Acknowledgment of Collateral Assignment. In the event that Provider identifies a secured Financing Party in Schedule 5, 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 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 party beneficiary of this Section 13.2.
Appears in 4 contracts
Samples: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement
