My Commercial Renter Using Exact Same Collateral Equipment for Two Different Loans - TX
My commercial renter is now acquiring another loan and the company is asking for me (landlord) to let them obtain said equipment in the event of default. But, the list of equipment is the exact same that was on a previous lender's paperwork that I OKd' back in September.
I have not been faced with this before and am researching my obligations - any experience out there with this one?
At one point the renter mentioned that it's a consolidated loan but it's vague and before I go further I need to know what my obligations are.