Examples of Landlord Lien State in a sentence
Use commercially reasonable efforts to deliver Lien Waivers for each of the Obligor’s leased locations that constitutes a Large Inventory Location and for each of the Obligor’s leased locations in a Landlord Lien State.
Schedule 3.05(c)(ii) sets forth, in all material respects, the address of all real property that is leased by the Loan Parties and their Subsidiaries as of the Closing Date in each Landlord Lien State on which Inventory included in the Borrowing Base is located with an aggregate Cost in excess of $700,000, together with a list of the lessor with respect to each such Lease.
There is no agreement, and no Grantor shall enter into any agreement or take any other action, that would restrict the transferability of any of the Collateral or otherwise impair or conflict with such Grantors’ obligations or the rights of the Collateral Agent hereunder; provided that entering into a lease arrangement with respect to Real Property located in a Landlord Lien State would not, in and of itself, violate this sentence.
There is no agreement, and no Grantor shall enter into any agreement or take any other action, that would restrict the transferability of any of the Collateral or otherwise impair or conflict with such Grantors’ obligations or the rights of the Collateral Agent hereunder; provided that entering into a lease arrangement with respect to Real Property located in a Landlord Lien State (as defined in the ABL Credit Agreement) would not, in and of itself, violate this sentence.
In the event the Loan Parties do not provide the Administrative Agent with a Collateral Access Agreement with respect to any Material Inventory Location or location in a Landlord Lien State, the Loan Parties acknowledge that the Administrative Agent may, in its Permitted Discretion, (i) not include Inventory at such location as Eligible Inventory or (ii) establish a Reserve in the amount of three months’ rent or other warehouse or comparable charges for such location.