Assignment Option definition

Assignment Option. IDT may request BP to assign to one or more Creditworthy Assignees (as defined below) any of BP’s positions under Credit-Enabled Transactions or Direct Transactions on price, terms and conditions acceptable to BP. Table of Contents (i) In connection therewith BP shall be responsible for effecting the assignment of transactions, so long as a Creditworthy Assignee is available to take assignment and assume all obligations under the assigned transactions going forward. (ii) Either the Creditworthy Assignee or IDT must accept all responsibility in respect of the position with the ISO or RTO. (iii) As used herein, “Creditworthy Assignee” shall mean a counterpart(ies) whose long-term unsecured debt is rated at least “A” by Moody’s or “A” by S&P and the ability to perform on the applicable assigned transactions.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Assignment Option means the option specified in Section 2.3.

Assignment Option is defined in

Examples of Assignment Option in a sentence

• The following definitions apply to Orders entered pursuant to these terms: Assignment Option.

• Notwithstanding the foregoing, this Agreement shall automatically terminate upon the exercise of the WREAS II Assignment Option (as defined in the Transition Services Agreement).

• Except as expressly permitted below, the availability of this Assignment Option shall have no effect on Partner’s obligation described in Section 3.1 to pay the Fees owing to NetApp with respect to such ▇▇▇▇▇ Services.

• Assignment Option Agreement to be entered into by the Lessor, the Agent and the Investor on the same date with this Agreement concerning the Equipment together with each individual agreement thereunder.

• Written Consent Lessee’s written consent in the prescribed form to the assignment of receivables under the Receivables Security Assignment Agreement and the creation of the security assignment option under the Equipment Security Assignment Option Agreement.

• Related Agreements This Agreement, the Purchase Agreement, the Tokumei Kumiai Agreement, the Loan Agreement, the Receivables Security Assignment Agreement, the Equipment Security Assignment Option Agreement, the Administration Agreement, Written Consent and the agreements and other documents related thereto.

• The following provisions shall survive expiration or termination of this Agreement for any reason: (i) any Party’s obligations to make payments required hereunder that have accrued before the effective date of termination; (ii) any cause of action or claim of either Party resulting from any breach or default of the other Party before the effective date of termination; and (iii) Sections 1, 2.5 – 2.6, 4.3 – 4.5, 5 – 6 (if the Assignment Option is exercised), 8.7, 8.8, 9 and 10.

• The provisions of this Section 2.6 shall expire upon Company exercising the Assignment Option.

• HP may terminate this Agreement upon notice to Company in the event Company failed to exercise the Assignment Option by the Closing Date.

• Within 30 days after the end of each calendar quarter after the exercise of the Assignment Option, Company will make a written report of proceeds (the “Royalty Report”) due under Section 4.2.2 for the preceding calendar quarter.

More Definitions of Assignment Option

Assignment Option is available to Partner where an End User refuses or otherwise fails to pay to Partner amounts owing for the Subscription Services under a Keystone Order, and such nonpayment continues uncured for more than ninety (90) days after the due date. Except as expressly permitted below, the availability of this Assignment Option shall have no effect on Partner’s obligation (as described in Section 3.1) to pay the Partner Fees owing to NetApp with respect to such Subscription Services.

Assignment Option. IDT may request BP to assign to one or more Creditworthy Assignees (as defined below) any of BP’s positions under Credit-Enabled Transactions or Direct Transactions on price, terms and conditions acceptable to BP. Table of Contents CONFIDENTIAL PORTIONS HAVE BEEN OMITTED FROM THIS DOCUMENT BASED UPON A REQUEST FOR CONFIDENTIAL TREATMENT PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934 AND HAVE BEEN SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION. THE LOCATION OF OMITTED TEXT IS INDICATED BY AN ASTERISK (*) (i) In connection therewith BP shall be responsible for effecting the assignment of transactions, so long as a Creditworthy Assignee is available to take assignment and assume all obligations under the assigned transactions going forward. (ii) Either the Creditworthy Assignee or IDT must accept all responsibility in respect of the position with the ISO or RTO. (iii) As used herein, “Creditworthy Assignee” shall mean a counterpart(ies) whose long-term unsecured debt is rated at least “A” by Moody’s or “A” by S&P and the ability to perform on the applicable assigned transactions.

Assignment Option shall have the meaning provided for in Exhibit B Section 5.01(a).

Assignment Option means the option by Company to purchase the Assignable Patents, which Company will have exercised if it pays the amount and within the timeframe contemplated in Section 4.2.1.

Assignment Option has the meaning set out in Article 3.1.