Common use of Legal succession Clause in Contracts

Legal succession. 1. The Contractual Partner shall be entitled, with the consent of the other Contractual Partner, to assign the entire contractual relationship or singular contracted Storage Capacities according to Appendix A, consisting of Working Gas Capacity, Injection and Withdrawal Rate, with the associated rights and obligations arising from this Agreement to a third party. Consent shall be granted if the third party is reliable and creditworthy, the requirements of number 2 are met and if he accepts as mandatory all duties of the transferring Contractual Partner for himself in respect of the other Contractual Partner. 2. Requirements pursuant to number 1 sentence 2 are a) The third party has sufficient creditworthiness or provides an appropriate security deposit according to Article 10 on request.

Appears in 13 contracts

Samples: Agreement on Storage Facility Access, Agreement on Storage Facility Access, Storage Facility Access Agreement

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