Common use of Transfer of Functions Clause in Contracts

Transfer of Functions. (a) The Operator acknowledges that: (i) TfNSW may be reconstituted, renamed, dissolved, replaced or restructured and that some or all of the Powers, functions, assets, liabilities or responsibilities of TfNSW may be transferred to or vested in another entity; (ii) if TfNSW is reconstituted, renamed, dissolved, replaced or restructured or if some or all of TfNSW’s Powers, functions, assets, liabilities or responsibilities are transferred to or vested in another entity, references in the Transaction Documents to TfNSW must, subject to any facilitative legislation, be deemed to refer, as applicable, to that reconstituted, renamed, restructured or new entity to the extent that the entity has assumed or has had transferred to it or vested in it those Powers, functions, assets, liabilities or responsibilities; and (iii) TfNSW may, or may be required to (including as a result of changes to New South Wales Government policy or directions) acquire or dispose of, any property or assets forming part of TfNSW's assets at its absolute discretion. (b) The Operator acknowledges and agrees that it must, to the extent required by TfNSW and without limiting any facilitative legislation, negotiate in good faith any variations required to the Transaction Documents, or any replacement agreement or agreements for the Transaction Documents to give effect to TfNSW being reconstituted, renamed, dissolved, replaced or restructured. (c) The Operator shall be taken for all purposes to have consented to, and the Operator will have no Claim against TfNSW as a result of, any action, matter or circumstance referred to in, or contemplated by this Clause 1.10. (d) For the purposes of this Clause 1.10, 'another entity' means a Governmental Agency and may include a privately owned entity to whom Powers, functions, assets, liabilities or responsibilities are transferred pursuant to any Law.

Transfer of Functions. (a) The Operator Developer acknowledges that: (i) TfNSW the State may be reconstituted, renamed, dissolved, replaced or restructured and that some or all of the Powerspowers, functions, assets, liabilities or responsibilities of TfNSW the State may be transferred to or vested in another entity; (ii) if TfNSW the State is reconstituted, renamed, dissolved, replaced or restructured or if some or all of TfNSW’s Powersits powers, functions, assets, liabilities or responsibilities are transferred to or vested in another entity, references in the Transaction Project Documents to the State or TfNSW must, subject to any facilitative legislation, be deemed to refer, as applicable, to that reconstituted, renamed, restructured or new entity to the extent that the entity has assumed or has had transferred to it or vested in it those Powerspowers, functions, assets, liabilities or responsibilities; and (iii) TfNSW the State may, or may be required to (including as a result of changes to New South Wales Government policy or directions) acquire or dispose of, any property or assets forming part of TfNSW's the State’s assets at its absolute discretiondiscretion but agrees not to assign this deed to, or dispose of the Leasehold Land to, an entity which is not a Public Authority, a State Owned Corporation or any other entity owned or controlled by the New South Wales government. (b) The Operator Developer acknowledges and agrees that it must, to the extent required by TfNSW the State and without limiting any facilitative legislation, negotiate in good faith any variations required to the Transaction Project Documents, or any replacement agreement or agreements for the Transaction Project Documents to give effect to TfNSW the State being reconstituted, renamed, dissolved, replaced or restructured. (c) The Operator Developer shall be taken for all purposes to have consented to, and the Operator Developer will have no Claim against TfNSW the State as a result of, any action, matter or circumstance referred to in, or contemplated by by, this Clause 1.10clause. (d) For the purposes of this Clause 1.10clause, ‘another entity’ and 'another reconstituted, renamed, restructured or new entity' means a Governmental Agency Public Authority and may include a privately State Owned Corporation or any other entity owned entity or controlled by the New South Wales government to whom Powerspowers, functions, assets, liabilities or responsibilities are transferred pursuant to any Law.

Transfer of Functions. (a) The Operator acknowledges that: (i) TfNSW may be reconstituted, renamed, dissolved, replaced or restructured and that some or all of the Powers, functions, assets, liabilities or responsibilities of TfNSW may be transferred to or vested in another entity; (ii) if TfNSW is reconstituted, renamed, dissolved, replaced or restructured or if some or all of TfNSW’s Powers, functions, assets, liabilities or responsibilities are transferred to or vested in another entity, references in the Transaction Documents this Agreement to TfNSW must, subject to any facilitative legislation, be deemed to refer, as applicable, to that reconstituted, renamed, restructured or new entity to the extent that the entity has assumed or has had transferred to it or vested in it those Powers, functions, assets, liabilities or responsibilities; and (iii) TfNSW may, or may be required to (including as a result of changes to New South Wales Government policy or directions) acquire or dispose of, any property or assets forming part of TfNSW's assets at its absolute discretion. (b) The Operator acknowledges and agrees that it must, to the extent required by TfNSW and without limiting any facilitative legislation, negotiate in good faith any variations required to the Transaction Documentsthis Agreement, or any replacement agreement or agreements for the Transaction Documents this Agreement to give effect to TfNSW being reconstituted, renamed, dissolved, replaced or restructured. (c) The Operator shall be taken for all purposes to have consented to, and the Operator will have no Claim against TfNSW as a result of, any action, matter or circumstance referred to in, or contemplated by this Clause 1.10clause 1.15. (d) For the purposes of this Clause 1.10clause 1.15, 'another entity' means a Governmental Agency and may include a privately owned entity to whom Powers, functions, assets, liabilities or responsibilities are transferred pursuant to any Law.