Template:Nutshell GMRA 16: Difference between revisions
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Amwelladmin (talk | contribs) Created page with "{{gmraprov|16}}. '''{{gmraprov|Non assignability; Termination}}''' <br> :(a) '''No assignment''': Neither party may assign, charge or otherwise deal with its rights or obligat..." |
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:(b) '''Assignment on default''': Notwithstanding {{gmraprov|16 (a)}} parties may assign, charge or otherwise deal with their interests in any sum payable to it upon an {{gmraprov|Event of Default}} under paragraph {{gmraprov|10(c)}} or {{gmraprov|10(f)}}. <br> | :(b) '''Assignment on default''': Notwithstanding {{gmraprov|16 (a)}} parties may assign, charge or otherwise deal with their interests in any sum payable to it upon an {{gmraprov|Event of Default}} under paragraph {{gmraprov|10(c)}} or {{gmraprov|10(f)}}. <br> | ||
:(c) '''Termination by notice''': Either party may terminate this {{gmraprov|Agreement}} upon written notice to the other. However, such termination will not affect outstanding {{gmraprov|Transaction}}s. <br> | :(c) '''Termination by notice''': Either party may terminate this {{gmraprov|Agreement}} upon written notice to the other. However, such termination will not affect outstanding {{gmraprov|Transaction}}s. <br> | ||
:(d) The parties’ remedies under this {{gmraprov|Agreement}} will survive its {{gmraprov|Termination}}. <br> | :(d) '''Remedies survive''': The parties’ remedies under this {{gmraprov|Agreement}} will survive its {{gmraprov|Termination}}. <br> | ||
:(e) If any new state joins the {{tag|European Union}} after 1 January 1999 that will not alter the terms of this {{gmraprov|Agreement}} or any {{gmraprov|Transaction}}, nor give rise to any unilateral termination or alteration rights that the parties did not already have. <br> | :(e) '''New EU member states''': If any new state joins the {{tag|European Union}} after 1 January 1999 that will not alter the terms of this {{gmraprov|Agreement}} or any {{gmraprov|Transaction}}, nor give rise to any unilateral termination or alteration rights that the parties did not already have. <br> | ||
Revision as of 10:22, 27 May 2022
16. Non assignability; Termination
- (a) No assignment: Neither party may assign, charge or otherwise deal with its rights or obligations under this Agreement without the other party’s prior written consent. This Agreement and any Transactions will bind and confer rights on the parties and their respective successors and assigns.
- (b) Assignment on default: Notwithstanding 16 (a) parties may assign, charge or otherwise deal with their interests in any sum payable to it upon an Event of Default under paragraph 10(c) or 10(f).
- (c) Termination by notice: Either party may terminate this Agreement upon written notice to the other. However, such termination will not affect outstanding Transactions.
- (d) Remedies survive: The parties’ remedies under this Agreement will survive its Termination.
- (e) New EU member states: If any new state joins the European Union after 1 January 1999 that will not alter the terms of this Agreement or any Transaction, nor give rise to any unilateral termination or alteration rights that the parties did not already have.