Common use of LICENSE TO COLLECT Clause in Contracts

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.