Notice of Assignment of Proceeds Sample Clauses

Notice of Assignment of Proceeds. (a) Except as provided in Section 2.2(b), so long as no Event of Default has occurred, Borrower may collect for its own use and enjoyment all amounts and all monies owing to Borrower by any account debtor to Borrower or all proceeds from the sale of Hydrocarbons from or allocable to Borrower’s Net Revenue Interest in the Properties. Following an Event of Default, Borrower shall cooperate with Administrative Agent to deliver to each Operator, Purchaser and other Person that is an account debtor to Borrower, written notice (substantially in the form of Exhibit G) from Administrative Agent (as assignee) and Borrower that all amounts owing to Borrower by that Person—including all proceeds from the sale of Hydrocarbons from or allocable to Borrower’s Net Revenue Interest in the Properties—have been assigned to Administrative Agent and are to be paid into the Project Account. Borrower shall Cause all recipients of the notices to remit all amounts owing to Borrower directly to the Project Account. Subject to any then existing contractual obligations that are not cancelable without penalty and subject to Borrower’s legal right to direct to whom its Hydrocarbons are sold, Borrower shall not sell Hydrocarbons to any Purchaser or through an Operator that refuses to timely acknowledge the notice of assignment of proceeds and pay amounts directly into the Project Account as required by this Section 2.2.
Sample 1
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Notice of Assignment of Proceeds. Following an Event of Default, Borrower shall cooperate with Administrative Agent to deliver to each Operator, Purchaser and other Person that is an account debtor to Borrower, written notice (substantially in the form of Exhibit G) from Administrative Agent (as assignee) and Borrower that all amounts owing to Borrower by that Person—including all proceeds from the sale of Hydrocarbons from or allocable to Borrower’s Net Revenue Interest in the Properties—have been assigned to Administrative Agent and are to be paid into the Payment Account. Borrower shall Cause all recipients of the notices to remit all amounts owing to Borrower directly to the Payment Account. Subject to any then existing contractual obligations that are not cancelable without penalty and subject to Borrower’s legal right to direct to whom its Hydrocarbons are sold, Borrower shall not sell Hydrocarbons to any Purchaser or through an Operator that refuses to timely acknowledge the notice of assignment of proceeds and pay amounts directly into the Payment Account as required by this Section 2.2.
Sample 1
Notice of Assignment of Proceeds. All of Borrowers’ account debtors (including any Operator and Purchasers) relating to any Borrower’s Working Interest or Net Revenue Interest in the Properties will receive notification from Lender (as assignee) and Borrowers, substantially in the form of Exhibit H, that all proceeds from sales of all production or transmission of Hydrocarbons from, or allocable to, Borrower’s Net Revenue Interest in the Properties have been assigned to Lender and are to be paid into the Project Account. Each Borrower shall use its best efforts to cause all Purchasers to execute the assignment notifications to confirm their agreement to remit all proceeds from sales of all production from or allocable to each Borrower’s Net Revenue Interest in the Properties into the Project Account. Subject to applicable contractual obligations and restrictions, Lender will have the right to prohibit Borrowers from selling any Hydrocarbons from or allocable to the Properties to any Purchaser who refuses to timely acknowledge and abide by the payment instructions set forth in any notice under this Section 3.1(b).
Sample 1
