Recognition of Assignment. The Partnership will not recognize for any purpose any assignment of any Interest unless (i) there shall have been filed with the Partnership a duly executed and acknowledged counterpart of the instrument making such assignment signed by both the assignor and the assignee and such instrument evidences, inter alia, the written acceptance by the assignee of all of the terms and provisions of this Agreement and represents that such assignment was made in accordance with all applicable laws and regulations (including investment suitability standards) and (ii) the General Partner (or any replacement therefor) has determined that such an assignment is permitted under this Article 8. Irrespective of whether or not any successor to a Partner or a purported assignee of a Partner’s Interest hereunder provides the aforesaid instruments, any such Person shall be bound by the terms and provisions of this Agreement. As a condition to any voluntary assignment of an Interest, the General Partner (or any replacement therefor) may require that the assignor or the assignee of the Interest or their respective representatives provide to the Partnership information that is reasonably requested by counsel to the Partnership to enable such counsel to determine that such assignment is not prohibited by this Article 8.
Recognition of Assignment. Agent recognizes the security interest granted in this Agreement, whereby Insured assigns to BankDirect all unearned premiums, dividends and certain loss payments. Upon cancellation of any of the Policies, Agent agrees to pay BankDirect all unearned commissions and unearned premiums upon receipt. If such funds are not remitted to BankDirect within ten (10) days of receipt by Agent, Agent agrees to pay BankDirect interest on such funds at the maximum rate permitted under applicable law. Agent shall not deduct any amounts which Insured owes to Agent from any amounts owing to BankDirect hereunder.
Recognition of Assignment. The Agent recognizes the security interest granted in this Agreement, whereby the Insured assigns to SPFC all unearned premiums, dividends and certain loss payments. Upon cancellation of any of the Policies, the Agent agrees to hold in trust for SPFC any payments made or credited to the insured through or to the Agent directly or indirectly, actually or constructively by the insurance companies and to pay the monies, as well as the unearned commissions to SPFC upon demand to satisfy the outstanding indebtedness of the insured. If such funds are not remitted to SPFC within ten (10) days of receipt by the Agent, the Agent agrees to pay SPFC interest on such funds at the maximum rate permitted under applicable law. Agent shall not deduct any amounts which Insured owes to Agent from any amounts owing to SPFC hereunder.
Recognition of Assignment. The Administrative Agent shall have received executed written instruments satisfactory to the Administrative Agent, Trustee and the Lenders pursuant to which each of the Architect and the Prime Contractor for such Facility shall have agreed to perform its respective obligations under the applicable Construction Documents to which it is a party for the benefit of Trustee and the Lenders, when and if Trustee and the Lenders shall exercise their rights under the applicable Construction Documents Assignment.
Recognition of Assignment. The Architect and the Prime Contractor shall have each executed written instruments reasonably satisfactory to the Certificate Trustee, the Certificate Purchaser and the Construction Lender pursuant to which each of the Architect and the Prime Contractor shall have agreed to perform its obligations under the Construction Documents to which it is a party for the benefit of the Certificate Trustee or the Construction Lender, when and if the Certificate Trustee or the Construction Lender shall exercise their rights under the Construction Documents Assignment.
Recognition of Assignment. The Parties recognize that, in accordance with section 36.1 of the Agreement, the Agreement was assigned from Transportation Research Center, Inc. to TRC CA, LLC, a wholly owned subsidiary of Transportation Research Center, Inc., on June 17, 2021.
