Common use of Rights Relating to Rents Clause in Contracts

Rights Relating to Rents. Grantor has, pursuant to this Deed of Trust, assigned absolutely to Beneficiary all Rents under each of the Leases. Beneficiary, or Trustee on Beneficiary’s behalf, may at any time, and without notice, either in person, by agent or by receiver to be appointed by a court, enter and take possession of the Property or any part thereof, and in its own name, xxx for or otherwise collect the Rents. Grantor hereby agrees that, upon the occurrence of an Event of Default, the License granted to Grantor shall automatically terminate, and thereafter Beneficiary may direct the lessees under the Leases (“Lease Rent Notice”) to pay directly to Beneficiary the Rents due and to become due under the Leases and attorn in respect of all other obligations thereunder directly to Beneficiary, or Trustee on Beneficiary’s behalf, without any obligation on the part of Trustee or Beneficiary to determine whether an Event of Default does in fact exist or has in fact occurred. All Rents collected by Beneficiary, or Trustee acting on Beneficiary’s behalf, shall be applied as provided for in this Deed of Trust; provided, however, that if the costs, expenses and attorneys’ fees shall exceed the amount of Rents collected, the excess shall be added to the Liabilities, shall bear interest at the rate borne by the Tranche A Loans and shall be immediately due and payable. The entering upon and taking possession of the Property, the collection of Rents and the application thereof as aforesaid shall not cure or waive any Event of Default or notice of default, if any, hereunder nor invalidate any act done pursuant to such notice, except to the extent any such default is fully cured. Failure or discontinuance by Beneficiary, or Trustee on Beneficiary’s behalf, at any time or from time to time, to collect said Rents shall not in any manner impair the subsequent enforcement by Beneficiary, or Trustee on Beneficiary’s behalf, of the right, power and authority herein conferred upon it. Nothing contained herein, nor the exercise of any right, power or authority herein granted to Beneficiary, or Trustee on Beneficiary’s behalf, shall be, or shall be construed to be, an affirmation by it of any tenancy, lease, or option, nor an assumption of liability under, nor the subordination of, the lien or charge of this Deed of Trust, to any such tenancy, lease or option, nor an election of judicial relief, if any such relief is requested or obtained as to Leases or Rents, with respect to the Property or any collateral given by Grantor to Beneficiary. In addition, from time to time Beneficiary may elect, and notice hereby is given to each lessee under any Lease, to subordinate the lien of this Deed of Trust to any Lease by unilaterally executing and recording an instrument of subordination, and upon such election the lien of this Deed of Trust shall be subordinate to the Lease identified in such instrument of subordination; provided, however, in each instance such subordination will not affect or be applicable to, and expressly excludes any lien, charge, encumbrance, security interest, claim, easement, restriction, option, covenant and other rights, titles, interests or estates of any nature whatsoever with respect to all or any part of the Property to the extent that the same may have arisen or intervened during the period between the recordation of this Deed of Trust and the execution of the Lease identified in such instrument of subordination.

