Assignment of Rents, Issues and Profits. The Mortgagor hereby assigns and transfers to the Mortgagee, FOR THE PURPOSE OF SECURING the Obligations, all Rents, and hereby gives to and confers upon the Mortgagee the right, power and authority to collect the same. The Mortgagor irrevocably appoints the Mortgagee its true and lawful attorney-in-fact, at its option at any time and from time to time following the occurrence and during the continuance of a Default, to demand, receive and enforce payment, to give receipts, releases and satisfactions, and to xxx, in the name of the Mortgagor or otherwise, for Rents and apply the same to the Obligations as provided in paragraph (a) of Section 4.03; provided, however, that the Mortgagor shall have the right to collect Rents at any time prior to the occurrence of a Default (but not more than one month in advance, except in the case of security deposits).
Assignment of Rents, Issues and Profits. Mortgagor, unconditionally and absolutely, assigns to Mortgagee the rents, issues, and profits of the Mortgaged Premises as further security for the payment of the Obligations, and grants to Mortgagee the right to enter upon the Mortgaged Premises for the purpose of collecting them, and to let all or any part of the Mortgaged Premises, and to apply the monies received, after payment of all necessary charges and expenses, to the Obligations, upon default under the Agreements or this Mortgage. Prior to written notice given by Mortgagee to Mortgagor of the occurrence of an event of default, Mortgagor shall have the privilege to collect and receive all rents and revenues of the Mortgaged Premises as trustee for the benefit of Mortgagee and Mortgagor, and so long as no such event of default has occurred and be continuing, shall be permitted to apply such rents and revenues to the account of the Mortgage or such other legitimate purposes. In the event of any such default, Mortgagor shall pay to Mortgagee, or to any receiver appointed to collect the rents, issues, and profits of the Mortgaged Premises, a fair and reasonable occupation rental for the use and occupation of the Mortgaged Premises by Mortgagor or of such part as may be in the possession of Mortgagor; and on default in payment of such rental, to vacate and surrender possession of the Mortgaged Premises, or that portion occupied by Mortgagor, to Mortgagee or to any receiver appointed.
Assignment of Rents, Issues and Profits. Trustor hereby absolutely and irrevocably assigns and transfers to Beneficiary 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 Property (collectively, the “Rents”), and hereby gives to and confers upon Beneficiary the right, power and authority to collect such Rents. Trustor irrevocably appoints Beneficiary its true and lawful attorney-in-fact, at the option of Beneficiary, at any time and from time to time, to demand, receive and enforce payment, to give receipts, releases and satisfactions, and to xxx, in its name or in the name of Trustor, for all Rents, and to apply the same to the obligations secured hereby; provided, however, that Trustor shall have a license to collect Rents (but not more than one month in advance unless the written approval of Beneficiary has first been obtained), and to retain and enjoy the same, so long as an Event of Default shall not have occurred hereunder and be continuing. The assignment of the Rents in this Article 4 is intended to be an absolute assignment from Trustor to Beneficiary and not merely the passing of a security interest.
Assignment of Rents, Issues and Profits. Trustor hereby absolutely and unconditionally assigns to Beneficiary all of Trustor’s right, title and interest in all current and future Leases and Rents, it being intended that this Deed of Trust constitute a present, absolute assignment and not an assignment for additional security only. This Article 3 presently gives Beneficiary the right to collect Rents and to apply Rents in partial payment of the Loan Obligations and otherwise in accordance with the Note. Trustor intends that the Rents and Leases be absolutely assigned and no longer be, during the term of this Deed of Trust, property of Trustor or Trustor’s estate, as defined by 11 U.S.C. §541. If any law exists requiring Beneficiary to take actual possession of the Mortgaged Property (or some action equivalent to taking possession of the Mortgaged Property, such as securing the appointment of a receiver) for Beneficiary to “perfect” or “activate” the rights and remedies of Beneficiary as provided herein, Trustor waives the benefit of such law. Such assignment to Beneficiary shall not be construed to bind Beneficiary to perform any covenants, conditions or provisions contained in any Lease or otherwise impose any obligation upon Beneficiary, and notwithstanding this Deed of Trust, Trustor shall remain liable for any obligations undertaken by Trustor pursuant to any Lease. Subject to the terms of this Article 3 and the Note, Beneficiary grants to Trustor a license, revocable as hereinafter provided, to operate and manage the Mortgaged Property and to collect and use the Rents. If an Event of Default occurs, the license granted to Trustor herein may, at Beneficiary’s election, be revoked by Beneficiary, and Beneficiary shall immediately be entitled to possession of all Rents then or thereafter payable (including Rents past due and unpaid) whether or not Beneficiary enters upon or takes control of the Mortgaged Property. Any Rents collected by Trustor from and after the date on which an Event of Default occurred and is continuing shall be held by Trustor in trust for Beneficiary. Trustor hereby grants and assigns to Beneficiary the right, at Beneficiary’s option, upon revocation of the license granted herein, to enter upon the Mortgaged Property in person, by agent or by court appointed receiver to collect Rents with or without taking the actual possession of the Mortgaged Property or any equivalent action. Beneficiary may apply any Rents collected after the license granted herein is revoked in Benefic...
