Security Interest and Occupancy of Companys Premises Clause Samples

The 'Security Interest and Occupancy of Company’s Premises' clause establishes the rights and obligations related to a party’s use of the company’s physical property and any security interests granted over it. Typically, this clause outlines the conditions under which a party may occupy or access the company’s premises, such as for storing collateral or conducting business operations, and details any security interests the company or a lender may hold in assets located on the premises. By clearly defining these terms, the clause helps prevent disputes over property rights and ensures that both parties understand their responsibilities regarding access, use, and security interests in the company’s physical assets.
Security Interest and Occupancy of Companys Premises. 2.1 Grant of Security Interest. Company hereby pledges, assigns and grants to ▇▇▇▇▇ Fargo, for the benefit of ▇▇▇▇▇ Fargo and as agent for ▇▇▇▇▇ Fargo Merchant Services, L.L.C., a Lien and security interest pursuant to Sections 364(c)(2) and 364(d) of the Bankruptcy Code (collectively referred to as the “Security Interest”) in the Collateral, as security for the payment and performance of all Indebtedness. Following request by ▇▇▇▇▇ Fargo, Company shall ▇▇▇▇▇ ▇▇▇▇▇ Fargo, for the benefit of ▇▇▇▇▇ Fargo and as agent for ▇▇▇▇▇ Fargo Merchant Services, L.L.C., a Lien and security interest in all commercial tort claims that it may have against any Person.
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Security Interest and Occupancy of Companys Premises. 2.1 Grant of Security Interest by Parent. Parent hereby pledges, assigns and grants to ▇▇▇▇▇ Fargo, for the benefit of ▇▇▇▇▇ Fargo and as agent for ▇▇▇▇▇ Fargo Merchant Services, L.L.C., a Lien and security interest (collectively referred to as the “Security Interest”) in such Person’s Collateral, as security for the payment and performance of all Indebtedness. Following request by ▇▇▇▇▇ Fargo, Parent shall ▇▇▇▇▇ ▇▇▇▇▇ Fargo, for the benefit of ▇▇▇▇▇ Fargo and as agent for ▇▇▇▇▇ Fargo Merchant Services, L.L.C., a Lien and security interest in all commercial tort claims that it may have against any Person. ▇▇ ▇▇▇▇▇▇▇ is contemporaneously herewith executing the Canadian Security Documents in favor of ▇▇▇▇▇ Fargo pursuant to which it shall pledge all of its assets to ▇▇▇▇▇ Fargo as security for the Indebtedness. Notwithstanding anything herein to the contrary, in no event shall the Security Interest attach to any lease, license, contract, property rights or agreement to which Parent is a party or any of its rights or interests thereunder if and for so long as the grant of such security interest would constitute or result in the abandonment, termination pursuant to the terms of, or a breach or default under, any such lease, license, contract, property rights or agreement (other than to the extent that any such term would be rendered ineffective pursuant to Sections 9.406, 9.407, 9.408 or 9.409 of the UCC (or any successor provision or provisions) of any relevant jurisdiction or any other applicable law or principles of equity); provided, however, that such Security Interest shall attach immediately at such time as the condition causing such abandonment, invalidation or unenforceability shall be remedied and to the extent severable, shall attach immediately to any portion of such lease, license, contract, property rights or agreement that does not result in any of the consequences specified above.
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Security Interest and Occupancy of Companys Premises. 2.1 Grant of Security Interest. Company hereby pledges, assigns and grants to ▇▇▇▇▇ Fargo, for the benefit of ▇▇▇▇▇ Fargo and as agent for ▇▇▇▇▇ Fargo Merchant Services, L.L.C. a Lien and security interest (collectively referred to as the "Security Interest") in the Collateral, as security for the payment and performance of the Indebtedness. Company shall notify ▇▇▇▇▇ Fargo in writing of, and hereby grants ▇▇▇▇▇ Fargo for the benefit of ▇▇▇▇▇ Fargo and as agent for ▇▇▇▇▇ Fargo Merchant Services, L.L.C. a Lien and security interest in, all commercial tort claims that it may have against any Person.
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Security Interest and Occupancy of Companys Premises 
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Related to Security Interest and Occupancy of Companys Premises

  • Possession and Occupancy The Seller will deliver possession and occupancy of the Property to the Buyer at Closing. The Seller shall provide access to all locks, including keys, remote controls, and any security/access codes, necessary to operate all locks, mailboxes, and security systems.

