LICENSE TO COLLECT Sample Clauses
The "License to Collect" clause grants one party the legal right to gather, receive, or collect certain payments, information, or assets from another party or third parties. In practice, this clause may apply to situations where a lender is authorized to collect loan repayments directly from a borrower's account, or where a service provider is permitted to collect data necessary for fulfilling contractual obligations. Its core function is to ensure that the authorized party has clear and explicit permission to perform collection activities, thereby reducing disputes and facilitating efficient contract performance.
LICENSE TO COLLECT. Lender grants to Assignor a revocable license to hold and administer the Security Deposits and to collect the Rents as they respectively become due and to enforce the Leases and to exercise the rights of lessor thereunder, so long as there is no Event of Default by Assignor hereunder. Assignor hereby irrevocably authorizes and directs that upon the occurrence of any Event of Default, each of the Tenants under the Leases, upon receipt of a written notice from Lender so demanding, are to pay all Rent and Security Deposits due or which becomes due under its Lease to Lender.
LICENSE TO COLLECT. Subject to Mortgagee's rights under Section 11, Mortgagee hereby confers upon Mortgagor a non-exclusive license to collect and retain the Rents as they become due and payable.
LICENSE TO COLLECT. The Assignee hereby grants to the Assignor a license to collect the Rents as such Rents respectively become due and to enforce the Subleases and the Guaranties, so long as no Lease Default exists (the "License"). The Assignor shall hold the Rents, or such portion of the Rents as is sufficient to discharge all sums currently due under the Lease Documents, in trust for use in satisfaction of the Obligations. The Assignor hereby irrevocably authorizes and directs each of the Sublessees under the Subleases and the guarantors under the Guaranties, upon receipt of a written notice from the Assignee so demanding, to pay all Rents due or which become due under the Subleases or the Guaranties to the Assignee and to continue to do so until otherwise notified by the Assignee. Neither the Sublessees, nor any of the guarantors under the Guaranties shall have any obligation to determine whether or not a Lease Default does in fact exist. Notwithstanding anything contained herein to the contrary, the Assignor agrees that the Assignee, and not the Assignor, shall be and is deemed to be the creditor of each Sublessee under each Sublease and each guarantor under each Guaranty with respect to any and all of the Rents which may be payable by any Sublessee under any Sublease and by any guarantor under any of the Guaranties on account of a default by the Sublessee under such Sublease, including, without limitation, any damages or further rentals payable by such Sublessee or such guarantor on account of or after such default, and in respect of all assignments for the benefit of creditors and bankruptcy, reorganization, insolvency, dissolution or receivership proceedings affecting any Sublessee under any Sublease or any guarantor under any of the Guaranties (without any obligation on the part of the Assignee, however, to file or make timely filings of claims in such proceedings or otherwise to pursue creditor's rights thereon), and the Assignee shall have the option to apply any money received or receivable by the Assignee as such creditor in reduction of the Obligations, whether or not a Lease Default shall then exist.
LICENSE TO COLLECT. Subject to Beneficiary's rights under ------------------ Article XI, Trustee and Beneficiary hereby confer upon Trustor a revocable, non- exclusive license to collect and retain the Rents as they become due and payable.
LICENSE TO COLLECT. Beneficiary hereby grants to Trustor an exclusive license, revocable upon occurrence of an Event of Default, to possess, use, and enjoy the Mortgaged Properties and to collect and retain the proceeds of and from the Mortgaged Properties, unless and until an Event of Default occurs.
LICENSE TO COLLECT. Notwithstanding the foregoing assignment of the Rents, so long as no Event of Default has occurred and is continuing, the Trustor shall have a revocable license to collect all the Rents, and to retain and enjoy the same.
LICENSE TO COLLECT. Bank grants to Borrower a revocable license to collect the Rent as it respectively becomes due and to enforce the Leases, so long as there is no Event of Default by Borrower hereunder. Borrower hereby irrevocably authorizes and directs each of the Lessees under the Leases, upon receipt of a written notice from Bank so demanding, to pay all Rent due or which becomes due under its Lease to Bank.
LICENSE TO COLLECT. The parties intend that this Assignment shall be a present, absolute and unconditional assignment and shall, immediately upon execution, give Assignee the right to collect the Rents and Profits and to apply them in payment of all sums payable by Assignor under each of the Secured Obligations as provided above. However, Assignee hereby grants to Assignor a license to collect, use and enjoy, subject to the provisions set forth below and in the Deed of Trust, the Rents and Profits as they respectively become due and to enforce the Leases, so long as no Event of Default has occurred and is continuing. In addition, Assignor shall have those rights and obligations with respect to the Leases as are set forth in the Deed of Trust and the Credit Agreement. Nothing contained herein, nor any collection of Rents and Profits by Assignee or by a receiver, shall be construed to make Assignee a "mortgagee-in-possession" of the Property so long as Assignee has not itself entered into actual possession of the Property.
LICENSE TO COLLECT. Subject to Mortgagee's rights under Article ------------------ XI, Mortgagee hereby confers upon Mortgagor a non-exclusive license to collect and retain the Rents as they become due and payable.
LICENSE TO COLLECT. The assignment granted in Section 4.1 is, however, subject to a right, prior to the occurrence of an Event of Default, hereby granted by Mortgagee to Mortgagor, but limited as hereinafter provided, to collect and receive all of the Rents, Losses or Rebates, Damages, and Abatements.