Common use of Severable Property Clause in Contracts

Severable Property. Lessee may, at its expense, install, assemble or place on the Premises and remove and substitute any severable property used or useful in Lessee’s business, all as more particularly described in Exhibit D attached hereto and made a part hereof for all purposes (collectively, the “Severable Property”), and all such Severable Property shall be and remain the property of Lessee unless abandoned. Upon the written request of Lessee, Lessor will subordinate any of its claims or interests in the Severable Property to the lienholders or lessors of such Severable Property and provide a collateral access agreement substantially in the form attached hereto and made a part hereof for all purposes as Exhibit E.

Appears in 2 contracts

Sources: Lease Agreement (Gordmans Stores, Inc.), Lease Agreement (Gordmans Stores, Inc.)