ASSIGNMENT OF RIGHTS UNDER AGREEMENT Clause Samples
The Assignment of Rights Under Agreement clause defines whether and how a party to the contract can transfer its rights or obligations to another party. Typically, this clause specifies if prior written consent is required before any assignment can take place, and may outline exceptions or conditions under which assignment is permitted, such as in the case of a merger or sale of business assets. Its core function is to control and clarify the transferability of contractual rights, thereby protecting the interests of the original parties and preventing unwanted or unauthorized changes in the parties involved.
ASSIGNMENT OF RIGHTS UNDER AGREEMENT. The Department may assign any part of its rights under this Agreement after notification to the Project Sponsor. The Project Sponsor shall not assign rights created by this Agreement without the written consent of the Department.
ASSIGNMENT OF RIGHTS UNDER AGREEMENT. The Department may assign any part of its rights under this Agreement after notification to the Local Government. The Local Government shall not assign rights created by this Agreement without the written consent of the Department.
ASSIGNMENT OF RIGHTS UNDER AGREEMENT. Trust Depositor has the right to assign its interest under this Agreement to the Trust, which shall in turn assign its interest under this Agreement to the Indenture Trustee for the benefit of the Noteholders as may be required to effect the purposes of the Sale and Servicing Agreement and the Indenture, without further notice to, or consent of, the Sellers, and the Trust and the Indenture Trustee for the benefit of the Noteholders shall succeed to all of the rights of Trust Depositor hereunder. The Sellers acknowledge that, pursuant to the Sale and Servicing Agreement, Trust Depositor will assign all of its right, title and interest in and to the Receivables and related Assets conveyed hereunder and all other rights of the Trust Depositor hereunder to the Trust, including but not limited to, its right to exercise the remedies created by Section 6.2 hereof for breaches of representations and warranties of the Sellers contained in Article III hereof, which shall in turn assign such right, title and interest to the Indenture Trustee for the benefit of the Noteholders as well as any other covenants or representations or warranties made by the Sellers hereunder. The Sellers agree that, upon such assignment to the Trust and the Indenture Trustee for the benefit of the Noteholders, such remedies, covenants and representations, including the repurchase obligations of Sellers with respect to breaches of such representations set forth herein and in Section 2.7 of the Sale and Servicing Agreement, will run to and be for the benefit of the Trust and the Indenture Trustee for the benefit of the Noteholders and their respective assignees and the Trust, the Indenture Trustee or such assignee may enforce the same directly without joinder of Trust Depositor.
ASSIGNMENT OF RIGHTS UNDER AGREEMENT. Developer may not transfer or assign its interests under this Agreement, in whole or in part, for any reason. Any assignment or transfer of interests under this Agreement or the Conditional Use Permit shall constitute an event of default, subject to immediate termination, including any transfer as a matter of law due to foreclosure or some other event.
ASSIGNMENT OF RIGHTS UNDER AGREEMENT. The Local Borrower hereby expressly acknowledges that the Loan and all payments of principal and interest thereon, and all proceeds thereof, but excluding the Loan Service Fee, have been pledged and assigned to the Trustee under the Indenture as security for the payment of principal of, premium, if any, and interest on the Bonds and the Trustee shall be entitled to act hereunder, and by the execution of this Agreement the Local Borrower in all respects consents to such assignment. The Corporation, the Department and the Trustee may further assign all or any parts of their rights under this Agreement without the prior consent of the Local Borrower after written notification to the Local Borrower. The Local Borrower shall not assign its rights and obligations under this Agreement without the prior written consent of the Department.
ASSIGNMENT OF RIGHTS UNDER AGREEMENT. The Authority shall assign its rights under and interest in this Agreement (except for the Authority's Reserve Rights), and will pledge and assign all Loan Repayments and security therefor, including the First Mortgage Bond of the Company pledged as security therefor, and receipts and revenues receivable under or pursuant to this Agreement, and income earned by the investment of funds held under the Indenture, to the Trustee pursuant to the Indenture as security for payment of the principal of, premium, if any, and interest on the Bonds. Except as provided in this Section 6.02, the Authority will not otherwise sell, assign, transfer, convey or dispose of the revenues from the Facilities or the Loan Repayments or the First Mortgage Bond during the term of this Agreement, nor will it take any action which may reasonably be construed as tending to cause or induce the levy of special assessments against the Facilities or such revenues or the First Mortgage Bond, nor will it create or suffer to be created any lien or charge upon the Facilities or such revenues or the First Mortgage Bond except Permitted Encumbrances.
ASSIGNMENT OF RIGHTS UNDER AGREEMENT. The Agency hereby expressly acknowledges that the Loan and all payments of principal and interest thereon, and all proceeds thereof, have been pledged and assigned under the Resolution as security for the payment of principal of, premium, if any, and interest on the Bonds and by the execution of this Agreement the Agency in all respects consents to such pledge and assignment. The Department and the Division may further pledge or assign all or any parts of this Agreement without the prior consent of the Agency after written notification to the Agency. The Agency shall not assign its rights and obligations under this Agreement without the prior written consent of the Department and receipt by the Department and the Division of a Bond Counsel Opinion, obtained at the Agency’s expense, that such assignment will not adversely impact the tax status of Applicable Tax-Exempt Bonds.
ASSIGNMENT OF RIGHTS UNDER AGREEMENT. The Agency acknowledges that the Loan and all payments of principal and interest may be pledged and assigned by the Department as security for the payment of principal of, premium, if any, and interest on bonds that may be issued by the Department to fund the SIB and the Agency consents to such pledge and assignment. The Department and the State of Florida Division of Bond Finance may further pledge or assign all or any part of this Agreement without the prior consent of the Agency after written notification to the Agency. The Agency shall not assign its rights and obligations under this Agreement without the prior written consent of the Department.
ASSIGNMENT OF RIGHTS UNDER AGREEMENT. The Authority shall assign its rights under and interest in this Agreement (except for its rights to receive certain fees and expenses, to receive certain notices, and any and all rights to indemnification), and will pledge and assign all Loan Repayments and security therefor, including the First Mortgage Bond of the Company pledged as security therefor, and receipts and revenues receivable under or pursuant to this Agreement, and income earned by the investment of funds held under the Indenture, to the Trustee pursuant to the Indenture as security for payment of the principal of, premium, if any, and interest on the Bonds, but such assignment or pledge shall be subject to this Agreement. Except as provided in Section 6.01(b) and Section 6.02 hereof, the Authority will not otherwise sell, assign, transfer, convey or dispose of the revenues from the Facilities or the First Mortgage Bond during the term of this Agreement, nor will it take any action which may reasonably be construed as tending to cause or induce the levy of special assessments against the Facilities or such revenues or the First Mortgage Bond, nor will it create or suffer to be created any lien or charge upon the Facilities or such revenues or the First Mortgage Bond except Permitted Encumbrances.
ASSIGNMENT OF RIGHTS UNDER AGREEMENT. Except as set forth in herein, Developer may not transfer or assign its interests under this Agreement, in whole or in part, for any reason without the express written consent of the City. Any assignment or transfer of interests under this Agreement or the Project Approvals without the City's express written consent shall constitute an event of default, including any transfer as a matter of law due to foreclosure or some other event. City’s consent to any assignment shall not be unreasonably withheld and may be conditioned upon the Developer and transferee executing a written assignment and assumption agreement in a form approved by the City. However, Developer may lease part or all of the hotel structure to operate the uses allowed by this Agreement or any Subsequent Approval without the City’s consent and may transfer any interest in the Property to an affiliated entity without the City’s advance written consent.