Common use of Assignment of Payments Clause in Contracts

Assignment of Payments. Except with respect to contracts for which the government has determined that a prohibition on assignment of claims is in the government’s interest, each of the Credit Parties and their Subsidiaries has the right to assign to the Administrative Agent all payments due or to become due under each of such Person’s Government Contracts, and there exists no uncancelled prior assignment of payments under any of such Credit Party’s Government Contracts.

Appears in 6 contracts

Samples: Credit Agreement (Osi Systems Inc), Credit Agreement (Osi Systems Inc), Credit Agreement (Osi Systems Inc)

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Assignment of Payments. Except with respect to contracts for which the government has determined that a prohibition on assignment of claims is in the government’s interest, each of the Credit Parties and their Subsidiaries Borrower has the right to assign to the Administrative Agent all payments due or to become due under each of such Personthe Borrower’s Government Contractsor the Restricted Subsidiary’s government contracts, and there exists no uncancelled prior assignment of payments under any of such Credit PartyPerson’s Government Contractsgovernment contracts.

Appears in 3 contracts

Samples: Senior Secured Credit Agreement (Titan Corp), Senior Secured Credit Agreement (Titan Corp), Senior Secured Credit Agreement (Titan Corp)

Assignment of Payments. Except with respect to contracts for which the government has determined that a prohibition on assignment of claims is in the government’s interest, each of the Credit Parties and their Subsidiaries has the right to assign to the Administrative Agent Purchaser all payments due or to become due under each of such Person’s Government Contracts, and there exists no uncancelled prior assignment of payments under any of such Credit Party’s Government Contracts.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Tel Instrument Electronics Corp), Securities Purchase Agreement (Tel Instrument Electronics Corp)

Assignment of Payments. Except with respect to contracts for which that are subject to the government has determined that a prohibition on assignment Federal Assignment of claims is in the government’s interestClaims Act and comparable state law, each of the Credit Parties and their Subsidiaries has the right to assign to the Administrative Agent all payments due or to become due under each of such Person’s Government Contracts, and there exists no uncancelled prior assignment of payments under any of such Credit Party’s Government Contracts.

Appears in 1 contract

Samples: Credit Agreement (Atlas Merger Subsidiary, Inc.)

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Assignment of Payments. Except with respect to contracts for which the government has determined that a prohibition on assignment of claims is in the government’s interest, each of the Credit Parties and their Subsidiaries Party has the right to assign to the Administrative Agent all payments due or to become due under each of such Personthe Credit Party’s Government Contracts, and there exists no uncancelled prior assignment of payments under any of such Credit Party’s Government Contracts.

Appears in 1 contract

Samples: Credit Agreement (Sunair Electronics Inc)

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