Common use of Possession and Use Clause in Contracts

Possession and Use. Until the occurrence of an Event of Default, Grantor may (1) remain in possession and control of the Property; (2) use, operate or manage the Property; and (3) collect the Rents from the Property.

Possession and Use. Until the occurrence of an Event of Default, Grantor may (1a) remain in possession and control of the Property; , (2b) use, operate or manage the Property; , and (3c) collect the any Rents from the PropertyProperty (this privilege is a license from Lender to Grantor automatically revoked upon the occurrence of an Event of Default).