Types of assignment Sample Clauses

The 'Types of assignment' clause defines the various ways in which rights or obligations under a contract may be transferred from one party to another. It typically distinguishes between legal and equitable assignments, and may specify whether assignments require the consent of the other party or can be made freely. For example, it might allow the assignment of payment rights but restrict the transfer of performance obligations. This clause ensures clarity regarding the transferability of contractual interests, helping to prevent disputes and manage expectations between the parties.
Types of assignment. Three types of assignment of Storage Services are possible: a) assignment through OTC: (i) assignment with release of rights and obligations: this means that all rights and obligations (including all payment obligations) of the assigned Storage Services are transferred during the period of the assignment and that the assignee is liable in full for adhering to all obligations that are associated with the Storage Services being assigned. (ii) assignment without release of rights and obligations: this means that assignor and assignee both remain liable during the period of the assignment. In case the assignee fails to fulfil its obligations that relate to the assigned Storage Service(s), then the assignor shall be held jointly liable for adhering to these obligations. b) assignment through Secondary Market Platform with partial release: this means an assignment as described in a) (i) here-above except that (1) the assignor remains liable towards the Storage Operator for payment of all Service Fees to the Storage Operator and (2) the assignee shall become liable for all other obligations (amongst others Commodity Element and the Settlement Fees) linked to the relevant part and duration of the SCFA.
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Types of assignment. The Master Licensee acknowledges that the Licensor’s right to approve or disapprove a proposed sale or transfer provided for herein shall apply (a) if the Master Licensee is a partnership or other business association, to the addition or deletion of a partner or a member of the association or the transfer of any partnership or membership interest among existing partners or members; (b) if the Master Licensee is a corporation or company, to any proposed transfer or assignment of 25% or more of the stock or other ownership interest in the Master Licensee, whether such transfer occurs in a single transaction or several transactions; and (c) if the Master Licensee is an individual, to the transfer from such individual or individuals to a company controlled by him, her or them, in which case the Licensor’s approval will be conditioned on the continuing personal guarantee of the individual (or individuals) for the performance of obligations under this Agreement, and other reasonable conditions. With respect to a proposed transfer as described in subsection (c) of this section, the Licensor’s right of first refusal to purchase, as set forth above, shall not apply and the Licensor will waive any transfer fee chargeable to the Master Licensee for a transfer under these circumstances.
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Types of assignment. 19 12.5. Assignment by Franchisor................................... 20
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Types of assignment. The Master Franchisee acknowledges that the Franchisor's right to approve or disapprove of a proposed sale or transfer provided for herein shall only apply to any proposed transfer or assignment of % or more of the stock or other ownership interest in the Master Franchisee. With respect to a proposed transfer as described in this paragraph, the Franchisor's right of first refusal to purchase, as set forth above, shall not apply and the Franchisor will waive any transfer fee chargeable to the Master Franchisee for a transfer under these circumstances. As long as ▇▇▇▇ ▇▇▇▇▇▇ retains an ownership interest in the Master Franchisee, Franchisor approval shall not be required for transfers or proposed sales described in this section 12.
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Types of assignment. Three types of assignment of Storage Services are possible: a) assignment through OTC: Based on version approved by the ▇▇▇▇ on February 21st 2013 Applicable as of March 4th 2013 22 (i) assignment with release of rights and obligations: this means that all rights and obligations (including all payment obligations) of the assigned Storage Services are transferred during the period of the assignment and that the assignee is liable in full for adhering to all obligations that are associated with the Storage Services being assigned. (ii) assignment without release of rights and obligations: this means that assignor and assignee both remain liable during the period of the assignment. In case the assignee fails to fulfil its obligations that relate to the assigned Storage Service(s), then the assignor shall be held jointly liable for adhering to these obligations. b) assignment through Secondary Market Platform with partial release: this means an assignment as described in a) (i) here-above except that (1) the assignor remains liable towards the Storage Operator for payment of all Service Fees to the Storage Operator and (2) the assignee shall become liable for all other obligations (amongst others Commodity Element and the Settlement Fees) linked to the relevant part and duration of the SCFA.
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Types of assignment. The Master Franchisee acknowledges that the Franchisor's right to approve or disapprove a proposed sale or transfer provided for herein shall apply (1) if the Master Franchisee is a partnership or other business association, to the addition or deletion of a partner or a member of the association or the transfer of any partnership or membership interest among existing partners or members; (2) if the Master Franchisee is a corporation or company, to any proposed transfer or assignment of 25% or more of the stock or other ownership interest in the Master Franchisee, whether such transfer occurs in a single transaction or several transactions; and (3) if the Master Franchisee is an individual, to the transfer from such individual or individuals to a company controlled by him, her or them, in which case the Franchisor's approval will be conditioned on the continuing personal guarantee of the individual (or individuals) for the performance of obligations under this Agreement, and other reasonable conditions. With respect to a proposed transfer as described in subsection (3) of this section, the Franchisor's right of first refusal to purchase, as set forth above, shall not apply and the Franchisor will waive any transfer fee chargeable to the Master Franchisee for a transfer under these circumstances.
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Related to Types of assignment

  • DURATION OF ASSIGNMENT The scope of services of this Assignment shall be completed no later than August 31, 2023, unless terminated earlier as provided in Section 3.2 of the Agreement. The schedule is subject to adjustments for possible time extension; however, any extension of time must be approved by the TFC and shall require an amendment to Assignment No. 1.

  • Notification of Assignment Any assignment that is not undertaken in accordance with the provisions set forth above shall be null and void ab initio. A Party making any assignment shall promptly notify the other Party of such assignment, regardless of whether consent is required. This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective successors and permitted assigns.

  • Notice of Assignment Upon its receipt and acceptance of a duly executed and completed Assignment Agreement, any forms, certificates or other evidence required by this Agreement in connection therewith, Administrative Agent shall record the information contained in such Assignment Agreement in the Register, shall give prompt notice thereof to Company and shall maintain a copy of such Assignment Agreement.

  • Recordation of Assignments If any Custodial File includes one or more assignments to the Trustee of Mortgage Notes and related Mortgages that have not been recorded, each such assignment shall be delivered by the Custodian to the Seller for the purpose of recording it in the appropriate public office for real property records, and the Seller, at no expense to the Custodian, shall promptly cause to be recorded in the appropriate public office for real property records each such assignment and, upon receipt thereof from such public office, shall return each such assignment to the Custodian.

  • Conditions of Assignment If Tenant desires to assign or sublet all or any part of the Premises, it shall so notify Landlord at least thirty (30) days in advance of the date on which Tenant desires to make such assignment or sublease. Tenant shall provide Landlord with a copy of the proposed assignment or sublease and such information as Landlord might request concerning the proposed sublessee or assignee to allow Landlord to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within seven (7) business days after Landlord's receipt of Tenant's proposed assignment or sublease and all required information concerning the proposed sublease or assignee, Landlord shall have the following options: (1) consent to the proposed assignment or sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Tenant shall pay to Landlord one-half (1/2) of such excess rent and other excess consideration within ten (10) days following receipt thereof by Tenant; or (2) refuse, subject to the limitations set forth in Section 9.2 above, to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Landlord gives Tenant written notice providing otherwise. Landlord shall, upon Tenant's request, provide the reasons for any refusal. Upon the occurrence of an event of default, if all or any part of the Premises are then assigned or sublet, Landlord, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Tenant by reason of the assignment or sublease. Any collection directly by Landlord from the assignee or sublessee shall not be construed to constitute a novation or a release of Tenant or any guarantor from the further performance of its obligations under this Lease.