Absolute Assignment of Rents. As part of the consideration for the Indebtedness evidenced by the Note, and for other valuable consideration, the receipt and sufficiency of which Borrower acknowledges, Borrower hereby absolutely and unconditionally assigns and transfers to Lender all rents, insurance, income, receipts, and profits from the Property, and all security deposits and other security therefor (the "Rents"), including those now due, or to become due by virtue of any Lease or other agreement for the occupancy or use of all or any part of the Property, regardless of to whom the Rents are payable. Borrower authorizes Lender or Lender's agents to collect the rents and directs each tenant on the Property to pay such Rents to Lender or Lender's agents; provided, however, that prior to the occurrence of an Event of Default (as defined below), Borrower shall collect and receive all Rents as trustee for the benefit of Lender and Borrower, to apply the Rents so collected to the sums secured by this Instrument in the order provided in this Instrument with the balance, so long as no such Event of Default has occurred, to the account of Borrower. Borrower and Lender intend that this Assignment of Rents constitutes an absolute and present assignment and not an assignment for additional security only. Borrower and Lender intend that Lender shall have absolute right, power, and authority to collect the Rents.
Absolute Assignment of Rents. Notwithstanding any provisions to the contrary contained in this Deed of Trust, Trustor hereby absolutely assigns to Beneficiary, during the continuance of these trusts, all of Trustor's rights and interests in all rents, issues and profits of the Property, and of any personal property located thereon, with or without taking possession of the Property or said personal property. Trustor hereby authorizes Beneficiary to collect the rents, issues and profits of the Property and to direct each tenant of the Property to pay all of the same for which such tenant is liable directly to Beneficiary; provided that so long as there is no default in any of the terms or conditions of this Deed of Trust or any of the Secured Obligations, Trustor shall have the privilege of continuing to manage the Property as owner and collecting and retaining the rents, issues and profits arising therefrom but only as they accrue and become payable, rendering such accounts thereof as may be required by Beneficiary. If there occurs a default in any of the terms or conditions of this Deed of Trust or of the Secured Obligations, Trustor's privilege of collecting the rents, issues and profits of the Property shall automatically cease, and Beneficiary may at its option, either directly or by a receiver appointed by a court, take any one or more the actions set forth in Paragraphs 12 and 13 below, and the other provisions hereof, without further notice or demand upon Trustor or any other person liable for the obligations secured hereby or having an interest in the Property, without regard to the adequacy of the security for the obligations secured hereby, with or without bringing any action or proceeding, with or without having recorded any notice of default and election to sell, and without limiting Beneficiary's other rights and remedies. After deducting from the rents, issues and profits collected by Beneficiary, all costs of maintenance and operation of the Property, and all attorneys' fees incurred by Beneficiary, and all other costs, fees and expenses incurred in connection therewith, Beneficiary may apply the balance of the amounts collected to all or any part of the Secured Obligations in such order and manner as Beneficiary may determine. Beneficiary's acceptance of rents, issues and profits hereunder shall not constitute a waiver of any other right which Trustee or Beneficiary may have under this Deed of Trust or applicable law. Beneficiary's receipt and application of such rents, ...
Absolute Assignment of Rents. With or without instituting proceedings to foreclose on, or appoint a receiver for, the Mortgaged Property, revoke Mortgagor's license to collect rents and exercise all of Mortgagee's remedies under the Assignment of Rents and Leases from Mortgagor to Mortgagee of even date, including, without limitation, the right to notify tenants of the Mortgaged Property to pay rents directly to Mortgagee, take possession of and rent the Mortgaged Property, either in Mortgagee's name or in the name of the owner of such Mortgaged Property, receive and apply the rents and profits, after the payment of any collection, operating and management expenses, including management commissions and reasonable attorney's fees and disbursements, against the Note and other Obligations, being accountable only for the rents and profits that are actually received by it while in possession; or
Absolute Assignment of Rents. The Mortgagor hereby absolutely assigns and sets over to the Mortgagee all of the rents, income and profits arising out of or from the Mortgaged Premises for the purpose of making the payment of the Obligations secured by this Mortgage and, so long as there shall exist no Event of Default, there is reserved to the Mortgagor a license to collect as they become due, but not prior to accrual, all rents, income and profits from the Mortgaged Premises and the proceeds of rent insurance and to retain, use and enjoy the same and to apply such rents, issues, income and profits, all as more specifically provided for and required under this Mortgage to the payment of (i) the cost of all such alterations, renovations, repairs, replacements and maintenance and expenses incident to taking and retaining possession of the Mortgaged Premises and the management and operation thereof and keeping the same insured, (ii) all Property Taxes and Charges and any and all other liens on the Mortgaged Premises and premiums for said insurance, with interest on all such items, and (iii) the repayment of Obligations herein described then due and payable, together with all costs and reasonable attorneys’ fees, before using any part of the same for any other purpose. Upon the occurrence of an Event of Default, such license granted to the Mortgagor shall be immediately revoked without further demand or notice from the Mortgagee, and the Mortgagee is hereby empowered to enter upon and take possession of the Mortgaged Premises for the purpose of collecting the same and to let the Mortgaged Premises or any part thereof, and to apply the rents, issues and profits, after payment of all necessary charges and expenses, on account of said Obligations. This assignment and grant shall continue in effect until this Mortgage is paid in full and discharged of record. The Mortgagor shall not, without the prior express written consent of the Mortgagee, receive or collect rent from any tenant of the Mortgaged Premises or any part thereof for a period of more than one (1) month in advance and upon the occurrence of an Event of Default, the Mortgagor shall pay monthly in advance to the Mortgagee or to any receiver appointed to collect said rents, issues and profits, the fair and reasonable rental value for the use and occupation of the Mortgaged Premises or of such part thereof as may be in the possession of the Mortgagor and, upon default in any such payment, the Mortgagor shall vacate and surrender the p...
