Common use of Collateral Assignment of Lease Clause in Contracts

Collateral Assignment of Lease. With respect to any assignment by Landlord of either (i) the Landlord's interest in this Lease, or (ii) the Annual Fixed Rent, Additional Rent and other payments payable to Landlord hereunder, whether conditional in nature or otherwise, ▇▇▇▇▇▇ agrees: (a) that the execution thereof by ▇▇▇▇▇▇▇▇ and the acceptance thereof by the assignee shall not be deemed an assumption by such assignee of any of the obligations of Landlord hereunder, unless such assignee shall, by notice sent to Tenant, expressly otherwise elect; and (b) that, except as aforesaid, such assignee shall be treated as having assumed Landlord's obligations hereunder only upon foreclosure of such assignee's mortgage or the taking of possession of the Building.

Collateral Assignment of Lease. With respect to any assignment by Landlord the Lessor of either (i) the LandlordLessor's interest in this Lease, lease or (ii) the Annual Fixed Rent, Additional Rent rental and other payments payable to Landlord hereunder, whether conditional in nature or otherwise, ▇▇▇▇▇▇ which assignment is made to the holder of a first mortgage on the Lessor's estate, the Lessee agrees: (a) that the execution thereof by ▇▇▇▇▇▇▇▇ the Lessor and the acceptance thereof by the assignee holder of such mortgage shall not never be deemed an assumption by such assignee holder of any of the obligations of Landlord the Lessor hereunder, unless such assignee holder shall, by written notice sent to Tenantthe Lessee, expressly otherwise elect; and (b) that, except as aforesaid, such assignee holder shall be treated as having assumed Landlordthe Lessor's obligations hereunder only upon foreclosure of such assigneeholder's mortgage or and the taking of possession of the BuildingPremises.

Collateral Assignment of Lease. With respect reference to any assignment by Landlord of either (i) the Landlord's interest in this Lease, or (ii) the Annual Fixed Rent, Additional Rent and other payments rentals payable to Landlord hereunder, whether conditional in nature or otherwise, ▇▇▇▇▇▇ which assignment is made to the holder of a first mortgage on the Landlord's estate, Tenant agrees: (a) that the execution thereof by ▇▇▇▇▇▇▇▇ Landlord and the acceptance thereof by the assignee holder of such mortgage, shall not be deemed an assumption by such assignee holder of any of the obligations of the Landlord hereunder, unless such assignee holder shall, by written notice sent to Tenant, expressly specifically otherwise elect; and (b) that, except as aforesaid, such assignee holder shall be treated as having assumed Landlord's obligations hereunder only upon foreclosure of such assigneeholder's mortgage or and the taking of possession of the BuildingPremises.

Collateral Assignment of Lease. With respect to any assignment by Landlord the Lessor of either (i) the LandlordLessor's interest in this Lease, lease or (ii) the Annual Fixed Rent, Additional Rent rental and other payments payable to Landlord hereunder, whether conditional in nature or otherwise, ▇▇▇▇▇▇ which assignment is made to the holder of a first mortgage on the Lessor's estate, the Lessee agrees:. (a) that the execution thereof by ▇▇▇▇▇▇▇▇ the Lessor and the acceptance thereof by the assignee holder of such mortgage shall not never be deemed an assumption by such assignee holder of any of the obligations of Landlord the Lessor hereunder, unless such assignee holder shall, by written notice sent to Tenantthe Lessee, expressly otherwise elect; and (b) that, except as aforesaid, such assignee holder shall be treated as having assumed Landlordthe Lessor's obligations hereunder only upon foreclosure of such assigneeholder's mortgage or and the taking of possession of the BuildingPremises.