Common use of Collection of Revenues Clause in Contracts

Collection of Revenues. In connection with the exercise by Collateral Agent of the rights and remedies provided for in subparagraph (a)(ii) of this Paragraph 18: (i) Collateral Agent may notify any tenant, lessee or licensee of the Property, either in the name of Collateral Agent or Grantor, to make payment of Revenues directly to Collateral Agent or Collateral Agent's agents, may advise any person of Collateral Agent's interest in and to the Revenues, and may collect directly from such tenants, lessees and licensees all amounts due on account of the Revenues; (ii) At Collateral Agent's request, Grantor will provide written notification to any or all tenants, lessees and licensees of the Property concerning Collateral Agent's interest in the Revenues and will request that such tenants, lessees and licensees forward payment thereof directly to Collateral Agent; (iii) Grantor shall hold any proceeds and collections of any of the Revenues in trust for Collateral Agent and shall not commingle such proceeds or collections with any other funds of Grantor; and (iv) Grantor shall deliver all such proceeds to Collateral Agent immediately upon the receipt thereof by Grantor in the identical form received, but duly endorsed or assigned on behalf of Grantor to Collateral Agent.

Collection of Revenues. In connection with the exercise by Collateral Agent of the rights and remedies provided for in subparagraph (a)(ii) of this Paragraph 1819: (i) Collateral Agent may notify any tenant, lessee or licensee of the Property, either in the name of Collateral Agent or Grantor, to make payment of Revenues directly to Collateral Agent or Collateral Agent's agents, may advise any person of Collateral Agent's interest in and to the Revenues, and may collect directly from such tenants, lessees and licensees all amounts due on account of the Revenues; (ii) At Collateral Agent's request, Grantor will provide written notification to any or all tenants, lessees and licensees of the Property concerning Collateral Agent's interest in the Revenues and will request that such tenants, lessees and licensees forward payment thereof directly to Collateral Agent; (iii) Grantor shall hold any proceeds and collections of any of the Revenues in trust for Collateral Agent and shall not commingle such proceeds or collections with any other funds of Grantor; and (iv) Grantor shall deliver all such proceeds to Collateral Agent immediately upon the receipt thereof by Grantor in the identical form received, but duly endorsed or assigned on behalf of Grantor to Collateral Agent.