Substitution of the Operator. The Parties hereto acknowledge and agree that upon substitution of the Operator, it shall be deemed for the purposes of this Escrow Agreement that the nominated company is a Party hereto and the nominated company shall accordingly be deemed to have succeeded to the rights and obligations of the Operator under this Escrow Agreement on and with effect from the date of substitution of the Operator with the nominated company.
Appears in 5 contracts
Substitution of the Operator. The Parties hereto acknowledge and agree that upon substitution of the Operator, it shall be deemed for the purposes of this Escrow Agreement that the nominated company is a Party hereto and the nominated company shall accordingly be deemed to have succeeded to the rights and obligations of the Operator under this Escrow Agreement on and with effect from the date of substitution of the Operator with the nominated company.. 3 DEPOSITS INTO ESCROW ACCOUNT
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Samples: Escrow Agreement, Agreement
