Consent to Security. Notwithstanding anything to the contrary in the Comprehensive Agreement:
(a) the Department acknowledges notice and receipt of and consents to:
(i) the assignment by the Developer to the Collateral Agent of all of the Developer’s Interest pursuant to the Initial Project Financing Agreements;
(ii) the grant by each of the initial Equity Members to the Collateral Agent of a security interest in their respective equity interests in the Developer, in each case pursuant to the Initial Project Financing Agreements; and
(iii) the grant by the Developer to the Collateral Agent of the security interests in all of the property and assets of the Developer pursuant to the Initial Project Financing Agreements;
(b) none of the security interests referred to in Section 2.01(a):
(i) constitute (or with the giving of notice or lapse of time, or both, could constitute) either a breach by the Developer of its obligations under the Comprehensive Agreement or a Developer Default; or
(ii) require any consent of the Department that is either additional or supplemental to those granted pursuant to this Section 2.01;
(c) without prejudice to the rights granted to the Collateral Agent pursuant to this Agreement, the Collateral Agent will not, by virtue of the security interests referred to in Section 2.01(a), acquire any greater rights to the Developer’s Interest than the Developer itself has at any particular time pursuant to the Comprehensive Agreement; and
(d) for so long as any amount under the Initial Project Financing Agreements is outstanding, the Department will not, without the prior written consent of the Collateral Agent, consent to any assignment, transfer, pledge or hypothecation by the Developer of the Comprehensive Agreement or any interest therein by the Developer, other than as specified in this Agreement.
Consent to Security. The Province hereby:
(a) consents, as required by section 94 of the Financial Administration Act (Alberta), to the granting by the Contractor to the Lender of a security interest in the Payment, the Progress Payments and any Termination Payment or other payment becoming due by the Province to the Contractor under the DBFM Agreement;
(b) acknowledges and agrees that section 22.1 of the DBFM Agreement does not restrict any grant by the Contractor of a security interest in the rights and interests of the Contractor in, to and under the DBFM Agreement or any documents, instruments or letters of credit contemplated in or arising out of the DBFM Agreement or to the perfection of such security interests; and
(c) acknowledges that, except for the consent referred to in Section 2.1(a) above, no consent of the Province is required for the granting by the Contractor of any security to the Lender or, subject to the restrictions on assignment in section 22.1 of the DBFM Agreement and to Sections 2.16 and 2.17 below, the enforcement of any such security by the Lender.
Consent to Security. Client (i) consents to the granting of the Mortgage in favour of Security Trustee, (ii) consents in all respects to the granting of the security interests referred to in Recital D above including the assignment to Security Trustee pursuant to the Debenture of all of Borrower’s right, title and interest in, to and under the Drilling Contract (including all moneys payable to Borrower, and any claims, judgments and awards in favour of Borrower, under or in connection with the Drilling Contract), (iii) acknowledges the right of Security Trustee or any designee of Security Trustee, subject to Article 2.1, in the exercise of Security Trustee’s rights and remedies under the Finance Documents after the occurrence and during the continuation of an Event of Default to make all demands, give all notices, take all actions and exercise all rights of Borrower under the Drilling Contract, (iv) acknowledges that the Borrower may not (and agrees that it will not), without obtaining the prior written consent of the Security Trustee pursuant to the terms of the Finance Documents, amend or terminate the Drilling Contract provided that until such time as Client receives notice from Security Trustee to the contrary, Borrower may agree with Client amendments to the Drilling Contract of a minor operational nature that shall be copied by Borrower to Security Trustee promptly following execution and which amendments do not affect, amend, vary or supplement any terms of the Drilling Contract relating to the calculation or payment of hire or any other amounts (other than any supplemental or consequential adjustments to the hire as are expressly contemplated by the terms of the Drilling Contract as of the date of this Agreement).
Consent to Security. (a) [In accordance with [____________] of the Assigned Agreement, the Contracting Party consents to the granting of the Security Interest to the Collateral Agent pursuant to the Security Agreement].25
(b) The Contracting Party agrees that the grant of the Security Interest to the Collateral Agent by the Borrower pursuant to the Security Agreement does not relieve the Contracting Party of its obligations to continue performance of the Assigned Agreement in accordance with its terms.
