Effect of Assumption. 5.3.1 For purposes of carrying out the responsibilities assumed under this MOU, and subject to the limitations contained in 23 U.S.C. 327 and this MOU, DOT&PF shall be deemed to be acting as FHWA with respect to the environmental review, consultation, and other related actions required under those responsibilities.
Effect of Assumption. Upon the satisfaction of all requirements for the novation and assumption of a Reinsured Policy, the Ceding Company shall be deemed to have assigned and transferred all of its rights relating to such Novated Contract as of the Assumption Date and the Reinsurer shall be deemed to have assumed and accepted all of the risks, liabilities and obligations under or arising out of the applicable Novated Contract, whether arising prior, on or subsequent to the applicable Assumption Date. The Reinsurer hereby agrees that it shall be directly and solely liable for such risks, liabilities and obligations. On each Assumption Date, the Reinsurer shall assume all risks, liabilities and obligations under or arising out of the applicable Novated Contract such that the Reinsurer shall be considered and deemed the original party in lieu of the Ceding Company, from the inception date of the applicable Reinsured Policy. The Novated Contracts shall continue and remain in full force and effect, except as modified by the Notice and Certificate of Assumption. For the avoidance of doubt, a Novated Contract shall not constitute the creation of a new contract or the termination of the applicable Reinsured Policy; rather, such Novated Contract shall be considered and deemed a continuation of the existing contract as if the Reinsurer were the original party in lieu of the Ceding Company. Notwithstanding the foregoing, it is understood and agreed that such assignment, transfer and assumption shall not affect any indemnification rights of the parties pursuant to Article IX, or any other indemnification or right to recovery provided to a party under any other agreement. Promptly after assumption by the Reinsurer of any Novated Contracts, the Ceding Company shall deliver original books and records that relate to such Novated Contracts to the Reinsurer to the extent required by applicable Law. Upon the assumption by the Reinsurer of any Novated Contract of if any Reinsured Policy is otherwise renewed, replaced or otherwise transitioned to a policy issued by the Reinsurer or its Affiliates on their respective policy forms, (a) the Required Balance shall be adjusted in the next succeeding report to be delivered by the Reinsurer under Section 5.7 to reflect the removal of such Reinsured Policy, and the portion of the assets held in the Trust Account relating to such Novated Contract or former Reinsured Policy shall be released from the Trust Account and transferred to the Reinsurer and (ii) if...
Effect of Assumption. 5.3.1 For purposes of carrying out the responsibilities assumed under this MOU, and subject to the limitations contained in 23 U.S.C. 327 and this MOU, Caltrans shall be deemed to be acting as the FHWA with respect to the environmental review, consultation, and other actions required under those responsibilities.
Effect of Assumption. Upon the satisfaction of all requirements for the novation and assumption of a Targeted Policy, the Ceding Company shall be deemed to have assigned and transferred all of its rights relating to such Novated Contract as of the assumption date and the Reinsurer shall be deemed to have assumed and accepted all of the Reinsured Liabilities under or arising out of the applicable Novated Contract. The Reinsurer hereby agrees that it shall be directly and solely liable for such Reinsured Liabilities. As of each assumption date, the Reinsurer shall assume all Reinsured Liabilities under or arising out of the applicable Novated Contract such that the Reinsurer shall be considered and deemed the original party in lieu of the Ceding Company in respect of such Reinsured Liabilities. For the avoidance of doubt, a Novated Contract shall not constitute the creation of a new contract or the termination of the applicable Reinsured Contract; rather such Novated Contract shall be considered and deemed a continuation of the existing contract as if the Reinsurer were the original party thereto in lieu of the Ceding Company in respect of the Reinsured Liabilities under or arising out of the applicable Reinsured Contract. It is understood and agreed that such assignment, transfer and assumption shall not affect any indemnification rights of the parties pursuant to Article VIII, or any other indemnification or right to recovery provided to a party under any other agreement. LICENSES;
Effect of Assumption. Upon the Assumption (as defined in the Guarantee), automatically and without any further action by any party hereto, all provisions in this Agreement relating to the SHSE Clearance or the Parent Shareholder Approval (including, without limitation, the Parent Board Resolutions and the Parent Shareholder Meeting) shall be deemed deleted in their entirety. [The remainder of this page has been intentionally left blank; the next page is the signature page.]
Effect of Assumption. Nothing in this Assumption Agreement shall, or shall be deemed to modify or otherwise affect any provisions of the Asset Purchase Agreement or affect the rights of the parties under the Asset Purchase Agreement. In the event of any conflict between the provisions hereof and the provisions of the Asset Purchase Agreement, the provisions of the Asset Purchase Agreement shall govern and control.
Effect of Assumption. 5.3.1 For purposes of carrying out the responsibilities assumed under this MOU, and subject to the limitations contained in 23 U.S.C. 327 and this MOU, ODOT shall be deemed to be acting as FHWA with respect to the environmental review, consultation, and other action required under those responsibilities. 5.4 Other Federal Agencies 5.4.1 As provided at 23 U.S.C. 327(a)(2)(E), nothing in this MOU preempts or interferes with any power, jurisdiction, responsibility, or authority of an agency other than the USDOT (including FHWA), under applicable statutes and regulations with respect to a project.
Effect of Assumption. 5.3.1 For purposes of carrying out the responsibilities assumed under this MOU, and subject to the limitations contained in 23 U.S.C. 327 and this MOU, TxDOT shall be deemed to be acting as FHWA or the USDOT Secretary, as applicable, with respect to the environmental review, consultation, and other action required under those responsibilities.
Effect of Assumption. From and after the Effective Time of the Merger, -------------------- GB Bancorp shall succeed to, and be substituted for, and may exercise every right and power of, Cupertino under the Debenture Agreement with the same effect as if GB Bancorp had been originally named in the place and stead of Cupertino in the Debenture Agreement, and the Debenture holders shall look solely and exclusively to GB Bancorp for the performance and discharge of the obligations of Cupertino under the Debenture Agreement and the Debentures.
Effect of Assumption. No actions or proceedings pending on the Effective Date or any subsequent actions or proceedings arising from the liabilities and assets owned by PartnerRe NY prior to the Effective Date to which PartnerRe NY may be a party, shall be abated or discontinued by reason of the Transfer and Assumption contemplated by this Agreement, but the same may be prosecuted to final judgment in the same manner as if the Transfer and Assumption contemplated by this Agreement had not taken place, or PartnerRe US may be substituted in place of PartnerRe NY by order of the court in which the action or proceeding may be pending. All liabilities and obligations of every nature and description of PartnerRe NY at the time of the Transfer and Assumption contemplated by this Agreement shall attach to and be assumed by PartnerRe US and may be enforced against PartnerRe US to the same extent as if such liabilities and obligations had been originally incurred or contracted by PartnerRe US.
