NONASSIGNABILITY; SUBCONTRACTS; DESIGNATION AND TERMINATION OF AGENT. 25.1.1 Neither this contract nor any interest herein or any payments hereunder shall be assigned without the prior written consent of TVA, which consent TVA may withhold in its sole discretion. In the event TVA shall give such consent, the same shall not be construed as a waiver of this provision with regard to any subsequent assignment. 25.1.2 Notwithstanding the foregoing, any party may, without the need for consent from the other party (and without relieving itself from liability hereunder), transfer, sell, pledge, encumber or assign this contract or the accounts, revenues or proceeds hereof or thereof in connection with any bank financing or security arrangements, provided, however, that no such assignment shall in any way relieve the assignor from liability for full performance under this contract. Any such assignee shall assume and agree to be bound by the terms and conditions of this contract. Any consent to an assignment under this provision shall not be construed as a waiver of this provision with regard to any subsequent assignment.
Appears in 3 contracts
Samples: Purchase and Sale Agreement (Armstrong Coal Company, Inc.), Purchase and Sale Agreement (Armstrong Resource Partners, L.P.), Credit Agreement (Armstrong Energy, Inc.)
NONASSIGNABILITY; SUBCONTRACTS; DESIGNATION AND TERMINATION OF AGENT. 25.1.1 Neither this contract Contract nor any interest herein or any payments hereunder shall be assigned without the prior written consent of TVA, which consent TVA may withhold in its sole discretion. In the event TVA shall give such consent, the same shall not be construed as a waiver of this provision with regard to any subsequent assignment.
25.1.2 Notwithstanding the foregoing, any party may, without the need for consent from the other party (and without relieving itself from liability hereunder), transfer, sell, pledge, encumber or assign this contract Contract or the accounts, revenues or proceeds hereof or thereof in connection with any bank financing or security arrangements, provided, however, that no such assignment shall in any way relieve the assignor from liability for full performance under this contractContract. Any such assignee shall assume and agree to be bound by the terms and conditions of this contractContract. Any consent to an assignment under this provision shall not be construed as a waiver of this provision with regard to any subsequent assignment.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Armstrong Coal Company, Inc.)
