Collateral Assignment. The Owner may assign this contract as collateral security. The Company is not responsible for the validity or effect of a collateral assignment. The Company will not be responsible to an assignee for any payment or other action taken by the Company before receipt of the assignment in writing at its Home Office. The interest of any beneficiary will be subject to any collateral assignment made either before or after the beneficiary is named. A collateral assignee is not an Owner. A collateral assignment is not a transfer of ownership. Ownership can be transferred only by complying with Section 8.2.
Collateral Assignment. To secure the repayment to the Corporation of the amount of the premiums on the Policy paid by it hereunder, the Owner has, contemporaneously herewith, assigned the Policy to the Corporation as collateral in accordance with the terms of the Collateral Assignment. The Collateral Assignment of the Policy to the Corporation hereunder shall not be terminated, altered or amended by the Owner while this Agreement is in effect. The parties hereto agree to take all action necessary to cause the Collateral Assignment to conform to the provisions of this Agreement.
Collateral Assignment. The Judicial Council and the SPWB acknowledge that Licensee may be financing the acquisition and installation of the System with financing accommodations from one or more Lenders and that Licensee’s obligations under the financing documents may be secured by, among other collateral, a pledge or collateral assignment of Licensee’s rights under this SLA and a first security interest in the System subject to subordination to Senior Security Documents as set forth in Section 4. Licensee may assign its interest in the System, including Licensee's rights under this SLA, as security for loans or financing of the System including a System Lease with a System Lessor, subject to the requirements of Section 4.1 of this SLA. The Judicial Council and the SPWB, as applicable, will work in good faith with Licensee and Xxxxxx to agree upon the documentation that may be required in connection with the financing. If a Lender requests additional or different terms and conditions, the Judicial Council and the SPWB, agree to consider such requests in good faith, but neither the Judicial Council, nor the SPWB is obligated to agree to any newly proposed terms and conditions contrary to the provisions in Section 4 of this SLA if the Judicial Council or the SPWB, each in its sole judgment, determines that such changes are detrimental to the Judicial Council or the SPWB.
Collateral Assignment. To secure the repayment to the Employer of an amount equal to the aggregate amount of its premium payments under the Policy to the extent provided in Article 6, the Employee has contemporaneously with the execution of this Agreement assigned the Policy to the Employer as collateral, by means of the form of Collateral Assignment attached to this Agreement as Schedule 1. The Collateral Assignment shall not be altered, terminated or amended by Employee without the express written consent of the Employer. The parties agree to take all action necessary to cause such assignment to conform to the provisions of this Agreement.
Collateral Assignment. Owner shall be entitled, without restriction, to make one or more assignments of this Agreement for purposes of collateral security or any or all of its rights and benefits hereunder to or for the benefit of any and all secured lenders to Owner, or grant to or for the benefit of any and all secured lenders to Owner a lien on, or security interest in, any right, title or interest in all or any part of Owner’s rights hereunder for the purpose of the financing or successive refinancing of the ownership, development, engineering, construction or operation of the NECEC Transmission Line; provided, however, that such assignment for purposes of collateral security shall recognize Distribution Company’s rights under this Agreement on terms and conditions as may be customary for financings of a similar nature and reasonably requested by any secured lenders to Owner. To facilitate Owner’s obtaining of financing or successive refinancing for the ownership, development, engineering, construction or operation of the NECEC Transmission Line, Distribution Company shall cooperate with Owner and shall execute and deliver such consents, acknowledgements, direct agreements or similar documents as may be customary for financings of a similar nature and reasonably requested by any secured lenders to Owner.
Collateral Assignment. The Securities Intermediary or the Insurance Consultant had delivered to the related Issuing Insurance Companies a fully completed and executed collateral assignment in respect of each Subject Policy on the Closing Date, naming the Administrative Agent, on behalf of the Lenders, as the collateral assignee and the Administrative Agent received verbal confirmation on a recorded line from each of the related Issuing Insurance Companies that all such collateral assignments had been received by such Issuing Insurance Companies and no other collateral assignments were on file with such Issuing Insurance Companies.
Collateral Assignment. Notwithstanding anything to the contrary in the foregoing Section 8.02 and to the extent permitted by the Act, in the event a Member pledges its Company Interest or its Units, or assigns its Company Interests or its Units for security purposes, or otherwise encumbers its Company Interest or its Units, to a Member’s lenders that provide financing to such Member (the “Lenders”), (i) such Member may physically deliver the certificate or certificates representing its Units to its Lenders; (ii) the provisions of Article X shall not apply to the admission of any such Lender as a Member upon the exercise by such Lender of any rights and remedies under any of the Member’s agreements with such Lender; (iii) such Lender shall be entitled to become a member of the Company and otherwise effect the transfer of the assigning Member’s Company Interest and Units to such Lender or such other Person as Lender may select consistent with the terms of the Member’s agreements with such Lender upon the exercise by such Lender of any rights and remedies under any of the Member’s agreements with such Lender, and such Lender or other Person may thereafter exercise all rights and other entitlements of membership in the Company pertaining thereto, in all cases without being required to comply with the provisions of Article X or to make any required Capital Contributions; and (iv) such Lenders or other Persons to whom the Company Interest or Units are transferred by Lender shall be deemed Members without further action upon the effectiveness of such transfer.
Collateral Assignment. The total amount of the Corporation's share of the Policy premium payments paid by the Corporation pursuant to this Agreement, less any amounts previously paid to the Corporation by the Owner not used to pay premiums on the Policy pursuant to this Agreement, shall constitute the total indebtedness of the Owner to the Corporation (the "Corporation's Interest"). As security for and to secure the repayment of the Corporation's Interest, as it may exist from time to time pursuant to the terms of this Agreement, the Owner has, contemporaneously herewith, executed and delivered to the Corporation a collateral assignment of the Policy substantially in the form as set forth in Exhibit 3 attached hereto (the "Collateral Assignment"). Repayment of the Corporation's Interest shall be made (i) from the cash surrender value of the Policy if this Agreement is terminated, or the Owner surrenders or cancels the Policy prior to the death of the survivor of Executive and Executive's Spouse, or (ii) from the death proceeds of the Policy if Executive and Executive's Spouse should die while the Policy and this Agreement remain in effect. The Collateral Assignment shall not be terminated, altered or amended by the Owner without the express written consent of the Corporation. The parties hereto agree to take all action necessary to cause the Collateral Assignment to conform to the provisions of this Agreement.
Collateral Assignment. Notwithstanding the requirements of Article 28 and Section 30.2, the Buyer may also, without the Seller’s consent, assign a collateral interest in this Contract, (including, with limitation, the License and the Design Materials License, to a Financing Party as collateral security for a loan, or in connection with any lease or any other financing arrangement, for the acquisition of the Equipment, the performance of the Services and/or the development of the Projects; provided, however, that the Buyer and such Financing Party agree that any foreclosure on such collateral interest, or assignment in lieu of foreclosure, shall occur only as the result of the exercise by the Financing Party of its remedies under the financing agreements relative to a default, bankruptcy or liquidation of the Buyer. A Financing Party may further assign such collateral interest in this Contract, including, without limitation, the License, without the Seller’s consent, to one or more of its designees at or after the time of such foreclosure or assignment in lieu of foreclosure.
Collateral Assignment. 21 INCONTESTABILITY..........................................................21
