Common use of PRESENT ASSIGNMENT AND LICENSE BACK Clause in Contracts

PRESENT ASSIGNMENT AND LICENSE BACK. It is intended by Assignor that this Assignment constitute a present, absolute assignment of the Leases, Rents, Lease Guaranties and Bankruptcy Claims, and not an assignment for additional security only. Nevertheless, subject to the terms of this Section 2.1 and the Loan Agreement, Lender grants to Assignor a revocable license to collect and receive the Rents and other sums due under the Lease Guaranties. Assignor shall hold the Rents and all sums received pursuant to any Lease Guaranty, or a portion thereof sufficient to discharge all current sums due on the Debt, for use in the payment of such sums.

PRESENT ASSIGNMENT AND LICENSE BACK. It is intended by Assignor that this Assignment constitute a present, absolute assignment of the Leases, Rents, Lease Guaranties and Bankruptcy Claims, and not an assignment for additional security only. Nevertheless, subject to the terms of this Section 2.1 and the Credit Agreement and the other Loan AgreementDocuments, Lender Assignee grants to Assignor a revocable license to collect collect, receive, use and receive enjoy the Rents and other sums due under the Lease Guaranties. Guaranties and Assignor shall hold the such Rents and all sums received pursuant to any Lease Guaranty, or a portion thereof sufficient to discharge all current sums due on under the DebtCredit Agreement, in trust for the benefit of Assignee for use in the payment of such sums.

PRESENT ASSIGNMENT AND LICENSE BACK. It is intended by Assignor that this Assignment constitute a present, absolute assignment of the Leases, Rents, Lease Guaranties and Bankruptcy Claims, and not an assignment for additional security only. Nevertheless, subject to the terms of this Section 2.1 and the Loan AgreementSection 3.1 hereof, Lender grants to Assignor a revocable license to collect collect, receive, use and receive enjoy the Rents and Rents, as well as other sums due under the Lease Guaranties. Assignor shall hold the Rents and Rents, as well as all sums received pursuant to any Lease Guaranty, or a portion thereof sufficient to discharge all current sums due on the Debt, in trust for the benefit of Lender for use in the payment of such sums.