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AgdaPkt 2015-03-23 Closed and Joint SA PFA
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AgdaPkt 2015-03-23 Closed and Joint SA PFA
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Last modified
3/24/2015 9:22:13 AM
Creation date
3/19/2015 4:55:14 PM
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Template:
CC Index
CC Index - Document Type
Agenda Packet
Meeting Type
Joint
Agency Type
City Council and Successor Agency and Public Financing Authority
Date
3/23/2015
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8.A. - Page 53 <br /> Successor-in-Interest cures any and all Seller Defaults, the respective Buyer and <br /> Seller rights and obligations shall resume for the remainder of the Term. No partial <br /> or complete waiver of Buyer's rights shall be implied from Buyer's actions <br /> pursuant to this paragraph. <br /> 12.4 Payments and Notices <br /> If a Collateral Assignee elects to become the Successor-in-Interest, it will be solely <br /> responsible for notifying the Seller and any other Collateral Assignees of this intention. <br /> The Buyer shall not be responsible for passing any notices, information and/or <br /> communications between the Seller and Collateral Assignees. If a Collateral Assignee does <br /> become a Successor-in-Interest, Buyer shall make all payments due under this Agreement <br /> to an account specified by such Collateral Assignee. For avoidance of doubt, upon the <br /> Collateral Assignee becoming the Successor-in-Interest the previous Seller shall not retain <br /> any of its rights or obligations under this Agreement and payments made by Buyer to the <br /> Successor-in-Interest shall satisfy Buyer's payment obligations under this Agreement. <br /> Seller is solely responsible to provide contact information, including mailing addresses, <br /> email addresses and phone numbers for all Collateral Assignment assignees and Full <br /> Assignment assignees to Buyer. Buyer shall notify all Collateral Assignment assignees for <br /> which it has contact information within 15 days of a Seller Default. Seller shall be solely <br /> responsible for any instance where a Collateral Assignment assignee does not receive <br /> notice due to the Seller not providing contact information to Buyer. <br /> Collateral Assignee Changes. Buyer acknowledges and agrees that Seller, subject to the <br /> terms and conditions of this Agreement may change one or more Collateral Assignment <br /> assignees. In the case that a Seller changes a Collateral Assignment assignee, Seller shall <br /> provide Buyer with any relevant, new contact information and payment directions as <br /> instructed by Seller.The terms and conditions of this Agreement,apply to any change in <br /> Financing Party by Seller. <br /> Notwithstanding any language to the contrary,when any assignee chooses to exercise any <br /> rights against Buyer, it shall indemnify Buyer per the terms of this Agreement (and shall <br /> agree to do so in writing upon request by Buyer) for any claims arising from the exercise <br /> of such rights. By way of example and not limitation,such indemnification obligations shall <br /> extend to claims by other Financing Parties and Collateral Assignees asserted against <br /> Buyer. Any assignee's ability to exercise any rights against Buyer shall be contingent on <br /> the assignee's assumption of such indemnification obligations. <br /> ARTICLE 13: OTHER TERMS&CONDITIONS <br /> 13.1 NOTICES <br /> All deliveries, notices, requests, demands or other communications provided for or <br /> required by this Agreement shall be in writing and shall be deemed to have been given <br /> ATTY/AGR/2015.012/POWER PURCHASE AGREEMENT-CD SOLAR ONE LLC <br /> REV:01-21-15 MLG <br /> Page 45 of 55 <br />
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