Common use of Granting of Security Clause in Contracts

Granting of Security. 17.2.1. Notwithstanding the provisions of Clause 17.1.2, for the purpose of financing the construction, operation and maintenance of the Project, the Company may assign or create security over its rights and interests under, pursuant to or associated with: (a) this Agreement, (b) any agreement included within the Material Agreements, (c) the Facility, (d) the Site, (e) the movable property and intellectual property of the Company, or (f) the revenues or any of the rights or assets of the Company, for the benefit of the Lenders. 17.2.2. In accordance with their rights and obligations with respect to the Facility, the Lenders may enforce such security interests in the assets identified in Clause 17.2.1 (a) through (f) without the prior consent of JPS. In the event that the Company requests that JPS provide such consent, JPS shall execute all such acknowledgements of any security or any requisite documentation as are reasonably requested by the Company to give effect to the security rights; provided that the execution of such acknowledgements shall not prejudice any rights or interests of JPS.

Granting of Security. 17.2.118.2.1. Notwithstanding the provisions of Clause 17.1.218.1.2, for the purpose of financing the construction, operation and maintenance of the Project, the Company may assign or create security over its rights and interests under, pursuant to or associated with: (a) this Agreement, (b) any agreement included within the Material Agreements, (c) the FacilityComplex, (d) the Site, (e) the movable property and intellectual property of the Company, or (f) the revenues or any of the rights or assets of the Company, for the benefit of the Lenders. 17.2.218.2.2. In accordance with their rights and obligations with respect to the FacilityComplex, the Lenders may enforce such security interests in the assets identified in Clause 17.2.1 18.2.1 (a) through (f) without the prior consent of JPS. In the event that the Company requests that JPS provide such consent, JPS shall execute all such acknowledgements of any security or any requisite documentation as are reasonably requested by the Company to give effect to the security rights; provided that the execution of such acknowledgements shall not prejudice any rights or interests of JPS.