Assignment by LTES Operator Sample Clauses
Assignment by LTES Operator. (a) LTES Operator 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 16.1.
(b) Subject to paragraph (c), LTES Operator may assign, novate or otherwise transfer its rights and obligations under, title to or interest in this agreement with SFV’s prior written consent, such consent not to be unreasonably withheld or delayed if:
(i) the assignee, novatee or transferee:
(A) has the legal, financial and technical capability to perform LTES Operator’s obligations under this agreement; and
(B) agrees to assume all obligations of LTES Operator under or in connection with this agreement, including to provide any replacement Initial Security; and
(ii) in the case of a proposed assignment, novation or transfer that would occur prior to the Commercial Operations Date, SFV considers (in its absolute discretion) that the assignee, novatee or transferee would have achieved an equivalent or higher merit score from Consumer Trustee during the tender assessment conducted in connection with this agreement.
(c) LTES Operator must not assign, novate or otherwise transfer its rights or obligations under, title to or interest in this agreement or the Project unless it also assigns, novates or otherwise transfers:
(i) its rights and obligations under, title to or interest in and its obligations under this agreement and the LTESA; and
(ii) the Project, to the same person.
(d) Notwithstanding anything else in this clause 16.1, the parties agree that LTES Operator 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 LTES Operator (or to any of its Related Bodies Corporate) in connection with the Project.
(e) The parties acknowledge and agree that the provisions of this clause
16.1 will apply to any assignment, novation or transfer of LTES Operator’s rights and obligations under, title to and interest in this agreement following the enforcement of a Security Interest granted by LTES Operator in accordance with paragraph (d).
Assignment by LTES Operator. (a) LTES Operator 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 16.1.
(b) Subject to paragraph (c), LTES Operator may assign, novate or otherwise transfer its rights and obligations under, title to or interest in this agreement with SFV’s prior written consent, such consent not to be unreasonably withheld or delayed if:
(i) the assignee, novatee or transferee:
(A) has the legal, financial and technical capability to perform LTES Operator’s obligations under this agreement; and
(B) agrees to assume all obligations of LTES Operator under or in connection with this agreement, including to provide any replacement Initial Security; and
(ii) in the case of a proposed assignment, novation or transfer that would occur prior to the Commercial Operations Date, SFV considers (in its absolute discretion) that the assignee, novatee or transferee would have achieved an equivalent or higher merit score from Consumer Trustee during the tender assessment conducted in connection with this agreement.