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HOKU » Topics » 12.10 Financing of FF&E; Waiver of Landlords Lien.

This excerpt taken from the HOKU 8-K filed Mar 28, 2007.

12.10 Financing of FF&E; Waiver of Landlord’s Lien.

Within ten (10) business days after written request from Tenant, Landlord shall execute and deliver any document reasonably required by any supplier, lessor, or lender in connection with the granting, creating, or perfecting by Tenant of a security interest in and to the Leasehold Improvements, Tenant’s leasehold interest under this Lease and/or Tenant’s personal property, and/or any trade fixtures, furniture, fixtures and equipment, inventory, signs or other personal property installed by Tenant, subtenant or Transferee, and any proceeds therefrom, pursuant to which Landlord shall waive, or subordinate, as the case may be, any rights it may have or acquire with respect to such items, and any proceeds therefrom.

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