Common use of Assignment by Lessor Clause in Contracts

Assignment by Lessor. Lessor may sell or assign its rights and interests or grant a security interest in this Lease and the Equipment for purposes of securing loans to Lessor or otherwise and may also sell and assign its title and interest as owner of the Equipment and/or as Lessor under this Lease. Lessee hereby (a) consents to such sales or assignments; (b) agrees to promptly sign and deliver such further acknowledgments and other documents as may be reasonably requested by Lessor to Master Lease Agreement Rev. 08-04-2017 Page 8 effect such sales or assignments; (c) agrees that any security assignee shall have all the rights, but none of the obligations, of Lessor under this Lease, except Lessor’s obligation not to disturb Lessee’s quiet possession and use of the Equipment, provided Lessee is not in default hereunder; and (d) upon written notice from Lessor, agrees to pay all rent and other sums payable under this Lease to such assignee designated by Lessor (or to any other party subsequently designated by such assignee) without any abatement, reduction, setoff, defense or counterclaim that Lessee may have against Lessor, Lessee’s sole remedy therefor being a claim for damages or injunctive relief against Lessor.

Appears in 3 contracts

Samples: Master Lease Agreement (Stabilis Energy, Inc.), Master Lease Agreement (Stabilis Energy, Inc.), Master Lease Agreement (Stabilis Energy, Inc.)

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Assignment by Lessor. Lessor may sell or assign its rights and interests or at any time assign, grant a security interest in this Lease and the Equipment for purposes of securing loans to Lessor in, or otherwise dispose of (individually or collectively, a “transfer”), all or any portion of its rights, title or interests in, to and may also sell and assign its title and interest as owner of the Equipment and/or as Lessor under this Lease, any Equipment Schedule or any Item of Equipment, together or separately, to one or more persons or entities (each, an “Assignee”). Upon any such transfer, this Lease shall remain in full force and effect. If Lessee hereby (a) consents to is given notice of any such sales transfer, it shall acknowledge receipt thereof in writing and execute, or assignments; (b) agrees to promptly sign and deliver otherwise authenticate, such further acknowledgments and other documents instruments as may be reasonably requested by Lessor Assignee with respect to Master such transfer, including without limitation, a consent certifying certain material facts and circumstances related to this Lease Agreement Rev. 08-04-2017 Page 8 effect such sales or assignments; (c) agrees that and the Equipment. Unless otherwise expressly agreed by Assignee, Assignee shall not assume any security assignee shall have all the rights, but none of the obligations, obligations of Lessor under this Lease, except Lessor’s obligation not to disturb Lessee’s quiet possession and use of the Equipment, provided Lessee is not in default hereunder; and (d) upon . Upon written notice from Lessorto Lessee of an assignment, Lessee agrees to pay all rent and other sums payable under this Lease the Rent with respect to the Items of Equipment covered by such assignment to such assignee designated by Lessor (Assignee in accordance with the instructions specified in such notice and Lessee shall not assert against Assignee any defense, counterclaim or to any other party subsequently designated by such assignee) without any abatement, reduction, setoff, defense or counterclaim offset that Lessee may have against Lessor. All obligations and liabilities of Lessee to Lessor under this Lease (including, Lessee’s sole remedy therefor being a claim without limitation, any schedules, exhibits, riders or other attachments attached hereto or otherwise incorporated herein) are also hereby made for damages or injunctive relief against Lessorthe express benefit of Assignee.

