Common use of Acknowledgment of Collateral Assignment Clause in Contracts

Acknowledgment of Collateral Assignment. In the event that Provider identifies a secured Financing Party in Schedule 5 of the Special Conditions, or in a subsequent notice to Purchaser, then Purchaser hereby: (a) acknowledges the collateral assignment by Provider to the Financing Party, of Provider’s right, title and interest in, to and under the Agreement, as consented to under Section 13.1 of the Agreement. (b) acknowledges that the Financing Party as such collateral assignee shall be entitled to exercise any and all rights of lenders generally with respect to the Provider’s interests in this Agreement. (c) acknowledges that it has been advised that Provider has granted a first priority perfected security interest in the System to the Financing Party and that the Financing Party has relied upon the characterization of the System as personal property, as agreed in this Agreement in accepting such security interest as collateral for its financing of the System. Any Financing Party shall be an intended third- party beneficiary of this Section 13.2.

Appears in 9 contracts

Samples: Solar Power & Services Agreement, Power Purchase Agreement, Power Purchase Agreement

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Acknowledgment of Collateral Assignment. In the event that Provider identifies a secured Financing Party in Schedule 5 of the Special Conditions5, or in a subsequent notice to Purchaser, then Purchaser hereby: : (a) acknowledges the collateral assignment by Provider to the Financing Party, of Provider’s right, title and interest in, to and under the Agreement, as consented to under Section 13.1 of the Agreement. ; (b) acknowledges that the Financing Party as such collateral assignee shall be entitled to exercise any and all rights of lenders generally with respect to the Provider’s interests in this Agreement. Agreement within the timeframes specified herein with respect to Provider; (c) acknowledges that it has been advised that Provider has granted a first priority perfected security interest in the System to the Financing Party and that the Financing Party has relied upon the characterization of the System as personal property, as agreed in this Agreement in accepting such security interest as collateral for its financing of the System. Any Financing Party shall be an intended third- third party beneficiary of this Section 13.2.

Appears in 4 contracts

Samples: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement

Acknowledgment of Collateral Assignment. In the event that Provider identifies a secured Financing Party in Schedule 5 of the Special Conditions, or in a subsequent notice to Purchaser, then Purchaser herebyhereby acknowledges: (a) acknowledges the The collateral assignment by Provider to the Financing Party, of Provider’s right, title and interest in, to and under the this Agreement, as consented to under Section 13.1 of the this Agreement. (b) acknowledges that That the Financing Party as such collateral assignee shall be entitled to exercise any and all rights of lenders generally with respect to the Provider’s interests in this Agreement. (c) acknowledges that That it has been advised that Provider has granted a first priority perfected security interest in the System to the Financing Party and that the Financing Party has relied upon the characterization of the System as personal property, as agreed in this Agreement in accepting such security interest as collateral for its financing of the System. Any Financing Party shall be an intended third- party beneficiary of this Section 13.2.

Appears in 3 contracts

Samples: Energy Services Agreement, Energy Services Agreement, Energy Services Agreement

Acknowledgment of Collateral Assignment. In the event that Provider Operator identifies a secured Financing Party in Schedule 5 of the applicable Special Conditions, or in a subsequent notice to PurchaserSubscriber, then Purchaser Subscriber hereby: (a) acknowledges and agrees to the collateral assignment by Provider Operator to the Financing Party, of ProviderOperator’s right, title and interest in, to and under the Agreement, as consented to under Section 13.1 of the Agreement. (b) acknowledges and agrees that the Financing Party as such collateral assignee shall be entitled to exercise any and all rights of lenders generally with respect to the ProviderOperator’s interests in this Agreement. (c) acknowledges and agrees that it has been advised that Provider Operator has granted a first priority perfected security interest in the System to the Financing Party and that the Financing Party has relied upon the characterization of the System as personal property, as agreed in this Agreement in accepting such security interest as collateral for its financing of the System. Any Financing Party shall be an intended third- third-party beneficiary of this Section 13.2.

Appears in 2 contracts

Samples: Minnesota Community Solar Garden Subscription Agreement, Membership Interest Purchase and Sale Agreement

Acknowledgment of Collateral Assignment. In the event that Provider Seller identifies a secured Financing Party in Schedule 5 of the Special Conditions, or in a subsequent written notice to PurchaserBuyer, then Purchaser Buyer hereby: (a) acknowledges Acknowledges the collateral assignment by Provider Seller to the Financing Party, of ProviderSeller’s right, title and interest in, to and under the Agreement, as consented to under Section 13.1 of the Agreement. (b) acknowledges Acknowledges that the Financing Party as such collateral assignee shall be entitled to exercise any and all rights of lenders Lenders generally with respect to the ProviderSeller’s interests in this Agreement. (c) acknowledges Acknowledges that it has been advised that Provider Seller has granted a first priority perfected security interest in the System Generating Facility to the Financing Party and that the Financing Party has relied upon the characterization of the System Generating Facility as personal property, as agreed in this Agreement in accepting such security interest as collateral for its financing of the SystemGenerating Facility. Any Financing Party shall be an intended third- third party beneficiary of this Section 13.2.

Appears in 2 contracts

Samples: Power Purchase Agreement, Power Purchase Agreement

Acknowledgment of Collateral Assignment. In the event that Provider ForeFront Power identifies a secured Financing Party in Schedule 5 of the Special Conditions, or in a subsequent notice to Purchaser, then Purchaser herebyhereby acknowledges: (a) acknowledges the The collateral assignment by Provider ForeFront Power to the Financing Party, of ProviderForeFront Power’s right, title and interest in, to and under the Agreement, as consented to under Section 13.1 14.1 of the Agreement. (b) acknowledges that That the Financing Party as such collateral assignee shall be entitled to exercise any and all rights of lenders generally with respect to the ProviderForeFront Power’s interests in this Agreement. (c) acknowledges that That it has been advised that Provider ForeFront Power has granted a first priority perfected security interest Security Interest in the System to the Financing Party and that the Financing Party has relied upon the characterization of the System as personal property, as agreed in this Agreement in accepting such security interest as collateral for its financing of the System. Any Financing Party shall be an intended third- party beneficiary of this Section 13.214.2.

