Leases and other Agreements Affecting Property. (a) As additional security for the Secured Obligations, Grantor presently and unconditionally assigns and transfers to Agent all of Grantor’s right, title and interest in and to the Leases and the Revenues, including those now due, past due or to become due by virtue of any of the Leases for the occupancy or use of all or any part of the Property. Grantor hereby authorizes Agent or Agent’s agents to collect the Revenues and hereby directs such tenants, lessees and licensees of the Property to pay the Revenues to Agent or Agent’s agents; provided, however, Grantor shall have a license (revocable upon the occurrence and during the continuance of an Event of Default) to collect and receive the Revenues. Grantor agrees that each and every tenant, lessee and licensee of the Property may pay, and hereby irrevocably authorizes and directs each and every tenant, lessee and licensee of the Property to pay, the Revenues to Agent or Agent’s agents on Agent’s written demand therefor (which demand may be made by Agent at any time after the occurrence and during the continuance of an Event of Default) without any obligation on the part of said tenant, lessee or licensee to inquire as to the existence of an Event of Default and notwithstanding any notice or claim of Grantor to the contrary, and Grantor agrees that Grantor shall have no right or claim against said tenant, lessee or licensee for or by reason of any Revenues paid to Agent following receipt of such written demand.
Leases and other Agreements Affecting Property. Grantor will duly and punctually perform in all material respects all terms, covenants, conditions and agreements binding upon it under any Lease or any other agreement of any nature whatsoever which involves or affects the Property or any part thereof. Grantor will not enter into, modify, surrender or terminate, either orally or in writing, any Lease now existing or hereafter created upon the Property or any part thereof, nor will Grantor permit an assignment or a subletting by any tenant other than in accordance with the terms of the Credit Agreement. Grantor will not accept payment of rent more than one (1) month in advance without the prior written consent of Grantee. In order to further secure payment of the Secured Obligations and the observance, performance and discharge of Grantor's obligations, Grantor hereby collaterally assigns, transfers and sets over unto Grantee all of Grantor's right, title and interest in, to and under all Leases affecting the Property or any part thereof and in and to all of the rents, issues, profits, revenues, awards and other benefits now or hereafter arising from the use and enjoyment of the Property or any part thereof; reserving only the right to Grantor to collect and use the same so long as no Event of Default is continuing. Grantee shall be entitled to require, and Grantor shall use its best efforts to obtain, the execution of tenant estoppels and subordination, non-disturbance and attornment agreements from any Major Tenant (as defined in the Credit Agreement) in a form specified by the related tenant Lease, if any, and reasonably acceptable to Grantee. Grantor hereby authorizes and directs each present and future tenant of the Property to pay to Grantee all rents and any other sums due Grantor as landlord and to perform for the direct benefit of Grantee any other obligations of such tenant to Grantor as landlord, as if Grantee were the landlord under such tenant's Lease, immediately upon receipt of a written demand by Grantee to make such payment or perform such obligation during the existence of an Event of Default. No such demand by Grantee shall constitute or be deemed to constitute any assumption by Grantee of any obligations of the landlord under such tenant's Lease. No such demand by Grantee shall constitute or be deemed to constitute any wrongful interference by Grantee in the affairs or business relationships for ascertaining whether any such demand by Grantee is authorized or whether a default by Granto...
Leases and other Agreements Affecting Property. The Grantor will duly and punctually perform all terms, covenants, conditions and agreements binding upon the Grantor under any lease or any other agreement of any nature whatsoever which involves or affects the Mortgaged Property or any part thereof. The Grantor will furnish the Beneficiary with executed copies of all leases now or hereafter created upon the Mortgaged Property or any part thereof, and all leases now or hereafter entered into will be in form and substance subject to the prior written approval of the Beneficiary. The Grantor will not, without the express written approval of the Beneficiary (which approval will not be unreasonably withheld or delayed), modify, surrender or terminate, either orally or in writing, any lease now existing or hereafter created upon the Mortgaged Property or any part thereof, nor will the Grantor permit an assignment or a subletting by any tenant without the prior express written approval of the Beneficiary. The Grantor will not accept payment of rent more than one month in advance without the prior express written approval of the Beneficiary.
