Assignment of Leases. The Assignment of Leases creates a valid assignment of, or a valid security interest in, certain rights under the Leases, subject only to a license granted to Borrower to exercise certain rights and to perform certain obligations of the lessor under the Leases, including the right to operate the Property. No Person other than Lender has any interest in or assignment of the Leases or any portion of the Rents due and payable or to become due and payable thereunder.
Assignment of Leases. Upon Xxxxxx’s request after default, Borrower shall assign to Lender all leases of the Property and all security deposits made in connection with leases of the Property. Upon the assignment, Xxxxxx shall have the right to modify, extend or terminate the existing leases and to execute new leases, in Xxxxxx’s sole discretion. As used in this paragraph , the word “lease” shall mean “sublease” if the Security Instrument is on a leasehold.
Assignment of Leases. Subject only to Permitted Encumbrances, the related Assignment of Leases set forth in or separate from the related Mortgage and delivered in connection with such Mortgage Loan establishes and creates a valid and, subject only to the exceptions and limitations in paragraph (v) above, enforceable first priority lien and first priority security interest in the related Mortgagor's right to receive payments due under any and all leases, subleases, licenses or other agreements pursuant to which any Person is entitled to occupy, use or possess all or any portion of the related Mortgaged Property subject to the related Mortgage, except that a license may have been granted to the related Mortgagor to exercise certain rights and perform certain obligations of the lessor under the relevant lease or leases; and each assignor thereunder has the full right to assign the same.
Assignment of Leases. The Assignment of Leases executed by Buyer.
Assignment of Leases. As further security for the payment of the sums secured hereby, Mortgagor hereby transfers, assigns and sets over to Mortgagee all leases heretofore and hereafter entered into by Mortgagor relating to portions or all of the Mortgaged Property, together with all modifications, supplements, extensions and renewals thereof now existing or hereafter made, and also together with the rights to sue xxx, collect and receive all rents, additional rents, and other sums or payments due in all of said leases provided to be paid to Mortgagor thereunder, and also together with the rights of Mortgagor to receive, hold and apply all bonds, deposits, and security in all of said leases provided to be furnished to the Mortgagor thereunder, and also together with the rights of Mortgagor to enforce any and all of the agreements, terms, covenants and conditions provided in all of said leases and to give notices thereunder; provided, however, that as long as Mortgagor shall not have defaulted in the performance of any obligation, covenant or agreement under any collateral instrument further securing payment of the Indebtedness and, in addition, no event shall have occurred which would give Mortgagee the right to declare the Indebtedness due and payable, then Mortgagor shall have the license to collect, but not more than one month in advance, all rents, additional and percentage rents and other sums payable under said leases. Mortgagor shall not otherwise assign or pledge any lease of the Mortgaged Property, or any part thereof, or the rights to sue xxx, collect and receive any rents or other sums payable thereunder and shall enforce all of the agreements, terms, covenants or conditions to be performed by lessees thereunder, and shall perform every obligation of Mortgagor thereunder. Nothing contained in this Mortgage, and/or no exercise by the Mortgagee of its rights hereunder, shall be construed to obligate Mortgagee to perform any of the covenants of Mortgagor under any of the leases hereinabove assigned or shall be deemed to constitute Mortgagee a mortgagee in possession in the absence of any actual entry into and taking possession of the Mortgaged Property by Mortgagee. Mortgagor shall perform, observe, and comply with all of the terms, covenants, and conditions of the Assignment of Leases and Rentals of even date herewith to be recorded in the Farmington Land Records and of any other of the Loan Documents as if such terms, covenants, and conditions were set forth herein. Mo...
Assignment of Leases. There exists as part of the related Mortgage File an Assignment of Leases (an "Assignment of Leases") either as a separate document or as part of the Mortgage. Each related Assignment of Leases creates a valid, first priority collateral assignment of, or a valid perfected first priority lien on or security interest in, certain rights under the related lease or leases, including the right to receive all payment due under the related Lease, subject only to a license granted to the related Mortgagor to exercise certain rights and to perform certain obligations of the lessor under such lease or leases, including the right to operate the related leased property and none of the related leases contains any restriction on such collateral assignment or creation of a security interest therein, as applicable. The related assignment of any Assignment of Leases not included in a Mortgage, executed and delivered in favor of the Trustee is in recordable form (but for insertion of the name and address of the assignee and any related recording information which is not yet available to the Mortgage Loan Seller) to validly and effectively convey the assignor's interest therein and constitutes a legal, valid, binding and, subject to the exceptions set forth in Paragraph 13 below, enforceable assignment of such Assignment of Leases from the relevant assignor to the Trustee.
Assignment of Leases. (a) Tenant acknowledges that Landlord’s right, title, and interest as Landlord under the Lease is assigned to Mortgagee pursuant to the provisions of the Assignment and that pursuant to the provisions of the Assignment, rent under the Lease continues to be paid to Landlord in accordance with the provisions of the Lease unless and until Tenant is otherwise notified in writing by Mortgagee. From and after Tenant's receipt of written notice from Mortgagee (a Rent Payment Notice), Tenant must pay all rent to Mortgagee, or as Mortgagee directs in writing, until such time as Mortgagee directs otherwise in writing. Tenant must comply with any Rent Payment Notice notwithstanding any contrary instruction, direction, or assertion from Landlord. Neither Mortgagee's delivery to Tenant of a Rent Payment Notice nor Tenant's compliance with a Rent Payment Notice is to be deemed to (i) cause Mortgagee to succeed to or to assume any obligations and responsibilities as Landlord under the Lease, all of which continue to be performed and discharged solely by Landlord, unless and until any attornment occurs pursuant to this Agreement; or (ii) relieve Landlord of any obligations under the Lease. Landlord irrevocably directs Tenant to comply with any Rent Payment Notice, notwithstanding any contrary direction, instruction, or assertion by Landlord. Tenant is entitled to rely on any Rent Payment Notice.
Assignment of Leases. A counterpart of the Assignment of Leases and Contracts, in the form attached hereto as Exhibit E.
Assignment of Leases. There exists as part of the related Purchased Asset File an Assignment of Leases (either as a separate instrument or incorporated into the related Mortgage). Subject to the Permitted Encumbrances, each related Assignment of Leases creates a valid first-priority collateral assignment of, or a valid first-priority lien or security interest in, rents and certain rights under the related lease or leases, subject only to a license granted to the related Mortgagor to exercise certain rights and to perform certain obligations of the lessor under such lease or leases, including the right to operate the related leased property, except as the enforcement thereof may be limited by the Standard Qualifications. No Person other than the related Mortgagor owns any interest in any payments due under such lease or leases that is superior to or of equal priority with the lender’s interest therein. The related Mortgage or related Assignment of Leases, subject to applicable law, provides that, upon an event of default under the Purchased Asset, a receiver is permitted to be appointed for the collection of rents or for the related mortgagee to enter into possession to collect the rents or for rents to be paid directly to the mortgagee.
Assignment of Leases. Two (2) originals of an assignment of the Leases and all guaranties thereof, duly executed and acknowledged by Seller in the form of Exhibit F attached hereto (the “Assignment of Leases”).