  • USE AND OCCUPANCY Tenant shall use and occupy the Demised Premises for the commercial purpose of [Description of commercial purpose] and related activities. The Demised Premises shall be used for no other purpose without the advance written consent of Landlord. Tenant shall operate the Demised Premises in a clean and dignified manner and in compliance with all applicable laws, regulations, rules, and ordinances. ☐ Tenant shall provide its own janitorial services. ☐ As agreed by both parties, Landlord shall provide janitorial services and shared costs will be included in the Operating Cost. Tenant shall use the Demised Premises for no unlawful purpose or act; shall commit or permit no waste or damage to the Demised Premises; shall, at Tenant’s expense, comply with and obey all applicable laws, regulations, or orders of any governmental authority or agency; shall not do or permit anything to be done in or about the Demised Premises which will in any way obstruct or interfere with the rights of other tenants or occupants of the Real Property; and shall comply with all the rules and requirements promulgated by Landlord with respect to the Real Property, as the same may be amended from time to time. Tenant agrees as follows: (Check all that apply) ☐ I. All loading and unloading, delivery and shipping of goods shall be conducted in such areas and through the entrances designated by Landlord. II. No window coverings, such as curtains, blinds or shades, shall be placed on the windows of Demised Premises unless approved by Landlord. III. No smoking in the Demised Premises or within feet or any doorway. ☐ IV. All garbage and refuse shall be kept in the size and kind of container, and in a location approved by Landlord. Tenant shall not burn any trash or garbage in or about the Real Property. V. No aerial, loudspeaker, satellite dish, sound amplifier, equipment, displays, or advertising shall be erected on the roof or exterior walls of the Demised Premises, or on other areas of the Real Property without the prior written consent of Landlord. VI. No loudspeaker, television, phonograph, juke-box, radio, or other device shall be used in a manner so as to be heard other than by persons who are within the Demised Premises without the prior written consent of Landlord. VII. No activity will take place on the Demised Premises or common areas which shall cause any odor which can be smelled other than by persons who are within the Demised Premises. VIII. Tenant shall keep the Demised Premises at a temperature sufficiently high to prevent freezing of water in pipes and fixtures. IX. Tenant shall not permit or place any obstructions or merchandise in any common areas, including but not limited to, corridors, all sidewalks in front of, on the side of, or in the back of the Demised Premises. X. The plumbing facilities in the Demised Premises shall not be used for any purpose other than that for which they are constructed, and no foreign substance of any kind shall be thrown therein, and the expense of any breakage, stoppage, or damage resulting from a violation of this provision shall be borne by Tenant. Tenant shall be responsible for the proper and lawful disposal of all cooking grease used within the Demised Premises. XI. Tenant shall keep all windows, window ▇▇▇▇▇, window frames and exterior signs of the Demised Premises clean. XII. No merchandise shall be stored in the Demised Premises except that which Tenant is selling in the normal course of business in, at, or from the Demised Premises. XIII. No auctions or tent sales shall be held within the Demised Premises or on or within any portion of the Real Property, except with the prior written consent of Landlord. XIV. Landlord shall have the right to prohibit the continued use by Tenant of any unethical or unfair method of business operation, advertising or interior display if, in Landlord’s opinion, the continued use thereof would impair the reputation of the Real Property as a first class facility or is otherwise out of harmony with the general character thereof, and upon notice from Landlord shall forthwith refrain from or discontinue such activities. XV. Tenant shall keep the Demised Premises (including without limitation, exterior and interior portions of all windows, doors and all other glass) in a neat, clean and sanitary condition, free of all insects, rodents, vermin and pests of every type and kind. XVI. Tenant shall not use the Demised Premises for any purpose or business which is noxious or unreasonably offensive because of the emission of noise, smoke, dust or odors. XVII. Tenant shall keep the entry ways and sidewalk/walkway in front of the Demised Premise clear of all debris, trash and litter, and shall keep the same swept, maintained and snow and ice removed therefrom.

