Assignment by Access Right Holder Sample Clauses
Assignment by Access Right Holder.
(a) Access Right Holder must not assign, novate or otherwise transfer its rights or obligations under, title to or interest in this agreement or the Project other than in accordance with this clause 21.1.
(b) Access Right Holder may assign, novate or otherwise transfer its rights and obligations under, title to or interest in this agreement (Transfer) with EnergyCo’s prior written consent, such consent not to be unreasonably withheld or delayed if:
(i) Access Right Holder provides notice to EnergyCo that sets out:
(A) details of the person to whom Access Right Holder proposes to transfer its Access Right or assign, novate or otherwise transfer its rights and obligations under, title to, or interest in this agreement (Transferee); and
(B) the nominated date for the Transfer; and
(ii) the Transferee:
(A) will also be transferred Access Right Holder’s rights and obligations under the Access Payment Deed, the ESCA and to the extent applicable, the LTESA and any LTESA related project development agreement;
(B) will also be transferred Access Right Holder’s interests in the Project; and
(C) has the legal, financial and technical capability to perform Access Right Holder’s obligations under this agreement.
(c) Notwithstanding anything else in this clause 21.1, the parties agree that Access Right Holder may grant a Security Interest in respect of its rights and obligations under this agreement or the Project in favour of a secured lender (or a trustee acting on its behalf) who is providing financial accommodation on secured terms to Access Right Holder (or to any of its Related Bodies Corporate) in connection with the Project.
(d) The parties acknowledge and agree that the provisions of this clause
21.1 will apply to any assignment, novation or transfer of Access Right Holder’s rights and obligations under, title to and interest in this agreement following the enforcement of a Security Interest granted by Access Right Holder in accordance with paragraph (c).