LANDLORD'S LIEN Sample Clauses
A Landlord's Lien clause grants the landlord a legal right or claim over the tenant's personal property located on the leased premises as security for unpaid rent or other obligations. In practice, this means that if the tenant defaults on rent payments, the landlord may seize or retain the tenant's belongings until the debt is settled. This clause primarily serves to protect the landlord's financial interests by providing a means to recover unpaid amounts, thereby reducing the risk of loss due to tenant nonpayment.
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LANDLORD'S LIEN. A. In addition to and cumulative of any statutory or constitutional lien to which Lessor may be entitled, Lessor shall have a lien as security for rents and other covenants of Lessee herein on Lessee’s Property; provided, however, Lessor acknowledges and agrees that any statutory or constitutional liens of Lessor and the lien granted to Lessor pursuant to this Section 22 (collectively, “Lessor’s Liens”) are subordinate to any and all properly perfected liens now or hereafter held by any of Lessee’s lenders, including all renewals, modifications, and extensions thereof. The subordination herein provided shall be self-operative and no further instrument of subordination shall be required; provided, however, within ten (10) business days following any request therefor, Lessor agrees to execute and deliver to Lessee or any of Lessee’s lenders any instrument reasonably requested to evidence such subordination. Lessor hereby appoints Lessee as its true and lawful agent and attorney-in-fact (“Attorney-in-Fact”) for the Lessor and in the Lessor’s name, place and stead for the sole purpose of executing and delivering all documents and to take such action as is deemed necessary to evidence subordination of Lessor’s Liens in the event Lessor fails to execute and deliver such instrument as herein required. If Lessee is in default under this Lease, or if Lessee abandons or vacates the Leased Premises, Lessor may enter upon the Leased Premises, by any means whatsoever, and take possession of all or any part of the Lessee’s Property, and store same at the expense of Lessee. Lessor will relinquish its possession of any of Lessee’s Property that is subject to a superior lien described above upon the written request of the holder of such superior lien. Subject to the rights of superior lien holders, Lessor may sell Lessee’s Property at a public or private sale to the highest bidder for cash thirty (30) days after written notice of such sale has been mailed to Lessee at its last known address. The proceeds of any such sale shall be first applied by Lessor to the cost of such sale and then to the payment of all sums due by Lessee to Lessor under the terms of this Lease. Any surplus shall be mailed to Lessee at its last known address. It is agreed that none of the above procedures shall necessitate prior judicial hearing.
B. This Lease is intended as and constitutes a security agreement within the meaning of the Texas Business and Commerce Code. Lessor, in addition to the righ...
LANDLORD'S LIEN. Tenant hereby grants to Landlord a security interest in all goods, inventory, furniture, equipment, trade fixtures and personal property (collectively, “Tenant’s Property”) belonging to Tenant which are or may be placed in the Premises during the term of this Lease together with all proceeds of the foregoing. Said security interest shall secure all amounts payable by Tenant hereunder, including all costs of collection and any other indebtedness of Tenant to Landlord. Upon the occurrence of a default by Tenant hereunder which is not cured within any applicable cure period, Landlord may, in addition to and not in lieu of any other remedies set forth herein, enter upon the Premises, by force if necessary, and take possession of Tenant’s Property without liability for trespass or conversion, and sell Tenant’s Property, or any part thereof, with or without notice to Tenant, at public or private sale, with or without having Tenant’s Property at such sale and Landlord or its assignee may purchase and apply the proceeds thereof, less any expenses incurred in connection with taking possession and selling Tenant’s Property, as a credit against any sums due by Tenant to Landlord pursuant hereto. Any surplus remaining after a sale shall be paid to Tenant and any deficiency shall be immediately paid to Landlord by Tenant. Within seven (7) days after Landlord’s request therefor, Tenant shall execute any financing statement or security agreement Landlord deems necessary to perfect such security interest in Tenant’s Property. The lien granted hereunder shall be in addition to any Landlord’s lien that may now or at any time hereafter be provided by law.
