Collection of Rents. Notwithstanding anything to the contrary contained herein, so long as no Event of Default with respect to the Notes shall occur and be continuing, Trustor shall have a license, revocable upon the occurrence and during the continuance of an Event of Default, to collect all Rents from the Property and to retain, use and enjoy the same and to otherwise exercise all rights with respect thereto, subject to the terms hereof. Upon the occurrence and during the continuance of an Event of Default, the license hereinabove granted to Trustor shall, without the requirement of the giving of notice or taking of any action by any party, be revoked, and Beneficiary shall have the complete right and authority to exercise and enforce any and all of its rights and remedies provided herein or by Applicable Laws.
Appears in 3 contracts
Samples: Fitzgeralds Gaming Corp, Fitzgeralds Gaming Corp, Fitzgeralds Gaming Corp
Collection of Rents. Notwithstanding anything to the contrary contained herein, so long as no Event of Default with respect to the Notes Loan Agreement shall occur and be continuing, Trustor shall have a license, revocable upon the occurrence and during the continuance of an Event of Default, Default to collect all Rents from the Property and to retain, use and enjoy the same and to otherwise exercise all rights with respect thereto, subject to the terms hereof. Upon the occurrence and during the continuance of an Event of Default, Default the license hereinabove granted to Trustor shall, without the requirement of the giving of notice or taking of any action by any party, be revoked, and Beneficiary shall have the complete right and authority to exercise and enforce any and all of its rights and remedies provided herein or by Applicable Laws.
Appears in 2 contracts
Samples: Lease Agreement (Fitzgeralds Gaming Corp), Stock Pledge Agreement (Sands Regent)
Collection of Rents. Notwithstanding anything to the contrary contained herein, so long as no Event of Default with respect to the Notes shall occur and be continuing, Trustor shall have a license, revocable upon the occurrence and during the continuance of an Event of Default, to collect all Rents from the Property and to retain, use and enjoy the same and to otherwise exercise all rights with respect thereto, subject to the terms hereof. Upon the occurrence and during the continuance of an Event of Default, the license hereinabove granted to Trustor shall, without the requirement of the giving of notice or taking of any action by any party, be revoked, and Beneficiary shall have the complete right and authority to exercise and enforce any and all of its rights and remedies provided herein or by Applicable Laws.
Appears in 1 contract
Samples: Majestic Investor Capital Corp
Collection of Rents. Notwithstanding anything to the contrary contained herein, so long as no Event of Default with respect to the Notes shall occur and be continuing, Trustor shall have a license, revocable upon the occurrence and during the continuance of an Event of Default, to collect all Rents from the Property and to retain, use and enjoy the same and to otherwise exercise all rights with respect thereto, subject to the terms hereof. Upon the occurrence and during the continuance of an Event event of Default, the license hereinabove granted to Trustor shall, without the requirement of the giving of notice or taking of any action by any party, be revoked, and Beneficiary beneficiary shall have the complete right and authority to exercise and enforce any and all of its rights and remedies provided herein or by Applicable Laws.
Appears in 1 contract
Samples: Fitzgeralds Gaming Corp
Collection of Rents. Notwithstanding anything to the contrary contained herein, so long as no Event of Default with respect to the Notes shall occur and be continuing, Trustor shall have a license, revocable upon the occurrence and during the continuance of an Event of Default, to collect all Rents from the Property and to retain, use and enjoy the same and to otherwise exercise all rights with respect thereto, subject to the terms hereof. Upon the occurrence and during the continuance of an Event of Default, the license hereinabove granted to Trustor shall, without the requirement of the giving of notice or taking of any action by any party, be revoked, and Beneficiary shall have the complete right and authority to exercise and enforce any and all of its rights and remedies provided herein or by Applicable Laws.Beneficiary
Appears in 1 contract
Samples: Fitzgeralds Gaming Corp
Collection of Rents. Notwithstanding anything to the contrary contained herein, so long as no Event of Default with respect to the Notes shall occur and be continuing, Trustor the Trustors shall have a license, revocable upon the occurrence and during the continuance of an Event of Default, to collect all Rents from the Property and to retain, use and enjoy the same and to otherwise exercise all rights with respect thereto, subject to the terms hereof. Upon the occurrence and during the continuance of an Event of Default, the license hereinabove granted to Trustor the Trustors shall, without the requirement of the giving of notice or taking of any action by any party, be revoked, and Beneficiary shall have the complete right and authority to exercise and enforce any and all of its rights and remedies provided herein or by Applicable Laws.
Appears in 1 contract
Collection of Rents. Notwithstanding anything to the contrary contained herein, so long as no Event of Default with respect to the Notes shall occur and be continuing, Trustor shall have a license, revocable upon the occurrence and during the continuance of an Event of Default, to collect all Rents from the Property and to retain, use and enjoy the same and to otherwise exercise all rights with respect thereto, subject to the terms hereof. Upon the occurrence and during the continuance of an Event of Default, the license hereinabove granted to Trustor shall, without the requirement of the giving of notice or taking of any action by any party, be revoked, and Beneficiary shall have the complete right and authority to exercise and enforce any and all of its rights and remedies provided herein or by Applicable Laws.authority
Appears in 1 contract
Samples: Fitzgeralds Gaming Corp