Assignment by Payor Clause Samples
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Assignment by Payor. Payor may assign any legal or equitable interest in this Agreement, the Lands, the Leases or any portion or portions thereof; PROVIDED THAT, in the event that Payor assigns all or any portion of its interest as aforesaid, Payor will cause its assignees to assume and be bound by all of the terms and provisions of this Agreement insofar as the same relate to the interest so assigned AND PROVIDED FURTHER HOWEVER, Payor shall remain liable therefor until, the assignee assumes such obligations, Payor provides the Royalty Owner a notice of assignment executed by Payor and its assignee, with respect to such obligations and Payor pays the Royalty Owner all outstanding amounts plus accrued interest (if any) due and owing as at the date of receipt of the notice of the assignment.
Assignment by Payor. Any sale, transfer assignment or disposition of the Property or any portion thereof, as the case may be, by the Payor may be effected only in accordance with the terms of the Agreement.
Assignment by Payor. (a) The Payor may not transfer, sell, assign or otherwise dispose of all or any portion of its interest in the Concessions or the Area of Interest until the acquirer of such interest has delivered to the Royalty Holder, an agreement in which the acquirer agrees to be bound, as the Payor with respect to the acquired interest, by all of the terms and conditions of this Agreement;
(b) The Payor may assign, transfer or otherwise convey this Agreement in its entirety in connection with (and only in connection with) any assignment or conveyance of the Concessions and the Area of Interest, whether directly or indirectly, without the prior written consent of the Royalty Holder, but at all times in strict compliance with the provisions of Section 8.5(a).
(c) The Payor may, at any time and from time to time, transfer or otherwise convey all (but not less than all) of its rights and obligations under this Agreement in connection with the amalgamation, combination, merger, or similar transaction between the Payor and one or more of its Affiliates without the prior written consent of the Royalty Holder; provided, however, that no such transfer or conveyance shall be effective unless: (i) within a period of two Business Days after such transfer or conveyance, the Payor delivers to the Royalty Holder a certified copy of the instrument evidencing the amalgamation, combination, merger or similar transaction between the Payor and one or more of its Affiliates that results in a change in the ownership in the Concessions and the Area of Interest; and (ii) the transferee has executed and delivered to the Royalty Holder within a period of two Business Days after such transfer or conveyance an instrument pursuant to which the transferee agrees to be bound by the terms hereof and by all of the liabilities and obligations of the transferor hereunder in the same manner and to the same extent as though the transferee was an original party hereto.
Assignment by Payor. Upon any assignment, conveyance, termination or abandonment, as the case may be, by the Payor, the Payor shall have no further obligation to the Royalty Holder in respect thereof; provided that, in the case of assignment or conveyance, it shall be a condition of any assignment or conveyance that the assignee or transferee shall have agreed to assume the Payor's obligation to the Royalty Holder to pay the Royalty in respect of that portion of the Properties acquired by such assignee or transferee.
Assignment by Payor. Upon any assignment, conveyance, termination or abandonment of the Property or any portion thereof, as the case may be, by the Payor, the Payor shall have no further obligation to the Royalty Holder in respect of the Property or such portion, as the case may be; provided that, in the case of assignment or conveyance, it shall be a condition of any assignment or conveyance that the assignee or transferee shall have agreed to assume the Payor’s obligation to the Royalty Holder to pay the royalty in respect of that portion of the Property acquired by such assignee or transferee.
Assignment by Payor. The Payor may assign all or any portion of its interest in the Property provided such assignment shall not be effective as against the Royalty Holder until the assignee has delivered to the Royalty Holder a written and enforceable undertaking whereby such assignee agrees to be bound, to the extent of the interest assigned, by all of the terms and conditions of this Agreement.