Common use of Assignment of Management Agreement Clause in Contracts

Assignment of Management Agreement. As additional collateral security for the Loan, Borrower hereby conditionally transfers, sets over and assigns to Agent all of Borrower’s right, title and interest in and to the Management Agreement, said transfer and assignment to automatically become a present, unconditional assignment, at Agent’s option, in the event of a default by Borrower under the Note, the Loan Agreement, the Mortgage or any of the other Loan Documents, including, but not limited to, escrow agreements, and the failure of Borrower to cure such default within any applicable grace period.

Assignment of Management Agreement. As additional collateral security for the Loan, Borrower hereby conditionally transfers, sets over and assigns to Agent Lender all of Borrower’s right, title and interest in and to the Management Agreement, said transfer and assignment to automatically become a present, unconditional assignment, at AgentLender’s option, in upon the event occurrence of a default by Borrower an Event of Default under the Note, the Loan Agreement, the Mortgage any Security Instrument or any of the other Loan Documents, including, including but not limited to, to escrow agreements, and the failure of Borrower to cure such default within any applicable grace period.

Assignment of Management Agreement. As additional collateral ---------------------------------- security for the Loan, Borrower hereby conditionally transfers, sets over and assigns to Agent the Lender all of Borrower’s 's right, title and interest in and to the Management Agreement, said transfer and assignment to automatically become a present, unconditional assignment, at Agent’s the Lender's option, in the event of a default by Borrower under the Note, the Loan Agreement, the Mortgage Security Instrument or any of the other Other Loan Documents, including, including but not limited to, to escrow agreements, and the failure of Borrower to cure such default within any applicable grace period.