Common use of Assignment of Rents, Issues and Profits Clause in Contracts

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. MortgagorTRUSTOR hereby irrevocably, unconditionally and absolutely, presently, and unconditionally assigns to Mortgagee BENEFICARY the rents, royalties, issues, profits, revenue, income, and proceeds of the PROPERTY. This is an absolute assignment and not an assignment for security only. Except to the extent that the lease or rental of the PROPERTY is prohibited by the Resale Restriction Agreement, BENEFICARY hereby confers upon TRUSTOR a license to collect and retain such rents, royalties, issues, profits, revenue, income, and proceeds as they become due and payable prior to any Event of Default hereunder. Upon the occurrence of any such Event of Default, BENEFICARY may terminate such license without notice to or demand upon TRUSTOR and without regard to the adequacy of any security for the indebtedness hereby secured, and may either in person, by agent, or by a receiver to be appointed by a court, enter upon and take possession of the PROPERTY or any part thereof, and sue for or otherwise collect such rents, issues, and profits profits, including those past due and unpaid, and apply the same, less costs and expenses of operation and collection, including reasonable attorneys’ fees, to any indebtedness secured hereby, and in such order as BENEFICARY may determine. BENEFICARY’s right to the rents, royalties, issues, profits, revenue, income, and proceeds of the Mortgaged Premises as further security for the payment PROPERTY does not depend upon whether or not BENEFICARY takes possession of the Obligations, PROPERTY. The entering upon 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 taking possession of the Mortgaged PremisesPROPERTY, and to apply the monies received, after payment collection 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 profits, and the application thereof as aforesaid, shall not cure or waive any default or notice of default hereunder or invalidate any act done pursuant to such notice. If an Event of Default occurs while BENEFICARY is in possession of all or part of the Mortgaged PremisesPROPERTY and/or is collecting and applying Rents as permitted under this DEED OF TRUST, a fair BENEFICARY, TRUSTEE and reasonable occupation rental for any receiver shall nevertheless be entitled to exercise and invoke every right and remedy afforded any of them under this DEED OF TRUST and at law or in equity, including the use and occupation right to exercise the power of the Mortgaged Premises sale granted hereunder. Regardless of whether or not BENEFICARY, in person or by Mortgagor or of such part as may be in the possession of Mortgagor; and on default in payment of such rentalagent, to vacate and surrender takes actual possession of the Mortgaged PremisesLand and Improvements, BENEFICARY shall not be deemed to be a “mortgagee in possession,” shall not be responsible for performing any obligation of the lessor under any Lease, shall not be liable in any manner for the PROPERTY or the use, occupancy, enjoyment, or that portion occupied by Mortgagoroperation of any part of it, and unless due solely to Mortgagee the willful misconduct or to gross negligence of BENEFICARY, shall not be responsible for any receiver appointeddangerous or defective condition of the PROPERTY or any negligence in the management, repair, or control of the PROPERTY.

Assignment of Rents, Issues and Profits. Mortgagor(a) Subject to the limitations contained herein, unconditionally and absolutely, the Mortgagor hereby assigns to the Mortgagee on its own behalf and on behalf of the Holders the rents, issues, issues and profits derived from (i) all leases of the Mortgaged Premises as further security for now or hereafter entered into by the payment Mortgagor and (ii) all occupancy, license and concession agreements in respect of any part of the ObligationsMortgaged Premises now or hereafter entered into, and the Mortgagor grants to the Mortgagee the right to enter upon the Mortgaged Premises for the purpose of collecting them, the same and to let all lease the Mortgaged Property, or any part of the Mortgaged Premisesthereof, and to apply said rents, issues and profits on account of the monies receivedLiabilities. This assignment, after payment grant and right to apply rents, issues and profits shall continue in effect until the Liabilities are paid in full, but the Mortgagee hereby waives the right to enter the Mortgaged Premises and/or to collect said rents, issues and profits, and the Mortgagor shall be entitled to collect, receive, use and retain said rents, issues and profits, until the occurrence of and during the continuation of an Event of Default; such right of the Mortgagor to exercise all necessary charges such rights, including the right to collect, receive, use and expensesretain said rents, issues and profits may be revoked by the Mortgagee upon the occurrence of and during the continuation of an Event of Default by the Mortgagee giving written notice of such revocation to the Obligations, upon default Mortgagor. The Mortgagor shall not accept prepayments of installments of rent under the Agreements or this Mortgageleases which payments would, in the aggregate for all such leases, exceed the sum of $1,000,000 (except for tenant finish work performed with respect to any such lease). Prior to written notice given by Mortgagee to Mortgagor of If, following the occurrence of an event Event of defaultDefault, the Mortgagee shall thereafter elect to discontinue the exercise of any right or remedy assigned or granted to the Mortgagee on its own behalf and on behalf of the Holders pursuant to this Section 11 or such Event of Default has otherwise been cured, the Mortgagor's rights under this subsection 11(a) shall be automatically reinstated, subject to the same or any other right or remedy hereunder being reasserted at any time and from time to time following any subsequent Event of Default. Anything herein to the contrary notwithstanding, the rights of the Mortgagor shall have the privilege to collect and receive or retain any sums shall not apply to amounts to be used by Mortgagor to cure an Event of Default or otherwise make any payment in respect of Securities or make any payment or perform any obligation under the Indenture or other Security Document (all rents and revenues of the Mortgaged Premises as trustee for the benefit of Mortgagee and Mortgagorwhich, and so long as no such event of default has occurred and be continuingwhether paid to Mortgagor or Mortgagee, shall be permitted made available to apply Mortgagor for 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 appointedpurpose).

