Common use of Rights of the Assignee Clause in Contracts

Rights of the Assignee. If the Assignee shall become entitled to exercise the remedies referred to in the Letter of Offer and the GSA, in addition to any other remedies permitted by contract, law or otherwise, the Assignee shall at any time thereafter have the right to enforce all rights and remedies of or in respect of the Assignor under the Lease Agreement and the other Assigned Rights and under the Cape Town Laws and any such right or remedy may be exercised separately from or in combination with any right or remedy the Assignee may have and shall be in addition to and not in substitution for any other rights and remedies to the Assignee. The Assignee shall not be bound to exercise such right or remedy or otherwise deal with all or any part of the Lease Agreement or the other Assigned Rights or otherwise realize any proceeds therefrom and shall not be responsible for any loss occasioned by any realization or other dealing with or other failure to realize or otherwise deal with all or any part of the Lease Agreement or the other Assigned Rights. To the extent permitted by law, the Assignor hereby expressly waives each and every formality prescribed by law in relation to any sale, transfer or delivery of the Assigned Rights.

Rights of the Assignee. If the Assignee shall become entitled to exercise the remedies referred to in the Letter of Offer and the GSA, in addition to any other remedies permitted by contract, law or otherwise, the Assignee shall at any time thereafter have the right to enforce all rights and remedies of or in respect of the Assignor under the Lease Agreement and the other Assigned Rights and under the Cape Town Laws and any such right or remedy may be exercised separately from or in combination with any right or remedy the Assignee may have and shall be in addition to and not in substitution for any other rights and remedies to the Assignee. The Assignee shall not be bound to exercise such right or remedy or otherwise deal with all or any part of the Lease Agreement or the other Assigned Rights or otherwise realize any proceeds therefrom and shall not be responsible for any loss occasioned by any realization or other dealing with or other failure to realize or otherwise deal with all or any part of the Lease Agreement or the other Assigned Rights. To the extent permitted by law, the Assignor hereby expressly waives each and every formality prescribed by law in relation to any sale, transfer or delivery of the Assigned Rights.