Common use of Prior to Default Clause in Contracts

Prior to Default. So long as no Event of Default (as defined in the Loan Agreement) exists (hereinafter, collectively, a “Continuing Default”): Assignor shall have the right and license to manage and operate the Property and to collect at the time of, but not more than one (1) month prior to (except for security deposits and first or last month’s rent taken in the usual course of business -pursuant to the Leases), the date provided for the payment thereof, all rents, income and profits arising under the Leases or from the premises described therein and, subject to the provisions of the other Loan Documents, to retain, use and enjoy the same.

Prior to Default. So long as no Event of Default (as defined in the Loan Agreement) exists (hereinafter, collectively, a “"Continuing Default”"): Assignor shall have the right and license to manage and operate the Property and to collect at the time of, but not more than one (1) month prior to (except for security deposits and first or last month’s 's rent taken in the usual course of business -pursuant pursuant to the Leases), the date provided for the payment thereof, all rents, income and profits arising under the Leases or from the premises described therein and, subject to the provisions of the other Loan Documents, to retain, use and enjoy the same.

Prior to Default. So long as no Event of Default (as defined in the Loan Agreement) exists (hereinafter, collectively, a “Continuing Default”): Assignor shall have the right and license to manage and operate the Property and to collect at the time of, but not more than one (1) month prior to (except for security deposits and first or last month’s rent taken in the usual course of business -pursuant pursuant to the Leases), the date provided for the payment thereof, all rents, income and profits arising under the Leases or from the premises described therein and, subject to the provisions of the other Loan Documents, to retain, use and enjoy the same.