Common use of Permitted assignment and charges Clause in Contracts

Permitted assignment and charges. 27.2.1 The restraints set forth in Articles 27.1 shall not apply to: a) liens arising by operation of law (or by an agreement evidencing the same) in the ordinary course of business of the Project; b) sub-license or sub-lease of Project Facilities; c) mortgages/pledges/hypothecation of Project Facilities, and their related documents of title, arising or created in the ordinary course of business of the Project, and as security only for indebtedness to the Senior Lenders under the Financing Agreements and/or for working capital arrangements for the Project, as permitted by the provisions of this Agreement; d) Mortgage/pledges of rights, benefits, entitlements (including the Project Revenues) of the Concessionaire pursuant to the Concession Agreement and the Lease Deed, as security only for indebtedness to the Senior Lenders under the Financing Agreements and/or for working capital arrangements for the Project; and e) liens or encumbrances required by any Applicable Law.