Document background
The Landlord Waiver is a critical document in Hong Kong commercial financing transactions where a tenant seeks to obtain secured financing using assets located on leased premises as collateral. Under Hong Kong law, landlords typically have certain rights over tenants' property, including statutory liens and the right to seize assets for unpaid rent (distress). This document is used when a tenant's lender requires assurance that their security interest in the financed assets will take priority over the landlord's rights. The Landlord Waiver addresses these concerns by having the landlord formally agree to subordinate their rights and grant the lender access to the premises to inspect or remove collateral if necessary. It's particularly important in sectors where businesses rely on equipment financing or inventory-based lending, and it helps facilitate commercial financing while protecting the interests of all parties involved.
