Examples of City Designee in a sentence
It is understood that the Mighty Ducks Agreement shall in any event be a Designated Contract and, subject to Bankruptcy Court approval, be assumed and assigned to the City (or a City Designee) at Closing.
The City shall be obligated to pay all liabilities under the Assigned Contracts as of the Closing Date and thereafter, including all cure and reinstatement costs and expenses pursuant to 11 U.S.C. ss.365 or otherwise, arising from the assignment, assumption, or both, of the Assigned Contracts to the City (or a City Designee, as the case may be) as set forth on Schedule 2.4(a) (the "Cure Costs").
Without limiting the generality of the preceding sentence, the assumption by the City or the City Designee of the Assumed Liabilities shall not create any third-party beneficiary rights other than with respect to the Person whose debt is assumed.
A lien junior to the lien of the equity investor (UBC) on net Pond revenues will be pledged as security for the other payment obligations owed to AIG; further subordinate liens support the Refunding Bonds and then the reimbursement obligations of the City and the City Designee arising from issuance of the replacement Debt Letter of Credit.
The assumption by the City or a City Designee of the Assumed Liabilities shall in no way expand the rights or remedies of any third party against the City, such City Designee or the Manager as compared to the rights and remedies which such third party would have had against the Manager absent the Chapter 11 Cases, had the City or the City Designee not assumed such liabilities.
The City shall elect, as soon as practicable and in any event no later than three Business Days prior to the date of the Approval Hearing, which of the Schedule 2.4(a) Contracts the City wishes the Manager to assume and assign to the City (or a City Designee) effective as of the Closing (the "Designated Contracts").