Assignments and Encumbrances Sample Clauses
The "Assignments and Encumbrances" clause defines the rules regarding a party’s ability to transfer its rights or obligations under the agreement to another party, or to use those rights as collateral. Typically, this clause restricts either party from assigning the contract or placing any encumbrances, such as liens or security interests, on their contractual rights without the other party’s prior written consent. For example, a company may be prohibited from selling its interest in the contract to a third party or using the contract as security for a loan unless the other party agrees. The core function of this clause is to maintain control over who is involved in the contract and to prevent unwanted third parties from gaining rights or interests, thereby protecting the original parties’ interests and ensuring the integrity of the agreement.
Assignments and Encumbrances. 14.1 Licensee shall not, in any manner, directly or indirectly, by operation of law or otherwise, assign, transfer or encumber this License, or any portion thereof or any interest therein, nor shall Licensee license or otherwise authorize the use of, in whole or in part, the rights granted by this License, without the prior written consent of the Board. Any attempts to assign, transfer or encumber this License, or any licensing or authorizing the use of, in whole or in part, the rights granted by this License, shall be void and shall confer no right, title or interest in or to this License, upon any such assignee, transferee, or encumbrancer. Consent to one assignment, transfer, or encumbrance shall not be deemed to be a consent to any subsequent assignment, transfer or encumbrance. This License shall not, nor shall any interest therein, be assignable as to the interest of Licensee by operation of law without the prior written consent of Board.
14.2 When proper consent has been given by the Board, the provisions of this License shall be binding upon, and shall inure to the benefit of, the heir(s), successor(s), executor(s), administrator(s) and assign(s) of the parties hereto.
14.3 The sale or other transfer of a controlling percentage of the capital stock or membership interests of Licensee, whether by merger, stock sale, or otherwise, or the sale or transfer of more than fifty percent (50%) of the value of the assets of Licensee relating to the TNC application shall not be subject to the restrictions in Sections 6.1 and 6.2. The phrase “controlling percentage” means the ownership of, and the right to vote, stock or interests possessing more than fifty percent (50%) of the total combined voting power of all classes of Licensee’s capital stock or interests issued, outstanding and entitled to vote for the election of directors.
Assignments and Encumbrances. The Member may sell, assign, transfer, exchange, mortgage, pledge, grant, hypothecate or otherwise transfer, in whole or in part, its Membership Interest.
Assignments and Encumbrances. 16.1. Assignments 16 16.2. Encumbrances 16
Assignments and Encumbrances. The Lessee may not assign, sublease, or encumber this Lease in whole or in part, or grant any right, interest, privilege, or license whatsoever in connection with this Lease, without the Lessor’s prior written approval.
Assignments and Encumbrances. 16 Section 17. DEFAULTS AND ▇▇▇▇▇▇’S REMEDIES 17 Section 18. SURRENDER AND HOLDING OVER 18 Section 19. NONDISCRIMINATION AND EMPLOYMENT LAWS 18 Section 20. NOTICES 19 Section 21. GENERAL PROVISIONS 19 EXHIBIT A: Inventory and Condition Report 22 EXHIBIT B: Insurance Requirements 23 EXHIBIT C: Maintenance Plan 25 EXHIBIT D: Preservation Maintenance Plan 26
Assignments and Encumbrances. 37 10. WITHDRAWAL 41
Assignments and Encumbrances. 8.01. Lessee shall not assign the rights granted herein, in whole or part, to any third party for any purpose without the prior written consent of Lessor, which shall not be unreasonably withheld. Upon the authorized assignment of this Lease and the assumption of the obligations under this Lease by the assignee of this Lease, the assignor of this Lease shall thereupon be released and discharged from all covenants and obligations accruing from and after the date of the assignment. Any unauthorized assignment shall be void and of no effect and such unauthorized assignment shall not relieve Lessee of any liability for any obligation, covenant, or condition of this Lease. THIS PROVISION AND THE PROHIBITION AGAINST ASSIGNMENT CONTAINED HEREIN SHALL SURVIVE EXPIRATION OR EARLIER TERMINATION OF THIS LEASE. For purposes of this Lease, an assignment is any transfer, including by operation of law, to another of all or part of rights herein granted.
8.02. Lessee shall not mortgage, hypothecate, encumber, or grant any deed of trust or security interest that encumbers the Premises or the interests created by this Lease. Further, Lessee may not collaterally assign any rent or other income generated from ▇▇▇▇▇▇’s use of the Premises, except that this Section 8.02 shall impose no limits whatsoever on Lessee’s rights to collaterally assign any rent or other income generated from Lessee’s mining operations.
8.03. Lessee shall not permit any mechanic’s or materialman’s lien or liens to be placed on the Premises during the term of this Lease caused by or resulting from any work performed, materials furnished, or obligation incurred by or at the request of ▇▇▇▇▇▇. In the case of the filing of any such lien, ▇▇▇▇▇▇ will promptly pay, bond off, or obtain the release of same to the satisfaction of ▇▇▇▇▇▇. If ▇▇▇▇▇▇’s failure to comply with the provisions of this section shall continue for a period of twenty (20) days, Lessor shall have the right, at Lessor’s option, of paying the same or any portion thereof without inquiry as to the validity thereof, and any amounts so paid, including expenses and interest, shall be repaid by Lessee to Lessor immediately upon demand.
Assignments and Encumbrances. 24 Section 17. DEFAULTS AND LESSOR’S REMEDIES 24 Section 18. SURRENDER AND HOLDING OVER 25 Section 19. EQUAL OPPORTUNITY LAWS 26 Section 20. NOTICES 26 Section 21. GENERAL PROVISIONS 26 EXHIBIT A: Inventory and Condition Report 29 EXHIBIT B: Insurance Requirements 32 EXHIBIT C: Maintenance Plan 35 EXHIBIT D: Preservation Maintenance Plan 36 EXHIBIT E: Development Concept Plan 37 EXHIBIT F: Map of Assigned Land and Real Property 38 EXHIBIT G: Transition Between Leases 39 THIS LEASE (Lease) is entered into by and between the United States of America (Lessor), acting through the National Park Service (NPS), an agency of the United States Department of the Interior, and
Assignments and Encumbrances.
16.1. Assignments The Lessee may not effectuate an Assignment or Sublease of this Lease, in whole or in part, or grant any right, interest, privilege, or license whatsoever in connection with this Lease, without the Lessor’s prior written approval. The Lessor may, but is not obligated to, approve or disapprove a requested Assignment or Sublease. In no event, however, will the Lessor approve an Assignment or Sublease unless the Lessor has determined that the proposed assignee or Sublessee is financially and managerially capable of carrying out the terms of this Lease. The Lessor may assign this Lease or any or all of its rights or obligations under this Lease at any time.
16.2. Encumbrances The Lessee may not effectuate an Encumbrance on the Premises without the Lessor’s prior written approval. The Lessor may, but is not obligated to, approve or disapprove any requested Encumbrance. In no event, however, will the Lessor approve an Encumbrance unless the Lessor has determined that the Encumbrance only grants its holder, in the event of a foreclosure, the right to assume the Lessee’s responsibilities under this Lease or to select a qualified new lessee, subject to the Lessor’s written approval, and that it does not purport to grant its holder any rights to alter or amend the Lease’s terms or conditions.
Assignments and Encumbrances. Assignments 16 16.2. Encumbrances 16 16.3. Transfer Premium RESERVED 16