Common use of Rights Under Agreement Clause in Contracts

Rights Under Agreement. The Authority and the Borrower agree that the Bank may, as owner of the Bond, in its own name or to the extent permitted by law in the name of the Authority, enforce all rights of the Authority and all obligations of the Borrower under and pursuant to this Agreement (except the Reserved Rights of the Authority, and the obligations of the Borrower related thereto, that are not assigned for the benefit of the Bank as specified in Section 10.6 hereof) for and on behalf of the Bank, whether or not the Authority is in default hereunder.

Rights Under Agreement. The Authority Issuer and the Borrower agree that the Bank may, as owner of the Bond, in its own name or to the extent permitted by law in the name of the AuthorityIssuer, enforce all rights of the Authority Issuer and all obligations of the Borrower under and pursuant to this Agreement (except the Reserved Rights of the AuthorityIssuer, and the obligations of the Borrower related thereto, that are not assigned for the benefit of the Bank as specified in Section 10.6 hereof) for and on behalf of the Bank, whether or not the Authority Issuer is in default hereunder.