Common use of TRANSFER OF THE CONTRACT Clause in Contracts

TRANSFER OF THE CONTRACT. 13.1. For all intents and purposes, it is specified that the transfer of the Contract under the terms of this Article must be distinguished from the transfer of obligations resulting from a transaction on the Secondary Market, in accordance with the terms of Chapter 10 of the Functioning Rules. 13.2. The Contract may not be transferred by the CAPACITY PROVIDER, either in whole or in part, without prior written permission from XXXX. Said permission cannot be unreasonably refused or delayed. Said permission shall however be subject to compliance with the following conditions: o The transferee must be a CRM Candidate; o The transfer relates to all the Transactions associated with a CMU or Linked Capacities; o Proof is provided of compliance with all obligations due; o Subject to the hypothesis mentioned in the following point, the transferred CMU or, as the case may be, the transferred CMUs related to Linked Capacities is (are) covered by a Financial Security with the transferee (bank guarantee, parent company guarantee or cash payment) in accordance with the conditions described in the Functioning Rules; o If the transfer concerns an Existing CMU or, as multiple CMUs in the case of Linked Capacities and occurs within a Delivery Period, the transferor is responsible, jointly with the transferee as the case may be, for the obligations and debts not yet due which originated prior to the transfer. 13.3. In the event of a change in the system operator, the Contract is transferred by XXXX to the company which, in its stead, is designated or will be designated by the competent authority, as system operator. The consent of the CAPACITY PROVIDER is not required for this; however, XXXX will make every effort to inform the CAPACITY PROVIDER of the planned transfer to the above-mentioned company as soon as possible and insofar as is possible, and to take account of the legal restrictions regarding insider information. Any other transfer of the Contract by XXXX is not allowed.

TRANSFER OF THE CONTRACT. 13.1. For all intents and purposes, it is specified that the transfer of the Contract under the terms of this Article must be distinguished from the transfer of obligations resulting from a transaction on the Secondary Market, in accordance with the terms of Chapter 10 of the Functioning Rules. 13.2. The Contract may not be transferred by the CAPACITY PROVIDER, either in whole or in part, without prior written permission from XXXX. Said Xxxx permission cannot be unreasonably refused or delayed. Said permission shall however be subject to compliance with the following conditions: o The transferee must be a CRM Candidate; o The transfer relates to all the Transactions associated with a CMU or Linked Capacities; o Proof is provided of compliance with all obligations due; o Subject to the hypothesis mentioned in the following point, the transferred CMU or, as the case may be, the transferred CMUs related to Linked Capacities is (are) covered by a Financial Security with the transferee (bank guarantee, parent company guarantee or cash payment) in accordance with the conditions described in the Functioning Rules; o If the transfer concerns an Existing CMU or, as multiple CMUs in the case of Linked Capacities and occurs within a Delivery Period, the transferor is responsible, jointly with the transferee as the case may be, for the obligations and debts not yet due which originated prior to the transfer. 13.3. In the event of a change in the system operator, the Contract is transferred by XXXX to the company which, in its stead, is designated or will be designated by the competent authority, as system operator. The consent of the CAPACITY PROVIDER is not required for this; however, XXXX will make every effort to inform the CAPACITY PROVIDER of the planned transfer to the above-mentioned company as soon as possible and insofar as is possible, and to take account of the legal restrictions regarding insider information. Any other transfer of the Contract by XXXX is not allowed.