Common use of Assignment of Use Clause in Contracts

Assignment of Use. The Concession Holder shall have the right to assign, for consideration or otherwise, the use of part of the real property made available for the Concession Holder’s use under the present Contract. In this regard, the Concession Holder shall have the right to enter into rental, commodatum [gratuitous bailment] or other similar contracts concerning the real property received. All assignments made by the Concession Holder must be reported in advance by the latter to ORSNA, which shall have the power to contest the same when the consideration for the assignment is lacking or unrealistically low, and the assignment is not warranted from the standpoint of the management, operation or functioning of the airports.

Appears in 2 contracts

Sources: Concession Agreement (Corporacion America Airports S.A.), Concession Agreement (Corporacion America Airports S.A.)