Notice of Assignment of Proceeds. All of Borrower’s account debtors (including any Operators and Purchasers) relating to Borrower’s Working Interest or Net Revenue Interest in the Properties will receive notification from the Administrative Agent (as assignee) and Borrower, substantially in the form of Exhibit H, that all proceeds from sales of all production or transmission of Hydrocarbons from or allocable to Borrower’s Net Revenue Interest in the Properties have been assigned to the Administrative Agent and are to be paid into the Project Account. Borrower shall use commercially reasonable efforts to cause all Purchasers to execute the assignment notifications to confirm their agreement to remit all proceeds from sales of all production from or allocable to Borrower’s Net Revenue Interest in the Properties into the Project Account. Subject to applicable contractual obligations and restrictions, the Administrative Agent will have the right to prohibit Borrower from selling any Hydrocarbons from or allocable to the Properties to any Purchaser who refuses to timely acknowledge and abide by the payment instructions set forth in any notice under this Section 3.1(b).
Sample 1
Notice of Assignment of Proceeds. All account debtors of the Borrower and each Designated Borrower (including any operator and Hydrocarbon Purchasers) relating to Mortgaged Properties of the Borrower and each Designated Borrower will receive notification from the Borrower or such Designated Borrower (and by the Administrative Agent, if it desires to be a signatory), substantially in the form of Exhibit C, that all proceeds from sales of all production or transmission of Hydrocarbons from or allocable to the Mortgaged Properties of the Borrower and such Designated Borrowers have been assigned to Administrative Agent and are to be paid into a deposit account or accounts applicable to the relevant Borrower, Designated Borrower or other Subsidiary which is (i) covered by a Deposit Account Control Agreement or (ii) maintained by the Administrative Agent provided that payment notifications need not be sent to those account debtors who are making payments into the POGM Deposit Accounts for oil, gas and other hydrocarbons marketed by POGM so long as the POGM Deposit Accounts are subject to a Deposit Account Control Agreement. Each of the Borrower and each Designated Borrower shall use its best efforts to cause all other Hydrocarbon Purchasers, as well as POGM, to execute the assignment notifications to confirm their agreement to remit all proceeds from sales of all production from or allocable to the Mortgaged Properties of the Borrower and such Designated Borrowers into the applicable deposit account within thirty (30) days after the Effective Date. Subject to applicable contractual restrictions, without the written consent of the Administrative Agent, none of Borrower, any Designated Borrower or any Subsidiary shall be permitted to sell any Hydrocarbons from or allocable to the Mortgaged Properties to any Hydrocarbon Purchaser who refuses to timely acknowledge and abide by the payment instructions set forth in any notice under this Section.
Sample 1
Notice of Assignment of Proceeds. All of Borrower’s account debtors, if any, (including any Operator and Purchasers) relating to Borrower’s Working Interest or Net Revenue Interest in the Properties will receive notification from Lender (as assignee) and Borrower, as applicable, substantially in the form of Exhibit J that all proceeds from sales of all production or transmission of Hydrocarbons from, or allocable to, Borrower’s Net Revenue Interest in the Properties have been assigned to Lender and are to be paid into the Project Account. Borrower shall (a) notify Lender within three days of the date Borrower enters into an agreement to sell Hydrocarbons from the Properties and identify the Purchaser thereof and (b) use its best efforts to cause all Purchasers to execute the assignment notifications to confirm their agreement to remit all proceeds from sales of all production from or allocable to Borrower’s Net Revenue Interest in the Properties into the Project Account within thirty (30) days after the date Borrower has identified Purchaser of Hydrocarbons. Subject to applicable contractual restrictions, Lender will have the right to prohibit Borrower from selling any Hydrocarbons from or allocable to the Properties to any Purchaser who refuses to timely acknowledge and abide by the payment instructions set forth in any notice under this Section 3.1(b).
Sample 1

