Assignment of Right to Distributions Clause Samples

The Assignment of Right to Distributions clause defines the conditions under which a party may transfer their entitlement to receive payments or profits from an agreement to another party. Typically, this clause outlines whether such assignments are permitted, if prior consent is required, and any procedures or restrictions involved, such as notifying the other party or meeting specific criteria. Its core practical function is to control and clarify the transferability of financial benefits under the contract, thereby preventing unauthorized assignments and ensuring all parties are aware of and agree to any changes in who receives distributions.
Assignment of Right to Distributions. An Owner may assign all or any part of its right to receive distributions hereunder, but such assignment (in the absence of a permitted Transfer) shall effect no change in the ownership of the Trust.
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Assignment of Right to Distributions. 13 ARTICLE IV
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Assignment of Right to Distributions. Each Member shall have the right to sell, transfer or assign, for cash, or cash and notes, by a written instrument its right to receive distributions of cash or other property from the Company; provided that any such assignment is not secured by the Interests and further provided that such an assignee shall not be substituted as a Substitute Member in place of any Member.
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Assignment of Right to Distributions. 4 Section 3.06 Transfer.......................................................5 Section 3.07 Federal Income Tax Allocations.................................5 ARTICLE IV
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Assignment of Right to Distributions. An Owner may assign all or any part of its right to receive distributions hereunder, but such assignment (in the absence of a permitted Transfer) shall effect no change in the ownership of the Trust. ARTICLE IV CONCERNING THE OWNERS Section 4.01 Action by Owners with Respect to Certain Matters. (a) The Owner Trustee will take such action or refrain from taking such action under this Agreement or any Trust Related Agreement as it shall be directed pursuant to an express provision of this Agreement or such Trust Related Agreement or, with respect to nonministerial matters, as it shall be directed by all the Owners for so long as any of the Notes are outstanding. (b) Without limiting the generality of the foregoing, in connection with the following nonministerial matters, the Owner Trustee will take no action, and will not have authority to take any such action, unless it receives prior written approval from all the Owners for so long as any of the Notes are outstanding: (i) Initiate any claim or lawsuit by the Trust and compromise any claim or lawsuit brought by or against the Trust, except for claims or lawsuits initiated in the ordinary course of business by the Trust or its agents or nominees for collection on the Student Loans owned by the Trust; (ii) Amend, change or modify this Agreement or any Trust Related Agreement; (iii) To the fullest extent permitted by applicable law, file a voluntary petition in bankruptcy for the Trust, which in no event shall the Owner Trustee be permitted to do or be instructed to do until at least 367 days after the payment in full of the Outstanding Notes (as defined in the Indenture) issued by the Trust; and (iv) To the fullest extent permitted by applicable law, (A) Institute proceedings to have the Trust declared or adjudicated bankrupt or insolvent, (B) consent to the institution of bankruptcy or insolvency proceedings against the Trust, (C) file a petition or consent to a petition seeking reorganization or relief on behalf of the Trust under any applicable federal or state law relating to bankruptcy, (D) consent to the appointment of a receiver, liquidator, assignee, trustee, sequestrator (or any similar official) of the Trust or a substantial portion of the property of the Trust, (E) make any assignment for the benefit of the Trust’s creditors, (F) cause the Trust to admit in writing its inability to pay its debts generally as they become due, or (G) take any action, or cause the Trust to take any action, in furthera...
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Assignment of Right to Distributions. 8 ARTICLE IV
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Assignment of Right to Distributions. No Beneficiary may assign or otherwise transfer any right to distributions under this Agreement or any other rights under this Agreement, other than by will, intestate succession or operation of law. The Trustee will not take any action to facilitate or encourage any trading in the Beneficial Interests or in any instrument tied to the value of the Beneficial Interests. No transfer, by operation of law, of the right to distributions or other rights shall operate to terminate the Trust under this Agreement or entitle any successor or transferee of the Beneficiary to an accounting or to the transfer to it of legal title to any part of the Trust Property.
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Assignment of Right to Distributions. Notwithstanding anything to the contrary otherwise contained in this Agreement, a Member, without the consent of any other Member, may assign all or any portion of its right to receive distributions under Section 5.03 by reason of its Member’s Interest as security for borrowings used for Company purposes to the extent, but only to the extent, of such Member’s proportionate interest therein; provided, however, that (A) such assignment shall not release such Member from any of its obligations or liabilities hereunder, and (B) no assignee of such Member’s Interest shall have the right to become a Member for any purpose as a result of such assignment.
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Related to Assignment of Right to Distributions

