Common use of Assignment of Project Loan; Remedies Under the Project Loan Clause in Contracts

Assignment of Project Loan; Remedies Under the Project Loan. (a) Funding Lender Representative shall have the right, with respect to the Project Loan, in its sole and absolute discretion, without directing Fiscal Agent to effect an acceleration of the Funding Loan, to instruct Fiscal Agent in writing to assign the Project Note, the Security Instrument and the other Project Loan Documents to Funding Lender Representative, in which event Fiscal Agent shall do all of the following: (i) Endorse and deliver the Project Note to Funding Lender Representative and assign (in recordable form) the Security Instrument. (ii) Execute and deliver to Funding Lender Representative all documents prepared by Funding Lender Representative necessary to assign (in recordable form) all other Project Loan Documents to Funding Lender Representative. (iii) Execute all such documents prepared by Funding Lender Representative as are necessary to legally and validly effectuate the assignments provided for in the preceding clauses (i) and (ii). (b) Fiscal Agent’s assignments to Funding Lender Representative pursuant to this Section 6.11 shall be without recourse or warranty except that Fiscal Agent shall represent and warrant in connection therewith: (i) That Fiscal Agent has not previously endorsed or assigned any such documents or instruments and (ii) That Fiscal Agent has the corporate authority to endorse and assign such documents and instruments and such endorsements and assignments have been duly authorized. (c) Funding Lender Representative shall have the right, in its own name or on behalf of Governmental Lender or Fiscal Agent, to declare any default and exercise any remedies under the Project Loan Agreement, the Project Note or the Security Instrument, whether or not the Governmental Note has been accelerated or declared due and payable by reason of an Event of Default or the occurrence of a mandatory prepayment.

Assignment of Project Loan; Remedies Under the Project Loan. (a) The Funding Lender Representative shall have the right, with respect to the Project Loan, in its sole and absolute discretion, without directing the Fiscal Agent to effect an acceleration of the Funding Loan, to instruct the Fiscal Agent in writing to assign the Project Note, the Security Instrument and the other Project Loan Documents to the Funding Lender Representative, in which event the Fiscal Agent shall do all of the following: (ia) Endorse endorse and deliver the Project Note to the Funding Lender Representative and assign (in recordable form) the Security Instrument. , (iib) Execute execute and deliver to the Funding Lender Representative all documents prepared by the Funding Lender Representative necessary to assign (in recordable form) all other Project Loan Documents to the Funding Lender Representative. Representative and (iiic) Execute execute all such documents prepared by the Funding Lender Representative as are necessary to legally and validly effectuate the assignments provided for in the preceding clauses (ia) and (iib). (b) . The Fiscal Agent’s assignments to the Funding Lender Representative pursuant to this Section 6.11 6.12 shall be without recourse or warranty except that the Fiscal Agent shall represent and warrant in connection therewith: therewith (iA) That that the Fiscal Agent has not previously endorsed or assigned any such documents or instruments and and (iiB) That that the Fiscal Agent has the corporate authority to endorse and assign such documents and instruments and such endorsements and assignments have been duly authorized. (cb) The Funding Lender Representative shall have the right, in its own name or on behalf of the Governmental Lender or the Fiscal Agent, to declare any default and exercise any remedies under the Project Loan Agreement, the Project Note or the Security Instrument, whether or not the Governmental Note has been accelerated or declared due and payable by reason of an Event of Default or the occurrence of a mandatory prepayment.

Assignment of Project Loan; Remedies Under the Project Loan. (a) The Funding Lender Representative shall have the right, with respect to the Project Loan, in its sole and absolute discretion, without directing the Fiscal Agent to effect an acceleration of the Funding Loan, to instruct the Fiscal Agent in writing to assign the Project NoteNotes, the Security Instrument and the other Project Loan Documents to the Funding Lender Representative, in which event the Fiscal Agent shall do all of the following: (i) Endorse endorse and deliver the Project Note Notes to the Funding Lender Representative and assign (in recordable form) the Security Instrument. , (ii) Execute execute and deliver to the Funding Lender Representative all documents prepared by the Funding Lender Representative necessary to assign (in recordable form) all other Project Loan Documents to the Funding Lender Representative. Representative and (iii) Execute execute all such documents prepared by the Funding Lender Representative as are necessary to legally and validly effectuate the assignments provided for in the preceding clauses (i) and (ii). (b) . The Fiscal Agent’s assignments to the Funding Lender Representative pursuant to this Section 6.11 6.12 shall be without recourse or warranty except that the Fiscal Agent shall represent and warrant in connection therewith: therewith (iA) That that the Fiscal Agent has not previously endorsed or assigned any such documents or instruments and and (iiB) That that the Fiscal Agent has the corporate authority to endorse and assign such documents and instruments and such endorsements and assignments have been duly authorized. (cb) The Funding Lender Representative shall have the right, in its own name or on behalf of the Governmental Lender or the Fiscal Agent, to declare any default and exercise any remedies under the Project Loan Agreement, the Project Note or Notes, the Security InstrumentInstrument or any other Project Loan Document, whether or not the Governmental Note has Notes have been accelerated or declared due and payable by reason of an Event of Default or the occurrence of a mandatory prepayment.

