Security for Financing. 18.6.1 Notwithstanding the foregoing, a Seller may at any time (upon giving the Buyer not less than thirty (30) days prior notice thereof) assign its rights to the receipt of any monies due or to become due from the Buyer to it under this Agreement to or in favor of banks, bona fide financial entities or other lenders (in this Article 18.6 together called “Banks”) as security for any financing, provided that the Buyer shall not be required or entitled to act on such assignment and make payment to the Banks unless:
(a) the assignment contains an acknowledgement from the Banks that their rights to receive monies under the assignment are subject to the terms of this Agreement; and
(b) the Seller has provided the Buyer with a certified copy of an extract (referring to the above acknowledgement) from such assignment; and
(c) the Seller has confirmed to the Buyer that the Buyer shall be entitled to rely on the receipt by such Banks of any monies paid by the Buyer to such Banks pursuant to such assignment as being due payment to the Seller hereunder.
18.6.2 The authority given by the Seller to the Buyer (consequent upon an assignment which has been made under the provisions of Article 18.
6.1) to make payment of monies due hereunder to the Banks may be revoked by a notice given to the Buyer by the Seller which complies with the provisions of Article 11.4 and which expressly revokes such authority.
18.6.3 Notwithstanding the foregoing, a Seller may at any time (upon giving the Buyer not less than thirty (30) day prior notice thereof) create, subject to the terms of this Article 18.6.3, any security over all or any of its rights under this Agreement (the “Charged Assets”) (except for the creation of security in respect of its rights hereunder to receive monies in respect of which rights the terms of Article 18.6.1 apply in relation to creation of security), the Seller’s Interest, the Seller’s Percentage of the Sellers’ Agreements and/or its interest in the Sellers’ Facilities in favor of Banks as security for any financing, but the creation of such security over the Charged Assets shall only be permitted and be effective against the Buyer if at the time of the creation of the security over the Charged Assets, such Banks shall covenant directly with the Buyer (i) to procure that upon the enforcement of such security, they or any receiver appointed pursuant to the instrument creating the security or other Person enforcing the security or having control over the Charg...
Security for Financing. Title to the property described in paragraph (f) of the clause at FAR 52.232-32, Performance-Based Payments, is the preferred security for receipt of performance-based payments.
Security for Financing. (1) Title to the property described in paragraph (f) of the clause at FAR 52.232-32, Performance-Based Payments, is the preferred security for receipt of performance-based payments.
(2) (i) If the Contractor's accounting system is not capable of identifying and tracking through the build cycle the property that is allocable and properly chargeable to this contract, the Contracting Officer may consider acceptance of one or a combination of the following alternative forms of security sufficient to constitute adequate security for the performance-based payments and so specify in the contract, consistent with FAR 32.202-4:
(A) A paramount lien on assets.
(B) An irrevocable letter of credit from a federally insured financial institution.
(C) A bond from a surety, acceptable in accordance with FAR part 28.
(D) A guarantee of repayment from a person or corporation of demonstrated liquid net worth, connected by significant ownership interest to the Contractor.
(E) Title to identified Contractor assets of adequate worth.
Security for Financing. 8.1 The debt investment hereunder is an investment secured.
8.2 The security agreement shall be entered into separately between the Project Manager or its branch on behalf of the Investor and the Applicants.
Security for Financing. It is anticipated that the value of the Company's interests in Wynn Hong Kong, the interests of Wynn Hong Kong in Xxxx Macau, and the interests of Xxxx Macau in land and work in progress on the casino resort in the MSAR or any additional casino or casinos will provide sufficient security for any debt financing described in Section 5.8, but if additional security is required, such security, including, without limitation, Shares, shall be provided by the Shareholders, in proportion to their holdings of Shares. In the event that Xxxx is required to provide security for financing of Xxxx Macau pursuant to Section 4.3 of the Xxxx Macau Shareholders' Agreement, the obligation of SHW to provide security under this Section 5.9 shall be correspondingly reduced by the amount of security so provided.
Security for Financing. It is anticipated that the value of the Site together with work in progress on the Casino or any other activities of the Company will provide sufficient security for any debt financing described in Section 4.2, but if additional security is required, such security, including, without limitation, Shares, shall be provided by the Shareholders, in proportion to their holdings of Shares.
Security for Financing a. Tenant acknowledges that this Agreement and its obligations hereunder may become a source of repayment for any of Landlord’s financing of the Premises. Tenant does not prohibit Landlord from pledging or assigning the rents payable by Tenant hereunder as security for such financing so long as the pledge or assignment does not exceed beyond the Term of this Agreement. Tenant will affirmatively acknowledge the rights of any lender or other party in connection with such financing to the extent permitted by law.
b. Notwithstanding the foregoing, Landlord represents and acknowledges that the Building, this Agreement, or the rents payable hereunder shall not be pledged or used as security for any publicly issued bond debt, whether issued by a public, quasi-public, or private entity, without Xxxxxx’s written approval which may be withheld in at Tenant’s sole discretion.
