Right to Rely. Grantor hereby irrevocably authorizes and directs the tenants under the Leases to pay Rents to Noteholder upon written demand by Noteholder without further consent of Grantor, and the tenants may rely upon any written statement delivered by Noteholder to the tenants. Any such payment to Noteholder shall constitute payment to Grantor under the Leases. The provisions of this Paragraph are intended solely for the benefit of the tenants and shall never inure to the benefit of Grantor or any person claiming through or under Grantor, other than a tenant who has not received such notice. The assignment of Rents set forth in Paragraph 3.1 is not contingent upon any notice or demand by Noteholder to the tenants.
Appears in 2 contracts
Samples: Deed of Trust, Security Agreement and Assignment of Rents and Leases (International Isotopes Inc), Deed of Trust, Security Agreement and Assignment of Rents and Leases (Independent Research Agency for Life Insurance Inc)
Right to Rely. Grantor hereby irrevocably authorizes and directs the tenants under the Leases to pay Rents to Noteholder the Collateral Agent upon written demand by Noteholder the Collateral Agent without further consent of Grantor, and the tenants may rely upon any written statement delivered by Noteholder the Collateral Agent to the tenants. Any such payment to Noteholder the Collateral Agent shall constitute payment to Grantor under the Leases. The provisions of this Paragraph are intended solely for the benefit of the tenants and shall never inure to the benefit of Grantor or any person claiming through or under Grantor, other than a tenant who has not received such notice. The assignment of Rents set forth in Paragraph 3.1 is not contingent upon any notice or demand by Noteholder the Collateral Agent to the tenants.
Appears in 1 contract
Samples: Term Loan and Revolving Credit Facility Agreement (Stolt Nielsen S A)
Right to Rely. Grantor hereby irrevocably authorizes and directs the tenants under the Leases to pay Rents to Noteholder upon written demand by Noteholder without further consent of Grantor, and the tenants may rely upon any written statement delivered by Noteholder to the tenants. Any such payment to Noteholder shall constitute payment to Grantor under the Leases. The provisions of this Paragraph are intended solely for the benefit of the tenants and shall never inure to the benefit of Grantor or any person claiming through or under Grantor, other than a tenant who has not received such notice. The assignment of Rents set forth in Paragraph 3.1 is not contingent upon any notice or demand by Noteholder to the tenants.
Appears in 1 contract
Samples: Deed of Trust, Security Agreement and Assignment of Rents and Leases (Newmark Homes Corp)
