Common use of Bankruptcy Provisions Clause in Contracts

Bankruptcy Provisions. Without limitation of the absolute nature of the assignment of the Rents hereunder, Trustor and Beneficiary agree that (a) this Deed of Trust shall constitute a “security agreement” for purposes of Section 552(b) of the Bankruptcy Code, (b) the security interest created by this Deed of Trust extends to property of Trustor that comprises the Trust Property and was acquired before the commencement of a case in bankruptcy and to all amounts paid as Rents and (c) such security interest shall extend to all Rents acquired by the estate after the commencement of any case in bankruptcy.

Appears in 4 contracts

Samples: Deed of Trust, Security Agreement (LEM America, Inc), Deed of Trust, Security Agreement (LEM America, Inc), Deed of Trust, Security Agreement (LEM America, Inc)

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