ASSIGNMENT TO MORTGAGEE. The right, title and interest of Assignee in and to this Assignment has been assigned to and is subject to a security interest in favor of Wilmington Trust Company, as Mortgagee under the Trust Indenture, for the benefit of the Noteholders and the Indenture Indemnitees referred to in such Trust Indenture, all to the extent provided in such Trust Indenture. Assignor hereby consents to such assignment and to the creation of such security interest in and to this Assignment.
ASSIGNMENT TO MORTGAGEE. With reference to any assignment by Landlord of Landlord’s interest in this Lease, or the rents payable hereunder, conditional in nature or otherwise, which assignment is made to the Holder of a Mortgage on property which includes the Premises, Tenant agrees that the execution thereof by Landlord, and the acceptance thereof by the Holder of such Mortgage shall never be treated as an assumption by such Holder of any of the obligations of Landlord hereunder unless such Holder shall, by notice sent to Tenant, specifically otherwise elect and, except as aforesaid, such Holder shall be treated as having assumed Landlord’s obligations hereunder only upon foreclosure of such holder’s Mortgage and the taking of possession of the Premises.
ASSIGNMENT TO MORTGAGEE. The right, title and interest of the Assignee in and to this Restated Assignment has, contemporaneously with the execution and delivery hereof, been assigned to and is subject to a security interest in favor of the Mortgagee (as such terms and the other capitalized terms used hereinafter in this sentence are defined in Appendix A to the Lease) under the Trust Indenture, for the benefit of the Loan Participants and the Note Holders referred to the Trust Indenture, all to the extent provided in such Trust Indenture. The Assignor hereby consents to such assignment and to the creation of such security interest in and to this Restated Assignment.
ASSIGNMENT TO MORTGAGEE. In the event of the foreclosure of this Mortgage or other transfer of the title to the Property in extinguishment of the Secured Indebtedness, all right, title and interest of Mortgagor in and to any insurance policy, or premiums or payments in satisfaction of claims or any other rights under these insurance policies and any other insurance policies covering the Property shall pass to the transferee of the Property.
ASSIGNMENT TO MORTGAGEE. Mortgagor hereby assigns to Mortgagee the 365(h) Election with respect to each Mortgaged Lease until the Obligations have been indefeasibly paid in full in cash, the Letters of Credit have expired or are terminated, and the Commitments terminated. Mortgagor acknowledges and agrees that the foregoing assignment of the 365(h) Election and related rights is one of the rights that Mortgagee may use at any time to protect and preserve Mortgagee’s other rights and interests under this Mortgage. Mortgagor further acknowledges that exercise of the 365(h) Election in favor of terminating any Mortgaged Lease would constitute waste prohibited by this Mortgage.
ASSIGNMENT TO MORTGAGEE. Mortgagor hereby assigns to Mortgagee the 365(h) Election with respect to each Mortgaged Lease until the Secured Obligations have been indefeasibly paid in full in cash. Mortgagor acknowledges and agrees that the foregoing assignment of the 365(h) Election and related rights is one of the rights that Mortgagee may use at any time to protect and preserve Mortgagee’s other rights and interests under this Mortgage. Mortgagor further acknowledges that exercise of the 365(h) Election in favor of terminating any Mortgaged Lease would constitute waste prohibited by this Mortgage.
ASSIGNMENT TO MORTGAGEE. Tenant acknowledges that this Lease has been or will be assigned by Landlord to the holder or holders of a Mortgage pursuant to an Assignment of Rents and Leases (or similar document) and agrees not to look to such holders as mortgagee, mortgagee in possession or successor in title to the Premises for accountability for the Security Deposit required under this Lease unless such sum has actually been received in cash by such holder or holders as security for Tenant’s performance under this Lease. In addition, any letter of credit or other instrument that Tenant provides to Landlord in lieu of a cash security deposit (if any) will, if permitted by applicable Laws, name the holder of the first priority Mortgage as payee or mortgagee thereunder (or, at such holder’s option, be fully assigned to and held by such holder).
