Common use of Consent to Pledge and/or Assignment Clause in Contracts

Consent to Pledge and/or Assignment. The City hereby acknowledges that the Developers may from time to time pledge and assign its right, title and interest in, to and under this Agreement as collateral for any financing of the Project in the District secured by a mortgage of the Developer’s properties within the District, although no obligation is hereby imposed on either of the Developers to make such assignment or pledge. Recognizing this possibility, the City does hereby consent and agree to the pledge and assignment of all Developers’ right, title and interest in, to and under this Agreement and in, and to the payments to be made to either Developer hereunder, to third parties as collateral or security for financing such development, on one or more occasions during the term hereof. The City agrees to execute and deliver any assignments, pledge agreements, consents or other confirmations required by such prospective pledgee or assignee, including without limitation recognition of the pledgee or assignee as the holder of all right, title and interest herein and as the payee of amounts due and payable hereunder. The City agrees to execute and deliver any other documentation as shall confirm to such pledgee or assignee the position of such assignee or pledgee and the irrevocable and binding nature of this Agreement and provide to such pledgee or assignee such rights and/or remedies as either Developer or such pledgee or assignee may reasonably deem necessary for the establishment, perfection and protection of its interest herein. The respective Developer shall be responsible for the City’s necessary and reasonable costs of counsel with respect to any such pledge or assignment.

Consent to Pledge and/or Assignment. The City Town hereby acknowledges that it is the Developers may from time intent of the Company to time pledge and assign its right, title and interest in, to and under this Agreement as collateral for any financing of for the Project in the District secured by a mortgage of the Developer’s properties within the DistrictProject, although no obligation is hereby imposed on either of the Developers Company to make such assignment or pledge. Recognizing this possibilityintention, the City Town does hereby consent and agree to the pledge and assignment of all Developers’ the Company's right, title and interest in, to and under this Agreement (provided that such collateral assignment shall be effective only as long as the assignee holds a first mortgage on the Developer’s Property (Company’s Unit)) and in, and to the payments to be made to either Developer Company hereunder, to third parties a bank or other financial institution regularly engaged in making commercial loans as collateral or security for financing such developmentthe Development Property, on one or more occasions during the term hereof. The City Town agrees to execute and deliver any assignments, pledge agreementsassignments, consents or other confirmations on terms reasonably satisfactory to the Town (including that any pledge or secured party succeeding to Company’s rights hereunder assume in writing, in form satisfactory to the Town, the obligations of Company under this Agreement) required by such the prospective pledgee or assignee, including without limitation recognition of the pledgee or assignee as the holder of all right, title and interest herein and as the payee of amounts due and payable hereunder. The City agrees to execute hereunder and deliver any and all such other documentation as shall confirm to such pledgee pledge or assignee the position of such assignee or pledgee and the irrevocable and binding nature of this Agreement and provide to such the pledgee or assignee such rights and/or remedies as either Developer or such pledgee or assignee the parties may reasonably deem necessary for the establishmentestablishing, perfection and protection of its interest herein. The respective Developer shall be responsible for the City’s necessary and reasonable costs of counsel with respect to any such pledge or assignment.

Consent to Pledge and/or Assignment. The City Town hereby acknowledges that the Developers Developer may from time to time pledge and assign its right, title and interest in, to and under this Agreement as collateral for any financing of for the Project in the District secured by a mortgage of the Developer’s properties within the DistrictEvergreen Wind Power Project, although no obligation is hereby imposed on either of the Developers Developer to make such assignment or pledge. Recognizing this possibility, the City Town does hereby consent and agree to the pledge and assignment of all Developers’ the Developer's right, title and interest in, to and under this Agreement and in, and to the payments to be made to either Developer hereunder, to third parties as collateral or security for financing such developmentthe Development Program, on one or more occasions during the term hereof. The City Town agrees to execute and deliver any assignments, pledge agreements, consents or other confirmations required by such prospective pledgee or assignee, including without limitation recognition of the pledgee or assignee as the holder of all right, title and interest herein and as the payee of amounts due and payable hereunder. The City Town agrees to execute and deliver any other documentation as shall confirm to such pledgee or assignee the position of such assignee or pledgee and the irrevocable and binding nature of this Agreement and provide to such pledgee or assignee such rights and/or remedies as either the Developer or such pledgee or assignee may reasonably deem necessary for the establishment, perfection and protection of its interest herein. The respective Developer shall be responsible for the City’s necessary and reasonable costs of counsel with respect to any such pledge or assignment.

Consent to Pledge and/or Assignment. The City Town hereby acknowledges that it is the Developers may from time intent of the Developer to time pledge and assign its right, title and interest in, to and under this Agreement as collateral for any financing of for the Project in the District secured by a mortgage of the Developer’s properties within the DistrictProject, although no obligation is hereby imposed on either of the Developers Developer to make such assignment or pledge. Recognizing this possibilityintention, the City Town does hereby consent and agree to the pledge and assignment of all Developers’ the Developer's right, title and interest in, to and under this Agreement (provided that such collateral assignment shall be effective only as long as the assignee holds a first mortgage on the Developer’s Property) and in, and to the payments to be made to either Developer hereunder, to third parties a bank or other financial institution regularly engaged in making commercial loans as collateral or security for financing such developmentthe Development Property, on one or more occasions during the term hereof. The City Town agrees to execute and deliver any assignments, pledge agreementsassignments, consents or other confirmations on terms reasonably satisfactory to the Town (including that any pledge or secured party succeeding to Developer’s rights hereunder assume in writing, in form satisfactory to the Town, the obligations of Developer under this Agreement) required by such the prospective pledgee or assignee, including without limitation recognition of the pledgee or assignee as the holder of all right, title and interest herein and as the payee of amounts due and payable hereunder. The City agrees to execute hereunder and deliver any and all such other documentation as shall confirm to such pledgee pledge or assignee the position of such assignee or pledgee and the irrevocable and binding nature of this Agreement and provide to such the pledgee or assignee such rights and/or remedies as either Developer or such pledgee or assignee the parties may reasonably deem necessary for the establishmentestablishing, perfection and protection of its interest herein. The respective Developer shall be responsible for the City’s necessary and reasonable costs of counsel with respect to any such pledge or assignment.

Consent to Pledge and/or Assignment. The City hereby acknowledges that the Developers Developer may from time to time pledge and assign its right, title and interest in, to and under this Agreement as collateral for any financing improvements by or on behalf of the Project in the District secured by a mortgage of the Developer’s properties Developer within the District, although no obligation is hereby imposed on either of the Developers Developer to make such assignment or pledge. Recognizing this possibility, the City does hereby consent and agree to the pledge and assignment of all Developers’ the Developer’s right, title and interest in, to and under this Agreement and in, and to the payments to be made to either Developer hereunder, to third parties as collateral or security for financing such development, on one or more occasions during the term hereof. The City agrees to execute and deliver any assignments, pledge agreements, consents or other confirmations required by such prospective pledgee or assignee, including without limitation recognition of the pledgee or assignee as the holder of all right, title and interest herein and as the payee of amounts due and payable hereunder. The City agrees to execute and deliver any other documentation as shall confirm to such pledgee or assignee the position of such assignee or pledgee and the irrevocable and binding nature of this Agreement and provide to such pledgee or assignee such rights and/or remedies as either the Developer or such pledgee or assignee may reasonably deem necessary for the establishment, perfection and protection of its interest herein. The respective Developer shall be responsible for defray the City’s necessary and reasonable costs of counsel with respect to any such pledge or assignment.