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.
Appears in 336 contracts
Samples: Mortgage Loan Purchase Agreement (Benchmark 2022-B32 Mortgage Trust), Mortgage Loan Purchase Agreement (GS Mortgage Securities Trust 2021-Gsa3), Mortgage Loan Purchase Agreement (Benchmark 2021-B28 Mortgage Trust)
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 lawlaw and the Standard Qualifications, provides that, upon an event of default under the Mortgage Loan, a receiver is permitted to may be appointed for the collection of rents or for the related Mortgagee mortgagee to enter into possession to collect the rents or for rents to be paid directly to the Mortgageemortgagee.
Appears in 282 contracts
Samples: Mortgage Loan Purchase Agreement (Wells Fargo Commercial Mortgage Trust 2015-Nxs4), Mortgage Loan Purchase Agreement (Wells Fargo Commercial Mortgage Trust 2015-Nxs4), Mortgage Loan Purchase Agreement (Wells Fargo Commercial Mortgage Trust 2015-Nxs4)
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 lawlaw and the Standard Qualifications, provides that, upon an event of default under the Mortgage Loan, a receiver is permitted to may 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.
Appears in 136 contracts
Samples: Mortgage Loan Purchase Agreement, Mortgage Loan Purchase Agreement, Mortgage Loan Purchase Agreement (Wells Fargo Commercial Mortgage Trust 2018-C43)
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 lawlaw and the Standard Qualifications, 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.
Appears in 110 contracts
Samples: Mortgage Loan Purchase Agreement (UBS Commercial Mortgage Trust 2019-C18), Mortgage Loan Purchase Agreement (UBS Commercial Mortgage Trust 2019-C18), Mortgage Loan Purchase Agreement (UBS Commercial Mortgage Trust 2019-C18)
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-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 lawlaw and the Standard Qualifications, provides that, upon an event of default under the Mortgage Loan, a receiver is permitted to may be appointed for the collection of rents or for the related Mortgagee mortgagee to enter into possession to collect the rents or for rents to be paid directly to the Mortgageemortgagee.
Appears in 27 contracts
Samples: Mortgage Loan Purchase Agreement (WFRBS Commercial Mortgage Trust 2013-C15), Mortgage Loan Purchase Agreement (WFRBS Commercial Mortgage Trust 2013-C12), Mortgage Loan Purchase Agreement (WFRBS Commercial Mortgage Trust 2013-C12)
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 each 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.
Appears in 24 contracts
Samples: Pooling and Servicing Agreement (Benchmark 2024-V6 Mortgage Trust), Pooling and Servicing Agreement (Benchmark 2023-V3 Mortgage Trust), Pooling and Servicing Agreement (Benchmark 2023-B39 Mortgage Trust)
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 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, subject to applicable lawlaw and the Standard Qualifications, provides that, upon an event of default under the Mortgage Loan, a receiver is permitted to may be appointed for the collection of rents or for the related Mortgagee mortgagee to enter into possession to collect the rents or for rents to be paid directly to the Mortgageemortgagee.
Appears in 13 contracts
Samples: Mortgage Loan Purchase Agreement, Mortgage Loan Purchase Agreement (WFRBS Commercial Mortgage Trust 2012-C7), Mortgage Loan Purchase Agreement (WFRBS Commercial Mortgage Trust 2012-C7)
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 Exh. C-4 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 lawlaw and the Standard Qualifications, provides that, upon an event of default under the Mortgage Loan, a receiver is permitted to may be appointed for the collection of rents or for the related Mortgagee mortgagee to enter into possession to collect the rents or for rents to be paid directly to the Mortgageemortgagee.
Appears in 12 contracts
Samples: Mortgage Loan Purchase Agreement (WFRBS Commercial Mortgage Trust 2012-C8), Mortgage Loan Purchase Agreement (WFRBS Commercial Mortgage Trust 2012-C8), Mortgage Loan Purchase Agreement (WFRBS Commercial Mortgage Trust 2012-C8)
Assignment of Leases and Rents. There exists as part of the related Mortgage File an Assignment assignment of Leases leases (either as a separate instrument or incorporated into the related Mortgage). Subject to the Permitted Encumbrances and the Title Exceptions, each related Assignment assignment of Leases 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 assignment of Leasesleases, subject to applicable law, provides that, upon an event of default under the each 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.
