Common use of Waiver Notice; Partial Removal of Personal Property Clause in Contracts

Waiver Notice; Partial Removal of Personal Property. If Leasehold Mortgagee at any time delivers a notice to Landlord waiving the rights of Leasehold Mortgagee to remove the Personal Property from the Demised Property under any Lease (a “Waiver Notice”), then any Personal Property remaining at such Demised Property from and after the delivery of the Waiver Notice shall be deemed abandoned by Leasehold Mortgagee (and all Secured Parties) and shall become the sole property of Landlord, as between Leasehold Mortgagee and Landlord, free and clear of any security interest or other interest of Leasehold Mortgagee and any Secured Party. Any Waiver Notice shall be irrevocable. Notwithstanding the foregoing, if Leasehold Mortgagee at any time enters upon any Demised Property under a Lease for the purpose of removing any Personal Property (as described in Sections 5 and 6), Leasehold Mortgagee must remove all Personal Property from all such Demised Property (unless Landlord agrees, in writing, in its sole discretion, that some of the Personal Property may remain at such Demised Property), and any failure to do so by Leasehold Mortgagee shall be a breach by Leasehold Mortgagee under this Agreement and the removal of any such remaining Personal Property by Landlord thereafter shall be at Leasehold Mortgagee’s sole cost and expense.

Waiver Notice; Partial Removal of Personal Property. If Leasehold Mortgagee at any time delivers a notice to Landlord waiving the rights of Leasehold Mortgagee to remove the Personal Property from the Demised Property Properties under any Lease (a “Waiver Notice”), then any Personal Property remaining at such Demised Property Properties from and after the delivery of the Waiver Notice shall be deemed abandoned by Leasehold Mortgagee (and all Secured Parties) and shall become the sole property of Landlord, as between Leasehold Mortgagee and Landlord, free and clear of any security interest or other interest of Leasehold Mortgagee and any Secured Party. Any Waiver Notice shall be irrevocable. Notwithstanding the foregoing, if Leasehold Mortgagee at any time enters upon any Demised Property under a Lease for the purpose of removing any Personal Property (as described in Sections 5 and 6), Leasehold Mortgagee must remove all Personal Property from all such Demised Property Properties (unless Landlord agrees, in writing, in its sole discretion, that some of the Personal Property may remain at such Demised PropertyProperties), and any failure to do so by Leasehold Mortgagee shall be a breach by Leasehold Mortgagee under this Agreement and the removal of any such remaining Personal Property by Landlord thereafter shall be at Leasehold Mortgagee’s sole cost and expense.