Common use of No Provisions Prohibiting Assignment of Government Contracts Clause in Contracts

No Provisions Prohibiting Assignment of Government Contracts. Debtor shall take the necessary or appropriate steps to ensure that each Government Contract (i) does not and will not contain any provision prohibiting assignment thereof as provided herein, (ii) contains a “no set-off” clause or does not permit any set-off against or reduction of the obligation to make payments thereunder for liability of the Debtor to the government because of re-negotiation, fine, penalty (other than as specifically permitted by the federal Assignment of Claims Act with respect to Government Contracts with the federal government), taxes, social security contributions, or withholding or failing to withhold taxes, social security contributions or similar amounts, whether arising from or independent of the Government Contract. Immediately upon learning thereof, the Debtor shall promptly notify the Secured Party of any claimed set-off or reduction or the disallowance of progress payment requests.

Appears in 2 contracts

Samples: Favrille Inc, Favrille Inc

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No Provisions Prohibiting Assignment of Government Contracts. Debtor shall take Take the necessary or appropriate steps to ensure that each Government Contract (i) does dxxx not and will not contain any provision prohibiting assignment thereof as provided herein, (ii) contains a “no set-offclause or does not permit any set-off against or reduction of the obligation to make payments thereunder for liability of the Debtor to the government because of re-negotiationrenegotiation, fine, penalty (other than as specifically permitted by the federal Assignment of Claims Act with respect to Government Contracts with the federal government), taxes, social security contributions, or withholding or failing to withhold taxes, social security contributions or similar amounts, whether arising from or independent of the Government Contract. Immediately upon learning thereof, the The Debtor shall promptly notify the Secured Party of any claimed set-off or reduction or the disallowance of progress payment requests.

Appears in 1 contract

Samples: Master Security Agreement (Omeros Corp)

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No Provisions Prohibiting Assignment of Government Contracts. Debtor shall take Take the necessary or appropriate steps to ensure that each Government Contract (i) does not and will not contain any provision prohibiting assignment thereof as provided herein, (ii) contains a "no set-off" clause or does not permit any set-off against or reduction of the obligation to make payments thereunder for liability of the Debtor to the government because of re-negotiation, fine, penalty (other than as specifically permitted by the federal Assignment of Claims Act with respect to Government Contracts with the federal government), taxes, social security contributions, or withholding or failing to withhold taxes, social security contributions or similar amounts, whether arising from or independent of the Government Contract. Immediately upon learning thereof, the The Debtor shall promptly notify the Secured Party of any claimed set-off or reduction or the disallowance of progress payment requests.

Appears in 1 contract

Samples: Master Security Agreement (Alsius Corp)

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