Procedure for transfer by way of novations. (a) In this Subclause:
Procedure for transfer by way of novations. (a) In this Clause 27.3:
Procedure for transfer by way of novations. (a) In this Clause 27.3: Transfer Date means, for a Transfer Certificate, the later of:
(i) the proposed Transfer Date specified in that Transfer Certificate; and
(ii) the date on which the Facility Agent executes that Transfer Certificate.
(b) A novation is effected if:
(i) the Existing Lender and the New Lender deliver to the Facility Agent a duly completed Transfer Certificate; and
(ii) the Facility Agent executes it.
(c) On the Transfer Date:
(i) the New Lender will assume the rights and obligations of the Existing Lender expressed to be the subject of the novation in the Transfer Certificate in substitution for the Lender; and
(ii) the Existing Lender will be released from those obligations and cease to have those rights.
(d) Each Party (other than the Existing Lender and the New Lender) irrevocably authorises the Facility Agent to execute any duly completed Transfer Certificate on its behalf.
(e) The Facility Agent must, as soon as reasonably practicable after it has executed a Transfer Certificate, send to the Owner a copy of that Transfer Certificate.
Procedure for transfer by way of novations. (a) A novation is effected if the Existing Lender and the New Lender deliver to the Facility Agent a duly completed Transfer Certificate and the Facility Agent executes it.
(b) The Facility Agent must execute as soon as reasonably practicable a Transfer Certificate delivered to it and which appears on its face to be in order.
(c) Each Party (other than the Existing Lender and the New Lender) irrevocably authorises the Facility Agent to execute any duly completed Transfer Certificate on its behalf.
(d) Subject to Clause 27.13 (Pro rata interest settlement), on the Transfer Date:
(i) the New Lender will assume the rights and obligations of the Existing Lender expressed to be the subject of the novation in the Transfer Certificate in substitution for the Existing Lender; and
(ii) the Existing Lender will be released from those obligations and cease to have those rights.
Procedure for transfer by way of novations. (a) A novation is effected if:
(i) the Existing Lender and the New Lender deliver to the Facility Agent and the Company a duly completed Transfer Certificate; and
(ii) the Facility Agent and the Company execute it. The Facility Agent must execute as soon as reasonably practicable a Transfer Certificate delivered to it and which appears on its face to be in order.
(b) Each Party (other than the Company, the Existing Lender and the New Lender) irrevocably authorises the Facility Agent to execute any duly completed Transfer Certificate on its behalf.
(c) On the Transfer Date:
(i) the New Lender will assume the rights and obligations of the Existing Lender expressed to be the subject of the novation in the Transfer Certificate in substitution for the Existing Lender; and
(ii) the Existing Lender will be released from those obligations and cease to have those rights.
Procedure for transfer by way of novations. (a) In this Subclause: TRANSFER DATE means, for a Transfer Certificate, the later of:
(i) the proposed Transfer Date specified in that Transfer Certificate;
(ii) the date on which the Facility Agent executes that Transfer Certificate; and
(iii) 5 Business Days after the date on which the completed Transfer Certificate is received by the Facility Agent, or such earlier date as is agreed by the Facility Agent.
(b) A novation is effected if:
(i) the Existing Lender and the New Lender deliver to the Facility Agent a duly completed Transfer Certificate; and
(ii) the Facility Agent executes it. The Facility Agent must execute as soon as reasonably practicable a Transfer Certificate delivered to it and which appears on its face to be in order.
(c) Each Party (other than the Existing Lender and the New Lender) irrevocably authorises the Facility Agent to execute any duly completed Transfer Certificate on its behalf.
(d) On the Transfer Date:
(i) the New Lender will assume the rights and obligations of the Existing Lender expressed to be the subject of the novation in the Transfer Certificate in substitution for the Existing Lender; and
(ii) the Existing Lender will be released from those obligations and cease to have those rights.
Procedure for transfer by way of novations. 27.3.1 In this Subclause: Transfer Date means, for a Transfer Certificate, the later of:
27.3.1.1 the proposed Transfer Date specified in that Transfer Certificate; and
27.3.1.2 the date on which the Facility Agent executes that Transfer Certificate.
27.3.2 A novation is effected if:
27.3.2.1 the Existing Lender and the New Lender deliver to the Facility Agent a duly completed Transfer Certificate; and
27.3.2.2 the Facility Agent executes it. The Facility Agent must execute as soon as reasonably practicable a Transfer Certificate delivered to it and which appears on its face to be in order.