Appears in 3 contracts

Samples: Master Equipment Lease Agreement (JetPay Corp), Master Equipment Lease Agreement (Advanced Photonix Inc), Master Equipment Lease Agreement (DCP Holding CO)

Assignment by Lessor. Lessee acknowledges and agrees that Lessor may sell assign, mortgage, or assign otherwise transfer its rights and interests or grant a security interest thereunder and/or in this Lease the Equipment to others ("Assignees") without consent of Lessee, provided however that Lessee and the Equipment for purposes Nevada Gaming Control Board ("Control Board") shall be notified of securing loans to any assignment. Accordingly, Lessee and Lessor or otherwise agree that upon such assignment, Lessee (i) shall acknowledge such assignment in writing by executing a Notice, Consent and may also sell and assign its title and interest as owner Acknowledgment of the Equipment and/or as Lessor under this Lease. Lessee hereby (a) consents to such sales or assignmentsAssignment furnished by Lessor; (bii) agrees to shall promptly sign and deliver such further acknowledgments and other documents as may be reasonably requested by Lessor to Master Lease Agreement Rev. 08-04-2017 Page 8 effect such sales or assignments; (c) agrees that any security assignee shall have all the rights, but none of the obligations, of Lessor under this Lease, except Lessor’s obligation not to disturb Lessee’s quiet possession and use of the Equipment, provided Lessee is not in default hereunder; and (d) upon written notice from Lessor, agrees to pay all rent and other sums payable under this Lease Rent when due to such assignee the designated by Lessor (or to Assignees, notwithstanding any other party subsequently designated by such assignee) without any abatement, reductiondefense, setoff, defense abatement, recoupment, reduction or counterclaim whatsoever that Lessee may have against Lessor, Lessee’s sole remedy therefor being a claim for damages ; (iii) shall not permit the Lease or injunctive relief against Lease Schedule so assigned to be amended or the terms thereof waived without the prior written consent of the Assignees; (iv) shall not require the Assignees to perform any obligations of Lessor under such Lease Schedule; (v) shall not terminate or attempt to terminate the Lease or Lease Schedule on account of any default by Lessor; and (vi) acknowledges that any Assignee may reassign its rights and interest with the same force and effect as the assignment described herein.

Appears in 3 contracts

Samples: Master Lease Agreement (Santa Fe Gaming Corp), Master Lease Agreement (Santa Fe Gaming Corp), Master Lease Agreement (Santa Fe Gaming Corp)

Assignment by Lessor. Lessor may sell or assign its rights and interests or grant a security interest in this Lease and the Equipment for purposes of securing loans to Lessor or otherwise and may also sell and assign its title and interest as owner of the Equipment and/or as Lessor under this Lease. Lessee hereby (a) consents to such sales or assignments; (b) agrees to promptly sign and deliver such further acknowledgments and other documents as may be reasonably requested by Lessor to Master Lease Agreement Rev. AgreementRev. 08-04-2017 Page 2017Page 8 effect such sales or assignments; (c) agrees that any security assignee shall have all the rights, but none of the obligations, of Lessor under this Lease, except Lessor’s obligation not to disturb Lessee’s quiet possession and use of the Equipment, provided Lessee is not in default hereunder; and (d) upon written notice from Lessor, agrees to pay all rent and other sums payable under this Lease to such assignee designated by Lessor (or to any other party subsequently designated by such assignee) without any abatement, reduction, setoff, defense or counterclaim that Lessee may have against Lessor, Lessee’s sole remedy therefor being a claim for damages or injunctive relief against Lessor.

Appears in 2 contracts

Samples: Master Lease Agreement (Stabilis Energy, Inc.), Master Lease Agreement (Stabilis Energy, Inc.)