Assignment of Rents, Issues and Profits. Mortgagor, (a) Mortgagor hereby absolutely and unconditionally and absolutely, assigns to Mortgagee the rentsMortgagee, 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 Premisesconsideration for the transactions contemplated by this Mortgage and the other Loan Documents, the Rents and Leases and other documents or instruments evidencing the Rents now or hereafter in effect and any and all deposits or letters of credit held as security under the Leases, it being intended by Mortgagor and Mortgagee that such assignment constitutes an absolute and present assignment and not an assignment for additional security only. Nothing contained in the foregoing sentence shall be construed to apply the monies received, after payment of all necessary charges and expenses, bind Mortgagee to the Obligationsperformance of any of the covenants, upon default conditions or provisions contained in any such Lease or other document or otherwise to impose any obligation on Mortgagee (including any liability under the Agreements or this Mortgage. Prior to written notice given by covenant of quiet enjoyment contained in any Lease), except that 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 accountable for any money or security actually received pursuant to apply such rents assignment. Such assignment and revenues grant shall continue in effect until the Obligations have been indefeasibly paid in full, the execution of this Mortgage constituting and evidencing the irrevocable consent of Mortgagor 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, entry upon 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 taking possession of the Mortgaged PremisesProperty by Mortgagee and the exercise by Mortgagee of the rights and powers granted pursuant hereto, or that portion occupied by Mortgagorincluding, to Mortgagee or to any receiver appointed.without limitation, those set forth in clauses (i) through (vii) below, regardless of whether foreclosure has been instituted and without applying for a receiver. Such assignment shall include, without limitation:

Assignment of Rents, Issues and Profits. Mortgagor, unconditionally Obligor hereby assigns and absolutely, assigns transfers to Mortgagee the Lender all the rents, issues, issues and profits of the Mortgaged Premises as further security Premises, whether now or hereafter accruing, and hereby gives to and confers upon the Lender the right, power and authority to collect such rents, issues and profits. Obligor irrevocably appoints the Lender its true and lawful attorney-in-fact, at the option of the Lender 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 Obligor or the Lender, for all such rents, issues and profits and apply the payment same to the Obligations secured hereby; provided, however, that Obligor shall have the right to collect such rents, issues and profits (but rents shall not be collected for more than two months in advance) prior to or at any time there is not a default or an event of default under any of the instruments or documents evidencing or securing any of the Obligations, the Related Documents or this Restated Mortgage. The assignment of rents, issues and grants profits of the Premises in this Section is intended to Mortgagee be an absolute assignment from Obligor to the Lender and not merely the passing of a security interest but Obligor shall have the right to enter upon collect 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 same so long as no such default or event of default has under any of the instruments or documents evidencing or securing any of the Obligations, the Related Documents or this Restated Mortgage shall have occurred and be continuing. Upon any occurrence of a default or an event of default under any of the instruments or documents evidencing or securing any of the Obligations, shall be permitted to apply such rents the Related Documents or this Restated Mortgage, the Lender may, at any time without notice, either in person, by agent or by a receiver appointed by a court, and revenues without regard to the account of the Mortgage or such other legitimate purposes. In the event adequacy 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 security for the use Obligations hereby secured, enter upon 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 take possession of the Mortgaged Premises, or that portion occupied by Mortgagorany part thereof, and in its own name xxx for or otherwise collect such rents, issues and profits, including those past due and unpaid, and apply the same in accordance with the provisions of 3.3(b) hereof. The collection of such rents, issues and profits, or the entering upon and taking possession of the Premises, or the application thereof as aforesaid, shall not cure or waive any default or notice of default hereunder or invalidate any act done in response to Mortgagee such default or pursuant to such notice of default. Obligor shall not execute any other assignment of the income, rents, issues or profits, or any part thereof, from the Premises to any receiver appointedperson or entity other than the Lender, unless the Lender shall first consent to such assignment in writing and unless such assignment shall expressly provide that it is subordinate to the assignment contained in this Restated Mortgage and any assignment executed pursuant hereto or concerning the Obligations secured hereby.

