Common use of Pledge of Revenues; Assignment of Rights Clause in Contracts

Pledge of Revenues; Assignment of Rights. Subject to the provisions of‌ Section 6.03, the Bonds shall be secured by a first lien on and pledge (which shall be effected in the manner and to the extent hereinafter provided) of all of the Revenues and a pledge of all of the moneys in the funds and accounts established and held by the Trustee under this Indenture (other than the Rebate Fund). The Bonds shall be equally secured by a pledge, charge and lien upon the Revenues and such moneys without priority for number, date of the Bonds, date of execution or date of delivery; and the payment of the interest on and principal of the Bonds shall be and are secured by an exclusive pledge, charge and lien upon the Revenues and such moneys. So long as any of the Bonds are Outstanding, the Revenues and such moneys shall not be used for any other purpose; except that out of the Revenues there may be apportioned such sums, for such purposes, as are expressly permitted by this Indenture. Pursuant to Section 5451 of the California Government Code as in effect on the date hereof, this Indenture creates a valid and binding pledge of, lien on and security interest in the Revenues for the benefit of the Trustee as security for the payment of the Bonds in accordance with the terms hereof, and such pledge, lien and security interest shall be effective, binding and enforceable against the Issuer to the extent set forth herein and in accordance with the terms hereof. The Authority hereby transfers in trust and absolutely and irrevocably assigns to the Trustee, for the benefit of the Owners from time to time of the Bonds, all of the Revenues and all of the right, title and interest of the Authority in the Lease and the Site Lease (except for the Authority’s right to indemnification under the Lease and the Site Lease, which right shall not be assigned); and the Trustee hereby accepts such assignment. The Trustee shall be entitled to and shall receive all of the Revenues, and any Revenues collected or received by the Authority shall be deemed to be held, and to have been collected or received, by the Authority as the agent of the Trustee and shall forthwith be paid by the Authority to the Trustee.

Pledge of Revenues; Assignment of Rights. Subject to the provisions of‌ of Section 6.03, the Bonds shall be secured by a first lien on and pledge (which shall be effected in In the manner and to the extent hereinafter provided) of all of the Revenues and a pledge of all of the moneys in the funds Interest Account and accounts established and held by the Trustee under this Indenture (other than Principal Account, including all amounts derived from the Rebate Fund)investment of such moneys. The Bonds shall be equally secured by a pledge, charge and lien upon the Revenues and such moneys without priority for number, date of the Bonds, date of execution or date of delivery; and the payment of the interest on and principal of the Bonds and any premiums upon the redemption of any portion thereof shall be and are secured by an exclusive pledge, charge and lien upon the Revenues and such moneys. So long as any of the Bonds are Outstanding, the Revenues and such moneys shall not be used for any other purpose; except that out of the Revenues there may be apportioned such sums, for such purposes, as are expressly permitted by this Indenture. Pursuant to Section 5451 of the California Government Code as in effect on the date hereof, this Indenture creates a valid and binding pledge of, lien on and security interest in the Revenues for the benefit of the Trustee as security for the payment of the Bonds in accordance with the terms hereof, and such pledge, lien and security interest shall be effective, binding and enforceable against the Issuer to the extent set forth herein and in accordance with the terms hereof4.02. The Authority hereby transfers in trust and absolutely and irrevocably assigns to the Trustee, for the benefit of the Owners from time to time of the Bonds, all of the Revenues and all of the right, title and interest of the Authority in the Lease Installment Sale Agreement, including its rights to receive the Installment Payments scheduled to be paid by the City under and pursuant to the Site Lease (except for Installment Sale Agreement and any and all of the Authority’s right to indemnification other rights of the Authority under the Lease and Installment Sale Agreement as may be necessary to enforce payment of such Installment Payments when due or otherwise to protect the Site Lease, which right shall not be assigned); and interest of the Owners of the Bonds. The Trustee hereby accepts such assignmentassignments. The Subject to the provisions of this Indenture, the Trustee shall be entitled to and shall receive all of the Revenues, and any Revenues collected or received by the Authority shall be deemed to be held, and to have been collected or received, by the Authority as the agent of the Trustee and shall forthwith be paid by the Authority to the Trustee.