Assignment of Rents, Issues and Profits. The Mortgagor hereby assigns and transfers to the Mortgagee, FOR THE PURPOSE OF SECURING the Obligations, all Rents, and hereby gives to and confers upon the Mortgagee the right, power and authority to collect the same and apply them in payment of the Obligations as provided herein. The Mortgagor irrevocably appoints the Mortgagee its true and lawful attorney-in-fact, at its option at any time and from time to time following the occurrence and during the continuance of a Default, to demand, receive and enforce payment, to give receipts, releases and satisfactions, and to sue, in the name of the Mortgagor or otherwise, for Rents and apply the same to the Obligations as provided in paragraph (a) of Section 5.03 hereof; provided, however, that the Mortgagor shall have the right to collect Rents at any time prior to the occurrence of a Default (but not more than one month in advance, except in the case of security deposits).
Assignment of Rents, Issues and Profits. The Mortgagor does hereby bargain, sell, transfer, assign, convey, set over and deliver unto the Mortgagee, as security for the payment and performance of all the terms and conditions of the Note and this Mortgage, and any and all amendments, extensions and renewals thereof, all Residential Leases now existing or which may be executed at any time in the future during the life of this Mortgage, and all amendments, extensions and renewals of said Residential Leases and any of them, and all rents and other income which may now or hereafter be or become due or owing under the Residential Leases, and any of them, on account of the use of the Home Assisted Units, it being intended xxxxxx to establish a complete transfer of the Residential Leases hereby assigned and all the rents and other income arising thereunder and on account of the use of the Mortgaged Property unto the Mortgagee, with the right, but without the obligation, to collect all of said rents and other income which may become due during the life of the Note and this Mortgage. The Mortgagor agrees to deposit with the Mortgagee upon demand such Residential Leases as may from time to time be designated by the Mortgagee. Although it is the intention of the parties that this shall be a present assignment, it is expressly understood and agreed, anything herein contained to the contrary notwithstanding, that the Mortgagee shall not exercise any of the rights or powers herein conferred upon it until a default shall occur under the terms and provisions of the Note and this Mortgage, but upon the occurrence of any default the Mortgagee shall be entitled, upon notice to the tenants, to all rents and other amounts then due under the leases and thereafter accruing, and this Mortgage shall constitute a direction to and full authority to the tenants to pay all said amounts to the Mortgagee without proof of the default relied upon. The tenants are hereby irrevocably authorized to rely upon and comply with any notice or demand by the Mortgagee for the payment to the Mortgagee of any rental or other sums which may be or thereafter become due under the leases, or for the performance of any of the tenants’ undertakings under the Residential Leases and shall have no right or duty to inquire as to whether any default under this Mortgage has actually occurred or is then existing.
Assignment of Rents, Issues and Profits. Mortgagor absolutely, unconditionally and irrevocably assigns and transfers to Mortgagee 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 Collateral (collectively the "Rents"), and gives to Mortgagee the right, power and authority to collect such Rents. Mortgagor irrevocably appoints Mortgagee its true and lawful attorney-in fact, at the option of Mortgagee, at any time and from time to time, to demand, receive and enforce payment, to give receipts, releases and satisfactions, and or xxx, in its name or in Mortgagor's name, for all Rents, and to apply them to the Secured Obligations. Mortgagee hereby grants to Mortgagor a license to collect and retain Rents (but not more than one month in advance unless the written approval of Mortgagee has first been obtained) so long as an Event of Default shall not have occurred and be continuing. The assignment of the Rents is intended to be an absolute assignment from Mortgagor to Mortgagee and not merely the passing of a security interest. This assignment of Rents is intended to be specific, perfected and xxxxxx upon recording.
Assignment of Rents, Issues and Profits. Grantor hereby absolutely and unconditionally assigns and transfers to Grantee, on behalf of and as Collateral Agent for the Lenders, all the Rents of the Collateral, and hereby gives to and confers upon Grantee, on behalf of and as Collateral Agent for the Lenders, the right, power and authority to collect such Rents. Grantor irrevocably appoints Grantee, on behalf of and as Collateral Agent for the Lenders, its true and lawful attorney-in-fact, at any time and from time to time, to demand, receive and enforce payment, to give receipts, releases and satisfactions, and to xxx, in the name of Grantor or Grantee, for all such Rents and apply the same to the Indebtedness secured hereby as more particularly described in Section 2.02 below; provided, however, that Grantee hereby grants to Grantor a license to collect such Rents (but not more than thirty (30) days in advance unless the written approval of Grantee has first been obtained), and to retain and enjoy same, and to demand, receive and enforce payment and to give receipts, so long as an Event of Default shall not have occurred hereunder and be continuing. Upon request of Grantee, Grantor shall execute and deliver to Grantee, on behalf of and as Collateral Agent for the Lenders, in recordable form, a specific assignment of any lease, sublease, license, concession or other agreement (collectively, the "LEASES") now or hereafter affecting the Collateral or any portion thereof to evidence further the assignment hereby made. The assignment of the rents, of the Collateral in this ARTICLE II is intended to be an absolute and present assignment from Grantor to Grantee and not merely the passing of a security interest.
Assignment of Rents, Issues and Profits. 6.1 Assignment of Rents 6.2 Performance of Leases
Assignment of Rents, Issues and Profits. 2.1 Assignment of Rents, Issues and Profits. Trustor further irrevocably grants, transfers and assigns to Beneficiary the Rents from the Premises, absolutely and unconditionally, and not merely as additional collateral security for the indebtedness secured by this Deed of Trust.
