Examples of Transferred Rights and Obligations in a sentence
It is the intent of LLANY and Reinsurer to effect a novation of both the Coinsurance Agreement and the Modco Agreement with respect to the Transferred Rights and Obligations but not the Retained Indemnification Obligations.
Company, Reinsurer, and LLANY agree that such assignment and assumption shall have the force and effect of creating a direct agreement between Company and LLANY with respect to the Transferred Rights and Obligations and that Reinsurer will remain directly liable to Company for the Retained Indemnification Obligations.
Furthermore, the parties acknowledge, that subject to obtaining the Authorizations from Clients if any, they hereby assume the obligations with respect to the Transferred Rights and Obligations, including without limitation with respect to the Custody Agreements, and the Labor Liability on the date of execution of this Agreement.
Transferor and Transferee each agree to execute and deliver such further instruments, agreements and assurances as may be reasonably requested by the others to evidence and provide for the transfer by Transferor and the assumption by Transferee of the Transferred Rights and Obligations.
U.S. Bank, as successor Agent, hereby accepts the appointment as Agent under this Agreement and the other Loan Documents, subject to all the conditions and provisions of this Agreement and the other Loan Documents, and in such capacity accepts and assumes all of the Transferred Rights and Obligations under this Agreement and the other Loan Documents and agrees to be bound by all the terms of this Agreement and the other Loan Documents, such acceptance and assumption to be effective as of the Closing Date.
As of the Effective Date, LLANY hereby assumes and agrees to pay, perform and discharge in full all of the Transferred Rights and Obligations of Reinsurer under the Covered Agreements and releases Reinsurer from any and all such liabilities and obligations thereunder so as to result in the substitution of LLANY for Reinsurer in Reinsurer's name, place and stead except with respect to the Retained Indemnification Obligations.
As of the Effective Date, Reinsurer hereby assigns and transfers to LLANY all of Reinsurer's right, title, and interest in and to, and delegates all its obligations and duties under, the Covered Agreements other than the Retained Indemnification Obligations which it will retain (the "Transferred Rights and Obligations").
Transferee hereby accepts the foregoing transfer and assumes all of the Transferred Rights and Obligations from and after the Effective Date.
The Parties agree that compensation for the purchase and sale of the Transferred Rights and Obligations and the Transferred Assets and as payment of the services described in clause Four item (e), shall amount to $850,000,000.00 (eight hundred fifty million Mexican pesos 00/100), (the “Purchase Price”).
Transferor hereby transfers and Transferee hereby assumes all of the Transferred Rights and Obligations from and after the Effective Date.