General Assignment Of Rents Definition Of Integrity

Q: What is the difference between a general assignment of rents and leases and a specific assignment of rents and leases, and when should I include them in my term sheet for a commercial real estate financing of an Ontario property?

A: In situations where a borrower owns real property in Ontario that either is or will be leased to third party tenants, a lender should consider obtaining either a general assignment of rents and leases or a specific assignment of rents and leases in addition to a mortgage on the secured property. Like a mortgage, an assignment of rents and leases should be registered against title to the subject property, and in addition, should be registered under the applicable personal property security legislation as the rents and leases that are being secured by the assignment fall within the definition of personal property under that legislation. [1]

An assignment of rents and leases, be it a general assignment of rents and leases or a specific assignment of rents and leases, provides a lender with two principal benefits which may be realized by the lender after an event of default:

  1. it permits the lender to receive the rent payments that the borrower/landlord would otherwise be entitled to, and this revenue stream from the tenants is a significant asset that should be secured; and,
  2. it permits the lender to step into the shoes of the borrower/landlord and exercise all of the rights and remedies available to the landlord to ensure that the full benefit and value of the lease is realized by the lender, which includes for example, the right to demand payment in the event of non-payment of rent by a tenant and to assign the lease to a purchaser in the event of a power of sale proceeding.

The only difference between a general assignment of rents and leases and a specific assignment of rents and leases is the revenue streams and leases to which they apply. A general assignment of rents and leases applies to all present and future rental income and leases in respect of a particular property. Once in place, a general assignment of rents and leases gives the lender a right to the rental income and the ability to exercise all of the rights of the landlord under a lease in respect of all leases of the property, including but not limited to any new leases, subleases or assignments of lease entered into after the assignment is granted and registered. In contrast to this, a specific assignment of rents and leases only applies to leases which are specifically listed in the document. In the event that any of the specifically listed leases expire or are terminated, and/or a new lease or sublease is put in place, the specific assignment of leases will not apply to this new lease or sublease and the lender will have no right to the rental income or rights resulting from the new lease or sublease.

In most lending situations, the lender will prefer a general assignment of rents and leases as it provides the most comprehensive security. The lender will have security over all rental income, and be able to exercise the rights of the landlord, regardless of who the tenants are in the future, or what leases the borrower has in place at the time of default under the terms of the loan or credit facility. However, where there is a principal or anchor tenant that represents a preponderance of the rental income, and/or the borrower objects to a general assignment of rents and leases securing all rents and leases as too broad a security interest, the lender may only be interested in securing the rental income and landlord rights associated with a specific principal or anchor lease, or a particular group of leases. In such a situation, a specific assignment of rents and leases may be a reasonable compromise position for a lender to adopt. Alternatively, in situations where multiple lenders are taking security in a particular parcel of real property, specific assignments of rents and leases allow the various lenders to divide the rental income and leases among themselves, with each lender only obtaining security in a specifically agreed upon lease or group of leases.

The above is a general overview of general and specific assignments of rents and leases.

Academic Dishonesty

According to the Student Code of Conduct, Section 4.2,  academic dishonesty includes, but is not limited to, the following:

  1. Cheating. Copying or attempting to copy from an academic test or examination of another student; using or attempting to use unauthorized materials, information, notes, study aids or other devices for an academic test, examination or exercise; engaging or attempting to engage the assistance of another individual in misrepresenting the academic performance of a student; or communicating information in an unauthorized manner to another person for an academic test, examination or exercise.
  2. Fabrication or Falsification. Falsifying or fabricating any information or citation in any academic exercise, work, speech, test or examination. Falsification is the alteration of information, while fabrication is the invention or counterfeiting of information.
  3. Plagiarism. Presenting the work of another as one's own (i.e., without proper acknowledgment of the source) and submitting examinations, theses, reports, speeches, drawings, laboratory notes or other academic work in whole or in part as one's own when such work has been prepared by another person or copied from another person.
  4. Abuse of Academic Materials. Destroying, defacing, stealing, or making inaccessible library or other academic resource material.
  5. Complicity in Academic Dishonesty. Helping or attempting to help another student to commit an act of academic dishonesty.
  6. Falsifying Grade Reports. Changing or destroying grades, scores or markings on an examination or in an instructor's records.
  7. Misrepresentation to Avoid Academic Work. Misrepresentation by fabricating an otherwise justifiable excuse such as illness, injury, accident, etc., in order to avoid or delay timely submission of academic work or to avoid or delay the taking of a test or examination.
  8. Other. Academic units and members of the faculty may prescribe and give students prior notice of additional standards of conduct for academic honesty in a particular course, and violation of any such standard of conduct shall constitute misconduct under this Code of Conduct and the University Disciplinary Procedures.

Unless specifically prohibited by the instructor, it is acceptable to discuss the meaning of assignments. Discussing general approaches and strategies for solutions may be permissible, but unless specifically allowed, such communications should not include written material or code and should not transmit substantive or specific elements of a solution. In particular, shared flowcharts, pseudocode, code, or documentation are not allowed unless specifically permitted by the instructor.
Any cooperation beyond discussing general approaches and general strategies, including shared pseudocode or flowcharts, shared code, or shared documentation, is not allowed unless specifically permitted by the instructor.

Courses involving computer programming require special consideration because use of the computer permits easy copying and trivial modification of programs. The following guidelines are provided to help in determining whether an incident of academic dishonesty has occurred.

