Delegation; Assignments Sample Clauses

Delegation; Assignments. Except as permitted by Section 2(b) of this Agreement, the Collateral Manager may not assign or delegate its rights or responsibilities hereunder unless (a) such assignment or delegation has received the consent of the Issuer and a Majority-in-Interest of Preferred Shareholders, and (b) the Issuer has received the written confirmation of each Rating Agency that such assignment or delegation will not cause the reduction or withdrawal of its then current ratings of any Class of Notes and, notwithstanding any such consent, no delegation of duties by the Collateral Manager shall relieve it from any liability hereunder. Notwithstanding the foregoing, the Collateral Manager shall be permitted, without the consent of the Issuer and the consent of the Preferred Shareholders or receiving the written confirmation of each Rating Agency that such assignment or delegation will not cause the reduction or withdrawal of its then current ratings of any Class of Notes, to assign any or all of its rights and delegate any or all of its obligations under this Agreement to an Affiliate or a wholly-owned subsidiary of an Affiliate so long as such Affiliate or wholly-owned subsidiary (i) has demonstrated an ability to professionally and competently perform duties similar to those imposed upon the Collateral Manager under this Agreement, (ii) is legally qualified and has the capacity to act as Collateral Manager under this Agreement and (iii) immediately after the assignment or delegation, employs principal personnel performing the duties required under this Agreement who are the same individuals who would have performed such duties had the assignment or delegation not occurred, provided, that the Collateral Manager shall be permitted, with the consent of the Issuer and a Majority-in-Interest of Preferred Shareholders, to assign to an entity, other than an Affiliate, which immediately after such assignment employs the same principal personnel performing the duties required under this Agreement who are the same individuals who would have performed such duties had the assignment not occurred; provided, further, that such entity meets the criteria in subclauses (i) and (ii) above and each of the Rating Agencies has confirmed in writing that such assignment will not cause the reduction or withdrawal of its then current ratings of any Class of Notes. Any assignment consented to by the Issuer and a Majority-in-Interest of Preferred Shareholders shall bind the assignee hereunder in the s...
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Delegation; Assignments. Except with respect to those responsibilities delegated pursuant to the Collateral Administration Agreement, the responsibilities of the Collateral Manager under this Agreement shall not be delegated by the Collateral Manager, in whole or in part, without the prior written
Sample 1
Delegation; Assignments. Except with respect to those responsibilities set forth in the Collateral Administration Agreement, the responsibilities of the Collateral Manager under this Agreement shall not be delegated by the Collateral Manager, in whole or in part, unless such delegation is consented to in writing by the Issuer and the Insurer (so long as it is the Controlling Party) or, if the Insurer is no longer the Controlling Party, the Holders of a Majority of the Aggregate Outstanding Amount of each Class of Notes and a Majority by number of the outstanding Preferred Shares (excluding, at the time of such vote, such Notes and Preferred Shares held by the Collateral Manager or its affiliates, but only to the extent that
Sample 1
Delegation; Assignments 
Sample 1Sample 2

Related to Delegation; Assignments

  • DELEGATION, ASSIGNMENT AND SUBCONTRACTS CONTRACTOR may not delegate the obligations hereunder, either in whole or in part, without 29 prior written consent of COUNTY. CONTRACTOR shall provide written notification of 30 CONTRACTOR’s intent to delegate the obligations hereunder, either in whole or part, to 31 ADMINISTRATOR not less than sixty (60) calendar days prior to the effective date of the delegation. 32 Any attempted assignment or delegation in derogation of this paragraph shall be void.

  • Non-Assignment PROVIDER shall neither assign its rights nor delegate its duties under this Agreement without the prior written consent of A&M System.

  • Shift Assignments When an opening occurs in a shift assignment in an appropriate work group at a location, preference shall be given to employees within the classification who possess the training, ability and any required special qualifications to perform the work required, on the basis of seniority. In the event that no employee desires a shift assignment, employees shall be selected in order of inverse seniority. This provision shall not apply to necessary training assignments. This provision shall not in itself alter the practice of rotating shifts where such practice presently exists. No employee who has a regular shift assignment on the effective date of the Agreement shall be involuntarily displaced from such shift assignment as a result of this Article.

  • Assignment; Delegation The Contract shall be binding upon and ensure to the benefit of the City and the Contractor and their respective successors and assigns, provided however, that no right or interest in the Contract shall be assigned and no obligation shall be delegated by the Contractor without the prior written consent of the City. Any attempted assignment or delegation by the Contractor shall be void unless made in conformity with this paragraph. The Contract is not intended to confer rights or benefits on any person, firm or entity not a party hereto; it being the intention of the parties that there are no third party beneficiaries to the Contract.

  • Delegations The Commonwealth Minister may delegate the assessment of performance against milestones and the authorisation of related project payments to senior Commonwealth officials, having regard to the financial and policy risks associated with those payments.

  • Assignment and Delegation The Contractor may assign rights and may delegate duties under this Agreement to other individuals or entities acting as a subcontractor (“Subcontractor”). The Contractor recognizes that they shall be liable for all work performed by the Subcontractor and shall hold the Client harmless of any liability in connection with their performed work.

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