COLLATERAL ASSIGNMENT OF CONTRACTS AND PLANS Sample Clauses

COLLATERAL ASSIGNMENT OF CONTRACTS AND PLANS. The Borrower and the Manager shall have duly executed and delivered a Collateral Assignment of Contracts and Plans (as modified, amended or supplemented from time to time in accordance with the terms thereof and hereof, a "COLLATERAL ASSIGNMENT OF CONTRACTS AND PLANS"), substantially in the form attached hereto as Exhibit C-3, for such Project, covering (i) unless the Project has been completed and a Certificate of Occupancy issued with respect thereto, the Plans and Specifications for such Project, (ii) the Borrower's interests in any Management Contract for such Project, and (iii) unless the Project has been completed and a Certificate of Occupancy issued with respect thereto, all contracts with the general contractor or any other contractors, architects and mechanical and structural engineers, if any, retained in connection with the construction of the Improvements for such Project, together with consents of the general contractor, the architect, and any other parties to the contracts and agreements being assigned which are valued in excess of $500,000 and required by the Administrative Agent, in form and substance satisfactory to the Collateral Agent, containing the confirmation by such other parties that they will continue to perform under such contracts and agreements, as the same may be, after enforcement of and realization of such assignment by the Collateral Agent. Such Collateral Assignment of Contracts and Plans shall be in full force and effect, and original or photocopy counterparts thereof and of such consents shall have been delivered to the Administrative Agent, in sufficient quantities for the Administrative Agent and the Lenders.
Sample 1
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COLLATERAL ASSIGNMENT OF CONTRACTS AND PLANS. The Company and such Borrower shall have duly executed and delivered a Collateral Assignment of Contracts and Plans (as modified, amended or supplemented from time to time in accordance with the terms thereof and hereof, a "COLLATERAL ASSIGNMENT OF CONTRACTS AND PLANS"), substantially in the form attached hereto as Exhibit C-3, for such Project, covering (i) the Plans and Specifications for such Project, (ii) such Borrower's interests in the Management Contract/Company Lease for such Project with the Company, (iii) such Borrower's rights to obtain loans from the Permanent Lender or Supplemental Permanent Lender for such Project and related rights under the Project Take-Out Agreement for such Project, and (iv) the Company's or such Borrower's contracts with the general contractor or any other contractors, architects and mechanical and structural engineers, if any, retained by the Company or such Borrower in connection with the construction of the Improvements for such Project, together with consents of the general contractor, the architect, and any other parties to the contracts and agreements being assigned which are valued in excess of $500,000 and required by the Administrative Agent, in form and substance satisfactory to the Collateral Agent, containing the confirmation by such other parties that they will continue to perform under such contracts and agreements, as the same may be, after enforcement of and realization of such assignment by the Collateral Agent. Such Collateral Assignment of Contracts and Plans shall be in full force and effect, and original or photocopy counterparts thereof and of such consents shall have been delivered to the Administrative Agent, in sufficient quantities for the Administrative Agent and the Lenders. 51 57
Sample 1

Related to COLLATERAL ASSIGNMENT OF CONTRACTS AND PLANS

  • 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”).

  • Assignment of Contracts and Rights Anything in this Agreement to the contrary notwithstanding, this Agreement shall not constitute an agreement to assign any Asset or any claim or right or any benefit arising thereunder or resulting therefrom if an attempted assignment thereof, without the consent of a third party thereto, would constitute a breach or other contravention thereof, be ineffective with respect to any party thereto or in any way adversely affect the rights of Seller or, upon transfer, Purchaser thereunder. Seller agrees that it will use its best efforts to obtain the necessary consents to the assignment of each Seller Contract or other Seller Asset which by its terms requires the consent of any of the other contracting parties thereto to an assignment thereof to Purchaser. If such consent is not obtained with respect to any such Contract or other Asset, Seller and Purchaser will cooperate in an arrangement reasonably satisfactory to Purchaser and Seller under which Purchaser shall obtain, to the extent practicable, the claims, rights and benefits and assume the corresponding obligations thereunder in accordance with this Agreement, including subcontracting, sub-licensing or sub-leasing to Purchaser, or under which Seller shall enforce for the benefit of Purchaser, with Purchaser assuming Seller’s obligations, any and all claims, rights and benefits of Seller against a third party thereto. Seller will promptly pay to Purchaser when received all monies received by Seller under any Contract or other Asset or any claim, right or benefit arising thereunder not transferred to Purchaser pursuant to this Section 8(j). Purchaser agrees to perform at its sole expense all of the obligations of Seller to be performed after the Acquisition Date under any such Contract or other Asset the benefits of which Purchaser is receiving pursuant to the provisions of this Section 8(g).

  • Assignment of Contract Contractor shall not assign or otherwise transfer its rights under this Agreement, without the prior written consent of Client. Any attempt to make such an assignment without Client's consent shall be void. Client's consent shall not be reasonably withheld.

  • Collateral Assignment The Owner may assign this contract as collateral security. The Company is not responsible for the validity or effect of a collateral assignment. The Company will not be responsible to an assignee for any payment or other action taken by the Company before receipt of the assignment in writing at its Home Office. The interest of any beneficiary will be subject to any collateral assignment made either before or after the beneficiary is named. A collateral assignee is not an Owner. A collateral assignment is not a transfer of ownership. Ownership can be transferred only by complying with Section 8.2.

  • Leases and Contracts Schedule 8(f) is a list of all Leases and Contracts relating to the Facility to which Seller is a party or by which Seller may be bound. Seller has made or will promptly make available to Buyer true, complete and accurate copies of all Leases and Contracts including, without limitation, any modifications thereto. All of the Leases and Contracts are in full force and effect without claim of material default there under, and, except as may be set forth on Schedule 8(f).

  • Assumption of Contracts The sale of the Assets is and will be made subject to the Contracts to which the Assets are presently subject. Buyer shall assume and be responsible for all obligations accruing under the Contracts after the Effective Time.

  • General Assignment A general assignment by Tenant for the benefit of creditors;

  • List of Contracts The information set forth in the List of Contracts is true, complete and correct in all material respects as of the Cutoff Date.

  • Deed; Xxxx of Sale; Assignment To the extent required and permitted by applicable law, this Agreement shall also constitute a “deed,” “xxxx of sale” or “assignment” of the assets and interests referenced herein.

  • General Assignments Assignments of all of Seller’s right, title and interest in and to all FF&E Leases, Service Contracts and Leases identified on Exhibit C hereto (the “Hotel Contracts”). The assignment shall also be a general assignment and shall provide for the assignment of all of Seller’s right, title and interest in all Records, Warranties, Licenses, Tradenames, Contracts, Plans and Specs and all other intangible Personal Property applicable to the Hotel.

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