Pledge of Revenues; Assignment of Rights. Subject to the provisions of‌ of Section 6.036.03 (certain Trustee fees), the Bonds shall be secured by a first lien on and pledge (which shall be effected in the manner and to the extent hereinafter provided) of all of the Revenues and a pledge of all of the moneys in the funds and accounts established and held by Lease Revenue Fund, including all amounts derived from the Trustee under this Indenture (other than the Rebate Fund)investments of such moneys. The Bonds shall be equally secured by a pledge, charge and lien upon the Revenues and such moneys without priority for number, date of the Bonds, date of execution or date of delivery; and the payment of the interest on and principal of the Bonds and any premiums upon the redemption of any portion thereof shall be and are secured by an exclusive pledge, charge and lien upon the Revenues and such moneys. So long as any of the Bonds are Outstanding, the Revenues and such moneys shall not be used for any other purpose; except that out of the Revenues and such moneys there may be apportioned such sums, for such purposes, as are expressly permitted by this IndentureSection 4.02. Pursuant to Section 5451 of the California Government Code as in effect on Assignment Agreement, the date hereof, this Indenture creates a valid and binding pledge of, lien on and security interest in the Revenues for the benefit of the Trustee as security for the payment of the Bonds in accordance with the terms hereof, and such pledge, lien and security interest shall be effective, binding and enforceable against the Issuer to the extent set forth herein and in accordance with the terms hereof. The Authority hereby transfers has transferred in trust and absolutely and irrevocably assigns to the Trustee, for the benefit of the Owners from time to time of the Bonds, all of the Revenues and all of the right, title and interest of the Authority in (but not of its obligations under) the Lease and the Site Lease Sublease (except for the Authority’s right other than its rights to indemnification and payment or reimbursement for any costs or expenses), including its rights to receive the Base Rental scheduled to be paid by the City under and pursuant to the Sublease and any and all of the other rights of the Authority under the Lease and the Site LeaseSublease as may be necessary to enforce payment of such Base Rental when due or otherwise to protect the interest of the Owners of the Bonds, which right shall not be assigned); and including its leasehold title to the Leased Properties leased to the City pursuant to the Sublease. The Trustee hereby accepts such assignmentassignments. The Trustee shall be entitled to and shall receive all of the Revenues, and any Revenues collected or received by the Authority shall be deemed to be held, and to have been collected or received, by the Authority as the agent of the Trustee and shall forthwith promptly be paid by the Authority to the Trustee.

Pledge of Revenues; Assignment of Rights. Subject to the provisions of‌ of Section 6.03, the Bonds shall be secured by a first lien on and pledge (which shall be effected in the manner and to the extent hereinafter provided) of all of the Revenues and a pledge of all of the moneys in the funds Interest Account, the Principal Account and accounts established and held by the Trustee under this Indenture (other than Reserve Account, including all amounts derived from the Rebate Fund)investment of such moneys. The Bonds shall be equally secured by a pledge, charge and lien upon the Revenues and such moneys without priority for number, date of the Bonds, date of execution or date of delivery; and the payment of the interest on and principal of the Bonds and any premiums upon the redemption of any portion thereof shall be and are secured by an exclusive pledge, charge and lien upon the Revenues and such moneys. So long as any of the Bonds are Outstanding, the Revenues and such moneys shall not be used for any other purpose; except that out of the Revenues there may be apportioned such sums, for such purposes, as are expressly permitted by this Indenture. Pursuant to Section 5451 of the California Government Code as in effect on the date hereof, this Indenture creates a valid and binding pledge of, lien on and security interest in the Revenues for the benefit of the Trustee as security for the payment of the Bonds in accordance with the terms hereof, and such pledge, lien and security interest shall be effective, binding and enforceable against the Issuer to the extent set forth herein and in accordance with the terms hereof4.02. The Authority Agency hereby transfers in trust and absolutely and irrevocably assigns to the Trustee, for the benefit of the Owners from time to time of the Bonds, all of the Revenues and all of the right, title and interest of the Authority Agency in the Lease, including its rights to receive the Base Rental Payments scheduled to be paid by the City under and pursuant to the Lease and any and all of the Site Lease (except for other rights of the Authority’s right to indemnification Agency under the Lease and as may be necessary to enforce payment of such Base Rental Payments when due or otherwise to protect the Site interest of the Owners of the Bonds, including its leasehold title to the Leased Property leased to the City pursuant to the Lease, which right shall not be assigned); and the . The Trustee hereby accepts such assignmentassignments. The Subject to the provisions of this Indenture, the Trustee shall be entitled to and shall receive all of the Revenues, and any Revenues collected or received by the Authority Agency shall be deemed to be held, and to have been collected or received, by the Authority Agency as the agent of the Trustee and shall forthwith be paid by the Authority Agency to the Trustee. The Agency covenants and agrees to take such action as is necessary from time to time to preserve the priority of the pledge set forth in this Section 4.01 under applicable law, and at the expense of the Agency or the City and the Trustee shall cooperate with the Agency and/or the City in taking such action. This Indenture shall be supplemented pursuant to a Supplemental Indenture to pledge revenues from additional base rental payments under the Lease for any Series of Additional Bonds.