Appears in 9 contracts
Samples: Mortgage Loan Purchase Agreement (BMO 2024-5c5 Mortgage Trust), Pooling and Servicing Agreement (BMO 2024-C9 Mortgage Trust), Pooling and Servicing Agreement (BMO 2024-C9 Mortgage Trust)
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 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, subject to applicable law, provides that, upon an event of default under the each 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.
Appears in 7 contracts
Samples: Mortgage Loan Purchase Agreement (Benchmark 2024-V8 Mortgage Trust), Mortgage Loan Purchase Agreement (Benchmark 2024-V5 Mortgage Trust), Mortgage Loan Purchase Agreement (Benchmark 2023-B38 Mortgage Trust)
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-first priority collateral assignment of, or a valid first-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 lawlaw and the Standard Qualifications, provides that, upon an event of default under the Mortgage Loan, a receiver is permitted to may be appointed for the collection of rents or for the related Mortgagee mortgagee to enter into possession to collect the rents or for rents to be paid directly to the Mortgageemortgagee.
Appears in 6 contracts
Samples: Mortgage Loan Purchase Agreement (Wells Fargo Commercial Mortgage Trust 2015-Lc20), Purchase Agreement (Wells Fargo Commercial Mortgage Trust 2015-Lc20), Mortgage Loan Purchase Agreement (Wells Fargo Commercial Mortgage Trust 2015-Lc20)
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 thatfor, upon an event of default under the Mortgage Loan, the appointment of 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.
Appears in 4 contracts
Samples: Mortgage Loan Purchase Agreement (Morgan Stanley Capital I Trust 2012-C4), Mortgage Loan Purchase Agreement (Morgan Stanley Capital I Trust 2012-C4), Mortgage Loan Purchase Agreement (Morgan Stanley Capital I Trust 2012-C4)
Assignment of Leases and Rents. There exists as part of the related Mortgage Purchased Asset 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 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 Insolvency 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 mortgagee to enter into possession to collect the rents or for rents to be paid directly to the Mortgageemortgagee.
Appears in 4 contracts
Samples: Master Repurchase Agreement (Claros Mortgage Trust, Inc.), Master Repurchase Agreement (Claros Mortgage Trust, Inc.), Master Repurchase Agreement (Starwood Property Trust, Inc.)
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 mortgagee to enter into possession to collect the rents or for rents to be paid directly to the Mortgageemortgagee.
Appears in 3 contracts
Samples: Mortgage Loan Purchase Agreement (GS Mortgage Securities Trust 2012-Gc6), Mortgage Loan Purchase Agreement (Barclays Commercial Mortgage Securities LLC), Mortgage Loan Purchase Agreement (GS Mortgage Securities Trust 2012-Gc6)
Assignment of Leases and Rents. There exists as part of the related Mortgage Purchased Asset 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 Insolvency 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 mortgagee to enter into possession to collect the rents or for rents to be paid directly to the Mortgageemortgagee.
Appears in 3 contracts
Samples: Master Repurchase Agreement (Claros Mortgage Trust, Inc.), Master Repurchase Agreement (Claros Mortgage Trust, Inc.), Master Repurchase Agreement (RAIT Financial Trust)
Assignment of Leases and Rents. There exists as part of the related Mortgage Purchased Asset 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 lawlaw and the Standard Qualifications, 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 mortgagee to enter into possession to collect the rents or for rents to be paid directly to the Mortgageemortgagee.
Appears in 3 contracts
Samples: Master Repurchase Agreement, Master Repurchase Agreement (Colony Credit Real Estate, Inc.), Master Repurchase Agreement (Colony NorthStar Credit Real Estate, Inc.)
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 GSMC 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.
Appears in 2 contracts
Samples: Mortgage Loan Purchase Agreement (JPMDB Commercial Mortgage Securities Trust 2020-Cor7), Mortgage Loan Purchase Agreement (Benchmark 2018-B8 Mortgage Trust)
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-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 each 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.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2019-Gc41), Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2020-Gc46)
Assignment of Leases and Rents. There exists as part of the related Mortgage Purchased Loan 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 lawlaw and the Standard Qualifications, provides that, upon an event of default under the Mortgage Purchased 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.
Appears in 2 contracts
Samples: Master Repurchase Agreement (Blackstone Mortgage Trust, Inc.), Master Repurchase Agreement (Blackstone Mortgage Trust, Inc.)
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, Exh. C-3 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.
Appears in 2 contracts
Samples: Mortgage Loan Purchase Agreement (Wells Fargo Commercial Mortgage Trust 2015-P2), Mortgage Loan Purchase Agreement (Wells Fargo Commercial Mortgage Trust 2015-P2)
Assignment of Leases and Rents. There exists as part of the related Mortgage Purchased Loan File an Assignment of Leases (either as a separate instrument or incorporated into the related Mortgage). Subject to the Permitted Encumbrances and the Title ExceptionsEncumbrances, 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 Purchased Loan, a receiver is permitted to be appointed for the collection of rents or for the related Mortgagee mortgagee to enter into possession to collect the rents or for rents to be paid directly to the Mortgageemortgagee.
Appears in 2 contracts
Samples: Master Repurchase Agreement (LoanCore Realty Trust, Inc.), Master Repurchase Agreement (Resource Capital Corp.)
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 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, 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 mortgagee to enter into possession to collect the rents or for rents to be paid directly to the Mortgageemortgagee.
Appears in 2 contracts
Samples: Mortgage Loan Purchase Agreement (DBGS 2018-C1 Mortgage Trust), Mortgage Loan Purchase Agreement (DBGS 2018-C1 Mortgage Trust)
Assignment of Leases and Rents. There exists as part of the related Mortgage Purchased Loan 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 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 lawlaw and the Standard Qualifications, provides that, upon an event of default under the Mortgage such Senior Loan, the beneficiary thereof is permitted to seek the appointment of a receiver is permitted to be appointed for the collection of rents or for the related Mortgagee mortgagee to enter into possession to collect the rents or for rents to be paid directly to the Mortgageemortgagee.
Appears in 1 contract
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 ExceptionsEncumbrances, 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 Obligor 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 lawlaw and the Standard Qualifications, provides that, upon an event of default under the Mortgage Loan, a receiver is permitted to may be appointed for the collection of rents or for the related Mortgagee mortgagee to enter into possession to collect the rents or for rents to be paid directly to the Mortgageemortgagee.
Appears in 1 contract
Samples: Master Repurchase Agreement (Angel Oak Mortgage, Inc.)
Assignment of Leases and Rents. There exists as part of the related Mortgage Purchased Asset 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 (upon the recording thereof in the applicable recording office) 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 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 Insolvency 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 mortgagee to enter into possession to collect the rents or for rents to be paid directly to the Mortgageemortgagee.
Appears in 1 contract
Samples: Master Repurchase Agreement (TPG RE Finance Trust, Inc.)
Assignment of Leases and Rents. There exists as part of the related Mortgage Purchased Loan 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 Purchased Loan, a receiver is permitted to be appointed for the collection of rents or for the related Mortgagee mortgagee to enter into possession to collect the rents or for rents to be paid directly to the Mortgageemortgagee.
Appears in 1 contract
Samples: Master Repurchase Agreement (Blackstone Mortgage Trust, Inc.)
Assignment of Leases and Rents. There exists as part of the related Mortgage Purchased Asset 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 lawlaw and the Standard Qualifications, 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 mortgagee to enter into possession to collect the rents or for rents to be paid directly to the Mortgagee.mortgagee. (10)
Appears in 1 contract
Samples: Master Repurchase Agreement
Assignment of Leases and Rents. There exists as part of the related Mortgage Purchased Asset 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 mortgagee to enter into possession to collect the rents or for rents to be paid directly to the Mortgageemortgagee.
Appears in 1 contract
Samples: Master Repurchase Agreement (Tremont Mortgage Trust)