Common use of Assignment of Rents and Leases Clause in Contracts

Assignment of Rents and Leases. Effective upon the recordation of this Deed of Trust, the assignment of Rents and Leases set out above in Granting Clause (G) shall constitute an absolute and present assignment to Beneficiary, subject to the license herein given to Trustor to collect the Rents (including the Account Receivables, to the extent they are deemed to be Rents), and shall be fully operative without any further action on the part of any party, and Trustor hereby irrevocably, absolutely, presently and unconditionally assigns to Beneficiary all Rents and Leases. This is an absolute assignment and not an assignment for security only. Beneficiary shall be entitled upon the occurrence of an Event of Default hereunder to all Rents and to enter into the Site and the Improvements to collect all such Rents, provided, however, that Beneficiary shall not be obligated to take possession of the Trust Estate, or any portion thereof. The absolute assignment contained in Granting Clause (G) shall not be deemed to impose upon Beneficiary any of the obligations or duties of Trustor provided in any Ground Lease or Space Lease (including, without limitation, any liability under the covenant of quiet enjoyment contained in any lease in the event that any lessee shall have been joined as a party defendant in any action to foreclose this Deed of Trust and shall have been barred and foreclosed thereby of all right, title and interest and equity of redemption in the Trust Estate or any part thereof).

Assignment of Rents and Leases. Effective upon the recordation of this Deed of Trust, the The assignment of Rents and Leases set out above in Granting Clause (G) shall constitute an absolute and present assignment to Beneficiary, subject to the license herein given to Trustor to collect the Rents (including the Account Receivables, to the extent they are deemed to be Rents), and shall be fully operative without any further action on the part of any party, and Trustor hereby irrevocably, absolutely, presently and unconditionally assigns to Beneficiary all Rents and Leases. This is an absolute assignment and not an assignment for security only. specifically Beneficiary shall be entitled upon the occurrence of an Event of Default hereunder to all Rents and to enter into the Site Leased Premises and the Improvements to collect all such Rents, provided, however, that Beneficiary shall not be obligated to take possession of the Trust Estate, or any portion thereof. The absolute assignment contained in Granting Clause (G) shall not be deemed to impose upon Beneficiary any of the obligations or duties of Trustor provided in any Ground Lease or such Space Lease (including, without limitation, any liability under the covenant of quiet enjoyment contained in any lease in the event that any lessee shall have been joined as a party defendant in any action to foreclose this Leasehold Deed of Trust and shall have been barred and foreclosed thereby of all right, title and interest and equity of redemption in the Trust Estate or any part thereof).

Assignment of Rents and Leases. Effective upon the recordation of this Deed of TrustMortgage, the assignment of Rents and Leases set out above in Granting Clause (GH) shall constitute an absolute and present assignment to BeneficiaryMortgagee, subject to the license herein given to Trustor Mortgagor to collect the Rents (including the Account ReceivablesAccounts Receivable, to the extent they are deemed to be Rents), and shall be fully operative without any further action on the part of any party, and Trustor Mortgagor hereby irrevocably, absolutely, presently and unconditionally assigns to Beneficiary Mortgagee all Rents and Space Leases. This is an absolute assignment and not an assignment for security only. Beneficiary Mortgagee shall be entitled upon the occurrence and during the continuance of an Event of Default hereunder to all Rents and to enter into the Site and the Improvements to collect all such Rents, provided, however, that Beneficiary Mortgagee shall not be obligated to take possession of the Trust EstateMortgaged Property, or any portion thereof. The absolute assignment contained in Granting Clause (GH) shall not be deemed to impose upon Beneficiary Mortgagee any of the obligations or duties of Trustor Mortgagor provided in any Ground Lease or Space Lease (including, without limitation, any liability under the covenant of quiet enjoyment contained in any lease in the event that any lessee shall have been joined as a party defendant in any action to foreclose this Deed of Trust Mortgage and shall have been barred and foreclosed thereby of all right, title and interest and equity of redemption in the Trust Estate Mortgaged Property or any part thereof).