Having enforceable security over all of a borrower’s assets is obviously of primary importance to a lender. However, where a borrower occupies leased premises, ensuring the lender has quick and reliable access to the collateral is equally important, especially if the landlord proves to be unco-operative after a borrower’s default. Although court-ordered access to a borrower’s leased premises can be sought after a borrower’s loan default, a landlord waiver obtained prior to an initial advance of a loan can bring some added certainty to the realization process outside of a bankrup
Canada, Insolvency & Restructuring, Real Estate, Gowling WLG, Bankruptcy, Debtor, Collateral (finance), Landlord, Leasehold estate, Waiver, Consent, Personal property, Default (law), Default (finance)