Assignment of Lease and Rents Sample Clauses

Assignment of Lease and Rents. Mortgagor absolutely and unconditionally grants, transfers, and assigns to the Mortgagee (i) any and all leases, tenancies, rental or occupancy agreements, whether or not in writing and whether or not recorded, with any and all amendments thereto, which now or hereafter cover, encumber or affect a portion or all of the Premises, (ii) any extensions and renewals thereof, (iii) any guarantees of the lessee’s obligations thereunder, (iv) all rents, income and profits arising therefrom, and (v) the Mortgagor’s right, power and authority to alter, modify, change or terminate the term thereof or accept a surrender thereof or cancel the same or waive or release the lessee from its performance or observance of its obligations thereunder or to anticipate rents or any other payments thereunder, other than those in the nature of a security deposit, for more than thirty (30) days prior to accrual, without the prior written consent of the Mortgagee, except as expressly set forth in this Assignment. All of the foregoing are collectively referred to as the “Lease”. This Assignment secures (i) payment of all sums now or at any time hereafter due the Mortgagee under the Note, (ii) performance of all obligations under the Mortgage, and (iii) the performance and discharge of each and every obligation, covenant and agreement contained herein, in the Note, the Mortgage as the same may be modified from time-to-time, and every obligation, covenant and agreement of the Mortgagor to the Mortgagee while the indebtedness under the Note is outstanding. The Mortgagor shall have the right to collect, but not more than thirty (30) days prior to accrual (except for payments in the nature of security), all rents, issues and profits from the Premises and to retain, use and enjoy the same, so long as there is no default that continues beyond any applicable grace period in the payment of any indebtedness secured hereby or in the performance of any obligation, covenant or agreement contained herein or in the Note, the Mortgage or any other instrument securing the indebtedness evidenced by the Note. The Mortgagee is not obligated to perform or discharge any obligation under the Lease or under or by reason of this Assignment. The Mortgagor agrees to indemnify the Mortgagee against and hold it harmless from all actual liability, loss or damage which it might incur under the Lease or under or by reason of this Assignment and from all claims and demands which may be asserted against it by reason o...
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Assignment of Lease and Rents. Execute and deliver a consent to Assignment of Lease and Rents with respect to any Leased Property existing if and when the Loan Agreement is entered into.
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Assignment of Lease and Rents. At closing, Seller shall assign and set over to Buyer all of Seller's right, title and interest in the Lease and rents thereunder, free and clear of all liens and encumbrances, except Permitted Exceptions and Additional Exceptions, and Buyer shall assume the Lease.
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Assignment of Lease and Rents. Counterparts of the Assignment of Lease and Rents (substantially in the form of Exhibit C), duly executed by the Lessor, consented to by the Lessee, shall have been delivered to the Lender;
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Assignment of Lease and Rents. The Lessee shall execute and deliver a consent to Assignment of Lease and Rents with respect to the Leased Property existing if and when the Loan Agreement is entered into.
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Assignment of Lease and Rents. The assignment and grant of the Lien contained in Section 20.1 above shall constitute an absolute, present and irrevocable assignment and grant of the subleases, rents, income, proceeds and benefits of each Property; LEASE AGREEMENT (HGSI) provided that so long as no Lease Event of Default has occurred and is continuing, Lessor hereby grants permission to Lessee to collect, receive and apply such rents, income, proceeds and benefits as they become due and payable, but not in advance hereof, and in accordance with all of the other terms, conditions and provisions hereof and of the leases, contracts, agreements and other instruments with respect to which such payments are made or such other benefits are conferred. Upon the occurrence of a Lease Event of Default, such permission shall terminate immediately and automatically, without notice to Lessee or any other Person. Such assignment shall be fully effective without any further action on the part of Lessee or Lessor and, upon the occurrence and during the continuance of a Lease Event of Default hereunder, at Lessor's option, Lessor shall be entitled to collect, receive and apply all rents, income, proceeds and benefits from Lessor's Interest, including all right, title and interest of Lessee in any escrowed sums or deposits or any portion thereof or interest therein, whether or not Lessor takes possession of the Lessee Collateral or any part thereof. Lessee further grants to Lessor the right, at Lessor's option, upon the occurrence and during the continuance of a Lease Event of Default hereunder:
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Assignment of Lease and Rents. Counterparts of the Assignment of Lease and Rents (substantially in the form of EXHIBIT D), duly executed by the Lessor, consented to by the Lessee and in recordable form, shall have been delivered to the Lender;
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Assignment of Lease and Rents. Counterparts of the Assignment of Lease and Rents (substantially in the form of EXHIBIT J), duly executed by the Lessor, consented to by the Lessee, shall have been delivered to the Credit Bank.
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Assignment of Lease and Rents. Note. Non-Disturbance and Attornment Agreement. Counterparts of the Loan Agreement (substantially in the form of Exhibit B), duly executed by the Lessor and the Lender, shall have been delivered to each of the Lessor and the Lender; counterparts of the Mortgage (substantially in the form of Exhibit C), duly executed by the Lessee and in recordable form, shall have been delivered to each of the Lessor and the Lender; the Assignment of Lease and Rents (substantially in the form of Exhibit D), duly executed by the Lessor, consented to by the Lessee and in recordable form, shall have been delivered to the Lender; the Note (substantially in the form attached as an exhibit to the Loan Agreement) payable to the order of the Lender, duly executed by the Lessor, shall have been delivered to the Lender and the Non-Disturbance and Attornment Agreement (substantially in the form of Exhibit E) duly executed by the Lessee, Lessor and Lender and in recordable form shall have been delivered to the Lender, the Lessor and the Lessee.
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Related to Assignment of Lease and Rents

