Common use of Grantee's Covenants Clause in Contracts

Grantee's Covenants. (a) Although this assignment of Leases and Rents constitutes a present and absolute assignment of the Leases and the Rents, as long as there is no Event of Default on the part of Grantor, Grantee will not require that such Rents be paid directly to Grantee, and Grantor will have a license to collect and use the Rents for subsequent application as provided above;

Grantee's Covenants. (a) Although this assignment of Leases and Leasxx xxx Rents constitutes a present and absolute assignment of the Leases and the Rents, as long as there is no Event of Default on the part of Grantor, Grantee will not require that such Rents be paid directly to Grantee, and Grantor will have a license to collect and use the Rents for subsequent application as provided above;