Common use of Consent to Security Clause in Contracts

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. 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 DBFO Agreement; (b) acknowledges and agrees that section 22.1 of the DBFM DBFO 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 DBFO Agreement or any documents, instruments or letters of credit contemplated in or arising out of the DBFM DBFO 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 DBFO Agreement and to Sections 2.16 and 2.17 below, the enforcement of any such security by the Lender.Sections

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 Payment and any Termination Payment or other payment becoming due by the Province to the Contractor under the DBFM DBFO Agreement; (b) acknowledges and agrees that section 22.1 of the DBFM DBFO 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 DBFO Agreement or any documents, instruments or letters of credit contemplated in or arising out of the DBFM DBFO 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 DBFO Agreement and to Sections 2.16 and 2.17 below, the enforcement of any such security by the Lender.

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 Payment and any Termination Payment or other payment becoming due by the Province to the Contractor under the DBFM DBFO Agreement; (b) acknowledges and agrees that section Section 22.1 of the DBFM DBFO 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 DBFO Agreement or any documents, instruments or letters of credit contemplated in or arising out of the DBFM DBFO Agreement or to the perfection of such security interests; and (c) acknowledges that, except for the consent referred to in Section 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 Section 22.1 of the DBFM Agreement and to Sections 2.16 and 2.17 belowDBFO Agreement, the enforcement of any such security by the Lender.

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 DBFO Agreement; (b) acknowledges and agrees that section 22.1 of the DBFM DBFO 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 DBFO Agreement or any documents, instruments or letters of credit contemplated in or arising out of the DBFM DBFO 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 DBFO Agreement and to Sections 2.16 and 2.17 below, the enforcement of any such security by the Lender.