Assignment and Charges a) The Developer shall not assign in favour of any person this Agreement or the rights, benefits and obligations hereunder save and except with prior consent of the Authority.
b) The Developer shall also not create nor permit to subsist any Encumbrance over the Project except with prior consent in writing of the Authority, which consent the Authority shall be entitled to decline without assigning any reason whatsoever.
c) Restraint set forth in Clause 14.1 (a) and (b) shall not apply to:
(i) Liens/encumbrances arising by operation of law (or by an agreement evidencing the same) in the ordinary course of business of the Developer;
(ii) Pledges/hypothecation of goods/moveable assets, revenue and receivables as security for indebtedness, in favour of the Lenders and working capital providers for the Project;
(iii) Assignment of Developers rights and benefits under this Agreement to or in favour of the Lenders as security for financial assistance provided by them.
Assignment and Charges. Restrictions on assignment and charges
Assignment and Charges. 36.1 Restrictions on assignment and charges
36.1.1 Subject to Clauses 36.2 and 36.3, this Agreement shall not be assigned by the Concessionaire to any person, save and except with the prior consent in writing of the Authority, which consent the Authority shall be entitled to decline without assigning any reason.
36.1.2 Subject to the provisions of Clause 36.2, the Concessionaire shall not create nor permit to subsist any Encumbrance, or otherwise transfer or dispose of all or any of its rights and benefits under this Agreement or any Project Agreement to which the Concessionaire is a party except with prior consent in writing of the Authority, which consent the Authority shall be entitled to decline without assigning any reason.
Assignment and Charges. (a.) The Concessionaire shall not assign in favor of any person this Agreement or the rights, benefits and obligations hereunder save and except with prior consent of the Authority and the Department.
(b.) Restraint set forth in Articles (a) shall not apply to:
(i) liens/ encumbrances arising by operation of law (or by an agreement evidencing the same) in the ordinary course of business of the Concessionaire;
(ii) mortgage/ pledge/ hypothecation of moveable assets/goods purchased by Concessionaire, revenue and receivables received by Concessionaire (excluding Insurance proceeds) in favor of the Lenders for the Project. Provided, no charge/ mortgage/ lien/ hypothecation or encumbrance of any kind whatsoever can be created or construed as allowed to be created over the Project Assets including the Site, assets and equipment provided by the PLBs for the Project. Provided further that irrespective of security hereinabove permitted, Concessionaire is irrevocably obligated to procure release of such security and hand over to the PLBs, upon expiry or earlier termination of this Agreement, their respective Project Assets free of all encumbrances whatsoever.
(c.) The Concessionaire shall not create nor permit to subsist any further Encumbrance over the Site(s).
Assignment and Charges i. The Lessee shall not assign in favour of any person this Agreement or the rights, benefits and obligations hereunder, save and except with prior consent of the Authority.
ii. The Lessee shall not create nor permit to subsist any encumbrance over the Leased Land, except as envisaged under this Agreement.
Assignment and Charges a. The Concessionaire shall not assign in favour of any person the Agreement or the rights, benefits and obligations hereunder, save and except with prior consent of Concessioning Authority.
b. The Concessionaire shall not create nor permit to subsist any Encumbrance over the Project Site, except as envisaged under this Agreement.
c. Restraint set forth in Sub-articles 11.1(a) and 11.1(b) above, shall not apply to:
i. Assignment of Concessionaire’s rights and benefits under the Agreement and other Project related Financial Documents to or in favour of the Senior Lenders as security for Financial Assistance provided by them. Notwithstanding anything contained in Article 11.1 (c) the rights of the Concessionaire shall not be contrary or in derogation to the provisions relating to Transfer of Assets contained under Article 6.6.
Assignment and Charges. This Agreement shall be binding on and enure for the benefit of each Party’s successors in title. No Party shall assign, or declare any trust in favour of a third party over, all or any part of the benefit of, or its rights or benefits under, this Agreement.
Assignment and Charges. (a) The Concessionaire shall not assign in favour of any person this Agreement or the rights, benefits and obligations hereunder, save and except with prior consent of MCD.
(b) The Concessionaire shall not create nor permit to subsist any Encumbrance over the Project Facilities, except with prior consent in writing of MCD, which consent MCD shall be entitled to decline without assigning any reason whatsoever.
(c) Restraint set forth in sub-articles (a) and (b) above shall not apply to:
(i) liens/encumbrances arising by operation of law (or by an agreement evidencing the same) in the ordinary course of business of the Concessionaire:
(ii) Pledges/hypothecation of goods/ moveable assets, revenue and receivables as security for indebtedness, in favour of the Lenders and working capital providers for the Project;
(iii) assignment of Concessionaire’s rights and benefits under this Agreement to or in favour of the Lenders as security for financial assistance provided by them.
Assignment and Charges. The Developer shall not assign in favour of any person this Agreement or the rights, benefits and obligations hereunder save and except with prior consent of the Authority.
Assignment and Charges. 27.1 Restrictions on assignment and charges
27.1.1 Subject to Articles 27.2 and 27.3, this Agreement shall not be assigned by the Concessionaire to any person, save and except with the prior consent in writing of the Authority, which consent the Authority shall be entitled to decline without assigning any reason.
27.1.2 Subject to the provisions of Article 27.2, the Concessionaire shall not create nor permit to subsist any Encumbrance, or otherwise transfer or dispose of all or any of its rights and benefits under this Agreement or any Project Agreement to which the Concessionaire is a party.
