On the Assignment Date Clause Samples

On the Assignment Date. (a) each of the Issuer and the assignor VRR Lender shall be released from further obligations towards one another under this Agreement in respect of the VRR Loan being assigned and their respective rights against one another under this Agreement in respect of the VRR Loan being assigned shall be cancelled (being the Discharged Rights and Obligations); (b) the Issuer and the assignee VRR Lender shall assume obligations towards one another and/or acquire rights against one another which differ from the Discharged Rights and Obligations only insofar as the Issuer and the assignee VRR Lender have assumed and/or acquired the same in place of the Issuer and the assignor VRR Lender; (c) the Trustee and the assignee VRR Lender shall acquire the same rights and assume the same obligations between themselves as they would have acquired and assumed had the assignee VRR Lender been the assignor VRR Lender with the rights and/or obligations acquired or assumed by it as a result of the transfer and to that extent the Trustee and the assignor VRR Lender shall each be released from further obligations to each other under this Agreement; (d) the assignee VRR Lender shall indicate, in the documentation which it executes on becoming a VRR Lender, that either (i) it is within the charge to Irish corporation tax on the interest payable on the VRR Loan or (ii) in respect of interest payable on the VRR Loan it is subject without any reduction computed by reference to the amount of such interest to tax in a Relevant Territory which generally applies to profits, income or gains received in that territory by persons from sources outside that territory; and (e) subject to the satisfaction of the conditions in clauses 14.1 (Assignment by the VRR Lender) and 14.2 (Conditions of Assignment), the assignee VRR Lender shall become a Party as a VRR Lender.