Lien of Lessor for Rent, Taxes and Other Sums Sample Clauses

Lien of Lessor for Rent, Taxes and Other Sums. Lessor shall have and Lessee hereby grants, a security interest in any furnishings, equipment, fixtures, inventory, accounts receivable, or other personal property of any kind belonging to Lessee, or the equity of Lessee herein, located on or derived from activities conducted in or upon the Demised Premises. The security interest is granted for the purpose of securing the payment of Minimum Rent, Percentage Rent, other charges, assessments, penalties and damages herein covenanted to be paid by Lessee, and for the purpose of securing the performance of all other obligations of the Lessee hereunder. Upon Lessee's default or breach of any covenants of this Lease, Lessor shall have all remedies available under the laws of the State where the Demised Premises are located, including, but not limited to, the right to take possession of the above-mentioned property and dispose of it by sale in a commercially reasonable manner. Lessee hereby agrees to sign a Financing Statement at Lessor's request for the purpose of serving notice to third parties of the security interest herein granted.