Examples of Memorandum of Lease in a sentence
The Lessor shall have received satisfactory evidence of the payment of all recording and filing fees and taxes with respect to any recordings or filings made of each Memorandum of Lease and any UCC financing statements to be filed with the Secretary of State of Delaware (or other appropriate filing office).
Lessee hereby grants to the Lessor (or its counsel on its behalf) the permission and right to file, without the signature of the Lessee, any financing statements under the Uniform Commercial Code necessary to perfect the Lessor’s interest in the “collateral” under each Memorandum of Lease.
Lessee shall have caused each Memorandum of Lease to have been duly recorded.
On the Closing Date, for each Leased Property Lessor shall receive from the Title Insurance Company an alternative ALTA Loan Policy of Title Insurance (insuring the lien of the mortgage contained in the Memorandum of Lease) issued to Lessor and its successors and assigns in each case reasonably acceptable in form and substance to Lessor (collectively, the “Title Policy”).
In the event of an early termination as a result of Xxxxxx’s Default and vacation of the Leased Premises, Xxxxxx agrees that Landlord can unilaterally remove the Memorandum of Lease of record.