Assignment of Project Loan; Remedies Under the Project Loan. (a) The Funding Lender Representative shall have the right, with respect to the Project Loan, in its sole and absolute discretion, without directing the Fiscal Agent to effect an acceleration of the Funding Loan, to instruct the Fiscal Agent in writing to assign the Project Note, the Security Instrument and the other Project Loan Financing Documents to the Funding Lender Representative, in which event the Fiscal Agent shall do all of the following: (ia) Endorse endorse and deliver the Project Note to the Funding Lender Representative and assign (in recordable form) the Security Instrument. , (iib) Execute execute and deliver to the Funding Lender Representative all documents prepared by the Funding Lender Representative necessary to assign (in recordable form) all other Project Loan Documents to the Funding Lender Representative. Representative and (iiic) Execute execute all such documents prepared by the Funding Lender Representative as are necessary to legally and validly effectuate the assignments provided for in the preceding clauses (ia) and (iib). (b) . The Fiscal Agent’s assignments to the Funding Lender Representative pursuant to this Section 6.11 6.12 shall be without recourse or warranty except that the Fiscal Agent shall represent and warrant in connection therewith: therewith (iA) That that the Fiscal Agent has not previously endorsed or assigned any such documents or instruments and and (iiB) That that the Fiscal Agent has the corporate authority to endorse and assign such documents and instruments and such endorsements and assignments have been duly authorized. (cb) The Funding Lender Representative shall have the right, in its own name or on behalf of the Governmental Lender or the Fiscal Agent, to declare any default and exercise any remedies under the Project Loan Agreement, the Project Note or the Security Instrument, whether or not the Governmental Note has been accelerated or declared due and payable by reason of an Event of Default or the occurrence of a mandatory prepayment.

Assignment of Project Loan; Remedies Under the Project Loan. (a) The Funding Lender Representative shall have the right, with respect to the Project Loan, in its sole and absolute discretion, without directing the Fiscal Agent to effect an acceleration of the Funding Loan, to instruct the Fiscal Agent in writing to assign the Project Note, the Security Instrument and the other Project Loan Financing Documents to the Funding Lender Representative, in which event the Fiscal Agent shall do all of the following: (ia) Endorse endorse and deliver the Project Note to the Funding Lender Representative and assign (in recordable form) the Security Instrument. , (iib) Execute execute and deliver to the Funding Lender Representative all documents prepared by the Funding Lender Representative necessary to assign (in recordable form) all other Project Loan Documents to the Funding Lender Representative. Representative and (iiic) Execute execute all such documents prepared by the Funding Lender Representative as are necessary to legally and validly effectuate the assignments provided for in the preceding clauses (ia) and (iib). (b) . The Fiscal Agent’s assignments to the Funding Lender Representative pursuant to this Section 6.11 6.12 shall be without recourse or warranty except that the Fiscal Agent shall represent and warrant in connection therewith: therewith (iA) That that the Fiscal Agent has not previously endorsed or assigned any such documents or instruments and and (iiB) That that the Fiscal Agent has the corporate authority to endorse and assign such documents and instruments and such endorsements and assignments have been duly authorized. Prior to making such an assignment, the Fiscal Agent shall have received a No Adverse Effect Opinion with respect to such assignment of Pledged Security. (cb) The Funding Lender Representative shall have the right, in its own name or on behalf of the Governmental Lender or the Fiscal Agent, to declare any default and exercise any remedies under the Project Loan Agreement, the Project Note or the Security Instrument, whether or not the Governmental Note has been accelerated or declared due and payable by reason of an Event of Default or the occurrence of a mandatory prepayment.

