Common use of Collection and Application of Rents Clause in Contracts

Collection and Application of Rents. Subject to the License granted to Assignor under Section 2 above, Assignee has the right, power and authority to collect any and all Rents after the occurrence and during the continuance of an Event of Default. Assignor hereby appoints Assignee its attorney-in-fact, which power of attorney is with full power of substitution and coupled with an interest, after the occurrence and during the continuance of an Event of Default to perform any and all of the following acts as Assignee, in its sole discretion, may elect: (a) Demand, receive and enforce payment of any and all Rents; (b) Give receipts, releases and satisfactions for any and all Rents; or (c) ▇▇▇ either in the name of Assignor or in the name of Assignee for any and all Rents. Assignee may, in its sole discretion, choose to collect Rents either with or without taking possession of the Property. Even if Assignee is collecting and applying Rents as permitted under this Assignment, Assignee shall still be entitled, upon an Event of Default, to exercise and invoke every right and remedy provided to it under this Agreement, the Mortgage, or under any of the other Loan Documents.

Collection and Application of Rents. Subject to the License granted to Assignor under Section 2 above, Assignee has the right, power and authority to collect any and all Rents after the occurrence and during the continuance of an Event of Default. Assignor hereby appoints Assignee its attorney-in-fact, which power of attorney is with full power of substitution and coupled with an interest, after the occurrence and during the continuance of an Event of Default to perform any and all of the following acts as Assignee, in its sole discretion, may elect: (a) Demand, receive and enforce payment of any and all Rents; (b) Give receipts, releases and satisfactions for any and all Rents; or (c) ▇▇▇ either in the name of Assignor or in the name of Assignee for any and all Rents. Assignee may, in its sole discretion, choose to collect Rents either with or without taking possession of the Property. Even if Assignee is collecting and applying Rents as permitted under this Assignment, Assignee shall still be entitled, upon an Event of Default, to exercise and invoke every right and remedy provided to it under this AgreementAssignment, the Mortgage, or under any of the other Loan Documents.

Collection and Application of Rents. Subject to the License granted to Assignor under Section 2 above, Assignee has the right, power power, and authority to collect any and all Rents after the occurrence and during the continuance of an Event of Default. Assignor hereby appoints Assignee its attorney-in-fact, which power of attorney is with full power of substitution and coupled with an interest, after the occurrence and during the continuance of an Event of Default to perform any and all of the following acts as Assignee, in its sole discretion, may elect: (a) Demand, receive and enforce payment of any and all Rents; (b) Give receipts, releases and satisfactions for any and all Rents; or (c) ▇▇▇ either in the name of Assignor or in the name of Assignee for any and all Rents. Assignee may, in its sole discretion, choose to collect Rents either with or without taking possession of the Property. Even if Assignee is collecting and applying Rents as permitted under this Assignment, Assignee shall still be entitled, upon an Event of Default, to exercise and invoke every right and remedy provided to it under this AgreementAssignment, the Mortgage, or under any of the other Loan Documents. At Assignee’s request, upon an Event of Default that has occurred and is continuing, Assignor shall deliver a copy of this Assignment to the Lessee to each manager and managing agent or operator of the Property, and shall direct Lessee, any tenant, manager, managing agent, or operator of the Property, without any requirement for notice to or consent by Assignor, to comply with all demands of Assignee under this Assignment to turn over to Assignee on demand all Rents which it receives.