TRANSFER OF ASSETS AND LIABILITIES AND TRANSITIONAL PROVISIONS Sample Clauses

TRANSFER OF ASSETS AND LIABILITIES AND TRANSITIONAL PROVISIONS. 1. Upon the coming into force of this Agreement, the Governments of the Republic of Kenya, the United Republic of Tanzania and the Republic of Uganda in whom the assets and liabilities of the East African Management Institute are now vested, shall be deemed to have transferred to, and vested in, the Institute the aforementioned assets and liabilities. ; Upon the coming into force of this Agreement, the assets and liabilities deemed to have been transferred to, and vested in, the Institute by virtue of paragraph 1 of this Article, shall by virtue of this paragraph and without further assurance be transferred to and vested in, the Institute and from that day the Institute shall, in respect of such assets and liabilities so transferred and vested, have all the rights and be subject to all the liabilities which the East African Management Institute has, or is subject to, immediately before the coming into force of this Agreement.
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