Common use of Having Clause in Contracts

Having. a prior consent of the Awarding Authority, the Concessionaire has the right to transfer its rights and obligations under the Agreement only to its subdivision or another company, which is the Concessionaire’s subsidiary company, and to which the Concessionaire can make a direct influence. [if applicable, as defined in Article 5 of the Law on Companies of the Republic of Lithuania.] In this case, the Concessionaire shall submit in advance the same guarantee for the proper fulfilment of the taken over Obligations by the company, which takes over the rights and obligations under the Agreement. The entity, which took over the rights and obligations, shall submit the same guarantee of fulfilment of Obligations, as the Concessionaire. The guarantee of the fulfilment of Obligations, submitted by the Concessionaire, shall be returned, but he remains solidary liable for the proper fulfilment of the Agreement. After fulfilling of all these provisions, the entity, which took over the Concessionaire’s rights and obligations, continues to be considered as the Concessionaire in accordance with the interpretation of this Agreement.