Assignment/Change in Corporate Identity. 14.1 This Agreement and all of the provisions hereof shall be binding upon, and inure to the benefit of, the Parties hereto and their respective successors and permitted assigns, but neither this Agreement nor any of the rights, interests, or obligations hereunder shall be assigned, except to an Affiliate or successor, by either Party hereto, whether by operation of law or otherwise, without the prior written consent of the other Party, which consent may not be unreasonably withheld or delayed. Any assignment of this Agreement in violation of the foregoing shall be, at the option of the non-assigning Party, void. Notwithstanding the foregoing, (i) Producer may assign all of its rights and obligations hereunder to any Affiliate of the Producer which acquires all, or substantially all, of the Producer's interest in the Stations, and upon the Company's receipt of notice from Producer of any such assignment, such assignee will be deemed to have assumed, ratified, agreed to be bound by and perform all such obligations, and all references herein to "Producer" shall thereafter be deemed to be references to such assignee, in each case without the necessity for further act or evidence by the Parties hereto or such assignee, (ii) Producer may assign its rights and obligations hereunder which relate to any particular Station to any Affiliate of Producer which acquires all or substantially all of Producer's interest in such Station, and upon the Company's receipt of notices from Producer of any such assignment, such assignee will be deemed to have assumed, ratified and agreed to be bound by and perform such obligations, and all reference herein to Producer relative to such Station shall thereafter be deemed to be references to such assignee, in each case without the necessity for further acts or evidence by the Parties hereto or such assignee, and (iii) Producer or its permitted assignee may assign, transfer, pledge or otherwise dispose of its rights and interests hereunder to a trustee or lending institution for the purposes of financing or refinancing the Producer's Generating Facilities, including upon or pursuant to the exercise of remedies with respect to such financing or refinancing, or by way of assignments, transfers, pledges, or other dispositions in lieu thereof, provided, however, that no such assignment described in (i), (ii) or (iii) of this Section 14.1 shall relieve or discharge the Assignor from any of its obligations hereunder. The Company agrees to execute and deliver, at the Producer's expense, such documents as may be reasonably necessary to accomplish any such assignment, transfer, pledge, or other disposition of rights hereunder for purposes of the financing or refinancing of the Producer's Generating Facilities, so long as the Company's rights under this Agreement are not thereby altered, amended, diminished or otherwise impaired. 14.2 No assignment, transfer, conveyance, or disposition of rights or obligations under this Agreement by a Party shall relieve that Party from full liability and financial responsibility for the performance thereof after any such transfer, assignment, conveyance, or disposition unless and until the transferee or assignee shall agree in writing to assume the obligations and duties of that Party under this Agreement.
Appears in 1 contract
Samples: Interconnection Agreement (Reliant Energy Mid Atlantic Power Services Inc)
Assignment/Change in Corporate Identity. 14.1 This Agreement and all of the provisions hereof shall be binding upon, and inure to the benefit of, the Parties hereto and their respective successors and permitted assigns, but neither this Agreement nor any of the rights, interests, or obligations hereunder shall be assigned, except to an Affiliate or successor, by either Party hereto, whether by operation of law or otherwise, assigned without the prior written consent of the other Party, ; which consent may shall not be unreasonably withheld or delayed. Any assignment of this Agreement in violation of the foregoing shall be, at the option of the non-assigning Party, void. Notwithstanding the foregoing, (i) Producer may assign all of its rights and obligations hereunder to any Affiliate of the Producer majority-owned subsidiary (direct or indirect) which acquires all, or substantially all, of the Producer's interest in the Stations, Station and upon the Company's receipt of notice from Producer of any such assignment, such assignee will be deemed to have assumed, ratified, agreed to be bound by and perform all such obligations, and all references herein to "Producer" shall thereafter be deemed to be references to such assignee, in each case without the necessity for further act or evidence by the Parties hereto or such assignee, and (ii) Producer may assign its rights and obligations hereunder which relate to any particular Station to any Affiliate of Producer which acquires all or substantially all of Producer's interest in such Station, and upon the Company's receipt of notices from Producer of any such assignment, such assignee will be deemed to have assumed, ratified and agreed to be bound by and perform such obligations, and all reference herein to Producer relative to such Station shall thereafter be deemed to be references to such assignee, in each case without the necessity for further acts or evidence by the Parties hereto or such assignee, and (iii) Producer or its permitted assignee may assign, transfer, pledge or otherwise dispose of its rights and interests hereunder to a trustee or lending institution for the purposes of financing or refinancing the Producer's Generating Facilities, including upon or pursuant to the exercise of remedies with respect to such financing or refinancing, or by way of assignments, transfers, pledges, or other dispositions in lieu thereof, provided, however, that no such assignment described in (i), ) and (ii) or (iii) of this Section 14.1 shall relieve or discharge the Assignor from any of its obligations hereunder. The Company agrees to execute and deliver, at the Producer's expense, such documents as may be reasonably necessary to accomplish any such assignment, transfer, pledge, or other disposition of rights hereunder for purposes of the financing or refinancing of the Producer's Generating Facilities, so long as the Company's rights under this Agreement are not thereby altered, amended, diminished or otherwise impaired.
