Common use of Assignment and Charges Clause in Contracts

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. (a.) The Concessionaire shall not assign in favor favour 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 favour 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. (a.) The 20.1.1 Other than by operation by law, the Concessionaire shall not assign in favor favour of any person this Agreement or the rights, benefits and obligations hereunder save and except with prior consent of the Authority and Authority. If this Agreement is assigned, the Departmentassignee shall assume the liability of the Concessionaire. (b.) 20.1.2 Restraint set forth in Articles (a) Article 20.1.1 shall not apply to: (i) liens/ 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/ pledge/hypothecation of moveable assets/goods purchased by Concessionaire, revenue and receivables received by Concessionaire (excluding Insurance proceeds) s in favor favour of the Lenders for the Project. Provided, no charge/ mortgage/ lien/ 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 equipment’s provided by the PLBs Authority 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 PLBsAuthority, upon expiry or earlier termination of this Agreement, their respective Project Assets free of all encumbrances whatsoever. (c.) 20.1.3 The Concessionaire shall not create nor permit to subsist any further Encumbrance over the Site(s).

Assignment and Charges. (a.a) The Concessionaire shall not assign in favor favour of any person this Agreement or the rights, benefits and obligations hereunder save and except with prior consent of the Authority and the DepartmentAMC. (b.b) Restraint set forth in Articles (a) shall not apply to: (i) liens/ 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/ pledge/hypothecation of moveable assets/goods purchased by Concessionaire, revenue and receivables received by Concessionaire (excluding Insurance proceeds) s in favor favour of the Lenders for the Project. Provided, no charge/ mortgage/ lien/ 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 equipment’s provided by the PLBs AMCs 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 PLBsAMCs, upon expiry or earlier termination of this Agreement, their respective Project Assets free of all encumbrances whatsoever... (c.c) The Concessionaire shall not create nor permit to subsist any further Encumbrance over the Site(s).