27.3.3 Each Party (other than the Existing Lender and the New Lender) irrevocably authorises the Facility Agent to execute any duly completed Transfer Certificate on its behalf.
27.3.4 On the Transfer Date:
27.3.4.1 the New Lender will assume the rights and obligations of the Existing Lender expressed to be the subject of the novation in the Transfer Certificate in substitution for the Existing Lender; and
27.3.4.2 the Existing Lender will be released from those obligations and cease to have those rights.
Procedure for transfer by way of novations. (a) A novation is effected if:
(i) the Existing Lender and the New Lender deliver to the Facility Agent a duly completed Transfer Certificate;
(ii) the Facility Agent executes it; and
(iii) the Facility Agent enters the name of the New Lender and the particulars concerning the transferred interests in the register referred to in Clause 21.14(c) (Relationship with Lenders).
(b) The Facility Agent must, as soon as reasonably practicable:
(i) execute and deliver a Transfer Certificate delivered to it and which appears on its face to be in order; and
(ii) enter the name of the New Lender and the details of the transferred interests in the register referred to in Clause 21.14(c) (Relationship with Lenders).
(c) Each Party (other than the Existing Lender and the New Lender) irrevocably authorises the Facility Agent to execute any duly completed Transfer Certificate on its behalf.
(d) On the Transfer Date:
(i) the New Lender will assume the rights and obligations of the Existing Lender expressed to be the subject of the novation in the Transfer Certificate in substitution for the Existing Lender; and
(ii) the Existing Lender will be released from those obligations and cease to have those rights.
(e) For the purposes of Article 1278 of the Belgian Civil Code, each Obligor, the Lenders and the New Lenders agree that, upon any transfer in whole or in part of any of its rights and obligations under this Agreement by way of novation or upon the implementation of any amendment or granting of any waiver which takes effect as a novation, the Security Interests created by the Security Documents will be preserved for the benefit of the New Lender, the Existing Lenders and the Security Agent.
Procedure for transfer by way of novations. (a) In this Clause 27.2: Transfer Date means, for a Transfer Certificate, the later of:
(i) the proposed Transfer Date specified in that Transfer Certificate; and
(ii) the date on which the Facility Agent executes that Transfer Certificate.
(b) A novation is effected if:
(i) the Existing Lender and the New Lender deliver to the Facility Agent a duly completed Transfer Certificate; and
(ii) the Facility Agent executes it.
(c) On the Transfer Date:
(i) the New Lender will assume the rights and obligations of the Existing Lender expressed to be the subject of the novation in the Transfer Certificate in substitution for the Lender; and
(ii) the Existing Lender will be released from those obligations and cease to have those rights.
(d) Each Party (other than the Existing Lender and the New Lender) irrevocably authorises the Facility Agent to execute any duly completed Transfer Certificate on its behalf.
(e) The Facility Agent shall only be obliged to execute a Transfer Certificate delivered to it by the Existing Lender and the New Lender once it is satisfied it has complied with all necessary “know your customer” or similar checks under all applicable laws and regulations in relation to the assignment to such New Lender.
Procedure for transfer by way of novations. (a) In this Subclause: Transfer Date means, for a Transfer Certificate, the later of:
(i) the proposed Transfer Date specified in that Transfer Certificate; and
(ii) the date on which the Facility Agent executes that Transfer Certificate.
(b) A novation is effected if:
(i) the Existing Lender and the New Lender deliver to the Facility Agent a duly completed Transfer Certificate; and
(ii) the Facility Agent executes it. The Facility Agent must execute as soon as reasonably practicable a Transfer Certificate delivered to it and which appears on its face to be in order.
(c) Each Party (other than the Existing Lender and the New Lender) irrevocably authorises the Facility Agent to execute any duly completed Transfer Certificate on its behalf.
(d) On the Transfer Date:
(i) the New Lender will assume the rights and obligations of the Existing Lender expressed to be the subject of the novation in the Transfer Certificate in substitution for the Existing Lender; and
(ii) the Existing Lender will be released from those obligations and cease to have those rights.
(e) The Facility Agent must, as soon as reasonably practicable after it has executed a Transfer Certificate, send a copy of that Transfer Certificate to the Company.
