Common use of Appointment of Receiver and Assignment of Real Property Rents Clause in Contracts

Appointment of Receiver and Assignment of Real Property Rents. The Owner Lessor hereby assigns and transfers to the Indenture Trustee all of the Real Property Rents, of the Indenture Estate, and hereby gives to and confers upon the Indenture Trustee the right, power and authority to collect the Real Property Rents. From and after any Lease Indenture Event of Default, the Owner Lessor appoints the Indenture Trustee its true and lawful attorney-in-fact, at the option of the Indenture Trustee at any time and from time to time, to demand, receive and enforce payment, to give receipts, releases and satisfactions. From and after any Lease Indenture Event of Default, the Owner Lessor hereby authorizes and directs the lessees, tenants and occupants to make all payments under any leases directly to the Indenture Trustee upon written demand by the Indenture Trustee, without further consent of the Owner Lessor. If the outstanding principal amount of the Lessor Notes shall have been declared due and payable pursuant to Section 4.3 hereof, as a matter of right, the Indenture Trustee shall be entitled to the appointment of a receiver (who may be the Indenture Trustee or any successor or nominee thereof) for all or any part of the Indenture Estate, whether such receivership be incidental to a proposed sale of the Indenture Estate or the taking of possession thereof or otherwise, and the Owner Lessor hereby consents to the appointment of such a receiver and will not oppose any such appointment. Any receiver appointed for all or any part of the Indenture Estate shall be entitled to exercise all available rights and powers with respect to the Indenture Estate to the extent instructed to do so by the Indenture Trustee.