We use cookies on our site to analyze traffic, enhance your experience, and provide you with tailored content.

For more information visit our privacy policy.

Common use of Rights of substitution Clause in Contracts

Rights of substitution. 3.1.1 Pursuant to the rights, title and interest assigned under Clause 2.1, the Senior Lendersshall be entitled to substitute the Concessionaire by a Selectee under and in accordance withthe provisions of this Agreement and the Concession Agreement. 3.1.2 The Concessioning Authority hereby agrees to substitute the Concessionaire by endorsement on the Concession Agreement in favour of the Selectee selected by the SeniorLenders in accordance with this Agreement (For the avoidance of doubt, the Senior Lendersshall not be entitled to operate and maintain the Project/Project Facilities and Services).

Appears in 2 contracts

Samples: Concession Agreement, Concession Agreement

Rights of substitution. 3.1.1 Pursuant to the rights, title and interest assigned under Clause 2.1, the Senior Lendersshall Lenders shall be entitled to substitute the Concessionaire by a Selectee under and in accordance withthe with the provisions of this Agreement and the Concession Agreement. 3.1.2 The Concessioning Authority hereby agrees to substitute the Concessionaire by endorsement on the Concession Agreement in favour of the Selectee selected by the SeniorLenders Senior Lenders in accordance with this Agreement (For the avoidance of doubt, the Senior Lendersshall Lenders shall not be entitled to operate and maintain the Project/Project Facilities and Services).

Appears in 1 contract

Samples: Concession Agreement

Rights of substitution. 3.1.1 Pursuant to the rights, title and interest assigned under Clause 2.1, the Senior Lendersshall Lenders shall be entitled to substitute the Concessionaire by a Selectee under and in accordance withthe with the provisions of this Agreement and the Concession Agreement. 3.1.2 The Concessioning Authority hereby agrees to substitute the Concessionaire by endorsement on the Concession Agreement in favour of the Selectee selected by the SeniorLenders Lenders in accordance with this Agreement (For the avoidance of doubt, the Senior Lendersshall Lenders shall not be entitled to operate and maintain the Project/Project Facilities and Services).

Appears in 1 contract

Samples: Concession Agreement