Right to Grant a Security Interest Sample Clauses

Right to Grant a Security Interest. Lessee or its successors and/or assigns may from time to time, without the prior written consent of Lessor, encumber the interest of Lessee or a successor and/or assignee in this Lease and the rights granted hereunder by one or more security instruments (a “Security Interest”), provided that any Security Interest and all rights acquired under it shall (i) be subject to each and all of the covenants, conditions and restrictions stated in this Lease, (ii) be subject to all rights and interests of Lessor and shall not constitute a lien against Xxxxxx's fee simple interest in the Property and (iii) shall be subordinate to the current or future mortgage lien of the Lessor's current or future mortgagee(s) subject to a non- disturbance agreement executed by such mortgagee and an attornment agreement by Xxxxxx, and further provided, that Lessee or an assignee shall promptly upon the execution of any Security Interest deliver a true copy thereof to Lessor. Without limiting the generality of the foregoing, nothing contained in such Security Interests shall release or be deemed to relieve Lessee from full and faithful observance and performance of the terms, covenants and conditions contained in this Lease to be observed and performed by Lessee or from any liability for the non-observance or non-performance of any of the terms and conditions hereof, nor be deemed to constitute a waiver of any rights of Lessor hereunder, except as expressly provided for herein, and further provided that such Security Interest shall be subordinate to the Security Interest referred to in paragraph 28 given to secure the full and faithful performance of this Lease, the AOBC Purchase Agreement and the Tax Agreement.
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Related to Right to Grant a Security Interest

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