Common use of TRANSFER OF THE CONTRACT Clause in Contracts

TRANSFER OF THE CONTRACT. The Customer may transfer the Contract subject to the prior written consent of the Storage Facility Manager, who cannot refuse without reasonable grounds. Should the Customer breach this provision, the Storage Facility Manager may terminate the Contract ipso jure, with no advance notice or compensation. If the transfer of the Contract is approved by the Storage Facility Manager, it will only be valid as of the signing of a rider to the Contract and the transferee issuing the guarantees specified in article 14.1 of the General Terms and Conditions.

TRANSFER OF THE CONTRACT. The Customer may transfer the Contract subject to the prior written consent of the Storage Facility Manager, who cannot refuse without reasonable grounds. Should the Customer breach this provision, the Storage Facility Manager may terminate the Contract C ontract ipso jure, with no advance notice or compensation. If the transfer of the Contract is approved by the Storage Facility Manager, it will only be valid as of the signing of a rider to the Contract and the transferee issuing the guarantees specified in article 14.1 of the General Terms and Conditions.