Appears in 1 contract

Samples: Energy Services Agreement

Acknowledgment of Collateral Assignment. In the event that a Provider identifies a secured Financing Party in Schedule 5 of the Special Conditions, or in a subsequent notice to PurchaserOff-Taker, then Purchaser Off-Taker hereby: (a) acknowledges the collateral assignment by such Provider to the Financing Party, of such Provider’s right, title and interest in, to and under the Agreement, as consented to under Section 13.1 11.1 of the Agreement.; (b) acknowledges that the Financing Party as such collateral assignee shall be entitled to exercise any and all rights of lenders generally with respect to the such Provider’s interests in this Agreement but not in derogation of any right of Off-Taker under this Agreement.; and (c) acknowledges that it has been advised that such Provider has granted a first priority perfected security interest in the System System(s) to the Financing Party and that the Financing Party has relied upon the characterization of the System as personal property, as agreed in this Agreement in accepting such security interest as collateral for its financing of the Systemfinancing. Any Financing Party shall be an intended third- third-party beneficiary of this Section 13.211.2.

Appears in 1 contract

Samples: Master Memorandum of Understanding

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Acknowledgment of Collateral Assignment. In the event that Provider identifies a secured Financing Party in Schedule 5 of the Special Conditions, or in a subsequent notice to Purchaser, then Purchaser herebyhereby acknowledges: (a) acknowledges the The collateral assignment by Provider to the Financing Party, of Provider’s right, title and interest in, to and under the this Agreement, as consented to under Section 13.1 of the this Agreement. (b) acknowledges that That the Financing Party as such collateral assignee shall be entitled to exercise any and all rights of lenders generally with respect to the Provider’s interests in this Agreement. (c) acknowledges that That it has been advised that Provider has granted a first priority perfected security interest in the System to the Financing Party and that the Financing Party has relied upon the characterization of the System as personal property, as agreed in this Agreement in accepting such security interest as collateral for its financing of the System. Any Financing Party shall be an intended third- party beneficiary of this Section 13.2. Further, Purchaser shall, upon the request of Provider or any Financing Party, provide a signed acknowledgment and confirmation for the benefit of the Financing Party, substantially in the form as Provider or the Financing Party may reasonably request.

Appears in 1 contract

Samples: Energy Services Agreement

Acknowledgment of Collateral Assignment. In the event that Provider identifies a secured Financing Party in [exhibit dealing with notice addresses],Exhibit C- Schedule 5 of the Special Conditions9, or in a subsequent notice to Purchaser, then Purchaser hereby: (a) acknowledges the collateral assignment by Provider to the Financing Party, of Provider’s right, title and interest in, to and under the Agreement, as consented to under Section 13.1 of the Agreement. (b) acknowledges that the Financing Party as such collateral assignee shall be entitled to exercise any and all rights of lenders generally with respect to the Provider’s interests in this Agreement. (c) acknowledges that it has been advised that Provider has granted a first priority perfected security interest in the System to the Financing Party and that the Financing Party has relied upon the characterization of the System as personal property, as agreed in this Agreement in accepting such security interest as collateral for its financing of the System. Any Financing Party shall be an intended third- party beneficiary of this Section 13.2Section13.2.

Appears in 1 contract

Samples: Solar Power & Services Agreement

Acknowledgment of Collateral Assignment. In the event that Provider ForeFront Power identifies a secured Financing Party in Schedule 5 of the Special Conditions, or in a subsequent notice to Purchaser, then Purchaser herebyhereby acknowledges: (a) acknowledges the The collateral assignment by Provider ForeFront Power to the Financing Party, of ProviderForeFront Power’s right, title and interest in, to and under the Agreement, as consented to under Section 13.1 of the Agreementthese General Terms and Conditions. (b) acknowledges that That the Financing Party as such collateral assignee shall be entitled to exercise any and all rights of lenders generally with respect to the ProviderForeFront Power’s interests in this Agreement. (c) acknowledges that That it has been advised that Provider ForeFront Power has granted a first priority perfected security interest in the System to the Financing Party and that the Financing Party has relied upon the characterization of the System as personal property, as agreed in this Agreement in accepting such security interest as collateral for its financing of the System. Any Financing Party shall be an intended third- party beneficiary of this Section 13.2.

Appears in 1 contract

Samples: Energy Services Agreement

Acknowledgment of Collateral Assignment. In the event that Provider identifies a secured Financing Party in Schedule 5 of the Special Conditions, or in a subsequent notice to Purchaser, then Purchaser hereby: (a) acknowledges the collateral assignment by Provider to the Financing Party, of Provider’s right, title and interest in, to and under the Agreement, as consented to under Section 13.1 of the Agreement. (b) acknowledges that the Financing Party as such collateral assignee shall be entitled to exercise any and all rights of lenders generally with respect to the Provider’s interests in this Agreement. (c) acknowledges that it has been advised that Provider has granted a first priority perfected security interest in the System to the Financing Party and that the Financing Party has relied upon the characterization of the System as personal property, as agreed in this Agreement in accepting such security interest as collateral for its financing of the System. Any Financing Party shall be an intended third- party beneficiary of this Section 13.2Section13.2.

Appears in 1 contract

Samples: Memorandum of Understanding

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