Rights Relating to Rents. Grantor has, pursuant to this Deed of Trust, assigned absolutely to Beneficiary all Rents under each of the Leases. Beneficiary, or Trustee on Beneficiary’s behalf, may at any time, and without notice, either in person, by agent or by receiver to be appointed by a court, enter and take possession of the Property or any part thereof, and in its own name, xxx for or otherwise collect the Rents. Grantor hereby agrees that, upon the occurrence of an Event of Default, the License granted to Grantor shall automatically terminate, and thereafter Beneficiary may direct the lessees under the Leases (“Lease Rent Notice”) to pay directly to Beneficiary the Rents due and to become due under the Leases and attorn in respect of all other obligations thereunder directly to Beneficiary, or Trustee on Beneficiary’s behalf, without any obligation on the part of Trustee or Beneficiary to determine whether an Event of Default does in fact exist or has in fact occurred. All Rents collected by Beneficiary, or Trustee acting on Beneficiary’s behalf, shall be applied as provided for in this Deed of Trust; provided, however, that if the costs, expenses and attorneys’ fees shall exceed the amount of Rents collected, the excess shall be added to the Liabilities, shall bear interest at the rate borne by the Tranche A Loans Securities and shall be immediately due and payable. The entering upon and taking possession of the Property, the collection of Rents and the application thereof as aforesaid shall not cure or waive any Event of Default or notice of default, if any, hereunder nor invalidate any act done pursuant to such notice, except to the extent any such default is fully cured. Failure or discontinuance by Beneficiary, or Trustee on Beneficiary’s behalf, at any time or from time to time, to collect said Rents shall not in any manner impair the subsequent enforcement by Beneficiary, or Trustee on Beneficiary’s behalf, of the right, power and authority herein conferred upon it. Nothing contained herein, nor the exercise of any right, power or authority herein granted to Beneficiary, or Trustee on Beneficiary’s behalf, shall be, or shall be construed to be, an affirmation by it of any tenancy, lease, or option, nor an assumption of liability under, nor the subordination of, the lien or charge of this Deed of Trust, to any such tenancy, lease or option, nor an election of judicial relief, if any such relief is requested or obtained as to Leases or Rents, with respect to the Property or any collateral given by Grantor to Beneficiary. In addition, from time to time Beneficiary may elect, and notice hereby is given to each lessee under any Lease, to subordinate the lien of this Deed of Trust to any Lease by unilaterally executing and recording an instrument of subordination, and upon such election the lien of this Deed of Trust shall be subordinate to the Lease identified in such instrument of subordination; provided, however, in each instance such subordination will not affect or be applicable to, and expressly excludes any lien, charge, encumbrance, security interest, claim, easement, restriction, option, covenant and other rights, titles, interests or estates of any nature whatsoever with respect to all or any part of the Property to the extent that the same may have arisen or intervened during the period between the recordation of this Deed of Trust and the execution of the Lease identified in such instrument of subordination.

Rights Relating to Rents. Grantor Borrower has, pursuant to Section 9.1 of this Deed of TrustLien Instrument, assigned absolutely to Beneficiary Lender all Rents under each of the LeasesLeases covering all or any portion of the Mortgaged Property. BeneficiaryLxxxxx, or Trustee on BeneficiaryLxxxxx’s behalf, may at any time, and without notice, either in person, by agent agent, or by receiver to be appointed by a court, enter and take possession of the Mortgaged Property or any part thereof, and in its own name, xxx sue for or otherwise collect the RentsRents in accordance with the Texas Assignment of Rents Act. Grantor hereby agrees thatLender may (in its sole discretion), upon the occurrence of an Event of Default, deliver a Rent Demand to Borrower or deliver a Notice of Enforcement to all or any of the License granted Lessees. Bxxxxxxx agrees that pursuant to Grantor shall automatically terminateSection 64.002(a)(3) of the Texas Assignment of Rents Act, and thereafter Beneficiary any Rent Demand sent by Lxxxxx may direct be sent to Borrower pursuant to the lessees under notice provisions set forth in the Leases (“Lease Loan Agreement. As described in Section 64.060 of the Texas Assignment of Rents Act, Borrower shall, within ten days after its receipt of a Rent Notice”) Demand, deliver to pay directly to Beneficiary Lender such Rents as are described in the Rents due and to become due under the Leases and attorn in respect of all other obligations thereunder directly to Beneficiary, or Trustee on Beneficiary’s behalf, without any obligation on the part of Trustee or Beneficiary to determine whether an Event of Default does in fact exist or has in fact occurredRent Demand. All Rents collected by BeneficiaryLxxxxx, or Trustee acting on BeneficiaryLender’s behalf, shall be applied as provided for in this Deed of TrustSection 9.3; provided, however, that