Common use of Credit and Collateral Covenants Clause in Contracts

Credit and Collateral Covenants. Owner shall, from time to time as requested by CHGE, execute, acknowledge, record, register, deliver and file all such notices, statements, instruments and other documents as may be necessary or advisable to render fully valid and enforceable under all Applicable Laws the rights, liens and priorities of CHGE with respect to the Security Interest provided for herein and therein. Owner may not cause or permit the stock or other equity ownership interest in Owner or assets of Owner to be pledged or assigned, as collateral or otherwise, to any party other than Lender under a Collateral Assignment Agreement. Owner may not hold any material assets, become liable for any material obligations or engage in any material business activities other than the development, construction and operation of the Project. Owner may not own, form or acquire, or otherwise conduct any of its activities through, any direct or indirect subsidiary. During any period during which Owner is a Defaulting Party, Owner shall not: declare or pay any dividend, or make any other distribution or payment, on account of any equity interest in Owner; or otherwise make any distribution or payment to any Affiliate of Owner.

Credit and Collateral Covenants. Owner shall, from time to time as requested by CHGERG&E, execute, acknowledge, record, register, deliver and file all such notices, statements, instruments and other documents as may be necessary or advisable to render fully valid and enforceable under all Applicable Laws the rights, liens and priorities of CHGE RG&E with respect to the Security Interest provided for herein and therein. Owner may not cause or permit the stock or other equity ownership interest in Owner or assets of Owner to be pledged or assigned, as collateral or otherwise, to any party other than Lender under a Collateral Assignment Agreement. Owner may not hold any material assets, become liable for any material obligations or engage in any material business activities other than the development, construction and operation of the Project. Owner may not own, form or acquire, or otherwise conduct any of its activities through, any direct or indirect subsidiary. During any period during which Owner is a Defaulting Party, Owner shall not: declare or pay any dividend, or make any other distribution or payment, on account of any equity interest in Owner; or otherwise make any distribution or payment to any Affiliate of Owner.

Credit and Collateral Covenants. Owner shall, from time to time as requested by CHGENYSEG, execute, acknowledge, record, register, deliver and file all such notices, statements, instruments and other documents as may be necessary or advisable to render fully valid and enforceable under all Applicable Laws the rights, liens and priorities of CHGE NYSEG with respect to the Security Interest provided for herein and therein. Owner may not cause or permit the stock or other equity ownership interest in Owner or assets of Owner to be pledged or assigned, as collateral or otherwise, to any party other than Lender under a Collateral Assignment Agreement. Owner may not hold any material assets, become liable for any material obligations or engage in any material business activities other than the development, construction and operation of the Project. Owner may not own, form or acquire, or otherwise conduct any of its activities through, any direct or indirect subsidiary. During any period during which Owner is a Defaulting Party, Owner shall not: declare or pay any dividend, or make any other distribution or payment, on account of any equity interest in Owner; or otherwise make any distribution or payment to any Affiliate of Owner.

Credit and Collateral Covenants. Owner shall, from time to time as requested by CHGEXXXX, execute, acknowledge, record, register, deliver and file all such notices, statements, instruments and other documents as may be necessary or advisable to render fully valid and enforceable under all Applicable Laws the rights, liens and priorities of CHGE with respect to the Security Interest provided for herein and therein. Owner may not cause or permit the stock or other equity ownership interest in Owner or assets of Owner to be pledged or assigned, as collateral or otherwise, to any party other than Lender under a Collateral Assignment Agreement. Owner may not hold any material assets, become liable for any material obligations or engage in any material business activities other than the development, construction and operation of the Project. Owner may not own, form or acquire, or otherwise conduct any of its activities through, any direct or indirect subsidiary. During any period during which Owner is a Defaulting Party, Owner shall not: declare or pay any dividend, or make any other distribution or payment, on account of any equity interest in Owner; or otherwise make any distribution or payment to any Affiliate of Owner.