SECURITY FOR LEASE OBLIGATIONS Sample Clauses

SECURITY FOR LEASE OBLIGATIONS. 6.1 SECURITY FOR LESSEE'S OBLIGATIONS; PERMITTED PRIOR SECURITY INTERESTS.
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SECURITY FOR LEASE OBLIGATIONS. 26 6.1 Security for Lessee's Obligations................................................26 6.1.1 Security.................................................................26 6.1.2 Purchase-Money Security Interests and Equipment Leases...................27
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SECURITY FOR LEASE OBLIGATIONS. 6.1 Security for Lessee's Obligations; Permitted Prior Security Interests
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SECURITY FOR LEASE OBLIGATIONS. Notwithstanding the Security Deposit, if any, required to be posted by Tenant pursuant to Section 3.08, Tenant shall at all times maintain the Required Security Deposit in the minimum amounts as set forth in this Section 3.09. Tenant shall deliver to Landlord for the performance of Tenant’s obligations under this Lease a Letter of Credit in the amount of Three Million Dollars ($3,000,000) which shall be furnished and held under the same terms and conditions as set forth in Sections 3.08(b)-(c) (in the minimum amounts as set forth in this Section 3.09, the “Required Security Deposit”) except that this Required Security Deposit shall be held for the entire term of this Lease. On the fifth (5th) anniversary of the Commencement Date, the Required Security Deposit shall be reduced to One Million Five Hundred Thousand Dollars ($1,500,000) provided that there is then no monetary default which remains uncured or an Event of Default. From and after the fifth (5th) anniversary of the Commencement Date, the Required Security Deposit shall increase on every fifth (5th) year anniversary thereafter (up to and including the forty-fifth (45th) anniversary of the Commencement Date) by the amount of ten percent (10%) of the then Required Security Deposit. On every fifth (5th) anniversary of the Commencement Date after the forty-fifth (45th) anniversary of the Commencement Date through and including the Expiration Date, the Required Security Deposit shall be in an amount equal to the product of (i) the Required Security Deposit for the immediately preceding five (5) year period multiplied by (ii) the sum of one hundred percent (100%) plus the percentage increase in the Base Rent payable during the immediately preceding five (5) year period compared to the Base Rent payable during the five (5) year period commencing on the applicable fifth (5th) anniversary date upon which such Required Security Deposit is being determined (but in no event shall such percentage increase be less than zero (0)). In the event the Security Deposit is required to be posted by Tenant after the fifth (5th) anniversary of the Commencement Date, the Required Security Deposit shall be applied towards such Security Deposit, provided that Tenant shall immediately deliver to Landlord any shortfall against the Security Deposit and provided further that the Security Deposit and Required Security Deposit (as aggregated in this last sentence of Section 3.09) shall at all times be maintained at the greater of ...
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SECURITY FOR LEASE OBLIGATIONS. 6.1 Security for Xxxxxx's Obligations; Permitted Prior Security Interests.
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SECURITY FOR LEASE OBLIGATIONS. 22 6.1 Security for Lessee's Obligations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 6.1.1 Security . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 6.1.2 Purchase-Money Security Interests, Receivables and Equipment Leases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
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SECURITY FOR LEASE OBLIGATIONS. The Collateral secures the prompt and complete payment when due and performance of all the Lease Obligations.
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SECURITY FOR LEASE OBLIGATIONS. 6.1 Security for Lessee's Obligations; Permitted Prior Security Interests . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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SECURITY FOR LEASE OBLIGATIONS 
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Related to SECURITY FOR LEASE OBLIGATIONS

  • Capital Lease Obligations With respect to any Person, the obligations of such Person to pay rent or other amounts under any Capitalized Lease.

  • Operating Lease Obligations On the Effective Date, none of the Loan Parties has any Operating Lease Obligations other than the Operating Lease Obligations set forth on Schedule 6.01(q).

  • Lease Obligations The Company shall not, and shall not suffer or permit any Subsidiary to, create or suffer to exist any obligations for the payment of rent for any property under lease or agreement to lease, except for:

  • Capitalized Lease Obligations Sale and Leaseback Transactions, export credit facilities with a maturity of at least one year and Purchase Money Indebtedness of, including Guarantees of any of the foregoing by, the Issuer and/or any Restricted Subsidiary, in an aggregate principal amount at any one time outstanding not to exceed U.S.$1 billion;

  • Capital Leases No Covered Person has an interest as a lessee under any Capital Leases other than Capital Leases that are Permitted Indebtedness.

  • Capital Lease Any lease of property (real, personal or mixed) which, in accordance with GAAP and Statement No. 13 of the Financial Accounting Standards Board, would be permitted or required to be capitalized on the lessee's balance sheet.

  • Recourse Obligations The Mortgage Loan documents for each Mortgage Loan (a) provide that such Mortgage Loan becomes full recourse to the Mortgagor and guarantor (which is a natural person or persons, or an entity or entities distinct from the Mortgagor (but may be affiliated with the Mortgagor) that collectively, as of the date of origination of the related Mortgage Loan, have assets other than equity in the related Mortgaged Property that are not de minimis) in any of the following events (or negotiated provisions of substantially similar effect): (i) if any petition for bankruptcy, insolvency, dissolution or liquidation pursuant to federal bankruptcy law, or any similar federal or state law, shall be filed by, consented to, or acquiesced in by, the Mortgagor; (ii) the Mortgagor or guarantor shall have solicited or caused to be solicited petitioning creditors to cause an involuntary bankruptcy filing with respect to the Mortgagor or (iii) voluntary transfers of either the Mortgaged Property or controlling equity interests in the Mortgagor made in violation of the Mortgage Loan documents; and (b) contains provisions for recourse against the Mortgagor and guarantor (which is a natural person or persons, or an entity or entities distinct from the Mortgagor (but may be affiliated with the Mortgagor) that collectively, as of the date of origination of the related Mortgage Loan, have assets other than equity in the related Mortgaged Property that are not de minimis), for losses and damages resulting from the following (or negotiated provisions of substantially similar effect): (i) the Mortgagor’s misappropriation of rents after an event of default, security deposits, insurance proceeds, or condemnation awards; (ii) the Mortgagor’s fraud or intentional material misrepresentation; (iii) breaches of the environmental covenants in the Mortgage Loan documents; or (iv) the Mortgagor’s commission of intentional material physical waste at the Mortgaged Property (but, in some cases, only to the extent there is sufficient cash flow generated by the related Mortgaged Property to prevent such waste).

  • Additional Costs in Respect of Letters of Credit Without limiting the obligations of the Borrower under the preceding subsections of this Section (but without duplication), if as a result of any Regulatory Change or any risk-based capital guideline or other requirement heretofore or hereafter issued by any Governmental Authority there shall be imposed, modified or deemed applicable any Tax (other than Indemnified Taxes, Taxes described in clauses (b) through (d) of the definition of Excluded Taxes and Connection Income Taxes), reserve, special deposit, capital adequacy or similar requirement against or with respect to or measured by reference to Letters of Credit and the result shall be to increase the cost to the Issuing Bank of issuing (or any Lender of purchasing participations in) or maintaining its obligation hereunder to issue (or purchase participations in) any Letter of Credit or reduce any amount receivable by the Issuing Bank or any Lender hereunder in respect of any Letter of Credit, then, upon demand by the Issuing Bank or such Lender, the Borrower shall pay immediately to the Issuing Bank or, in the case of such Lender, to the Administrative Agent for the account of such Lender, from time to time as specified by the Issuing Bank or such Lender, such additional amounts as shall be sufficient to compensate the Issuing Bank or such Lender for such increased costs or reductions in amount.

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