Common use of Assignment and change-of-control clause Clause in Contracts

Assignment and change-of-control clause. The Supplier shall not transfer any obligations or rights arising out of the Contract to any other party without the prior written approval of DALO. If the ownership of the Supplier changes, in whole or in part, during the term of the Co n- tract, the Supplier shall inform DALO thereof in writing. If the Supplier or the owner(s) of the Supplier is a company with limited liability/has s e- curities admitted to trading on a regulated market, this provision shall only apply if the change of ownership gives rise to a notification requirement under the Danish Companies Consolidated Act no. 763 of 23 July 2019 with amendments (in Danish: “Selskabsloven” med ændringer)/the Danish Consolidated Act no. 377 of 2 April 2020 regarding Capital Markets with amendments (in Danish: bekendtgørelse af lov om kapitalmarkeder “kapitalmarkedsloven” med ændringer) or would give rise to such a notification require- ment if the Danish Companies Act/the Danish Act regarding Capital Markets did apply. If the change of ownership of the Supplier in DALO’s opinion might threaten the proper performance of the Contract in regard to safety and security approval, DALO shall be e n- titled to issue a written notice to the Supplier with a time limit of 30 (thirty) Days to rem- edy the issue. If DALO has not received documentation within the time limit that appro- priate remedial action has been taken, DALO shall have the right to terminate the Co n- tract in its entirety with a written notice of 10 (ten) Days.

Assignment and change-of-control clause. The Supplier shall not transfer any obligations or rights arising out of the Contract to any other party without the prior written approval of DALO. If the ownership of the Supplier changes, in whole or in part, during the term of the Co n- tract, the Supplier shall inform DALO thereof in writing. If the Supplier or the owner(s) of the Supplier is a company with limited liability/has s e- se- curities admitted to trading on a regulated market, this provision shall only apply if the change of ownership gives rise to a notification requirement under the Danish Companies Consolidated Act no. 763 of 23 July 2019 with amendments (in Danish: “Selskabsloven” med ændringer)/the Danish Consolidated Act no. 377 of 2 April 2020 regarding Capital Markets with amendments (in Danish: bekendtgørelse af lov om kapitalmarkeder “kapitalmarkedsloven” med ændringer) or would give rise to such a notification require- ment if the Danish Companies Act/the Danish Act regarding Capital Markets did apply. If the change of ownership of the Supplier in DALO’s opinion might threaten the proper performance of the Contract in regard to safety and security approval, DALO shall be e n- en- titled to issue a written notice to the Supplier with a time limit of 30 (thirty) Days to rem- edy the issue. If DALO has not received documentation within the time limit that appro- appr o- priate remedial action has been taken, DALO shall have the right to terminate the Co n- Con- tract in its entirety with a written notice of 10 (ten) Days.

Assignment and change-of-control clause. The Supplier Lessor shall not transfer any obligations or rights arising out of the Contract to any other party without the prior written approval of DALO. If the ownership of the Supplier Lessor changes, in whole or in part, during the term of the Co n- tractContract, the Supplier Lessor shall inform DALO thereof in writing. If the Supplier Lessor or the owner(s) of the Supplier Lessor is a company with limited liability/has s e- curities securities admitted to trading on a regulated market, this provision shall only apply if the change of ownership gives rise to a notification requirement under the Danish Companies Consolidated Act no. 763 of 23 July 2019 with amendments (in Danish: “Selskabsloven” med ændringer)/the Danish Consolidated Act no. 377 of 2 April 2020 regarding Capital Markets with amendments (in Danish: bekendtgørelse af lov om kapitalmarkeder “kapitalmarkedsloven” med ændringer) or would give rise to such a notification require- ment requirement if the Danish Companies Act/the Danish Act regarding Capital Markets did apply. If the change of ownership of the Supplier Lessor in DALO’s opinion might threaten the proper performance of the Contract in regard to safety and security approval, DALO shall be e n- titled entitled to issue a written notice to the Supplier Lessor with a time limit of 30 (thirty) Days to rem- edy remedy the issue. If DALO has not received documentation within the time limit that appro- priate appropriate remedial action has been taken, DALO shall have the right to terminate the Co n- tract Contract in its entirety with a written notice of 10 (ten) Days. DALO shall also be entitled to terminate the Contract, if the new owner or controlling party is a person or a company incompatible with the status as supplier of war material, cf. also the Danish War Material Act, Consolidated Act no. 1004 of 22 October 2012 (in Danish: Lov om krigsmateriel mv.)

Assignment and change-of-control clause. The Supplier shall not transfer any obligations or rights arising out of the Contract to any other party without the prior written approval of DALO. If the ownership of the Supplier changes, in whole or in part, during the term of the Co n- tract, the Supplier shall inform DALO thereof in writing. If the Supplier or the owner(s) of the Supplier is a company with limited liability/has s e- curities admitted to trading on a regulated market, this provision shall only apply if the change of ownership gives rise to a notification requirement under the Danish Companies Consolidated Act no. 763 of 23 July 2019 with amendments (in Danish: “Selskabsloven” med ændringer)/the Danish Consolidated Act no. 377 of 2 April 2020 regarding Capital Markets with amendments (in Danish: bekendtgørelse af lov om kapitalmarkeder “kapitalmarkedsloven” med ændringer) or would give rise to such a notification require- ment if the Danish Companies Act/the Danish Act regarding Capital Markets did apply. If the change of ownership of the Supplier in DALO’s opinion might threaten the proper performance of the Contract in regard to safety and security approval, DALO shall be e n- titled to issue a written notice to the Supplier with a time limit of 30 (thirty) Days to rem- edy the issue. If DALO has not received documentation within the time limit that appro- appr o- priate remedial action has been taken, DALO shall have the right to terminate the Co n- tract in its entirety with a written notice of 10 (ten) Days.

Assignment and change-of-control clause. The Supplier shall not transfer any obligations or rights arising out of the Contract to any other party without the prior written approval of DALO. If the ownership of the Supplier changes, in whole or in part, during the term of the Co n- tract, the Supplier shall inform DALO thereof in writing. If the Supplier or the owner(s) of the Supplier is a company with limited liability/has s e- curities admitted to trading on a regulated market, this provision shall only apply if the change of ownership gives rise to a notification requirement under the Danish Companies Co mpanies Consolidated Act no. 763 of 23 July 2019 with amendments (in Danish: “Selskabsloven” med ændringer)/the Danish Consolidated Act no. 377 of 2 April 2020 regarding Capital Markets with amendments (in Danish: bekendtgørelse af lov om kapitalmarkeder “kapitalmarkedsloven” med ændringer) or would give rise to such a notification require- ment if the Danish Companies Act/the Danish Act regarding Capital Markets did apply. If the change of ownership of the Supplier in DALO’s opinion might threaten the proper prop er performance of the Contract in regard to safety and security approval, DALO shall be e n- titled to issue a written notice to the Supplier with a time limit of 30 (thirty) Days to rem- edy the issue. If DALO has not received documentation within the time limit lim it that appro- priate remedial action has been taken, DALO shall have the right to terminate the Co n- tract in its entirety with a written notice of 10 (ten) Days. DALO shall also be entitled to terminate the Contract, if the new owner or controlling party is a person or a company incompatible with the status as supplier of war material, cf. also the Danish War Material Act, Consolidated Act no. 1004 of 22 October 2012 (in Danish: Lov om krigsmateriel mv.).