if the costs, expenses expenses, and attorneys’ fees shall exceed the amount of Rents collected, the excess shall be added to the LiabilitiesIndebtedness, shall bear interest at the rate borne by the Tranche A Loans Default Interest Rate, and shall be immediately due and payable. The entering entrance upon and taking possession of the Mortgaged Property, the collection of Rents Rents, and the application thereof as aforesaid set forth above shall not cure or waive any Event of Default or notice of default, if any, hereunder nor invalidate any act done action pursuant to such notice, except to the extent any such default is fully cured. Failure or discontinuance by BeneficiaryLxxxxx, or Trustee on BeneficiaryLxxxxx’s behalf, at any time or from time to time, to collect said Rents shall not in any manner impair the subsequent enforcement by BeneficiaryLxxxxx, or Trustee on BeneficiaryLxxxxx’s behalf, of the right, power power, and authority herein conferred upon it. Nothing contained herein, nor the exercise of any right, power power, or authority herein granted to BeneficiaryLender, or Trustee on BeneficiaryLender’s behalf, shall be, or shall be construed to be, an affirmation by it of any tenancy, lease, or option, nor an assumption of liability under, nor the subordination of, the lien or charge of this Deed of TrustLien Instrument, to any such tenancy, lease lease, or option, nor an election of judicial relief, if any such relief is requested or obtained as to Leases or Rents, with respect to the Mortgaged Property or any collateral given by Grantor Borrower to BeneficiaryLender. In addition, from time to time Beneficiary time, Lender may elect, and notice hereby is given to each lessee under any LeaseLessee of such right, to subordinate the lien of this Deed of Trust Lien Instrument to any Lease by unilaterally executing and recording an instrument of subordination, and upon such election election, the lien of this Deed of Trust Lien Instrument shall be subordinate to the Lease identified in such instrument of subordination; provided, however, in each instance instance, such subordination will not affect or be applicable to, to (and will expressly excludes any exclude any) lien, charge, encumbrance, security interest, claim, easement, restriction, option, covenant covenant, and other rights, titles, interests interests, or estates of any nature whatsoever with respect to regarding all or any part portion of the Mortgaged Property to the extent that the same may have arisen or intervened during the period between the recordation of this Deed of Trust Lien Instrument and the execution of the Lease identified in such instrument of subordination.

Rights Relating to Rents. Grantor Mortgagor has, pursuant to Section 2 of this Deed of TrustMortgage, assigned absolutely granted to Beneficiary Mortgagee a first lien security interest in and to any and all Rents under each of the LeasesLeases covering all or any portion of the Property. Beneficiary, or Trustee on Beneficiary’s behalf, Mortgagee may at any time, and without notice, either in person, by agent agent, or by receiver to be appointed by a court, enter and take possession of the Property or any part thereof, and in its own name, xxx sxx for or otherwise collect the Rents. Grantor hereby agrees that, upon the occurrence of an Event of Default, the License granted to Grantor shall automatically terminate, and thereafter Beneficiary may direct the lessees under the Leases (“Lease Rent Notice”) to pay directly to Beneficiary the Rents due and to become due under the Leases and attorn in respect of all other obligations thereunder directly to Beneficiary, or Trustee on Beneficiary’s behalf, without any obligation on the part of Trustee or Beneficiary to determine whether an Event of Default does in fact exist or has in fact occurred. All Rents collected by Beneficiary, or Trustee acting on Beneficiary’s behalf, Mortgagee shall be applied as provided for in Section 2.4 of this Deed of TrustMortgage; provided, however, that if the costs, expenses expenses, and attorneys’ ' fees shall exceed the amount of Rents collected, the excess shall be added to the LiabilitiesSecured Obligations, shall bear interest at the rate borne by the Tranche A Loans Default Rate, and shall be immediately due and payable. The entering upon and taking possession of the Property, the collection of Rents Rents, and the application thereof as aforesaid shall not cure or waive any Event of Default or notice of default, if any, hereunder nor invalidate any act done pursuant to such notice, except to the extent any such default is fully cured. Failure or discontinuance by Beneficiary, or Trustee on Beneficiary’s behalfMortgagee, at any time or from time to time, to collect said Rents shall not in any manner impair the subsequent enforcement by Beneficiary, or Trustee on Beneficiary’s behalf, Mortgagee of the right, power and authority herein conferred upon it. Nothing contained herein, nor the exercise of any right, power power, or authority herein granted to Beneficiary, or Trustee on Beneficiary’s behalf, Mortgagee shall be, or shall be construed to be, an affirmation by it of any tenancy, lease, or option, nor an assumption of liability under, nor the subordination of, the lien or charge of this Deed of TrustMortgage, to any such tenancy, lease lease, or