Payments to Assignee. (i) Owner shall direct and pay to Assignee upon demand all payments under the HAP contract to which Assignee is entitled. Owner also agrees that in the event it does not transfer any payments received by Owner under the HAP contract to Assignee within three business days of its receipt of such payments from HUD [or HFA] it shall constitute an Event of Default under the Loan Documents for which Owner shall be personally liable to the extent of the HAP payments received.
Payments to Assignee. Assignor shall remit Periodic Payments and Guaranteed Residual Value payments to Assignee each month for each item of Paper on the due date per Exhibit 2 whether or not the Customer has made such payment to Assignor and regardless of any claims or defenses that Customer may have against any party; provided that Assignor shall have no obligation to make an Unreimbursed Advance with respect to a Lease Transaction if: (i) the Lease Transaction is more than one hundred twenty (120) days past due, or (ii) if by making such Unreimbursed Advance, the Loss Liability Balance would be exceeded. If Assignor makes an Unreimbursed Advance and the related Lease Transaction is determined to be a Loss: (i) such Unreimbursed Advance shall be credited towards Assignor's obligation to reimburse Assignee for Losses up to the then Loss Liability Balance; and (ii) if such Unreimbursed Advance would result in Assignee receiving more than the then applicable Loss Liability Balance, Assignee shall promptly return to Assignor such excess amount.
Payments to Assignee. [***] and Assignee agree that, from and after the Effective Date, all Rent and other payments (including, without limitation, Agreed Value) due from [***] under the Lease Agreement will be made to the Assignee’s bank account set out in Schedule 3 to this Agreement.
Payments to Assignee. Without limiting any other provision of this Assignment, upon the occurrence and during the continuance of an Event of Default, Assignor hereby specifically authorizes and directs each applicable counterparty to any Material Project Document upon five (5) Business Days’ prior written notice to it by Assignee to make all payments due under or arising under each Material Project Document directly to Assignee and hereby irrevocably authorizes and empowers Assignee to request, demand, receive, and give acquittance for any and all amounts which may be or become due or payable or remain unpaid at any time and times to Assignor by any applicable counterparty to any Material Project Document under and pursuant to a Material Project Document, and to endorse any checks, drafts or other orders for the payment of money payable to Assignor in payment thereof, and in Assignee’s sole discretion to file any claims or take any action or proceeding, either in its own name or in the name of Assignor or otherwise, which Assignee may deem appropriate for purposes of collecting any such moneys due. Assignee shall endeavor in good faith to provide Assignor prompt written notice of Assignee’s exercise of any of its rights described in the foregoing sentence; provided, however, that such failure by Assignee to provide such notice shall not limit or impair any of Assignee’s rights under this Assignment and Assignee shall have no liability as a result of such failure. It is expressly understood and agreed, however, that Assignee shall not be required or obligated in any manner to make any demand or to make any inquiry as to the nature or sufficiency of any payment received by it, or to present or file any claim or take any other action to collect or enforce the payment of any amounts which may have been assigned to Assignee or to which Assignee may be entitled hereunder at any time or times.
Payments to Assignee