Related to Notice of Assignment of Proceeds

  • Notice of Assignment Upon its receipt of a duly executed and completed Assignment Agreement, together with the processing and recordation fee referred to in Section 10.6(d) (and any forms, certificates or other evidence required by this Agreement in connection therewith), Administrative Agent shall record the information contained in such Assignment Agreement in the Register, shall give prompt notice thereof to Company and shall maintain a copy of such Assignment Agreement.

  • Notification of Assignment of Receivables At any time following the occurrence of an Event of Default or a Default, Agent shall have the right to send notice of the assignment of, and Agent's security interest in, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral. Thereafter, Agent shall have the sole right to collect the Receivables, take possession of the Collateral, or both. Agent's actual collection expenses, including, but not limited to, stationery and postage, telephone and telegraph, secretarial and clerical expenses and the salaries of any collection personnel used for collection, may be charged to Borrowers' Account and added to the Obligations.

  • Acceptance of Assignment Assignee hereby accepts the assignment contained in paragraph 1 hereof.

  • Effect of Assignment Subject to the terms and conditions of this Section 9.6, as of the “Effective Date” specified in the applicable Assignment Agreement: (i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder to the extent such rights and obligations hereunder have been assigned to it pursuant to such Assignment Agreement and shall thereafter be a party hereto and a “Lender” for all purposes hereof; (ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned thereby pursuant to such Assignment Agreement, relinquish its rights (other than any rights which survive the termination hereof under Section 9.8) and be released from its obligations hereunder (and, in the case of an Assignment Agreement covering all or the remaining portion of an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto; provided, anything contained in any of the Credit Documents to the contrary notwithstanding, such assigning Lender shall continue to be entitled to the benefit of all indemnities hereunder as specified herein with respect to matters arising prior to the effective date of such assignment; (iii) the Revolving Commitments shall be modified to reflect the Revolving Commitment of such assignee and any Revolving Commitment of such assigning Lender, if any; and (iv) if any such assignment occurs after the issuance of any Revolving Note hereunder, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Revolving Loan Notes to Administrative Agent for cancellation, and thereupon Company shall issue and deliver new Revolving Loan Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect the new Revolving Commitments and/or outstanding Revolving Loans of the assignee and/or the assigning Lender.

  • FORM OF ASSIGNMENT FOR VALUE RECEIVED, the undersigned hereby sells, assigns, and transfers all the rights of the undersigned under the within Warrant, with respect to the number of shares of Common Stock covered thereby set forth hereinbelow, to: Name of Assignee Address No of Shares , and hereby irrevocably constitutes and appoints ___________________________________ as agent and attorney-in-fact to trans­fer said Warrant on the books of the within-named corporation, with full power of substitution in the premises. Dated: ________ __, 200_ In the presence of: ______________________________ Name:______________________________ Signature:_________________________ Title of Signing Officer or Agent (if any): ______________________________ Address: ______________________________ ______________________________

  • RIGHT OF ASSIGNMENT (6) The Lessee will not assign, transfer, pledge, hypothecate, surrender or dispose of this lease, or any interest herein, sublet, or permit any other person or persons whomsoever to occupy the Premises without the written consent of the Lessor being first obtained in writing; this lease is personal to Lessee; Lessee’s interests, in whole or in part, cannot be sold, assigned, transferred, seized or taken by operation at law, or under or by virtue of any execution or legal process, attachment or proceedings instituted against the Lessee, or under or by virtue of any bankruptcy or insolvency proceedings had in regard to the Lessee, or in any other manner, except as above mentioned. Notwithstanding any provision in this Lease, Lessee may, without Lessor consent, execute and deliver one or more leasehold mortgages (or leasehold trust deeds) to any lender to Lessee with respect hereto.

  • Notices of assignment copies of duly executed notices of assignment required by the terms of the Ship Security Documents and in the forms prescribed by the Ship Security Documents;

  • Terms of Assignment (a) Date of Assignment:

  • FORM OF ASSIGNMENT AND ACCEPTANCE This Assignment and Acceptance (“Assignment and Acceptance”) is dated as of the Effective Date set forth below and is entered into by and between [Insert name of Assignor] (the “Assignor”) and [Insert name of Assignee] (the “Assignee”). Capitalized terms used but not defined herein shall have the meanings given to them in the Credit Agreement identified below, receipt of a copy of which is hereby acknowledged by the Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto (the “Standard Terms and Conditions”) are hereby agreed to and incorporated herein by reference and made a part of this Assignment and Acceptance as if set forth herein in full. For an agreed consideration, the Assignor hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby irrevocably purchases and assumes from the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Effective Date inserted by the Administrative Agent as contemplated below (i) all of the Assignor’s rights and obligations as a Lender under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the extent related to the amount and percentage interest identified below of all of such outstanding rights and obligations of the Assignor under the respective facilities identified below (including, without limitation, Letters of Credit included in such facilities) and (ii) to the extent permitted to be assigned under applicable law, all claims, suits, causes of action and any other right of the Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising under or in connection with the Credit Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions governed thereby or in any way based on or related to any of the foregoing, including, but not limited to, contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity related to the rights and obligations sold and assigned pursuant to clause (i) above (the rights and obligations sold and assigned pursuant to clauses (i) and (ii) above being referred to herein collectively as, the “Assigned Interest”). Such sale and assignment is without recourse to the Assignor and, except as expressly provided in this Assignment and Acceptance, without representation or warranty by the Assignor.

  • Effect of notice of prepayment A prepayment notice may not be withdrawn or amended without the consent of the Lender and the amount specified in the prepayment notice shall become due and payable by the Borrower on the date for prepayment specified in the prepayment notice.

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