Leases and Rents. (a) Borrower assigns the Leases and the Rents to Lender absolutely and not merely as additional collateral or security for the payment and performance of the Obligations, but subject to a license back to Borrower of the right to collect the Rents unless and until an Event of Default occurs at which time the license will terminate automatically, all as more particularly set forth in the Assignment, the provisions of which are incorporated in this Mortgage by reference.
Appears in 4 contracts
Samples: Rents and Security Agreement (Life Time Fitness Inc), Security Agreement and Fixture (Cabot Industrial Trust), Life Time Fitness Inc
Leases and Rents. (a) Borrower assigns the Leases and the Rents to Lender absolutely and unconditionally and not merely as additional collateral or security for the payment and performance of the Obligations, but subject to a license back to Borrower of the right to collect the Rents unless and until an Event of Default occurs at which time the license will terminate automatically, all as more particularly set forth in the Assignment, the provisions of which are incorporated in this Mortgage Deed of Trust by reference.
Appears in 3 contracts
Samples: Security Agreement and Fixture Filing (Parkway Properties Inc), Security Agreement and Fixture Filing (Stratus Properties Inc), Neurocrine Biosciences Inc
Leases and Rents. (a) Borrower assigns the Leases and the Rents to Lender absolutely and unconditionally and not merely as additional collateral or security for the payment and performance of the Obligations, but subject to a license back to Borrower of the right to collect the Rents unless and until an Event of Default occurs at which time the license will terminate automatically, all as more particularly set forth in the Assignment, the provisions of which are incorporated in this Mortgage by reference.
Appears in 2 contracts
Samples: Security Agreement and Fixture Filing (New England Realty Associates Limited Partnership), Security Agreement and Fixture Filing (Glimcher Realty Trust)
Leases and Rents. (a) Borrower assigns the Leases and the Rents to Lender absolutely and unconditionally and not merely as additional collateral or security for the payment and performance of the Obligations, but subject to a license back to Borrower of the right to collect collect, receive and use the Rents unless and until an Event of Default occurs at which time the license will terminate automatically, all as more particularly set forth in the Assignment, the provisions of which are incorporated in this Mortgage Deed of Trust by reference.
Appears in 2 contracts
Samples: Security Agreement and Fixture Filing Statement (Kilroy Realty Corp), Security Agreement and Fixture (Kilroy Realty Corp)
Leases and Rents. (a) Borrower assigns the Leases and the Rents to Lender absolutely and not merely as additional collateral or security for the payment and performance of the Obligations, but subject to a license back to Borrower of the right to collect the Rents unless and until an Event of Default occurs (until such Event of Default is cured) at which time the license will terminate automatically, all as more particularly set forth in the Assignment, the provisions of which are incorporated in this Mortgage by reference.
Appears in 2 contracts
Samples: Security Agreement (Inland Real Estate Corp), Security Agreement (Inland Real Estate Corp)
