Security Interest in Contract Rights Sample Clauses

Security Interest in Contract Rights. The Partnership's grant, pursuant to SECTION 2.1 (Assignment and Grant of Security Interest), to the Collateral Agent, of a security interest in all of its right, title and interest in and to each and all of the Contracts and the contract rights thereunder, includes, but is not limited to: (i) all (A) rights to payment under any Contract and (B) payments due and to become due under any Contract, in each case whether as contractual obligations, damages or otherwise; (ii) all of its claims, rights, powers, or privileges and remedies under any Contract; and (iii) all of its rights under any Contract to make determinations, to exercise any election (including, but not limited to, election of remedies) or option or to give or receive any notice, consent, waiver or approval together with full power and authority with respect to any Contract to demand, receive, enforce, collect or receipt for any of the foregoing rights or any property the subject of any of the Contracts, to enforce or execute any checks, or other instruments or orders, to file any claims and to take any action which, in the reasonable opinion of the Collateral Agent, may be necessary or advisable in connection with any of the foregoing (the Contracts, together with all of the foregoing in this SECTION 6.1, the "CONTRACT RIGHTS"); PROVIDED, HOWEVER, that until the occurrence and continuance of a Trigger Event, notwithstanding anything else herein to the contrary, the Partnership may, subject to the terms and provisions of the Indenture, exclusively exercise all of the Partnership's rights, powers, privileges and remedies under the Contracts, other than the right to receive monies due or to become due under the Contracts.
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Security Interest in Contract Rights. The Borrower's grant, pursuant to Section 2.1, to the Agent of a Lien in and on all of its right, title and interest in and to each and all of the Contracts, the Contract Documents and the contract rights thereunder, includes, but is not limited to each of the following, (except to the extent any of the following would include General Intangibles arising under contracts which expressly prohibit assignment of such rights without the prior written consent of the other party thereto, except to the extent such prohibition is ineffective under the UCC): (a) all (i) of the Borrower's rights to payment under any Contract or Contract Document and (ii) payments due and to become due to the Borrower under any Contract or Contract Document, in each case whether as contractual obligations, damages or otherwise; (b) all of the Borrower's claims, rights, powers, or privileges and remedies under any Contract or Contract Document; and (c) all of the Borrower's rights under any Contract or Contract Document to make determinations, to exercise any election (including, but not limited to, election of remedies) or option or to give or receive any notice, consent, waiver or approval together with full power and authority with respect to any Contract or Contract Document to demand, receive, enforce or collect any of the foregoing rights or any property which is the subject of any Contract or Contract Document, to enforce or execute any checks, or other instruments or orders, to file any claims and to take any action which, in the reasonable opinion of the Agent, may be necessary or advisable in connection with any of the foregoing (all of the foregoing in this Section 5.1, the "Contract Rights").
Sample 1Sample 2
Security Interest in Contract Rights. The Steam Lessee's assignment and grant, pursuant to Section 2.1, to the Security Agent, for the benefit of GE Capital and the Owner Trustee, of a security interest in all of its right, title and interest in and to each and all of the Contracts and the contract rights thereunder, includes, but is not limited to: (a) all (i) rights to payment under any Contract and (ii) payments due and to become due under any Contract, in each case whether as contractual obligations, damages or otherwise; (b) all of its claims, rights, powers, or privileges and remedies under any Contract; and (c) all of its rights under any Contract to make determinations, to exercise any election (including, but not limited to, election of remedies) or option or to give or receive any notice, consent, waiver or approval together with full power and authority with respect to any Contract to demand, receive, enforce, collect or provide receipt for any of the foregoing rights or any property the subject of any of the Contracts, to enforce or execute any checks, or other instruments or orders, to file any claims and to take any action which, in the reasonable opinion of the Security Agent, may be necessary or advisable in connection with any of the foregoing (the Contracts, together with all of the foregoing in this Section 6.1, the "Contract Rights"); provided, however, that until the occurrence and continuance of a Reimbursement Event of Default or a Lease Event of Default, notwithstanding anything else herein to the contrary, the Steam Lessee may exclusively exercise all of the Steam Lessee's rights, powers, privileges and remedies under the Contracts.
Sample 1
Security Interest in Contract Rights. Each Grantor's grant, pursuant to Section 2.1 of this Security Agreement, to the Secured Party of a security interest in and on all of the right, title and interest in and to each and all of the Contracts, the Contract Documents and the contract rights thereunder owned by such Grantor, includes, but is not limited to: (a) all (i) of such Grantor's rights to payment under any Contract or Contract Document and (ii) payments due and to become due to such Grantor under any Contract or Contract Document, in each case whether as contractual obligations, damages or otherwise; (b) all of such Grantor's claims, rights, powers, or privileges and remedies under any Contract or Contract Document; and (c) all of such Grantor's rights under any Contract or Contract Document to make determinations, to exercise any election (including, but not limited to, election of remedies) or option or to give or receive any notice, consent, waiver or approval together with full power and authority with respect to any Contract or Contract Document to demand, receive, enforce or collect any of the foregoing rights or any property which is the subject of any Contract or Contract Document, to enforce or execute any checks, or other instruments or orders, to file any claims and to take any action which, in the opinion of Collateral Trustee, may be necessary or advisable in connection with any of the foregoing (all of the foregoing in this Section 5.1, the "Contract Rights").
Sample 1
Security Interest in Contract Rights. CE Generation's grant to the Collateral Agent, pursuant to Section 2.1, of a security interest in all of its right, title and interest in and to each and all of the Contracts and the contract rights thereunder, includes, but is not limited to: (a) all (i) rights to payment under or with respect to any Contract and (ii) payments due and to become due under or with respect to any Contract, in each case whether as contractual obligations, damages, indemnity payments or otherwise; (b) all of CE Generation's claims, rights, powers, privileges and remedies under any Contract including, but not limited to, all of the representations and guarantees contained in the Contracts; and (c) all of CE Generation's rights under any Contract to make determinations, to exercise any election (including, but not limited to, election of remedies) or option or to give or receive any notice, consent, waiver or approval together with full power and authority with respect to any Contract to demand, receive, enforce or collect any of the foregoing rights or any property the subject of any of the Contracts, to enforce or execute any checks or other instruments or orders, to file any claims and to take any action which, in the opinion of the Collateral Agent, may be necessary or advisable in connection with any of the foregoing (the Contracts, together with all of the foregoing in this Section 6.1, the "Contract Rights"); provided, however, that until the occurrence and continuance of an Event of Default, notwithstanding anything else herein to the contrary, CE Generation may exercise all of its rights, powers, privileges and remedies under the Contracts in accordance with the Financing Documents; provided, further that if an Event of Default has occurred and is continuing, the Collateral Agent shall be entitled to perform (including, without limitation, by satisfying any payment obligation), or cause the performance of, any Contract in accordance with Section 8.1.
Sample 1
Security Interest in Contract Rights. The Grantor's grant, pursuant to Section 2.1, to the Collateral Agent, of a security interest in all of its right, title and interest in and to each and all of the Contracts and the contract rights thereunder, includes, but is not limited to: (i) all (A) rights to payment under any Contract and (B) payments due and to become due under any Contract, in each case whether as contractual obligations, damages or otherwise; (ii) all of its claims, rights, powers, privileges and remedies under any Contract; and (iii) all of its rights under any Contract to make determinations, to exercise any election (including, without limitation, election of remedies) or option or to give or receive any notice, consent, waiver or approval together with full power and authority with respect to any Contract to demand, receive, enforce or collect any of the foregoing rights or any property the subject of any of the Contracts, to enforce or execute any checks or other instruments or orders, to file any claims and to take any action in connection with any of the foregoing (the Contracts, together with all of the foregoing in this Section 6.1, the "Contract Rights"); provided, however, that, unless an Event of Default shall have occurred and be continuing, notwithstanding anything else herein to the contrary, the Grantor may, subject to the terms and provisions of the Financing Documents, exclusively exercise all of its rights, powers, privileges and remedies under the Contracts.
Sample 1
Security Interest in Contract Rights. The Grantor's grant, pursuant to Section 2.1, to the Collateral Agent, of a security interest in all of its right, title and interest in and to each and all of the Contracts and the contract rights thereunder, includes, but is not limited to:
Sample 1
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Related to Security Interest in Contract Rights

