Common use of Effect of Assignments Clause in Contracts

Effect of Assignments. This instrument constitutes an absolute --------------------- and present assignment of the rents, royalties, issues, profits, revenue, income and other benefits from the Mortgaged Property; subject, however, to the license given to Trustor to collect, receive, take, use and enjoy the same as provided above; provided, further, that the existence or exercise of such right of Trustor shall not operate to subordinate this assignment to any subsequent assignment by Trustor, in whole or in part, and any such subsequent assignment by Trustor shall be subject to the rights of Trustee and Beneficiary hereunder.