Lessor Collateral Clause Samples

The 'Lessor Collateral' clause defines the assets or security interests that the lessor holds to protect its interests in a leasing arrangement. Typically, this clause outlines what property or financial guarantees the lessee must provide, such as a security deposit, a lien on leased equipment, or other forms of collateral. By specifying these requirements, the clause ensures that the lessor has recourse in the event of default or non-payment by the lessee, thereby reducing the lessor's financial risk and providing a clear mechanism for recovering losses.
Lessor Collateral. Upon the occurrence and continuance of any Loan Event of Default, Lessor will immediately upon receipt of all checks, drafts, cash or other remittances in payment of any of its accounts, contract rights or general intangible constituting part of Lessor Collateral, or in payment for any Lessor Collateral sold, transferred, leased or otherwise disposed of, or in payment or on account of its accounts, contracts, contract rights, notes, drafts, acceptances, general intangibles, choses in action and all other forms of obligation relating to any of Lessor Collateral so sold, transferred or otherwise disposed of, deliver any such items to Collateral Agent accompanied by a remittance report in form supplied or approved by Collateral Agent, such items to be delivered to Collateral Agent in the same form received, endorsed or otherwise assigned by Lessor where necessary to permit collection of items and, regardless of the form of such endorsement, Lessor hereby waives presentment, demand, notice of dishonor, protest and notice of protest.
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Related to Lessor Collateral

  • Lessor Liens No Lessor Liens (other than those created by the Operative Documents) exist on any Closing Date on the Leased Property, or any portion thereof, and the execution, delivery and performance by the Lessor of this Master Agreement or any other Operative Document to which it is or will be a party will not subject any Leased Property, or any portion thereof, to any Lessor Liens (other than those created by the Operative Documents).

  • Lessor's Lien To the fullest extent permitted by applicable law, Lessor is granted a lien and security interest on all Lessee’s personal property now or hereinafter placed in or upon the Leased Property, and such lien and security interest shall remain attached to such Lessee’s personal property until payment in full of all Rent and satisfaction of all of Lessee’s obligations hereunder; provided, however, Lessor shall subordinate its lien and security interest to that of any non-Affiliate of Lessee which finances such Lessee’s personal property or any non-Affiliate conditional seller of such Lessee’s personal property, the terms and conditions of such subordination to be satisfactory to Lessor in the exercise of reasonable discretion. Lessee shall, upon the request of Lessor, execute such financing statements or other documents or instruments reasonably requested by Lessor to perfect the lien and security interests herein granted. Lessee hereby authorizes Lessor to execute and file financing statements signed only be a representative of Lessor covering the security interest of Lessor in Lessee’s personal property.

  • B8 Property Where the Client issues Property free of charge to the Contractor such Property shall be and remain the property of the Client and the Contractor irrevocably licences the Client and its agents to enter upon any premises of the Contractor during normal business hours on reasonable notice to recover any such Property. The Contractor shall not in any circumstances have a lien or any other interest on the Property and the Contractor shall at all times possess the Property as fiduciary agent and bailee of the Client. The Contractor shall take all reasonable steps to ensure that the title of the Client to the Property and the exclusion of any such lien or other interest are brought to the notice of all sub-contractors and other appropriate persons and shall, at the Client’s request, store the Property separately and ensure that it is clearly identifiable as belonging to the Client.

  • Mortgaged Property The real property securing repayment of the debt evidenced by a Mortgage Note.

  • Collateral Each of the Banks represents to the Agent and each of the other Banks that it in good faith is not relying upon any "margin stock" (as defined in Regulation U) as collateral in the extension or maintenance of the credit provided for in this Agreement.