Common use of Release of Rights and Obligations Clause in Contracts

Release of Rights and Obligations. No assignment, transfer, conveyance, pledge or disposition of rights, interests, duties or obligations under this Agreement by a Party shall relieve that Party from liability and financial responsibility for the performance thereof after any such transfer, assignment, conveyance, pledge or disposition unless and until (i) the transferee or assignee shall agree in writing to assume the obligations and duties of that Party under this Agreement and to impose such obligations on subsequent permitted transferees and assignees and (ii) the non-assigning Party has consented in writing to such assumption and to a release of the assigning Party from such liability, such consent not to be unreasonably withheld or delayed.

Appears in 2 contracts

Samples: Asset Purchase and Sale Agreement (Potomac Electric Power Co), Asset Purchase and Sale Agreement (Southern Energy Inc)

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Release of Rights and Obligations. No assignmentassignment (including a merger, --------------------------------- consolidation or sale of all or substantially all of the assets of the Supplier), transfer, conveyance, pledge or disposition of rights, interests, duties or obligations under this Agreement by a Party shall relieve that Party from liability and financial responsibility for the performance thereof after any such transfer, assignment, conveyance, pledge or disposition unless and until (i) the transferee or assignee shall agree in writing to assume the obligations and duties of that Party under this Agreement and to impose such obligations on subsequent permitted transferees and assignees and (ii) the non-assigning Party has consented in writing to such assumption and to a release of the assigning Party from such liability, such consent not to be unreasonably withheld conditioned, delayed or delayedwithheld.

Appears in 1 contract

Samples: Capacity Agreement (Duquesne Light Co)

Release of Rights and Obligations. No assignment, transfer, --------------------------------- conveyance, pledge or disposition of rights, interests, duties or obligations under this Agreement by a Party shall relieve that Party from liability and financial responsibility for the performance thereof after any such transfer, assignment, conveyance, pledge or disposition unless and until (i) the transferee or assignee shall agree in writing to assume the obligations and duties of that Party under this Agreement and to impose such obligations on subsequent permitted transferees and assignees and (ii) the non-assigning Party has consented in writing to such assumption and to a release of the assigning Party from such liability, such consent not to be unreasonably withheld or delayed.

Appears in 1 contract

Samples: Interconnection Agreement (Mirant Mid Atlantic LLC)

Release of Rights and Obligations. No assignmentassignment (including a merger, --------------------------------- consolidation or sale of all or substantially all of the assets of the POLR Supplier), transfer, conveyance, pledge or disposition of rights, interests, duties or obligations under this Agreement by a Party shall relieve that Party from liability and financial responsibility for the performance thereof after any such transfer, assignment, conveyance, pledge or disposition unless and until (i) the transferee or assignee shall agree in writing to assume the obligations and duties of that Party under this Agreement and to impose such obligations on subsequent permitted transferees and assignees and (ii) the non-assigning Party has consented in writing to such assumption and to a release of the assigning Party from such liability, such consent not to be unreasonably withheld conditioned, delayed or delayedwithheld.

Appears in 1 contract

Samples: Capacity Agreement (Duquesne Light Co)

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Release of Rights and Obligations. No assignmentassignment (including a --------------------------------- merger, consolidation or sale of all or substantially all of the assets of a Party), transfer, conveyance, pledge or disposition of rights, interests, duties or obligations under this Agreement by a Party shall relieve that Party from liability and financial responsibility for the performance thereof after any such transfer, assignment, conveyance, pledge or disposition unless and until (i) the transferee or assignee shall agree in writing to assume the obligations and duties of that Party under this Agreement and to impose such obligations on subsequent permitted transferees and assignees and (ii) the non-assigning Party has consented in writing to such assumption and to a release of the assigning Party from such liability, such consent not to be unreasonably withheld conditioned, delayed or delayedwithheld.

Appears in 1 contract

Samples: Capacity Agreement (Duquesne Light Co)

Release of Rights and Obligations. No assignment, transfer, conveyance, pledge or disposition of rights, interests, duties or obligations under this Agreement by a Party shall relieve that Party from liability and financial responsibility for the performance thereof after any such transfer, assignment, 363 conveyance, pledge or disposition unless and until (i) the transferee or assignee shall agree in writing to assume the obligations and duties of that Party under this Agreement and to impose such obligations on subsequent permitted transferees and assignees and (ii) the non-assigning Party has consented in writing to such assumption and to a release of the assigning Party from such liability, such consent not to be unreasonably withheld or delayed.

Appears in 1 contract

Samples: Asset Purchase and Sale Agreement (Southern Energy Inc)

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