Assignment by Transmission Owner Clause Samples
The "Assignment by Transmission Owner" clause defines the conditions under which the transmission owner may transfer its rights and obligations under the agreement to another party. Typically, this clause outlines whether the transmission owner needs prior written consent from the other party before assigning the contract, and may specify exceptions such as assignments to affiliates or in connection with a merger or sale of assets. Its core practical function is to ensure that all parties are aware of and agree to any changes in the responsible entity, thereby maintaining contractual stability and protecting the interests of both the transmission owner and the counterparty.
Assignment by Transmission Owner. Transmission Owner shall be entitled, subject to applicable laws and regulations, to assign this Upgrade CSA to an Affiliate or successor that owns and operates all or a substantial portion of Transmission Owner’s transmission facilities.
Assignment by Transmission Owner. Transmission Owner may assign this Upgrade CSA without the Transmission Provider’s or New Service Customer’s prior consent to any Affiliate or person that purchases or otherwise acquires, directly or indirectly, all or substantially all of the Transmission Owner’s assets provided that prior to the effective date of any such assignment, the assignee shall demonstrate that, as of the effective date of the assignment, the assignee has the technical competence and financial ability to comply with the requirements of this Upgrade CSA and assumes in a writing provided to the Transmission Provider and New Service Customer all rights, duties, and obligations of Transmission Owner arising under this Upgrade CSA. However, any assignment described herein shall not relieve or discharge the Transmission Owner from any of its obligations hereunder absent the written consent of the New Service Customer, such consent not to be unreasonably withheld, conditioned or delayed. Transmission Owner shall be entitled, subject to applicable laws and regulations, to assign this Upgrade CSA to an Affiliate or successor that owns and operates all or a substantial portion of Transmission Owner’s transmission facilities.
Assignment by Transmission Owner. Transmission Owner may assign this Upgrade CSA without the Transmission Provider’s or New Service Customer’s prior consent to any Affiliate or person that purchases or otherwise acquires, directly or indirectly, all or substantially all of the Transmission Owner’s assets provided that prior to the effective date of any such assignment, the assignee shall demonstrate that, as of the effective date of the assignment, the assignee has the technical competence and financial ability to comply with the requirements of this Upgrade CSA and assumes in a writing provided to the Transmission Provider and New Service Customer all rights, duties, and obligations of Transmission Owner arising under this Upgrade CSA. However, any assignment described herein shall not relieve or discharge the Transmission Owner from any of its obligations hereunder absent the written consent of the New Service Customer, such consent not to be unreasonably withheld, conditioned or delayed.
Assignment by Transmission Owner. Transmission Owner shall be entitled, subject to applicable laws and regulations, to assign this WMPA to an Affiliate or successor that owns and operates all or a substantial portion of Transmission Owner’s transmission facilities.