Common use of Assignment for Financing Clause in Contracts

Assignment for Financing. Without requiring further consent from the Landowner, the Lessee shall have the right to mortgage and encumber Lessee’s leasehold interest in the Property and/or the Geothermal Resources leased hereby and to assign Lessee’s right, title and interest in this Agreement as collateral security to one or more Lenders for Financing purposes. Any Lender’s Lien and all rights acquired by any Lender under this Section are subject to every covenant, condition, and restriction set forth in this Agreement and to all rights and interests of Landowner. No right or interest of Landowner is waived by reason of the right granted to Lessee under this section, except as expressly provided otherwise. Lessee shall provide prior written notice to Landowner of all assignments, mortgages or encumbrances of any kind created pursuant to this provision.