Nature of Assignment Clause Samples

Nature of Assignment. Transmission Customer may assign use of its Firm Point-to-Point Transmission Service or Conditional Firm Point-to-Point Transmission Service reservation on a firm or non-firm basis and for periods of one or more hours. In the event an assignment or transfer is made on a non-firm basis, the Assignee will exercise its assigned or transferred rights in accordance with the terms applying to Non-Firm Point-to-Point Transmission Service under the ML Transmission Procedures.

Nature of Assignment. The assignment contained in the foregoing PARAGRAPHS A and B shall be fully operative and create, and are intended and shall be construed to create an absolute assignment for security purposes without any further action on the part of either party.

Nature of Assignment. EXCEPT AS OTHERWISE EXPRESSLY PROVIDED IN PARAGRAPH 2 ABOVE, ASSIGNEE HEREBY ACKNOWLEDGES AND AGREES THAT THE ASSIGNMENT OF THE SUBJECT PARTNERSHIP INTEREST IS ON AN "AS IS, WHERE IS" BASIS AND THAT ASSIGNOR HAS NOT MADE, DOES NOT MAKE AND SPECIFICALLY NEGATES AND DISCLAIMS ANY REPRESENTATIONS, WARRANTIES OR GUARANTIES OF ANY KIND OR CHARACTER WHATSOEVER, WHETHER EXPRESS OR IMPLIED, ORAL OR WRITTEN, PAST, PRESENT, FUTURE OR OTHERWISE, OF, AS TO, CONCERNING OR WITH RESPECT TO THE PROPERTY, THE PARTNERSHIP OR THE SUBJECT PARTNERSHIP INTEREST. ASSIGNEE ACKNOWLEDGES THAT (A) ASSIGNEE OR AN AFFILIATE OF ASSIGNEE HAS BEEN A GENERAL PARTNER IN THE PARTNERSHIP SINCE MARCH 10, 1982, AND IT HAS HAD FULL AND ADEQUATE OPPORTUNITY TO COMPLETE ALL PHYSICAL, FINANCIAL AND OTHER EXAMINATIONS AND DUE DILIGENCE RELATING TO THE ACQUISITION OF THE SUBJECT PARTNERSHIP INTEREST HEREUNDER PRIOR TO THE DATE HEREOF, AND IT HEREBY ACCEPTS THE SUBJECT PARTNERSHIP INTEREST, APPROVES OF SUCH MATTERS AND AGREES TO PURCHASE THE SUBJECT PARTNERSHIP INTEREST ON AN "AS IS" BASIS; AND (B) IT WILL ACQUIRE THE SAME SOLELY ON THE BASIS OF SUCH EXAMINATIONS AND NOT ON ANY INFORMATION PROVIDED BY ASSIGNOR (OTHER THAN AS EXPRESSLY PROVIDED IN PARAGRAPH 2 ABOVE).

Nature of Assignment. Transmission Customer may assign use of its Firm Point-to-Point Transmission Service reservation in accordance with Section 3.3(h)(i) on a firm basis and any such assignment shall be for successive periods of one year, which one year periods shall be renewed automatically on a year-to- year basis unless the Assignee or the Transmission Customer, as applicable, gives the other at least three months’ notice to terminate prior to the expiry of any given one year period. If Nalcor or an Affiliate of Nalcor is an Assignee as provided for in Section 3.3(h)(i), and Nalcor or an Affiliate of Nalcor is in default of the provisions of the ECA and is not delivering the Nova Scotia Block in accordance with the ECA, the assignment of Firm Point-to-Point Transmission Service will be suspended for a corresponding period of time.

