Common use of Secured Parties Clause in Contracts

Secured Parties. Lessee may from time to time grant to certain lenders selected by Xxxxxx and its affiliates (the “Lenders”) a lien on and security interest in Xxxxxx’s interest in this Lease and all assets and personal property of Lessee located on the Leased Space (the “Personal Property”) as collateral security for the repayment of any indebtedness to the Lenders. Lessor hereby agrees to subordinate any security interest, lien, claim or other similar right, including, without limitation, rights of levy or distraint for rent, Lessor may have in or on the Personal Property, whether arising by agreement or by law, to the liens and/or security interests in favor of the Lenders, whether currently existing or arising in the future. Nothing contained herein shall be construed to xxxxx x xxxx upon or security interest in any of Lessor’s assets. Should Lender exercise any rights of Lessee under this Lease, including the right to exercise any renewal option(s) or purchase option(s) set forth in this Lease, Xxxxxx agrees to accept such exercise of rights by Xxxxxxx as if same had been exercised by Xxxxxx, and Lessor, by signing below, confirms its agreement with this provision. If there shall be a monetary default by Lessee under this Lease, Lessor shall accept the cure thereof by Lenders within fifteen (15) days after the expiration of any grace period provided to Lessee under this Lease to cure such default, prior to terminating the Lease. If there shall be a non-monetary default by Lessee under this Lease, Lessor shall accept the cure thereof by Lenders within thirty

Secured Parties. Lessee may from time to time grant to certain lenders selected by Xxxxxx Lessee and its affiliates (the “Lenders”) a lien on and security interest in XxxxxxLessee’s interest in this Lease and all assets and personal property of Lessee located on the Leased Space (the “Personal Property”) as collateral security for the repayment of any indebtedness to the Lenders. Lessor hereby agrees to subordinate any security interest, lien, claim or other similar right, including, without limitation, rights of levy or distraint for rent, Lessor may have in or on the Personal Property, whether arising by agreement or by law, to the liens and/or security interests in favor of the Lenders, whether currently existing or arising in the future. Nothing contained herein shall be construed to xxxxx x xxxx upon or security interest in any of Lessor’s assets. Should Lender exercise any rights of Lessee under this Lease, including the right to exercise any renewal option(s) or purchase option(s) set forth in this Lease, Xxxxxx Lessor agrees to accept such exercise of rights by Xxxxxxx Lenders as if same had been exercised by XxxxxxLessee, and Lessor, by signing below, confirms its agreement with this provision. If there shall be a monetary default by Lessee under this Lease, Lessor shall accept the cure thereof by Lenders within fifteen (15) days after the expiration of any grace period provided to Lessee under this Lease to cure such default, prior to terminating the Lease. If there shall be a non-monetary default by Lessee under this Lease, Lessor shall accept the cure thereof by Lenders within thirty

Secured Parties. Lessee may from time to time grant to certain lenders selected by Xxxxxx Lessee and its affiliates (the “LendersLender”) a lien on and security interest in Xxxxxx’s interest in this the Lease and all assets and personal property of Lessee located on the Leased Space Premises, including, but not limited to, all accounts receivable, inventory, goods, machinery and equipment owned by Lessee (the “Personal Property”) as collateral security for the repayment of any indebtedness to the LendersLender. Should Lender exercise any rights of Lessee under the Lease, Xxxxxx agrees to accept such exercise of rights by Xxxxxx as if it had been exercised by Xxxxxx, and Xxxxxx, by signing below, confirms its agreement with this provision. If there shall be a monetary default by Lessee under the Lease, Lessor shall accept the cure thereof by Lender within fifteen (15) days after the expiration of any grace period provided to Lessee under this Agreement to cure such default, prior to terminating the Lease. If there shall be a non- monetary default by Lessee under the Lease, Lessor shall accept the cure thereof by Lender within thirty (30) days after the expiration of any grace period provided to Lessee under the Lease to cure such default, prior to terminating the Lease. Hereafter, the Lease may not be amended in any respect which would be reasonably likely to have a material adverse effect on Xxxxxx’s interest therein or surrendered, terminated or cancelled, without the prior written consent of Xxxxxx. If the Lease is terminated as result of a Lessee default or is rejected in any bankruptcy proceeding, Lessor will enter into a new lease with Lender or its designee on the same terms as the Lease within 15 days of Lender’s request made within 30 days of notice of such termination or rejection, provided Lender cures all defaults under the Lease. The foregoing is not applicable to normal expirations of the term of the Lease. Lessor hereby agrees to subordinate any security interest, lien, claim or other similar right, including, without limitation, rights of levy or distraint for rent, Lessor may have in or on the Personal Property, whether arising by agreement or by law, to the liens and/or security interests in favor of the LendersLender, whether currently existing or arising in the future. Nothing contained herein shall be construed to xxxxx x xxxx upon or security interest in any of Lessor’s assets. Should Lender exercise Simultaneous with any rights notice of default given to Lessee under this Lease, including the right to exercise any renewal option(s) or purchase option(s) set forth in this Lease, Xxxxxx agrees to accept such exercise terms of rights by Xxxxxxx as if same had been exercised by Xxxxxx, and Lessor, by signing below, confirms its agreement with this provision. If there shall be a monetary default by Lessee under this the Lease, Lessor shall accept provide a copy of such notice to Lender as provided by Section 16 of the cure thereof by Lenders within fifteen (15) days after Lease if Lessee or Lender has provided notice of the expiration of any grace period provided lien and Xxxxxx’s address to Lessee under this Lease to cure such default, prior to terminating the LeaseLessor. If there shall be a non-monetary default by Lessee under this Lease, Lessor shall accept the cure thereof by Lenders within thirty..

Secured Parties. Lessee may from time to time grant to certain lenders selected by Xxxxxx Lessee and its affiliates (the “Lenders”) a lien on and security interest in XxxxxxLessee’s interest in this the Lease and all assets and personal property of Lessee located on the Leased Space (the “Personal Property”) as collateral security for the repayment of any indebtedness to the Lenders. Lessor hereby agrees to subordinate any security interest, lien, claim or other similar right, including, without limitation, rights of levy or distraint for rent, Lessor may have in or on the Personal Property, whether arising by agreement or by law, to the liens and/or security interests in favor of the Lenders, whether currently existing or arising in the future. Nothing contained herein shall be construed to xxxxx x xxxx upon or security interest in any of Lessor’s assets. Should Lender exercise any rights of Lessee under this the Lease, including the right to exercise any renewal option(s) or purchase option(s) set forth in this the Lease, Xxxxxx Lessor agrees to accept such exercise of rights by Xxxxxxx Lenders as if same had been exercised by XxxxxxLessee, and LessorLessee, by signing below, confirms its agreement with this provision. If there shall be a monetary default by Lessee under this the Lease, Lessor shall accept the cure thereof by Lenders within fifteen (15) days after the expiration of any grace period provided to Lessee under this the Lease to cure such default, prior to terminating the Lease. If there shall be a non-monetary default by Lessee under this the Lease, Lessor shall accept the cure thereof by Lenders within thirty