Assignment by Lessor. Lessee acknowledges and agrees that Lessor may sell assign, mortgage, or assign otherwise transfer its rights and interests or grant a security interest thereunder and/or in this Lease and the Equipment for purposes to others ("Assignees") without consent of securing loans to Lessee, provided however that Lessee shall be notified of any assignment. Accordingly, Lessee and Lessor or otherwise agree that upon such assignment, Lessee (i) shall acknowledge such assignment in writing by executing a Notice, Consent and may also sell and assign its title and interest as owner Acknowledgment of the Equipment and/or as Lessor under this Lease. Lessee hereby (a) consents to such sales or assignmentsAssignment furnished by Lessor; (bii) agrees to shall promptly sign and deliver such further acknowledgments and other documents as may be reasonably requested by Lessor to Master Lease Agreement Rev. 08-04-2017 Page 8 effect such sales or assignments; (c) agrees that any security assignee shall have all the rights, but none of the obligations, of Lessor under this Lease, except Lessor’s obligation not to disturb Lessee’s quiet possession and use of the Equipment, provided Lessee is not in default hereunder; and (d) upon written notice from Lessor, agrees to pay all rent and other sums payable under this Lease Rent when due to such assignee the designated by Lessor (or to Assignees, notwithstanding any other party subsequently designated by such assignee) without any abatement, reductiondefense, setoff, defense abatement, recoupment, reduction or counterclaim whatsoever that Lessee may have against Lessor, Lessee’s sole remedy therefor being a claim for damages ; (iii) shall not permit the Lease or injunctive relief against Lease Schedule so assigned to be amended or the terms thereof waived without the prior written consent of the Assignees; (iv) shall not require the Assignees to perform any obligations of Lessor under such Lease Schedule; (v) shall not terminate or attempt to terminate the Lease or Lease Schedule on account of any default by Lessor.; and (vi) acknowledges that any Assignee may reassign its rights and interest with the same force and effect as the assignment described herein. 14.2

Appears in 1 contract

Samples: Master Lease Agreement (Nevstar Gaming & Entertainment Corp)

Assignment by Lessor. Lessee acknowledges and agrees that Lessor may sell assign, mortgage, or assign otherwise transfer its rights and interests or grant a security interest thereunder and/or in this Lease the Equipment to others ("Assignees") without consent of Lessee, provided however that Lessee and the Equipment for purposes Indiana Gaming Commission ("Control Board") shall be notified of securing loans to any assignment. Accordingly, Lessee and Lessor or otherwise agree that upon such assignment, Lessee (i) shall acknowledge such assignment in writing by executing a Notice, Consent and may also sell and assign its title and interest as owner Acknowledgment of the Equipment and/or as Lessor under this Lease. Lessee hereby (a) consents to such sales or assignmentsAssignment furnished by Lessor; (bii) agrees to shall promptly sign and deliver such further acknowledgments and other documents as may be reasonably requested by Lessor to Master Lease Agreement Rev. 08-04-2017 Page 8 effect such sales or assignments; (c) agrees that any security assignee shall have all the rights, but none of the obligations, of Lessor under this Lease, except Lessor’s obligation not to disturb Lessee’s quiet possession and use of the Equipment, provided Lessee is not in default hereunder; and (d) upon written notice from Lessor, agrees to pay all rent and other sums payable under this Lease Rent when due to such assignee the designated by Lessor (or to Assignees, notwithstanding any other party subsequently designated by such assignee) without any abatement, reductiondefense, setoff, defense abatement, recoupment, reduction or counterclaim whatsoever that Lessee may have against Lessor, Lessee’s sole remedy therefor being a claim for damages ; (iii) shall not permit the Lease or injunctive relief against Lease Schedule so assigned to be amended or the terms thereof waived without the prior written consent of the Assignees; (iv) shall not require the Assignees to perform any obligations of Lessor under such Lease Schedule; (v) shall not terminate or attempt to terminate the Lease or Lease Schedule on account of any default by Lessor; and (vi) acknowledges that any Assignee may reassign its rights and interest with the same force and effect as the assignment described herein.

Appears in 1 contract

Samples: Master Lease Agreement (Showboat Marina Partnership)

