Common use of Existing Security Instruments Clause in Contracts

Existing Security Instruments. The Lease is subject and subordinate to all Security Instruments existing as of the Effective Date. However, if any Lender so requires, this Lease shall become prior and superior to any such Security Instrument.

Appears in 3 contracts

Sources: Lease Agreement (American Science & Engineering Inc), Lease Agreement (Omnicell Inc /Ca/), Building Lease Agreement (Drexler Technology Corp)