ASSIGNMENT TO MORTGAGEE. Mortgagor hereby assigns to Mortgagee the 365(h) Election with respect to any Facility Lease. Mortgagor acknowledges and agrees that the foregoing assignment of the 365(h) Election and related rights is one of the rights that Mortgagee may use at any time to protect and preserve Mortgagee's other rights and interests under this Leasehold Mortgage. Mortgagor further acknowledges that exercise of the 365(h) Election in favor of terminating any Facility Lease would constitute waste prohibited by this Leasehold Mortgage. Mortgagor acknowledges and agrees that the 365(h) Election is in the nature of a remedy available to Mortgagor under a Facility Lease, and is not a property interest that Mortgagor can separate from the Facility Lease as to which it arises. Therefore, Mortgagor agrees and acknowledges that exercise of the 365(h) Election in favor of preserving the right to possession under a Facility Lease shall not be deemed to constitute Mortgagee's taking or sale of the Mortgaged Property (or any element thereof) and shall not entitle Mortgagor to any credit against the Obligations secured hereunder or otherwise impair Mortgagee's Remedies.
ASSIGNMENT TO MORTGAGEE. Mortgagor hereby assigns, sets over and transfers to Mortgagee all Insurance Proceeds and Taking Proceeds and authorizes payment of such Proceeds to be made directly to Mortgagee which shall, upon Mortgagor’s written request, apply such proceeds or portion thereof to the portion or portions of the Premises damaged or destroyed or, if a Taking, such portion or portions not taken (the “Work”), on the following terms and conditions:
(A) Mortgagor shall have provided plans and specifications for the Work which have been approved by Mortgagee, as well as the general contractor and principal subcontractors and suppliers, and the Work shall restore the Premises to at least the same economic value as prior to the Casualty or Taking;
(B) Mortgagee shall be satisfied that the Insurance or Taking Proceeds are sufficient to complete the Work or, if insufficient, Mortgagor has deposited with Mortgagee sufficient additional funds to complete the Work;
(C) The Work can be completed within six (6) months of the Casualty or Taking, but in no event later than the maturity date of the Note; and
(D) The Insurance or Taking Proceeds shall be disbursed as the Work progresses in installments, subject to the requirements that Mortgagee is satisfied at all times that it has sufficient funds remaining from such proceeds to complete the Work, and that such certifications, lien waivers, releases, affidavits, and title updates are delivered to Mortgagee as it may reasonably require. Any portion of Insurance or Taking Proceeds remaining after payment of the costs of the Work may be applied by Mortgagee in its sole discretion to pay down the principal balance of the indebtedness secured hereby, provided such payment shall not be subject to any prepayment premium or penalty contained in the Note. The foregoing notwithstanding, Mortgagee shall not be obligated hereunder to disburse any Insurance or Taking Proceeds to repair, rebuild, or restore the Premises, and may apply such proceeds to payment of the indebtedness secured hereby, either in whole or in part, in an order determined by Mortgagee in its sole unfettered discretion if an Event of Default that cannot be cured by the repair, restoration, and/or rebuilding of the Premises shall have occurred and remains uncured as of the date of the Casualty or Taking or anytime thereafter prior to completion of the Work . Mortgagee shall not be a trustee with respect to any Insurance Proceeds or Taking Proceeds, but shall hold such funds in a s...
ASSIGNMENT TO MORTGAGEE. The Tenant declares that the Landlord may assign the Landlord's rights under this Lease to a purchaser of the property or to lender or lenders as collateral security for any loan to the Landlord and in the event that such an assignment is given and executed by the Landlord and notification is given to the Tenant, the Tenant, if so requested, will without cost, at any time, and from time to time:
i) execute an Acknowledgement concerning the performance and observance by the landlord of the Landlord's obligations under this Lease and concerning the payment by the Tenant of the rent reserved and other sums payable by and under this Lease as may be required by such mortgagee or mortgagees or by such purchaser or purchasers;
ii) certify that this Lease is unmodified and is in full force and effect (or if modified, stating the modification and that the same is in full force and effect as modified);
iii) provide particulars of any monies or security deposited hereunder with the Landlord and advise whether or not there is any existing default on the part of the Landlord of which the Tenant has notice;
iv) provide such evidence as may be required by the purchaser or mortgagee that the Demised Premises have been satisfactorily completed. If the Demised Premises are not so completed the Tenant shall given an itemized list of the uncompleted items. It is hereby agreed that any such statement delivered pursuant to the provisions of this paragraph may be conclusively relied upon by any purchaser and/or mortgagee, save as to any default on the part of the Landlord of which the Tenant does not have notice at the date thereof. If the Tenant fails to give such statement within ten (10) days after the receipt of notice requesting same, then the Landlord may sign such statement as Attorney for the Tenant and the contents of such statement shall be binding on the Tenant.