  • Security Interest in Collateral The provisions of this Agreement and the other Loan Documents create legal and valid Liens on all of the Collateral in favor of the Administrative Agent, for the benefit of the Secured Parties, and such Liens constitute perfected and continuing Liens on the Collateral, securing the Secured Obligations, enforceable against the applicable Loan Party and all third parties, and having priority over all other Liens on the Collateral except in the case of (a) Permitted Encumbrances, to the extent any such Permitted Encumbrances would have priority over the Liens in favor of the Administrative Agent pursuant to any applicable law or agreement and (b) Liens perfected only by possession (including possession of any certificate of title) to the extent the Administrative Agent has not obtained or does not maintain possession of such Collateral.

  • Security Interest in Financed Vehicles Immediately prior to the transfer of the Receivables by the Depositor to the Trust, each Receivable was secured by a valid, binding and enforceable first priority perfected security interest in favor of the Seller in the related Financed Vehicle, or all necessary and appropriate actions shall have been commenced that would result in the valid perfection of a first priority security interest in favor of the Seller in the Financed Vehicle, which security interest has been validly assigned by the Seller to the Depositor pursuant to the Receivables Purchase Agreement and by the Depositor to the Trust hereunder.

  • Contract Rights The rights granted pursuant to this Article V shall be deemed to be contract rights, and no amendment, modification or repeal of this Article V shall have the effect of limiting or denying any such rights with respect to actions taken or Proceedings arising prior to any such amendment, modification or repeal.

