Green Bank’s and Capital Provider’s Duties Sample Clauses

Green Bank’s and Capital Provider’s Duties. It is the intent and purpose of the parties that Green Bank or the Municipality shall xxxx for, collect and receive for the benefit of Capital Provider the sums payable under the Financing Documents and the Benefit Assessment and Benefit Assessment Lien, but shall otherwise act at the written direction of Capital Provider with respect to all consents, waivers, rights and remedies available to the Capital Provider under such Financing Documents and Benefit Assessment. Unless Green Bank indicates in writing to Capital Provider, Capital Provider shall be responsible for all other servicing duties pursuant to the Financing Documents, such as, if applicable, obtaining insurance renewals and financial statements from the Borrower and arranging for Property inspections. Green Bank shall promptly deliver to Capital Provider all notices, demands and similar items received by it relating to the Financing Documents.

Green Bank’s and Capital Provider’s Duties. It is the intent and purpose of the parties that Green Bank or the Municipality shall bill for, collect and receive for the benefit of Capital Provider the sums payable under the Financing Documents and the Benefit Assessment and Benefit Assessment Lien, but shall otherwise act at the written direction of Capital Provider with respect to all consents, waivers, rights and remedies available to the Capital Provider under such Financing Documents and Benefit Assessment. Unless Green Bank indicates in writing to Capital Provider, Capital Provider shall be responsible for all other servicing duties pursuant to the Financing Documents, such as, if applicable, obtaining insurance renewals and financial statements from the Borrower and arranging for Property inspections. Green Bank shall promptly deliver to Capital Provider all notices, demands and similar items received by it relating to the Financing Documents. In the event: (x) of an Event of Default under and as defined in the Financing Documents or an event which with the giving of notice or passage of time or both would constitute an Event of Default thereunder (any such event, an “Event of Default”); (y) Green Bank breaches any of its material obligations hereunder; or (z) upon thirty (30) days prior written notice from Green Bank or Capital Provider, and upon written notice by Capital Provider to Green Bank in the case of (x) or (y), Capital Provider may (and in the case of (z), shall) take over the billing and collection duties of Green Bank and, in such event, Capital Provider shall have the sole right, on behalf of Green Bank, to exercise any and all remedies available to it in connection with the billing and collection duties pursuant to this Agreement which are the subject of the Event of Default or notice. If Capital Provider takes over such billing and collection duties pursuant to this Agreement then the Green Bank shall have no obligations to bill or collect pursuant to this Agreement. In such event, the Capital Provider, in its sole capacity, shall continue such billing and collection for the term of the Financing Documents, however all payments made pursuant to the Financing Documents shall continue to be made to the Municipality’s tax collector. Capital Provider shall (1) promptly notify the Green Bank in writing of any agreement(s) with the Borrower for payment of any delinquent amounts pursuant to the Financing Documents and the Benefit Assessment, (2) promptly notify the Borrower in writing ...