Designated Assignment Sample Clauses

Designated Assignment. For a period from and including the Commencement Date to the Expiration Date (the “Designation Period”), the Company hereby assigns to X. Xxxx all of the Company’s rights to use, hold Crude Oil and Products in, and transport Crude Oil and Products through, the Storage Facilities pursuant to this Agreement, subject to additional terms and conditions of this Section 28. During the Designation Period, the Partnership Parties shall note in their records and account separately for X. Xxxx’x ownership of Crude Oil and Products held in or transported through the Pipelines and Storage Facilities (collectively, the “X. Xxxx Materials”) until such time as X. Xxxx shall notify the Partnership Parties in writing that ownership in such X. Xxxx Materials has been transferred from X. Xxxx to the Company, it being the intention that the Partnership Parties shall not be required to recognize any other transfers of ownership of any X. Xxxx Materials (other than transfers from X. Xxxx to the Company) unless such transfer and recognition are agreed to in writing by the Partnership Parties in their reasonable discretion. The Company shall act as X. Xxxx’x sole agent for all purposes of this Agreement, and the Partnership Parties shall be entitled to follow the Company’s instructions with respect to all X. Xxxx Materials that are transported, stored or handled by the Partnership Parties pursuant to this Agreement unless and until the Partnership Parties are notified by X. Xxxx in writing that the Company is no longer authorized to act as X. Xxxx’x agent, in which case the Partnership Parties shall thereafter follow the instructions of X. Xxxx (or such other agent as X. Xxxx may appoint) with respect to all X. Xxxx Materials that are transported, stored or handled by the Partnership Parties pursuant to this Agreement. All volumes shipped by X. Xxxx will be taken into account in the determination of whether the Company has satisfied its Minimum Throughput Commitment.
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Designated Assignment. For a period from and including the Effective Date to the Expiration Date (the “Designation Period”), Lion hereby assigns to X. Xxxx all of Lion’s rights to use, hold Materials in, and transport Materials through, the Tankage and the Terminal pursuant to this Agreement, subject to additional terms and conditions of this Section 22. During the Designation Period, Logistics shall note in their records and account separately for X. Xxxx’x ownership of Materials held in or transported through the Tankage and the Terminal (collectively, the “X. Xxxx Materials”) until such time as X. Xxxx shall notify Logistics in writing that ownership in such X. Xxxx Materials has been transferred from X. Xxxx to Lion, it being the intention that Logistics shall not be required to recognize any other transfers of ownership of any X. Xxxx Materials (other than transfers from X. Xxxx to Lion) unless such transfer and recognition are agreed to in writing by Logistics in its reasonable discretion. Lion shall act as X. Xxxx’x sole agent for all purposes of this Agreement, and Logistics shall be entitled to follow Lion’s instructions with respect to any X. Xxxx Materials that are transported, stored or handled by Logistics pursuant to this Agreement unless and until Logistics is notified by X. Xxxx in writing that Lion is no longer authorized to act as X. Xxxx’x agent, in which case Logistics’ shall thereafter follow the instructions of X. Xxxx (or such other agent as X. Xxxx may appoint) with respect to all X. Xxxx Materials that are transported, stored or handled by Logistics pursuant to this Agreement. All volumes shipped by X. Xxxx will be taken into account in the determination of whether Lion has satisfied its Minimum Throughput Commitment.
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Designated Assignment. Within twelve (12) months of the Effective Date, LICENSEE may, at LICENSEE’S option, assign the whole of this Agreement to NEWCO with notice as required by Section 10.1.1. However, such Designated Assignment shall be made without requiring the fee as described in Section 10.2.
Sample 1

Related to Designated Assignment

  • Permitted Assignment Subject to the provisions of Section 5.6, the Company shall have the right to assign this contract to its successors or assigns, and all covenants or agreements hereunder shall inure to the benefit of and be enforceable by or against its successors or assigns.

  • Permitted Assignments A Lender may assign to an Eligible Assignee any of its rights and obligations under the Loan Documents, as long as (a) each assignment is of a constant, and not a varying, percentage of the transferor Lender’s rights and obligations under the Loan Documents and, in the case of a partial assignment, is in a minimum principal amount of $5,000,000 (unless otherwise agreed by Agent in its discretion) and integral multiples of $1,000,000 in excess of that amount; (b) except in the case of an assignment in whole of a Lender’s rights and obligations, the aggregate amount of the Commitments retained by the transferor Lender is at least $5,000,000 (unless otherwise agreed by Agent in its discretion); and (c) the parties to each such assignment shall execute and deliver to Agent, for its acceptance and recording, an Assignment and Acceptance. Nothing herein shall limit the right of a Lender to pledge or assign any rights under the Loan Documents to (i) any Federal Reserve Bank or the United States Treasury as collateral security pursuant to Regulation A of the Board of Governors and any Operating Circular issued by such Federal Reserve Bank, or (ii) counterparties to swap agreements relating to any Loans; provided, however, that any payment by Borrowers to the assigning Lender in respect of any Obligations assigned as described in this sentence shall satisfy Borrowers’ obligations hereunder to the extent of such payment, and no such assignment shall release the assigning Lender from its obligations hereunder.

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