Common use of ASSIGNMENT AND NOVATION Clause in Contracts

ASSIGNMENT AND NOVATION. 39.1 The Supplier shall not assign, novate or otherwise dispose of or create any trust in relation to any or all of its rights, obligations or liabilities under this Contract without Approval. 39.2 Subject to Clause 39.1, the Supplier may assign to a third party (“the Assignee”) the right to receive payment of the Charges or any part thereof due to the Supplier under this Contract (including any interest to which DFID is liable under the Late Payments of Commercial Debts (Interest) Act 1998). Any assignment under this Clause 39.2 shall be subject to: 39.2.1 deduction of any sums in respect of which DFID exercises its right of recovery under Clause 19 (Retention and Set Off); 39.2.2 all related rights of DFID under the Contract in relation to the recovery of sums due but unpaid; and 39.2.3 DFID receiving notification under both Clauses 39.3 and 39.4. 39.3 In the event that the Supplier assigns the right to receive the Charges under Clause 39.2, the Supplier shall notify DFID in writing of the assignment and the date upon which the assignment becomes effective. 39.4 The Supplier shall notify DFID of the assignee’s contact information and bank account details to which DFID shall make payment.

ASSIGNMENT AND NOVATION. 39.1 40.1 The Supplier shall not assign, novate or otherwise dispose of or create any trust in relation to any or all of its rights, obligations or liabilities under this Contract without Approvalthe prior written consent of DFID. 39.2 40.2 Subject to Clause 39.140.1, the Supplier may assign to a third party (“the Assignee”) the right to receive payment of the Charges Contract Price or any part thereof due to the Supplier under this Contract (including any interest to which DFID is liable under the Late Payments of Commercial Debts (Interest) Act 1998). Any assignment under this Clause 39.2 clause 40.2 shall be subject to: 39.2.1 (a) deduction of any sums in respect of which DFID exercises its right of recovery under Clause 19 18 (Retention and Set OffRecovery of Sums Due); 39.2.2 (b) all related rights of DFID under the Contract in relation to the recovery of sums due but unpaid; and 39.2.3 (c) DFID receiving notification under both Clauses 39.3 clauses 40.3 and 39.440.4. 39.3 40.3 In the event that the Supplier assigns the right to receive the Charges Contract Price under Clause 39.2clause 40.2, the Supplier shall notify DFID in writing of the assignment and the date upon which the assignment becomes effective. 39.4 40.4 The Supplier shall notify DFID of the assignee’s contact information and bank account details to which DFID shall make payment.

ASSIGNMENT AND NOVATION. 39.1 The Supplier shall not assign, novate or otherwise dispose of or create any trust in relation to any or all of its rights, obligations or liabilities under this Contract without Approval. 39.2 Subject to Clause 39.1, the Supplier may assign to a third party (“the Assignee”) the right to receive payment of the Charges or any part thereof due to the Supplier under this Contract (including any interest to which DFID FCDO is liable under the Late Payments of Commercial Debts (Interest) Act 1998). Any assignment under this Clause 39.2 shall be subject to: 39.2.1 deduction of any sums in respect of which DFID FCDO exercises its right of recovery under Clause 19 (Retention and Set Off); 39.2.2 all related rights of DFID FCDO under the Contract in relation to the recovery of sums due but unpaid; and 39.2.3 DFID FCDO receiving notification under both Clauses 39.3 and 39.4. 39.3 In the event that the Supplier assigns the right to receive the Charges under Clause 39.2, the Supplier shall notify DFID FCDO in writing of the assignment and the date upon which the assignment becomes effective. 39.4 The Supplier shall notify DFID FCDO of the assignee’s contact information and bank account details to which DFID FCDO shall make payment.

ASSIGNMENT AND NOVATION. 39.1 38.1 The Supplier shall not assign, novate or otherwise dispose of or create any trust in relation to any or all of its rights, obligations or liabilities under this Contract without Approval. 39.2 38.2 Subject to Clause 39.138.1, the Supplier may assign to a third party (“the Assignee”) the right to receive payment of the Charges or any part thereof due to the Supplier under this Contract (including any interest to which DFID is liable under the Late Payments of Commercial Debts (Interest) Act 1998). Any assignment under this Clause 39.2 38.2 shall be subject to: 39.2.1 38.2.1 deduction of any sums in respect of which DFID exercises its right of recovery under Clause 19 18 (Retention and Set Off); 39.2.2 38.2.2 all related rights of DFID under the Contract in relation to the recovery of sums due but unpaid; and 39.2.3 38.2.3 DFID receiving notification under both Clauses 39.3 38.3 and 39.438.4. 39.3 38.3 In the event that the Supplier assigns the right to receive the Charges under Clause 39.238.2, the Supplier shall notify DFID in writing of the assignment and the date upon which the assignment becomes effective. 39.4 38.4 The Supplier shall notify DFID of the assignee’s contact information and bank account details to which DFID shall make payment.

ASSIGNMENT AND NOVATION. 39.1 38.1 The Supplier shall not assign, novate or otherwise dispose of or create any trust in relation to any or all of its rights, obligations or liabilities under this Contract without Approval. 39.2 38.2 Subject to Clause 39.138.1, the Supplier may assign to a third party (“the Assignee”) the right to receive payment of the Charges or any part thereof due to the Supplier under this Contract (including any interest to which DFID is liable under the Late Payments of Commercial Debts (Interest) Act 1998). Any assignment under this Clause 39.2 38.2 shall be subject to: 39.2.1 38.2.1 deduction of any sums in respect of which DFID exercises its right of recovery under Clause 19 18 (Retention and Set Off); 39.2.2 38.2.2 all related rights of DFID under the Contract in relation to the recovery of sums due but unpaid; and 39.2.3 38.2.3 DFID receiving notification under both Clauses 39.3 38.3 and 39.438.4. 39.3 38.3 In the event that the Supplier assigns the right to receive the Charges under Clause 39.238.2, the Supplier shall notify DFID in writing of the assignment and the date upon which the assignment becomes effective. 39.4 38.4 The Supplier shall notify DFID of the assignee’s contact information and bank account details to which DFID shall make payment.. Default and Termination