Common use of Asset Based Lending Clause in Contracts

Asset Based Lending. Lessee shall have the right at any time to encumber all or any part of its interest in its inventory or trade fixtures in any Improvement placed on the Land with a lien to secure financing, and Lessor agrees to execute a waiver and such other agreements as such asset-based lender may reasonably request in connection with such financing. Lessee agrees that any such waiver by Lessor shall include a provision reasonably acceptable to Lessor to the effect that: (a) such lender shall have the right to remove such financed items only during the Term of the Lease and for a period of sixty (60) days after Lessor has given written notice to such lender that the Lease has terminated, for any reason; (b) if such lender undertakes such removal, such lender shall be obligated to repair, at such lender’s expense, any damage to the Improvements caused by the removal of any of such financed items; and (c) if such lender fails to remove such financed items during the Term of this Lease or within sixty (60) days after receiving written notice from Lessor of the termination of this Lease, such financed items shall be deemed to have been abandoned by such lender to Lessor.

Asset Based Lending. Lessee shall have the right at any time to encumber all or any part of its interest in its inventory or trade fixtures in any Improvement placed on the Land with a lien to secure financing, and Lessor agrees to execute a waiver and such other agreements as such asset-based lender may reasonably request in connection with such financing. Lessee agrees that any such waiver by Lessor shall include a provision reasonably acceptable to Lessor to the effect that: (a) such lender shall have the right to remove such financed items only during the Term of the Lease and for a period of sixty (60) days after Lessor has given written notice to such lender that the Lease has terminated, for any reason; (b) if such lender undertakes such removal, such lender shall be obligated to repair, at such lender’s 's expense, any damage to the Improvements caused by the removal of any of such financed items; and (c) if such lender fails to remove such financed items during the Term of this Lease or within sixty (60) days after receiving written notice from Lessor of the termination of this Lease, such financed items shall be deemed to have been abandoned by such lender to Lessor.

Asset Based Lending. Lessee shall have the right right, at any time time, to encumber all or any part of its interest in its the inventory or trade fixtures in any Improvement placed on the Land Leased Premises with a lien to secure financing, and Lessor agrees to execute a waiver and execute, subject to other provisions of this Lease, such waiver, subordination, or other agreements as any such asset-based lender may reasonably request in connection with such financing. Lessee agrees that any such Lessor's waiver by Lessor shall include a provision reasonably acceptable to Lessor to the effect that: that (ai) such asset based lender shall have the right to remove such financed items from the Leased Premises only during the Lease Term of the Lease and for a period of sixty (60) days after Lessor has given written notice to such lender that the Lease has been terminated, for any reason; (bii) if such lender undertakes such removal, such lender shall be obligated to repair, at such lender’s 's expense, any damage to the Improvements Leased Premises or the improvements thereon caused by the removal of any of such financed items; and (c) if such lender fails to remove such financed items during the Term of this Lease or within sixty (60) days after receiving written notice from Lessor of the termination of this Lease, such financed items shall be deemed to have been abandoned by such lender to Lessor.and