Common use of Assignments by Department Clause in Contracts

Assignments by Department. Department shall have the right to assign all of its right, title and interest in this Agreement together with the Fund and the Trust Estate in their entirety to another Governmental Authority created or designated by Law to carry out the rights, powers, duties and obligations of Department under the Act; provided, however, that no such assignment shall be effective for purposes of this Section 12.10(c) until (i) Department has provided written notice to Seller of such assignment, which notice shall include the name and address of the assignee; and (ii) any such assignee shall agree in writing to be bound by the terms and conditions hereof; and (iii) Department delivers such tax and enforceability assurance as Seller may reasonably request. In addition, Department may transfer, sell, pledge, encumber or assign a security interest solely to a bond trustee as security for payment of Bonds issued by Department. Seller agrees to provide a consent to any such assignee or bond trustee substantially in the form of consent provided in Appendix G.