Pledge of Revenues; Assignment of Rights. Subject to the provisions of‌ Section 6.03of Sections 6.3 and 9.3 hereof, the Authority Bonds shall be secured by a first lien on and pledge (which shall be effected in the manner and to the extent hereinafter provided) of all of the Revenues and a pledge of all of the moneys in the funds and accounts established and held by the Trustee under this Indenture (other than the Rebate Fund)Revenues. The Authority Bonds shall be equally secured by a pledge, charge and lien upon the Revenues and such moneys without priority for number, date of the Bonds, date of execution or date of deliveryany Authority Bond over any other Authority Bond; and the payment of the interest on and principal of the Authority Bonds and any premiums upon the redemption of any Authority Bonds shall be and are secured by an exclusive pledge, charge and lien upon the Revenues and such moneysRevenues. So long as any of the Authority Bonds are Outstanding, the Revenues and such moneys shall not be used for any other purpose; purpose except that out of the Revenues there may be apportioned such sums, for such purposes, as are is expressly permitted by this Indenture. Pursuant to Section 5451 of the California Government Code as in effect on the date hereof, this Indenture creates a valid and binding pledge of, lien on and security interest in the Revenues for the benefit of the Trustee as security for the payment of the Bonds in accordance with the terms hereof, and such pledge, lien and security interest shall be effective, binding and enforceable against the Issuer to the extent set forth herein and in accordance with the terms hereof. The Authority hereby transfers in trust trust, grants a security interest in and absolutely and irrevocably assigns to the Trustee, for the benefit of the Owners from time to time of the Authority Bonds, all of the Revenues and all of the right, title and interest of the Authority in the Lease and Reassessment Bonds, subject to the Site Lease (except for the Authority’s right to indemnification under the Lease and the Site Lease, which right shall not be assigned); and the Trustee hereby accepts such assignmentterms of this Indenture. The Trustee shall be entitled to and shall collect and receive all of the Revenues, and any Revenues collected or received by the Authority shall be deemed to be held, and to have been collected or received, by the Authority as the agent of the Trustee and shall forthwith be paid by the Authority to the Trustee. Subject to the provisions of Section 8.2, the Trustee also shall be entitled to and shall take all steps, actions and proceedings reasonably necessary in its judgment to enforce, either jointly with the Authority or separately, all of the rights of the Authority and all of the obligations of the Town under the Reassessment Bonds. Upon the deposit with the Trustee of moneys sufficient to pay all principal of, premium, if any, and interest on the Authority Bonds, and upon satisfaction of all claims against the Authority hereunder with respect to the Authority Bonds including all fees, charges and expenses of the Trustee and the Authority which are properly payable hereunder, or upon the making of adequate provisions for the payment of such amounts as permitted hereby, all moneys remaining in all funds and accounts pertaining to the Authority Bonds (except any amounts on deposit in the Rebate Fund and except moneys necessary to pay principal of, premium, if any, and interest on the Authority Bonds, which moneys shall be held by the Trustee pursuant to Section 9.3), shall be paid to the Town free of the lien of this Indenture.