ASSIGNMENT FOR SECURITY PURPOSES. 5.1 The Issuer hereby assigns to the Security Trustee for security purposes (Sicherungsabtretung) all its claims and other rights arising from the German Transaction Documents (with the exception of claims and other rights arising from this Agreement, but including the rights to unilaterally alter a legal relationship (unselbständige Gestaltungsrechte)) and from all present and future German law contracts the Issuer has entered into or may enter into in connection with the Notes, the Subordinated Loan, the Swap Agreements or the Receivables. The Security Trustee hereby accepts such assignments.
5.2 The assignments for security purposes pursuant to clause 5.1 are subject to the condition precedent that the German Transaction Documents (for the avoidance of doubt excluding this Agreement) are signed.
5.3 If an express or implied current account relationship exists or is later established between the Issuer and a third party, the Issuer hereby assigns to the Security Trustee - without prejudice to the generality of the provisions in clause 5.1 - the right to receive a periodic account statement and the right to payment of present or future balances (including a final net balance determined upon the institution of any insolvency proceedings according to the Applicable Insolvency Law regarding the estate of Driver UK Multi-Compartment S.A.), as well as the right to terminate the current account relationship and to the determination and payment of the closing net balance upon termination.
ASSIGNMENT FOR SECURITY PURPOSES. 5.1 The Issuer hereby assigns to the Security Trustee for security purposes (Sicherungsabtretung) all its claims and other rights arising from the German Transaction Documents (with the exception of claims and other rights arising from this Agreement, but including the rights to unilaterally alter a legal relationship (unselbständige Gestaltungsrechte)) and from all present and future German law contracts the Issuer has entered or may enter into in connection with the Notes, the Subordinated Loan, the Swap Agreements, or the Receivables. The Security Trustee hereby accepts such assignments.
5.2 The assignments for security purposes pursuant to clause 5.1 are subject to the condition precedent that the German Transaction Documents (for the avoidance of doubt excluding this Agreement) are signed.
5.3 If an express or implied current account relationship (Kontokorrent) exists or is later established between the Issuer and a third party as a matter of German law, the Issuer hereby assigns to the Security Trustee - without prejudice to the generality of the provisions in clause 5.1 - the right to receive a periodic account statement (Saldenziehung) and the right to payment of present or future balances (including a final net balance determined upon the institution of any insolvency proceedings according to the Applicable Insolvency Law regarding the estate of the Issuer), as well as the right to terminate the current account relationship and to the determination and payment of the closing net balance upon termination.
ASSIGNMENT FOR SECURITY PURPOSES. 5.1 The Issuer hereby assigns to the Security Trustee for security purposes (Sicherungsabtretung) all its claims and other rights arising from the German Transaction Documents (with the exception of claims and other rights arising from this Agreement, but including the rights to unilaterally alter a legal relationship (unselbständige Gestaltungsrechte)) and from all present and future German law contracts the Issuer has entered into or may enter into in connection with the Notes, the Subordinated Loan, the Swap Agreement or the Receivables. The Security Trustee hereby accepts such assignments.
5.2 The assignments for security purposes pursuant to clause 5.1 are subject to the condition precedent that the German Transaction Documents (for the avoidance of doubt excluding this Agreement) are signed.
5.3 If an express or implied current account relationship exists or is later established between the Issuer and a third party, the Issuer hereby assigns to the Security Trustee - without prejudice to the generality of the provisions in clause 5.1 - the right to receive a periodic account statement and the right to payment of present or future balances (including a final net balance determined upon the institution of any insolvency proceedings according to the Applicable Insolvency Law regarding the estate of Driver UK Multi-Compartment S.A.), as well as the right to terminate the current account relationship and to the determination and payment of the closing net balance upon termination.
ASSIGNMENT FOR SECURITY PURPOSES. Notwithstanding anything to the contrary in this Section 12, any Partner may assign, its Partnership Interest, or a Partner Affiliate may pledge the shares of a Partner, as security for a loan that is secured by both its Partnership Interest (or pledged shares) and by its or its Partner Affiliate's Project or rights to develop a Project that makes use, or will make use, of the Transmission Line; provided, however, that said assignment recognizes that any person succeeding to said Partnership Interest or pledged shares by foreclosure or transfer must comply with all of the conditions of this Section 12.
ASSIGNMENT FOR SECURITY PURPOSES. (a) The Assignor hereby assigns to the Assignee the Intellectual Property Rights together with all present and future rights, ancillary rights and claims associated with the Intellectual Property Rights, including, without limitation, any claims to fees, charges or royalties arising from the Intellectual Property Rights (together the "Assigned Rights ").
(b) The Assignee hereby accepts the assignment. The assignment is in addition, and without prejudice, to any other security any of the Assignees may now or hereafter hold in respect of the Secured Obligations. The validity and effect of the assignment of any of the Assigned Rights shall be independent from the validity and the effect of the assignment of any other of the Assigned Rights made hereunder.
