Laserfiche WebLink
<br />88-104891 <br /> <br />(d) Prior to actual taking of possession of the <br />Premises by the Assignee, this Assignment shall not operate to <br />place upon the Assignee any responsibility for the use, control, <br />care or protection of the Lease or the premises, and the execution <br />of this Assignment by the Assignor shall constitute conclusive <br />evidence that all responsibility for the use, control, care and <br />protection of the premises is and shall be that of the Assignor <br />(subject to the Lease) prior to such actual taking of possession. <br /> <br />7. Default. <br /> <br />upon the occurrence of an Event of Default, the Assignee <br />may exercise such rights and remedies with respect to payment and <br />performance as are provided by law, in the Loan Documents, and in <br />any other agreement entered into by the Assignor in connection <br />therewith or herewith. <br /> <br />B. Assignment After An Event Of Default. <br /> <br />Upon the occurrence of an Event of Default, in addition <br />to all of its other rights and remedies, the Assignee may, at any <br />time and from time to time thereafter, subject to the terms of the <br />Lease, (a) upon five (5) days' prior written notice to the <br />Assignor, assign the Lease or sublet the Premises (or any <br />portion(s) thereof) to third parties upon such terms and <br />conditions as the Assignee shall see fit, and (b) receive and <br />retain the monies arising therefrom and apply the same in <br />reduction or payment of the Obligations, with the balance thereof, <br />if any, to be paid to the Assignor. In connection with any such <br />assignment(s) and/or sublease(s), the Assignor may execute and <br />deliver all such documents and take all such action as may be <br />necessary or appropriate in order to accomplish such assignment(s) <br />and/or sublease(s). <br /> <br />9. Power Of Sale After An Event Of Default. <br /> <br />Upon the occurrence of an Event of Default, in addition <br />to all of its other rights and remedies, the Assignee may, at any <br />time and from time to time thereafter, either before or after any <br />grant of rights under the terms of Section B hereof, but subject <br />to the terms of the Lease, upon five (5) days' prior written <br />notice to the Assignor, sell the Lease, including any rights or <br />benefits accruing thereunder if any have been granted, at public <br />or private sale, at which the ASBignee may become the purchaser, <br />and assign and transfer all right, title and interest in the Lease <br />to the purchaser(s) thereof. In furtherance of such right to sell <br />the Lease, the Assignor hereby authorizes the Assignee to execute <br />and deliver all assignments and other instruments as may be <br />necessary or appropriate in connection therewith. The Assignee <br />shall apply the proceeds of any such sale in reduction or payment <br /> <br />- 5 - <br />