Common use of Warehouseman’s Lien Clause in Contracts

Warehouseman’s Lien. Operator shall have a warehouseman’s lien upon such amount of Product in the Leased Facilities whose market value equals any amounts owed to Operator hereunder which have not been or are not paid when due under this Agreement (regardless of whether such amounts are owed for the Product then in the Leased Facilities). Customer shall provide ten (10) days’ advance written notice to Operator if it intends to transfer title to any Product at the Leased Facilities to a third party and promptly shall notify Operator in writing upon learning that a third party claims an interest in the Product at the Leased Facilities. Such notice will set forth the name and business address of the third party and the interest claimed.