  • Security Interest in the Collateral To secure the prompt payment and performance to Agent and each Lender of the Obligations, each Borrower hereby assigns, pledges and grants to Agent for its benefit and for the ratable benefit of each Lender a continuing security interest in and to and Lien on all of its Collateral, whether now owned or existing or hereafter acquired or arising and wheresoever located. Each Borrower shall xxxx its books and records as may be necessary or appropriate to evidence, protect and perfect Agent’s security interest and shall cause its financial statements to reflect such security interest. Each Borrower shall promptly provide Agent with written notice of all commercial tort claims, such notice to contain the case title together with the applicable court and a brief description of the claim(s). Upon delivery of each such notice, such Borrower shall be deemed to hereby grant to Agent a security interest and lien in and to such commercial tort claims and all proceeds thereof.

  • Grant of Contract Right In connection with each sale of Additional Loans, VG Funding hereby assigns to Funding all of its rights (but none of its obligations) under, in and to the Original SLM ECFC Purchase Agreement, including all rights of VG Funding to proceed against SLM ECFC with respect to breaches of representations, warranties and covenants with respect to the applicable Additional Loans.

  • Security Interest in Financed Vehicle Immediately prior to the sale, transfer and assignment thereof pursuant hereto and the First Step Receivables Assignment, each Receivable was secured by a validly perfected first priority security interest in the Financed Vehicle in favor of the Seller as secured party or all necessary and appropriate action had been commenced that would result in the valid perfection of a first priority security interest in the Financed Vehicle in favor of the Seller as secured party.

  • Grant of Security Interest in Copyright Collateral Each Pledgor hereby pledges and grants to the Administrative Agent for the benefit of the Secured Parties a lien on and security interest in and to all of its right, title and interest in, to and under all the following Pledged Collateral of such Pledgor: (a) Copyrights of such Pledgor listed on Schedule I attached hereto; and (b) all Proceeds of any and all of the foregoing (other than Excluded Property).

  • Security Interest in Financed Equipment Immediately prior to the sale, assignment and transfer thereof, each Receivable shall be secured by a validly perfected first priority security interest in the Financed Equipment in favor of CNHICA as secured party or all necessary and appropriate actions have been commenced that would result in the valid perfection of a first priority security interest in the Financed Equipment in favor of CNHICA as secured party.

  • Grant of Security Interest in Collateral As an inducement for the Secured Parties to extend the loans as evidenced by the Debentures and to secure the complete and timely payment, performance and discharge in full, as the case may be, of all of the Obligations, each Debtor hereby unconditionally and irrevocably pledges, grants and hypothecates to the Secured Parties a security interest in and to, a lien upon and a right of set-off against all of their respective right, title and interest of whatsoever kind and nature in and to, the Collateral (a “Security Interest” and, collectively, the “Security Interests”).

  • Security Interest Absolute All rights of the Secured Party and all Obligations of the Company hereunder, shall be absolute and unconditional, irrespective of: (a) any lack of validity or enforceability of this Agreement, the Notes, the Warrants or any agreement entered into in connection with the foregoing, or any portion hereof or thereof; (b) any change in the time, manner or place of payment or performance of, or in any other term of, all or any of the Obligations, or any other amendment or waiver of or any consent to any departure from the Notes, the Warrants or any other agreement entered into in connection with the foregoing; (c) any exchange, release or nonperfection of any of the Intellectual Property, or any release or amendment or waiver of or consent to departure from any other Intellectual Property for, or any guaranty, or any other security, for all or any of the Obligations; (d) any action by the Secured Party to obtain, adjust, settle and cancel in its sole discretion any insurance claims or matters made or arising in connection with the Intellectual Property; or (e) any other circumstance which might otherwise constitute any legal or equitable defense available to the Company, or a discharge of all or any part of the Security Interest granted hereby. Until the Obligations shall have been paid and performed in full, the rights of the Secured Party shall continue even if the Obligations are barred for any reason, including, without limitation, the running of the statute of limitations or bankruptcy. The Company expressly waives presentment, protest, notice of protest, demand, notice of nonpayment and demand for performance. In the event that at any time any transfer of any Intellectual Property or any payment received by the Secured Party hereunder shall be deemed by final order of a court of competent jurisdiction to have been a voidable preference or fraudulent conveyance under the bankruptcy or insolvency laws of the United States, or shall be deemed to be otherwise due to any party other than the Secured Party, then, in any such event, the Company's obligations hereunder shall survive cancellation of this Agreement, and shall not be discharged or satisfied by any prior payment thereof and/or cancellation of this Agreement, but shall remain a valid and binding obligation enforceable in accordance with the terms and provisions hereof. The Company waives all right to require the Secured Party to proceed against any other person or to apply any Intellectual Property which the Secured Party may hold at any time, or to marshal assets, or to pursue any other remedy. The Company waives any defense arising by reason of the application of the statute of limitations to any obligation secured hereby.

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