Common use of Exclusive Rights of Owner Clause in Contracts

Exclusive Rights of Owner. (a) Owner’s right, title and interest into the payments of Periodic Repayment Amounts, as described herein, shall be the sole and exclusive property of Owner (or its Transferee) and no other third party shall have any claim or right to such funds unless Owner transfers its rights to its Unpaid Balance to a Transferee in writing and otherwise in accordance with the requirements set forth herein. (b) Subject to the terms of Section 17 hereof, Owner has the right to convey, transfer, assign, mortgage, pledge, or otherwise encumber, in whole or in part, all or any portion of Owner’s right, title, or interest under this Agreement including, but not limited to, any right, title or interest of Owner in and to payment of its Unpaid Balance (a “Transfer,” and the person or entity to whom the transfer is made, a “Transferee”); provided, however, that no such conveyance, transfer, assignment, mortgage, pledge, or other encumbrance shall be made without prior written approval of the City Council if such conveyance, transfer, assignment, mortgage, pledge, or other encumbrance would result in the issuance of municipal securities by any other state of the United States or political subdivision thereof. (c) Notwithstanding the foregoing, no Transfer or Assignment shall be effective until written notice of the Transfer, including (1) the name and address of the Transferee and (2) a representation by the Owner that the Transfer does not and will not result in the issuance of municipal securities by any other state of the United States or political subdivision thereof, is provided to the City. (d) Any assignment or transfer of this Agreement is subject to the terms of this paragraph 16 and paragraph 17 of this Agreement and to Section 8.03 of the PID Financing Agreement as if it were the PID Financing Agreement or as a right thereunder. (e) The City may rely conclusively on any written notice of a Transfer provided by Owner without any obligation to investigate or confirm the Transfer.

Exclusive Rights of Owner. (a) Owner’s right, title and interest into the payments of Periodic Repayment Amountsthe Major Improvement Area Reimbursement Obligation (including any accrued and unpaid interest thereon), as described herein, shall be the sole and exclusive property of Owner (or its Transferee) and no other third party shall have any claim or right to such funds unless Owner transfers its rights to its Unpaid Balance Major Improvement Area Reimbursement Obligation (including any accrued and unpaid interest thereon) to a Transferee in writing and otherwise in accordance with the requirements set forth herein. (b) Subject to the terms of Section 17 hereof, . Owner has the right to convey, transfer, assign, mortgage, pledge, or otherwise encumber, in whole or in part, all or any portion of Owner’s right, title, or interest under this Reimbursement Agreement including, but not limited to, any right, title or interest of Owner in and to payment of its Unpaid Balance the Major Improvement Area Reimbursement Obligation plus any accrued and unpaid interest thereon (a “Transfer,” and the person or entity to whom the transfer is made, a “Transferee”); provided. Provided, however, that no such conveyance, transfer, assignment, mortgage, pledge, pledge or other encumbrance shall be made without the prior written approval of the City Council if such conveyance, transfer, assignment, mortgage, pledge, pledge or other encumbrance would result in the issuance payments hereunder being pledged to the payment of municipal debt service on public securities issued by any other state of the United States or political subdivision thereof. (c) . Notwithstanding the foregoing, no Transfer or Assignment shall be effective until written notice of the Transfer, including (1A) the name and address of the Transferee and (2B) a representation by the Owner that the Transfer does not and will not result in the issuance of municipal securities by any other state of the United States or political subdivision thereof, thereof is provided to the City. (d) Any assignment or transfer of this Agreement is subject to . The Owner agrees that the terms of this paragraph 16 and paragraph 17 of this Agreement and to Section 8.03 of the PID Financing Agreement as if it were the PID Financing Agreement or as a right thereunder. (e) The City may rely conclusively on any written notice of a Transfer provided by Owner without any obligation to investigate or confirm the Transfer.

Exclusive Rights of Owner. (a) Owner’s right, title and interest into the payments of Periodic Repayment Amountsthe Improvement Area Reimbursement Obligations (including any accrued and unpaid interest thereon), as described herein, shall be the sole and exclusive property of Owner (or its Transferee) and no other third party shall have any claim or right to such funds unless Owner transfers its rights to its Unpaid Balance Improvement Area Reimbursement Obligation (including any accrued and unpaid interest thereon) to a Transferee in writing and otherwise in accordance with the requirements set forth herein. (b) Subject to the terms of Section 17 hereof, . Owner has the right to convey, transfer, assign, mortgage, pledge, or otherwise encumber, in whole or in part, all or any portion of Owner’s right, title, or interest under this Reimbursement Agreement including, but not limited to, any right, title or interest of Owner in and to payment of its Unpaid Balance Improvement Area Reimbursement Obligation plus any accrued and unpaid interest thereon (a “Transfer,” and the person or entity to whom the transfer is made, a “Transferee”); provided. Provided, however, that no such conveyance, transfer, assignment, mortgage, pledge, pledge or other encumbrance shall be made without the prior written approval of the City Council if such conveyance, transfer, assignment, mortgage, pledge, pledge or other encumbrance would result in the issuance payments hereunder being pledged to the payment of municipal debt service on public securities issued by any other state of the United States or political subdivision thereof. (c) . Notwithstanding the foregoing, no Transfer or Assignment shall be effective until written notice of the Transfer, including (1A) the name and address of the Transferee and (2B) a representation by the Owner that the Transfer does not and will not result in the issuance of municipal securities by any other state of the United States or political subdivision thereof, thereof is provided to the City. (d) Any assignment or transfer of this Agreement is subject to . The Owner agrees that the terms of this paragraph 16 and paragraph 17 of this Agreement and to Section 8.03 of the PID Financing Agreement as if it were the PID Financing Agreement or as a right thereunder. (e) The City may rely conclusively on any written notice of a Transfer provided by Owner without any obligation to investigate or confirm the Transfer.