option, nor an election of judicial relief, if any such relief is requested or obtained as to Leases or Rents, with respect to the Property or any collateral given by Grantor Mortgagor to Beneficiary. In addition, from time to time Beneficiary may elect, and notice hereby is given to each lessee under any Lease, to subordinate the lien of this Deed of Trust to any Lease by unilaterally executing and recording an instrument of subordination, and upon such election the lien of this Deed of Trust shall be subordinate to the Lease identified in such instrument of subordination; provided, however, in each instance such subordination will not affect or be applicable to, and expressly excludes any lien, charge, encumbrance, security interest, claim, easement, restriction, option, covenant and other rights, titles, interests or estates of any nature whatsoever with respect to all or any part of the Property to the extent that the same may have arisen or intervened during the period between the recordation of this Deed of Trust and the execution of the Lease identified in such instrument of subordinationMortgagee.

Rights Relating to Rents. Grantor Borrower has, pursuant to Article IX of this Deed of TrustMortgage, assigned absolutely and unconditionally to Beneficiary Lender all Rents under each of the LeasesLeases covering all or any portion of the Mortgaged Property and the rights to receive such Rents. Beneficiary, or Trustee on Beneficiary’s behalf, Lender may at any time, and without notice, either in person, by agent agent, or by receiver to be appointed by a court, enter and take possession of the Mortgaged Property or any part thereof, and in its own name, xxx for or otherwise collect the Rents. Grantor Borrower hereby agrees that, that Lender shall upon the occurrence of an Event of Default, automatically, and without further action of any kind or nature by Lender, terminate the License granted to Grantor shall automatically terminateBorrower in Section 9.2 hereof, and thereafter Beneficiary may direct the lessees under the Leases (“"Lease Rent Notice”") to pay directly direct to Beneficiary Lender the Rents due and to become due under the Leases and attorn in respect of all other obligations thereunder directly direct to Beneficiary, or Trustee on Beneficiary’s behalf, Lender without any obligation on the part of Trustee or Beneficiary Lender to determine whether an Event of Default does in fact exist or has in fact occurred. It shall never be necessary for Lender to institute legal proceedings to enforce any provision of Article IX of this Mortgage. All Rents collected by Beneficiary, or Trustee acting on Beneficiary’s behalf, Lender shall be applied as provided for in Article IX of this Deed of TrustMortgage; provided, however, that if the costs, expenses expenses, and attorneys’ ' fees incurred in connection therewith shall exceed the amount of Rents so collected, the excess shall be added to the LiabilitiesIndebtedness, shall bear interest at the rate borne by the Tranche A Loans Default Rate, and shall be immediately due and payable. The entering upon and taking possession of the Mortgaged Property, the collection of Rents Rents, and the application thereof as aforesaid shall not cure or waive any Event of Default or notice of defaultEvent of Default, if any, hereunder nor invalidate any act done pursuant to such notice, except to the extent any such default Event of Default is fully cured. Failure or discontinuance by Beneficiary, or Trustee on Beneficiary’s behalf, Lender at any time or from time to time, to collect said Rents shall not in any manner impair the subsequent enforcement by Beneficiary, or Trustee on Beneficiary’s behalf, Lender of the right, power and authority herein conferred upon it. Nothing contained herein, nor the exercise of any right, power power, or authority herein granted to Beneficiary, or Trustee on Beneficiary’s behalf, Lender shall be, or shall be construed to be, an affirmation by it of any tenancy, lease, or option, nor an assumption of liability under, nor the subordination of, the lien or charge of this Deed of TrustMortgage, to any such tenancy, lease lease, or option, nor an election of judicial relief, if any such relief is requested or obtained as to Leases or Rents, with respect to the Mortgaged Property or any collateral given by Grantor Borrower to BeneficiaryLender. In addition, Lender may from time to time Beneficiary may elect, and notice hereby is given to each lessee under any each Lease, to subordinate the lien of this Deed of Trust Mortgage to any Lease by unilaterally executing and recording an instrument of subordination, and upon such election the lien of this Deed of Trust Mortgage shall be subordinate to the Lease identified in such instrument of subordination; provided, however, in each instance such subordination will not affect or be applicable to, and expressly excludes any lien, charge, encumbrance, security interest, claim, easement, restriction, option, covenant and other rights, titles, interests or estates of any nature whatsoever with respect to all or any part portion of the Mortgaged Property to the extent that the same may have arisen or intervened during the period between the recordation of this Deed of Trust Mortgage and the execution of the Lease identified in such instrument of subordination.

