FINANCING BY TENANT Sample Clauses
The "Financing by Tenant" clause defines the conditions under which a tenant is permitted to obtain financing that is secured by its leasehold interest in the property. Typically, this clause outlines the requirements the tenant must meet, such as obtaining the landlord’s consent, providing notice, and ensuring that the financing does not negatively impact the landlord’s rights or the property itself. For example, it may specify that any lender’s rights are subject to the terms of the lease and that the landlord is not obligated to subordinate its interest. The core function of this clause is to balance the tenant’s ability to secure financing for its business or improvements while protecting the landlord’s interests and maintaining clear rights over the property.
FINANCING BY TENANT. The parties agree on the following regarding financing to be obtained by Tenant:
FINANCING BY TENANT. Landlord acknowledges and agrees that Tenant may grant a security interest in the personalty, furniture, trade fixtures and inventory owned by Tenant in the Premises to an institutional lender. Upon the grant of such security interest, Landlord shall, upon the request of Tenant, execute and deliver to Tenant a subordination agreement in the form of Exhibit D attached hereto.
FINANCING BY TENANT. (a) Landlord agrees that Tenant shall have the right to place one (1) or more deeds of trust, mortgages or similar security interests on all or any portion of Tenant's leasehold interest in the Leased Property and the Hospital Improvements in connection with the Loan; provided, however, and except as provided below Tenant shall have no right whatsoever to encumber Landlord's reversionary interest in the Premises and such security instrument shall encumber only Tenant's rights under this Lease and the leasehold estate created hereby. Notwithstanding any other provision of this Lease to the contrary, in the event Tenant shall obtain the Loan, Landlord, upon request by Tenant, shall subordinate this Lease and Landlord's interest therein and in the Leased Property to the Loan and shall timely execute any and all documents reasonably requested by the construction lender to evidence such subordination.
(b) In the event of a termination of this Lease prior to the expiration of the Term, for any reason other than Landlord's acquisition of the Hospital Improvements, Landlord, within fifteen (15) days prior to the termination of the Lease, shall serve upon Lender written notice of such termination, together with a statement of any and all sums which would be due under the Lease as of the date of notice (but for the termination of the Lease) and a description of any and all events of default. Within thirty (30) days from its receipt of the notice of termination, Lender shall have the option to obtain a new lease for the Leased Property by providing Landlord with written notice of its desire to exercise such option. Upon Landlord's receipt of such notice, Landlord shall enter into a new lease for the Leased Property with Lender which shall:
(i) Commence as of the date of the termination of the Lease, and shall be effective for the remainder of the Term, and contain all of the terms and conditions that were set forth in the Lease, including, but not limited to, those pertaining to rental payments; and
(ii) Require the tenant under the new lease to cure any monetary events of default under the terminated Lease. Landlord shall promptly take all actions necessary to evict Tenant or any other unauthorized party from the Leased Property and, subject to the rights of any sublessee, shall provide the tenant under the new lease with the sole and exclusive possession of the Leased Property upon execution of the new lease.
(c) For the benefit of Lender, Landlord agrees, subject ...
FINANCING BY TENANT. 13 1.9 Tenant's Right to Takeover.............................................................. 13
FINANCING BY TENANT. Tenant has advised Landlord that Tenant will obtain financing for its inventory in the Premises from an institutional lender ("Institutional Lender Financing"). If requested by Tenant, Landlord will execute such documents as are necessary to subordinate any liens conferred upon Landlord to the liens and security interests imposed upon Tenant's inventory by the Institutional Lender Financing.
FINANCING BY TENANT. The Landlord hereby releases any statutory lien that it may have on the furniture, fixtures and equipment owned by the Tenant which may be located from time to time within the Premises and which the Tenant is permitted to remove at the end of the Term of this Lease under the terms hereof. The Tenant may, at its option, grant a security interest in such furniture, fixtures and equipment. The Tenant may also, at its option, grant a deed of trust in its interest as Tenant under this Lease ("Leasehold Deed of Trust"). Upon the written request of the Tenant, the Landlord shall agree to provide written notice of any default hereunder to the beneficiary under any Leasehold Deed of Trust.