  • The instructor may suspect students of program plagiarism if they submit a program that is so similar to the program submitted by a present or past student in the course that one solution may be converted to the other by a simple mechanical transformation.
  • The instructor may suspect students of cheating, whether on a program or an examination, if they cannot explain both the intricacies of their solution and the techniques and principles used to generate that solution.
  • In a collaborative team assignment, the instructor may suspect a student of failure to adequately complete that  assignment if observation or questioning leads the instructor to believe the student has not shouldered an equitable portion of the burden in the assignment.

All CSE students, teachers, and staff share in upholding high standards for academic honor and integrity. Consistent with this responsibility, the CSE Department standard of conduct requires all CSE students, teachers, and staff to report any and all information regarding academic dishonesty to the CSE Department Chair.

The following lists are not intended to be exhaustive.

You are not acting dishonestly if you

  • discuss generally class notes, handouts, practice problems and text material with other students;
  • have permission to collaborate with other students on a project, and you list all collaborators;
  • receive appropriate advice from instructors, teaching assistants, or staff members involved in the course;
  • appropriately share knowledge with other students about syntax errors, coding tricks, or other language-specific information that makes programming easier;
  • appropriately engage, with other students, in a general discussion of the nature of an assignment, the requirements for an assignment, or general implementation strategies, so long as no one is using a writing implement (computers included) or looking at any code (with the possible exception of helping another student debug their code, if this is permitted by the instructor);
  • appropriately engage, with other students, in discussion of course concepts or programming strategies in preparation for an assignment or examination;
  • copy code and cite its source on assignments for which the instructor allows inclusion of code other than your own.

You are acting dishonestly if, unless specifically authorized by the instructor, you

  • turn in the work of any other person(s) (former students, friends, textbook authors, people on the Internet, etc.) and represent it as your own work;
  • knowingly permit another person to turn in your work as his or her own work;
  • copy material (code, documentation, etc.) from the work of another student;
  • deliberately transform borrowed sections of code or other material in order to disguise its origin;
  • fabricate compilation or execution results, represent a program that did not compile properly as one that did, or one that did not execute properly as one that did;
  • collaborate with other persons on a project and fail to inform the instructor of this;
  • steal or obtain examinations, answer keys, or program samples from the instructors' files or computer directories;
  • use unauthorized materials during an open-book or closed-book examination, or communicate during an examination in an unauthorized way with another person;
  • modify or delete another student's or an instructor's computer files;
  • leave your work in an insecure area (unprotected file, open trash barrel, lab desk, recycle bin) where other students may easily access it;
  • do not report information regarding academic dishonesty.

According to Section 4.2 b of the Student Code of Conduct, In cases where an instructor finds that a student has committed any act of academic dishonesty, the instructor may in the exercise of his or her professional judgment impose an academic sanction as severe as giving the student a failing grade in the course. Before imposing an academic sanction the instructor shall first attempt to discuss the matter with the student. If deemed necessary by either the instructor or the student, the matter may be brought to the attention of the student's major adviser, the instructor's department chairperson or head, or the dean of the college in which the student is enrolled. When academic sanction is imposed which causes a student to receive a lowered course grade, the instructor shall make a report in writing of the facts of the case and the academic sanction imposed against the student to the instructor's department chairperson or head and to the Judicial Officer. The student shall be provided with a copy of this report. Further, the instructor may recommend the institution of disciplinary proceedings against the student for violation of this Code, if the instructor in the exercise of his or her professional judgment believes that such action is warranted. In addition to academic sanctions, one or more of the following disciplinary sanctions may be imposed: warning, restitution, probation, behavioral requirement, suspension, or expulsion, as outlined in Section 5 of the Student Code of Conduct for more information about disciplinary actions.

It is CSE Department policy that all information regarding academic dishonesty shall be reported to the CSE Department Chair. The CSE Department Chair is to communicate these reports to the appropriate CSE Department Committee (the Academic Integrity and Grading Committee for undergraduate students, the CSE Graduate Committee for graduate students, and the CSE Faculty Advisory Committee for instructors and staff) for investigation and consideration of all related matters and of additional sanctions. Such sanctions may range from a reduced grade (including failure in the course) to expulsion from the department or university.

Students who believe they are not guilty of academic dishonesty or believe that the academic sanction imposed by the course instructor is too severe, may appeal to the chair of the Department of Computer Science and Engineering.   The chair may turn the matter over to an appropriate committee (the Undergraduate Advising Committee, the Graduate Committee, or an ad hoc committee). The committee will meet with the student and the instructor, review the evidence, and make a recommendation to the instructor regarding the incident.  The instructor will review the recommendation, and may or may not amend the original decision.  If the student is not satisfied with the outcome of the appeal within the department, he is free to appeal at the university level as permitted in Section 4.2.c and d of the Student Code of Conduct : c. In cases where an instructor's finding of academic dishonesty is admitted by the student and an academic sanction is imposed by the instructor which the student believes to be too severe, the student shall have the right to appeal the severity of the academic sanction through the applicable grade appeal procedure.
d. In cases where an instructor's finding of academic dishonesty is disputed by the student, the matter shall be referred to the Judicial Officer for disposition in accordance with the University Disciplinary Procedures. Any academic sanction imposed by the instructor shall be held in abeyance pending a final decision of guilt or innocence under the University Disciplinary Procedures. If it is determined through these procedures that the student is not guilty of academic dishonesty, the instructor's academic sanction shall be set aside. If it is determined that the student is guilty of academic dishonesty, the instructor's academic sanction shall be imposed in addition to any disciplinary sanction which may be imposed under the University Disciplinary Procedures, subject to the student's right to appeal the severity of the academic sanction through the applicable grade appeal procedure.

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