Lender Security. NGrid agrees, if requested by Athens, to enter into an agreement (in form and substance reasonably acceptable to NGrid) with any Athens Finance Holder(s) (a “Collateral Assignment Consent”), pursuant to which NGrid will acknowledge the creation of security over Athens' rights under this Agreement and agree that, upon breach of this Agreement or any loan documents by Athens, such Athens Finance Holder shall: (i) have the right within a reasonable period of time as specified therein to cure any breach of this Agreement complained of, provided the Athens Finance Holder agrees to perform Athens' obligations under the Agreement during the cure period; and (ii) have the right, upon payment of all outstanding amounts due and payable to NGrid, to assume (or cause its designee to assume) all the rights and obligations of Athens under this Agreement. The foregoing notwithstanding, NGrid shall not be obligated to enter into any Collateral Assignment Consent that amends or purports to amend any term or condition of this Agreement, or that imposes or seek to impose any obligations or responsibilities on NGrid, other than as specifically set forth in (i) and (ii), above
Appears in 7 contracts
Samples: Special Protection System Engineering, Construction and Implementation Agreement, Special Protection System Engineering, Construction and Implementation Agreement, Special Protection System Engineering, Construction and Implementation Agreement
Lender Security. NGrid agrees, if requested by Athens, to enter into an agreement (in form and substance reasonably acceptable to NGrid) with any Athens Finance Holder(s) (a “Collateral Assignment Consent”), pursuant to which NGrid will acknowledge the creation of security over Athens' rights under this Agreement and agree that, upon breach of this Agreement or any loan documents by Athens, such Athens Finance Holder shall:
(i) have the right within a reasonable period of time as specified therein to cure any breach of this Agreement complained of, provided the Athens Finance Holder Xxxxxx agrees to perform Athens' obligations under the Agreement during the cure period; and
(ii) have the right, upon payment of all outstanding amounts due and payable to NGrid, to assume (or cause its designee to assume) all the rights and obligations of Athens under this Agreement. The foregoing notwithstanding, NGrid shall not be obligated to enter into any Collateral Assignment Consent that amends or purports to amend any term or condition of this Agreement, or that imposes or seek to impose any obligations or responsibilities on NGrid, other than as specifically set forth in (i) and (ii), above
Appears in 4 contracts
Samples: Special Protection System Engineering, Construction and Implementation Agreement, Special Protection System Engineering, Construction and Implementation Agreement, Special Protection System Engineering, Construction and Implementation Agreement
Lender Security. NGrid XXxxx agrees, if requested by Athens, to enter into an agreement (in form and substance reasonably acceptable to NGrid) with any Athens Finance Holder(s) (a “Collateral Assignment Consent”), pursuant to which NGrid will acknowledge the creation of security over Athens' rights under this Agreement and agree that, upon breach of this Agreement or any loan documents by Athens, such Athens Finance Holder shall:
(i) have the right within a reasonable period of time as specified therein to cure any breach of this Agreement complained of, provided the Athens Finance Holder Xxxxxx agrees to perform Athens' obligations under the Agreement during the cure period; and
(ii) have the right, upon payment of all outstanding amounts due and payable to NGrid, to assume (or cause its designee to assume) all the rights and obligations of Athens under this Agreement. The foregoing notwithstanding, NGrid shall not be obligated to enter into any Collateral Assignment Consent that amends or purports to amend any term or condition of this Agreement, or that imposes or seek to impose any obligations or responsibilities on NGrid, other than as specifically set forth in (i) and (ii), above
Appears in 1 contract
Samples: Special Protection System Engineering, Construction and Implementation Agreement