Common use of Partial Transfers Clause in Contracts

Partial Transfers. (a) If the transferring Party transfers less than all of its interests under this Agreement, the transferring Party and its transferee shall act and be treated as one Party and, for such transfer to be effective, the transferring Party must first deliver to the other Party the agreement in writing of the transferring Party and its transferee in favor of the other Party in which: (i) as between the transferring Party and the transferee, the one of them who is authorized to act as the sole agent (in this section the “Agent”) on behalf of both of them with respect to all matters pertaining to this Agreement is designated; and (ii) the transferring Party and its transferee agree between each other and jointly represent and warrant to other Party that: (1) the Agent has the sole authority to act on behalf of, and to bind, the transferring Party and its transferee with respect to all matters pertaining to this Agreement; (2) the other Party may rely on all decisions of, notices and other communications from, and failures to respond by, the Agent, as if given (or not given) by both the transferring Party and its transferee; and (3) all decisions of. notices and other communications from, and failures to respond by, the other Party to the Agent shall be deemed to have been given (or not given) concurrently to the transferring Party and its transferee.

Partial Transfers. (a) If the transferring Transferring Party transfers Transfers less than all of its interests entire interest in the Property and under this Agreement, the transferring Transferring Party and its transferee shall act and be treated as one Party and, for such transfer Transfer to be effective, the transferring Transferring Party must first deliver to the other Party the agreement in writing of the transferring Transferring Party and its transferee in favor favour of the other Party in which: (ia) as between the transferring Transferring Party and the transferee, the one of them who is authorized to act as the sole agent (in this section the “"Agent”") on behalf of both of them with respect to all matters pertaining to this Agreement is designated; and; (iib) the transferring Transferring Party and its transferee agree between each other and jointly represent and warrant to other Party that: (1i) the Agent has the sole authority to act on behalf of, and to bind, the transferring Transferring Party and its transferee with respect to all matters pertaining to this Agreement; (2ii) the other Party may rely on all decisions of, notices and other communications from, and failures to respond by, the Agent, as if given (or not given) by both the transferring Transferring Party and its transferee; and (3iii) all decisions of. , notices and other communications from, and failures to respond by, the other Party to the Agent shall be deemed to have been given (or not given) concurrently to the transferring Transferring Party and its transferee.