Leasehold Security Interest definition

Leasehold Security Interest means a security interest (benefiting Construction Lender) in Tenant's leasehold estate created by this Lease, which may be evidenced by, among other things, a leasehold deed of trust.
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Examples of Leasehold Security Interest in a sentence

  • To evidence the Assignment, MMB MANAGEMENT, LLC, a California limited liability company ("MMB"), ACD, MBA and CALIFORNIA WESTERN HOME FINANCING PARTNERS, a California limited partnership, entered into that certain Memorandum of Assignment of Lessee Interest Under Lease and Acknowledgement of Grant of Leasehold Security Interest dated December 3, 2008, which was recorded in the Official Records of Orange County, California, on December 3, 2008, as Instrument No. 2008000558260 (the "Memorandum").

  • In connection with such Construction Loan, Landlord hereby agrees that Tenant may, at Tenant's option, elect to have such Construction Lender receive either the "Leasehold Security Interest" or the "Equipment Security Interest," as those terms are set forth in Sections 5.5.1 and 5.5.2 of this Tenant Work Letter, respectively.

  • Tenant shall provide Landlord with a written notice (the "SI Election Notice") of such election and specifying the applicable security interest as either the Leasehold Security Interest or the Equipment Security Interest.

  • For purposes of the Lease and this Tenant Work Letter, the "Leasehold Security Interest" shall mean a security interest (benefiting Construction Lender) in Tenant's leasehold estate created by this Lease, which may be evidenced by, among other things, a leasehold deed of trust.