Common use of Permitted assignment and charges Clause in Contracts

Permitted assignment and charges. The restraints set forth in Clause 17 shall not apply to: (a) liens arising by operation of law (or by an agreement evidencing the same) in the ordinary course of business of the Project; (b) mortgages/pledges/hypothecation of Project Assets and their related documents of title, arising or created in the ordinary course of business of the Project, and as security only for indebtedness to the Lead Lender(s) under the Financing Agreements; (c) assignment of rights, interest and obligations of Seller to or in favour of the Lead Lender(s); (d) assignment of this Agreement by way of security to the Finance Parties. Seller shall notify CEB of any such assignment to the Finance Parties no later than 30 (thirty) Days prior to such assignment and submit to CEB a copy of any assignment documents which it proposes to enter. Seller shall consider the comments of CEB, if any, on the assignment documents prior to the execution of such documents; and (e) liens or encumbrances required by any Applicable Law.

Permitted assignment and charges. The restraints set forth in Clause 17 shall not apply to: (a) liens arising by operation of law (or by an agreement evidencing the same) in the ordinary course of business of the Project; (b) mortgages/pledges/hypothecation of Project Assets and their related documents of title, arising or created in the ordinary course of business of the Project, and as security only for indebtedness to the Lead Lender(s) under the Financing Agreements; (c) assignment of rights, interest and obligations of Seller to or in favour of the Lead Lender(s), security agents or trustees; (d) assignment of this Agreement by way of security to the Finance Parties. Seller shall notify CEB of any such assignment to the Finance Parties no later than 30 (thirty) Days prior to such assignment and submit to CEB a copy of any assignment documents which it proposes to enter. Seller shall consider the comments of CEB, if any, on the assignment documents prior to the execution of such documents; and (e) liens or encumbrances required by any Applicable Law.