Common use of Leases of the Property Clause in Contracts

Leases of the Property. Upon assignment by the Mortgagor to the Mortgagee of any Leases or subleases of the Property, the Mortgagee shall have, subject to the License (as defined below), all of the rights and powers possessed by the Mortgagor prior to such assignment and the right to modify, extend or terminate any and all existing Leases and subleases and to execute new Leases and subleases, in the Mortgagee's sole discretion.