Common use of Acknowledgment of Collateral Assignment Clause in Contracts

Acknowledgment of Collateral Assignment. If Operator identifies a secured Financing Party and Subscriber consents to the collateral assignment under Section 12.1, then Subscriber acknowledges and agrees: (a) to the collateral assignment by Operator to the Financing Party, of Operator’s right, title and interest in, to and under the Agreement, as consented to under Section 12.1 of the Agreement. (b) that the Financing Party as such collateral assignee is entitled to exercise any and all rights of lenders generally with respect to Operator’s interests in this Agreement. Any Financing Party is an intended third-party beneficiary of this Section 12.2.

Appears in 1 contract

Samples: Community Solar Garden Subscription Agreement

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