LANDLORD'S LIEN. In addition to any statutory landlord’s lien and in order to secure payment of the Rent and all other sums payable hereunder by Tenant, and to secure payment of any loss, cost or damage which Landlord may suffer by reason of Tenant’s breach of this Agreement, Tenant hereby grants unto Landlord, to the maximum extent permitted by Applicable Law, a security interest in and an express contractual lien upon Tenant’s Personal Property (except motor vehicles), and Tenant’s interest in all ledger sheets, files, records, documents and instruments (including, without limitation, computer programs, tapes and related electronic data processing) relating to the operation of the Facilities (the “Records”) and all proceeds therefrom, subject to any Permitted Encumbrances; and such Tenant’s Personal Property shall not be removed from the Leased Property at any time when an Event of Default has occurred and is continuing. Upon Landlord’s request, Tenant shall execute and deliver to Landlord financing statements in form sufficient to perfect the security interest of Landlord in Tenant’s Personal Property and the proceeds thereof in accordance with the provisions of the applicable laws of the State. During the continuance of an Event of Default, Tenant hereby grants Landlord an irrevocable limited power of attorney, coupled with an interest, to execute all such financing statements in Tenant’s name, place and stead. The security interest herein granted is in addition to any statutory lien for the Rent.
LANDLORD'S LIEN. 19.1 TENANT HEREBY GRANTS TO LANDLORD A FIRST AND PRIOR LIEN AND SECURITY INTEREST ON ALL PROPERTY OF TENANT, INCLUDING BUT NOT LIMITED TO ALL FIXTURES, MACHINERY, EQUIPMENT, FURNISHINGS, INVENTORY AND OTHER ARTICLES OF PERSONAL PROPERTY, NOW OR HEREAFTER PLACED IN OR UPON THE PREMISES, AND ALSO UPON THE PROCEEDS OF ANY INSURANCE WHICH MAY ACCRUE TO TENANT BY REASON OF DESTRUCTION OF OR DAMAGE TO ANY SUCH PROPERTY. WITHOUT LANDLORD’S PRIOR WRITTEN CONSENT, SUCH PROPERTY SHALL NOT BE REMOVED FROM THE PREMISES AT ANY TIME WHEN A DEFAULT EXISTS UNDER THIS LEASE. THIS LIEN AND SECURITY INTEREST SHALL SECURE TENANT’S PERFORMANCE HEREUNDER, AND SHALL BE IN ADDITION TO AND CUMULATIVE OF LANDLORD’S LIENS PROVIDED BY LAW. THIS LEASE SHALL CONSTITUTE A SECURITY AGREEMENT UNDER THE UNIFORM COMMERCIAL CODE SO THAT LANDLORD SHALL HAVE AND MAY ENFORCE A SECURITY INTEREST ON ALL OF SAID PROPERTY. UPON THE OCCURRENCE OF AN EVENT OF DEFAULT UNDER THIS LEASE, THIS LIEN MAY BE FORECLOSED WITH OR WITHOUT COURT PROCEEDINGS, BY PUBLIC OR PRIVATE SALE, AND LANDLORD SHALL HAVE THE RIGHT TO BECOME THE PURCHASER UPON BEING THE HIGHEST BIDDER AT SUCH SALE. UPON EXECUTION OF THIS LEASE, AND FROM TIME TO TIME THEREAFTER UPON LANDLORD’S REQUEST, TENANT SHALL EXECUTE AS DEBTOR SUCH FINANCING STATEMENTS OR EXTENSIONS OR CHANGE INSTRUMENTS AS LANDLORD MAY NOW OR HEREAFTER REQUEST IN ORDER THAT SUCH SECURITY INTEREST OR INTEREST MAY BE AND REMAIN PERFECTED PURSUANT TO SAID CODE. LANDLORD MAY AT ITS ELECTION AT ANY TIME FILE A COPY OF THIS LEASE AS A FINANCING STATEMENT. LANDLORD, AS SECURED PARTY, SHALL BE ENTITLED TO ALL OF THE RIGHTS AND REMEDIES AFFORDED A SECURED PARTY UNDER SAID UNIFORM COMMERCIAL CODE, WHICH RIGHTS AND REMEDIES SHALL IN ADDITION TO AND CUMULATIVE OF LANDLORD’S LIENS AND RIGHTS PROVIDED BY LAW OR BY THE OTHER TERMS AND PROVISIONS OF THIS LEASE.
