Assignment by Trustee. (a) If the Trustee is replaced by a new trustee of the Trust, the Trustee must, with effect upon the appointment of the new trustee of the Trust, assign its rights and liabilities under this Agreement to the new trustee of the Trust. (b) The Trustee must not otherwise assign its rights and liabilities under this Agreement.
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Samples: User Funding – Umbrella Agreement, User Funding – Rail Corridor Agreement, User Funding – Extension Infrastructure Sub Lease
Assignment by Trustee. (a) If the Trustee is replaced by a new trustee of the Trust, the Trustee must, with effect upon the appointment of the new trustee of the Trust, assign transfer its rights and liabilities under this Agreement the Transaction Documents to the new trustee of the Trust.
(b) The Trustee must not otherwise assign its rights and liabilities under this Agreement.
Appears in 4 contracts
Samples: User Funding Agreement, User Funding – Extension Project Agreement, Extension Project Agreement
Assignment by Trustee. (a) If the Trustee is replaced by a new trustee of the Trust, :
(i) the Trustee must, with effect upon the appointment of must procure that the new trustee of the Trust, assign its rights and liabilities under this Agreement to executes a document by which the new trustee agrees to assume the rights, and be bound by the obligations, of the Trust.Trustee under this Deed; and
(bii) The Trustee all other Parties must not otherwise assign its rights and liabilities execute the document as contemplated under this Agreementclause 11.6(a)(i).
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Assignment by Trustee. (a) If the Trustee is replaced by a new trustee of the Trust, the Trustee must, with effect upon the appointment of the new trustee of the Trust, assign transfer its rights and liabilities under this Agreement the Transaction Documents to the new trustee of the Trust.
(b) The Save as permitted by clause 10.6, the Trustee must not otherwise assign its rights and liabilities under this Agreementthe Transaction Documents.
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