Common use of Termination of License Upon Event of Default Clause in Contracts

Termination of License Upon Event of Default. If an Event of -------------------------------------------- Default shall occur, the license granted under subsection (b) of this Section shall immediately and automatically terminate, without the necessity of any action by any Person, and Mortgagee and any Receiver appointed under this Mortgage shall have the right to exercise the rights and remedies provided under this Mortgage or otherwise under applicable law. If an Event of Default shall occur, upon demand by the Person exercising the rights under this Section, Mortgagor shall promptly pay to such Person all security deposits under the Leases and all Rents allocable to any period after the occurrence of such Event of Default. Subject to any applicable Legal Requirement, any Rents received hereunder by the Person exercising the rights under this Section shall be promptly paid to Mortgagee, and any Rents received hereunder by Mortgagee shall be applied and disbursed as provided in Section 6.9; provided that, subject to any applicable requirement of law, any security deposits actually received by Mortgagee shall be held, applied and disbursed as provided in the applicable Leases.

Termination of License Upon Event of Default. If an Event of -------------------------------------------- Default shall occur, the license granted under subsection (b) of this Section shall immediately and automatically terminate, without the necessity of any action by any Person, and Mortgagee and any Receiver appointed under this Mortgage shall have the right to exercise the rights and remedies provided under this Mortgage or otherwise under applicable law. If an Event of Default shall occur, upon demand by the Person exercising the rights under this Section, Mortgagor shall promptly pay to such Person all security deposits under the Leases and all Rents allocable to any period after the occurrence of such Event of Default. Subject to any applicable Legal Requirement, any Rents received hereunder by the Person exercising the rights under this Section shall be promptly paid to Mortgagee, and any Rents received hereunder by Mortgagee shall be applied and disbursed as provided in Section 6.9the Indenture, subject to the Intercreditor Agreement; provided PROVIDED that, subject to any applicable requirement of law, any security deposits actually received by Mortgagee shall be held, applied and disbursed as provided in the applicable Leases.

Termination of License Upon Event of Default. If an Event of -------------------------------------------- Default shall occur, the license granted under subsection (b) of this Section shall immediately and automatically terminate, without the necessity of any action by any Person, and Mortgagee and any Receiver appointed under this Mortgage shall have the right to exercise the rights and remedies provided under this Mortgage or otherwise under applicable law. If an Event of Default shall occur, upon demand by the Person exercising the rights under this Section, Mortgagor shall promptly pay to such Person all security deposits under the Leases Material Agreements and all Rents Other Payments allocable to any period after the occurrence of such Event of Default. Subject to any applicable Legal Requirement, any Rents Other Payments received hereunder by the Person exercising the rights under this Section shall be promptly paid to Mortgagee, and any Rents Other Payments received hereunder by Mortgagee shall be applied and disbursed as provided in Section 6.9; provided thatthe Indenture, subject to any applicable requirement of law, any security deposits actually received by Mortgagee shall be held, applied and disbursed as provided in the applicable LeasesIntercreditor Agreement.