14.2 No assignment, transfer, conveyance, or disposition of rights or obligations under this Agreement by a Party shall relieve that Party from full liability and financial responsibility for the performance thereof after any such transfer, assignment, conveyance, or disposition unless and until the transferee or assignee shall agree in writing to assume the obligations and duties of that Party under this AgreementAgreement and the non-assigning Party has consented in writing to such assumption and to a release of the assigning Party from such liability.
14.3 If any of the Company, CEI or FEAC terminates its existence as a corporate entity by merger, acquisition, sale, consolidation, or otherwise, or if all or substantially all of such party's assets are transferred to another person or business entity (a "Successor") without complying with this Article
Appears in 1 contract
Samples: Interconnection Agreement (Pennsylvania Electric Co)
Assignment/Change in Corporate Identity. 14.1 27.1 This Agreement and all of the provisions hereof shall be binding upon, upon and inure to the benefit of, of the Parties hereto and their respective successors and permitted assigns, but neither this Agreement nor any of the rights, interests, or obligations hereunder shall be assigned, except to an Affiliate or successor, by either Party hereto, whether by operation of law or otherwise, assigned without the prior written consent of the other Party, which said consent may not to be unreasonably withheld or delayedwithheld. Any assignment of this Agreement in violation of the foregoing shall be, at the option of the non-assigning Party, void. Notwithstanding the foregoing, (i) Producer may assign all of its rights and obligations hereunder to any Affiliate of the Producer which acquires all, or substantially all, of the Producer's interest in the Stations, and upon the Company's receipt of notice from Producer of any such assignment, such assignee will be deemed to have assumed, ratified, agreed to be bound by and perform all such obligations, and all references herein to "Producer" shall thereafter be deemed to be references to such assignee, in each case without the necessity for further act or evidence by the Parties hereto or such assignee, (ii) Producer may assign its rights and obligations hereunder which relate to any particular Station to any Affiliate of Producer which acquires all or substantially all of Producer's interest in such Station, and upon the Company's receipt of notices from Producer of any such assignment, such assignee will be deemed to have assumed, ratified and agreed to be bound by and perform such obligations, and all reference herein to Producer relative to such Station shall thereafter be deemed to be references to such assignee, in each case without the necessity for further acts or evidence by the Parties hereto or such assignee, and (iii) Producer Buyer or its permitted assignee may assign, transfer, pledge or otherwise dispose of its rights right and interests hereunder to a trustee or lending institution (s) for the purposes of financing or refinancing the Producer's Generating FacilitiesPurchased Assets, including upon or pursuant to the exercise of remedies with respect to under such financing or refinancing, or by way of assignments, transfers, pledges, or other conveyances of dispositions in lieu thereof, ; provided, however, that no such assignment described in (i), (ii) or (iii) of this Section 14.1 disposition shall relieve or in any way discharge Buyer or such assignee from the Assignor from any performance of its duties and obligations hereunderunder this Agreement. The Company Seller agrees to execute and deliver, at the Producer's expense, deliver such documents as may be reasonably necessary to accomplish any such assignment, transfer, pledgeconveyance, pledge or other disposition of rights hereunder for purposes of the financing or refinancing of the Producer's Generating FacilitiesPurchased Assets, so long as the CompanySeller's rights under this Agreement are not thereby altered, amended, diminished or otherwise impaired.
14.2 No assignment27.2 Except as set forth in this Article 27, transfer, conveyance, no assignment or disposition transfer of rights or obligations under this Agreement by a Party Buyer shall relieve that Party Buyer from full liability and financial responsibility for the performance thereof after any such transfer, assignment, conveyance, transfer or disposition assignment unless and until the transferee or assignee shall agree in writing to assume the obligations and duties of that Party Buyer under this Agreement and Seller has consented in writing to such assumption; said consent not to be unreasonably withheld.
