Assignment of Asset Management Agreement. Borrower, the related Asset Manager and Lender shall have entered into the applicable Assignment of Asset Management Agreement.
Assignment of Asset Management Agreement an Subordination of Fees, dated as of December 5, 2002, by WHP Hotel Lessee-1, Inc. and WHP Hotel Owner-1, L.P. to Bear Xxxxxxx Commercial Mortgage, Inc. and consented and agreed to by Sunstone Hotel Properties, Inc.
Assignment of Asset Management Agreement. (a) The Issuer, in furtherance of the covenants of this Indenture and as security for the Secured Obligations and the performance and observance of the provisions hereof, hereby assigns, transfers, conveys and sets over to the Trustee, for the benefit of the Secured Parties, all of the Issuer's right, title and interest (but none of its obligations) in, to and under the Asset Management Agreement, including the right to do any and all other things whatsoever that the Issuer is or may be entitled to do thereunder or in connection therewith; provided, however, the Trustee hereby grants the Issuer a license to exercise all of the Issuer's rights pursuant to the Asset Management Agreement without notice to or the consent of the Trustee (except as otherwise expressly required by this Indenture), which license shall be and is hereby deemed to be automatically revoked upon the occurrence of an Event of Default hereunder until such time, if any, as such Event of Default is cured or waived.
