Collateral Assignment of Lease. FOR VALUE RECEIVED, the undersigned, XX Xxxxxxxx Cinema, LLC, a Delaware limited liability company, as Borrower, does hereby transfer, sell, assign, set over and convey unto Northlight Trust I, a Delaware statutory trust, as Lender, all of its right, title and interest in and to that certain Lease Agreement more particularly described on the attached Exhibit A, as collateral security for Borrower’s obligations to Lender under that certain Loan Agreement between Borrower and certain of its affiliates, and Borrower’s parent, Digital Cinema Destinations Corp., a Delaware corporation, of even date herewith (the “Loan”). TOGETHER WITH all rights, title and interest in and to said Lease Agreement, as “tenant/lessee” therein, as additional collateral security for the Loan. DATED this 27th day of September, 2012. XX Xxxxxxxx Cinema, LLC, a Delaware limited liability company By: /s/ A. Xxxx Xxxx Name: A. Xxxx Xxxx Title: Manager STATE OF NEW JERSEY ) ) ss. COUNTY OF UNION ) This instrument was acknowledged before me on September 27, 2012, by A. Xxxx Xxxx, the Manager of XX Xxxxxxxx Cinema, LLC, a Delaware limited liability company. /s/ Xxxx X. Xxxxxxxx Notary Public [SEAL] Prepared by and after recording return to: Xxxxxx X. Xxxxxx, Esq. Xxxxxxxxx Xxxxxx PLLC 00 X. 0xx Xxxxxx Xxxxxxxx, Xxxx 00000 Exhibit A
Collateral Assignment of Lease. THIS COLLATERAL ASSIGNMENT OF LEASE (“Assignment”) is made as of the date of the last signature below, among (1) K.P. SPORTS, INC., a Maryland corporation (“Assignor”), having an address c/o Under Armour Performance Apparel, 0000 Xxxx Xxxxxx, Baltimore, Maryland 21230, (2) PRUDENT CAPITAL I, LP, a Maryland limited partnership (the “Assignee”) having an address at , and (3) HULL POINT, LLC (“Landlord”) having an address at Tide Point, 0000 Xxxx Xxxxxx, Xxxxxxxxx, Xxxxxxxx 00000.
Collateral Assignment of Lease. Tenant acknowledges that Landlord may assign this Lease and the Rent hereunder to Mortgagee as additional collateral for the loan EAST\174041517.9 secured by the Superior Mortgage. Tenant agrees that if Mortgagee, pursuant to the assignment, and whether or not it becomes a mortgagee in possession, shall give written notice to Tenant that Mortgagee has elected to require Tenant to pay to Mortgagee the Rent and other charges payable by Tenant under this Lease, Tenant shall, until Mortgagee shall have canceled such election, thereafter pay to Mortgagee all Rent and other sums payable under this Lease and such payments to Mortgagee shall be treated as payments made under this Lease. Tenant hereby covenants and agrees that Tenant shall not subordinate this Lease to any lien or encumbrance (other than the Superior Mortgage) without Mortgagee’s prior written consent.
Collateral Assignment of Lease. With respect to any assignment by the Lessor of the Lessor's interest in this lease or the rental and other payments payable hereunder, conditional in nature or otherwise, which assignment is made to the holder of a first mortgage on the Lessor's estate, the Lessee agrees:
Collateral Assignment of Lease. Tenant and Franchisor have executed and delivered or will execute and deliver an assignment (the "Collateral Assignment of Lease") which grants Franchisor the right to become the tenant under the Lease in the event of any default by Tenant under the Lease which remains uncured after expiration of any applicable cure period or in the event the Franchise Agreement should for any reason be terminated orexpire.
Collateral Assignment of Lease. THIS COLLATERAL ASSIGNMENT OF LEASE (this "Assignment") is made and entered into this day of , 20 , by and among , and , ("Landlord"), , and , ("Assignor"), and Motherboard, Inc., a Wyoming corporation ("Franchisor"); and In consideration of the mutual promises and covenants herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by each party hereto, the parties agree as follows:
Collateral Assignment of Lease. In the event of a franchisee’s default un- der its lease for its business premises, the lease should provide that the franchisor has the right, but not the obligation, to assume the lease without having to pay any consideration to the landlord, cure any defaults, or replenish the security deposit. The latter two conditions are sometimes difficult to extract from a landlord, but the assumption right is im- perative. To protect itself in this manner, the franchisor should require a collateral assignment of lease that is entered into simultaneously with the franchisee’s lease. This will allow the franchisor to enforce its rights upon default without requiring the cooperation of the franchisee or the consent of the landlord.
Collateral Assignment of Lease. (a) Tenant, in consideration of the Notes and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, does (without the necessity of further action of any party hereto or consent of Landlord) hereby irrevocably, absolutely and unconditionally grant, convey, assign, transfer, and set over unto Collateral Agent all rights, interests, deposits (including but not limited to all security deposits and prepaids under the Lease) and estates of Tenant in, to and under the Lease together with all renewals and extensions of the Lease and other agreements and all other leases or agreements that may hereafter be entered into which cover all or any portion of the Premises), effective upon the occurrence of an Event of Default.
Collateral Assignment of Lease. Notwithstanding any provision hereof to the contrary, to secure the payment of indebtedness due by Lessee, Lessee shall have the right, without Lessor's consent or approval, to assign and transfer its right, title and interest in, to and under the Lease, provided, however, no such assignment shall require Lessor to amend or modify the terms of the Lease. Lessee agrees to notify Lessor of the name and address of any assignee under any such collateral assignment.
Collateral Assignment of Lease duly executed by the Borrower or the Subsidiary, as the case may be, (unless despite the reasonable efforts of the Borrower or such Subsidiary, as the case may be, such Collateral Assignment has not been consented to by the landlord,