27.3 Except as set forth in this Article 27, no assignment or transfer of rights or obligations under this Agreement by Seller shall relieve Seller from full liability and financial responsibility for the performance after any such transfer or assignment unless and until the transferee or assignee shall agree in writing to assume the obligations and duties of Seller under this Agreement and Buyer has consented in writing to such assumption; said consent not to be unreasonably withheld.
27.4 If either Party terminates its existence as a corporate entity, and by merger, acquisition, sale, consolidation, or otherwise, or if all or substantially all of such Party's assets are transferred to another person or business entity without complying with this Article 27, the other Party shall have the right, enforceable in a court of competent jurisdiction, to enjoin the Party's successor from using the property in any manner inconsistent with this Agreement.
Appears in 1 contract
Samples: Site Agreement (Somerset Power LLC)
Assignment/Change in Corporate Identity. 14.1 This Agreement and all of the provisions hereof shall be binding upon, and inure to the benefit of, the Parties hereto and their respective successors and permitted assigns, but neither this Agreement nor any of the rights, interests, or obligations hereunder shall be assigned, except to an Affiliate of NYSEG that owns the Transmission System or successorto an Affiliate of the Buyer that owns the Buyer's Purchased Assets, by either Party hereto, whether by operation of law or otherwise, without the prior written consent of the other Party, which consent may shall not be unreasonably withheld or delayedwithheld. Any assignment of this Agreement in violation of the foregoing shall be, at the option of the non-assigning Party, void. Notwithstanding the foregoing, (i) Producer may assign all of its rights and obligations hereunder to any Affiliate of the Producer which acquires all, or substantially all, of the Producer's interest in the Stations, and upon the Company's receipt of notice from Producer of any such assignment, such assignee will be deemed to have assumed, ratified, agreed to be bound by and perform all such obligations, and all references herein to "Producer" shall thereafter be deemed to be references to such assignee, in each case without the necessity for further act or evidence by the Parties hereto or such assignee, (ii) Producer may assign its rights and obligations hereunder which relate to any particular Station to any Affiliate of Producer which acquires all or substantially all of Producer's interest in such Station, and upon the Company's receipt of notices from Producer of any such assignment, such assignee will be deemed to have assumed, ratified and agreed to be bound by and perform such obligations, and all reference herein to Producer relative to such Station shall thereafter be deemed to be references to such assignee, in each case without the necessity for further acts or evidence by the Parties hereto or such assignee, and (iii) Producer or its permitted assignee Buyer may assign, transfer, pledge or otherwise dispose of its rights and interests hereunder to a trustee or lending institution institution(s) for the purposes of financing or refinancing the Produceracquisition of the Buyer's Generating FacilitiesPurchased Assets, including upon or pursuant to the exercise of remedies with respect to under such financing or refinancing, or by way of assignments, transfers, pledges, conveyances or other dispositions in lieu thereof, ; provided, however, that no such assignment described in (i), (ii) or (iii) of this Section 14.1 shall relieve or discharge the Assignor from any of its obligations hereunder. The Company agrees to execute and deliver, at the Producer's expense, such documents as may be reasonably necessary to accomplish any such assignment, transfer, pledge, conveyance, or other disposition of rights hereunder for purposes of the financing or refinancing of the Producer's Generating Facilities, so long as the Company's rights under this Agreement are not thereby altered, amended, diminished or otherwise impaired.disposition
14.2 No assignment, transfer, pledge, conveyance, or disposition of rights or obligations under this Agreement by a Party shall relieve that Party from full liability and financial responsibility for the performance thereof after any such assignment, transfer, assignmentconveyance, conveyancepledge, or disposition unless and until the transferee or assignee shall agree in writing to assume the obligations and duties of that Party under this AgreementAgreement and the non-assigning Party has consented in writing to such assumption and to a release of the assigning Party from such liability.
14.3 If either Party terminates its existence as a corporate entity by merger, acquisition, sale, consolidation, or otherwise, or if all or substantially all of such Party's assets are transferred to another person or business entity without complying with this Article 14, the other Party shall have the right, enforceable in a court of competent jurisdiction, to enjoin the first Party's successor from using the property in any manner that interferes with, impedes, or restricts such other Party's ability to carry out its ongoing business operations, rights, and obligations. Where applicable, NYSEG shall have the right, as set forth in Section 3.2.2, to operate such equipment set forth in Section 3.2.2 which is necessary for NYSEG to Maintain the Transmission System.