(c) Notwithstanding that all rights for payments are assigned hereunder as mentioned under Clause 4(a), the Assignor shall be entitled to collect, receive and retain all such payments in respect of the Assigned Rights until such time as the Assignees are entitled to realize their security from the Assigned Rights. For this purpose the Assignee hereby authorizes and appoints the Assignor to exercise all rights assigned and transferred to it under this Security Assignment Agreement in its own name and the Assignor may deal solely with third parties, unless otherwise expressed in this Agreement. This authorization and appointment may be revoked or suspended if an event as specified in Clause 5(a) has occurred, is continuing or has been declared.
ASSIGNMENT FOR SECURITY PURPOSES. 1. The Lessee may not assign for security purposes all or a portion of or any interest in this Lease, including improvements, without the prior written consent of the Lessor. An assignment for security purposes made contrary to the requirements of this section is void.
2. A request for consent to an assignment for security purposes must be submitted in writing to the Lessor for approval and must include the following:
a. The name, address, and telephone contact number for the proposed assignee;
b. three (3) originals of the executed assignment documents with notarized signatures of the assignor and proposed assignee; and
c. one (1) copy of any deed of trust, promissory note, or other document that is a part of the security assignment transaction.
3. A security assignment document must include a provision stating that if the security assignee takes possession or control of this Lease, either directly or through a sublessee, by foreclosure or otherwise, under the security assignment, the assignee accepts responsibility for all of the assignor’s obligations under this Lease, including environmental liability and responsibility, except that the security assignee has no affirmative duty or obligation under this Lease unless the security assignee takes possession or control of the leasehold.
4. Exercise by a security assignee of a power of sale or further assignment under a security assignment is subject to the consent of the Lessor with respect to any purchaser or assignee and shall be conditioned upon the purchaser or assignee accepting responsibility for all of the assignor’s obligations under this Lease, including environmental liability and responsibility.
5. In the event of a conflict between this Lease and an assignment of an interest in this Lease, the terms of this Lease control.
ASSIGNMENT FOR SECURITY PURPOSES. 5.1 The Issuer hereby assigns to the Security Trustee for security purposes (Sicherungsabtretung) all its claims and other rights arising from the German Transaction Documents (with the exception of claims and other rights arising from this Agreement, but including the rights to unilaterally alter a legal relationship (unselbständige
ASSIGNMENT FOR SECURITY PURPOSES. BUYER may assign, pledge and hypothecate this Contract as additional security for certain loans made or to be made to BUYER by Financier relative to the development of the Facility, and SELLER hereby grants its consent and agreement to such action, provider that BUYER shall first obtain SELLER's written consent, which shall not be unreasonably withheld. In the event that Financier forecloses on its secured interest, SELLER agrees that, absent a material breach of any of the other terms hereof, this Contract shall remain in force and effect, and SELLER shall accept Financier's or Financier's assignees substitute performance hereunder for all purposes.
ASSIGNMENT FOR SECURITY PURPOSES. Contractor assigns for security purposes (txxxx sicherungshalber ab) to Company all and any claims, including, but not limited to, claims related to defects liability (Gewährleistungsansprüche which includes Mängelansprüche), performance (Erfüllungsansprüche), against any or all (einzelne oder alle) of its subcontractors and other contractors, as architects engineers and the like, vendors and other persons or entities which Contractor employs for and related to fulfilling its duties under this Agreement. Company accepts this assignment. Company may only foreclose on this assignment to the respective subcontractor if the Contractor is – despite receipt of a written warning notice explicitly notifying Contractor that not remedying the delay despite the notice will lead to such foreclosure to the rerspective subcontractor—in delay with duties under this Agreement. The Contractor is obliged, in its name, to raise and enforce these claims assigned for security purposes until the relevant assignment is foreclosed on vis-á-vis the relevant person or entity (geltendmachen in eigenem Namen und für eigenes Recht).
ASSIGNMENT FOR SECURITY PURPOSES. Contractor assigns for security purposes (xxxxx sicherungshalber ab) to Company all and any claims, including, but not limited to, claims related to defects liability (Gewährleistungsansprüche which includes Mängelansprüche), performance (Erfüllungsansprüche), against any or all (einzelne oder alle) of its subcontractors and other contractors, as architects engineers and the like, vendors and other persons or entities which Contractor employs for and related to fulfilling its duties under this Agreement. Company accepts this assignment. * Confidential treatment has been requested for portions of this exhibit. Company may only foreclose on this assignment to the respective subcontractor if the Contractor is – despite receipt of a written warning notice explicitly notifying Contractor that not remedying the delay despite the notice will lead to such foreclosure to the rerspective subcontractor - in delay with duties under this Agreement. The Contractor is obliged, in its name, to raise and enforce these claims assigned for security purposes until the relevant assignment is foreclosed on vis-á-vis the relevant person or entity (geltendmachen in eigenem Namen und für eigenes Recht).
