Common use of Additional Remedy for Failure to Assign Payments as Requested Clause in Contracts

Additional Remedy for Failure to Assign Payments as Requested. The Borrower acknowledges that the Bank will be irreparably harmed if the Borrower fails, after request by the Bank, to promptly assign payments due or to become due under any Eligible Receivables when required by the Bank, pursuant to this Agreement, and that the Bank shall have no adequate remedy at law. Therefore, the Borrower agrees that the Bank shall be entitled to the following remedies, in addition to all other remedies allowed by law or under this Agreement: (a) an injunction compelling the Borrower’s compliance with the provisions of this Agreement requiring the Borrower to assign payments due or to become due under any Eligible Receivables; (b) the appointment of a receiver, with instructions that the receiver shall comply, in the Borrower’s name and on its behalf, with the provisions of this Agreement requiring the Borrower to assign payments due or to become due under any Eligible Receivables; and (c) such other or further equitable relief as may be necessary or desirable to secure to the Bank the benefits of the rights of an assignee under the Assignment of Claims Act (Title 31 Section 3727 and Title 00 Xxxxxxx 00 xx xxx Xxxxxx Xxxxxx Code).

Additional Remedy for Failure to Assign Payments as Requested. The Borrower acknowledges that the Bank will be irreparably harmed if the Borrower fails, after written request by the Bank, to promptly assign payments due or to become due under any Eligible Receivables government contracts when required by the Bank, pursuant to this Agreement, and that the Bank shall have no adequate remedy at law. Therefore, the Borrower agrees that the Bank shall be entitled to the following remedies, in addition to all other remedies allowed by law or under this Agreement: (a) an injunction compelling the Borrower’s compliance with the provisions of this Agreement requiring the Borrower to assign payments due or to become due under any Eligible Receivablesgovernment contracts; (b) the appointment of a receiver, with instructions that the receiver shall comply, in the Borrower’s name and on its behalf, with the provisions of this Agreement requiring the Borrower to assign payments due or to become due under any Eligible Receivablesgovernment contracts; and (c) such other or further equitable relief as may be necessary or desirable to secure to the Bank the benefits of the rights of an assignee under the Assignment of Claims Act (Title 31 Section 3727 and Title 00 40 Xxxxxxx 00 xx xxx Xxxxxx Xxxxxx Code).

Additional Remedy for Failure to Assign Payments as Requested. The Borrower acknowledges that the Bank Lender will be irreparably harmed if the Borrower fails, after request by the BankLender, to promptly assign payments due or to become due under any Eligible Receivables when required by the BankLender, pursuant to this Agreement, and that the Bank Lender shall have no adequate remedy at law. Therefore, the Borrower agrees that the Bank Lender shall be entitled to the following remedies, in addition to all other remedies allowed by law or under this Agreement:. (a) an injunction compelling the Borrower’s 's compliance with the provisions of this Agreement requiring the Borrower to assign payments due or to become due under any Eligible Receivables; (b) the appointment of a receiver, with instructions that the receiver shall comply, in the Borrower’s 's name and on its behalf, with the provisions of this Agreement requiring the Borrower to assign payments due or to become due under any Eligible Receivables; and (c) such other or further equitable relief as may be necessary or desirable to secure to the Bank Lender the benefits of the rights of an assignee under the Assignment of Claims Act (Title 31 Section 3727 and Title 00 Xxxxxxx 00 xx xxx Xxxxxx Xxxxxx 41 Section 15 of the United States Code).