Appears in 1 contract
Assignment/Change in Corporate Identity. 14.1 This Agreement and all of the provisions hereof Neither Party shall be binding uponassign this Agreement, and inure to the benefit of, the Parties hereto and their respective successors and permitted assigns, but neither this Agreement nor any of the rights, interests, its rights or obligations hereunder shall be assigned, except to an Affiliate or successor, by either Party hereto, whether by operation of law or otherwise, without the prior written consent of the other Party, which consent may not be unreasonably withheld withheld; provided, however, either Party may, without the consent of the other Party (and without relieving itself from liability hereunder), transfer, sell, pledge, encumber or delayed. Any assignment of assign this Agreement or the accounts, revenues or proceeds hereof in violation connection with any financing or other financial arrangements, after written notice, transfer or assign this Agreement to an Affiliate of the foregoing shall be, at the option of the non-assigning Party, void. Notwithstanding the foregoing, such Party if (i) Producer may assign all such Affiliate’s creditworthiness is equal to or greater than that of its rights and obligations hereunder to any Affiliate of the Producer which acquires all, such Party; or substantially all, of the Producer's interest in the Stations, and upon the Company's receipt of notice from Producer of any such assignment, such assignee will be deemed to have assumed, ratified, agreed to be bound by and perform all such obligations, and all references herein to "Producer" shall thereafter be deemed to be references to such assignee, in each case without the necessity for further act or evidence by the Parties hereto or such assignee, (ii) Producer may in the case of the Seller, where such Affiliate’s creditworthiness is not equal to or higher than that of such Party, such Affiliate provides the Performance Assurance required pursuant to this Agreement and the other Party consents, which consent shall not be unreasonably withheld after written notice, transfer or assign its rights and obligations hereunder which relate this Agreement to any particular Station person or entity succeeding to any Affiliate of Producer which acquires all or substantially all of Producer's interest the assets whose (i) creditworthiness is equal to or higher than that of such Party, or (ii) in the case of the Seller, where such Stationentity’s creditworthiness is not equal to or higher than that of such Party, such entity provides the Performance Assurance required pursuant to this Agreement and the other Party consents, which consent shall not be unreasonably withheld, and upon the Company's receipt of notices from Producer of any such assignment, such assignee will be deemed to have assumed, ratified and agreed to be bound by and perform such obligations, and all reference herein to Producer relative to such Station shall thereafter be deemed to be references to such assignee, in each case without the necessity for further acts or evidence by the Parties hereto or such assignee, and (iii) Producer or its permitted assignee may assign, transfer, pledge or otherwise dispose of its rights and interests hereunder to a trustee or lending institution for the purposes of financing or refinancing the Producer's Generating Facilities, including upon or pursuant to the exercise of remedies with respect to such financing or refinancing, or by way of assignments, transfers, pledges, or other dispositions in lieu thereof, provided, however, that no in each such assignment described in (i)case, (ii) or (iii) of this Section 14.1 shall relieve or discharge the Assignor from any of its obligations hereunder. The Company agrees to execute and deliver, at the Producer's expense, such documents as may be reasonably necessary to accomplish any such assignment, transfer, pledge, or other disposition of rights hereunder for purposes of the financing or refinancing of the Producer's Generating Facilities, so long as the Company's rights under this Agreement are not thereby altered, amended, diminished or otherwise impaired.
14.2 No assignment, transfer, conveyance, or disposition of rights or obligations under this Agreement by a Party shall relieve that Party from full liability and financial responsibility for the performance thereof after any such transfer, assignment, conveyance, or disposition unless and until the transferee or assignee shall agree in writing to assume be bound by the obligations terms and duties of that conditions hereof and so long as the transferring Party under this Agreementdelivers such tax and enforceability assurance as the non-transferring Party may reasonably request. Governing Law. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY AND CONSTITUTED IN ACCORDANCE WITH THE LAWS OF THE COMMONWEALTH OF PENNSYLVANIA, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW.
