Assignment of Rent. 4.1 Subject to the terms of Section 4.2, Tenant hereby absolutely and irrevocably assigns and transfers to Landlord Tenant's rights under the Sublease to all rentals and other sums due Tenant under the Sublease.
4.2 Landlord agrees that until a default shall occur in the performance of Tenant's obligations under the Master Lease, Tenant shall have a license to receive, collect and enjoy the rentals and other sums due Tenant under the Sublease except as otherwise provided under the Master Lease. However, said license shall automatically terminate without notice to Tenant upon the occurrence of a default by Tenant in the performance of its obligations under the Master Lease and Landlord may thereafter, at its option, receive and collect, directly from Subtenant, all rentals and other sums due or to be due Tenant under the Sublease. Landlord shall not, by reason of the assignment of all rentals and other sums due Tenant under the Sublease nor by reason of the collection of said rentals or other sums from the Subtenant, (a) be bound by or become a party to the Sublease, (b) be deemed to have accepted the attornment of Subtenant, or (c) be deemed liable to Subtenant for any failure of Tenant to perform and comply with Tenant's obligations under the Sublease. Tenant hereby irrevocably authorizes and directs Subtenant, upon receipt by Subtenant of any written notice from Landlord stating that a default exists in the performance of Tenant's obligations under the Master Lease, to pay directly to Landlord the rents and other income due and to become due under the Sublease. Tenant agrees that Subtenant shall have the right to rely solely upon such notice from Landlord notwithstanding any conflicting demand by Tenant or any other party. Tenant hereby agrees to indemnify, defend and hold Subtenant harmless from any and all claims, losses, liabilities, judgments, costs, demands, causes of action and expenses (including, without limitation, attorneys' fees and consultants' fees) (collectively, "Claims") which Subtenant may incur in relying on any written notice from Landlord and/or paying rent and other sums due under the Sublease directly to Landlord in accordance with this Section 4.2.
Assignment of Rent. If, at any time after the signing of this Addendum, the Landlord becomes delinquent in the payment of amounts due from Landlord to the Association as required by the Condominium Instruments, the Landlord and Tenant acknowledge and agree that the Association may demand, and immediately thereafter shall receive, payment directly from Tenant of all rent or other amounts due or becoming due from Tenant to Landlord, up to an amount sufficient to pay all sums due from Landlord to the Association, and any such payment from Tenant to the Association shall be deemed to be payment of rent to Landlord in accordance with the Lease, and Tenant shall be discharged from any obligation to pay directly to Landlord any such amounts, so long as such payments are made to the Association, until Landlord’s delinquency to the Association has been cured. However, the Landlord remains liable for all amounts due the Association under the Condominium Instruments, and if the Association elects to receive payment of rent directly from Tenant, Landlord shall be responsible for payment of such amounts, and any resulting interest, fees and costs, if the Tenant fails to timely make his or her monthly payment to the Association pursuant to this Paragraph.
Assignment of Rent. Tenant immediately and irrevocably assigns to ------------------ Landlord, as security for Tenant's obligations under this Lease, all rent from any subletting of all or a part of the Premises as permitted by this Lease, and Landlord, as assignee and attorney-in-fact for Tenant, or a receiver for Tenant appointed on Landlord's application, may collect such rent and apply it toward Tenant's obligation under this Lease; except that, until the occurrence of an act of default by Tenant, Tenant shall have the right to collect such rent.
Assignment of Rent. The Enclave Condominium Association reserves the right to notify the Tenant to pay all rent to the Association in the event that the Association has assessed fines against the owner for violation of the rules and regulations or if the owner is otherwise delinquent in payments to the Association as required by the Rules and regulations, the Master Deed, or the By-Laws of the Association. The Owner consents to the assignment of rents paid by tenant for this apartment, if owner (landlord) is more than 30 days in arrears of condominium fees and any assessments. This lease agreement shall not be binding on either party hereto until landlord has received and approved the tenant’s credit application. In the event that the tenant’s credit application is not approved by the landlord or Association, then the Landlord or Association shall have the right to terminate this agreement. The undersigned acknowledges by their execution of this lease that they waive, release and relinquish any right to pursue any claim against the Enclave Condominium Association, Inc. or any of its agents, employees or representatives as a result of any damage to their vehicle, while such vehicle is parked in the Condominium’s parking facility , or for any fire, theft, or vandalism or any other claim of any type whatsoever. This waiver also releases and relinquishes any right to pursue any claim against the Enclave Condominium Association, Inc., or its agents, employees, or representatives, as a result of any damage to their rental unit, or for any fire, theft, or vandalism, or any other claim of any type, except for any claim for damages arising out of the conduct of the Enclave Condominium Association, Inc., or its agents, employees, or representatives.
Assignment of Rent. Tenant hereby irrevocably assigns and transfers to Landlord all of Tenant’s interest in the rent payable by Subtenant under the Sublease, upon the occurrence of Sublessor Default as defined in subsection (b), and subject to the rights of Landlord’s lenders pursuant to any subordination, non-disturbance and attornment agreement now or hereafter existing between Landlord and such lender(s).
