Common use of Right to assign or novate Clause in Contracts

Right to assign or novate. (a) Prior to a proposed assignment or novation of its rights or obligations under this deed, the party seeking to assign its rights or novate its obligations (Assigning Party) must seek the consent of the Minister and: (i) satisfy the Minister (acting reasonably) that the person to whom the Assigning Party’s rights or obligations are to be assigned or novated (Incoming Party) has sufficient assets, resources and expertise required to perform the Assigning Party’s obligations under this deed insofar as those obligations are to be novated to the Incoming Party; (ii) procure the execution of an agreement by the Incoming Party with the Minister on terms satisfactory to the Minister (acting reasonably) under which the Incoming Party agrees to comply with the terms and conditions of this deed as though the Incoming Party were the Assigning Party; and (iii) satisfy the Minister, acting reasonably, that it is not in material breach of its obligations under this deed. (b) The Assigning Party must pay the Minister’s reasonable legal costs and expenses incurred under this clause 10.1.

Right to assign or novate. (a) Prior to a proposed assignment or novation of its rights or obligations under this deed, the party seeking to assign its rights or novate its obligations (Assigning Party) must seek the consent of the Minister Council and: (i) satisfy the Minister Council (acting reasonably) that the person to whom the Assigning Party’s rights or obligations are to be assigned or novated (Incoming Party) has sufficient assets, resources and expertise required to perform the Assigning Party’s obligations under this deed insofar as those obligations are to be novated to the Incoming Party; (ii) procure the execution of an agreement by the Incoming Party with the Minister Council on terms satisfactory to the Minister Council (acting reasonably) under which the Incoming Party agrees to comply with the terms and conditions of this deed as though the Incoming Party were the Assigning Party; and (iii) satisfy the MinisterCouncil, acting reasonably, that it is not in material breach of its obligations under this deed. (b) The Assigning Party must pay the MinisterCouncil’s reasonable legal costs and expenses incurred under this clause 10.19.1. (c) Council agrees to the terms of the Deed of Novation.

Right to assign or novate. (a) Prior Subject to sub-clause (b), prior to a proposed assignment or novation of its rights or obligations under this deedAgreement, the party seeking Developer or any successor to assign its rights or novate its obligations the Developer (Assigning Party) must seek the consent of the Minister Council and: (i) satisfy the Minister Council (acting reasonably) that the person to whom the Assigning Party’s rights or obligations are to be assigned or novated (Incoming Party) has sufficient assets, resources and expertise required to perform the Assigning Party’s obligations under this deed Agreement insofar as those obligations are to be novated to the Incoming Party; (ii) procure the execution of an agreement by the Incoming Party with the Minister Council on terms satisfactory to the Minister Council (acting reasonably) under which the Incoming Party agrees to comply with the terms and conditions of this deed Agreement as though the Incoming Party were the Assigning Party; and (iii) satisfy the Minister, Council (acting reasonably, ) that it is not in material breach of its obligations under this deedAgreement. (b) The Council must not refuse consent to a proposed assignment or novation of the Developer's rights or obligations under this Agreement where such assignment or novation is to a Related Entity. (c) The Assigning Party must pay the MinisterCouncil’s reasonable legal costs and expenses incurred under this clause 10.18.1.

Right to assign or novate. (a) Prior to a proposed assignment or novation of its rights or obligations under this deed, the party seeking to assign its rights or novate its obligations (Assigning Party) must seek the consent of the Minister Council and: (i) satisfy the Minister Council (acting reasonably) that the person to whom the Assigning Party’s rights or obligations are to be assigned or novated (Incoming Party) has sufficient assets, resources and expertise required to perform the Assigning Party’s obligations under this deed insofar as those obligations are to be novated to the Incoming Party; (ii) procure the execution of an agreement by the Incoming Party with the Minister Council on terms satisfactory to the Minister Council (acting reasonably) under which the Incoming Party agrees to comply with the terms and conditions of this deed as though the Incoming Party were the Assigning Party; and (iii) satisfy the MinisterCouncil, acting reasonably, that it is not in material breach of its obligations under this deed. (b) The Assigning Party must pay the MinisterCouncil’s reasonable legal costs and expenses incurred under this clause 10.1.

Right to assign or novate. ‌ (a) Prior Subject to sub-clause (b), prior to a proposed assignment or novation of its rights or obligations under this deedAgreement, the party seeking Developer or any successor to assign its rights or novate its obligations the Developer (Assigning Party) must seek the consent of the Minister Council and: (i) satisfy the Minister Council (acting reasonably) that the person to whom the Assigning Party’s rights or obligations are to be assigned or novated (Incoming Party) has sufficient assets, resources and expertise required to perform the Assigning Party’s obligations under this deed Agreement insofar as those obligations are to be novated to the Incoming Party; (ii) procure the execution of an agreement by the Incoming Party with the Minister Council on terms satisfactory to the Minister Council (acting reasonably) under which the Incoming Party agrees to comply with the terms and conditions of this deed Agreement as though the Incoming Party were the Assigning Party; and (iii) satisfy the Minister, Council (acting reasonably, ) that it is not in material breach of its obligations under this deedAgreement. (b) The Council must not refuse consent to a proposed assignment or novation of the Developer's rights or obligations under this Agreement where such assignment or novation is to a Related Entity. (c) The Assigning Party must pay the MinisterCouncil’s reasonable legal costs and expenses incurred under this clause 10.18.1.

Right to assign or novate. (a) Prior to a proposed assignment or novation of its rights or obligations under this deed, the party seeking to assign its rights or novate its obligations (Assigning Party) must seek the consent of the Minister Council and: (i) satisfy the Minister Council (acting reasonably) that the person to whom the Assigning Party’s rights or obligations are to be assigned or novated (Incoming Party) has sufficient assets, resources and expertise required to perform the Assigning Party’s obligations under this deed insofar as those obligations are to be novated to the Incoming Party; (ii) procure the execution of an agreement by the Incoming Party with the Minister Council on terms satisfactory to the Minister Council (acting reasonably) under which the Incoming Party agrees to comply with the terms and conditions of this deed as though the Incoming Party were the Assigning Party; and (iii) satisfy the MinisterCouncil, acting reasonably, that it is not in material breach of its obligations under this deed. (b) The Assigning Party must pay the MinisterCouncil’s reasonable legal costs and expenses incurred under this clause 10.19.1.