Exclusive Rights of Owner. (a) Owner’s right, title and interest into the payments of Periodic Repayment Amountsthe Improvement Area #3 Reimbursement Obligation (including any accrued and unpaid interest thereon), as described herein, shall be the sole and exclusive property of Owner (or its TransfereeTransferee (defined herein)) and no other third party shall have any claim or right to such funds unless Owner transfers its rights to its Unpaid Balance Improvement Area #3 Reimbursement Obligation (including any accrued and unpaid interest thereon) to a Transferee in writing and otherwise in accordance with the requirements set forth herein. (b) Subject to the terms of Section 17 hereof, . Owner has the right to convey, transfer, assign, mortgage, pledge, or otherwise encumber, in whole or in part, all or any portion of Owner’s right, title, or interest under this Reimbursement Agreement including, but not limited to, any right, title or interest of Owner in and to payment of its Unpaid Balance Improvement Area #3 Reimbursement Obligation plus any accrued and unpaid interest thereon (a “Transfer,” and the person or entity to whom the transfer is made, a “Transferee”); provided. Provided, however, that no such conveyance, transfer, assignment, mortgage, pledge, pledge or other encumbrance shall be made without the prior written approval of the City Council if such conveyance, transfer, assignment, mortgage, pledge, pledge or other encumbrance would result in the issuance payments hereunder being pledged to the payment of municipal debt service on public securities issued by any other state of the United States or political subdivision thereof. (c) . Notwithstanding the foregoing, no Transfer or Assignment shall be effective until written notice of the Transfer, including (1A) the name and address of the Transferee and (2B) a representation by the Owner that the Transfer does not and will not result in the issuance of municipal securities by any other state of the United States or political subdivision thereof, thereof is provided to the City. (d) Any assignment or transfer of this Agreement is subject to . The Owner agrees that the terms of this paragraph 16 and paragraph 17 of this Agreement and to Section 8.03 of the PID Financing Agreement as if it were the PID Financing Agreement or as a right thereunder. (e) The City may rely conclusively on any written notice of a Transfer provided by Owner without any obligation to investigate or confirm the Transfer.

Exclusive Rights of Owner. (a) Owner’s right, title and interest into the payments of Periodic Repayment Amountsthe Improvement Area #4 Reimbursement Obligation (including any accrued and unpaid interest thereon), as described herein, shall be the sole and exclusive property of Owner (or its TransfereeTransferee (defined herein)) and no other third party shall have any claim or right to such funds unless Owner transfers its rights to its Unpaid Balance Improvement Area #4 Reimbursement Obligation (including any accrued and unpaid interest thereon) to a Transferee in writing and otherwise in accordance with the requirements set forth herein. (b) Subject to the terms of Section 17 hereof, . Owner has the right to convey, transfer, assign, mortgage, pledge, or otherwise encumber, in whole or in part, all or any portion of Owner’s right, title, or interest under this Reimbursement Agreement including, but not limited to, any right, title or interest of Owner in and to payment of its Unpaid Balance Improvement Area #4 Reimbursement Obligation plus any accrued and unpaid interest thereon (a “Transfer,” and the person or entity to whom the transfer is made, a “Transferee”); provided. Provided, however, that no such conveyance, transfer, assignment, mortgage, pledge, pledge or other encumbrance shall be made without the prior written approval of the City Council if such conveyance, transfer, assignment, mortgage, pledge, pledge or other encumbrance would result in the issuance payments hereunder being pledged to the payment of municipal debt service on public securities issued by any other state of the United States or political subdivision thereof. (c) . Notwithstanding the foregoing, no Transfer or Assignment shall be effective until written notice of the Transfer, including (1A) the name and address of the Transferee and (2B) a representation by the Owner that the Transfer does not and will not result in the issuance of municipal securities by any other state of the United States or political subdivision thereof, thereof is provided to the City. (d) Any assignment or transfer of this Agreement is subject to . The Owner agrees that the terms of this paragraph 16 and paragraph 17 of this Agreement and to Section 8.03 of the PID Financing Agreement as if it were the PID Financing Agreement or as a right thereunder. (e) The City may rely conclusively on any written notice of a Transfer provided by Owner without any obligation to investigate or confirm the Transfer.