Consent to Collateral Assignment Clause Samples
The Consent to Collateral Assignment clause authorizes one party, typically a borrower, to assign its rights and interests under an agreement to a third party, usually a lender, as collateral for a loan or other financial obligation. In practice, this means the original party can pledge the contract as security, but must first obtain the other party’s consent before doing so. This clause ensures that all parties are aware of and agree to the assignment, thereby protecting the non-assigning party from unexpected changes in contract obligations or relationships.
POPULAR SAMPLE Copied 29 times
Consent to Collateral Assignment. Subject to the provisions of this Section 9.05, Seller may (but is not obligated to) assign this Agreement as collateral to a Lender for any financing or refinancing of the Generating Facility, including a Sale-Leaseback Transaction or Equity Investment and, in connection therewith, Buyer shall in good faith work with Seller and Lender to agree upon a consent to a collateral assignment of this Agreement or to a Sale-Leaseback Transaction or Equity Investment, as applicable (“Collateral Assignment Agreement”). The Collateral Assignment Agreement shall be in form and substance reasonably agreed to by ▇▇▇▇▇, Seller and Lender, and shall include, among others, the following provisions (together with such other commercially reasonable provisions required by any Lender that are reasonably acceptable to Buyer): Buyer shall give, to the Person(s) to be specified by Lender in the Collateral Assignment Agreement, simultaneously with the Notice to Seller and before exercising its right to terminate this Agreement, written Notice of any event or circumstance known to Buyer which would, if not cured within the applicable cure period specified in Article VI, constitute an Event of Default (an “Incipient Event of Default”); Lender shall have the right to cure an Incipient Event of Default or an Event of Default by Seller in accordance with the same provisions of this Agreement as apply to Seller; Following an Event of Default by Seller under this Agreement, Buyer may require Seller to (although Lender may, but shall have no obligation, subject to 9.05(g)) provide to Buyer a report concerning: The status of efforts by Seller or Lender to develop a plan to cure the Event of Default; Impediments to the cure plan or its development; If a cure plan has been adopted, the status of the cure plan’s implementation (including any modifications to the plan as well as the expected timeframe within which any cure is expected to be implemented); and Any other information which Buyer may reasonably require related to the development, implementation and timetable of the cure plan; Seller or Lender shall provide the report to Buyer within 10 Business Days after Notice from Buyer requesting the report. Buyer shall have no further right to require the report with respect to a particular Event of Default after that Event of Default has been cured; Lender shall have the right to cure an Event of Default or Incipient Event of Default on behalf of Seller, only if ▇▇▇▇▇▇ sends a written notice ...
Consent to Collateral Assignment. Purchaser consents to either the sale or conveyance to a lessor or the collateral assignment by Provider to the a lender that has provided financing of the System, of the Provider’s right, title and interest in and to this Agreement.
Consent to Collateral Assignment. Buyer hereby consents to both the sale of the Distributed Generation Resources to a Lender and the collateral assignment for the financing of the Seller’s right, title and interest in and to this Agreement, provided that Lender (or its assignee) is of equivalent or greater creditworthiness and experience than Seller, and Lender (or its assignee) agrees to assume all of Seller’s rights under this Agreement in the event that Lender exercises its remedies such that the Distributed Generation Resource is sold to Lender.
Consent to Collateral Assignment. Buyer will cooperate reasonably with Seller and Financing Party to enter into a collateral assignment by Seller to the Financing Party of this Agreement; provided that such assignment shall not relieve Seller of its obligations hereunder.
Consent to Collateral Assignment. Host hereby consents to both the sale of the Project to a Financing Party and the collateral assignment to the Financing Party of the Provider’s right, title and interest in and to this Agreement.
Consent to Collateral Assignment. Seller shall have the right to assign this Agreement as collateral for financing or refinancing of the System, and Purchaser hereby consents to the collateral assignment by Seller to any Financing Party of Seller’s right, title, and interest in and to this Agreement.
Consent to Collateral Assignment. Utility consents to the security assignment by Owner to the Financing Institution of this Agreement, and a transfer of the Owner’s right, title and interest in and to the System to the Financing Institution, provided that such assignment shall not relieve the Owner of its obligations hereunder.
Consent to Collateral Assignment. The Parties agree that Company may assign this Agreement, in whole or in part to a Solar Facility Mortgagee and/or Interested Party as collateral, and in connection with any such assignment, ▇▇▇▇▇▇▇▇▇ agrees to execute a consent to assignment in customary form and reasonably acceptable to the Solar Facility Mortgagee and/or Interested Party.
Consent to Collateral Assignment. Lessee shall have the right to assign this Agreement as collateral for financing or refinancing of the System, and Lessor hereby consents to the collateral assignment by Lessee to any Financing Party of ▇▇▇▇▇▇’s right, title, and interest in and to this Agreement.
Consent to Collateral Assignment. Host consents to the collateral assignment by Provider to the Lender, of the Provider’s right, title and interest in and to this Agreement. The assignment shall be subject to the provisions of this Agreement.