Assignment by Lessor. Lessor’s interest in, to and under this Agreement and the Equipment may be assigned in whole, but not in part (except as participation interests, as described below), without the necessity of obtaining the consent of Lessee; provided that any assignment will not be effective against Lessee until (a) Lessee has received written notice of the name and address of the assignee, (b) such assignee is (i) an affiliate of Lessor may or (ii) a bank, insurance company or other financial institution, or an affiliate thereof, and (c) Lessee receives a letter of representation from such assignee with representations as to its status, its sophistication, its review of Lessee’s finances and that it is acquiring the rights, title and interest of this Agreement for its own account and not with a present view to resell, in substantially the form attached hereto as Exhibit C. Nothing herein shall limit the right of Lessor or its assignees to sell or assign its rights and participation interests or grant a security interest in this Lease and Agreement to one or more entities listed in the Equipment for purposes of securing loans to Lessor or otherwise and may also sell and assign its title and interest as owner of the Equipment and/or as Lessor under this Leasepreceding clause (b). Lessee hereby (a) consents will retain all such notices as a register of all assignees and will make all payments to the assignee designated in such sales or assignments; (b) register. Lessee agrees to promptly sign execute all documents, including notices of assignment and deliver such further acknowledgments and other documents as chattel mortgages or financing statements that may be reasonably requested by Lessor or any assignee to Master Lease protect its interest in the Equipment and in this Agreement Rev. 08-04-2017 Page 8 effect such sales or assignments; (c) agrees that any security assignee shall have all the rights, but none of the obligations, of Lessor under this Lease, except Lessor’s obligation not to disturb Lessee’s quiet possession and use of the Equipment, provided Lessee is not in default hereunder; and (d) upon written notice from Lessor, agrees to pay all rent the filing of financing statements with respect to the Equipment and this Agreement. Lessee will not have the right to and will not assert against any assignee any claim, counterclaim, defense, set-off or other sums payable under this Lease to such assignee designated by Lessor (or to any other party subsequently designated by such assignee) without any abatement, reduction, setoff, defense or counterclaim that right Lessee may have against Lessor, Lessee’s sole remedy therefor being a claim for damages or injunctive relief against Lessor.

Appears in 1 contract

Samples: Equipment Lease Purchase Agreement

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Assignment by Lessor. Lessee acknowledges and agrees that Lessor may sell assign, mortgage, or assign otherwise transfer its rights and interests or grant a security interest thereunder and/or in this Lease the Equipment to others ("Assignees") without consent of Lessee, provided however that Lessee and the Equipment for purposes Nevada Gaming Control Board ("Control Board") shall be notified of securing loans to any assignment. Accordingly, Lessee and Lessor or otherwise agree that upon such assignment, Lessee (i) shall acknowledge such assignment in writing by executing a Notice, Consent and may also sell and assign its title and interest as owner Acknowledgment of the Equipment and/or as Lessor under this Lease. Lessee hereby (a) consents to such sales or assignmentsAssignment furnished by Lessor; (bii) agrees to shall promptly sign and deliver such further acknowledgments and other documents as may be reasonably requested by Lessor to Master Lease Agreement Rev. 08-04-2017 Page 8 effect such sales or assignments; (c) agrees that any security assignee shall have all the rights, but none of the obligations, of Lessor under this Lease, except Lessor’s obligation not to disturb Lessee’s quiet possession and use of the Equipment, provided Lessee is not in default hereunder; and (d) upon written notice from Lessor, agrees to pay all rent and other sums payable under this Lease Rent when due to such assignee the designated by Lessor (or to Assignees, notwithstanding any other party subsequently designated by such assignee) without any abatement, reductiondefense, setoff, defense abatement, recoupment, reduction or counterclaim whatsoever that Lessee may have against Lessor, Lessee’s sole remedy therefor being a claim for damages ; (iii) shall not permit the Lease or injunctive relief against Lease Schedule so assigned to be amended or the terms thereof waived without the prior written consent of the Assignees; (iv) shall not require the Assignees to perform any obligations of Lessor under such Lease Schedule; (v) shall not terminate or attempt to terminate the Lease or Lease Schedule on account of any default by Lessor.; and (vi) acknowledges that any Assignee may reassign its rights and interest with the same force and effect as the assignment described herein. 14.2

Appears in 1 contract

Samples: Master Lease Agreement (Elsinore Corp)