  • Assignment of Leases and Rents There exists as part of the related Mortgage File an Assignment of Leases (either as a separate instrument or incorporated into the related Mortgage). Subject to the Permitted Encumbrances and the Title Exceptions, each related Assignment of Leases creates a valid first-priority collateral assignment of, or a valid first-priority lien or security interest in, rents and certain rights under the related lease or leases, subject only to a license granted to the related Mortgagor to exercise certain rights and to perform certain obligations of the lessor under such lease or leases, including the right to operate the related leased property, except as the enforcement thereof may be limited by the Standard Qualifications. The related Mortgage or related Assignment of Leases, subject to applicable law, provides that, upon an event of default under the Mortgage Loan, a receiver is permitted to be appointed for the collection of rents or for the related Mortgagee to enter into possession to collect the rents or for rents to be paid directly to the Mortgagee.

  • Assignment of Lease Assignor hereby assigns, transfers and sets over to Assignee all of Assignor’s right, title and interest as tenant under the Lease, together with all credits, deposits, rights of refusal, options (including, but not limited to, any options to purchase or renew set forth in the Lease), benefits, privileges and rights of Assignor under the Lease.

  • Assignment of Leases The Assignment of Leases creates a valid assignment of, or a valid security interest in, certain rights under the Leases, subject only to a license granted to Borrower to exercise certain rights and to perform certain obligations of the lessor under the Leases, including the right to operate the Property. No Person other than Lender has any interest in or assignment of the Leases or any portion of the Rents due and payable or to become due and payable thereunder.

  • Assignment of Leases, Rents and Profits There exists as part of the related Mortgage File an Assignment of Leases, Rents and Profits (either as a separate instrument or incorporated into the related Mortgage). Subject to the Permitted Encumbrances and the Title Exceptions (and, in the case of a Mortgage Loan that is part of a Whole Loan, subject to the related Assignment of Leases, Rents and Profits constituting security for the entire Whole Loan), each related Assignment of Leases, Rents and Profits creates a valid first-priority collateral assignment of, or a valid first-priority lien or security interest in, rents and certain rights under the related lease or leases, subject only to a license granted to the related Borrower to exercise certain rights and to perform certain obligations of the lessor under such lease or leases, including the right to operate the related leased property, except as the enforcement thereof may be limited by the Standard Qualifications. The related Mortgage or related Assignment of Leases, Rents and Profits, subject to applicable law, provides that, upon an event of default under the Mortgage Loan, a receiver is permitted to be appointed for the collection of rents or for the related mortgagee to enter into possession to collect the rents or for rents to be paid directly to the mortgagee.

  • Leases and Rents (i) Borrower absolutely and unconditionally assigns to Lender, Borrower’s right, title and interest in all current and future Leases and Rents as collateral for the Loan, it being intended by Borrower that this assignment constitutes a present, absolute assignment and not an assignment for additional security only. Such assignment to Lender shall not be construed to bind Lender to the performance of any of the covenants, conditions or provisions contained in any such Lease or otherwise impose any obligation upon Lender. Borrower shall execute and deliver to Lender such additional instruments, in form and substance reasonably satisfactory to Lender, as may hereafter be reasonably requested in writing by Lender to further evidence and confirm such assignment. Nevertheless, subject to the terms of this Section 5.1(z), Lender grants to Borrower a license to lease, maintain, operate and manage the Mortgaged Property and to collect, use and apply the Rents in accordance with the terms hereof and otherwise act as the landlord under the Leases, which license shall be deemed automatically revoked upon the occurrence and during the continuance of an Event of Default under this Agreement. Any portion of the Rents held by Borrower shall be held in trust for the benefit of Lender for use in the payment of the Indebtedness. Upon the occurrence of an Event of Default and during the continuance thereof, the license granted to Borrower herein shall automatically be revoked, and Lender shall immediately be entitled to possession of all Rents, whether or not Lender enters upon or takes control of the Mortgaged Property. Lender is hereby granted and assigned by Borrower the right, at its option, upon revocation of the license granted herein, to enter upon the Mortgaged Property in person, by agent or by court-appointed receiver to collect the Rents. Any Rents collected after the revocation of the license shall be applied toward payment of the Indebtedness as set forth in Section 2.8 hereof.

