Common use of Landlord’s Lien/Security Interest Clause in Contracts

Landlord’s Lien/Security Interest. Tenant hereby grants Landlord a security interest, and this Lease constitutes a security agreement, within the meaning of and pursuant to the Uniform Commercial Code of the state in which the Premises are situated as to all of Tenant’s property situated in, or upon, or used in connection with the Premises (except merchandise sold in the ordinary course of business) (collectively, the “Collateral”) as security for all of Tenant’s obligations hereunder, including the obligation to pay rent. Such personalty thus encumbered includes specifically all trade and other fixtures for the purpose of this Section 37 and inventory, equipment, contract rights, accounts receivable and the proceeds thereof. To the extent the UCC requires Landlord to give to Tenant notice of any act or event and such notice cannot be validly waived before a default occurs, then five-days’ prior written notice thereof shall be reasonable notice of the act or event. In order to perfect such security interest, Landlord may file any financing statement or other instrument necessary at the state and county Uniform Commercial Code filing offices. Tenant grants to Landlord a limited power of attorney solely to execute and file any financing statement or other instrument necessary to perfect Landlord’s security interest under this Section 37, which power is coupled with an interest and is irrevocable during the Term. Landlord may also file a copy of this Lease as a financing statement to perfect its security interest in the Collateral. Within ten days following written request therefor, Tenant shall execute financing statements to be filed of record to perfect Landlord’s security interest in the Collateral.

Landlord’s Lien/Security Interest. Tenant hereby grants Landlord a security interest, and this inter mmercial f the Lease constitutes a security agreement, within the meaning of and pursuant to the Uniform Commercial Code of the Com 1!, 714 state in which the Premises are situated as to all of Tenant’s 's property situated situate in, or uponu , r d pon or used use in connection with the Premises (except merchandise sold in the ordinary course of businessbuss) (collectively, the “Collateral”) as xx security for all of Tenant’s 's obligations hereunder, including including, without limitation, the obligation obligati n to pay rent. Such personalty thus encumbered includes to specifically all trade and other fixtures fixm~es s for the purpose of this Section 37 Paragraph and inventory, equipment, contract rights, accounts receivable and the proceeds thereof. To the extent the UCC requires Landlord to give to Tenant notice of any act or event and such notice cannot be validly waived before a default occurs, then five-days’ prior written notice thereof shall be reasonable notice of the act or event. In in order to perfect such security interest, Landlord may Tenant shall execute such financing st file any financing statement or other instrument necessary the same at Tenant's expense at the state and county Uniform Commercial Code filing officestatements and OFFIOFTEN AS Landlord IN ITS DISCRETIO SHALL REQUIRE. Tenant grants to mid TENANT HEREBY IRREVOCABLY APPOINTS LANDLORD ITS AGENT for the PULP- of executing mid filing SUCH financing statements on Tenant's BEHALF as Landlord a limited power of attorney solely to execute and file any financing statement or other instrument necessary to perfect Landlord’s security interest under this Section 37, which power is coupled with an interest and is irrevocable during the Term. Landlord may also file a copy of deem NECESSARY Nothing contained in this Lease shall be construed as a financing statement consent on the part of Lessor to perfect its security interest in subject the Collateral. Within ten days following written request therefor, Tenant e estate of Lessor to liability under the Flo xxxxxxx xxxerstood that the Lessor's estate shall execute financing statements to be filed of record to perfect Landlord’s security interest in the Collateral.not

Landlord’s Lien/Security Interest. Tenant hereby grants Landlord a security interest, and this Lease constitutes a security agreement, within the meaning of and pursuant to the Uniform Commercial Code of the state in which the Premises are situated as to all of Tenant’s 's property situated situate in, or upon, or used in connection with the Premises (except merchandise sold in the ordinary course of business) (collectively, the “"Collateral”") as security for all of Tenant’s 's obligations hereunder, including without limitation, the obligation to pay rent. Such personalty thus encumbered includes specifically all trade and other fixtures for the purpose of this Section 37 Paragraph 38 and inventory, equipment, contract rights, accounts receivable and the proceeds thereof. To the extent the UCC requires Landlord to give to Tenant notice of any act or event and such notice cannot be validly waived before a default occurs, then five-days’ prior written notice thereof shall be reasonable notice of the act or event. In order to perfect such security interestinterest simultaneously with the execution of this Lease, Tenant shall execute two (2) original financing statements in the form attached hereto as EXHIBIT B and Landlord may file any financing statement or other instrument necessary the same at Tenant's expense at the state and county Uniform Commercial Code filing offices. Tenant grants to Landlord a limited power of attorney solely further agrees to execute and file any such other financing statement or other instrument necessary statements as reasonably requested by Landlord to perfect further secure Landlord’s security 's interest under this Section 37, which power is coupled with an interest Paragraph 38 as often as Landlord in its discretion shall require; and is irrevocable during Tenant hereby irrevocably appoints Landlord its agent for the Term. Landlord may also file a copy purpose of this Lease as a financing statement to perfect its security interest in the Collateral. Within ten days following written request therefor, Tenant shall execute executing and filing such financing statements to be filed of record to perfect Landlord’s security interest in the Collateralon Tenant's behalf as Landlord shall deem necessary. NOTWITHSTANDING THE FOREGOING, LANDLORD HEREBY SUBORDINATES THE STATUTORY LIEN, AS WELL AS THE SECURITY INTEREST GRANTED TO IT UNDER THIS PARAGRAPH 38, TO ALL LOANS MADE BY A THIRD PARTY IN THE COLLATERAL, AND LANDLORD SHALL, AT TENANT'S EXPENSE, EXECUTE SUCH DOCUMENTATION TO EVIDENCE SUCH SUBORDINATION AS THE OWNER OF ANY THIRD PARTY LENDER UNDER ANY SUCH LOAN MAY REASONABLY REQUEST.

