Laserfiche WebLink
(1) the Corporation's right to receive and collect all of the Rental Payments and <br />other amounts due from the City under the Lease; <br />(2) the Corporation's right to take all actions and give all consents under the Lease; <br />and the Corporation's right to exercise such rights and remedies conferred on the Corporation <br />pursuant to the Lease as may be necessary or convenient (i) to enforce payment of the <br />Rental Payments or any other obligations of the City under the Lease, or (ii) otherwise to <br />protect the interests of the Investor (as assignee of the Corporation) in the event of default <br />by the City under the Lease; <br />(B) the Escrow Agreement and all amounts credited to the Escrow Fund; <br />(C) all other contracts and documents related to the Lease, including, without limitation, <br />those listed on or attached to the documents listed on the attached Schedule A (all of the foregoing <br />together with the Lease and Escrow Agreement being collectively referred to herein as the "Lease <br />Documents "); and <br />(D) the Corporation's security interest and other rights in the Equipment and all other <br />collateral described in the Lease Documents. The Lease, the Escrow Agreement, the Lease Documents, <br />and the Equipment and all of the Corporation's rights therein are hereinafter collectively referred to <br />as the "Assigned Property." <br />Section 2. Acceptance. The Investor hereby accepts the foregoing assignment, subject to the <br />terms and conditions of this Assignment Agreement. The above assignment is intended to be an <br />absolute and unconditional assignment to the Investor and is not intended as a loan by the Investor to <br />the Corporation. Accordingly, in the event of bankruptcy of the Corporation, the Assigned Property <br />shall not be part of the Corporation's estate. However, if the above assignment is deemed to <br />be a loan by the Investor to the Corporation, then the Corporation shall be deemed to have <br />granted to the Investor, and hereby grants to the Investor, a continuing first priority security interest in <br />the Assigned Property and all proceeds thereof as collateral security for all obligations of the <br />Corporation hereunder and all obligations of the City under the Lease, the Escrow Agreement, and <br />this Assignment Agreement shall be deemed a security agreement with respect to such loan. <br />Section 3. Representations, Warranties, and Agreements. <br />(A) The Corporation represents and warrants to and agrees with the Investor that, as of the <br />Closing Date: <br />(1) the Corporation is a corporation duly organized, validly existing and in good <br />standing under the laws of the state of Delaware, with corporate powers and authority to <br />own its property and carry on its business as now being conducted; <br />(2) the Corporation has full power, authority and legal right to enter into and perform <br />its obligations under the Lease, the Escrow Agreement and this Assignment Agreement and <br />the execution, delivery and performance thereof have been duly authorized by all <br />necessary corporate actions on the part of the Corporation, do not require any <br />stockholder approval or the approval or consent of any trustee or holder of any indebtedness <br />or obligations of the Corporation or such required approvals and consents have <br />heretofore been duly obtained; <br />