A statutory notice delivered by a lender to a commercial property tenant whose landlord has defaulted on its commercial real estate loan or has otherwise agreed to assign its rents. Under the Texas Assignment of Rents Act, the lender of a defaulted loan may direct the tenant to pay its rent directly to the lender. The notice informs the tenant of its obligation to pay rent to the lender and explains how and to which party future rent should be paid. This Standard Document has integrated notes with important drafting tips for the lender and explanations for all the parties.