Rights Relating to Rents. Grantor has, pursuant to Article ------------------------ ------- IX of this Deed of Trust, assigned absolutely to Beneficiary Beneficiary, in its -- capacity as Agent, all Rents under each of the LeasesLeases covering all or any portion of the Mortgaged Property. Beneficiary, or Trustee on Beneficiary’s 's behalf, may at any time, and without notice, either in person, by agent agent, or by receiver to be appointed by a court, enter and take possession of the Mortgaged Property or any part thereof, and in its own name, xxx for or otherwise collect the Rents. Grantor hereby agrees thatthat Beneficiary shall have the right (in its sole discretion), upon the occurrence of an Event of Default, to terminate the License limited license granted to Grantor shall automatically terminatein Section 9.2 ----------- hereof, and thereafter Beneficiary may direct the lessees under the Leases (“"Lease Rent ---------- Notice”") to pay directly direct to Beneficiary the Rents due and to become due under ------ the Leases and attorn in respect of all other obligations thereunder directly direct to Beneficiary, or Trustee on Beneficiary’s 's behalf, without any obligation on the part of Trustee or Beneficiary to determine whether an Event of Default does in fact exist or has in fact occurred. All Rents collected by Beneficiary, or Trustee acting on Beneficiary’s 's behalf, shall be applied as provided for in Article IX of this Deed of Trust; provided, however, that ---------- if the costs, expenses expenses, and attorneys’ ' fees shall exceed the amount of Rents collected, the excess shall be added to the LiabilitiesIndebtedness, shall bear interest at the rate borne by the Tranche A Loans Default Rate, and shall be immediately due and payable. The entering upon and taking possession of the Mortgaged Property, the collection of Rents Rents, and the application thereof as aforesaid shall not cure or waive any Event of Default or notice of default, if any, hereunder nor invalidate any act done pursuant to such notice, except to the extent any such default is fully cured. Failure or discontinuance by Beneficiary, or Trustee on Beneficiary’s 's behalf, at any time or from time to time, to collect said Rents shall not in any manner impair the subsequent enforcement by Beneficiary, or Trustee on Beneficiary’s 's behalf, of the right, power and authority herein conferred upon it. Nothing contained herein, nor the exercise of any right, power power, or authority herein granted to Beneficiary, or Trustee on Beneficiary’s 's behalf, shall be, or shall be construed to be, an affirmation by it of any tenancy, lease, or option, nor an assumption of liability under, nor the subordination of, the lien or charge of this Deed of Trust, to any such tenancy, lease lease, or option, nor an election of judicial relief, if any such relief is requested or obtained as to Leases or Rents, with respect to the Mortgaged Property or any collateral given by Grantor to Beneficiary. In addition, from time to time Beneficiary may elect, and notice hereby is given to each lessee under any Lease, to subordinate the lien of this Deed of Trust to any Lease by unilaterally executing and recording an instrument of subordination, and upon such election the lien of this Deed of Trust shall be subordinate to the Lease identified in such instrument of subordination; provided, however, in each instance such subordination will not affect or be applicable to, and expressly excludes any lien, charge, encumbrance, security interest, claim, easement, restriction, option, covenant and other rights, titles, interests or estates of any nature whatsoever with respect to all or any part portion of the Mortgaged Property to the extent that the same may have arisen or intervened during the period between the recordation of this Deed of Trust and the execution of the Lease identified in such instrument of subordination.

