Common use of Assignment and Charges Clause in Contracts

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. (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 MCDEDMC. (b) The Concessionaire shall not create nor permit to subsist any Encumbrance over the Project Site / Project Facilities, except with prior consent in writing of MCDEDMC, which consent MCD EDMC shall be entitled to decline without assigning any reason whatsoever. (c) Restraint set forth in sub-articles 15.1 (a) and (b) above shall not apply to: (i) 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 and other Project Agreements to or in favour of the Lenders as security for financial assistance provided by them.

Assignment and Charges. (a) The Concessionaire shall not assign in favour of any person this Agreement or the rights, benefits and obligations hereunder, 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, 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 clauses (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.