Assignment by Metro Clause Samples

Assignment by Metro. Metro shall have the right to Transfer any or all of Metro’s interest in the Metered Parking System and this Agreement, provided that it shall be jointly and severally liable with the Transferee for the performance and observance of the obligations and covenants of Metro under this Agreement, the Transferee must not be a direct competitor with Parking Company and its Affiliates, the Transferee, its direct or indirect beneficial owners, any a proposed managers or operating partners and each of their respective Affiliates must possess the financial strength and integrity in order to fulfill the monetary obligations and duties of Metro and any agreement entered into by Metro under this Agreement (including agreeing directly with any Secured Lender to be bound by the agreement entered into in accordance with Section 18.3) and that any such Transfer by Metro shall not materially limit or reduce any of Parking Company’s other rights, benefits, remedies or privileges under this Agreement nor shall it materially impair Metro’s ability to meet its obligations under this Agreement and, provided further, any such Transfer shall be subject to the rights and Encumbrances of Parking Company and of the Secured Lender under any Secured Lender.