Leases and other Agreements Affecting Property. Except as otherwise disclosed in the Property Information, Title Commitment or Recorded Documents delivered to Buyer, there are no leases of or any tenancy in the Property or any unrecorded contracts or agreements that affect the Property and, for any such leases, tenancies, contracts or agreements that do exist and, pursuant to the terms hereof will survive Closing, to Seller's knowledge, the same are in full force and effect and neither Seller nor the other parties thereto are in default thereunder, nor is there any existing set of circumstances which with the giving of notice or the passage of time, or both, would constitute such a default by Seller or such other parties thereto.
Leases and other Agreements Affecting Property. The Grantor will duly and punctually perform all terms, covenants, conditions and agreements binding upon the Grantor under any lease or any other agreement of any nature whatsoever which involves or affects the Mortgaged Property or any part thereof. The Grantor will furnish the Beneficiary with executed copies of all leases now or hereafter created upon the Mortgaged Property or any part thereof, and all leases now or hereafter entered into will be in form and substance subject to the prior written approval of the Beneficiary (which approval will not be unreasonably withheld or delayed); provided, however, if Beneficiary does not provide its express written approval within ten (10) business days following receipt of Grantor’s request for Beneficiary’s approval, Beneficiary’s approval shall be automatically deemed as given. The Grantor will not, without the express written approval of the Beneficiary (which approval will not be unreasonably withheld or delayed), modify, surrender or terminate, either orally or in writing, any lease now existing or hereafter created upon the Mortgaged Property or any part thereof, nor will the Grantor permit an assignment or a subletting by any tenant without the prior express written approval of the Beneficiary (which approval will not be unreasonably withheld or delayed); provided, however, that non-material modifications to any lease shall not require Beneficiary’s prior written approval.
Leases and other Agreements Affecting Property. Obligor will duly and punctually perform all terms, covenants, conditions and agreements binding upon it under any lease or any other agreement of any nature whatsoever which involves or affects the Property or
Leases and other Agreements Affecting Property. (a) As additional security for the Secured Obligations, Grantor presently and unconditionally assigns and transfers to Agent all of Grantor’s right, title and interest in and to the Leases and the Revenues, including those now due, past due or to become due by virtue of any of the Leases for the occupancy or use of all or any part of the Property. Grantor acknowledges and agrees that the assignment of rents hereunder to Agent is intended to be an absolute present assignment of rents pursuant to MCLA 554.231 et seq. and MCLA 565.81 et seq. and that as such, upon the occurrence of a default and without any action by Agent, Grantor shall have no further right to collect or otherwise receive such rents and that such rents will be the absolute and sole property of Agent pursuant to said statute. Grantor hereby authorizes Agent or Agent’s agents to collect the Revenues and hereby directs such tenants, lessees and licensees of the Property to pay the Revenues to Agent or Agent’s agents; provided, however, Grantor shall have a license (revocable upon the occurrence and during the continuance of an Event of Default) to collect and receive the Revenues. Grantor agrees that each and every tenant, lessee and licensee of the Property may pay, and hereby irrevocably authorizes and directs each and every tenant, lessee and licensee of the Property to pay, the Revenues to Agent or Agent’s agents on Agent’s written demand therefor (which demand may be made by Agent at any time after the occurrence and during the continuance of an Event of Default) without any obligation on the part of said tenant, lessee or licensee to inquire as to the existence of an Event of Default and notwithstanding any notice or claim of Grantor to the contrary, and Grantor agrees that Grantor shall have no right or claim against said tenant, lessee or licensee for or by reason of any Revenues paid to Agent following receipt of such written demand. Agent shall be entitled to all the rights and remedies conferred by Act No. 210 of the Michigan Public Acts of 1953 as amended by Act No. 151 of the Michigan Public Acts of 1966 (MCL Section 554.231, et seq.), and Act No. 228 of the Michigan Public Acts of 1925 (MCL Section 554.211, et seq.), and Act No. 66 of the Michigan Public Acts of 1956 (MCL Section 565.81, et seq.).
