Hypothecs Sample Clauses

The HYPOTHECS clause establishes a legal right for a creditor to secure a debt by designating specific property of the debtor as collateral, without transferring possession. In practice, this means that if the debtor defaults on their obligations, the creditor may have the right to seize or sell the hypothecated property to recover the owed amount. This clause is commonly used in civil law jurisdictions for securing loans against real estate or other valuable assets. Its core function is to provide creditors with a form of security interest, thereby reducing their risk and encouraging lending by ensuring there is a clear mechanism for debt recovery.
POPULAR SAMPLE Copied 1 times
Hypothecs. The Tenant will, within ten (10) days after notice from the Landlord remove or cause to be removed any legal hypothecs published or registered against the title of the Landlord or to the Building if such hypothec is as a result of work done by the Tenant or by anyone (other than the Landlord) on behalf of the Tenant. Notwithstanding the foregoing, if the Tenant is contesting in good faith the claim and cannot obtain a discharge without paying the creditor the claim being contested, the Tenant will provide security reasonably acceptable to the Landlord to cover one hundred and fifty percent (150%) of the amount being claimed. If the presence of such hypothec hinders a sale or a financing by the Landlord, the Tenant undertakes, within ten (10) days following a written request by the Landlord, to have the hypothec radiated failing which the Landlord may proceed with the radiation by paying the creditor who benefits from the charge, the whole at the Tenant’s cost. Notwithstanding any other provision set forth herein, the Tenant shall be permitted to ▇▇▇▇▇ ▇ ▇▇▇▇, mortgage, debenture, charge or encumbrance which may attach to the goods, trade fixtures, furnishings or equipment of the Tenant located in the Premises, excluding leasehold improvements (hereinafter collectively called the “Equipment”)so long as: (a) any such lien, mortgage, debenture, charge or encumbrance arises through any bona fide financing done by the Tenant in accordance with the Tenant’s normal business practice or by reason of any sale and leaseback agreement entered into by the Tenant for financing purposes with respect to the Equipment (excluding leasehold improvements); and (b) The Tenant is not in default under any such lien, mortgage, debenture, charge or encumbrance, or any such sale or leaseback agreement.
View SourceView Similar (2)
Hypothecs. At the option of the Landlord, this Lease shall be subject and subordinate to any and all hypothecs, charges and deeds of trust, which may now or at any time hereafter affect the Leased Premises in whole or in part, or the Property whether or not any such hypothec, charge or deed of trust affects only the Leased Premises or the Property or affects other premises as well. On request at any time and from time to time of the Landlord or of the hypothecary creditor, chargee or trustee under any such hypothec, charge or deed of trust, the Tenant shall promptly, at no cost to the Landlord or hypothecary creditor, chargee or trustee: (a) attorn to such hypothecary creditor, chargee or trustee and become its tenant of the Leased Premises or the tenant of the Leased Premises of any purchaser from such hypothecary creditor, chargee or trustee in the event of an exercise of any permitted power of sale contained in any such hypothec, charge or deed of trust for the then unexpired residue of the Term on the terms herein contained; and/or (b) postpone and subordinate this Lease to such hypothec, charge or deed of trust to the intent that this Lease and all right, title and interest of the Tenant in the Leased Premises shall be subject to the rights of such hypothecary creditor, chargee or trustee as fully as if such hypothec, charge or deed of trust had been executed and registered and the money thereby secured had been advanced before the execution of this Lease (and notwithstanding any authority or consent of such hypothecary creditor, or trustee, express or implied, to the making of this Lease). Any such attornment or postponement and subordination shall extend to all renewals, modifications, consolidations, replacements and extension of any such hypothec, charge or deed of trust and every instrument supplemental or ancillary thereto or in implementation thereof. The Tenant shall forthwith execute any instruments of attornment or postponement and subordination which may be so requested to give effect to this Section. Any such hypothecary creditor, chargee or trustee under any hypothec, charge or deed of trust may, at its option, subordinate its interest in such hypothec, charge or deed of trust to the interest of the Tenant in this Lease and the Leased Premises.
View SourceView Similar (2)
Hypothecs. 13.1 The Tenant will not make any action, or omit to commit an action reasonably required, nor require that any act or gesture be done that will have the effect to put the Lessor or its eligible party in default by virtue of any agreement entered into between the Lessor and any loaner of the Lessor benefiting from an hypothec on the immoveable where the leased premises are located, or any other guarantee on said immoveable. 13.2 The Tenant acknowledges that the immoveable is affected of an hypothec and accepts the presents as a valid signification of the lease transportation and of any rent relating to the lease in favor of the loaner pursuant to the Deed of Hypothec. Nevertheless, the Tenant will continue to pay the rent to the Lessor, as prescribed in the present lease until the Tenant is duly noticed by the loaner to pay it the rent or to any other person it designates. 13.3 The Tenant accepts to comply with all directives of the hypothecary loaner of the Lessor, concerning the payment of the rent and other obligations of the Tenant by virtue of this lease. 13.4 In order to guarantee the performance of all and each of its obligations by virtue of the presents, the Lessor waives a moveable hypothec without delivery of second rank for a value which equals the rent and the operation costs for the first year of the lease. The Tenant undertakes to sign any document and to behave and pose any action, in order to give full effect to the presents.
View Source
Hypothecs. Duly executed originals of the Hypothecs given by each Borrower, Canadian Subsidiary Guarantor, Ultimate Parent and each US Subsidiary Guarantor, and all instruments, documents and agreements executed pursuant thereto.
View Source
Hypothecs. An agreed English translation of each of the Hypothec, the Power of Attorney to Establish Hypothecs and the Power of Attorney to Sell, initialled by the Borrower and the Lender.
View Source
Hypothecs 
View SourceView Similar (4)

