LANDLORD'S RIGHT TO REQUIRE COLLATERALIZATION Sample Clauses

LANDLORD'S RIGHT TO REQUIRE COLLATERALIZATION. Tenant shall have no obligation to provide Collateral at any time prior to March 1, 2001. On March 15, 2001, Landlord shall review the credit strength of Tenant, and if as a result of its review Landlord determines that any of the events listed below in this Section 24.1 as "Collateralization Triggers" have ------------ occurred with respect to Tenant, Tenant shall (i) execute a Collateral Notice in the form attached hereto as Exhibit K (the "Collateral Notice") and deposit --------- sufficient Collateral into the Collateral Fund (as defined in the Pledge Agreement) to cause the value of the Collateral Fund to equal one hundred and two percent (102%) of the aggregate Guaranteed Residual Value under the Lease Supplements in existence as of March 1, 2001, without reduction for the amount of Advances under the Lease which are then outstanding and (ii) deliver to Landlord an opinion of Borrower's counsel in form and substance reasonably acceptable to Landlord opining as to the perfection of the Collateral deposited into the Collateral Fund. Tenant hereby agrees to deposit the Collateral in accordance with the terms of the Pledge Agreement and this Section 24.1 no later ------------ than two (2) business days following Tenant's receipt of written notice from Landlord that the Collateral deposit is required. Tenant hereby agrees to deliver the legal opinion described above in accordance with this Section 24.1 ------------ no later than twenty (20) business days following receipt of written notice from Landlord that the Collateral deposit is required and Tenant's failure to do so will constitute an Event of Default under this Lease. Tenant agrees that in the event Landlord has required Tenant to collateralize the Lease pursuant to this Section 24.1, Tenant shall, as a ------------ condition to Landlord's obligation to enter into any Lease Supplements following March 1, 2001, deposit sufficient additional Collateral into the Collateral Fund to cause the value of the Collateral Fund to equal 102% of the aggregate Guaranteed Residual Value for all Lease Supplement, including such new Lease Supplement. Landlord's review of Tenant's credit strength and any determination by Landlord that a Collateralization Trigger has occurred with respect to Tenant for purposes of this Section 24.1, shall be based upon ------------ generally accepted accounting principles and upon the financial data contained in the most recent SEC quarterly filing made by Tenant on Form 10-Q or annu...
LANDLORD'S RIGHT TO REQUIRE COLLATERALIZATION. Landlord's Right to Require Collateralization........ 47

Related to LANDLORD'S RIGHT TO REQUIRE COLLATERALIZATION

  • LANDLORD'S RIGHT TO INSPECT Tenant shall permit Landlord and its authorized representatives to inspect the Leased Property, or any portion thereof, during usual business hours upon not less than forty-eight (48) hours’ notice and to make such repairs as Landlord is permitted or required to make pursuant to the terms of this Agreement, provided that any inspection or repair by Landlord or its representatives will not unreasonably interfere with Tenant’s use and operation of the Leased Property and further provided that in the event of an emergency, as determined by Landlord in its reasonable discretion, prior Notice shall not be necessary.

  • Landlord’s Right To Mortgage Tenant agrees to accept the premises subject to and subordinate to any existing or future mortgage or other lien, and Landlord reserves the right to subject premises to same. Tenant agrees to and hereby irrevocably grants Landlord power of attorney for Tenant for the sole purpose of executing and delivering in the name of the Tenant any document(s) related to the Landlord’s right to subject the premises to a mortgage or other lien.

  • Landlord’s Right to Enter Landlord and its agents and third party designees retain the right to enter the Leased Premises during normal business hours but shall give Tenant reasonable notice (except in the case of emergency when no notice shall be required) for the purpose of (i) inspecting the same; (ii) showing the Leased Premises to prospective purchasers, mortgagees or tenants, occupants, and/or licensees; (iii) making necessary alterations, additions or repairs (provided that any such alterations, additions or repairs shall be coordinated in advance with Tenant), and (iv) performing any of Tenant's obligations when Tenant has failed to do so, provided that Landlord and its agents and third party designees shall abide by Tenant's reasonable security measures and provided that access by Landlord and its agents and third party designees pursuant to this Paragraph 4.9 shall not materially and unreasonably interfere with Tenant's use of the Leased Premises. Landlord retains the right to enter the Leased Premises during normal business hours (or as otherwise agreed), subject to Tenant's reasonable security measures, for purposes of supplying any maintenance or services agreed to be supplied by Landlord. Landlord and its agents retain the right to enter the Common Areas at all times for any and all purposes, including, but not limited to (i) conducting Landlord's Environmental Response Activities; (ii) inspecting the exterior of the Building and the Common Areas; (iii) posting notices of nonresponsibility (and for such purposes Tenant shall provide Landlord at least fifteen (15) days' prior written notice of any work to be performed on the Leased Premises); and (iv) supplying any services to be provided by Landlord. Any entry into the Leased Premises or the Common Areas obtained by Landlord in accordance with this paragraph shall not under any circumstances be construed or deemed to be a forcible or unlawful entry into, or a detainer of, the Leased Premises, or an eviction, actual or constructive of, Tenant from the Leased Premises or any portion thereof, nor relieve Tenant of its obligations hereunder, nor constitute a breach of contract.

  • Landlord’s Rights Landlord, Agent and their respective agents, employees and representatives shall have the right to enter and/or pass through the Premises at any time or times upon reasonable prior notice (except in the event of emergency): (a) to examine and inspect the Premises and to show them to actual and prospective lenders, prospective purchasers or mortgagees of the Property or providers of capital to Landlord and its affiliates; and (b) to make such repairs, alterations, additions and improvements in or to all or any portion of either or both of the Premises and the Property, or the Property’s facilities and equipment as Landlord is required or desires to make. Landlord and Agent shall be allowed to take all materials into and upon the Premises that may be required in connection with any repairs, alterations, additions or improvements, without any liability to Tenant and without any reduction or modification of Tenant’s covenants and obligations hereunder; provided, however, that Landlord shall use reasonable efforts to limit interference with Tenant’s business operations and Tenant’s occupancy and use of the Premises. During the period of six months prior to the Expiration Date (or at any time, if Tenant has vacated or abandoned the Premises or is otherwise in default under this Lease), Landlord and its agents may exhibit the Premises to prospective tenants. Additionally, Landlord and Agent shall have the following rights with respect to the Premises, exercisable without notice to Tenant, without liability to Tenant, and without being deemed an eviction or disturbance of Tenant’s use or possession of the Premises or giving rise to any claim for setoff or abatement of Rent: (i) to designate and approve, prior to installation, all types of signs; (ii) to have pass keys, access cards, or both, to the Premises; and (iii) to decorate, remodel, repair, alter or otherwise prepare the Premises for reoccupancy at any time after Tenant vacates or abandons the Premises for more than 30 consecutive days or without notice to Landlord of Tenant’s intention to reoccupy the Premises.

  • Landlord’s Right to Cure If Landlord breaches any of its obligations under this Lease, Tenant shall notify Landlord in writing and shall take no action respecting such breach so long as Landlord promptly begins to cure the breach and diligently pursues such cure to its completion. Landlord may cure any default by Tenant; any expenses incurred shall become Additional Rent due from Tenant on demand by Landlord.