Assignment and Payment Sample Clauses
The 'Assignment and Payment' clause governs the transfer of contractual rights or obligations from one party to another and outlines the procedures for making payments under the agreement. Typically, it specifies whether a party can assign its rights or delegate its duties to a third party, and under what conditions such assignments are permitted, such as requiring prior written consent. Additionally, it details how and when payments should be made, including acceptable methods and timelines. This clause ensures that both parties understand the rules regarding changes in contract parties and payment logistics, thereby preventing unauthorized transfers and payment disputes.
Assignment and Payment. 29 3. Consideration....................................... 30 4.
Assignment and Payment. As further security for the payment of all Secured Indebtedness and to facilitate the discharge of all such indebtedness and as cumulative of any and all rights herein provided for, Grantor hereby warrants, bargains, conveys, sells, transfers, assigns, sets over and delivers unto Lender, and Lender's successors and assigns, all of Grantor's net cash flow derived from the Deed of Trust Properties ("Net Cash Flow") including, but not limited to, revenues, throughput charges and other sources of income (collectively, "Proceeds") arising or resulting from Grantor's sale or transportation of natural gas, coal bed methane gas and other hydrocarbons pursuant to the Contracts and in the context of the River Crossing Project, and all Proceeds derived therefrom and all accounts and contract rights of Grantor under which such Proceeds may arise; and, it is the intention of the parties that such assignment of Net Cash Flow shall be a present assignment. As used herein, the term "Net Cash Flow" shall mean gross Proceeds derived by Grantor with respect to the Deed of Trust Properties, less and except (i) the actual costs incurred and paid by Grantor of operating, maintaining and (if approved by Lender as contemplated in Section 2.02(k) above) improving the Deed of Trust Properties (but excluding any cost or expense payable by Grantor to parties affiliated with Grantor if Grantor's agreement or arrangement with its affiliate was not pre-approved by Lender, or, if pre-approved by Lender, such cost or expense exceeds rates or charges usual and customary in arm's-length transactions of similar type and character), (ii) the actual costs incurred and paid by Grantor in the purchase of any natural gas, coal bed methane gas or other hydrocarbons to be transported through the Facilities, and (iii) Grantor's internal general and administrative expenses not to exceed $1,000 per month. Notwithstanding the present nature of this assignment, Grantor shall be entitled to receive all Net Cash Flow until the Grantor receives a valid written notice from Lender ("Lender's Notice") of a Default, as defined in Section 6.01.
Assignment and Payment. The Authority shall assign the Available Water based upon Customer request and written confirmation by their governing body of the corresponding payment obligations under this Contract. Customers may request Available Water from the Redistribution Pool for the corresponding time frame of their need for additional water. If there is more demand for water than there is Available Water in a given year, the Authority shall distribute the water on pro-rata basis based on the proportionate Customer demand in the New Water Supply Demands for the year at issue.
Assignment and Payment