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{{ietaprov|16}} Assignment<br> | {{ietaprov|16}} Assignment<br> | ||
{{ietaprov|16.1}} Prohibition of Assignment. Subject to Clause {{ietaprov|16.2}} (Assignment of {{ietaprov|Termination Payment}}s), neither Party may assign or transfer to any person any of its rights or obligations in respect of this {{ietaprov|Agreement}} without the written consent of the other Party (which consent shall not be unreasonably withheld or delayed). For these purposes, it shall be unreasonable to withhold consent to an assignment or transfer of all, but not part only, of a Party’s rights and obligations in the case of an assignee or transferee that (a) is demonstrably capable of fulfilling the obligations of the assignor or transferor under this {{ietaprov|Agreement}}; (b) has a financial standing no worse than that of the assignor or transferor at the date such person becomes a party to this {{ietaprov|Agreement}} and as of the date it entered into the relevant Transactions; (c) is demonstrably capable of continuing to provide security and/or performance assurance at least equal to that provided (or required to be provided) by the assignor or transferor; (d) has its registered office in the same jurisdiction as that of the assignor or transferor; and (e) only if reasonably requested by the other Party, cooperates with and provides the necessary documentation to fulfill any know your customer or anti-money laundering requirements of the other Party.<br> | {{ietaprov|16.1}} Prohibition of Assignment. Subject to Clause {{ietaprov|16.2}} (Assignment of {{ietaprov|Termination Payment}}s), neither Party may assign or transfer to any person any of its rights or obligations in respect of this {{ietaprov|Agreement}} without the written consent of the other Party (which consent shall not be unreasonably withheld or delayed). For these purposes, it shall be unreasonable to withhold consent to an assignment or transfer of all, but not part only, of a Party’s rights and obligations in the case of an assignee or transferee that (a) is demonstrably capable of fulfilling the obligations of the assignor or transferor under this {{ietaprov|Agreement}}; (b) has a financial standing no worse than that of the assignor or transferor at the date such person becomes a party to this {{ietaprov|Agreement}} and as of the date it entered into the relevant Transactions; (c) is demonstrably capable of continuing to provide security and/or performance assurance at least equal to that provided (or required to be provided) by the assignor or transferor; (d) has its registered office in the same jurisdiction as that of the assignor or transferor; and (e) only if reasonably requested by the other Party, cooperates with and provides the necessary documentation to fulfill any know your customer or anti-money laundering requirements of the other Party.<br> |