An assignment used in commercial real estate loan transactions in which the borrower grants the lender a present assignment of a property's leases and rents. This Standard Document is jurisdiction-neutral and must be customized to be recordable and enforceable in the governing jurisdiction. This Standard Document compares absolute and collateral lease assignments and discusses such issues as governing law, enforceability, and the borrower's revocable license to collect rent. This Standard Document has integrated notes with important explanations and drafting and negotiation tips for all relevant parties.