Assignment of Rents, Issues and Profits. The Mortgagor hereby assigns and transfers to the Mortgagee, FOR THE PURPOSE OF SECURING the Obligations, all Rents, and hereby gives to and confers upon the Mortgagee the right, power and authority to collect the same. The Mortgagor irrevocably appoints the Mortgagee its true and lawful attorney-in-fact, at its option at any time and from time to time following the occurrence and during the continuance of a Default, to demand, receive and enforce payment, to give receipts, releases and satisfactions, and to xxx, in the name of the Mortgagor or otherwise, for Rents and apply the same to the Obligations as provided in paragraph (a) of Section 4.03; provided, however, that the Mortgagor shall have the right to collect Rents at any time prior to the occurrence of a Default (but not more than one month in advance, except in the case of security deposits).
Assignment of Rents, Issues and Profits. Mortgagor, unconditionally and absolutely, assigns to Mortgagee the rents, issues, and profits of the Mortgaged Premises as further security for the payment of the Obligations, and grants to Mortgagee the right to enter upon the Mortgaged Premises for the purpose of collecting them, and to let all or any part of the Mortgaged Premises, and to apply the monies received, after payment of all necessary charges and expenses, to the Obligations, upon default under the Agreements or this Mortgage. Prior to written notice given by Mortgagee to Mortgagor of the occurrence of an event of default, Mortgagor shall have the privilege to collect and receive all rents and revenues of the Mortgaged Premises as trustee for the benefit of Mortgagee and Mortgagor, and so long as no such event of default has occurred and be continuing, shall be permitted to apply such rents and revenues to the account of the Mortgage or such other legitimate purposes. In the event of any such default, Mortgagor shall pay to Mortgagee, or to any receiver appointed to collect the rents, issues, and profits of the Mortgaged Premises, a fair and reasonable occupation rental for the use and occupation of the Mortgaged Premises by Mortgagor or of such part as may be in the possession of Mortgagor; and on default in payment of such rental, to vacate and surrender possession of the Mortgaged Premises, or that portion occupied by Mortgagor, to Mortgagee or to any receiver appointed.
Assignment of Rents, Issues and Profits. Trustor hereby absolutely and irrevocably assigns and transfers to Beneficiary all of its right, title and interest in and to all rents, issues, profits, royalties, income and other proceeds and similar benefits derived from the Property (collectively, the “Rents”), and hereby gives to and confers upon Beneficiary the right, power and authority to collect such Rents. Trustor irrevocably appoints Beneficiary its true and lawful attorney-in-fact, at the option of Beneficiary, at any time and from time to time, to demand, receive and enforce payment, to give receipts, releases and satisfactions, and to xxx, in its name or in the name of Trustor, for all Rents, and to apply the same to the obligations secured hereby; provided, however, that Trustor shall have a license to collect Rents (but not more than one month in advance unless the written approval of Beneficiary has first been obtained), and to retain and enjoy the same, so long as an Event of Default shall not have occurred hereunder and be continuing. The assignment of the Rents in this Article 4 is intended to be an absolute assignment from Trustor to Beneficiary and not merely the passing of a security interest.
Assignment of Rents, Issues and Profits. A. Mortgagor does hereby irrevocably assign and set over unto Mortgagee all right, title and interest of Mortgagor in any and all leases, licenses or other grants of right to use the Subject Premises or any portion thereof, now existing or hereafter entered into and all rents, issues and profits of and from the Subject Premises as additional security for the indebtedness and other items hereby secured, for the purpose of keeping said Subject Premises, buildings and improvements and/or the contents thereof in proper order and repair, and for the purpose of protecting the security of Mortgagee, and Mortgagee is hereby given a prior and continuing lien thereon. Mortgagor does hereby irrevocably appoint Mortgagee and/or its attorney or agent to collect said rents, without suit, and apply the same, less all expenses of collection, to the said indebtedness, to management, maintenance and repair of the Subject Premises and the contents thereof, and to protecting the security of Mortgagee in such manner as Mortgagee may elect; provided, however, that until there occurs an Event of Default under the terms of this Mortgage, Mortgagor may continue to collect and enjoy the current rents without accountability to Mortgagee. During any period that Mortgagee collects rents pursuant to this paragraph, Mortgagee shall be entitled to retain ten percent (10%) of such rents in payment for the services of the Mortgagee in relation to the Subject Premises, which sum Mortgagor agrees is a fair and reasonable charge. The taking of possession and collection of rents by Mortgagee as aforesaid shall not be construed to be an affirmation of or acceptance of any attornment with respect to any lease of the Subject Premises or any part thereof. Mortgagee or any other purchaser at any foreclosure sale may (if otherwise entitled to do so) exercise the right to terminate any such lease as though such taking of possession and collection of rents had not occurred. Mortgagee shall be liable to account only for such rents, issues, and profits as are actually received by Mortgagee.
Assignment of Rents, Issues and Profits. The Mortgagor hereby assigns and transfers to the Mortgagee, FOR THE PURPOSE OF SECURING the Obligations, all Rents, and hereby gives to and confers upon the Mortgagee the right, power and authority to collect the same and apply them in payment of the Obligations as provided herein. The Mortgagor irrevocably appoints the Mortgagee its true and lawful attorney-in-fact, at its option at any time and from time to time following the occurrence and during the continuance of a Default, to demand, receive and enforce payment, to give receipts, releases and satisfactions, and to sue, in the name of the Mortgagor or otherwise, for Rents and apply the same to the Obligations as provided in paragraph (a) of Section 5.03 hereof; provided, however, that the Mortgagor shall have the right to collect Rents at any time prior to the occurrence of a Default (but not more than one month in advance, except in the case of security deposits).
