Common use of Upon Termination of Lease in Bankruptcy Clause in Contracts

Upon Termination of Lease in Bankruptcy. In the event any lessee under any of the Leases should be the subject of any proceeding under Section 548 of the Bankruptcy Code of 1978, as amended from time to time, or any other federal, state or local statute which provides for the possible termination or rejection of such Leases assigned hereby, Assignor covenants and agrees that, if any of such Leases are so terminated or rejected, no settlement for damages shall be made without the prior written consent of Agent, in each instance, and any check in payment of damages for termination or rejection of any such Lease will be made payable to both Assignor and Agent. Assignor hereby assigns its interest in any such payment to Agent and further covenants and agrees that upon the request of Agent after a Continuing Default, Assignor will duly endorse to the order of Agent any such check, the proceeds of which will be applied to the indebtedness secured by this Assignment. Assignor hereby irrevocably appoints Agent and its successors and assigns as its-attorney-in-fact to so endorse any such checks if Assignor does not do so.

Upon Termination of Lease in Bankruptcy. In the event any lessee under any of the Leases should be the subject of any proceeding under Section 548 of the Federal Bankruptcy Code of 1978Code, as amended from time to time, or any other federal, state or local statute which provides for the possible termination or rejection of such the Leases assigned hereby, Assignor covenants and agrees that, if any of such the Leases are is so terminated or rejected, no settlement for damages shall be made without the prior written consent of Agent, in each instance, and any check in payment of damages for termination or rejection of any such Lease will be made payable both to both Assignor and Agent. Assignor hereby assigns its interest in any such payment to Agent and further covenants and agrees that upon the request of Agent after a Continuing an Event of Default, Assignor will duly endorse to the order of Agent any such check, the proceeds of which will be applied to the indebtedness secured by this Assignment. Assignor hereby irrevocably appoints Agent and its successors and assigns as its-attorney-in-fact to so endorse any such checks if Assignor does not do soso after written notice from Agent.

Upon Termination of Lease in Bankruptcy. In the event any lessee under any of the Leases should be the subject of any proceeding under Section 548 of the Federal Bankruptcy Code of 1978Code, as amended from time to time, or any other federal, state or local statute which provides for the possible termination or rejection of such the Leases assigned hereby, Assignor Borrower covenants and agrees that, if any of such the Leases are is so terminated or rejected, no settlement for damages shall be made without the prior written consent of AgentLender, in each instance, and any check in payment of damages for termination or rejection of any such Lease will be made payable both to both Assignor Borrower and AgentLender. Assignor Borrower hereby assigns its interest in any such payment to Agent Lender and further covenants and agrees that upon the request of Agent after a Continuing DefaultLender, Assignor Borrower will duly endorse to the order of Agent Lender any such check, the proceeds of which will be applied to the indebtedness secured by this Assignment. Assignor Borrower hereby irrevocably appoints Agent Lender and its successors and assigns as its-its attorney-in-fact to so endorse any such checks if Assignor Borrower does not do so.