HomeMy WebLinkAbout1721 o.R. i65~ ~ ~E~ .iioi ~ 294
the terms and provisiona of the aforesaid promissory note and Loan
Aqreement. The manner of the application of such net income and
the item which shall be credited shall be within the sole discretion
of the Bank.
Granada hereby covenants and warrants to the Bank that
Granada has not executed any prior assignment of said Lease or rentals,
nor has Granada performed any acts or executed any other assignment
which might prevent the Bank from operating under any of the terms
and conditions of this assignment, or which would limit the Bank in
~
such operation; and Granada further covenants and warrants to the ~
Bank that Granada has not executed or granted any modification
whatever of said Lease, except as aforesaid, either orally or in
writing, and that such Lease is in full force and effect according
to its terms, except the Lessee under said Lease is nvw The Coca-Cola
• Company, acting by and through its Minute Maid Company Division. and
Granada further covenants and warrants to the Barilc that there are no
defaults naw existing under said Lease.
;
Granada hereby irrevocably authorizes and directs the said
The Coca-Cola C~npany and any successor to the interest of the said
;
The Coca-Cola Comnpany under said ?,ease, upon receipt of any writing
of the Bank stating that an event of default has occurred under the i~
Loan Agreement or that a default exists in the performance of the
promises or agreements on the part of Granada under said pranissory
note, to pay to the Bank the rents and other swas of money due and ~
to become due under the Lease. Granada agrees that the said The
Coca-Cola Company shall have the right to rely upon any such state-
~
ment and request by the Bank, that the said The Coca-Cola Company ~
shall pay such rents to the Bank without any obligation or right to
~ - 5 -
OR ~
eaax~~7 ~
.
y
~~>'",~~"s' .,±s-~,- _ . . .
-+.f r '-x
Z "z~~i~;~7~- €afr~-. "~ti~ ~
- x.`,_<.