Assignment of Rents, Issues and Profits. The Mortgagor does hereby absolutely and unconditionally assign to the Mortgagee the Mortgagor's right, title and interest in all current and future Leases and Rents, it being intended by the Mortgagor that this assignment constitutes a present, absolute assignment and not an assignment for additional security only. This Section 3.01 presently gives Mortgagee the right to collect the Rents and to apply the Rents in partial payment of the Note and Loan Obligations. Mortgagor intends that the Rents and Leases be absolutely assigned as provided in this Section 3.01 and that they no longer be, during the term of this Section, property of the Mortgagor or property of the estate of Mortgagor, as defined by 11 U.S.C. subsection 541. If any law exists requiring Mortgagee to take actual possession of the Mortgaged Estate (or some action equivalent to taking possession of the Mortgaged Estate, such as securing the appointment of a receiver) in order for Mortgagee to "perfect" or "activate" the rights and remedies of Mortgagee as provided in this Section, Mortgagor waives the benefit of such law. Such assignment to the Mortgagee shall not be construed to bind the Mortgagee to the performance of any of the covenants, conditions or provisions contained in any such Leases or otherwise impose any obligation upon the Mortgagee and notwithstanding the assignment, Mortgagor shall remain liable for any obligations undertaken by Mortgagor pursuant to any Lease. Mortgagor agrees that, further to evidence and reflect the assignment granted herein, Mortgagor shall execute, acknowledge and deliver to Mortgagee such additional instruments in form and substance reasonably satisfactory to Mortgagee as may hereafter be requested by Mortgagee and shall record such leases or memoranda thereof, and all assignments thereof, all at Mortgagor's expense. Subject to the terms of this Section 3.01 and the Loan Agreement, the Mortgagee grants to the Mortgagor a license, revocable as hereinafter provided, to operate and manage the Mortgaged Estate and to collect and use the Rents subject to the requirements of the Loan Agreement. Upon the occurrence of an Event of Default, the license granted to Mortgagor herein shall, at Mortgagee's election, be revoked by the Mortgagee, and the Mortgagee shall immediately be entitled to possession of all Rents then or thereafter in the Collection Account and in the Cash Collateral Account or wherever they may be and all Rents collected thereafter (including R...
Assignment of Rents, Issues and Profits. Mortgagor absolutely, unconditionally and irrevocably assigns and transfers to Mortgagee all of its right, title and interest in and to all rents, issues, profits, royalties, income and other proceeds and similar benefits derived from the Collateral (collectively the "Rents"), and gives to Mortgagee the right, power and authority to collect such Rents. Mortgagor irrevocably appoints Mortgagee its true and lawful attorney-in fact, at the option of Mortgagee, at any time and from time to time, to demand, receive and enforce payment, to give receipts, releases and satisfactions, and or xxx, in its name or in Mortgagor's name, for all Rents, and to apply them to the Secured Obligations. Mortgagee hereby grants to Mortgagor a license to collect and retain Rents (but not more than one month in advance unless the written approval of Mortgagee has first been obtained) so long as an Event of Default shall not have occurred and be continuing. The assignment of the Rents is intended to be an absolute assignment from Mortgagor to Mortgagee and not merely the passing of a security interest. This assignment of Rents is intended to be specific, perfected and xxxxxx upon recording.
Assignment of Rents, Issues and Profits. Grantor hereby absolutely and unconditionally assigns and transfers to Grantee, on behalf of and as Collateral Agent for the Lenders, all the Rents of the Collateral, and hereby gives to and confers upon Grantee, on behalf of and as Collateral Agent for the Lenders, the right, power and authority to collect such Rents. Grantor irrevocably appoints Grantee, on behalf of and as Collateral Agent for the Lenders, its true and lawful attorney-in-fact, at any time and from time to time, to demand, receive and enforce payment, to give receipts, releases and satisfactions, and to xxx, in the name of Grantor or Grantee, for all such Rents and apply the same to the Indebtedness secured hereby as more particularly described in Section 2.02 below; provided, however, that Grantee hereby grants to Grantor a license to collect such Rents (but not more than thirty (30) days in advance unless the written approval of Grantee has first been obtained), and to retain and enjoy same, and to demand, receive and enforce payment and to give receipts, so long as an Event of Default shall not have occurred hereunder and be continuing. Upon request of Grantee, Grantor shall execute and deliver to Grantee, on behalf of and as Collateral Agent for the Lenders, in recordable form, a specific assignment of any lease, sublease, license, concession or other agreement (collectively, the "LEASES") now or hereafter affecting the Collateral or any portion thereof to evidence further the assignment hereby made. The assignment of the rents, of the Collateral in this ARTICLE II is intended to be an absolute and present assignment from Grantor to Grantee and not merely the passing of a security interest.
Assignment of Rents, Issues and Profits. 6.1 Assignment of Rents 6.2 Performance of Leases
Assignment of Rents, Issues and Profits. 2.1 Assignment of Rents, Issues and Profits. Trustor further irrevocably grants, transfers and assigns to Beneficiary the Rents from the Premises, absolutely and unconditionally, and not merely as additional collateral security for the indebtedness secured by this Deed of Trust.
