Common use of Permitted Charges Clause in Contracts

Permitted Charges. 15.2.1 WPD shall not create or permit to subsist any encumbrance over all or any of its rights and benefits under this Agreement, other than as set forth in Article 15.1. However, the WPD may create any encumbrance over all or part of the receivables, payment mechanism, or the RFS Documents in favour of the Project Lenders or Lender’s Representative on their behalf, as security for their debt under the Financing Agreements.

Permitted Charges. 15.2.1 WPD shall not create or permit to subsist any encumbrance over all or any of its rights and benefits under this Agreement, other than as set forth in Article 15.1. However, the WPD may create any encumbrance over all or part of the receivables, payment mechanism, or the RFS Documents in favour of the Project Lenders or Lender’s Representative on their behalf, as security for their debt under the Financing Agreements.

Permitted Charges. 15.2.1 WPD shall not create or permit to subsist any encumbrance over all or any of its rights and benefits under this Agreement, other than as set forth in Article 15.1. However, the WPD may create any encumbrance over all or part of the receivables, payment mechanism, or the RFS RFP Documents in favour of the Project Lenders or Lender’s Representative on their behalf, as security for their debt under the Financing Agreements.