Common use of Assignment of Rights and Assumption of Obligations Clause in Contracts

Assignment of Rights and Assumption of Obligations. Subject to the terms and conditions of this Assignment Agreement, the Developer assigns to the Assignee all of its right, title and interest to the Assigned Parcels and any and all rights to receive any and all Pledged Revenue attributed to and collected from the Assigned Parcels. Except as otherwise provided herein, the Assigned Parcels shall be added to and made a part of the Property defined in the Ivywild Agreement and subject to all the requirements applicable to Property set forth in the Ivywild Agreement. Except as otherwise provided herein, the Parties agree that Pledged Revenue as defined in the EVC-HD Agreement arising from the Assigned Parcels shall be and is hereby confirmed as being automatically added to and included in Pledged Revenue as defined in the Ivywild Agreement and subject in all respects to the priority pledge and payment provisions in both the EVC-HD Agreement and Ivywild Agreement. The Parties acknowledge and agree that for purposes of the Authority Bonds (as defined in the Ivywild Agreement), (i) the Assigned Parcels shall not be deemed part of the Property and (ii) the Pledged Revenue arising from the Assigned Parcels, if any, shall not be deemed to be Pledged Revenue that is pledged to the Authority Bonds, but shall be reserved for future application. Subject to the foregoing, upon compliance with the applicable requirements, including Section 8.4, of the Ivywild Agreement, such Pledged Revenue shall be deposited in the Developer’s Account established in the Ivywild Agreement when and as received in the same manner and subject to the same protections as all other Pledged Revenue as defined in the Ivywild Agreement.

Assignment of Rights and Assumption of Obligations. Subject to the terms and conditions of this Assignment Agreement, the Developer SNA assigns to the Assignee Ivywild all of its right, title and interest to as described in the SNA Agreement regarding the Assigned Parcels and any and all rights to receive any and all Pledged Revenue attributed to and collected from the Assigned ParcelsParcels and owed to SNA pursuant to the SNA Agreement. Except as otherwise provided herein, the The Assigned Parcels shall be added to and made a part of the Property defined in the Ivywild Agreement and subject to all the requirements applicable to Property set forth in the Ivywild Agreement. Except as otherwise provided herein, the The Parties agree that Pledged Revenue as defined in the EVC-HD SNA Agreement arising from the Assigned Parcels shall be and is hereby confirmed as being automatically added to and included in Pledged Revenue as defined in the Ivywild Agreement and subject in all respects to the priority pledge and payment provisions in both the EVC-HD SNA Agreement and Ivywild Agreement. The Parties acknowledge and agree that for purposes of the Authority Bonds (as defined in the Ivywild Agreement), (i) the Assigned Parcels shall not be deemed part of the Property and (ii) the Pledged Revenue arising from the Assigned Parcels, if any, shall not be deemed to be Pledged Revenue that is pledged to the Authority Bonds, but shall be reserved for future application. Subject to the foregoing, upon Upon compliance with the applicable requirements, including Section 8.47.2, of the Ivywild Agreement, such Pledged Revenue shall be deposited in the Developer’s 's Account established in the Ivywild Agreement when and as received by the Authority in the same manner and subject to the same protections as all other Pledged Revenue as defined in the Ivywild Agreement.