Common use of Assignment by Aurizon Network Clause in Contracts

Assignment by Aurizon Network. (a) If an entity will acquire all of Aurizon Network’s interest in the parts of the Railway Network which include the Segments, Aurizon Network must transfer all of its rights and liabilities under this Agreement to that entity at the time that the entity acquires Aurizon Network’s interest in the relevant parts of the Railway Network. (b) If an entity will acquire an undivided interest in the parts of the Railway Network which include the Segments, Aurizon Network must transfer to that entity a proportion of its rights and liabilities under this Agreement equivalent to that entity’s undivided interest in the relevant parts of the Railway Network at the time that the entity acquires the interest in the relevant parts of the Railway Network. (c) The Parties must, promptly upon demand by Aurizon Network, execute a deed of assignment and assumption or a deed of novation in a form acceptable to Aurizon Network (acting reasonably) to give effect to the transfer of any rights or liabilities of Aurizon Network required under this clause 12.5.

Assignment by Aurizon Network. (a) If an entity will acquire all of Aurizon Network’s interest in the parts of the Railway Network which include the Segments, Aurizon Network must transfer all of its rights and liabilities under this Agreement the Transaction Documents to that entity at the time that the entity acquires Aurizon Network’s interest in the relevant parts of the Railway Network. (b) If an entity will acquire an undivided interest in the parts of the Railway Network which include the Segments, Aurizon Network must transfer to that entity a proportion of its rights and liabilities under this Agreement the Transaction Documents equivalent to that entity’s undivided interest in the relevant parts of the Railway Network at the time that the entity acquires the interest in the relevant parts of the Railway Network. (c) The Parties must, promptly upon demand by Aurizon Network, execute a deed of assignment and assumption or a deed of novation in a form acceptable to Aurizon Network (acting reasonably) to give effect to the transfer of any rights or liabilities of Aurizon Network required under this clause 12.510.4.