ASSIGNMENT, SUCCESSION AND NOVATION Sample Clauses

ASSIGNMENT, SUCCESSION AND NOVATION. 20.1. The Grant Recipient will not transfer, assign, novate or otherwise dispose of the whole or any part of the Grant Funding Agreement or any rights under it, to another organisation or individual, without the Authority’s prior written approval. 20.2. The Grant Recipient shall notify the Authority if there is a change affecting any part of the Land, which could prejudice the carrying out of the Funded Activities, including (without limitation) changes to any lease or tenancy, grant of a new leasehold interest over all or part of the land, permanent boundary changes, grant of a licence or any contractual interest in the land, acquisition of any new land or a Succession (‘Notifiable Change’) no later than three (3) months of the Notifiable Change taking place. 20.3. With the prior written agreement of the Authority and at its sole discretion, the Grant Recipient may novate this Grant Funding Agreement to a Successor pursuant to a Novation Agreement (Novation), within twelve (12) months) of completion of a Succession, such Novation at all times to be subject to paragraph 26. The Grant Recipient acknowledges and agrees that if a Succession occurs and a Novation Agreement executed by the Grant Recipient and the Successor is not received by the Authorised Representative on or before twelve (12) months after the Succession for any reason, the Authority may exercise its discretion to recover the full amount of the Grant and any other sums actually received by the Grant Recipient pursuant to this Agreement and to terminate this Agreement in accordance with paragraph 26. 20.4. The Authority’s form of Novation Agreement shall be used for any Novation of this Grant Funding Agreement. 20.5. From and including the date of the Novation, the Grant Recipient agrees that it shall not be entitled to any further sums under the terms of this Grant Funding Agreement; and if a breach of any requirement of this paragraph occurs, the Authority may exercise its discretion to recover from the Grant Recipient the full sums of the Grant received by the Grant Recipient pursuant to the terms of this Grant Funding Agreement and to terminate this Grant Funding Agreement in accordance with paragraph 26.
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ASSIGNMENT, SUCCESSION AND NOVATION. 20.1. The Grant Recipient will not transfer, assign, novate or otherwise dispose of the whole or any part of the Grant Funding Agreement or any rights under it, to another organisation or individual, without the Authority’s or its Authorised Representatives prior written approval. 20.2. The Grant Recipient must notify the Authorised Representative if there is anything affecting any part of the Land which could prejudice the carrying out of the Funded Activities, including (without limitation) changes to any lease or tenancy, grant of a new leasehold interest over all or part of the Land, permanent boundary changes, grant of a licence or any contractual interest in the Land, acquisition of any new land or a Succession (Change in Management Control) no later than three (3) months after the Change in Management Control takes place. 20.3. The Grant Recipient acknowledges and accepts that any Change in Management Control (even that with the approval of the Authority) may have consequences for the Agreement. In case of a Change in Management Control, the Authority may at its sole discretion carry out the following actions/consequences including but not limited to: 20.3.1. elect to recover all or part of the Grant and any other sums actually received by the Grant Recipient and terminate this Agreement in accordance with paragraph 26 at any time following a Change in Management Control occurring; and/or 20.3.2. withhold payment of any sums that become due to the Grant Recipient under these terms and conditions on or after a Change in Management control takes place. 20.4. Without prejudice to the generality of paragraph 20.2: 20.4.1. with the agreement of the Authority or its Authorised Representative at their sole discretion, the Grant Recipient may novate this Agreement to a Successor, on the terms of the Novation Agreement (Novation), within 12 (twelve) months of completion of a Succession, such Novation is at all times subject to paragraph Error! Reference source n ot found.; and 20.4.2. the Grant Recipient acknowledges and accepts that if a Succession occurs and a Novation Agreement completed by the Grant Recipient and the Successor is not received by the Authorised Representative on or before twelve (12) months after the Succession for any reason, the Authority may exercise its discretion to recover the full amount of the Grant and any other sums actually received by the Grant Recipient pursuant to this Agreement and terminate this Agreement in accordance wit...
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Related to ASSIGNMENT, SUCCESSION AND NOVATION

  • Assignment and Succession The rights and obligations of the Company under this Agreement shall inure to the benefit of and be binding upon its respective successors and assigns, and the Executive’s rights and obligations hereunder shall inure to the benefit of and be binding upon his Designated Successors. The Executive may not assign any obligations or responsibilities he has under this Agreement.