Assignment of Rents, Issues and Profits. MortgagorMortgagor hereby assigns and transfers all of the Rents to Mortgagee, unconditionally and absolutely, assigns hereby gives to and confers upon Mortgagee the rentsright, issuespower and authority to collect the Rents. Mortgagor irrevocably appoints Mortgagee its true and lawful attorney-in-fact, at the option of Mortgagee at any time and profits from time to time while this Mortgage remains in effect, to demand, receive and enforce payment; to give receipts, releases and satisfactions; to xxx, in the name of the Mortgaged Premises as further security Mortgagor or Mortgagee, 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, Rents; and to apply the monies received, after payment of all necessary charges and expenses, same to the Obligationsindebtedness secured hereby; provided, upon default under the Agreements or this Mortgage. Prior to written notice given by Mortgagee to Mortgagor however, that so long as no Event of the occurrence of an event of defaultDefault exists, Mortgagor shall have the privilege right to collect and receive all rents and revenues use the Rents in the ordinary course of its business (but not more than ninety days in advance unless the written approval of Mortgagee has first been obtained). The assignment of the Mortgaged Premises as trustee for the benefit of Rents in this Article III is intended to be an absolute assignment from Mortgagor to Mortgagee and Mortgagornot merely the passing of a security interest. Upon request by Mortgagee, Mortgagor shall, from time to time hereafter, execute and deliver to Mortgagee recordable assignments in form satisfactory to Mortgagee of any or all leases, subleases, licenses, and so long as no such event of default has occurred and be continuing, shall be permitted to apply such rents and revenues concession or other agreements with respect to the account use or occupancy of the Mortgage Estate or such any portion thereof by any person other legitimate purposes. In the event of than Mortgagor now or hereafter affecting any such default, Mortgagor shall pay to Mortgagee, or to any receiver appointed to collect the rents, issues, and profits portion 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 appointedMortgage Estate.

Assignment of Rents, Issues and Profits. Mortgagor(a) Subject to the limitations contained herein, unconditionally and absolutely, the Mortgagor hereby assigns to the Mortgagee on its own behalf and on behalf of the Holders the rents, issues, issues and profits derived from (i) all leases of the Mortgaged Premises now or hereafter entered into by the Mortgagor and (ii) all occupancy, license and concession agreements in respect of any part of the Mortgaged Premises now or hereafter entered into, all as further collateral security for the payment of the ObligationsLiabilities, and the Mortgagor grants to the Mortgagee the right to enter upon the Mortgaged Premises for the purpose of collecting them, the same and to let all lease the Mortgaged Property, or any part of the Mortgaged Premisesthereof, and to apply said rents, issues and profits on account of the monies receivedLiabilities. This assignment, after payment grant and right to apply rents, issues and profits shall continue in effect until the Liabilities are paid in full, but the Mortgagee hereby waives the right to enter the Mortgaged Premises and/or to collect said rents, issues and profits, and the Mortgagor shall be entitled to collect, receive, use and retain said rents, issues and profits, until the occurrence of and during the continuation of an Event of Default; such right of the Mortgagor to exercise all necessary charges such rights, including the right to collect, receive, use and expensesretain said rents, issues and profits may be revoked by the Mortgagee upon the occurrence of and during the continuation of an Event of Default by the Mortgagee giving written notice of such revocation to the Obligations, upon default Mortgagor. The Mortgagor shall not accept prepayments of installments of rent under the Agreements or this Mortgageleases which payments would, in the aggregate for all such leases, exceed the sum of $1,000,000 (except for tenant finish work performed with respect to any such lease). Prior to written notice given by Mortgagee to Mortgagor of If, following the occurrence of an event Event of defaultDefault, the Mortgagee shall thereafter elect to discontinue the exercise of any right or remedy assigned or granted to the Mortgagee on its own behalf and on behalf of the Holders pursuant to this Section 11 or such Event of Default has otherwise been cured, the Mortgagor's rights under this subsection 11(a) shall be automatically reinstated, subject to the same or any other right or remedy hereunder being reasserted at any time and from time to time following any subsequent Event of Default. Anything herein to the contrary notwithstanding, the rights of the Mortgagor shall have the privilege to collect and receive or retain any sums shall not apply to amounts to be used by Mortgagor to cure an Event of Default or otherwise make any payment in respect of Securities or make any payment or perform any obligation under the Indenture or other Security Document (all rents and revenues of the Mortgaged Premises as trustee for the benefit of Mortgagee and Mortgagorwhich, and so long as no such event of default has occurred and be continuingwhether paid to Mortgagor or Mortgagee, shall be permitted made available to apply Mortgagor for 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 appointedpurpose).