Senior Lender’s Rights to Permitted Payment Sources Sample Clauses

Senior Lender’s Rights to Permitted Payment Sources. Senior Lender acknowledges and agrees that it has no rights or claims under the Senior Loan Documents in or to any Permitted Payment Source, except for Senior Lender’s senior security interest in the Sponsor Equity Interests and Senior Xxxxxx’s conditionally subordinate security interest in the Capital Contributions, and any purported right or claim thereto is hereby disclaimed and made expressly subject and subordinate in all respects to the rights and claims of Equity Bridge Lender under the Equity Bridge Loan Documents in or to such Permitted Payment Source. Senior Xxxxxx acknowledges and agrees that until either (i) the Equity Bridge Lender fails to make a disbursement of proceeds as and when required in accordance with the Equity Bridge Loan Documents, or (ii) the Borrower’s obligations to Equity Bridge Lender under the Equity Bridge Loan Documents have been paid in full, Senior Lender’s rights, title and interests in and to the Capital Contributions are hereby subordinated to the interests of Equity Bridge Lender. Senior Xxxxxx agrees without the prior written consent of Equity Bridge Lender not to take any remedial action against the Capital Contributions at any time that Senior Xxxxxx’s security interest in the Capital Contributions is subordinate to Equity Bridge Xxxxxx’s security interest in the Capital Contributions. Except for the limitations set forth in the immediately preceding sentence, Senior Lender may pursue all rights and remedies available to it under the Senior Loan Documents, at law, or in equity, regardless of any Enforcement Action Notice or Enforcement Action by Equity Bridge Lender. No action or failure to act on the part of Senior Lender in the event of an Equity Bridge Loan Default or commencement of an Enforcement Action will constitute a waiver on the part of Senior Lender of any provision of the Senior Loan Documents or this Agreement.
Sample 1
AutoNDA by SimpleDocs

Related to Senior Lender’s Rights to Permitted Payment Sources

  • Transfers or Assignments to a Third Party Financing Agent It is understood and agreed by the parties that a condition precedent to the consummation of the purchase(s) under the Contract may be the obtaining of acceptable third party financing by the Authorized User. The Authorized User shall make the sole determination of the acceptability of any financing proposal. The Authorized User will make all reasonable efforts to obtain such financing, but makes no representation that such financing has been obtained as of the date of Bid receipt. Where financing is used, Authorized User may assign or transfer its rights in Licensed Products (existing or custom) to a third party financing entity or trustee (“Trustee”) as collateral where required by the terms of the financing agreement. Trustee’s sole rights with respect to transferability or use of Licensed Products shall be to exclusively sublicense to Authorized User all of its Licensee’s rights under the terms and conditions of the License Agreement; provided, further, however, in the event of any termination or expiration of such sublicense by reason of payment in full, all of Trustee’s rights in such Licensed Product shall terminate immediately and Authorized User’s prior rights to such Existing Licensed Product shall be revived.

  • Assignment to Financing Providers Seller shall be permitted to assign this Agreement as collateral for any financing or refinancing of the Project with the prior written consent of the Buyer, which consent shall not be unreasonably withheld. If Buyer gives its consent, then such consent shall be in a form substantially similar to the Form of Consent to Assignment attached hereto as Appendix VII provided that (i) Buyer shall not be required to consent to any additional terms or conditions beyond those contained in Appendix VII, including extension of any cure periods or additional remedies for financing providers, and (ii) Seller shall be responsible at Buyer’s request for Buyer’s reasonable costs associated with the review, negotiation, execution and delivery of documents in connection with such assignment, attorneys’ fees.

  • Third Party Financing If Product acquisitions are financed through any third party financing, Contractor may be required as a condition of Contract Award to agree to the terms and conditions of a “Consent & Acknowledgment Agreement” in a form acceptable to the Commissioner.

  • Treatment of Passthru Payments and Gross Proceeds The Parties are committed to work together, along with Partner Jurisdictions, to develop a practical and effective alternative approach to achieve the policy objectives of foreign passthru payment and gross proceeds withholding that minimizes burden.

  • Obligations of Business Associate Upon Termination Upon termination of this Agreement for any reason, business associate shall return to covered entity or, if agreed to by covered entity, destroy all protected health information received from covered entity, or created, maintained, or received by business associate on behalf of covered entity, that the business associate still maintains in any form. Business associate shall retain no copies of the protected health information.

  • Exceptions to the obligation to provide assistance 1. Assistance may be refused or may be subject to the satisfaction of certain conditions or requirements, in cases where a Party or the EAC Partner States as the case may be concerned is of the opinion that assistance under this Protocol would:

  • COPIES OF THE COLLECTIVE AGREEMENT The Union and the Employer agree that every employee should be familiar with the provisions of this Agreement and her rights and obligations under it. For this reason, the Employer shall make available copies of the Collective Agreement in booklet form to all of its employees. The cost of printing shall be shared equally between the Union and the Employer. The Agreement shall be printed in a Union shop and bear a recognized Union label. The Union and the Employer shall agree on the size, print and color of the Agreement and all other particulars prior to it being printed. Printing shall be completed as soon as possible after the signing of the Collective Agreement.

  • PRIORITY HIRING CONSIDERATIONS If this Contract includes services in excess of $200,000, the Contractor shall give priority consideration in filling vacancies in positions funded by the Contract to qualified recipients of aid under Welfare and Institutions Code Section 11200 in accordance with Pub. Contract Code §10353.

  • of the Collective Agreement All letters of reference solicited in relation to promotion shall become part of the candidate's official dossier for the purposes of the promotion proceedings only. All such letters shall be available to the Peer Evaluation Committee.

  • Payments under Assigned Agreement PG&E shall make all payments due to Seller under the Assigned Agreement from and after the date hereof to [__________], as depositary agent, to ABA No. [__________], Account No. [__________], and Seller hereby irrevocably consents to any and all such payments being made in such manner. Each of Seller, PG&E and Financing Provider agrees that each such payment by PG&E to such depositary agent of amounts due to Seller from PG&E under the Assigned Agreement shall satisfy PG&E’s corresponding payment obligation under the Assigned Agreement.

Time is Money Join Law Insider Premium to draft better contracts faster.