Assignment by Lessor. LESSOR MAY ASSIGN OR TRANSFER THIS MASTER LEASE OR ANY SCHEDULE HERETO OR LESSOR’S INTEREST IN THE EQUIPMENT OR GRANT A SECURITY INTEREST THEREIN TO ONE OR MORE ASSIGNEES WITHOUT NOTICE TO LESSEE. Any Assignee of Lessor shall have all of the rights but none of the obligations of Lessor hereunder unless expressly agreed in writing, and Lessee agrees that it will not assert against any Assignee any defense, counterclaim or offset that Lessee may sell or assign its rights and interests or grant a security interest in this Lease and the Equipment for purposes of securing loans have against Lessor. Lessee shall have no greater obligations to any Assignee than it had to Lessor at the time of assignment, and such assignment shall not limit or otherwise and may also sell and assign its title and interest as owner of restrict the Equipment and/or as Lessor under this Leaserights afforded Lessee hereunder. Lessee hereby (ai) consents to such sales or assignments; assignments and/or grants, (bii) agrees to promptly sign execute and deliver such further acknowledgments acknowledgements, agreements, and other documents instruments as may be reasonably requested by Lessor or Assignee to Master Lease Agreement Rev. 08-04-2017 Page 8 effect such sales or assignments; assignments and/or grants from time to time as each Schedule is executed and (ciii) agrees to comply fully with the terms of any such assignments and/or grants. Lessee acknowledges that any security assignee assignment or transfer by Lessor made in accordance with the provisions of this Section shall have all the rights, but none of the obligations, of Lessor under this Lease, except Lessor’s obligation not to disturb materially change Lessee’s quiet possession and use of the Equipment, provided Lessee is not in default hereunder; and (d) upon written notice from Lessor, agrees to pay all rent and other sums payable duties or obligations under this Lease nor materially increase the burdens or risks imposed on Lessee. In the event of an assignment, all references herein to such assignee designated by Lessor (or to any other party subsequently designated by such assignee) without any abatement, reduction, setoff, defense or counterclaim that Lessee may have against Lessor, Lessee’s sole remedy therefor being a claim for damages or injunctive relief against Lessorshall include Assignee.

Appears in 1 contract

Samples: Master Equipment Lease (GlyEco, Inc.)

Assignment by Lessor. Lessee acknowledges and agrees that Lessor may sell assign, mortgage, or assign otherwise transfer its rights and interests or interest thereunder including the grant of a security interest in this Lease and the Equipment for purposes to others ("Assignees") without consent of securing loans Lessee, provided however that the Indiana Gamin-Commission ("Commission") shall be notified of and consent to any assignment. Accordingly, Lessee and Lessor or otherwise agree that upon such assignment, Lessee (i) shall acknowledge such assignment in writing by executing a Notice, Consent and may also sell and assign its title and interest as owner Acknowledgment of the Equipment and/or as Lessor under this Lease. Lessee hereby (a) consents to such sales or assignmentsAssignment furnished by Lessor; (bii) agrees to shall promptly sign and deliver such further acknowledgments and other documents as may be reasonably requested by Lessor to Master Lease Agreement Rev. 08-04-2017 Page 8 effect such sales or assignments; (c) agrees that any security assignee shall have all the rights, but none of the obligations, of Lessor under this Lease, except Lessor’s obligation not to disturb Lessee’s quiet possession and use of the Equipment, provided Lessee is not in default hereunder; and (d) upon written notice from Lessor, agrees to pay all rent and other sums payable under this Lease Rent when due to such assignee the designated by Lessor (or to Assignees, notwithstanding any other party subsequently designated by such assignee) without any abatement, reductiondefense, setoff, defense abatement, recoupment, reduction or counterclaim whatsoever that Lessee may have against Lessor, Lessee’s sole remedy therefor being a claim for damages ; (iii) shall not permit the Lease or injunctive relief against Lease Schedule so assigned to be amended or the terms thereof waived without the prior written consent of the Assignees; (iv) shall not require the Assignees to perform any obligations of Lessor under such Lease Schedule; (v) shall not terminate or attempt to terminate the Lease or Lease Schedule on account of any default by Lessor; and (vi) acknowledges that any Assignee may reassign its rights and interest with the same force and effect as the assignment described herein.

Appears in 1 contract

Samples: Indiana Master Capital Lease Agreement (Majestic Star Casino LLC)

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