Examples of Deeds of Novation in a sentence
Provided, however with respect to transfer of any of the said liabilities, wherever required, the Transferor Company and/or the Transferee Company shall enter into or execute necessary documents/deeds/instruments including but not limited to Deeds of Novation or Assignment, for the formal transfer of the said Liabilities to the Transferee.
Where the Council is novating (transferring) existing contracts to the Lot 3 partner, there will be Deeds of Novation to pass the contracts over to the Lot 3 partner.
The Seller shall procure that the Material Business Contracts and the Material Shared Contracts, in respect of which the Deed(s) of Novation/ Assignment and/ or amendment and restatement agreements, have not been executed in terms of Paragraph 4 of Part A of Schedule L (Seller Conditions Precedent), then such Deed(s) of Novation/ Assignment and/ or amendment and restatement agreements shall be executed within a period of 60 Business Days from the Closing Date.
The Lender hereby appoints Relendex to be its attorney in accordance with section 10 of the Powers of Attorney Act 1971 for the purpose of executing Deeds of Novation on its behalf in relation to the Lender's acquisition and saleof Loan Parts from time to time in accordance with the Lender Ts & Cs and each relevant Loan Facility Agreement.
Under the Deeds of Novation, BMC, BMV and BMT had agreed to assume, take over and discharge all the rights and obligations of the original buyers under the shipbuilding contracts dated 21 February 2007 (“Shipbuilding Contracts”), as if BMC, BMV and BMT were parties to the Shipbuilding Contracts in lieu of the original buyers.
From the GSLA, she obtained loans which enabled her buy a cow, renovate her house using iron sheets and buy vegetable seeds which she has used in her kitchen garden.
Where the Council is novating (transferring) existing contracts to the partner, there will be Deeds of Novation to pass the contracts over to the partner.
All the rights of the Original Buyers under or in relation to the Shipbuilding Contracts shall be assigned and transferred to, and enjoyed by Oriental Fleet International from the date on which the Deeds of Novation become effective, except that the rights, costs, obligations and liabilities of supervision and inspection under the Shipbuilding Contracts shall not be transferred to Oriental Fleet International but still be undertaken by the Original Buyers.
The Deed(s) of Novation/ Assignment specified in Clause 6.5.2(a)(i), and the relevant amendments/ agreements specified in Clause 6.5.2(a)(ii), executed between the Seller, the Purchaser and the relevant counterparties prior to the Closing Date, shall become effective from the Closing Date.
As detailed in the Deeds of Novation, the incoming party (TH DM Ltd) would assume all obligations of the outgoing party (TH FI Ltd) under the terms of the Development Agreement.