Common use of Assignment by Project Co Clause in Contracts

Assignment by Project Co. Subject to the prior assignment as security pursuant to the Financing, Project Co hereby assigns all of its right, title and interest in the Construction Contract to Hospital save and except the obligation to pay the Base Progress Payments, (the “Retained Payment Obligation”) which obligation Project Co specifically retains and Project Co agrees with Hospital and Contractor to pay the Base Progress Payments in accordance with and subject to the applicable provisions of the Construction Contract, including, without limitation, the provisions of Article A-7 - PAYMENT and PART 5 – PAYMENT therein, including any provision of the Construction Contract pursuant to which a Retained Payment Obligation may be subject to holdback.

Appears in 10 contracts

Samples: Project Agreement, Project Agreement, Project Agreement

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Assignment by Project Co. Subject to the prior assignment as security pursuant to the Financing, Project Co hereby assigns all of its right, title and interest in the Construction Contract to Hospital save and except the obligation to pay the Base Progress Payments, Payments (the “Retained Payment Obligation”) which obligation Project Co specifically retains and Project Co agrees with Hospital and Contractor to pay the Base Progress Payments in accordance with and subject to the applicable provisions of the Construction Contract, including, without limitation, the provisions of Article A-7 - PAYMENT and PART 5 – PAYMENT of the Construction Contract therein, including any provision of the Construction Contract pursuant to which a Retained Payment Obligation may be subject to holdback.

Appears in 2 contracts

Samples: Project Agreement, Limited Assignment of Construction Contract

Assignment by Project Co. Subject to the any prior assignment as security pursuant to the Financing, Project Co hereby assigns all of its right, title and interest in the Construction Contract to Hospital save and except the obligation to pay the Base Progress Payments, (the “Retained Payment Obligation”) which obligation Project Co specifically retains and Project Co agrees with Hospital and Contractor to pay the Base Progress Payments in accordance with and subject to the applicable provisions of the Construction Contract, including, without limitation, the provisions of Article A-7 - PAYMENT – PAYMENTS and PART 5 – PAYMENT of the Construction Contract therein, including any provision of the Construction Contract pursuant to which a Retained Payment Obligation may be subject to holdback.

Appears in 2 contracts

Samples: Limited Assignment of Construction Contract, Project Agreement

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Assignment by Project Co. Subject to the prior assignment as security pursuant to the Financing, Project Co hereby assigns all of its right, title and interest in the Construction Contract to Hospital save and except the obligation to pay the Base Progress Payments, (the “Retained Payment Obligation”) which obligation Project Co specifically retains and Project Co agrees with Hospital and Contractor to pay the Base Progress Payments in accordance with and subject to the applicable provisions of the Construction Contract, including, without limitation, the provisions of Article A-7 - PAYMENT and PART 5 – PAYMENT therein, including any provision of the Construction Contract pursuant to which a Retained Payment Obligation may be subject to holdback.

Appears in 1 contract

Samples: Project Agreement

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