Sub-Licence, Assignment, Encumbrances etc Sample Clauses

Sub-Licence, Assignment, Encumbrances etc. A. Notwithstanding anything to the contrary contained in this Agreement, the Concessionaire shall not sub-licence, assign or in any manner create an Encumbrance on any Project Asset forming part of Commercial Complex without prior written approval of the Authority, which approval the Authority may, in its discretion, deny if such sub-licence, assignment or Encumbrance has or may have a material adverse effect on the rights and obligations of the Authority under this Agreement or Applicable Laws. Provided that notwithstanding anything to the contrary contained in this Agreement, the Concessionaire shall be permitted to create encumbrance on Project Assets forming part of the Commercial Complex (excluding the land) only in favour of Senior Lenders that are Nationalised Banks, for achieving Financial Close for the purpose of financing the construction/development of Commercial Complex.
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Related to Sub-Licence, Assignment, Encumbrances etc

  • Acting Assignment (a) For the purpose of this Agreement, acting assignment means the assignment of an employee on an acting basis to a Postmaster or Senior Assistant position which is at a higher classification level than the position to which he is appointed. An employee will perform the duties of the higher classification level that may be required during the acting assignment in order to be entitled to receive the acting pay.

  • ASSIGNMENT AND SUB-LETTING Tenant shall not assign this Agreement, or sub-let or grant any license to use the Premises or any part thereof without the prior written consent of Landlord. A consent by Landlord to one such assignment, sub-letting or license shall not be deemed to be a consent to any subsequent assignment, sub-letting or license. An assignment, sub-letting or license without the prior written consent of Landlord or an assignment or sub-letting by operation of law shall be absolutely null and void and shall, at Landlord's option, terminate this Agreement.

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