Common use of Assignment of Sublease Rents Clause in Contracts

Assignment of Sublease Rents. Tenant immediately and irrevocably assigns to Landlord, as security for Tenant's obligations under this Lease, all rent from any subletting of all or any part of the Premises, and Landlord, as assignee and as attorney-in-fact for Tenant for purposes hereof, or a receiver for Tenant appointed on Landlord's application, may collect such rents and apply same toward Tenant's obligations under this Lease; provided, however, that until the occurrence of an event of default by Tenant, Tenant shall have the right and license to collect such rents.

Appears in 2 contracts

Sources: Office Lease, Office Lease (Kindred Biosciences, Inc.)

Assignment of Sublease Rents. Tenant immediately and irrevocably assigns to Landlord, as security for Tenant's obligations under this Lease, all rent from any subletting of all or any part of the Premises, and Landlord, as assignee and as attorney-in-fact for Tenant for purposes hereof, or a receiver for Tenant appointed on Landlord's application, may collect such rents and apply same toward Tenant's obligations under this Lease; providedexcept that, however, that until the occurrence of an event act of default by Tenant, Tenant shall have the right and license to collect such rents.

Appears in 2 contracts

Sources: Office Lease (Trimark Holdings Inc), Office Lease (Isocor)

Assignment of Sublease Rents. Tenant immediately and irrevocably assigns to Landlord, as security for Tenant's obligations under this Lease, all rent from any subletting of all or any part of the Premises, and Landlord, as assignee and as attorney-in-fact for Tenant for purposes hereof, or a receiver for Tenant appointed on Landlord's application, may collect such rents and apply same toward Tenant's obligations under this Lease; provided, howeverexcept that, that until the occurrence of an event act of default by Tenant, Tenant shall have the right and license to collect such rents.

Appears in 1 contract

Sources: Lease Amendment (Scanvec Amiable LTD)

Assignment of Sublease Rents. Tenant immediately and irrevocably assigns to Landlord, as security for Tenant's ’s obligations under this Lease, all rent from any subletting of all or any part of the Premises, and Landlord, as assignee and as attorney-in-fact for Tenant for purposes hereof, or a receiver for Tenant appointed on Landlord's ’s application, may collect such rents and apply same toward Tenant's ’s obligations under this Lease; provided, howeverexcept that, that until the occurrence of an event act of default by Tenant, Tenant shall have the right and license to collect such rents.

Appears in 1 contract

Sources: Lease (Parnell Pharmaceuticals Holdings Pty LTD)

Assignment of Sublease Rents. Tenant immediately and irrevocably assigns to Landlord, as security for Tenant's obligations under this Lease, all rent from any subletting of all or any part of the Premises, and Landlord, as assignee and as attorney-in-fact for Tenant for purposes hereof, or a receiver for Tenant appointed on Landlord's application, may collect such rents and apply same toward Tenant's obligations under this Lease; providedexcept that, however, that until the occurrence of an event act of default by Tenant, Tenant shall have the right and license to collect such rents and Landlord shall have no right to collect such rents.

Appears in 1 contract

Sources: Sublease Agreement (Vision Solutions Inc)

Assignment of Sublease Rents. Tenant immediately and irrevocably assigns to Landlord, as security for Tenant's obligations under this Lease, all rent from any subletting of all or any part of the Premises, and Landlord, as assignee and as attorney-in-fact for Tenant for purposes hereof, or a receiver for Tenant appointed on Landlord's application, may collect such rents and apply same toward Tenant's obligations under this Lease; provided, however, except that until the occurrence of an event act of default by Tenant, Tenant shall have the right and license to collect such rents.

Appears in 1 contract

Sources: Office Lease (Doubletwist Inc)