Lien Waiver Agreement definition

Lien Waiver Agreement means an agreement which is executed in favor of Agent by a Person who owns or occupies premises at which any Collateral may be located from time to time and by which such Person shall waive any Lien that such Person may ever have with respect to any of the Collateral and shall authorize Agent from time to time to enter upon the premises to inspect or remove the Collateral from such premises or to use such premises to store or dispose of such Inventory.

Lien Waiver Agreement means an agreement in form and substance reasonably satisfactory to Agent which is executed in favor of Agent by a Person who owns or occupies premises at which any Collateral may be located from time to time.

Lien Waiver Agreement means an agreement which is executed in favor of the Collateral Agent and, in certain cases, the Revolving Loan Lender by a Person who owns or occupies premises at which any Collateral may be located from time to time, in form and substance reasonably satisfactory to the Collateral Agent and the Required Lenders.

Examples of Lien Waiver Agreement in a sentence

• Maintain Inventory at any location other than a location which is owned, leased or utilized by a Borrower and, if so leased, and the Inventory thereon has a value in excess of $500,000 Borrower shall use commercially reasonably efforts to cause the lessor of such location shall have entered into a Lien Waiver Agreement or a Processor’s Agreement, as applicable.

• If Applicant does own any other properties in the City of St. Petersburg that have City Code Enforcement liens recorded against the property Applicant affirms that Applicant has entered into or will enter into a Revised Code Lien Waiver Agreement for all other properties with code enforcement liens prior to the release of any liens pursuant to this Agreement.

• If the Applicant owns other properties within the City of St. Petersburg on which there are code liens or active code violations the Applicant must correct the code violations or enter into a Revised Code Lien Waiver Agreement for those other properties prior to the release of the liens from the Property.

• Maintain Inventory at any location other than a location which is owned by a Borrower or leased by a Borrower and, if so leased, the lessor of such location shall have entered into a Lien Waiver Agreement on terms and conditions reasonably satisfactory to Agent.

• Use commercially reasonable efforts to deliver to Agent executed Lien Waiver Agreements in favor of Agent for each location leased by a Loan Party with respect to which Revolver Agent has received or shall be receiving a Lien Waiver Agreement.

More Definitions of Lien Waiver Agreement

Lien Waiver Agreement means an agreement which is executed in favor of Agent and Term Loan Agent by a Person who owns or occupies premises at which any Collateral may be located from time to time in form and substance reasonably satisfactory to Agent.

Lien Waiver Agreement means an agreement which is executed in favor of Agent by a Person who owns or occupies premises at which any Collateral may be located from time to time, or who is in possession, custody, or control of any Collateral from time to time, in each case in form and substance reasonably satisfactory to Agent.

Lien Waiver Agreement means an agreement that each applicable Borrower shall cause to be executed within sixty (60) days after the Closing Date in favor of Agent by a Person who owns or occupies premises at which any books and records of any Borrower may be located from time to time in form and substance satisfactory to Agent, provided that, for the avoidance of doubt, each applicable Borrower shall only be required to use commercially reasonable efforts to obtain the foregoing; provided further that if Borrowers are unable to obtain a Lien Waiver Agreement for such location, Agent shall institute a Reserve in an amount equal to three (3) month’s rent for such location against the Formula Amount beginning on the sixtieth (60th) day after the Closing Date.

Lien Waiver Agreement means any landlord’s waiver, bailee waiver or other lien waiver or subordination agreement, in form and substance reasonably satisfactory to the Lender, duly executed by the parties thereto.

Lien Waiver Agreement means an agreement which is executed in favor of HSBC by a Person who owns or occupies premises at which any Collateral may be located from time to time and by which such Person shall waive any Lien that such Person may ever have with respect to any of the Collateral and shall authorize HSBC from time to time to enter upon the premises to inspect or remove the Collateral from such premises or to use such premises to store or dispose of such Inventory.

Lien Waiver Agreement means an agreement, in form and substance satisfactory to Agent in its Permitted Discretion, which is executed in favor of Agent by a Person who (a) owns or subleases premises at which Collateral is located from time to time and by which such Person shall waive (or subordinate as to the Lien in favor of Agent contemplated hereby) any Lien that such Person may ever have with respect to such Collateral and shall authorize Agent from time to time to enter upon the premises to inspect or remove such Collateral from such premises or to use such premises to store or dispose of such Collateral for a limited time or (b) transports, holds or stores Collateral of a Borrower and by which such Person shall waive (or subordinate as to the Lien in favor of Agent contemplated hereby) any Lien, right of reclamation or other right that such Person may ever have with respect to such Inventory and shall agree to turn over to Agent such Inventory upon request from Agent; provided, Agent acknowledges and agrees that so long as no Event of Default exists, Agent shall not require Borrower to obtain Lien Waiver Agreements at locations other than (i) the primary corporate headquarters of Borrower where books and records are kept and (ii) all other premises of Borrower where Collateral valued in excess of $5,000,000 are located. For the avoidance of doubt, Agent may implement a rent reserve equal to up to three (3) times the monthly rent at each leased location of Borrower that is not subject to a Lien Waiver Agreement, or to the extent Borrower has provided Agent notice acceptable to Agent that a portion of the rent at any location has been prepaid, the portion of the rent that has not been prepaid for at least three (3) months.

Lien Waiver Agreement means an agreement, in form and substance satisfactory to Agent in its Permitted Discretion, which is executed in favor of Agent by a Person who (a) owns or subleases premises at which Collateral is located from time to time and by which such Person shall waive (or subordinate as to the Lien in favor of Agent contemplated hereby) any Lien that such Person may ever have with respect to such Collateral and shall authorize Agent from time to time to enter upon the premises to inspect or remove such Collateral from such premises or to use such premises to store or dispose of such Collateral for a limited time or (b) transports, holds or stores Inventory of a Borrower and by which such Person shall waive (or subordinate as to the Lien in favor of Agent contemplated hereby) any Lien, right of reclamation or other right that such Person may ever have with respect to such Inventory and shall agree to turn over to Agent such Inventory upon request from Agent.