Common use of Licensee Personal Property Security Interest Clause in Contracts

Licensee Personal Property Security Interest. Xxxxxxxx agrees and acknowledges that the State owns the fee simple title to the Licensed Area and that this SLA and the License granted herein are not real property interests but are personal property interests that Licensee may transfer and assign with the express written approval of the Judicial Council and the SPWB as provided herein. Licensee shall make all Lenders, or parties to any financing transaction, or equity holders aware that pursuant to Section 5.3, only with the prior written consent of the Judicial Council and the SPWB, may the personal property interests created by this SLA and the Lease be given or pledged as a security, and that any such pledge or security is subordinate to the Senior Security Documents as provided in Section 4.1. Any loan or other System financing agreements to be entered into by Licensee and any assignments of such agreements shall require that the Lender or equity financing beneficiary execute a Lender Estoppel Certificate within ten (10) Business Days of request by the Judicial Council or the SPWB substantially in the form of Exhibit L certifying, among other things, that the loan or other System financing agreements are subordinate to the Senior Security Documents. In addition, any Uniform Commercial Code (UCC) filing or other security filing by a Lender shall attach the executed Lender Estoppel Certificate.

Licensee Personal Property Security Interest. Xxxxxxxx agrees and acknowledges that the State owns the fee simple title to the Licensed Area and that this SLA and the License granted herein are not real property interests but are personal property interests that Licensee may transfer and assign with the express written approval of the Judicial Council and the SPWB as provided herein. Licensee shall make all Lenders, or parties to any financing transaction, or equity holders aware that pursuant to Section section 5.3, only with the prior written consent of the Judicial Council and the SPWB, may the personal property interests created by this SLA and the Lease SPPA be given or pledged as a security, and that any such pledge or security is subordinate to the Senior Security Documents as provided in Section section 4.1. Any loan or other System financing agreements to be entered into by Licensee and any assignments of such agreements shall require that the Lender or equity financing beneficiary execute a Lender Estoppel Certificate within ten (10) Business Days of request by the Judicial Council or the SPWB substantially in the form of Exhibit L certifying, among other things, that the loan or other System financing agreements are subordinate to the Senior Security Documents. In addition, any Uniform Commercial Code (UCC) filing or other security filing by a Lender shall attach the executed Lender Estoppel Certificate.

Licensee Personal Property Security Interest. Xxxxxxxx agrees and acknowledges that the State owns the fee simple title to the Licensed Area and that this SLA and the License granted herein are not real property interests but are personal property interests that Licensee may transfer and assign with the express written approval of the Judicial Council and the SPWB as provided herein. Licensee shall make all Lenders, or parties to any financing transaction, or equity holders aware that pursuant to Section 5.3, only with the prior written consent of the Judicial Council and the SPWB, may the personal property interests created by this SLA and the Lease SPPA be given or pledged as a security, and that any such pledge or security is subordinate to the Senior Security Documents as provided in Section 4.1. Any loan or other System financing agreements to be entered into by Licensee and any assignments of such agreements shall require that the Lender or equity financing beneficiary execute a Lender Estoppel Certificate within ten (10) Business Days of request by the Judicial Council or the SPWB substantially in the form of Exhibit L certifying, among other things, that the loan or other System financing agreements are subordinate to the Senior Security Documents. In addition, any Uniform Commercial Code (UCC) filing or other security filing by a Lender shall attach the executed Lender Estoppel Certificate.

Licensee Personal Property Security Interest. Xxxxxxxx agrees and acknowledges that the State owns the fee simple title to the Licensed Area and that this SLA and the License granted herein are not real property interests but are personal property interests that Licensee may transfer and assign with the express written approval of the Judicial Council and the SPWB as provided herein. Licensee shall make all Lenders, or parties to any financing transaction, or equity holders aware that pursuant to Section section 5.3, only with the prior written consent of the Judicial Council and the SPWB, may the personal property interests created by this SLA and the Lease SPPA be given or pledged as a security, and that any such pledge or security is subordinate to the Senior Security Documents as provided in Section section 4.1. Any loan or other System financing agreements to be entered into by Licensee and any assignments of such agreements shall require that the Lender or equity financing beneficiary execute a Lender Estoppel Certificate within ten (10) Business Days of request by the Judicial Council or the SPWB substantially in the form of Exhibit L certifying, among other things, that the loan or other System financing agreements are subordinate to the Senior Security Documents. In addition, any Uniform Commercial Code (UCC) filing or other security filing by a Lender shall attach the executed Lender Estoppel Certificate.. 11

Licensee Personal Property Security Interest. Xxxxxxxx Licensee agrees and acknowledges that the State owns the fee simple title to the Licensed Area and that this SLA and the License granted herein are not real property interests but are personal property interests that Licensee may transfer and assign with the express written approval of the Judicial Council and the SPWB as provided herein. Licensee shall make all Lenders, or parties to any financing transaction, or equity holders aware that pursuant to Section 5.3, only with the prior written consent of the Judicial Council and the SPWB, may the personal property interests created by this SLA and the Lease SPPA be given or pledged as a security, and that any such pledge or security is subordinate to the Senior Security Documents as provided in Section 4.1. Any loan or other System financing agreements to be entered into by Licensee and any assignments of such agreements shall require that the Lender or equity financing beneficiary execute a Lender Estoppel Certificate within ten (10) Business Days of request by the Judicial Council or the SPWB substantially in the form of Exhibit L certifying, among other things, that the loan or other System financing agreements are subordinate to the Senior Security Documents. In addition, any Uniform Commercial Code (UCC) filing or other security filing by a Lender shall attach the executed Lender Estoppel Certificate.