Common use of Absolute Assignment of Leases and Rents Clause in Contracts

Absolute Assignment of Leases and Rents. In consideration of the making of the Loan by Mortgagee to Mortgagor and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Mortgagor absolutely and unconditionally assigns the Leases and Rents to Mortgagee. This assignment is, and is intended to be, an unconditional, absolute and present assignment from Mortgagor to Mortgagee of all of Mortgagor’▇ ▇▇▇▇▇, title and interest in and to the Leases and the Rents and not an assignment in the nature of a pledge of the Leases and Rents or the mere grant of a security interest therein. So long as no Event of Default shall exist, however, and so long as Mortgagor is not in default in the performance of any obligation, covenant or agreement contained in the Leases, Mortgagor shall have a license (which license shall terminate automatically and without notice upon the occurrence of an Event of Default or a default by Mortgagor under the Leases) to collect, but not prior to accrual, all Rents. Mortgagor ▇▇▇▇▇▇ ▇o collect and hold all Rents in trust for Mortgagee and to use the Rents for the payment of the cost of operating and maintaining the Property and for the payment of the other Obligations before using the Rents for any other purpose.

Absolute Assignment of Leases and Rents. In consideration of the making of the Loan by Mortgagee L▇▇▇▇▇▇ to Mortgagor Grantor and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Mortgagor Grantor absolutely and unconditionally assigns the Leases and Rents to MortgageeBeneficiary (as agent for Lenders). This assignment is, and is intended to be, an unconditional, absolute and present assignment from Mortgagor Grantor to Mortgagee of all of Mortgagor’▇ Beneficiary (as agent for L▇▇▇▇▇▇) of all of Grantor’s right, title and interest in and to the Leases and the Rents and not an assignment in the nature of a pledge of the Leases and Rents or the mere grant of a security interest therein. So long as no Event of Default shall exist, however, and so long as Mortgagor Grantor is not in default in the performance of any obligation, covenant or agreement contained in the Leases, Mortgagor Grantor shall have a license (which license shall terminate automatically and without notice upon the occurrence of an Event of Default or a default by Mortgagor Grantor under the Leases) to collect, but not prior to accrual, all Rents. Mortgagor G▇▇▇▇▇▇ ▇o agrees to collect and hold all Rents in trust for Mortgagee Beneficiary (as agent for Lenders) and to use the Rents for the payment of the cost of operating and maintaining the Property and for the payment of the other Obligations before using the Rents for any other purpose.

Absolute Assignment of Leases and Rents. In consideration of the making of the Loan by Mortgagee Beneficiary to Mortgagor and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Mortgagor absolutely and unconditionally assigns the Leases and Rents to MortgageeBeneficiary which, whether before or after foreclosure or during the full period of redemption, accrue and are owing for the use and occupancy of all or any part of the Property. This assignment is, and is intended to be, an unconditional, absolute and present assignment from Mortgagor to Mortgagee Beneficiary of all of Mortgagor’▇ ▇▇▇▇▇’s right, title and interest in and to the Leases and the Rents and not an assignment in the nature of a pledge of the Leases and Rents or the mere grant of a security interest therein. So long as no Event of Default shall exist, however, and so long as Mortgagor is not in default in the performance of any obligation, covenant or agreement contained in the Leases, Mortgagor shall have a license (which license shall terminate automatically and without notice upon the occurrence of an Event of Default or a default by Mortgagor under the LeasesDefault) to collect, but not prior to accrual, all Rents. Mortgagor ▇▇▇▇▇▇ ▇o agrees to collect and hold all Rents in trust for Mortgagee Beneficiary and to use the Rents for the payment of the cost of operating and maintaining the Property and for the payment of the other Obligations before using the Rents for any other purpose.

Absolute Assignment of Leases and Rents. In consideration of the making of the Loan by Mortgagee Lenders to Mortgagor Borrower, the sum of Ten and No/100 Dollars ($10.00) and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Mortgagor Grantor absolutely and unconditionally assigns the Leases and Rents to MortgageeBeneficiary for the benefit of Lenders. This assignment is, and is intended to be, an unconditional, absolute and present assignment from Mortgagor Grantor to Mortgagee Beneficiary of all of Mortgagor’▇ ▇▇▇▇▇Grantor’s right, title and interest in and to the Leases and the Rents and not an assignment in the nature of a pledge of the Leases and Rents or the mere grant of a security interest therein. So long as no Event of Default shall exist, however, and so long as Mortgagor Grantor is not in default in the performance of any obligation, covenant or agreement contained in the Leases, Mortgagor Grantor shall have a license (which license shall terminate automatically and without notice upon the occurrence of an Event of Default or a default by Mortgagor Grantor under the Leases) to collect, but not prior to accrual, all Rents. Mortgagor ▇▇▇▇▇▇ ▇o Grantor agrees to collect and hold all Rents in trust for Mortgagee Beneficiary and to use the Rents for the payment of the cost of operating and maintaining the Property and for the payment of the other Obligations before using the Rents for any other purpose.

Absolute Assignment of Leases and Rents. In consideration of the making of the Loan by Mortgagee Lenders to Mortgagor and the other Borrowers, the sum of Ten and No/100 Dollars ($10.00) and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Mortgagor absolutely and unconditionally assigns the Leases and Rents to Mortgagee, for the ratable benefit of Lenders. This assignment is, and is intended to be, an unconditional, absolute and present assignment from Mortgagor to Mortgagee of all of Mortgagor’▇ ▇▇▇▇▇’s right, title and interest in and to the Leases and the Rents and not an assignment in the nature of a pledge of the Leases and Rents or the mere grant of a security interest therein. So long as no Event of Default shall exist, however, and so long as Mortgagor is not in default in the performance of any obligation, covenant or agreement contained in the Leases, Mortgagor shall have a license (which license shall terminate automatically and without notice upon the occurrence of an Event of Default or a default by Mortgagor under the LeasesDefault) to collect, but not prior to accrual, all Rents. Mortgagor ▇▇▇▇▇▇ ▇o agrees to collect and hold all Rents in trust for Mortgagee and to use the Rents for the payment of the cost of operating and maintaining the Property and for the payment of the other Obligations before using the Rents for any other purpose.