  • Assignment; Successors Neither this Agreement nor any of the rights, interests or obligations under this Agreement may be assigned or delegated, in whole or in part, by operation of law or otherwise, by any party without the prior written consent of the other parties, and any such assignment without such prior written consent shall be null and void. Subject to the preceding sentence, this Agreement will be binding upon, inure to the benefit of, and be enforceable by, the parties and their respective successors and assigns.

  • Assignment Successor Agent This Agreement shall not be assigned by either party without the prior written consent of the other party, except that the Financial Administrator may assign this Agreement to a successor to all of or a substantial portion of its business, or to a party controlling, controlled by, or under common control with the Financial Administrator. This Agreement shall be binding on and shall inure to the benefit of each party and to their respective successors and permitted assigns. If a successor agent for Evergreen shall be appointed by Evergreen or a Trust, the Financial Administrator shall upon termination deliver to such successor agent at the office of the Financial Administrator all properties of Evergreen or a Trust held by it hereunder.

  • Non-Assignment; Successors Neither party hereto may assign his/her or its rights or delegate his/hers or its duties under this Agreement without the prior written consent of the other party; provided, however, that (i) this Agreement shall inure to the benefit of and be binding upon the successors and assigns of the Company upon any sale or all or substantially all of the Company’s assets, or upon any merger, consolidation or reorganization of the Company with or into any other corporation, all as though such successors and assigns of the Company and their respective successors and assigns were the Company; and (ii) this Agreement shall inure to the benefit of and be binding upon the heirs, assigns or designees of Executive to the extent of any payments due to them hereunder. As used in this Agreement, the term “Company” shall be deemed to refer to any such successor or assign of the Company referred to in the preceding sentence.

  • Assignment; Assumption by Successor The rights of the Company under this Agreement may, without the consent of Executive, be assigned by the Company, in its sole and unfettered discretion, to any person, firm, corporation or other business entity which at any time, whether by purchase, merger or otherwise, directly or indirectly, acquires all or substantially all of the assets or business of the Company. The Company will require any successor (whether direct or indirect, by purchase, merger or otherwise) to all or substantially all of the business or assets of the Company expressly to assume and to agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place; provided, however, that no such assumption shall relieve the Company of its obligations hereunder. As used in this Agreement, the “Company” shall mean the Company as hereinbefore defined and any successor to its business and/or assets as aforesaid which assumes and agrees to perform this Agreement by operation of law or otherwise.

  • Assignment and Successors The Company shall assign its rights and obligations under this Agreement to any successor to all or substantially all of the business or the assets of the Company (by merger or otherwise). This Agreement shall be binding upon and inure to the benefit of the Company, Executive, and their respective successors, assigns, personnel, and legal representatives, executors, administrators, heirs, distributees, devisees, and legatees, as applicable. None of Executive’s rights or obligations may be assigned or transferred by Executive, other than Executive’s rights to payments hereunder, which may be transferred only by will, operation of law, or as otherwise provided herein.

  • Succession and Assignment This Agreement shall be binding upon and inure to the benefit of the Parties named herein and their respective successors and permitted assigns. No Party may assign either this Agreement or any of its rights, interests, or obligations hereunder without the prior written approval of the other Parties.

  • Assignment; Successors; Binding Agreement 1. Executive may not assign, pledge or encumber his interest in this Agreement or any part thereof. 2. The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company, operation of law or by agreement in form and substance reasonably satisfactory to Executive, to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. 3. This Agreement shall inure to the benefit of and be enforceable by Executive's personal or legal representatives, executors, administrators, successors, heirs, distributee, devisees and legatees. If Executive should die while any amount is at such time payable to him hereunder, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement to Executive's devisee, legates or other designee or, if there be no such designee, to his estate.

  • ASSIGNMENT/SUB-CONTRACTING The Contractor agrees that he will not sell, assign or transfer this Agreement or any part thereof or interest therein without the prior written consent of the Owner.

  • Assumption by Successor The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company, by operation of law or by agreement in form and substance reasonably satisfactory to Executive, to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place.

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