Substitution of sponsor Sample Clauses

The "Substitution of sponsor" clause allows for the replacement of the original sponsor in an agreement with a new party. Typically, this clause outlines the conditions and procedures under which a new sponsor can be appointed, such as requiring prior written consent from certain stakeholders or ensuring the new sponsor meets specific qualifications. Its core practical function is to provide flexibility in project or contract management by enabling continuity if the original sponsor is unable or unwilling to fulfill their obligations, thereby minimizing disruptions and ensuring the ongoing viability of the arrangement.
Substitution of sponsor. Check this selection if a successor to the original plan sponsor is continuing this Plan as a successor sponsor, and substitute page 1 to identify the successor as the Employer. (1) Effective Date of the amendment is: ____________________________________________ [ ] 79. Check this #79 if any special Effective Dates apply under Appendix A of this Agreement and complete the relevant sections of Appendix A.
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Substitution of sponsor. Check this selection if a successor to the original plan sponsor is continuing this Plan as a successor sponsor, and substitute page 1 to identify the successor as the Employer.
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Substitution of sponsor. 10.1 Subject to the consent of the Sponsor at the time (unless it has been dissolved) any company, firm or person may become the Plan's sponsor (the new Sponsor) provided that they execute a deed of substitution in favour of the Trustee (whose agreement shall not be required) under which they assume the responsibilities of the Sponsor under the Plan and agree to observe and perform the provisions of the Plan applicable to them as the Sponsor. 10.2 From a date that the Sponsor and the new Sponsor agree, the Sponsor shall be released from all obligations in relation to the Plan and all other provisions of the Plan shall take effect as if the new Sponsor had originally been and is the Sponsor.
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Related to Substitution of sponsor

  • Substitution of Key Personnel Consultant has represented to City that certain key personnel will perform and coordinate the Services under this Agreement. Should one or more of such personnel become unavailable, Consultant may substitute other personnel of at least equal competence upon written approval of City. In the event that City and Consultant cannot agree as to the substitution of key personnel, City shall be entitled to terminate this Agreement for cause. As discussed below, any personnel who fail or refuse to perform the Services in a manner acceptable to the City, or who are determined by the City to be uncooperative, incompetent, a threat to the adequate or timely completion of the Project or a threat to the safety of persons or property, shall be promptly removed from the Project by the Consultant at the request of the City. The key personnel for performance of this Agreement are as follows: ▇▇▇▇▇ ▇▇▇▇▇.

  • Substitution of Trustee Beneficiary may from time to time substitute a successor or successors to any Trustee named herein or acting hereunder to execute this Trust. Upon such appointment, and without conveyance to the successor trustee, the latter will be vested with all title, powers, and duties conferred upon any Trustee herein named or acting hereunder. Each such appointment and substitution is to be made by written instrument executed by Beneficiary, containing reference to this Deed of Trust and its place of record, which, when duly recorded in the proper office of the county or counties in which the Property is situated, will be conclusive proof of proper appointment of the successor trustee.

  • Substitution of Bank If (i) the obligation of any Bank to make Euro-Dollar Loans has been suspended pursuant to Section 8.02 or (ii) any Bank has demanded compensation under Section 8.03 or 8.04, the Company shall have the right, with the assistance of the Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Note and assume the Commitment of such Bank, which agrees in such event to sell its Note and transfer its Commitment.

  • SUBSTITUTION OF SECURITIES Upon request and at the sole cost and expense of Contractor, District shall permit substitution of securities in lieu of retention, in accordance with Public Contract Code Section 22300.

  • Substitution of Banks 13 3.8. Survival.............................................................14