Rights Relating to Rents. Grantor Borrower has, pursuant to this Deed the Assignment of TrustRents, assigned absolutely to Beneficiary Lender all Rents under each of the LeasesLeases covering all or any portion of the Mortgaged Property. BeneficiaryLender, or Trustee on Beneficiary’s Lender's behalf, may at any time, and without notice, either in person, by agent agent, or by receiver to be appointed by a court, enter and take possession of the Mortgaged Property or any part thereof, and in its own name, xxx for or otherwise collect the Rents. Grantor Borrower hereby agrees thatthat Lender shall have the right (in its discretion), upon the occurrence of an Event of Default, to terminate the License limited license granted to Grantor shall automatically terminateBorrower in the Assignment of Rents, and thereafter Beneficiary may direct the lessees under the Leases (“"Lease Rent Notice”") to pay directly direct to Beneficiary Lender the Rents due and to become due under the Leases and attorn in respect of all other obligations thereunder directly direct to BeneficiaryLender, or Trustee on Beneficiary’s Lender's behalf, without any obligation on the part of Trustee or Beneficiary Lender to determine whether an Event of Default does in fact exist or has in fact occurred. All Rents collected by BeneficiaryLender, or Trustee acting on Beneficiary’s Lender's behalf, shall be applied as provided for in this Deed the Assignment of TrustRents; provided, however, that if the costs, expenses expenses, and attorneys’ ' fees shall exceed the amount of Rents collected, the excess shall be added to the LiabilitiesIndebtedness, shall bear interest at the rate borne by the Tranche A Loans Default Rate, and shall be immediately due and payable. The entering upon and taking possession of the Mortgaged Property, the collection of Rents Rents, and the application thereof as aforesaid shall not cure or waive any Event of Default or notice of defaultDefault, if any, hereunder nor invalidate any act done pursuant to such notice, except to the extent any such default Default is fully cured. Failure or discontinuance by BeneficiaryLender, or Trustee on Beneficiary’s Lender's behalf, at any time or from time to time, to collect said Rents shall not in any manner impair the subsequent enforcement by BeneficiaryLender, or Trustee on Beneficiary’s Lender's behalf, of the right, power and authority herein conferred upon it. Nothing contained herein, nor the exercise of any right, power power, or authority herein granted to BeneficiaryLender, or Trustee on Beneficiary’s Lender's behalf, shall be, or shall be construed to be, an affirmation by it of any tenancy, lease, lease or option, nor an assumption of liability under, nor the subordination of, the lien or charge change of this Deed of Trust, to any such tenancy, lease or option, option nor an election of judicial relief, if any such relief is requested or obtained as to Leases or Rents, with respect to the Mortgaged Property or any collateral given by Grantor Borrower to BeneficiaryLender. In addition, from time to time Beneficiary Lender may elect, and notice hereby is given to each lessee under any Lease, to subordinate the lien of this Deed of Trust to any Lease by unilaterally executing and recording an instrument of subordination, and upon such each election the lien of this Deed of Trust shall be subordinate to the Lease identified in such instrument of subordination; provided, however, in each instance such subordination will not affect or be applicable to, and expressly excludes any lien, charge, encumbrance, security interest, claim, easement, restriction, option, covenant convenant and other rights, titles, interests or estates of any nature whatsoever with respect to all or any part portion of the Mortgaged Property to the extent that the same may have arisen or intervened during the period between the recordation of this Deed of Trust and the execution of the Lease identified indentified in such instrument of subordination.