Common use of Certain Consents and Waivers Clause in Contracts

Certain Consents and Waivers. (a) Each Pledgor hereby consents to each of the other Pledgors entering into this Agreement in favor of Collateral Agent for the benefit of the Trustee, the Holders of the Senior Secured Notes and the Permitted Additional Senior Lenders, if any. Each Pledgor specifically agrees that such action may, among other things, assign or delegate to Collateral Agent rights to cure defaults under the Partnership Agreement, to exercise voting rights and other rights to manage or control the Borrower, and to act as such other Pledgor's attorney-in-fact in a manner similar to the assignment and delegation of such rights provided herein. Each Pledgor (to the extent permitted by applicable law) agrees that it will recognize and accept such assignment and delegation and the exercise of such rights by Collateral Agent in connection with this Agreement and agrees that any option or rights of any Pledgor to acquire any of the Collateral from any other Pledgor pursuant to the Partnership Agreement shall be subordinate to any right of the Trustee in the Collateral created hereunder.

Appears in 3 contracts

Samples: Partnership Interest Pledge Agreement (Coso Power Developers), Partnership Interest Pledge Agreement (Coso Power Developers), Partnership Interest Pledge Agreement (Coso Power Developers)

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Certain Consents and Waivers. (a) Each Pledgor hereby consents to each of the other Pledgors Pledgor entering into this Agreement in favor of Collateral Agent for the benefit of the Trustee, the Holders of the Senior Secured Notes and the Permitted Additional Senior Lenders, if any. Each Pledgor specifically agrees that such action may, among other things, assign or delegate to Collateral Agent rights to cure defaults under the Partnership Agreement, to exercise voting rights and other rights to manage or control the BorrowerCTLP, and to act as such other Pledgor's attorney-in-fact in a manner similar to the assignment and delegation of such rights provided herein. Each Pledgor (to the extent permitted by applicable law) agrees that it will recognize and accept such assignment and delegation and the exercise of such rights by Collateral Agent in connection with this Agreement and agrees that any option or rights of any Pledgor to acquire any of the Collateral from any other Pledgor pursuant to the Partnership Agreement shall be subordinate to any right of the Trustee in the Collateral created hereunder.

Appears in 1 contract

Samples: Partnership Interest Pledge Agreement (Coso Power Developers)

Certain Consents and Waivers. (a) Each Pledgor hereby consents to each of the other Pledgors Pledgor entering into this Agreement in favor of Collateral Agent for the benefit of the Trustee, the Holders of the Senior Secured Notes and the Permitted Additional Senior Lenders, if any. Each Pledgor specifically agrees that such action may, among other things, assign or delegate to Collateral Agent rights to cure defaults under the Partnership Agreement, to exercise voting rights and other rights to manage or control the BorrowerCLJV, and to act as such other Pledgor's attorney-in-fact in a manner similar to the assignment and delegation of such rights provided herein. Each Pledgor (to the extent permitted by applicable law) agrees that it will recognize and accept such assignment and delegation and the exercise of such rights by Collateral Agent in connection with this Agreement and agrees that any option or rights of any Pledgor to acquire any of the Collateral from any other Pledgor pursuant to the Partnership Agreement shall be subordinate to any right of the Trustee in the Collateral created hereunder.

Appears in 1 contract

Samples: Partnership Interest Pledge Agreement (Coso Power Developers)

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Certain Consents and Waivers. (a) Each Pledgor hereby consents to each of the other Pledgors Pledgor entering into this Agreement in favor of Collateral Agent for the benefit of the Trustee, the Holders of the Senior Secured Notes and the Permitted Additional Senior Lenders, if any. Each Pledgor specifically agrees that such action may, among other things, assign or delegate to Collateral Agent rights to cure defaults under the Partnership Agreement, to exercise voting rights and other rights to manage or control the BorrowerCLC, and to act as such other Pledgor's attorney-in-fact in a manner similar to the assignment and delegation of such rights provided herein. Each Pledgor (to the extent permitted by applicable law) agrees that it will recognize and accept such assignment and delegation and the exercise of such rights by Collateral Agent in connection with this Agreement and agrees that any option or rights of any Pledgor to acquire any of the Collateral from any other Pledgor pursuant to the Partnership Agreement shall be subordinate to any right of the Trustee in the Collateral created hereunder.

Appears in 1 contract

Samples: Partnership Interest Pledge Agreement (Coso Power Developers)

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