LANDLORD'S LIEN. All property on the Premises is hereby subjected to a contractual landlord's lien, unless specifically waived by the Board, to secure payment of delinquent rent and other sums due and unpaid under this Lease, any and all exemption laws being hereby expressly waived in favor of such landlord's lien; and it is agreed that such landlord's lien shall not be construed as a waiver of any statutory or other lien given or which may be given to the Board but shall be in addition thereto. It is agreed by Concessionaire that in the event of default by Concessionaire hereunder the Board shall have the right, upon 30 days prior written notice, to sell Concessionaire's property found on the Premises at a public or private sale with proceeds of the sale applied first to the cost of the sale, then to the cost of storage of the property, if any, and then to the indebtedness of Concessionaire, with the surplus, if any, to be mailed to Concessionaire at the address herein designated. Concessionaire further agrees to hold harmless from and indemnify the Airport Board and the Cities of Dallas and Fort Worth including but not limited to: the Board's directors, officers, agents, employees, and the Cities' council-members, officers, agents and employees against any loss or damage or claim arising out of the action of the Board in pursuance of this paragraph, except for any loss, damage, or claim caused by the negligence or willful misconduct of the Board or its employees, acting within the course and scope of employment. The contractual lien granted hereunder is a security interest pursuant to the Texas Business and Commerce Code, and the Board shall have all rights and remedies of a secured party thereunder.
LANDLORD'S LIEN. In addition to any statutory lien for rent in Landlord's favor, Landlord shall have and Tenant hereby grants to Landlord a continuing security interest for all rentals and other sums of money becoming due hereunder from Tenant, upon all goods, wares, equipment, fixtures, furniture, inventory, accounts, contract rights, chattel paper and other personal property of Tenant situated on the Leased Premises, and such property shall not be removed therefrom without the consent of Landlord until all arrearages in rent as well as any and all other sums of money then due to Landlord hereunder shall first have been paid and discharged. In the event of a default under this Lease, Landlord shall have, in addition to any other remedies provided herein or by law, all rights and remedies under the Uniform Commercial Code, including without limitation the right to sell the property described in this Paragraph 16 at public or private sale upon five (5) days' notice to Tenant. Tenant hereby agrees to execute such financing statements and other instruments necessary or desirable in Landlord's discretion to perfect the security interest hereby created. Any statutory lien for rent is not hereby waived, the express contractual lien herein granted being in addition and supplementary thereto.
LANDLORD'S LIEN. Intentionally deleted.
LANDLORD'S LIEN. Each Lessee shall use reasonable efforts to discharge any lien or pledge created in favour of a vehicle garage which is in possession of any Lease Vehicle in relation to any maintenance work.
LANDLORD'S LIEN. As security for Lessee's payment of rent, damages and all other payments required to be made by this Lease, Lessee hereby grants to Lessor a lien upon all property of Lessee now or subsequently located upon the Leased Premises. If Lessee abandons or vacates any substantial portion of the Leased Premises or in default in the payment of any rentals, damages or other payments required to be made by this Lease or is in default of any other provision of this Lease, Lessor may enter upon the Leased Premises without liability for trespass, by picking or changing locks if necessary, and take possession of all or any part of the personal property, and may sell all or any part of the personal property at a public or private sale, in one or successive sales with or without notice, to the highest bidder for cash, and on behalf of Lessee, sell and convey all or part of their personal property to the highest bidder, delivering to the highest bidder all of Lessee's title and interest in the personal property sold him. The proceeds of the sale of the personal property shall be applied by Lessor toward the reasonable costs and expenses of the sale, including attorney's fees, and then toward the payment of all sums then due by Lessee to Lessor under the terms of this Lease; any excess remaining shall be paid to Lessee or any other person entitled thereto by law.
LANDLORD'S LIEN. Intentionally omitted.