Common use of CAMPUSKEY CESSION AND DELEGATION Clause in Contracts

CAMPUSKEY CESSION AND DELEGATION. 7.1 In the event of disposal by CampusKey of the business providing the Services to any third party, CampusKey shall be entitled, on notice to the Resident, to cede all or any of its rights under this Agreement either out and out or as security and to delegate all or any of its obligations under this Agreement to any other Person or Persons, and the Resident hereby irrevocably consents thereto. On such cession taking place, the Resident shall, if so required by any cessionary, make all payments directly to such cessionary. 7.2 Nothing herein contained shall preclude CampusKey from ceding its rights and delegating its obligations in terms of this Agreement to a third party, if such cession and delegation is in pursuance of or in connection with a restructuring, re-organisation or amalgamation of CampusKey, its holding and/or associate entities, subject always that CampusKey shall in such event remain liable for the obligations imposed upon it in terms of this Agreement. effect after termination, notwithstanding the fact that the clauses themselves do not expressly provide this.

CAMPUSKEY CESSION AND DELEGATION. 7.1 In the event of disposal by CampusKey of the business providing the Services to any third party, CampusKey shall be entitled, on notice to the Resident, to cede all or any of its rights under this Agreement either out and out or as security and to delegate all or any of its obligations under this Agreement to any other Person or Persons, and the Resident hereby irrevocably consents thereto. On such cession taking place, the Resident shall, if so required by any cessionary, make all payments directly to such cessionary. 7.2 Nothing herein contained shall preclude CampusKey from ceding its rights and delegating its obligations in terms of this Agreement to a third party, if such cession and delegation is in pursuance of or in connection with a restructuring, re-organisation or amalgamation of CampusKey, its holding and/or associate entities, subject always that CampusKey shall in such event remain liable for the obligations imposed upon it in terms of this Agreement. termination or which of necessity must continue to have effect after termination, notwithstanding the fact that the clauses themselves do not expressly provide this.