Assumption of Existing Obligations. As provided for in the ISO/TO Agreement, the ISO shall assume all existing contractual and other obligations of the NYPP. If the ISO decides to take action to terminate any such contract or obligation, it will bear any costs related thereto. The ISO shall utilize the current facilities and equipment of the NYPP and retain NYPP employees to the greatest extent practicable.
Assumption of Existing Obligations. AA hereby assumes and agrees to be solely liable, and GeoPharma hereby assigns and transfers to AA, the Existing Note and all of the Existing Obligations. Manju Holdings and Trust hereby consent to the assignment of the Existing Note and Existing Obligations to AA and hereby fully release and acquit GeoPharma from any such obligations. Promptly after the date of this Agreement, AA and Manju Holdings agree to execute a new promissory note which will amend and replace the Existing Note, and which will reflect the total amount of the Existing Obligations, and which will extend the maturity date to a date mutually acceptable to AA and Manju Holdings.
Assumption of Existing Obligations. As provided for in the ISO/TO Agreement, the ISO shall assume all existing contractual and other obligations of the NYPP. If the ISO decides to take action to terminate any such contract or obligation, it will bear any costs related thereto. The ISO shall utilize the current facilities and equipment of the NYPP and retain NYPP employees to the greatest extent practicable. ARTICLE 21: REGULATORY JURISDICTION Subject to Section 19.01, nothing in this Agreement shall restrict the rights of the Parties to file a complaint with or submit any action to the Commission or any other appropriate regulatory authority under relevant provisions of the Federal Power Act or other relevant statutory provisions, nor shall anything in this Agreement affect the jurisdiction of the Commission or any other regulatory authority over matters arising under this Agreement. ARTICLE 22: ASSIGNMENT 22.01
Assumption of Existing Obligations. The Employer shall fully ---------------------------------- assume and fulfill the obligations of the Corporation, its subsidiaries and affiliates with respect to (1) the transfer or redemption of any shares under any stock option plan, stock purchase or stock bonus