  • Assignment of Rents and Leases (a) Borrower hereby presently assigns to Agent all of Borrower’s right, title and interest in and to any Leases, as defined hereinafter, with respect to the Property, and all rents, issues and profits of the Property. “Lease” means every lease or occupancy agreement for the use or hire of all or any portion of the Property which shall be in effect on the date hereof, or which shall hereafter be entered into, and by which Borrower is a lessor or the like, and any renewals, extensions or other modifications thereof. Borrower grants to Agent, with or without Agent or any other Person (including, without limitation, a receiver) taking possession of the Property, the right to give notice to the tenants of this assignment, to collect rents, issues and profits from the tenants and to enter onto the Property for the purpose of collecting the same and to let the Property and to apply such rents, issues and profits, after payment of all charges and expenses relating to the Property, to the Obligations. This assignment shall be an absolute assignment, subject to the license herein granted to Borrower and Borrower’s obligations hereunder, and shall continue in effect until the Obligations are fully paid and performed. Agent hereby grants a revocable license to Borrower to collect and use such rents, issues and profits; provided, however, that the foregoing license shall be automatically revoked, without any action on Agent’s part, upon the occurrence of an Event of Default. Notwithstanding any law to the contrary, if there is an Event of Default, and if there is any applicable law requiring Agent to take possession of the Property (or some action equivalent thereto, such as securing the appointment of a receiver) in order for Agent to “perfect” or otherwise “activate” its rights and remedies as set forth herein, then Borrower waives all benefits of such laws and agrees that such laws shall be fully satisfied, without any action on Agent’s part, solely by the occurrence of such Event of Default. If, notwithstanding such waiver by Borrower, such laws require the undertaking of some affirmative act by Agent, Borrower agrees that such laws shall be fully satisfied solely by Agent giving Borrower notice, written or oral, that such Event of Default has occurred and that Agent intends to enforce its rights in any Leases and/or any rents, issues and profits assigned herein.

  • Grant of Lease Landlord does hereby lease unto Tenant, and Tenant does hereby rent from Landlord, solely for use as a personal residence, excluding all other uses, the personal residence located in USA, GA, with address of: 0000 Xxxxxx Xxx, #0, Xxxxxxxxxxxx, XX, XXX Heirs And Assigns It is agreed and understood that all covenants of this lease shall succeed to and be binding upon the respective heirs, executors, administrators, successors and, except as provided herein, assigns of the parties hereto, but nothing contained herein shall be construed so as to allow the Tenant to transfer or assign this lease in violation of any term here of.

  • Amendment of Lease The Lease is hereby amended as follows:

  • Lease Assignment To the best of Seller's knowledge, the ------------------ Tenant has not assigned its interest in the Lease or sublet any portion of the premises leased to the Tenant under the Lease.

  • Assignment of Rents Mortgagor hereby assigns to Mortgagee the Rents as further security for the payment of the Obligations and performance of the Performance Obligations, and Mortgagor grants to Mortgagee the right to enter the Mortgaged Property for the purpose of collecting the same and to let the Mortgaged Property or any part thereof, and to apply the Rents on account of the Obligations. The foregoing assignment and grant is present and absolute and shall continue in effect until the Obligations are paid in full, but Mortgagee hereby waives the right to enter the Mortgaged Property for the purpose of collecting the Rents and Mortgagor shall be entitled to collect, receive, use and retain the Rents until the occurrence of an Event of Default under this Mortgage; such right of Mortgagor to collect, receive, use and retain the Rents may be revoked by Mortgagee upon the occurrence of any Event of Default under this Mortgage by giving not less than five days' written notice of such revocation to Mortgagor; in the event such notice is given, Mortgagor shall pay over to Mortgagee, or to any receiver appointed to collect the Rents, any lease security deposits, and shall pay monthly in advance to Mortgagee, or to any such receiver, the fair and reasonable rental value as determined by Mortgagee for the use and occupancy of the Mortgaged Property or of such part thereof as may be in the possession of Mortgagor or any affiliate of Mortgagor, and upon default in any such payment Mortgagor and any such affiliate will vacate and surrender the possession of the Mortgaged Property to Mortgagee or to such receiver, and in default thereof may be evicted by summary proceedings or otherwise. Mortgagor shall not accept prepayments of installments of Rent to become due for a period of more than one month in advance (except for security deposits and estimated payments of percentage rent, if any).

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