  • Occupancy of the Mortgaged Property As of the related Closing Date the Mortgaged Property is lawfully occupied under applicable law. All inspections, licenses and certificates required to be made or issued with respect to all occupied portions of the Mortgaged Property and, with respect to the use and occupancy of the same, including but not limited to certificates of occupancy and fire underwriting certificates, have been made or obtained from the appropriate authorities. The Mortgagor represented at the time of origination of the Mortgage Loan that the Mortgagor would occupy the Mortgaged Property as the Mortgagor's primary residence;

  • POSSESSION AND OCCUPATION 7.1 Possession and occupation of the Property shall be taken by the Purchaser on the Possession Date, on which date all risk and benefit in respect thereof shall pass to the Purchaser. 7.2 The Seller shall use its best endeavours to ensure that the Property is available for occupation by the Estimated Possession Date. 7.3 Notwithstanding the aforesaid and should the Seller for whatsoever reason fail to give the Purchaser occupation of the Property by the Estimated Possession Date, the Purchaser acknowledges the fact that the Estimated Possession Date is only an estimated date and the Purchaser accordingly shall have no claim of whatsoever nature whether for cancellation or damages against the Seller as a result of such failure. 7.4 The Seller shall endeavour to give the Purchaser not less than 30 (thirty) days’ written notice of its intention to tender possession of the Property to the Purchaser. 7.5 Occupation of the Property by the Purchaser or anybody through the Purchaser shall not create a tenancy, that is to say, in the event of this Agreement being cancelled all rights to the occupation of the Property shall lapse and the Property shall be forthwith vacated. 7.6 The Purchaser acknowledges that all Sections within the Scheme may at the Transfer Date not be fully complete and that the Purchaser may suffer a slight inconvenience as a result. The Seller will however, prior to the Transfer Date, ensure that should such Sections in close proximity to the Property not be complete that it will be secured and closed off to limit any such inconvenience. 7.7 From the Possession Date until the Transfer Date the Purchaser shall - 7.7.1 keep the Property in good repair; 7.7.2 permit the Seller or its agent at all reasonable times to enter and inspect the Property subject thereto that the Purchaser has been given prior notice of any such intended inspection; 7.7.3 be responsible for all costs of electricity and water consumed on any part of the Property insofar as these may be separately metered; 7.7.4 be responsible for all obligations of an owner of a Section and the person holding exclusive use rights as set out in the Sectional Titles Act and the Sectional Titles Schemes Management Act; and 7.7.5 comply with all rules and regulations applicable to the Scheme. 7.8 The Purchaser hereby indemnifies the Seller and holds it harmless against any and all claims, expenses, liabilities and/or damages incurred or suffered by the Seller after the Possession Date.

  • The Premises 2.1.1 Subject to the terms hereof, Landlord hereby leases the Premises to Tenant and Tenant hereby leases the Premises from Landlord. Landlord and Tenant acknowledge that the rentable square footage of the Premises is as set forth in Section 1.2.2 and the rentable square footage of the Building is as set forth in Section 1.6; provided, however, that Landlord may from time to time re-measure the Premises and/or the Building in accordance with any generally accepted measurement standards selected by Landlord and adjust Tenant’s Share based on such re-measurement; provided further, however, that any such re-measurement shall not affect the amount of Base Rent payable for, the determination of Tenant’s Share with respect to, or the amount of any tenant allowance applicable to, the initial Term. At any time Landlord may deliver to Tenant a notice substantially in the form of Exhibit C, as a confirmation of the information set forth therein. Tenant shall execute and return (or, by notice to Landlord, reasonably object to) such notice within five (5) days after receiving it, and if Tenant fails to do so, Tenant shall be deemed to have executed and returned it without exception. 2.1.2 Except as expressly provided herein, the Premises are accepted by Tenant in their configuration and condition existing on the date hereof, without any obligation of Landlord to perform or pay for any alterations to the Premises, and without any representation or warranty regarding the configuration or condition of the Premises, the Building or the Project or their suitability for Tenant’s business. Landlord shall deliver the Premises to Tenant with the floors cleared of trash and swept and free from occupancy by any other party. The foregoing provisions of this Section 2.1.2 shall not limit Landlord’s obligations under Section 7 or Tenant’s rights under Section 6.3.