  • Allocation of Rights (1) Except as provided in paragraph (c) of this clause, HTFC shall have unlimited rights in: (i) Data first produced in the performance of this contract; (ii) Form, fit, and function data delivered under this contract; (iii) Data delivered under this contract (except for restricted computer software) that constitute manuals or instructional and training material for installation, operation, or routine maintenance and repair of items, components, or processes delivered or furnished for use under this contract; and (iv) All other data delivered under this contract unless provided otherwise for limited rights data or restricted computer software in accordance with paragraph (g) of this clause. (2) The Contractor shall have the right to: (i) Assert copyright in data first produced in the performance of this contract to the extent provided in paragraph (c)(1) of this clause; (ii) Use, release to others, reproduce, distribute, or publish any data first produced or specifically used by the Contractor in the performance of this contract, unless provided otherwise in paragraph (d) of this clause; (iii) Substantiate the use of, add, or correct limited rights, restricted rights, or copyright notices and to take other appropriate action, in accordance with paragraphs (e) and (f) of this clause; and (iv) Protect from unauthorized disclosure and use those data that are limited rights data or restricted computer software to the extent provided in paragraph (g) of this clause.

  • STATEMENT OF RIGHTS 4.1. The State of Vermont reserves the right to obtain clarification or additional information necessary to properly evaluate a proposal. The Contractor may be asked to give a verbal presentation of its proposal after submission. Failure of Contractor to respond to a request for additional information or clarification could result in rejection of the Contractor’s proposal. To secure a project that is deemed to be in the best interest of the State, the State reserves the right to accept or reject any and all bids, in whole or in part, with or without cause, and to waive technicalities in submissions. The State also reserves the right to make purchases outside of the awarded contracts where it is deemed in the best interest of the State.

  • Assignment of Rights Borrower acknowledges and understands that Agent or Lender may, subject to Section 11.7, sell and assign all or part of its interest hereunder and under the Loan Documents to any Person or entity (an “Assignee”). After such assignment the term “Agent” or “Lender” as used in the Loan Documents shall mean and include such Assignee, and such Assignee shall be vested with all rights, powers and remedies of Agent and Lender hereunder with respect to the interest so assigned; but with respect to any such interest not so transferred, Agent and Lender shall retain all rights, powers and remedies hereby given. No such assignment by Agent or Lender shall relieve Borrower of any of its obligations hereunder. Lender agrees that in the event of any transfer by it of the Note(s)(if any), it will endorse thereon a notation as to the portion of the principal of the Note(s), which shall have been paid at the time of such transfer and as to the date to which interest shall have been last paid thereon.

  • Rights of the Holders to Receive Payment Notwithstanding any other provision of this Indenture, the right of any Holder to receive payment of principal of and interest on the Securities held by such Holder, on or after the respective due dates expressed or provided for in the Securities, or to bring suit for the enforcement of any such payment on or after such respective dates, shall not be impaired or affected without the consent of such Holder.

  • Reversion of Rights Notwithstanding anything to the contrary set forth herein (including, but not limited to, Section 5 hereof), full responsibility for Prosecution of the Patent Rights shall, at the option of CSMC (exercisable in its sole and absolute discretion), and at its sole expense from the date of reversion, revert to CSMC upon any termination of this Agreement.