Common use of Assignment Obligations Clause in Contracts

Assignment Obligations. Each party agrees that if it sells, demises, conveys, assigns or otherwise transfers (collectively, a “transfer”) its toll facility, or any part thereof, to another person or entity, such party shall, as a condition of such transfer, require its successors and assigns to assume and be bound by the terms and provisions of this Agreement.

Assignment Obligations. Each party agrees that if i f it sells, demises, conveys, assigns or otherwise transfers (collectively, a “transfer”“ transfer ” ) its toll facilityToll Road, or any part thereof, to another person or entity, such party shall, as a condition of such transfer, require its successors and assigns to assume and be bound by the terms and provisions of this Agreement.