Common use of Assignment by Contractor Clause in Contracts

Assignment by Contractor. Contractor agrees not to sublet or assign this agreement or interest or any part thereof to an Indian Joint Venture Co./ Indian Co. having approved technical back up without first obtaining the written consent of Operator, which shall not be unreasonably withheld and at such time that : X. Xxxxxxxx arrangements being made by Contractor in terms of expertise and experienced personnel to ensure due performance of said Agreement. II. The Government of India has fully approved the joint venture applications for formation of such joint venture Indian Company or has approved Technical Collaboration of an Indian Co. and III. The ownership of the Drilling Unit has been transferred to such Indian Company or such Indian Co. has acquired the Drilling Unit on lease basis. However, the assignment shall be on same rates, terms and conditions. Contractor shall remain fully liable and responsible to Operator for complete performance of all its obligation envisaged under this Agreement.

Assignment by Contractor. Contractor agrees not to sublet or assign this agreement or interest or any part thereof to an Indian Joint Venture Co./ Indian Co. having approved technical back up without first obtaining the written consent of Operator, which shall not be unreasonably withheld and at such time that : X. Xxxxxxxx I. Adequate arrangements being made by Contractor in terms of expertise and experienced personnel to ensure due performance of said Agreement. II. The Government of India has fully approved the joint venture applications for formation of such joint venture Indian Company or has approved Technical Collaboration of an Indian Co. and III. The ownership of the Drilling Unit has been transferred to such Indian Company or such Indian Co. has acquired the Drilling Unit on lease basis. However, the assignment shall be on same rates, terms and conditions. Contractor shall remain fully liable and responsible to Operator for complete performance of all its obligation envisaged under this Agreement.