Common use of Assignment by Province Clause in Contracts

Assignment by Province. The Province shall, with notice to the Agent, assign or transfer its rights and obligations under this Agreement to any permitted assignee of its interest in the Project Agreement concurrently with the assignment of the Project Agreement to such assignee in accordance with Section 16.4 [Assignment by the Province] of the Project Agreement and, in circumstances where the Province is released from all of its obligations and liabilities under the Project Agreement pursuant to Section 16.5 [Release of the Province on Assignment] thereof, the Province shall at the same time be released from all of its obligations and liabilities under this Agreement.

Assignment by Province. ‌ The Province shall, with notice to the Agent, assign or transfer its rights and obligations under this Agreement to any permitted assignee of its interest in the Project Concession Agreement concurrently with the assignment of the Project Concession Agreement to such assignee in accordance with Section 16.4 [Assignment by the Province] of the Project Concession Agreement and, in circumstances where the Province is released from all of its obligations and liabilities under the Project Concession Agreement pursuant to Section 16.5 [Release of the Province on Assignment] thereof, the Province shall at the same time be released from all of its obligations and liabilities under this Agreement.Section