and each sublease entered into between Master Tenant and a Subtenant) does not grant a contractual lien or any other security interest to Landlord or in favor of Landlord with respect to Subtenant’s Personal Property. In the event Landlord becomes the direct sublessor or landlord of a Subtenant, then, respecting any lender of any Subtenant having a security interest in any Subtenant’s Personal Property (“Subtenant’s Lender”), Landlord agrees: (i) to provide such Subtenant’s Lender, upon written request of a Subtenant (accompanied by the name and address of Subtenant’s Lender), with a copy of any default notice given to Subtenant under its sublease, concurrently with delivery of such default notice to Subtenant, and (ii) to allow Subtenant’s Lender, prior to any termination of the sublease or repossession by Landlord of the applicable premises subleased by such Subtenant, the same period of time, after its receipt of such copy of default notice, to cure such default as is allowed the Subtenant under its sublease, and (iii) to permit Subtenant’s Lender to enter the subleased premises for the purpose of removing Subtenant’s Personal Property anytime within thirty (30) days after the effective date of any termination of the applicable sublease or any repossession of the subleased premises by Landlord (with Landlord having given Subtenant’s Lender prior written notice of such date of termination or possession). Landlord will not be required to allow Subtenant’s Lender to enter the subleased premises after entry of judgment in a forcible entry and detainer action, but agree to delay the filing of any such forcible entry and detainer action for thirty (30) days after delivery of written notice of such action to Subtenant’s Lender, and will permit Subtenant’s Lender to enter the subleased premises for the purpose of removing Subtenant’s Personal Property any time within such thirty (30) days. Xxxxxxxx further agrees to execute and deliver such instruments reasonably requested by Subtenant’s Lender from time to time to evidence and effect this waiver and agreement of Landlord.

Subtenant’s Personal Property. Landlord waives any statutory liens and rights of distress with respect to the personal property (non-affixed trade fixtures, equipment, inventory and merchandise) of each Subtenant from time to time located with the Premises, or applicable part thereof (“Subtenant’s Personal Property”). This Lease (and each sublease entered into between Master Tenant and a Subtenant) does not grant a contractual lien or any other security interest to Landlord or in favor of Landlord with respect to Subtenant’s Personal Property. In the event Landlord becomes the direct sublessor or landlord of a Subtenant, then, respecting any lender of any Subtenant having a security interest in any Subtenant’s Personal Property (“Subtenant’s Lender”), Landlord agrees: (i) to provide such Subtenant’s Lender, upon written request of a Subtenant (accompanied by the name and address of Subtenant’s Lender), with a copy of any default notice given to Subtenant under its sublease, concurrently with delivery of such default notice to Subtenant, and (ii) to allow Subtenant’s Lender, prior to any termination of the sublease or repossession by Landlord of the applicable premises subleased by such Subtenant, the same period of time, after its receipt of such copy of default notice, to cure such default as is allowed the Subtenant under its sublease, and (iii) to permit Subtenant’s Lender to enter the subleased premises for the purpose of removing Subtenant’s Personal Property anytime within thirty (30) days after the effective date of any termination of the applicable sublease or any repossession of the subleased premises by Landlord (with Landlord having given Subtenant’s Lender prior written notice of such date of termination or possession). Landlord will not be required to allow Subtenant’s Lender to enter the subleased premises after entry of judgment in a forcible entry and detainer action, but agree to delay the filing of any such forcible entry and detainer action for thirty (30) days after delivery of written notice of such action to Subtenant’s Lender, and will permit Subtenant’s Lender to enter the subleased premises for the purpose of removing Subtenant’s Personal Property any time within such thirty (30) days. Xxxxxxxx Landlord further agrees to execute and deliver such instruments reasonably requested by Subtenant’s Lender from time to time to evidence and effect this waiver and agreement of Landlord.