All Interest, or Money in respect of Interest, which shall or may, by or under any such Agreement or Agreements respectively, be or become payable to His Majesty by or from any of his Lessees, for or in respect of any sum or sums to be paid under the Direction of the said Chancellor and Council, by virtue and in pursuance of this Act, and the Powers and Authorities hereby to them in that behalf given, shall be deemed and considered as or in the nature of rent payable to His Majesty, His Heirs or Successors, and to be issuing out of the messuages, lands, and hereditaments, of His Majesty, His Heirs and Successors, held and enjoyed by the Party or Parties to such Agreement or Agreements, by virtue of any such subsisting Lease or Leases, their Executors, Administrators, and Assigns; and in case of the nonpayment of such interest, according to the terms, tenor, and effect of such Agreement or Agreements respectively, the same shall and may be distrained for, and be recoverable and recovered by the King’s Majesty, His Heirs and Successors, and His and their Receivers, Bailiffs, and other Ministers, as rent due from such Lessees respectively, their Executors, Administrators, and Assigns, and issuing out of, and chargeable upon the said messuages, lands and hereditaments respectively, in the same and like manner, in all respects whatsoever, as if the said interest, or money in respect of interest, had been reserved by way of rent unto the King’s Majesty, or His Predecessors, or His or Their Heirs or Successors, in and by the subsisting lease or leases under which the said messuages, lands or hereditaments are held and enjoyed respectively.