Absolute Assignment of Rents. Sublandlord unconditionally assigns to Master Landlord all rents now due, or which may later become due, under the Sublease (collectively, “Rents”). Sublandlord acknowledges that the assignment is present, absolute, and unconditional. Accordingly, Master Landlord shall collect the Rents and apply them in payment of any sums payable by Sublandlord under the Master Lease, and Subtenant agrees to pay such Rents to Master Landlord directly. Master Landlord’s acceptance of any payment on account of Rent from Subtenant does not release Sublandlord from any liability under the terms, covenants, conditions, provisions, or agreement under the Master Lease. However, Sublandlord will have a license to collect the Rents until the occurrence of an act of default by Sublandlord under the Master Lease. If the act of default occurs, Sublandlord’s right to collect the Rent will be suspended until the default is cured. During the period in which Sublandlord’s right to collect the Rents is suspended, Master Landlord, as assignee and attorney-in-fact for Sublandbrd under the Master Lease, or a receiver for Sublandlord appointed pursuant to Master Landlord’s application, will have the right to collect the Rents and apply them toward Sublandlord’s obligations under the Master Lease. Master Landlord’s acceptance of any payment on account of Rent from Subtenant as a result of any act of default does not release Sublandlord from any liability under the terms, covenants, conditions, provisions, or agreement under the Master Lease.
Absolute Assignment of Rents. For valuable consideration, the receipt and sufficiency of which Mortgagor acknowledges, Mortgagor hereby grants, bargains, assigns, transfers, sets over, sells and conveys, the Leases and the Rents unto Mortgagee; TO HAVE AND TO HOLD the Leases and the Rents unto Mortgagee, forever, and Mortgagor does hereby bind itself and its heirs, executors, administrators, personal representatives, successors, and assigns to warrant and forever defend the title to the Leases and the Rents unto Mortgagee against every person whomsoever lawfully claiming or to claim the same or any part thereof. Mortgagor and Mortgagee intend this assignment of the Leases and the Rents to be absolute, unconditional and presently effective, and not an assignment for additional security only.
Absolute Assignment of Rents. In further consideration for the indebtedness evidenced by the Note, Mortgagor hereby absolutely and unconditionally assigns to Mortgagee all rents, revenues, profits and incomes from the Mortgaged Property or any portion thereof. Provided, however, so long as no default has occurred, Mortgagor is hereby granted a license to collect and retain the currently accruing rents, income and profits from the Mortgaged Property, but in no event for more than one (1) month in advance of such collection. If a default shall occur, however,
Absolute Assignment of Rents. In consideration of the making of the Junior Loan by Lender to Borrower and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Borrower absolutely and unconditionally assigns any and all Rents received in connection with the Project to Lender, subject to the terms of the Lock Box Agreement. This assignment is, and is intended to be, an unconditional, absolute and present assignment from Borrower to Lender of all of Borrower’s right, title and interest in and to the Rents and not an assignment in the nature of a pledge of the Rents or the mere grant of a security interest therein. For so long as this Mortgage shall be in effect or until Lender shall otherwise consent in writing, all such Rents shall be paid to the Cash Management Agent as set forth in the Lock Box Agreement. All such sums received by Borrower from and after the date hereof shall be deemed received in trust and shall be turned over immediately to Cash Management Agent.
Absolute Assignment of Rents. Holdings shall grant to Lender title to all Rents (as defined in the Assignment of Rents) under the Leases (as defined in the Assignment of Rents) pursuant to the Assignment of Rents (it being understood that Holdings shall only be permitted under a limited license to collect such Rents until the occurrence of an Event of Default).
Absolute Assignment of Rents. The Trustor hereby absolutely and irrevocably assigns to the Beneficiary, for the ratable benefit of the Secured Parties, all of its right, title and interest in and to all rents, issues, profits, royalties, income and other proceeds and similar benefits derived from the Trust Estate (collectively, the “Rents”). The Trustor hereby irrevocably appoints the Beneficiary, during the continuation of an Event of Default, its true and lawful attorney-in-fact, at the Beneficiary’s option at any time, to demand, receive and enforce payment, to give receipts, releases and satisfactions, and to xxx, either in the Trustor’s name or in the Beneficiary’s name, for all the Rents.
