Contracts not capable of assignment Clause Samples
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Contracts not capable of assignment. In the case of a contract not capable of assignment, or only assignable with the permission of the supplier:
(a) the Sellers are to maintain the contract (or part thereof) for the benefit of the Buyers for so long as is necessary to ascertain whether the supplier is prepared to permit assignment, or novate the contract (or part thereof);
(b) the Sellers are to use all reasonable and proper endeavours to obtain permission to assign the contract (or part thereof), or procure a novation for the Buyers;
(c) if assignment is permitted by the supplier, paragraph 3 (contracts capable and assignment) is to apply;
Contracts not capable of assignment. 4.1 In the case of a contract not capable of assignment, or only assignable with the permission of the supplier:
4.1.1 the Seller will maintain the contract for the benefit of the Buyer for so long as is necessary to ascertain whether the supplier is prepared to permit assignment, or novate the contract;
4.1.2 the Seller will use all reasonable endeavours to obtain permission to assign the contract, or procure a novation for the Buyer;
4.1.3 if assignment is permitted by the supplier, paragraph 3 is to apply;
4.1.4 if a novation is obtainable, the Buyer will take up the new contract with the supplier, or permit the Seller to obtain a cancellation of the original contract;
4.1.5 the Buyer will reimburse to the Seller the cost of maintaining the contract for any period mentioned in paragraph 4. 1. 1; and
4.1.6 The Seller will bear the costs of cancellation of any contract and the Buyer will bear the cost of any novation; but
4.1.7 the Seller may cancel a contract where it is not capable of assignment and the supplier is unwilling to permit an assignment or agree a novation. SIGNED by and on behalf of the Seller in the presence of:- /s/ Rowan White /s/ ▇▇▇▇ ▇'▇▇▇▇l ----------------------- ------------------------ Rowan White So▇▇▇▇▇▇▇, ▇▇lfast SIGNED by the Buyer in the presence of:- /s/ Catherine Allison /s/ ▇▇▇▇ ▇▇▇▇▇▇ ----------------------- ------------------------ Solicitor APPENDIX A (THE PLANT AND EQUIPMENT) QTY ITEM DESCRIPTION CONTRACTOR CURRENT CONTRACT 2 Cradley oil fired steam GW Monson PO Basis boilers 1 Ygnis gas fired steam boiler GW Monson PO Basis 1 Satchwell BMS (heat Satchwell Grant PO Basis management system) 1 Oil Storage tank N/A 1 Puma Diesel generator set & Edina PO Basis associated equipment 1 Hitachi water chiller Carrier PO Basis