Common use of CESSION AND DELEGATION Clause in Contracts

CESSION AND DELEGATION. 6.1. The Lessor has the right to cede and transfer to any person (hereinafter referred to as “the cessionary”) any of its rights under the Agreement, including ownership of the Equipment. In such an event, the cessionary will bear and exercise the ceded obligations and rights, while the Lessee will continue to perform in terms of the Agreement, but in favour of the cessionary, from the date of receipt of a notice of cession. 6.2. The Lessee does not have the right to cede or delegate any of its rights or obligations under the Agreement without the Lessor’s prior written consent.

CESSION AND DELEGATION. 6.1. The Lessor has the right to cede and transfer to any person (hereinafter referred to as “the cessionary”) any of its rights under the Agreement, including ownership of the Equipment. In such an event, the cessionary will bear and exercise the ceded obligations and rights, while the Lessee will continue to perform in terms of the Agreement, but in favour of the cessionary, from the date of receipt of a notice of cession. 6.2. The Lessee Lesser does not have the right to cede or delegate any of its rights or obligations under the Agreement without the Lessor’s prior written consent.

CESSION AND DELEGATION. 6.1. The Lessor has the right to cede and transfer to any person (hereinafter referred to as “the cessionary”) any of its rights under the Agreement, including ownership of the Equipment. In such an event, the cessionary will bear and exercise the ceded obligations and rights, while the Lessee will continue to perform in terms of the Agreement, but in favour of the cessionary, from the date of receipt of a notice of cession. 6.2. The Lessee does not have the right to cede or delegate any of its rights or obligations under the Agreement without the Lessor’s prior written consent.