Common use of Transfer of Project Benefits and Responsibilities to a New Owner Clause in Contracts

Transfer of Project Benefits and Responsibilities to a New Owner. The parties expect that the implementing mechanisms will allow for a transfer of Yolo county’s benefits and responsibilities under the Project to any future owner or operator upon request of Yolo county and the new owner or operator, provided that the following conditions are met: A. Yolo County will provide written notice of any such proposed transfer to the EPA, the state of California, and all applicable local agencies at least ninety (90) days before the effective date of the transfer. The notice is expected to include identification of the proposed new owner or operator, a description of its financial and technical capability to assume the obligations associated with the Project, and a statement of the new owner or operator’s intention to take over the responsibilities in the XL Project of the existing owner or operator. B. Within forty-five (45) days of receipt of the written notice, the parties expect that EPA, the state of California, and all applicable local agencies in consultation with all stakeholders, will determine whether: 1) the new owner or operator has demonstrated adequate capability to meet EPA’s requirements for carrying out the XL Project; 2) is willing to take over the responsibilities in the XL Project of the existing owner or operator; and 3) is otherwise an appropriate Project XL partner. Other relevant factors, including the new owner or operator’s record of compliance with Federal, State and local environmental requirements, may be considered as well. It is expected that the implementation mechanism will provide that, so long as the demonstration has been made to the satisfaction and unreviewable discretion of EPA, the state of California, and all applicable local agencies and upon consideration of other relevant factors, the FPA will be modified to allow the proposed transferee to assume the rights and obligations of Yolo county. In the event that the transfer is disapproved by any agency, withdrawal or termination may be initiated, as provided in Section XI. It will be necessary to modify the Agreement to reflect the new owner and it may also be necessary for EPA, the state of California, and all applicable local agencies to amend appropriate rules, permits, or other implementing mechanisms (subject to applicable public notice and comment) to transfer the legal rights and obligations of Yolo county under this Project to the proposed new owner or operator. The rights and obligations of this project remain with Yolo county prior to their final, legal transfer to the proposed transferee.

Transfer of Project Benefits and Responsibilities to a New Owner. The parties Parties expect that the implementing mechanisms will allow for a transfer of Yolo county’s the County s benefits and responsibilities under the Project to any future owner or operator upon request of Yolo county County and the new owner or operator, provided that the following conditions are met: A. Yolo The County will provide written notice of any such proposed transfer to the EPA, the state State of CaliforniaMaryland, and all applicable local agencies at least ninety (90) days before the effective date of the transfer. The notice is expected to include identification of the proposed new owner or operator, a description of its financial and technical capability to assume the obligations associated with the Project, and a statement of the new owner or operator’s operator s intention to take over the responsibilities in the XL Project of the existing owner or operator. B. Within forty-five (45) days of receipt of the written notice, the parties Parties expect that EPA, the state State of CaliforniaMaryland, and all applicable local agencies in consultation with all stakeholders, will determine whether: : (1) the new owner or operator has demonstrated adequate capability to meet EPA’s EPA s requirements for carrying out the XL Project; (2) is willing to take over the responsibilities in the XL Project of the existing owner or operator; and and, (3) is otherwise an appropriate Project XL partner. Other relevant factors, including the new owner or operator’s operator s record of compliance with Federal, State and local environmental requirements, may be considered as well. It is expected that the implementation mechanism will provide that, so long as the demonstration has been made to the satisfaction and unreviewable discretion of EPA, the state State of CaliforniaMaryland, and all applicable local agencies and upon consideration of other relevant factors, the FPA will be modified to allow the proposed transferee to assume the rights and obligations of Yolo countythe County. In the event that the transfer is disapproved by any agency, withdrawal or termination may be initiated, as provided in Section XI. It will be necessary to modify the Agreement to reflect the new owner and it may also be necessary for EPA, the state State of CaliforniaMaryland, and all applicable local agencies to amend appropriate rules, permits, or other implementing mechanisms (subject to applicable public notice and comment) to transfer the legal rights and obligations of Yolo county the County under this Project to the proposed new owner or operator. The rights and obligations of this project Project remain with Yolo county the County prior to their final, legal transfer to the proposed transferee.

Transfer of Project Benefits and Responsibilities to a New Owner. The parties expect that the implementing mechanisms will allow for a transfer of Yolo countythe County’s benefits and responsibilities under the Project to any future owner or operator upon request of Yolo county County and the new owner or operator, provided that the following conditions are met: A. Yolo The County will provide written notice of any such proposed transfer to the EPA, the state State of CaliforniaMaryland, and all applicable local agencies at least ninety (90) days before the effective date of the transfer. The notice is expected to include identification of the proposed new owner or operator, a description of its financial and technical capability to assume the obligations associated with the Project, and a statement of the new owner or operator’s intention to take over the responsibilities in the XL Project of the existing owner or operator. B. Within forty-five (45) days of receipt of the written notice, the parties expect that EPA, the state State of CaliforniaMaryland, and all applicable local agencies in consultation with all stakeholders, will determine whether: : (1) the new owner or operator has demonstrated adequate capability to meet EPA’s requirements for carrying out the XL Project; (2) is willing to take over the responsibilities in the XL Project of the existing owner or operator; and and, (3) is otherwise an appropriate Project XL partner. Other relevant factors, including the new owner or operator’s record of compliance with Federal, State and local environmental requirements, may be considered as well. It is expected that the implementation mechanism will provide that, so long as the demonstration has been made to the satisfaction and unreviewable discretion of EPA, the state State of CaliforniaMaryland, and all applicable local agencies and upon consideration of other relevant factors, the FPA will be modified to allow the proposed transferee to assume the rights and obligations of Yolo countythe County. In the event that the transfer is disapproved by any agency, withdrawal or termination may be initiated, as provided in Section XI. It will be necessary to modify the Agreement to reflect the new owner and it may also be necessary for EPA, the state State of CaliforniaMaryland, and all applicable local agencies to amend appropriate rules, permits, or other implementing mechanisms (subject to applicable public notice and comment) to transfer the legal rights and obligations of Yolo county the County under this Project to the proposed new owner or operator. The rights and obligations of this project Project remain with Yolo county the County prior to their final, legal transfer to the proposed transferee.