Appears in 1 contract
Samples: Supply Master Agreement
Assignment/Change in Corporate Identity. 14.1 This Agreement and all of the provisions hereof shall be binding upon, and inure to the benefit of, the Parties hereto and their respective successors and permitted assigns, but neither 23.1 Neither this Amended Agreement nor any of the rights, interests, or obligations hereunder shall be assigned, except to an Affiliate or successorsuccessor of DLC that owns or operates all or any portion of the Transmission System (including an independent system operator or independent transmission company), or to an Affiliate of Generating Company that owns the Facilities or any subsequent purchaser of any of the Facilities, by either any Party hereto, whether including by operation of law or otherwiselaw, without the prior written consent of the other Party, which said consent may not to be unreasonably withheld or delayedwithheld. Any assignment of this Amended Agreement in violation of the foregoing shall be, at the option of the non-assigning Party, void. .
(a) Notwithstanding the foregoing, (i) Producer may assign all of its rights and obligations hereunder to any Affiliate of the Producer which acquires all, or substantially all, of the Producer's interest in the Stations, and upon the Company's receipt of notice from Producer of any such assignment, such assignee will be deemed to have assumed, ratified, agreed to be bound by and perform all such obligations, and all references herein to "Producer" shall thereafter be deemed to be references to such assignee, in each case without the necessity for further act or evidence by the Parties hereto or such assignee, (ii) Producer may assign its rights and obligations hereunder which relate to any particular Station to any Affiliate of Producer which acquires all or substantially all of Producer's interest in such Station, and upon the Company's receipt of notices from Producer of any such assignment, such assignee will be deemed to have assumed, ratified and agreed to be bound by and perform such obligations, and all reference herein to Producer relative to such Station shall thereafter be deemed to be references to such assignee, in each case without the necessity for further acts or evidence by the Parties hereto or such assignee, and (iii) Producer Generating Company or its permitted assignee may assign, transfer, pledge or otherwise dispose of its rights and interests hereunder to a trustee trustee, lending institution, or lending institution any Person for the purposes of financing or refinancing the Producer's Generating FacilitiesFacility, including upon or pursuant to the exercise of remedies with respect to under such financing or refinancing, or by way of assignments, transfers, pledges, or other conveyances of dispositions in lieu thereof, ; provided, however, that no such assignment described in (i), (ii) or (iii) of this Section 14.1 disposition shall relieve or in any way discharge Generating Company or such permitted assignee from the Assignor from any performance of its duties and obligations hereunderunder this Amended Agreement. The Company DLC agrees to execute and deliver, at the Producer's expense, deliver such documents as may be reasonably necessary to accomplish any such assignment, transfer, pledgeconveyance, pledge or other disposition of rights hereunder for purposes of the financing or refinancing of the Producer's Generating FacilitiesFacility, so long as the CompanyDLC's rights under this Amended Agreement are not thereby materially altered, amended, diminished or otherwise impaired.
14.2 (b) Notwithstanding the foregoing, Generating Company may assign its obligations hereunder in order to facilitate Generating Company obtaining or maintaining exempt wholesale generator status so long as Generating Company provides written notice to DLC of any such assignment.
(c) Notwithstanding the foregoing, either Party may assign this Amended Agreement to a successor to all or substantially all of the assets of such Party by way of merger, consolidation, sale or otherwise, provided such successor assumes and becomes liable for all of such Party's duties and obligations hereunder.
23.2 No assignment, transfer, conveyance, assignment or disposition transfer of rights or obligations under this Amended Agreement by a Party Generating Company shall relieve that Party Generating Company from full liability and financial responsibility for the performance thereof after any such transfer, assignment, conveyance, transfer or disposition assignment unless and until the transferee or assignee shall agree in writing to assume the obligations and duties of that Party Generating Company under this AgreementAmended Agreement and DLC has consented in writing to such assumption; said consent not to be unreasonably withheld. Notwithstanding the foregoing, an assignment by the Generating Company to an Affiliate as contemplated in Section 23.1 shall relieve the Generating Company from full liability and financial responsibility, effective on the date that Affiliate assumes ownership of the Facilities.
23.3 Except as set forth in Section 23.1 above, no assignment or transfer of rights or obligations under this Amended Agreement by DLC shall relieve DLC from full liability and financial responsibility for the performance thereof after any such transfer or assignment unless and until the transferee or assignee shall agree in writing to assume the obligations and duties of DLC under this Amended Agreement and Generating Company has consented in writing to such assumption; said consent not to be unreasonably withheld.
