Common use of Assignment for Financing Clause in Contracts

Assignment for Financing. Notwithstanding anything to the contrary herein, the Developer shall have the right, without obtaining the Agency’s or the City’s consent, to assign its rights and interest in this Agreement to one or more lenders, as collateral for one or more loans or other arrangements for the financing of any improvements to be made by thea Developer or a TRS to the Site. The City and the Agency shall cooperate in the Developer’s activities to obtain financing for the development of the Site and comply with any commercially reasonable requests for notices, consents and other documentation and information as may be reasonably required by any lenders or investors. Without limiting the generality of the foregoing, the Agency and the City shall, upon the written request of the Developer, promptly execute and deliver to lenders or investors designated by the Developer estoppel certificates, confirming the enforceability of this Agreement, confirming the status of the Developer’s performance hereunder (i.e., that there are no defaults, or detailing the nature of any defaults hereunder) and including such other information as the Developer or such lender or investor may reasonably require.

Assignment for Financing. Notwithstanding anything to the contrary herein, the Developer shall have the right, without obtaining the Agency’s or the City’s consent, to assign its rights and interest in this Agreement to one or more lenders, as collateral for one or more loans or other arrangements for the financing of any improvements to be made by thea a Developer or a TRS to the Site. The City and the Agency shall cooperate in the Developer’s activities to obtain financing for the development of the Site and comply with any commercially reasonable requests for notices, consents and other documentation and information as may be reasonably required by any lenders or investors. Without limiting the generality of the foregoing, the Agency and the City shall, upon the written request of the Developer, promptly execute and deliver to lenders or investors designated by the Developer estoppel certificates, confirming the enforceability of this Agreement, confirming the status of the Developer’s performance hereunder (i.e., that there are no defaults, or detailing the nature of any defaults hereunder) and including such other information as the Developer or such lender or investor may reasonably require.