Novation definition

Novation means the process or the act of replacing the party in any agreement (including any sub-license in respect of the SFM Project), by another party such that the agreement transferred by the Novation process transfers all rights, duties and obligations from the original obligor to the transferee/ new obligor;

Novation has the meaning set forth in Section 2.1(a).

Novation shall, for the purposes of documents governed by German law, be construed as "Vertragsübernahme". "To novate" shall be interpreted accordingly; and

Examples of Novation in a sentence

• All clauses regarding Assignment are subject to FAR Clause 52.232-23, Assignment of Claims (JAN 1986) and FAR 42.12 Novation and Change-of-Name Agreements, and all clauses governing Assignment in the Manufacturer XXXX are hereby deemed to be deleted.

• On September 10, 2023, the Company, Blue Engine and Yxxxxxx entered into that Assignment, Amendment and Novation Agreement, pursuant to which Yxxxxxx, as the “Assignor”, Blue Engine, as the Assignee, agreed that Blue Engine assumes all of Assignor’s right, interests, obligations and liabilities in the Previous Securities Subscription Agreement ("Novated Securities Subscription Agreement") and the Company has consented and accepted Blue Engine as the Assignee.

• Telelanguage Inc hereby releases the State from the State’s undertakings, obligations, duties and liabilities with respect to Telelanguage Inc, under the Contract following the effective date of this Novation.

• Assignor: Assignee: COMPANY ONE COMPANY TWO __________________________________ ___________________________________ Name, Title Name, Title The Execution Page for an Assignment and Novation and Amending Agreement dated ________ among COMPANY ONE as Assignor, COMPANY TWO as Assignee and the Third Party THE COUNTERPART EXECUTION PAGE TO AN ASSIGNMENT AND NOVATION AGREEMENT DATED __________ AMONG COMPANY ONE, AS ASSIGNOR, COMPANY TWO, AS ASSIGNEE AND THIRD PARTY.

• When used in this Agreement, the following terms have the following meanings: (A) “Covered Items” means goods, services or intangible rights; (B) “Novation” means Novation, LLC; (C) “Provista Supplier Agreement” means an agreement between Provista (or one of its agents, such as Novation) and a Supplier, pursuant to which the Supplier makes Covered Items available for purchase by Provista customers; and (D) ”Supplier” means a vendor or distributor of Covered Items.

More Definitions of Novation

Novation means the act of a clearing corporation interposing itself between both parties of every trade, being the legal counterparty to both;

Novation means an agreement between the policyholder and two insurers whereby a contract with one insurer is replaced by a contract with the other, regardless of any language to the contrary in the policy or contract.

Novation means that the assumed claim or policy obligations became the direct obligations of the insolvent insurer through consent of the policyholder and that thereafter the ceding insurer or entity initially obligated under the claims or policies is released by the policyholder from performing its claim or policy obligations. Consent may be express or implied based upon the circumstances, notice provided and conduct of the parties.

Novation means that the assumed claim or policy

Novation means the act of one or more recognised clearing corporations interposing between the parties of every trade, so as to be a legal counterparty;

Novation has the meaning set forth in the Preamble.

Novation means a process through which the original obligation between a buyer and a seller is discharged through the substitution of the central counter-party as seller to the buyer and buyer to the seller, creating two new contracts;