Landlord’s Lien/Security Interest. Tenant hereby grants Landlord a security interest, and this Lease constitutes a security agreement, within the meaning of and pursuant to the Uniform Commercial Code of the state in which the Premises are situated as to all of Tenant’s property situated situate in, or upon, or used in connection with the Premises (except merchandise sold in the ordinary course of business) (collectively, the “Collateral”) as security for all of Tenant’s obligations hereunder, including without limitation, the obligation to pay rent. Such personalty thus encumbered includes specifically all trade and other fixtures for the purpose of this Section 37 Paragraph 38 and inventory, equipment, contract rights, accounts receivable and the proceeds thereof. To the extent the UCC requires Tenant hereby irrevocably authorizes Landlord and/or Landlord’s agent to give to Tenant notice of any act or event and file such notice cannot be validly waived before a default occurs, then five-days’ prior written notice thereof shall be reasonable notice of the act or event. In Uniform Commercial Code filings as Landlord deems appropriate in order to perfect such security interest, Landlord may file any financing statement or other instrument necessary at the state and county Uniform Commercial Code filing offices. Tenant grants to Landlord a limited power of attorney solely further agrees to execute and file any such other financing statement or other instrument necessary statements as reasonably requested by Landlord to perfect further secure Landlord’s security interest under this Section 37Paragraph 38 as often as Landlord in its discretion shall require. Notwithstanding the foregoing, which power is coupled with an interest and is irrevocable during Landlord hereby subordinates the Term. Landlord may also file a copy of this Lease statutory lien, as a financing statement to perfect its well as the security interest in granted to it under this Paragraph 38 to investment bonds offered to third party investors or any commercial lender where the Collateral. Within ten days following written request thereforCollateral is required to secure a new loan or refinance of an existing loan and Landlord shall, Tenant shall at Tenant’s expense, execute financing statements such documentation to be filed evidence such subordination as the owner of record to perfect Landlord’s any such purchase money security interest in the Collateralmay reasonably request.

Landlord’s Lien/Security Interest. Landlord is not granted, nor does Landlord retain, any lien or security interest in the assets of Tenant hereby grants Landlord a security interestnow or hereinafter placed in or upon the Premises and, and this Lease constitutes a security agreement, within the meaning of and pursuant notwithstanding anything to the Uniform Commercial Code of the state contrary in which the Premises are situated as to all of this Lease, Landlord hereby waives any lien or security interest in Tenant’s property situated in, or upon, or used in connection with the Premises (except merchandise sold in the ordinary course of business) (collectively, the “Collateral”) as security for all of Tenant’s obligations hereunder, including the obligation to pay rent. Such personalty thus encumbered includes specifically all trade and other fixtures for the purpose of this Section 37 and inventory, equipment, contract rightstrade fixtures (including exercise equipment), furnishings, accounts receivable and any other property of Tenant at the proceeds thereofPremises that Landlord might otherwise have at law or in equity. Upon Txxxxx’s request, Lxxxxxxx shall execute Txxxxx’s lender’s or prospective lender’s commercially reasonable form of Landlord’s waiver and consent to remove collateral or subordination agreement; provided such form shall be subject to reasonable comments and revisions provided by Landlord. To the extent the UCC requires that Landlord to give to Tenant notice of and any act or event such Tenant’s lender have not entered into such a waiver and such notice cannot be validly waived before a default occurs, then five-days’ prior written notice thereof shall be reasonable notice of the act or event. In order to perfect such security interestconsent, Landlord may file hereby agrees that any financing statement Tenant lender shall have the right to access the Premises to possess or other instrument necessary repossess collateral granted by Tenant on Tenant’s property located at the state Premises, provided that such lender executes and county Uniform Commercial Code filing offices. Tenant grants delivers to Landlord a limited power of attorney solely to execute commercially reasonable indemnification agreement and file any financing statement or other instrument necessary to perfect satisfies Landlord’s security interest under this Section 37, which power is coupled with an interest and is irrevocable during the Term. Landlord may also file a copy of this Lease as a financing statement to perfect its security interest in the Collateral. Within ten days following written request therefor, Tenant shall execute financing statements to be filed of record to perfect Landlord’s security interest in the Collateralcommercially reasonable insurance requirements.