Boudin Assumption and Novation. Notwithstanding anything in any Transferable Creole Policy to the contrary, and effective as of the Assumption Time, Creole hereby transfers and assigns, and Boudin hereby assumes by novation, (x) so much of each Transferable Creole Policy as relates to MII or any MII Entity as an Insured thereunder; and (y) any and all obligations of Creole under any of the Existing Policies that arise from Insured MII Obligations. In connection with and implementation of such transfer, assignment, and novation:
Appears in 4 contracts
Samples: Novation and Assumption Agreement, Novation and Assumption Agreement (McDermott International Inc), Novation and Assumption Agreement (Babcock & Wilcox Co)
