Assignment of TIF Contract and Metro Contract; Pledge of Gross Revenues Sample Clauses

Assignment of TIF Contract and Metro Contract; Pledge of Gross Revenues. The parties hereto intend that, for all purposes, the transactions contemplated hereby shall be treated as an absolute and irrevocable assignment of the TIF Contract and the Metro Contract. In furtherance thereof, (a) the Corporation hereby absolutely and irrevocably assigns, transfers, and conveys, for the payment of all Bonds and Reimbursement Obligations owed to the Bond Insurer arising from the Series 2017 Bond Insurance Policy, the Series 2017 Senior Reserve Fund Surety, and the Series 2017 Liquidity Reserve Policy, the Corporation’s interest in, and rights and title to, the TIF Contract and the Metro Contract, and to otherwise pay or cause to be paid to the Bond Trustee for the benefit of the Authority all other Gross Revenues; and (b) the Corporation shall, on or before the Closing Date, deliver to the Bond Trustee the Irrevocable Assignment of Metro Contract, the Irrevocable Assignment of TIF Contract, and the Irrevocable Assignment of Operating Agreements, pursuant to which the Corporation irrevocably and absolutely assigns to the Bond Trustee, for first, the holders of the Senior Bonds and any Reimbursement Obligations, and second, on a subordinate lien basis, the holders of future Subordinate Bonds, the Corporation’s interests in the TIF Contract, the Metro Contract, and the Operating Agreements, respectively. However, if any Person asserts that Article 9 of the Uniform Commercial Code as adopted in the Commonwealth applies or may apply to the transactions contemplated hereby, and to secure the Corporation’s payment of and performance of all obligations under this Loan Agreement, the Corporation hereby grants a first priority security interest in all of the Corporation’s right to and interest in, whether now existing or hereafter created or acquired, the TIF Contract and the TIF Revenues, the Metro Contract and the Metro Revenues, and any proceeds thereof, to secure a loan deemed to have been made by the Authority to the Corporation in an amount equal to payment in full of the Bonds and Reimbursement Obligations. Pursuant to the Indenture, the stated maturity date of any Bonds, and Reimbursement Obligations secured hereunder shall not be deemed to have occurred until the date on which such Bond has been paid in full and no Reimbursement Obligations with respect to such Bond remains outstanding or unpaid hereunder or under any or all of the Series 2017 Bond Insurance Policy, the Series 2017 Senior Reserve Fund Surety, or the Series 2017 Liquidity...
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Related to Assignment of TIF Contract and Metro Contract; Pledge of Gross Revenues

  • ASSIGNMENT AND SUB-CONTRACTING 19.1 The Contractor shall not assign or sub-contract any obligations under the Contract without the prior consent of the Authority, which shall not be unreasonably withheld or delayed. Sub-contracting any part of the Contract shall not relieve the Contractor of any of its obligations or duties.

  • ASSIGNMENT AND SUB-LETTING Tenant shall not assign this Agreement, or sub-let or grant any license to use the Premises or any part thereof without the prior written consent of Landlord. A consent by Landlord to one such assignment, sub-letting or license shall not be deemed to be a consent to any subsequent assignment, sub-letting or license. An assignment, sub-letting or license without the prior written consent of Landlord or an assignment or sub-letting by operation of law shall be absolutely null and void and shall, at Landlord's option, terminate this Agreement.

  • ASSIGNMENT/SUB-CONTRACTING The Contractor agrees that he will not sell, assign or transfer this Agreement or any part thereof or interest therein without the prior written consent of the Owner.

  • Change of Control; Assignment and Subcontracting Except as set forth in this Section 7.5, neither party may assign any of its rights and obligations under this Agreement without the prior written approval of the other party, which approval will not be unreasonably withheld. For purposes of this Section 7.5, a direct or indirect change of control of Registry Operator or any subcontracting arrangement that relates to any Critical Function (as identified in Section 6 of Specification 10) for the TLD (a “Material Subcontracting Arrangement”) shall be deemed an assignment.

  • CONSTRUCTION/PUBLIC WORKS CONTRACTS In compliance with Article 8, Section 220 of the New York State Labor Law:

  • Fixed Term Contracts (a) An employer may engage fixed-term contract employees for a specific period and/or until the completion of a specific short-term task

  • PREVAILING WAGE RATES - PUBLIC WORKS AND BUILDING SERVICES CONTRACTS If any portion of work being Bid is subject to the prevailing wage rate provisions of the Labor Law, the following shall apply:

  • Assignment and Subcontracting City and Consultant recognize and agree that this Agreement contemplates personal performance by Consultant and is based upon a determination of Consultant’s unique personal competence, experience, and specialized personal knowledge. Moreover, a substantial inducement to City for entering into this Agreement was and is the professional reputation and competence of Consultant. Consultant may not assign this Agreement or any interest therein without the prior written approval of the City. Consultant shall not subcontract any portion of the performance contemplated and provided for herein, other than to the subcontractors listed in the Consultant’s proposal, without prior written approval of the City.

  • Assignment of Contracts On the Initial Borrowing Date, the Borrower shall have duly authorized, executed and delivered a valid and effective assignment by way of security in favor of the Collateral Agent of all of the Borrower’s present and future interests in and benefits under (x) the Construction Contract, (y) each Refund Guarantee and (z) the Construction Risk Insurance (it being understood that the Borrower will use commercially reasonable efforts to have the underwriters of the Construction Risk Insurance accept and endorse on such insurance policy a loss payable clause substantially in the form set forth in Part 3 of Schedule 2 to the Assignment of Contracts (as defined below), and it being further understood that certain of the Refund Guarantee and none of the Construction Risk Insurances will have been issued on the Initial Borrowing Date), which assignment shall be substantially in the form of Exhibit J hereto or otherwise reasonably acceptable to the Lead Arrangers and the Borrower and customary for transactions of this type, along with appropriate notices and consents relating thereto (to the extent incorporated into or required pursuant to such Exhibit or otherwise agreed by the Borrower and the Facility Agent), including, without limitation, those acknowledgments, notices and consents listed on Schedule 5.07 (as modified, supplemented or amended from time to time, the “Assignment of Contracts”) provided that, if any Refund Guarantee issued to the Borrower on the Initial Borrowing Date shall have been issued by KfW IPEX-Bank GmbH, then such Refund Guarantee shall be charged pursuant to a duly authorized, executed and delivered, valid and effective charge of any such Refund Guarantee in the form of Exhibit Q hereto or otherwise in a form reasonably acceptable to the Lead Arrangers and the Borrower and customary for transactions of this type, along with appropriate notices and consents relating thereto (to the extent incorporated into or required pursuant to such Exhibit or otherwise agreed by the Borrower and the Facility Agent) (as modified, supplemented or amended from time to time, the “Charge of KfW Refund Guarantees”).

  • SUB-CONTRACTS (a) The Servicer may sub-contract or delegate the performance of all or any of its powers and obligations under this Agreement, provided that (but subject to Section 3.2(b)):

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