Common use of Acknowledgement of Assignment Clause in Contracts

Acknowledgement of Assignment. The Administrative Agent ----------------------------- shall have received from Omnipoint Services a written statement to it in which Omnipoint Services (a) consents to the assignment by the Operating Subsidiary party to the Services Agreement of all of its right, title and interest in and to the Services Agreement (including, without limitation, the right to receive any monies due thereunder) to the Collateral Agent pursuant to the Collateral Documents, (b) agrees not to cancel or terminate the Services Agreement except upon at least 90 days written notice to the Administrative Agent and (c) agrees that the Administrative Agent or the Collateral Agent shall be entitled to make any payment or otherwise perform any obligation or cure any default of the Borrower or any of its Subsidiaries under the Services Agreement.

Appears in 2 contracts

Samples: Loan Agreement (Omnipoint Corp \De\), Loan Agreement (Omnipoint Corp \De\)

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Acknowledgement of Assignment. The Administrative Agent ----------------------------- shall have received from Omnipoint Services a written statement to it in which Omnipoint Services (a) consents to the assignment by the Operating Subsidiary party to the Services Agreement of all of its right, title and interest in and to the Services Agreement (including, without limitation, the right to receive any monies due thereunder) to the Collateral Agent pursuant to the Collateral Documents, (b) agrees not to cancel or terminate the Services Agreement except upon at least 90 days written notice to the Administrative Agent and (c) agrees that the Administrative Agent or the Collateral Agent shall be entitled to make any payment or otherwise perform any obligation or cure any default of the Borrower or any of its Restricted Subsidiaries under the Services Agreement.

Appears in 1 contract

Samples: Loan Agreement (Omnipoint Corp \De\)

Acknowledgement of Assignment. The Administrative Agent ----------------------------- shall have received from Omnipoint Services a written statement to it in which Omnipoint Services (a) consents to the assignment by the Operating Subsidiary 119 party to the Services Agreement of all of its right, title and interest in and to the Services Agreement (including, without limitation, the right to receive any monies due thereunder) to the Collateral Agent pursuant to the Collateral Documents, (b) agrees not to cancel or terminate the Services Agreement except upon at least 90 ***** days written notice to the Administrative Agent and (c) agrees that the Administrative Agent or the Collateral Agent shall be entitled to make any payment or otherwise perform any obligation or cure any default of the Borrower or any of its Subsidiaries under the Services Agreement.

Appears in 1 contract

Samples: Loan Agreement (Omnipoint Corp \De\)

Acknowledgement of Assignment. The Administrative Agent ----------------------------- shall have received from Omnipoint Services a written statement to it in which Omnipoint Services (a) consents to the assignment by the Operating Subsidiary party to the Services Agreement of all of its right, title and interest in and to the Services Agreement (including, without limitation, the right to receive any monies due thereunder) to the Collateral Agent pursuant to the Collateral Documents, (b) agrees not to cancel or terminate the Services Agreement except upon at least 90 [*] days written notice to the Administrative Agent and (c) agrees that the Administrative Agent or the Collateral Agent shall be entitled to make any payment or otherwise perform any obligation or cure any default of the Borrower or any of its Restricted Subsidiaries under the Services Agreement.

Appears in 1 contract

Samples: Loan Agreement (Omnipoint Corp \De\)

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Acknowledgement of Assignment. The Administrative Agent ----------------------------- shall have received from Omnipoint Services a written statement to it in which Omnipoint Services (a) consents to the assignment by the Operating Subsidiary party to the Services Agreement of all of its right, title and interest in and to the Services Agreement (including, without limitation, the right to receive any monies due thereunder) to the Collateral Agent pursuant to the Collateral Documents, (b) agrees not to cancel or terminate the Services Agreement except upon at least 90 [*] days written notice to the Administrative Agent and (c) agrees that the Administrative Agent or the Collateral Agent shall be entitled to make any payment or otherwise perform any obligation or cure any default of the Borrower or any of its Subsidiaries under the Services Agreement.

Appears in 1 contract

Samples: Loan Agreement (Omnipoint Corp \De\)

Acknowledgement of Assignment. The Administrative Agent ----------------------------- shall have received from Omnipoint Services a written statement to it in which Omnipoint Services (a) consents to the assignment by the Operating Subsidiary 119 party to the Services Agreement of all of its right, title and interest in and to the Services Agreement (including, without limitation, the right to receive any monies due thereunder) to the Collateral Agent pursuant to the Collateral Documents, (b) agrees not to cancel or terminate the Services Agreement except upon at least 90 days written notice to the Administrative Agent and (c) agrees that the Administrative Agent or the Collateral Agent shall be entitled to make any payment or otherwise perform any obligation or cure any default of the Borrower or any of its Subsidiaries under the Services Agreement.

Appears in 1 contract

Samples: Loan Agreement (Omnipoint Corp \De\)

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