Assignment of Project Loan; Remedies Under the Project Loan. (a) The Funding Lender Representative shall have the right, with respect to the Project Loan, in its sole and absolute discretion, without directing the Fiscal Agent to effect an acceleration of the Funding Loan, to instruct the Fiscal Agent in writing to assign the Project Note, the Security Instrument and the other Project Loan Financing Documents to the Funding Lender Representative, in which event the Fiscal Agent shall do Agent, upon payments of all unpaid fees and expenses of the following: Fiscal Agent, shall (ia) Endorse endorse and deliver the Project Note to the Funding Lender Representative and assign (in recordable form) the Security Instrument. , (iib) Execute execute and deliver to the Funding Lender Representative all documents prepared by the Funding Lender Representative necessary to assign (in recordable form) all other Project Loan Documents to the Funding Lender Representative. Representative and (iiic) Execute execute all such documents prepared by the Funding Lender Representative as are necessary to legally and validly effectuate the assignments provided for in the preceding clauses (ia) and (iib). (b) . The Fiscal Agent’s assignments to the Funding Lender Representative pursuant to this Section 6.11 6.12 shall be without recourse or warranty except that the Fiscal Agent shall represent and warrant in connection therewith: therewith (iA) That that the Fiscal Agent has not previously endorsed or assigned any such documents or instruments and and (iiB) That that the Fiscal Agent has the corporate authority to endorse and assign such documents and instruments and such endorsements and assignments have been duly authorized. (cb) The Funding Lender Representative shall have the right, in its own name or on behalf of the Governmental Lender or the Fiscal Agent, to declare any default and exercise any remedies under the Project Loan Agreement, the Project Note or the Security Instrument, whether or not the Governmental Note has been accelerated or declared due and payable by reason of an Event of Default or the occurrence of a mandatory prepayment.

Assignment of Project Loan; Remedies Under the Project Loan. (a) The Funding Lender Representative shall have the right, with respect to the Project Loan, in its sole and absolute discretion, without directing the Fiscal Agent to effect an acceleration of the Funding Loan, to instruct the Fiscal Agent in writing to assign the Project NoteNotes, the Security Instrument and the other Project Loan Financing Documents to the Funding Lender Representative, in which event the Fiscal Agent shall do all of the following: (ia) Endorse endorse and deliver the Project Note Notes to the Funding Lender Representative and assign (in recordable form) the Security Instrument. , (iib) Execute execute and deliver to the Funding Lender Representative all documents prepared by the Funding Lender Representative necessary to assign (in recordable form) all other Project Loan Documents to the Funding Lender Representative. Representative and (iiic) Execute execute all such documents prepared by the Funding Lender Representative as are necessary to legally and validly effectuate the assignments provided for in the preceding clauses (ia) and (iib). (b) . The Fiscal Agent’s assignments to the Funding Lender Representative pursuant to this Section 6.11 6.12 shall be without recourse or warranty except that the Fiscal Agent shall represent and warrant in connection therewith: therewith (iA) That that the Fiscal Agent has not previously endorsed or assigned any such documents or instruments and and (iiB) That that the Fiscal Agent has the corporate authority to endorse and assign such documents and instruments and such endorsements and assignments have been duly authorized. Prior to making such an assignment, the Fiscal Agent shall have received a No Adverse Effect Opinion with respect to such assignment of Pledged Security. (cb) The Funding Lender Representative shall have the right, in its own name or on behalf of the Governmental Lender or the Fiscal Agent, to declare any default and exercise any remedies under the Project Loan Agreement, the Project Note Notes or the Security Instrument, whether or not the Governmental Note has Notes have been accelerated or declared due and payable by reason of an Event of Default or the occurrence of a mandatory prepayment.

Assignment of Project Loan; Remedies Under the Project Loan. (a) The Funding Lender Representative shall have the right, with respect to the Project Loan, in its sole and absolute discretion, without directing the Fiscal Agent to effect an acceleration of the Funding Loan, to instruct the Fiscal Agent in writing to assign the Project Note, the Security Instrument and the other Project Loan Financing Documents to the Funding Lender Representative, in which event the Fiscal Agent shall do all of the following: (ia) Endorse endorse and deliver the Project Note to the Funding Lender Representative and assign (in recordable form) the Security Instrument. , (iib) Execute execute and deliver to the Funding Lender Representative all documents prepared by the Funding Lender Representative necessary to assign (in recordable form) all other Project Loan Documents to the Funding Lender Representative. Representative and (iiic) Execute execute all such documents prepared by the Funding Lender Representative as are necessary to legally and validly effectuate the assignments provided for in the preceding clauses (ia) and (iib). (b) . The Fiscal Agent’s assignments to the Funding Lender Representative pursuant to this Section 6.11 6.12 shall be without recourse or warranty except that the Fiscal Agent shall represent and warrant in connection therewith: therewith (iA) That that the Fiscal Agent has not previously endorsed or assigned any such documents or instruments and and (iiB) That that the Fiscal Agent has the corporate authority to endorse and assign such documents and instruments and such endorsements and assignments have been duly authorized. (cb) The Funding Lender Representative shall have the right, in its own name or on behalf of the Governmental Lender or the Fiscal Agent, to declare any default and exercise any remedies under the Project Loan Agreement, the Project Note or the Security Instrument, whether or not the Governmental Note has have been accelerated or declared due and payable by reason of an Event of Default or the occurrence of a mandatory prepayment.