Trustor's Limited License Sample Clauses

Trustor's Limited License. Provided that no Default or Event of Default (as defined herein) has occurred and is continuing, Trustor shall have the right under a license granted hereby and Beneficiary hereby grants to Trustor a license to collect, but not more than one month in advance (except as regards security and similar deposits and payments of last months' rentals), all of the Rents arising from or out of the Leases or any renewals or extensions thereof, or from or out of the Property or any part thereof. After the occurrence and during the continuance of an Event of Default, Beneficiary shall have the right, but not the obligation, to use and apply any Rents received hereunder in accordance with this Deed of Trust and the Indenture, and Trustor irrevocably waives the right to direct the application of any and all payments at any time or times thereafter received by the Beneficiary from or on behalf of Trustor, and Trustor hereby irrevocably agrees that the Beneficiary shall have the continuing exclusive right to apply and to reapply any and all payments received at any time or times after the occurrence and during the continuance of an Event of Default against the Obligations in accordance with this Deed of Trust and the Indenture. If an Event of Default occurs and is continuing, and without the necessity of Beneficiary entering upon and taking and maintaining full control of the Property (by agent, court appointed receiver or otherwise), the license granted hereby shall be deemed revoked and the license shall immediately be revocable by Beneficiary upon which revocation Beneficiary will be entitled to immediate possession of all rents and revenues generated by the Property.
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Trustor's Limited License. Provided that no Event of Default hereunder exists, Trustor shall have the right under a license granted hereby and Beneficiary hereby grants to Trustor a license to collect, but not more than one month in advance, all of the Rents, Issues and Profits arising from or out of the Tenant Leases or any renewals or extensions thereof, or from or out of the Trust Property or any part thereof, but only as trustee for the benefit of Beneficiary. Trustor shall apply the Rents, Issues and Profits so collected first to payment of any and all amounts due and payable under the Indenture. Thereafter, so long as no Event of Default hereunder exists, Trustor may use the Rents, Issues and Profits in any manner not inconsistent with the Indenture. The license granted hereby shall be revoked automatically upon the occurrence of an Event of Default hereunder.
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Related to Trustor's Limited License

  • Limited License Subject to the terms and conditions of this PLLA and applicable Open Source Terms (as defined hereafter) and during the term of this PLLA, ST hereby grants You under intellectual property rights owned by ST and its Affiliates or under which ST and its Affiliates has the right to grant a license, a worldwide, non-exclusive, non-transferable, royalty-free license, without the right to sub-license (except as expressly stipulated herein or authorized in writing by an authorized representative of ST): (i) to use, reproduce and modify (to the extent delivered to You in source code) the Licensed Materials for the sole purpose of and to the extent necessary to create a software or hardware application (“Licensee Product”) embedding the Licensed Materials, provided always that the Licensed Materials execute solely and exclusively on, or in conjunction with an integrated circuit manufactured by or for ST or its Affiliates (“ST Product”); (ii) to distribute the Licensed Materials to third parties in the same code form only as delivered to You by ST and only as embedded in the Licensee Product (and not as a standalone product) provided always that the Licensed Materials execute solely and exclusively on, or in conjunction with ST Product and grant such third parties sublicenses of the rights granted to You in subsections 1 (i) and (ii). You will enter into an agreement with such third parties which limit use of the Licensed Materials to no more than is allowed for under this PLLA. Upon request, You shall provide ST with requested contact information of third parties to whom you distributed the Licensed Materials and confirm in writing that such agreements with such third parties are in place. (iii) to use the Documentation solely to support and exercise the rights granted under this article 1 and to copy, modify and/or create derivative works from the Documentation, but only for the purpose of creating technically accurate subsets and supersets thereof or by translating it into other languages or otherwise creating technically accurate localized versions thereof – and distributing such Documentation and modifications and/or derivative works only with Licensee Product. Subject to all limitations described herein, You are authorized to have third party contractors exercise for You and on your behalf the license rights as set forth above. You are fully responsible vis-à-vis ST for any act or omission of Your contractors and any breach by Your contractors shall be deemed a breach by You hereunder. You acknowledge that the Licensed Materials have not been specifically designed to meet your individual requirements and that You have all information necessary to evaluate whether the Licensed Materials meet your requirements or not, and will be suitable for your intended use or application. Therefore the Licensed Materials shall be deemed accepted upon delivery to SLA0080 - Rev 1 - February 2018 For further information contact your local STMicroelectronics sales office. xxx.xx.xxx

  • Limited Liability Except as provided by the Act, the debts, obligations and liabilities of the Company, whether arising in contract, tort or otherwise, shall be solely the debts, obligations and liabilities of the Company, and the Member shall not be obligated personally for any such debt, obligation or liability of the Company solely by reason of being a member of the Company.

  • Limited Liability of Limited Partners (1) Each Unit of Limited Partnership Interest, when purchased by a Limited Partner, subject to the qualifications set forth below, shall be fully paid and non-assessable. (2) A Limited Partner shall have no liability in excess of his obligation to make contributions to the capital of the Partnership and his share of the Partnership’s assets and undistributed profits, subject to the qualifications provided in the Partnership Act.

  • Limited Liability Company The Member intends to form a limited liability company and does not intend to form a partnership under the laws of the State of Delaware or any other laws.

  • The Limited Liability Company The Members have created a limited liability company: The operations of the Company shall be governed by the laws located in the State of Governing Law and in accordance with this Agreement as follows:

  • Formation of Limited Liability Company The Company was formed on January 13, 2017, pursuant to the Delaware Limited Liability Company Act, 6 Del. C. § 18-101, et seq., as amended from time to time (the “Delaware Act”), by the filing of a Certificate of Formation of the Company with the office of the Secretary of the State of Delaware. The rights and obligations of the Member and the administration of the Company shall be governed by this Agreement and the Delaware Act. To the extent this Agreement is inconsistent in any respect with the Delaware Act, this Agreement shall control.

  • Unlimited Liability Neither party will exclude or limit its liability for damages resulting from: a) unauthorized use or disclosure of Confidential Information, b) either party’s breach of its data protection and security obligations that result in an unauthorized use or disclosure of personal data,

  • Certificate of Limited Liability Company Interest A Member’s limited liability company interest may be evidenced by a certificate of limited liability company interest executed by the Manager or an officer in such form as the Manager may approve; provided that such certificate of limited liability company interest shall not bear a legend that causes such limited liability company interest to constitute a security under Article 8 (including Section 8-103) of the Uniform Commercial Code as enacted and in effect in the State of Delaware, or the corresponding statute of any other applicable jurisdiction.

  • Limited Liability Company Agreement The Member hereby states that except as otherwise provided by the Act or the Certificate of Formation, the Company shall be operated subject to the terms and conditions of this Agreement.

  • Limited Liability of Members No Member shall be liable for any debts or obligations of the Company beyond the amount of the Capital Contributions made by such Member.

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