Assignment for Enforcement. The Leases are assigned to the Servicer for the related Specified Interest solely for the purpose of permitting the Servicer to perform its servicing and administrative obligations under this Agreement and the related Servicing Agreement, including the start or pursuit of or participation in legal proceedings to enforce a Lease or otherwise related to a Lease. If in a legal proceeding it is held that the Servicer for the related Specified Interest may not enforce a Lease on the ground that it is not a real party in interest or a holder entitled to enforce the Lease, the Company will, at such Servicer’s expense and direction, assign the Lease to the Servicer solely for that purpose or take steps to enforce the Lease, including bringing suit in the name of the Company.
Appears in 2 contracts
Sources: Limited Liability Company Agreement (CAB East LLC), Limited Liability Company Agreement (CAB East LLC)