Specified Collateral Sample Clauses
The 'Specified Collateral' clause defines the particular assets or property that are pledged or designated as security for an obligation under an agreement. This clause typically lists or describes the collateral in detail, such as specific accounts, equipment, or receivables, ensuring both parties are clear on what is covered. By precisely identifying the collateral, the clause helps prevent disputes over what assets are subject to the security interest and provides certainty in the event of enforcement or default.
Specified Collateral. (a) Notwithstanding any provision of the Loan Documents to the contrary, payment of that portion of the Obligations constituting Secured Designated Indebtedness Obligations pursuant to Section 7.03(e) shall only be made with the applicable ratable share (as provided in Section 7.03(e)) of proceeds from any collection, sale, foreclosure or other realization upon any Specified Collateral (and proceeds from any collection, sale, foreclosure or other realization upon any other Collateral shall not be applied to Secured Designated Indebtedness Obligations).
(a) In making the determinations and allocations required by Section 7.03(e), the Agent may conclusively rely upon information supplied by the Designated Representative as to the amounts of unpaid principal and interest and other amounts with respect to the Secured Designated Indebtedness [[3666665]] Obligations, and the Agent shall have no liability to any of the Secured Parties for actions taken in reliance on such information. The Agent shall have no duty to inquire as to the application by the Designated Representative of any amounts distributed to it for distribution to the Secured Designated Indebtedness Holders.
Specified Collateral. (a) At the Effective Time, at the direction of the Collateral Agent (which shall be deemed to have been given hereunder automatically and immediately at the Effective Time), the Borrower hereby assigns, transfers and delivers to the Collateral Agent (for further distribution to the Applicable Transferees of their Ratable Shares thereof in accordance with the terms of the Loan Documents) (or, if directed to do so in writing by the Collateral Agent prior to the Effective Time (such direction, the “Applicable Transferee Distribution Direction”), directly to the respective Applicable Transferees), and the Collateral Agent (or relevant Applicable Transferee, if the Applicable Transferee Distribution Direction has been provided) shall acquire and take assignment and delivery in accordance with the Credit Agreement and the other Loan Documents of the Borrower’s right, title and interest in and to the Specified Collateral (or, in the case of an Applicable Transferee, its Ratable Share thereof) pursuant to the Strict Foreclosure. For purposes of this Agreement and the Strict Foreclosure, the Collateral Agent and/or each Applicable Transferee that receives Specified Collateral in accordance with this clause (a) shall each constitute a “Specified Collateral Recipient”.
(b) Each of the Debtors acknowledges and agrees that, upon the assignment, acquisition, delivery and/or transfer (as applicable) of the Specified Collateral as provided above, each Specified Collateral Recipient shall be the sole owner of the relevant portion of the Specified Collateral transferred to it, and shall be entitled to all proceeds of such Specified Collateral of any kind whatsoever, and no Debtor or any Affiliate thereof or any other Person shall be entitled to any such proceeds. Each of the Debtors shall hold, and shall cause each of its Affiliates to hold, for the benefit of and in trust for the Specified Collateral Recipients, all proceeds of the Specified Collateral of any kind whatsoever received by it. Each Debtor shall, immediately following the receipt of any such proceeds by such Debtor or any of its Affiliates, remit (or procure and cause to be remitted) to the Specified Collateral Recipient such proceeds (or, with respect to remittance to an Applicable Transferee, its Ratable Share thereof), and shall not commingle or permit the commingling of such proceeds with any other property of the Debtors or any other Person.
(c) The parties hereby further acknowledge and agree that if, up...
Specified Collateral. 1. Geothermal Resources Lease, effective as of May 23, 2008, between Intermountain Renewable Power, LLC and ▇▇▇▇ and ▇▇▇▇▇ ▇▇▇▇▇▇▇, as landlords, as subsequently assigned to Thermo No.1 BE-01, LLC on August 27, 2008.
2. Geothermal Energy Lease, ML-50773, as amended and restated, effective as of April 1, 2007, between Intermountain Renewable Power, LLC and the Utah School and Institutional Trust Lands Administration, State of Utah, as subsequently assigned to Thermo No. 1 BE-01 LLC on August 12, 2008.
3. Geothermal Energy Lease, ML-51193, effective as of March 1, 2008, between ▇▇▇▇▇ Technologies, Inc. and the Utah School and Institutional Trust Lands Administration, State of Utah, as subsequently assigned to Thermo No. 1 BE-01 LLC on August 12, 2008.
4. Geothermal Energy Lease, ML-50856, effective as of June 1, 2007, between ▇▇▇▇▇ Technologies, Inc. and the Utah School and Institutional Trust Lands Administration, State of Utah, as subsequently assigned to Thermo No. 1 BE-01 LLC on August 12, 2008.
Specified Collateral. The Purchased Assets (as such term is defined in the APA).
Specified Collateral. This Credit Agreement (this “Agreement”), dated as of December 19, 2011 (the “Effective Date”), is entered into by and between (i) THERMO NO. 1 BE-01, LLC, a Delaware limited liability company (the “Company”), and (ii) ORMAT NEVADA INC., a Delaware corporation (“Ormat”).