Common use of Collection of Rents Clause in Contracts

Collection of Rents. Notwithstanding anything to the contrary contained herein, so long as no Event of Default with respect to the Notes shall occur and be continuing, Trustor shall have a license, revocable upon the occurrence and during the continuance of an Event of Default, to collect all Rents from the Property and to retain, use and enjoy the same and to otherwise exercise all rights with respect thereto, subject to the terms hereof. Upon the occurrence and during the continuance of an Event of Default, the license hereinabove granted to Trustor shall, without the requirement of the giving of notice or taking of any action by any party, be revoked, and Beneficiary shall have the complete right and authority to exercise and enforce any and all of its rights and remedies provided herein or by Applicable Laws.

Appears in 3 contracts

Samples: Deed of Trust, Security Agreement and Fixture Filing With Assignment of Rents (Fitzgeralds Gaming Corp), Deed of Trust, Security Agreement and Fixture Filing With Assignment of Rents (Fitzgeralds Gaming Corp), Deed of Trust, Security Agreement and Fixture Filing With Assignment of Rents (Fitzgeralds Gaming Corp)

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Collection of Rents. Notwithstanding anything to the contrary contained herein, so long as no Event of Default with respect to the Notes Loan Agreement shall occur and be continuing, Trustor shall have a license, revocable upon the occurrence and during the continuance of an Event of Default, Default to collect all Rents from the Property and to retain, use and enjoy the same and to otherwise exercise all rights with respect thereto, subject to the terms hereof. Upon the occurrence and during the continuance of an Event of Default, Default the license hereinabove granted to Trustor shall, without the requirement of the giving of notice or taking of any action by any party, be revoked, and Beneficiary shall have the complete right and authority to exercise and enforce any and all of its rights and remedies provided herein or by Applicable Laws.

Appears in 2 contracts

Samples: Loan and Security Agreement (Sands Regent), Deed of Trust, Security Agreement and Fixture Filing With Assignment of Rents (Fitzgeralds Gaming Corp)

Collection of Rents. Notwithstanding anything to the contrary contained herein, so long as no Event of Default with respect to the Notes shall occur and be continuing, Trustor the Trustors shall have a license, revocable upon the occurrence and during the continuance of an Event of Default, to collect all Rents from the Property and to retain, use and enjoy the same and to otherwise exercise all rights with respect thereto, subject to the terms hereof. Upon the occurrence and during the continuance of an Event of Default, the license hereinabove granted to Trustor the Trustors shall, without the requirement of the giving of notice or taking of any action by any party, be revoked, and Beneficiary shall have the complete right and authority to exercise and enforce any and all of its rights and remedies provided herein or by Applicable Laws.

Appears in 1 contract

Samples: Leasehold and Fee Deed of Trust, Security Agreement and Fixture Filing With Assignment of Rents (Oasis Interval Ownership, LLC)

Collection of Rents. Notwithstanding anything to the contrary contained herein, so long as no Event of Default with respect to the Notes shall occur and be continuing, Trustor shall have a license, revocable upon the occurrence and during the continuance of an Event of Default, to collect all Rents from the Property and to retain, use and enjoy the same and to otherwise exercise all rights with respect thereto, subject to the terms hereof. Upon the occurrence and during the continuance of an Event of Default, the license hereinabove granted to Trustor shall, without the requirement of the giving of notice or taking of any action by any party, be revoked, and Beneficiary shall have the complete right and authority to exercise and enforce any and all of its rights and remedies provided herein or by Applicable Laws.

Appears in 1 contract

Samples: Deed of Trust, Security Agreement and Fixture Filing With Assignment of Rents (Majestic Investor Capital Corp)

Collection of Rents. Notwithstanding anything to the contrary contained herein, so long as no Event of Default with respect to the Notes shall occur and be continuing, Trustor shall have a license, revocable upon the occurrence and during the continuance of an Event of Default, to collect all Rents from the Property and to retain, use and enjoy the same and to otherwise exercise all rights with respect thereto, subject to the terms hereof. Upon the occurrence and during the continuance of an Event of Default, the license hereinabove granted to Trustor shall, without the requirement of the giving of notice or taking of any action by any party, be revoked, and Beneficiary shall have the complete right and authority to exercise and enforce any and all of its rights and remedies provided herein or by Applicable Laws.authority

Appears in 1 contract

Samples: Deed of Trust, Security Agreement and Fixture Filing With Assignment of Rents (Fitzgeralds Gaming Corp)

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Collection of Rents. Notwithstanding anything to the contrary contained herein, so long as no Event of Default with respect to the Notes shall occur and be continuing, Trustor shall have a license, revocable upon the occurrence and during the continuance of an Event of Default, to collect all Rents from the Property and to retain, use and enjoy the same and to otherwise exercise all rights with respect thereto, subject to the terms hereof. Upon the occurrence and during the continuance of an Event of Default, the license hereinabove granted to Trustor shall, without the requirement of the giving of notice or taking of any action by any party, be revoked, and Beneficiary shall have the complete right and authority to exercise and enforce any and all of its rights and remedies provided herein or by Applicable Laws.Beneficiary

Appears in 1 contract

Samples: Deed of Trust, Security Agreement and Fixture Filing With Financing Statement and Assignment of Rents (Fitzgeralds Gaming Corp)

Collection of Rents. Notwithstanding anything to the contrary contained herein, so long as no Event of Default with respect to the Notes shall occur and be continuing, Trustor shall have a license, revocable upon the occurrence and during the continuance of an Event of Default, to collect all Rents from the Property and to retain, use and enjoy the same and to otherwise exercise all rights with respect thereto, subject to the terms hereof. Upon the occurrence and during the continuance of an Event event of Default, the license hereinabove granted to Trustor shall, without the requirement of the giving of notice or taking of any action by any party, be revoked, and Beneficiary beneficiary shall have the complete right and authority to exercise and enforce any and all of its rights and remedies provided herein or by Applicable Laws.

Appears in 1 contract

Samples: Deed of Trust (Fitzgeralds Gaming Corp)

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