Common use of ABSENCE OF CONSENT Clause in Contracts

ABSENCE OF CONSENT. (a) Where any consent or agreement of any Third Party is required to the transfer of any of the TDSI Assets (other than in relation to the transfer of any Commitment (which is dealt with in Section 7.3)), and such consent or agreement has not been obtained at or before the Release Time, the transfer of the relevant asset shall not take effect, until that consent or agreement has been obtained. (b) After the Release Time, and until such time as any consent or agreement referred to in Section 7.2 (a) is obtained, TDSI Transferor shall be deemed to hold the benefit of such asset for the Transferee.

ABSENCE OF CONSENT. (a) Where any consent or agreement of any Third Party is required to the transfer of any of the TDSI TD Assets (other than in relation to the transfer of any Commitment (which is dealt with in Section 7.3)), and such consent or agreement has not been obtained at or before the Release Time, the transfer of the relevant asset shall not take effect, effect until that consent or agreement has been obtained. (b) After the Release Time, and until such time as any consent or agreement referred to in Section 7.2 (a) is obtained, TDSI TD Transferor shall be deemed to hold the benefit of such asset for the Transferee.