Leases and other Agreements Affecting Property. (a) Obligor will duly and punctually perform all terms, covenants, conditions and agreements binding upon it under any lease or any other agreement of any nature whatsoever which involves or affects the Property or any part thereof. Obligor will, at the request of Collateral Agent, furnish Collateral Agent with executed copies of all leases now or hereafter created upon the Property or any part thereof and, subject to Section 5.05 of the Credit Agreement, all leases now or hereafter entered into will be in form and substance subject to the prior approval of Collateral Agent. Subject to Section 5.05 of the Credit Agreement, Obligor will not, without the express written consent of the Required Lenders, modify, surrender or terminate, either orally or in writing, any lease now existing or hereafter created upon the Property or any part thereof, nor will Obligor permit an assignment or a subletting by any tenant without the prior express written consent of Collateral Agent. In order to further secure payment of the Secured Obligations and the observance, performance and discharge of Obligor's obligations, Obligor hereby assigns, transfers and sets over under Collateral Agent all of Obligor's right, title and interest in, to and under all leases affecting the Property or any part thereof and in and to all of the rents, issues, profits, revenues, awards and other benefits now or hereafter arising from the use and enjoyment of the Property or any part thereof; reserving only the right to Obligor to collect the same so long as Obligor is not in default hereunder.
Leases and other Agreements Affecting Property. As additional security for the Secured Debt up to the Maximum Amount, pursuant to Chapter 2 of Title XX-A of Book II of the Louisiana Civil Code and La. R.S. 9:4401, Mortgagor presently and unconditionally pledges, assigns and transfers to Lender all of Mortgagor’s right, title and interest in and to the Leases and the Revenues, including those now due, past due or to become due by virtue of any of the Leases for the occupancy or use of all or any part of the Property. Mortgagor further collaterally assigns and pledges to Lender all of Xxxxxxxxx’s right, title and interest in and to the Leases and the Revenues, including those now due, past due or to become due by virtue of any of the Leases for the occupancy or use of all or any part of the Property pursuant to the provisions of Louisiana Revised Statutes 9:4401. Mortgagor hereby authorizes Lender or Lender’s agents to collect the Revenues and hereby directs such tenants, lessees and licensees of the Property to pay the Revenues to Lender or Lender’s agents; provided, however, Mortgagor shall have a license (revocable upon the occurrence and during the continuance of an Event of Default) to collect, receive, and use the Revenues (in accordance with the terms of the Leases) as trustee for the benefit of Lender, and apply the Revenues so collected to the Secured Debt, to the extent then due and payable, then to the payment of normal and customary operating expenses, real estate taxes and insurance for the Property which are then due and payable, with the balance, so long as no Event of Default has occurred and is continuing, to the account of Mortgagor. Xxxxxxxxx agrees that each and every tenant, lessee and licensee of the Property may pay, and hereby irrevocably authorizes and directs each and every tenant, lessee and licensee of the Property to pay, the Revenues to Lender or Lender’s agents on Lender’s written demand therefor (which demand may be made by Lender at any time after the occurrence and during the continuance of an Event of Default) without any obligation on the part of said tenant, lessee or licensee to inquire as to the existence of an Event of Default and notwithstanding any notice or claim of Mortgagor to the contrary, and Xxxxxxxxx agrees that Xxxxxxxxx shall have no right or claim against said tenant, lessee or licensee for or by reason of any Revenues paid to Lender following receipt of such written demand. Mortgagor hereby covenants that Xxxxxxxxx has not executed any prior assignment ...
Leases and other Agreements Affecting Property. (a) (a) As additional security for the Secured Debt up to the Maximum Amount, pursuant to Chapter 2 of Title XX-A of Book II of the Louisiana Civil Code and La.
