Assignment and Security Sample Clauses
The "Assignment and Security" clause governs the transfer of rights or obligations under a contract and the use of contractual interests as collateral. Typically, it sets out whether a party may assign its rights or delegate its duties to another party, and under what conditions such assignments are permitted, such as requiring prior written consent. Additionally, it may address the ability to grant security interests in the contract, for example, pledging contractual rights to a lender as security for a loan. This clause ensures that all parties maintain control over who may assume contractual responsibilities or benefit from the agreement, thereby protecting against unwanted third-party involvement and managing the risk of unauthorized transfers.
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Assignment and Security. The Lessee and the Lessor may not assign or transfer or purport to assign or transfer any right or obligation under this Agreement without the written consent of the FleetCo Security Agent, save that the Lessor may enter into an assignment by way of security or grant a right of pledge over, amongst other things, certain of the Lessor's rights, title and interest in and under this Agreement pursuant to or as contemplated in any Transaction Document.
Assignment and Security. 34.1 Without prejudice to any assignment or other transfer of the rights or obligations of either Party under this Agreement required or effected by or under statute or by operation of law, and save as permitted by this clause or with the prior written consent of the other Party, neither Party may assign this Agreement or the rights arising under this Agreement nor create any security over this Agreement or such rights or over any property or rights forming part of the Toll Road.
34.2 For the purpose of financing the construction or operation of the Toll Road, the Developer may in security assign its rights under this Agreement to the Lenders (or the Lenders' Agent) and create any other forms of security over it or over any property or rights forming part of the Toll Road to the Lenders (or the Lenders' Agent) provided that all such rights and forms of security (but for the avoidance of doubt not including security over the Project Agreements) shall cease in relation to the Toll Road upon termination of this Agreement.
34.3 The Grantor shall upon the request of the Developer enter into a direct agreement with the Lenders in a form approved by the Grantor.
34.4 The Grantor may transfer or assign its rights and obligations under this Agreement to a different company wholly owned by the State and/or a governmental department and the Developer shall co-operate with the Grantor in completing the formalities of any transfer or assignment including by executing any additional documents as may be required by the Grantor PROVIDED THAT at the same time the Grantor procures that the Government Guarantee is amended to guarantee the obligations of such assignee or transferee on the same terms as the Grantor's obligations are guaranteed. All costs of such an assignment shall be borne by the Grantor and/or the assignee or transferee.
Assignment and Security a. LICENSEE shall not assign this Agreement to any other party, and any attempt by LICENSEE to assign it shall be void ab initio. LICENSEE agrees to implement and maintain adequate and commercially reasonable security measures to ensure LICENSEE’s compliance with the provisions, terms, restrictions, and warranties set forth in this Agreement.
Assignment and Security. Assignment of Receivables, Legal Cause 10. Cheques, Direct Debit, Bills of Exchange
Assignment and Security. 16 6.1 Assignment 16 6.2 Creation of Security 16
Assignment and Security. 18 SECTION 7: TERMINATION 20
Assignment and Security. 14.1.1 Notwithstanding any change in the law of India after the date hereof which might otherwise permit the assignment of this Agreement, no party may (save as permitted pursuant to Article 14.1.2) assign this Agreement or any right or obligation arising under or pursuant to it or any benefit or interest herein or create or permit to subsist any Security over this Agreement or any right or obligation arising under or pursuant to it or any benefit or interest in it.
14.1.2 For the purposes of providing Security to the Lenders, HIAL may assign and transfer certain or all of its rights and obligations under this Agreement provided that HIAL shall first notify GoI of the identity of any Lenders to whom it intends to assign and transfer its rights and obligations under this Agreement in accordance with this Article. ▇▇▇, acting reasonably, shall be entitled, within a period of ten (10) days of such notice to notify HIAL that it objects to the assignment or transfer to one or more of the Lenders so notified by HIAL in which event HIAL shall not be permitted to assign and transfer its rights and obligations under this Agreement to those Lenders so notified by GoI.
14.1.3 HIAL covenants that it will not delegate, whether by sub-concession or otherwise, all of its rights and obligations under this Agreement; provided however HIAL may employ contractors for construction, operation and maintenance and for discharging some of its obligations under this Agreement. For the avoidance of doubt, it is stated that engagement of contractors by HIAL for discharging some of its obligations shall not absolve the principal obligations of HIAL as contemplated in this Agreement.
Assignment and Security. In the Indenture, the Issuer will assign to the Trustee its right, title and interest in and to the Revenues, including without limitation, all Loan Payments and other amounts receivable by or on behalf of the Issuer under the Agreement in respect of repayment of the Loan; the Agreement, executed for the Unassigned Issuer's Rights; and the Notes.
Assignment and Security. Each Concessionaire may by an instrument expressed to be governed by the laws of either France or England assign this Agreement or its rights hereunder, with the consent of the Principals, to any company.
Assignment and Security. No assignment or transfer by a Party of this Agreement or such Party’s rights or obligations hereunder shall be effective without the prior written consent of the other Party, except as provided in Sections 11.2(a) and (c).