Nature of Assignment. Borrower agrees that Lender shall have sole and exclusive possession of the original Note Collateral, including the original Shortfall Note and ▇▇▇▇▇▇▇▇▇▇ Note, and that the assignment contained in this Section 10 constitutes a present and current assignment of the Note Collateral and is effective upon the execution and delivery hereof. Payments under or with respect to the Note Collateral shall be made as follows: 10.3.1 Lender shall have the right, at any time, to notify the Note Obligors under the Note Collateral, of the assignment of the Note Collateral to Lender hereunder and, at any time during the continuance of an Event of Default, to direct Borrower and Note Obligors to pay all Note Payments directly to Lender. 10.3.2 So long as an Event of Default is not continuing, within one business day of receipt, Borrower shall pay to Lender Lender’s share of each and every Note Payment received by Borrower as and when required under the Note. All such payments received by Borrower during the continuance of an Event of Default shall be immediately delivered to Lender, in the same form as received, with the addition only of such endorsements and assignments as may be necessary to transfer title to Lender, and pending such delivery, all such payments shall be held in trust for Lender. All Note Payments received by Lender (other than during the continuance of an Event of Default) shall constitute Mandatory Principal Payments and applied to the Note in accordance with Section 3 of the Note. 10.3.3 During the continuance of an Event of Default, Borrower hereby agrees that it shall pay, and Borrower hereby authorizes and directs CIC to thereafter pay all Shortfall Note Payments and ▇▇▇▇▇▇▇▇▇▇ to pay all ▇▇▇▇▇▇▇▇▇▇ Note Payments directly to Lender, and any and all such Shorftall Note Payments and ▇▇▇▇▇▇▇▇▇▇ Note Payments received by Borrower shall be promptly delivered to Lender in the same form as received, with the addition only of such endorsements and assignments as may be necessary to transfer title to Lender, and pending such delivery, all such payments shall be held in trust for Lender and upon receipt by Lender shall be applied to the Indebtedness. 10.3.4 Borrower hereby irrevocably designates and appoints Lender, as its true and lawful attorney-in-fact, which appointment is coupled with an interest, at any time during the continuance of an Event of Default, either in its name or otherwise, for the purpose of taking any or all of the following actions: to a...

Nature of Assignment. This provision shall not be applicable to bona fide education, training and development, job enlargement or enrichment. The employee will be notified in advance as to the nature of the assignment.

Nature of Assignment. The assignment made hereby is executed as collateral security, and the execution and delivery hereof shall not in any way impair or diminish any obligations of the Assignor to the Bank under the Assignor's Note or any obligations of the Assignor or of the Borrower to the Assignor under the Company Note or the security Agreement, nor shall any of such obligations be imposed upon the Bank. The Bank shall not be required to make any inquiry as to the nature or sufficiency of any payment received by the Bank, or to present or file any claim, or to take any other action to collect or enforce the payment of any amounts which may have been assigned to the Bank or to which it may be

Nature of Assignment. This Assignment is intended by Borrower, Agent and Lender to create, and shall be construed to create an absolute collateral assignment to Agent, for the benefit of Lender, subject only to the terms and provisions hereof and the other Loan Documents. This Assignment is effective immediately. Notwithstanding the foregoing, Agent hereby grants to Borrower, not as a limitation or condition hereof, but as a personal covenant available only to Borrower, and not to any lessee or other person, an exclusive, revocable license to perform under the Assigned Documents, and to retain, use and enjoy, perform and enforce all of the terms, conditions, covenants, entitlements and benefits of and under the same. Such license shall be revoked automatically only upon the occurrence and during the continuance of any Event of Default as set forth in the Loan Documents, and otherwise shall remain in full force and effect throughout the term hereof.

Nature of Assignment. The assignment of Rents and other sums contained herein shall constitute an absolute and present assignment, subject, however, to the permission given herein to the Assignor exclusively to collect and use such Rents and other sums set forth in Section 3 hereof. Upon the occurrence of an Event of Default, all Rents and other sums collected and held by the Assignee shall be applied to the payment of the indebtedness and other sums secured hereby in such order as the Assignee, in its sole discretion, shall elect and thereafter the Assignor shall cease to have any right to collect and use any Rents or other sums except as expressly set forth in the Credit Agreement. The assignment contained in this Assignment shall be fully operative without any further action on the part of either party and the Assignee shall be entitled, at its option, upon the occurrence of an Event of Default, to all Rents and other benefits from the Premises, whether or not the Assignee shall take possession of the Premises. Nothing contained in this Assignment shall obligate the Assignee to perform any of the Assignor's covenants or obligations under the Leases or Lease Guaranties or otherwise impose any obligations on the Assignee with respect thereto.