Assignment of Rent. In the event of default in the payment by Landlord of any sums, charges or assessments required to be paid by Landlord to the Cooperative, the Cooperative, at its option, shall be subrogated to all the rights of Landlord under this Sublease, including the right to collect rent on the terms and conditions of this Sublease. A written notice of the exercise of its option by the Cooperative, delivered to Landlord and Tenant, either by hand or by certified or registered mail, shall be sufficient to vest in the Cooperative all of the rights of the Landlord under this Sublease, and Tenant shall thereafter pay all rent provided for under this Sublease directly to the Cooperative, until the Cooperative gives Tenant a further written notice that Landlord’s default to the Cooperative has been cured.
Assignment of Rent. TENANT ACKNOWLEDGES THAT LANDLORD HAS ASSIGNED ITS RIGHTS TO RENT HEREUNDER TO THE LANDLORD UNDER THE SUB GROUND LEASE, AND THAT THE LANDLORD UNDER THE SUB GROUND LEASE HAS ASSIGNED ITS RIGHTS TO RENT HEREUNDER TO THE LANDLORD UNDER THE GROUND LEASE, AND THAT, EXCEPT TO THE EXTENT SUCH RENTAL PAYMENTS ARE FROM TIME TO TIME BEING MADE TO A LEASEHOLD MORTGAGEE OF LANDLORD OR THE LANDLORD UNDER THE SUB GROUND LEASE, TENANT SHALL MAKE RENTAL PAYMENTS DIRECTLY TO THE LANDLORD UNDER THE GROUND LEASE UPON RECEIVING ANY REQUEST THEREFOR FROM THE LANDLORD UNDER THE GROUND LEASE. There shall be no prejudice to Tenant, nor liability incurred by Tenant, on account of Tenant making rental payments directly to a party purporting to be the landlord under the Ground Lease as set forth above, and Landlord shall release Tenant of any such obligation to Landlord to the extent Rent is so paid.
Assignment of Rent. If at any time during the lease term, including any extension, renewal or holdover term, Landlord becomes delinquent in the payment of any amounts due from Landlord to the Association, the Association, at its option, as long as such delinquency continues, may demand and receive payment from Tenant of all such amounts due or becoming due, up to an amount sufficient to pay all sums due from Landlord to the Association, and any such payment from Tenant to the Association shall be deemed to be a full and sufficient payment of rent to Landlord in accordance with the Lease, and Tenant shall be discharged from any obligation to pay such amounts directly to Landlord, so long as such payments are
Assignment of Rent. If: (i) the Project or any portion thereof is, at any time subject to a Mortgage; (ii) this Lease and rent payable hereunder is assigned to the holder of the Mortgage; and (iii) the Tenant is given written notice of such assignment, including the name and address of the assignee, then, in that event, Tenant shall not terminate this Lease or make any abatement in the rent payable hereunder for any default on the part of the Landlord without first giving notice, in the manner provided elsewhere in this Lease for the giving of notices, to the holder of such Mortgage, specifying the default in reasonable detail, and affording such holder a reasonable opportunity to make performance, at its election, for and on behalf of the Landlord, except that: (x) such holder shall have at least 30 days to cure the default; (y) if such default cannot be cured with reasonable diligence and continuity within 30 days, such holder shall have any additional time as may be reasonably necessary to cure the default with reasonable diligence and continuity; and (z) if the default cannot reasonably be cured without such holder having obtained possession of the Building, such holder shall have such additional time as may be reasonably necessary under the circumstances to obtain possession of the Building and thereafter to cure the default with reasonable diligence and continuity. If more than one such holder makes a written request to Landlord to cure the default, the holder making the request whose lien is the most senior shall have such right.
Assignment of Rent. Sublessor unconditionally assigns to Landlord any and all payments due from Sublessee to Sublessor under the Sublease (the “Rents”). Sublessor acknowledges that this assignment is present, absolute and unconditional and Landlord shall therefore have the right to collect the Rents and to apply them in payment of any sums payable by Sublessor under the Lease. However, Sublessor shall have a license to collect the Rents until the occurrence of a default by Sublessor under the Lease. If a default occurs, Sublessor’s right to collect the Rents shall be suspended until the default is cured. During such period, Landlord shall have the right to collect the Rents and apply them toward Sublessor’s obligations under the Lease. Landlord’s acceptance of any payment from Sublessee as a result of any default does not release Sublessor from liability under the terms, covenants, conditions, provisions or agreements under the Lease. Upon receiving from Landlord a written notice of Sublessor’s default and a written demand for payment of Rents, Sublessee shall pay Rents to the Landlord until Landlord provides written notice that the Sublessor’s default has been cured. Sublessee may conclusively rely upon Landlord’s representations of Sublessor’s default and need not conduct its own investigation. All payments by Sublessee to Landlord in response to a demand from Landlord shall be deemed payments by Sublessee to Sublessor under this Sublease.
