Assignment Liability Indemnity Force Majeure Consequential Damages and Default Clause Samples
This clause collectively addresses several key contractual issues: the ability to transfer rights or obligations (assignment), the allocation of responsibility for losses (liability), the obligation to compensate for certain damages (indemnity), the handling of unforeseeable events that prevent performance (force majeure), the exclusion of certain types of damages (consequential damages), and the consequences of failing to meet contractual obligations (default). In practice, it may restrict parties from assigning the contract without consent, limit liability to direct damages, require one party to cover the other's losses in specific situations, excuse performance during extraordinary events like natural disasters, exclude claims for indirect losses, and define what constitutes a default and the remedies available. The core function of this clause is to clearly allocate risk, responsibilities, and remedies between the parties, thereby reducing uncertainty and potential disputes.
Assignment Liability Indemnity Force Majeure Consequential Damages and Default. Notwithstanding any other provision of this Agreement, the liability, indemnification and insurance provisions of the Transmission Operating Agreement (“TOA”) or other applicable operating agreements shall apply to the relationship between the System Operator and the Interconnection Transmission Owner and the liability, indemnification and insurance provisions of the Tariff apply to the relationship between the System Operator and the Interconnection Customer and between the Interconnecting Transmission Owner and the Interconnection Customer.
Assignment Liability Indemnity Force Majeure Consequential Damages and Default. Assignment 7.2 Limitation of Liability 7.3 Indemnity
Assignment Liability Indemnity Force Majeure Consequential Damages and Default. Assignment
6.1.1 Either Party may assign this Agreement without the consent of the other Party to any affiliate (which shall include a merger of the Party with another entity), of the assigning Party with an equal or greater credit rating and with the legal authority and operational ability to satisfy the obligations of the assigning Party under this Agreement;
6.1.2 The Interconnection Customer shall have the right to assign this Agreement, without the consent of the EDC, for collateral security purposes to aid in providing financing for the Small Generator Facility. For Small Generator systems that are integrated into a building facility, the sale of the building or property will result in an automatic transfer of this agreement to the new owner who shall be responsible for complying with the terms and conditions of this Agreement.
6.1.3 Any attempted assignment that violates this Article is void and ineffective. Assignment shall not relieve a Party of its obligations, nor shall a Party’s obligations be enlarged, in whole or in part, by reason thereof. An assignee is responsible for meeting the same obligations as the Interconnection Customer.
Assignment Liability Indemnity Force Majeure Consequential Damages and Default. 7.1 Assignment
7.1.1 Any Party may assign this Agreement without the consent of the other Parties to any affiliate of the assigning Party with an equal or greater credit rating and with the legal authority and operational ability to satisfy the obligations of the assigning Party under this Agreement, provided that the Interconnection Customer promptly notifies the Participating TO and the ISO of any such assignment;
7.1.2 The Interconnection Customer shall have the right to assign this Agreement, without the consent of the Participating TO or the ISO, for collateral security purposes to aid in providing financing for the Small Generating Facility, provided that the Interconnection Customer will promptly notify the Participating TO and the ISO of any such assignment.
7.1.3 Any attempted assignment that violates this article is void and ineffective. Assignment shall not relieve a Party of its obligations, nor shall a Party's obligations be enlarged, in whole or in part, by reason thereof. An assignee is responsible for meeting the same financial, credit, and insurance obligations as the Interconnection Customer. Where required, consent to assignment will not be unreasonably withheld, conditioned or delayed.
Assignment Liability Indemnity Force Majeure Consequential Damages and Default. 7.1 A ssignment
7.1.1 Either Party may assign this Agreement with the written consent of the other Party to any affiliate of the assigning Party or other third party with an equal or greater credit rating and with the legal authority and operational ability to satisfy the obligations of the assigning Party under this Agreement;
7.1.2 The Interconnection Customer shall have the right to assign this Agreement, with the written consent of the Transmission Provider, for collateral security purposes to aid in providing financing for the Small Generating Facility.
7.1.3 Any attempted assignment that violates this article is void and ineffective. Assignment shall not relieve a Party of its obligations, nor shall a Party's obligations be enlarged, in whole or in part, by reason thereof. An assignee of the Interconnection Customer is responsible for meeting the same financial, credit, and insurance obligations as the Interconnection Customer. Consent to assignment will not be unreasonably withheld, conditioned or delayed.
Assignment Liability Indemnity Force Majeure Consequential Damages and Default