Assignment Of Leases

Assignment Of Leases-80
Assignments of Leases and Rents means, collectively, each of those certain Assignment of Leases and Rents dated of even date herewith by the Borrower in favor of the Lender, as the same may be amended, reaffirmed, modified or supplemented from time to time.

Assignments of Leases and Rents means, collectively, each of those certain Assignment of Leases and Rents dated of even date herewith by the Borrower in favor of the Lender, as the same may be amended, reaffirmed, modified or supplemented from time to time.The Administrative Agent hereby appoints and authorizes the Collateral Agent to take such action as agent on its behalf with respect to the Mortgage Documents (including execution of the Mortgages and Assignments of Leases and Rents) and to exercise such powers under this Agreement as are delegated to the Collateral Agent by the terms of the Loan Documents, together with such powers as are reasonably incidental thereto.We can help you in negotiation, securing the future of your business, and ensuring an amicable and efficient solution for all concerned.

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The new tenant will be vetted in the same way as you, with financial checks and references, and will have to sign the lease themselves.

An assignment of lease might be the best thing for your business, but to make sure that you act within the law, and to know where you stand, call us for help in contacting your landlord.

Assignments of Leases and Rents means each of those certain Assignments of Leases and Rents, dated the date hereof, by each Borrower and Operator in favor of the Administrative Agent (on behalf of the Lenders).

Assignments of Leases and Rents means the several Assignments of Leases and Rents made or given by Debtor to LCC on or about December 3, 2003 and subsequently assigned by LCC to Steel Partners with respect to Debtor’s real properties to secure, among other things, Debtor’s obligations under the Amended Note.

If you’re unhappy about your current commercial lease situation, an assignment of lease may be the answer.

If you know or can find someone who would be willing to take over as tenant of the property, you can apply to your landlord for an assignment of lease. At Closing, Seller shall assign and Buyer shall assume Seller’s obligations under all Leases and New Leases, pursuant to an assignment of leases in the form attached as Exhibit C (the “Assignment of Leases”). If the Trustee or Tenant has assumed the Lease pursuant to the provisions of this Section 17.6 for the purpose of assigning Tenant’s interest hereunder to any other person or entity, such interest may be assigned only after the Trustee, Tenant or the proposed assignee has complied with all of the terms, covenants and conditions of Section 13.1 herein, including, without limitation, those with respect to additional rent and the use of the Premises only as permitted in Article VIII herein; Landlord and Tenant acknowledging that such terms, covenants and conditions are commercially reasonable in the context of a bankruptcy proceeding of Tenant.Any person or entity to which this Lease is assigned pursuant to the provisions of the Code shall be deemed without further act or deed to have assumed all of the obligations arising under this Lease on and after the date of such assignment.The lessee transfers the entire unexpired remainder of the lease term to a third party.The assignor remains liable under the original lease contract unless expressly released by the landlord.Sometimes it may be possible to negotiate your way out of this, so it’s a good idea to get professional advice.Sometimes, a landlord can refuse to give an assignment of lease.Some leases may contain restrictions on assignments or subleases.In the era that preceded the Bankruptcy Reform Act of 1978 and its enactment of the Bankruptcy Code, bankruptcy estates often lost the value of leases and other contracts that could have been realized for creditors by use or sale as a result of termination provisions (either discretionary or ), limitations or outright prohibitions on assignment, and counterparty self-help.[1] The Code sought to preserve that value for creditors by a skein of related provisions that (among other things) greatly strengthened the automatic stay,[2] rendered bankruptcy termination provisions unenforceable,[3] and constrained provisions that limit the assignment of contracts for value by bankruptcy estates.[4] The constraint on provisions limiting assignments not only outlaws any provision in a contract or lease (and not only so, but also “in applicable law”) that “prohibits . Assignments of Leases and Rents Either a collateral or an absolute assignment of leases and rents may be accom- plished within the deed of trust or by separate instrument, and both practices are common and equally effective.All references in the Loan Documents to the Credit Agreement, the Guaranty, the Mortgages and the Assignments of Leases and Rents shall be deemed a reference to the Credit Agreement, the Guaranty, the Mortgages and the Assignments of Leases and Rents, as modified and amended herein or pursuant hereto.

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