{"id":1317,"date":"2012-06-20T13:00:00","date_gmt":"2012-06-20T13:00:00","guid":{"rendered":"https:\/\/www.sherin.com\/real-estate\/2012\/06\/20\/5-elements-to-include-in-collateral-assignment-of-leaselandlords-waiver\/"},"modified":"2017-03-21T19:48:21","modified_gmt":"2017-03-21T19:48:21","slug":"5-elements-to-include-in-collateral-assignment-of-leaselandlords-waiver","status":"publish","type":"post","link":"https:\/\/www.sherin.com\/real-estate\/2012\/06\/20\/5-elements-to-include-in-collateral-assignment-of-leaselandlords-waiver\/","title":{"rendered":"5 Elements to Include in Collateral Assignment of Lease\/Landlord’s Waiver"},"content":{"rendered":"

Landlords of commercial properties are often asked to sign a collateral assignment of lease and a waiver of the landlord\u2019s lien on a tenant\u2019s trade fixtures and equipment in favor of the tenant\u2019s equipment lender or franchisor.\u00a0 The usual form presented permits the lender\/franchisor to enter the leased premises in the event of a tenant default under its equipment loan or franchise agreement, in order to repossess equipment and trade fixtures.\u00a0 This may occur notwithstanding that such a default of tenant\u2019s loan arrangements is not a default under the lease.\u00a0 When coupled with a collateral assignment of lease, the lender\/franchisor will have a right to occupy the premises and to subsequently assign tenant\u2019s leasehold to a new tenant\/franchisee.<\/p>\n

From a landlord\u2019s perspective, there are several key elements to incorporate into these documents:<\/p>\n

    \n
  1. The obligation of the lender\/franchisor to remove the equipment and trade fixtures at, or promptly after, expiration of the lease;<\/li>\n
  2. The obligation of the lender\/franchisor to pay rent and other charges during its possession of the premises;<\/li>\n
  3. The obligation of the lender\/franchisor to restore any damage to the premises resulting from removal of equipment and trade fixtures;<\/li>\n
  4. The right of the landlord to approve any future tenant that lender\/franchisor may wish to take the place of the existing tenant; and<\/li>\n
  5. The continuing obligation of the existing tenant, notwithstanding the collateral assignment of the lease and any subsequent repossession or assignment of the lease by the lender\/franchisor.<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"

    Landlords of commercial properties are often asked to sign a collateral assignment of lease and a waiver of the landlord\u2019s lien on a tenant\u2019s trade fixtures and equipment in favor of the tenant\u2019s equipment lender or franchisor.\u00a0 The usual form presented permits the lender\/franchisor to enter the leased premises in the event of a tenant […]<\/p>\n","protected":false},"author":1,"featured_media":1777,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[1],"tags":[7,18],"class_list":["post-1317","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-commercial-real-estate","tag-leasing"],"acf":[],"yoast_head":"\n5 Elements to Include in Collateral Assignment of Lease\/Landlord's Waiver - Real Estate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.sherin.com\/real-estate\/2012\/06\/20\/5-elements-to-include-in-collateral-assignment-of-leaselandlords-waiver\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"5 Elements to Include in Collateral Assignment of Lease\/Landlord's Waiver - Real Estate\" \/>\n<meta property=\"og:description\" content=\"Landlords of commercial properties are often asked to sign a collateral assignment of lease and a waiver of the landlord\u2019s lien on a tenant\u2019s trade fixtures and equipment in favor of the tenant\u2019s equipment lender or franchisor.\u00a0 The usual form presented permits the lender\/franchisor to enter the leased premises in the event of a tenant […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.sherin.com\/real-estate\/2012\/06\/20\/5-elements-to-include-in-collateral-assignment-of-leaselandlords-waiver\/\" \/>\n<meta property=\"og:site_name\" content=\"Real Estate\" \/>\n<meta property=\"article:published_time\" content=\"2012-06-20T13:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-03-21T19:48:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.sherin.com\/real-estate\/wp-content\/uploads\/sites\/2\/2012\/06\/38391858_s.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"450\" \/>\n\t<meta property=\"og:image:height\" content=\"300\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Sherin and Lodgen\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Sherin and Lodgen\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.sherin.com\\\/real-estate\\\/2012\\\/06\\\/20\\\/5-elements-to-include-in-collateral-assignment-of-leaselandlords-waiver\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.sherin.com\\\/real-estate\\\/2012\\\/06\\\/20\\\/5-elements-to-include-in-collateral-assignment-of-leaselandlords-waiver\\\/\"},\"author\":{\"name\":\"Sherin and Lodgen\",\"@id\":\"https:\\\/\\\/www.sherin.com\\\/real-estate\\\/#\\\/schema\\\/person\\\/d3993443b0c28a6cbc428e4c8cf2503b\"},\"headline\":\"5 Elements to Include in Collateral Assignment of Lease\\\/Landlord’s Waiver\",\"datePublished\":\"2012-06-20T13:00:00+00:00\",\"dateModified\":\"2017-03-21T19:48:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.sherin.com\\\/real-estate\\\/2012\\\/06\\\/20\\\/5-elements-to-include-in-collateral-assignment-of-leaselandlords-waiver\\\/\"},\"wordCount\":263,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.sherin.com\\\/real-estate\\\/2012\\\/06\\\/20\\\/5-elements-to-include-in-collateral-assignment-of-leaselandlords-waiver\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.sherin.com\\\/real-estate\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2012\\\/06\\\/38391858_s.jpg\",\"keywords\":[\"Commercial Real Estate\",\"Leasing\"],\"articleSection\":[\"General\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.sherin.com\\\/real-estate\\\/2012\\\/06\\\/20\\\/5-elements-to-include-in-collateral-assignment-of-leaselandlords-waiver\\\/\",\"url\":\"https:\\\/\\\/www.sherin.com\\\/real-estate\\\/2012\\\/06\\\/20\\\/5-elements-to-include-in-collateral-assignment-of-leaselandlords-waiver\\\/\",\"name\":\"5 Elements to Include in Collateral Assignment of Lease\\\/Landlord's Waiver - 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