Consent to Security. The parties hereto (i) acknowledge that the Guarantor may grant a hypothec on, and a security interest in, all of its rights, title and interest in this Agreement in favour of Computershare Trust Company of Canada, as fondé de pouvoir under Article 2692 of the Civil Code, for the benefit of the Secured Creditors, including inter alia the holders of the Covered Bonds, in accordance with and pursuant to the terms of the Security Agreement and the Security Documents, and (ii) irrevocably consent thereto.
Consent to Security. The Shipper hereby acknowledges and irrevocably consents to the assignment and grant to the Collateral Agent of Security Interests by the Carrier of all of its right, title, estate and interest in, to and under the Assigned Agreements.
Consent to Security. Each Security Holder:
(a) consents to the creation and execution by the Operator of the Security in favour of the other Security Holder; and
(b) agrees that the creation or existence of that Security does not constitute a breach by the Operator of any covenant or condition of the Security in its own favour.
Consent to Security. (a) In respect of each Project Document which provides that the relevant Obligor must obtain the consent of the relevant counterparty (or any other person) prior to that Obligor granting security over its rights under that Project Document, that Obligor must use reasonable endeavours to procure a Consent Document in respect of that Project Document of that Obligor.
(b) Subject to clause 8.25(d) below, an Obligor's obligation to use reasonable endeavours under clause 8.25(a) and clause 8.25(c) will require the Obligor to:
(1) approach the counterparty to request the Consent Document and consent to that Obligor granting an Encumbrance in respect of the relevant Project Document; and
(2) promptly after a request is made by the Agent, provide information in relation to the progress of the matter.
(c) Each Obligor must use reasonable endeavours to ensure that any Material Project Document, Project Tenement and Cypress Project Tenement that an Obligor enters into after the date of Financial Close permits the granting of security over that document or, if such document requires consent to granting security over it, for a period of up to [***] days after it enters into that Material Project Document, Project Tenement or Cypress Project Tenement (as the case may be), use reasonable endeavours to ensure that such consent is obtained and a Consent Document is procured.
(d) An Obligor's obligation to use reasonable endeavours under clause 8.25(a) and clause 8.25(c) will not require the Obligor to:
(1) incur any material fees or third party costs which are disproportionate to the improvement in the value of the Secured Property (taken as a whole);
(2) incur or suffer (or create a material risk of incurring or suffering) any commercial detriment to it, its business, another Obligor or the business of the Obligors (taken as a whole);
(3) act to its commercial detriment, or to the commercial detriment of another Obligor (including, without limitation, making any material amendment to the relevant Project Document in order to obtain such consent); or
(4) continue to attempt to obtain consent if, in that Obligor’s reasonable opinion there is no reasonable prospect that the counterparty will give such consent.
Consent to Security. 2.1.1 The Generator hereby gives notice to the Offtaker that, under or pursuant to the Security Documents, the Generator has assigned or charged by way of security to the Security Trustee its rights, title and interest in and to the Contract.
2.1.2 The Offtaker acknowledges receipt of notice of, and consents to, the grant of the security interests referred to in paragraph 2.1.1 above.
2.1.3 The Offtaker acknowledges that neither the Security Trustee nor any Finance Party shall have any obligations or liabilities to the Offtaker (whether in place of the Generator or otherwise) in respect of the Contract as a result of any security interest created under the Security Documents except to the extent that the Security Trustee or such Finance Party incurs such obligations or liabilities pursuant to Clause 6 (Step- In), Clause 7 (Step-In Period), Clause 8 (Step-Out) or Clause 9 (Novation).
Consent to Security. 3.1 The Contractor hereby consents to the Borrower's assignment by way of security under the Security Agreement of the STS Crane Supply Contract Security Interests and hereby acknowledge receipt of the notice of such assignment.
3.2 The Contractor confirms to the Security Trustee that it has not received notice of any other assignment or charge by the Borrower to any third party of any of its right, title, benefit or interest under the Relevant Documents.
