Common use of ASSIGNMENT OF RIGHTS UNDER AGREEMENT Clause in Contracts

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 District 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 District 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 District after written notification to the AgencyDistrict. The Agency District 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 an opinion of Bond Counsel Opinion, obtained at the Agency’s expense, that such assignment will not adversely impact the tax status of Applicable Tax-Exempt Bonds.