Receipt of Rents. Notwithstanding subsection 11.2, the Lender will allow the Borrower to receive the rents as long as the Borrower is not in Default. If the Lender withdraws this privilege, the Lender may collect such rents and revenues and will be entitled to a reasonable commission, which it may deduct from any amounts collected.
Receipt of Rents. Landlord's acceptance of full or partial payment of Rent following any Event of Default shall not constitute a waiver of such Event of Default.
Receipt of Rents. On or before the Borrowing Date with respect to a Lease Financing Loan, the Borrower shall instruct all Lessees in writing to send all payments due under the Business Leases to the Custodial Account by delivering to each Lessee, by certified mail, return receipt requested, a letter substantially in the form of EXHIBIT A attached hereto. The Borrower shall not collect any payments due under the Business Leases in any other manner. Cash receipts and other payments received on account of the Business Leases will be deposited in the Custodial Account by direct mail or a third-party messenger. If the Borrower receives any rent payments or any other payment in respect of a Business Lease, outside of the Custodial Account arrangement described herein, the Borrower shall immediately transmit such payments to the Custodial Account, properly endorsed to the Custodian.
Receipt of Rents. The Lessor Trust hereby acknowledges and agrees that the Administrative Agent will hold the Rents for the benefit of each of the Lenders and each of the Certificate Holders, and the Administrative Agent will distribute the Rents in accordance with Article VII of the Participation Agreement.
Receipt of Rents. The Lenders hereby acknowledge and agree that the Agent will hold the Rents for the benefit of each of the Lenders and the Lessor, and the Agent will distribute the Rents to the Lenders and the Lessor in accordance with Article VII of the Participation Agreement.
Receipt of Rents. The Assignor hereby irrevocably designates the Assignee (or its designee) to receive all payments of the Lease Rents, the Other Lease Rents and the Contract Rents and any other sums payable to the Assignor under the Assigned Lease, any Other Lease or any Contract. The Assignor agrees to direct (and hereby directs) the Lessee, any other lessee and any contracting parties to deliver to the Assignee (or its designee), at its address set forth herein or at such other address or to such other Person as the Assignee shall designate, all such payments and sums on account of the Rents, and no delivery thereof by the Lessee, such other lessee or such contracting party shall be of any force or effect unless made to the Assignee (or its designee), as herein provided. The Rents shall for all purposes be considered the property of the Assignee and not of the Assignor, whether before or after the occurrence of an Event of Default. ASSIGNMENT OF LEASES AND RENTS
Receipt of Rents. The Lenders hereby acknowledge and agree that the ---------------- Agent will collect and hold the Rents for the benefit of each of the Lenders and will distribute the Rents to the Lenders in accordance with and in the priority set forth in Article IV of the Loan Agreement. Without limiting the provisions ---------- of Article V of the Loan Agreement, the Agent (solely in the capacity as Agent --------- for the Financing Lenders) and the Financing Lenders further acknowledge and agree that they shall not individually or collectively be entitled to take any action with respect to Lease Rents or Contract Rent unless and until the Equity Balance shall have been paid in full to the Equity Lenders. To the extent not inconsistent with Article V of the Loan Agreement, the foregoing shall not --------- affect the right of the Required Financing Lenders to cause the Agent to exercise other rights and remedies available to the Financing Lenders under the Operative Documents, and upon the occurrence of a Lease Event of Default, the Required Financing Assigment of Lease and Rent Lenders shall have the right to cause the Agent to exercise the remedies pursuant to Section 18.3 of the Master Lease. Any attempt by the Agent or any ------------ Financing Lender to exercise remedies or take any other action in contravention of this section shall be null and void.
Receipt of Rents. The Lessor hereby acknowledges and agrees that the Indenture Trustee will hold the Rents for the benefit of each of the Participants, and the Indenture Trustee will distribute the Rents in accordance with Article VII of the Participation Agreement. SECTION 4.
Receipt of Rents. The Lenders hereby acknowledge and agree that the Assignor will hold the Rents for the benefit of each of the Participation Agent, the Agent, the Tranche A Lenders and the Tranche B Lenders in accordance with all requirements of the Loan Agreement, the Participation Agreement and the other Operative Documents.
Receipt of Rents. Neither this grant nor the receipt of Rents by Mortgagee (except to the extent, if any, that Mortgagee actually receives and applies such Rents to the indebtedness) shall effect a pro tanto payment of the Secured Obligations. Rents actually received by Mortgagee shall be applied by Mortgagee as provided in Section 2.4 below. Mortgagee shall not be deemed to have received Rents or to have applied Rents to the Secured Obligations until the money is actually received by Mortgagee at its principal office in Dallas, Texas, or at such other place as Mortgagee shall designate in writing. Mortgagee shall not apply Rents to the Secured Obligations after foreclosure or any other transfer of all or any part of the Property to Mortgagee or any other third party.