Related to Hypothecs

  • Security Interests The Seller has not authorized the filing of and is not aware of any financing statements against the Seller that includes a description of collateral covering any Receivable other than any financing statement relating to security interests granted under the Transaction Documents or that have been or, prior to the assignment of such Receivables hereunder, will be terminated, amended or released. This Agreement creates a valid and continuing security interest in the Receivables (other than the Related Security with respect thereto, to the extent that an ownership interest therein cannot be perfected by the filing of a financing statement) in favor of the Issuer which security interest is prior to all other Liens (other than Permitted Liens) and is enforceable as such against all other creditors of and purchasers and assignees from the Seller.

  • The Security Interests (a) In order to secure the full and punctual payment of the Secured Obligations in accordance with the terms thereof, and to secure the performance of all of the obligations of the Company hereunder and under the other Loan Documents, the Company hereby pledges, hypothecates, assigns by way of security, transfers and grants to the Collateral Agent for the ratable benefit of the Secured Parties a continuing security interest in and to all right, title and interest of the Company in and to the following property, whether now owned or existing or hereafter acquired or arising and regardless of where located (all being collectively referred to as the "Collateral"): (i) Accounts; (ii) Inventory; (iii) General Intangibles; (iv) Documents; (v) Instruments; (vi) Equipment; (vii) Investment Property; (viii) Deposit Accounts; (ix) The Collateral Account, all cash deposited therein from time to time, the Liquid Investments made pursuant to Section 5(e) and other monies and property of any kind of the Company in the possession or under the control of the Collateral Agent; (x) All books and records (including, without limitation, customer lists, marketing information, credit files, price lists, operating records, vendor and supplier price lists, sales literature, computer programs, printouts and other computer materials and records) of the Company pertaining to any of the Collateral; (xi) All Proceeds of, attachments or accessions to, or substitutions for, all or any of the Collateral described in clauses (i) through (x) hereof; PROVIDED, HOWEVER, the Collateral shall not include any Excluded Contracts. (b) The Security Interests are granted as security only and shall not subject the Collateral Agent or any other Secured Party to, or transfer or in any way affect or modify, any obligation or liability of the Company with respect to any of the Collateral or any transaction in connection therewith. (c) Notwithstanding anything herein or in the other Loan Documents to the contrary, to the extent this Agreement or any other Security Document purports to grant to the Collateral Agent a Lien in any License held directly or indirectly by the Company, the Borrower or any of the Borrower's subsidiaries, now owned or hereafter acquired, the Collateral Agent shall only have a Lien in such Licenses at such times and to the extent that a Lien in such Licenses is permitted under applicable law; PROVIDED, that any such Lien shall to the extent permitted by applicable law be deemed effective as of the later of (i) the Effective Date or (ii) the date on which the Company was assigned, or acquired control over, the applicable License.

  • Deeds If a deed provided in the Property File with respect to the Property does not initially consist of a certified copy of the original conforming recorded deed from the applicable recording office, then Borrower shall post a copy such a deed to the Property File within three hundred sixty (360) days following the date hereof.

  • Mortgages The Issuer and the Subsidiary Guarantors shall use commercially reasonable efforts to deliver to the Trustee and the Collateral Agent as promptly as reasonably practicable after the Issue Date, but in any event within 120 days of the Issue Date, (a)(i) counterparts of each Mortgage or an amendment to each existing Mortgage granted to the Collateral Agent (a “Mortgage Amendment”), as applicable, to be entered into with respect to each Real Property that also secures the other First Priority Lien Obligations, duly executed and delivered by the record owner of such Real Property sufficient to grant to the Collateral Agent, for its benefit and the benefit of the Trustee and the holders of the Securities a valid first priority mortgage lien on such Real Property and otherwise suitable for recording or filing which Mortgage or Mortgage Amendment, as applicable, may be in a form consistent with such mortgages securing the other First Priority Lien Obligations previously delivered and shall otherwise be in form and substance acceptable to the Collateral Agent and (ii) opinions and such other documents including, but not limited to, any consents, agreements and confirmations of third parties with respect to any such Mortgage or Mortgage Amendment, as applicable, in each case consistent in form and substance with such documents as have been previously delivered in connection with the other First Priority Lien Obligations, and (b) title insurance policies or title insurance date-down endorsements, as applicable, in each case consistent in form and substance with such title insurance policies as have been previously delivered in connection with the other First Priority Lien Obligations, and paid for by the Company, issued by a nationally recognized title insurance company (which may be the same as the title insurance company or companies insuring the mortgages securing the other First Priority Lien Obligations) insuring the lien of each Mortgage or Mortgage Amendment, as applicable, as a valid first priority Lien on such Real Property to be entered into on or after the Issue Date as a valid Lien on the applicable property described therein, free of any other Liens, except for Permitted Liens, together with such customary endorsements, and with respect to any such property located in a state in which a zoning endorsement is not available, a zoning compliance letter from the applicable municipality in a form acceptable to the Collateral Agent.

  • No third party Security Interests Without limiting the generality of Clause 10.6, at the time of the execution and delivery of each Finance Document: (a) the Borrower will have the right to create all the Security Interests which that Finance Document purports to create; and (b) no third party will have any Security Interest (except for Permitted Security Interests) or any other interest, right or claim over, in or in relation to any asset to which any such Security Interest, by its terms, relates.