Common use of Remedies of Lender Clause in Contracts

Remedies of Lender. (a) Upon the occurrence of an Event of Default, the License and Grantor’s relationship as Xxxxxx’s Agent to collect Rents shall automatically terminate without any further action by Xxxxxx and Xxxxxx may then give the Lease Rent Notice to Lessees. It shall never be necessary for Lender to institute legal proceedings of any kind whatsoever to enforce any provision of this Assignment. After the termination of the License, all Rents collected by Lender shall be applied as set forth in Section 3.3 of this Assignment. Neither the entering upon and taking possession of the Mortgaged Property or Xxxxxx’s collection of Rents and the application thereof under Section 3.3 shall cure or waive any Event of Default or notice of default, if any, nor invalidate any action under such notice. Failure or discontinuance by Xxxxxx, at any time or from time to time, to collect said Rents shall not in any manner impair the subsequent enforcement by Xxxxxx of the right, power, and authority herein granted to Xxxxxx. Nothing contained herein, nor the exercise of any right, power, or authority herein granted to Lender shall be or shall be construed to be, an affirmation by Lender of any tenancy, Lease, or option, nor an assumption of liability under, nor the subordination of, the Deed of Trust, to any such tenancy, Lease, or option, nor an election of judicial relief, if any such relief is requested or obtained as to the Rents, the Mortgaged Property, or any collateral given by Grantor to Lender.

Remedies of Lender. (a) Upon or at any time after the occurrence of an Event of Default, . Borrower hereby agrees that Lender shall have the right (in its sole discretion) to terminate the License and Grantor’s relationship as Xxxxxx’s Agent to collect Rents shall automatically terminate without any further action by Xxxxxx and Xxxxxx may then give the Lessees under the Leases the Lease Rent Notice to LesseesNotice. It shall never be necessary for Lender to institute legal proceedings of any kind whatsoever to enforce any provision of this Assignment. After the termination of the License, all All Rents collected by Lender shall be applied as set forth provided for in Section 3.3 Article VIII of this Assignmentthe Deed of Trust; provided, however, that if the reasonable costs, expenses, and attorneys' fees shall exceed the amount of Rents collected, the excess shall be added to the Indebtedness, shall bear interest at the Default Rate, and shall be immediately due and payable. Neither the The entering upon and taking possession of the Mortgaged Property or Xxxxxx’s Property, the collection of Rents Rents, and the application thereof under Section 3.3 as aforesaid shall not cure or waive any Event of Default or notice of default, if any, hereunder nor invalidate any action under act done pursuant to such notice. Failure or discontinuance by XxxxxxLender, or Trustee on Lender's behalf, at any time or from time to time, to collect said Rents shall not in any manner impair the subsequent enforcement by Xxxxxx Lender, or Trustee on Lender's behalf, of the right, power, power and authority herein granted to Xxxxxxconferred upon Lender. Nothing contained herein, nor the exercise of any right, power, or authority herein granted to Lender Lender, or Trustee on Lender's behalf, shall be be, or shall be construed to be, an affirmation by Lender it of any tenancy, Leaselease, or option, nor an assumption of liability under, nor the subordination of, the lien or charge of the Deed of Trust, to any such tenancy, Leaselease, or option, nor an election of judicial relief, if any such relief is requested or obtained as to the Leases or Rents, with respect to the Mortgaged Property, Property or any collateral given by Grantor Borrower to Lender.

Remedies of Lender. (a) Upon the occurrence of an Event of Default, the License and GrantorXxxxxxxx’s relationship as Xxxxxx’s Agent to collect Rents shall automatically terminate without any further action by Xxxxxx and Xxxxxx Lender may then give the Lease Rent Notice to Lessees. It shall never be necessary for Lender to institute legal proceedings of any kind whatsoever to enforce any provision of this Assignment. After the termination of the License, all Rents collected by Lender shall be applied as set forth in Section 3.3 of this Assignment. Neither the entering upon and taking possession of the Mortgaged Property or Xxxxxx’s collection of Rents and the application thereof under Section 3.3 shall cure or waive any Event of Default or notice of default, if any, nor invalidate any action under such notice. Failure or discontinuance by Xxxxxx, at any time or from time to time, to collect said Rents shall not in any manner impair the subsequent enforcement by Xxxxxx of the right, power, and authority herein granted to Xxxxxx. Nothing contained herein, nor the exercise of any right, power, or authority herein granted to Lender shall be or shall be construed to be, an affirmation by Lender of any tenancy, Lease, or option, nor an assumption of liability under, nor the subordination of, the Deed of Trust, to any such tenancy, Lease, or option, nor an election of judicial relief, if any such relief is requested or obtained as to the Rents, the Mortgaged Property, or any collateral given by Grantor Borrower to Lender.

Remedies of Lender. (a) Upon the occurrence and during the continuance of an Event of Default, Borrower hereby agrees that the License and Grantor’s Borrower's relationship as Xxxxxx’s Lender's Agent to collect Rents shall automatically terminate automatically, and without any further action of any kind or nature by Xxxxxx Lender, terminate, and Xxxxxx that Lender may then give the Lease Rent Notice to LesseesLessees under the Leases. It shall never be necessary for Lender to institute legal proceedings of any kind whatsoever to enforce any provision of this Assignment. After the termination of the License, all Rents collected by Lender shall be applied as set forth provided for in Section 3.3 4.3 of this Assignment. Neither the entering Entering upon and taking possession of the Mortgaged Property or Xxxxxx’s Property, collection of Rents and the application thereof under Section 3.3 as aforesaid shall not cure or waive any Event of Default or notice of default, if any, hereunder nor invalidate any action under act done pursuant to such notice. Failure or discontinuance by XxxxxxLender, at any time or from time to time, to collect said Rents shall not in any manner impair the subsequent enforcement by Xxxxxx Lender, of the right, power, power and authority herein granted to Xxxxxxconferred upon Lender. Nothing contained herein, nor the exercise of any right, power, power or authority herein granted to Lender shall be or shall be construed to be, an affirmation by Lender it of any tenancy, Lease, lease or option, nor an assumption of liability under, nor the subordination of, the Deed lien or charge of Trustthe Mortgage, to any such tenancy, Leaselease, or option, nor an election of judicial relief, if any such relief is requested or obtained as to the Rents, with respect to the Mortgaged Property, Property or any collateral given by Grantor Borrower to Lender.