Examples of Financing Source in a sentence
Customer shall reasonably cooperate with System Owner’s efforts to obtain financing for the System, and hereby consents to the collateral assignment of this Agreement to any Financing Source of System Owner.
A Financing Source shall have the right, but not the obligation, to pay all sums due by System Owner under this Agreement and to perform any other act, duty or obligation required of System Owner thereunder or cause to be cured any Event of Default of System Owner thereunder in the time and manner provided by the terms of this Agreement.
Allowing a Financing Source to step into the shoes of the System Owner and cure Events of Default is beneficial for the Customer and attractive to potential Financing Sources.
Subject to the Financing Source rights set forth in Section 13 hereof, upon the occurrence and during the continuation of any Event of Default hereunder, the non-defaulting Party shall have the option, but not the obligation, to terminate this Agreement upon providing written notice of termination to the defaulting Party.
Financing Source: ($m.)BORROWER 136INTERNATIONAL BANK FOR RECONSTRUCTION AND 150DEVELOPMENT 6.