Assignment by Province Sample Clauses
The "Assignment by Province" clause defines the conditions under which rights or obligations under an agreement may be transferred or assigned within specific provincial jurisdictions. Typically, this clause outlines whether parties can assign their interests to another party, and may require prior written consent or restrict assignment altogether, depending on the province's laws or regulatory requirements. Its core function is to ensure compliance with local legal frameworks and to prevent unauthorized or unintended transfers of contractual rights or duties, thereby maintaining control and clarity over who is bound by the agreement in each province.
Assignment by Province. The Province may assign and transfer all its rights and obligations under this Agreement only to a “Provincial corporation” (as that term is defined by the Financial Administration Act (Alberta)) that is a Crown agent such that the Province, as principal to that Crown agent, retains full legal responsibility for all obligations stated as obligations of the Province in this Agreement.
Assignment by Province. The Province shall, with notice to the Agent, assign or transfer its rights and obligations under this Agreement to any permitted assignee of its interest in the Project Agreement concurrently with the assignment of the Project Agreement to such assignee in accordance with Section 16.4 [Assignment by the Province] of the Project Agreement and, in circumstances where the Province is released from all of its obligations and liabilities under the Project Agreement pursuant to Section 16.5 [Release of the Province on Assignment] thereof, the Province shall at the same time be released from all of its obligations and liabilities under this Agreement.
Assignment by Province. The Province will assign or transfer its rights and obligations under this Agreement to any permitted assignee of its interest in the Project Agreement concurrently with the assignment of the Project Agreement to such assignee and the Agent and the Senior Lenders will co-operate with the Province in completing the formalities of any transfer or assignment including by executing any additional documents as may be reasonably required by the Province.
Assignment by Province. The Province shall, with notice to the Agent, assign or transfer its rights and obligations under this Agreement to any permitted assignee of its interest in the Project Agreement concurrently with the assignment of the Project Agreement to such assignee in accordance with Section 16.4 [Assignment by the Province and BCTFA] of the Project Agreement and, in circumstances where the Province is released from all of its obligations and liabilities under the Project Agreement pursuant to Section 16.5 [Release of the Province and BCTFA on Assignment] thereof, the Province shall at the same time be released from all of its obligations and liabilities under this Agreement.