Lien Waiver Agreement definition

Lien Waiver Agreement means an agreement which is executed in favor of Agent by a Person who owns or occupies premises at which any Collateral may be located from time to time and by which such Person shall waive any Lien that such Person may ever have with respect to any of the Collateral and shall authorize Agent from time to time to enter upon the premises to inspect or remove the Collateral from such premises or to use such premises to store or dispose of such Inventory.

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Lien Waiver Agreement means an agreement, in form and content reasonably satisfactory to Agent, which is executed in favor of Agent by a Person who owns or occupies premises at which any Collateral may be located from time to time in form and substance reasonably satisfactory to Agent.

Lien Waiver Agreement means an agreement in form and substance reasonably satisfactory to Agent which is executed in favor of Agent by a Person who owns or occupies premises at which any Collateral may be located from time to time.

Examples of Lien Waiver Agreement in a sentence

Maintain Inventory at any location other than a location which is owned, leased or utilized by a Borrower and, if so leased, and the Inventory thereon has a value in excess of $500,000 Borrower shall use commercially reasonably efforts to cause the lessor of such location shall have entered into a Lien Waiver Agreement or a Processor’s Agreement, as applicable.
Maintain Inventory at any location other than a location which is owned by a Borrower or leased by a Borrower and, if so leased, the lessor of such location shall have entered into a Lien Waiver Agreement on terms and conditions reasonably satisfactory to Agent.
Use commercially reasonable efforts to deliver to Agent executed Lien Waiver Agreements in favor of Agent for each location leased by a Loan Party with respect to which Revolver Agent has received or shall be receiving a Lien Waiver Agreement.
Each Loan Party shall use its commercially reasonable best efforts to obtain and deliver to the Administrative Agent within forty (45) days after the Closing Date an executed Lien Waiver Agreement from the lessor for each leased Collateral location where the value of the Collateral at such location is greater than $2,000,000.
For the avoidance of doubt, upon receipt of a Lien Waiver Agreement in form and substance satisfactory to Agent for any location of Borrowers, any rent reserve in effect that is attributable to such location shall be released.

More Definitions of Lien Waiver Agreement

Lien Waiver Agreement means any landlord’s waiver, bailee waiver or other lien waiver or subordination agreement, in form and substance reasonably satisfactory to the Lender, duly executed by the parties thereto.

Lien Waiver Agreement means an agreement which is executed in favor of the Collateral Agent and, in certain cases, the Revolving Loan Lender by a Person who owns or occupies premises at which any Collateral may be located from time to time, in form and substance reasonably satisfactory to the Collateral Agent and the Required Lenders.

Lien Waiver Agreement means an agreement which is executed in favor of Agent by a Person who owns or occupies premises at which any Collateral may be located from time to time, or who is in possession, custody, or control of any Collateral from time to time, in each case in form and substance reasonably satisfactory to Agent.

Lien Waiver Agreement means an agreement that each applicable Borrower shall cause to be executed within sixty (60) days after the Closing Date in favor of Agent by a Person who owns or occupies premises at which any books and records of any Borrower may be located from time to time in form and substance satisfactory to Agent, provided that, for the avoidance of doubt, each applicable Borrower shall only be required to use commercially reasonable efforts to obtain the foregoing; provided further that if Borrowers are unable to obtain a Lien Waiver Agreement for such location, Agent shall institute a Reserve in an amount equal to three (3) month’s rent for such location against the Formula Amount beginning on the sixtieth (60th) day after the Closing Date.

Lien Waiver Agreement means an agreement which is executed in favor of HSBC by a Person who owns or occupies premises at which any Collateral may be located from time to time and by which such Person shall waive any Lien that such Person may ever have with respect to any of the Collateral and shall authorize HSBC from time to time to enter upon the premises to inspect or remove the Collateral from such premises or to use such premises to store or dispose of such Inventory.

Lien Waiver Agreement means an agreement which is executed in favor of the Lender by a Person who owns or occupies premises at which Collateral may be located from time to time, in form and substance reasonably satisfactory to the Lender.

Lien Waiver Agreement means an agreement in form and substance reasonably acceptable to Agent which is executed in favor of Agent by a Person who owns or occupies premises at which any Collateral may be located from time to time and by which such Person shall waive (as set forth therein) any Lien that such Person may ever have with respect to any of the Collateral located at such premises and shall authorize Agent from time to time (as set forth therein) to enter upon the premises to inspect or remove such Collateral from such premises.