Common use of Warehouseman’s Lien Clause in Contracts

Warehouseman’s Lien. Without limitation as to any other rights or remedies available hereunder, the Company reserves the right to create, perfect and enforce a lien against all Goods stored by the Customer with the Company in the event that the Customer’s Storage Fees, premiums for insurance coverage (as set forth in paragraph 6) or any other fees due to the Company from the Customer remain in arrears for a period of one hundred twenty (120) days after the due date thereof. The Company may sell any Goods for which storage or other charges remain outstanding after such one hundred twenty (120) day period. The proceeds of such a sale shall be applied first to any expenses incurred with respect to the sale of any and all of the Customer’s Goods, and any efforts to collect such indebtedness and then to any indebtedness owing to the Company, or in any such other order that the Company, in its sole discretion, shall determine. Any excess shall be remitted to the Customer. The Customer waives all requirements of notice, advertisement and disposition of proceeds required by law with the regard to and in furtherance of the warehouseman’s lien.