23.4 If either Party terminates its existence as a corporate entity by merger, acquisition, sale, consolidation or otherwise, or if all or substantially all of such Party's assets are transferred to another person or business entity, without complying with Sections 23.2 and 23.3 above, the other Party shall have the right, enforceable in a court of competent jurisdiction, to enjoin the first Party's successor from using the property in any manner that interferes with, impedes, or restricts such other Party's ability to carry out its ongoing business operations, rights and obligations.
23.5 This Amended Agreement and all of the provisions hereof are binding upon, and inure to the benefit of, the Parties and their respective successors and permitted assigns.
Appears in 1 contract
Assignment/Change in Corporate Identity. 14.1 This Agreement and all of the provisions hereof shall be binding upon, and inure to the benefit of, the Parties hereto and their respective successors and permitted assigns, but neither this Agreement nor any of the rights, interests, or obligations hereunder shall be assigned, except to an Affiliate of NYSEG that owns all or successorpart of its transmission system or to an Affiliate of Buyer that owns Millxxxx, by either xx or through any Party hereto, whether by operation of law or otherwise, without the prior written consent of the other Party, which consent may shall not be unreasonably withheld or delayedwithheld. Any assignment of this Agreement in violation of the foregoing shall be, at the option of the non-assigning Party, void. Notwithstanding the foregoing, (i) Producer may assign all of its rights and obligations hereunder to any Affiliate of the Producer which acquires all, or substantially all, of the Producer's interest in the Stations, and upon the Company's receipt of notice from Producer of any such assignment, such assignee will be deemed to have assumed, ratified, agreed to be bound by and perform all such obligations, and all references herein to "Producer" shall thereafter be deemed to be references to such assignee, in each case without the necessity for further act or evidence by the Parties hereto or such assignee, (ii) Producer may assign its rights and obligations hereunder which relate to any particular Station to any Affiliate of Producer which acquires all or substantially all of Producer's interest in such Station, and upon the Company's receipt of notices from Producer of any such assignment, such assignee will be deemed to have assumed, ratified and agreed to be bound by and perform such obligations, and all reference herein to Producer relative to such Station shall thereafter be deemed to be references to such assignee, in each case without the necessity for further acts or evidence by the Parties hereto or such assignee, and (iii) Producer or its permitted assignee Owner may assign, transfer, convey, pledge or otherwise dispose of its rights and interests hereunder to a trustee or lending institution institution(s) for the purposes of financing or refinancing the Producer's Generating Facilitiesacquisition of Millxxxx, including xxich assignment, transfer, conveyance, pledge or disposition may be upon or pursuant to the exercise of remedies with respect to under such financing or refinancing, or by way of assignments, transfers, pledges, conveyances or other dispositions in lieu thereof, ; provided, however, that no such assignment described in (i)assignment, (ii) transfer, conveyance, pledge or (iii) of this Section 14.1 disposition shall relieve or in any way discharge the Assignor Owner from any the performance of its duties and obligations hereunderunder this Agreement. The Company NYSEG agrees to execute and deliver, at the ProducerOwner's expense, such documents as may be reasonably necessary to accomplish 45 49 any such assignment, transfer, pledgeconveyance, pledge or other disposition of rights hereunder for purposes of the financing or refinancing of the Producer's Generating Facilitiesacquisition of Millxxxx, so xx long as the CompanyNYSEG's rights under this Agreement are not thereby altered, amended, diminished or otherwise impaired.
14.2 No assignment, transfer, conveyance, pledge or disposition of rights rights, interests, duties or obligations under this Agreement by a Party shall relieve that the Party from full liability and financial responsibility for the performance thereof after any such transfer, assignment, conveyance, pledge or disposition unless and until the transferee or assignee shall agree in writing to assume the obligations and duties of that Party under this Agreement and non-assigning Party has consented in writing to such assumption and to a release of the assigning Party from such liability.
14.3 If the Owner terminates its existence as a corporate entity, if the Owner merges into, is acquired by, is sold to or consolidates with another business entity, or if all or substantially all of the Owner's assets are transferred to another person or business entity without complying with this Section 14, NYSEG shall have the right, enforceable in a court of competent jurisdiction, to enjoin the Owner's successor from using Millxxxx xx any manner that does not comply with the requirements of this Agreement.
14.4 Any direct or indirect assignment, sale, conveyance, lease, or other transfer of Millxxxx, xxether by operation of law or otherwise, shall be null and void unless, with NYSEG's prior written consent, the transferee of Millxxxx xxxumes all of the Owner's right, title and interest in and to this Agreement, and all of the Owner's rights, interests, duties and obligations hereunder.
Appears in 1 contract