Collateral Assignment of Contracts Sample Clauses
The Collateral Assignment of Contracts clause allows a party to transfer its rights and interests in a contract to a third party, typically as security for a loan or other obligation. In practice, this means that if the assigning party defaults on its obligations, the assignee (often a lender) can step in and enforce the contract or receive its benefits. This clause is commonly used in financing arrangements to provide lenders with additional security, ensuring they have recourse to valuable contractual rights if the borrower fails to meet their commitments.
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Collateral Assignment of Contracts. Any general contractor contract, and all other contracts, designs and plans shall provide that they may be collaterally assigned to Landlord without any further consent of the contracting party thereunder. Further, Tenant hereby collaterally assigns, transfers and sets over, to Landlord, all of Tenant’s rights, benefits and privileges under, any general contractor contract, and all other contracts, designs and plans for any Expansion Improvements such that in the event of a default by Tenant hereunder, Landlord may cause any counterparty to such contracts, designs and plans to perform their obligations thereunder for the benefit of the Landlord. Tenant shall enter into such further agreements and take such further actions as may be required to effect the provisions of the foregoing collateral assignment. Notwithstanding the foregoing, Tenant shall continue to be liable for all covenants, agreements or obligations under such contracts, designs and plans, and Landlord shall not be deemed to have assumed any such contracts, designs or plans, except as provided in Section 3.4 below, to the extent Landlord elects (in its sole discretion) to construct the Expansion Improvements.
Collateral Assignment of Contracts. The Borrower shall assign to Lender and grant a security interest to Lender in all contracts with contractors, architects and engineers (the “Assignment”).
Collateral Assignment of Contracts. (i) With respect to the Western Medical Center - Anaheim, IHHI and WMC-A shall have executed, acknowledged and delivered to Closing Date Lender (or shall have deposited the same into Escrow as, when and if required by Closing Date Lender) one (1) original Collateral Assignment of Contracts in the form of Exhibit “H” attached hereto, with the legal description describing the fee simple interest in the Western Medical Center - Anaheim;
(ii) With respect to the Western Medical Center - Santa ▇▇▇, IHHI and WMC-SA shall have executed, acknowledged and delivered to Closing Date Lender (or shall have deposited the same into Escrow as, when and if required by Closing Date Lender) one (1) original Collateral Assignment of Contracts in the form of Exhibit “H” attached hereto, with the legal description describing the fee simple interest in the Western Medical Center — Santa ▇▇▇;
(iii) With respect to the Coastal Communities Hospital (and medical office buildings), IHHI and Coastal shall have executed, acknowledged and delivered to Closing Date Lender (or shall have deposited the same into Escrow as, when and if required by Closing Date Lender) one (1) original Collateral Assignment of Contracts in the form of Exhibit “H” attached hereto, with the legal description describing the fee simple interest in the Coastal Communities Hospital;
(iv) With respect to the ▇▇▇▇▇▇▇ Medical Center:
(A) IHHI shall have executed, acknowledged and delivered to Closing Date Lender (or shall have deposited the same into Escrow as, when and if required by Closing Date Lender) one (1) original Collateral Assignment of Contracts in the form of Exhibit “H” attached hereto, with the legal description describing (1) the fee simple interest in the ▇▇▇▇▇▇▇ Medical Center, and (2) IHHI’s interest, as MOB Tenant, in the ▇▇▇▇▇▇▇ MOB Lease; and
(B) IHHI shall have executed, acknowledged and delivered to Closing Date Lender (or shall have deposited the same into Escrow as, when and if required by Closing Date Lender) one (1) original Collateral Assignment of Contracts in the form of Exhibit “H” attached hereto, with the legal description describing (1) the fee simple interest in the ▇▇▇▇▇▇▇ Medical Center, and (2) IHHI’s interest, as Hospital Tenant, in the ▇▇▇▇▇▇▇ Hospital Lease.
Collateral Assignment of Contracts. A first priority collateral assignment and security agreement granted by each Borrowing Base Property Owner to the Administrative Agent, for the ratable benefit of the Lenders, with respect to all Licenses and Permits and all contracts, agreements and warranties now owned or hereafter acquired by each Collateral Property Owner and related in any manner to each Collateral Property.
Collateral Assignment of Contracts. To the extent requested by the Administrative Agent, the Administrative Agent shall have received collateral assignments of all material contracts and any other rights or benefits of such Property, relating to the use, occupancy, operation, maintenance, enjoyment or ownership of such Property.
Collateral Assignment of Contracts and Licenses made by Borrower and Operating Lessee for the benefit of Lender.
Collateral Assignment of Contracts. THIS COLLATERAL ASSIGNMENT OF CONTRACTS (this “Agreement” or “Assignment”), is entered into as of December ___, 2011 (the “Effective Date”) by and between: GLOBAL AXCESS CORP, a Nevada corporation, whose address is: ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇; NATIONWIDE MONEY SERVICES INC., a Nevada corporation, whose address is: ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇; NATIONWIDE NTERTAINMENT SERVICES, INC., a Nevada corporation, whose address is: ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇; EFT INTEGRATION, INC., a Florida corporation, whose address is: ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇, (collectively, “Assignor” or “Borrower”); and FIFTH THIRD BANK, an Ohio Banking corporation, with an address at ▇▇▇▇ ▇▇▇ ▇▇▇▇ ▇▇▇▇., Suite 200, Jacksonville, FL 32257 (the “Assignee” or “Bank”).
Collateral Assignment of Contracts. 5 Collateral Assignment of Interest Rate Cap Agreement...........................5
Collateral Assignment of Contracts. The Collateral Assignment of Contracts.
Collateral Assignment of Contracts. Two copies of a Collateral Assignment of Contracts (“Assignment”) duly executed by the Borrowers in the form attached hereto as Exhibit C (with all required insertions to be made by, or otherwise acceptable to, Bank).