Novatee definition

Novatee means the person named as the third party above.
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Novatee any Person subject to the Sub-Contractor’s consent, such consent not to be withheld other than where it is not reasonably likely that the Person will have sufficient resources available to it in order to be able to meet its obligations under the Sub-Contract as and when they fall due;
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Novatee means the Authority or Nominee, as the case may be, to whom the Credit Providers transfer all their rights and liabilities in accordance with Clause [●];
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Examples of Novatee in a sentence

  • As from and including the date of this Deed, Ma'aden accepts, in place of that performance and those liabilities, claims and demands, the undertaking of the Novatee set out in clause 2.3.

  • No later than seven (7) days after the Effective Date, Contractor, Novatee and Operator shall execute and deliver the Deed of Novation, to be effective as of the date of the Rig’s arrival in the Area of Operations, assigning and transferring specified Contractor’s rights, obligations and liabilities under this Drilling Contract in respect of the Work to be performed in the Area of Operations to Novatee.

  • Contractor shall obtain and maintain, and cause Novatee to obtain and maintain, any permits, approvals and authorizations from Governmental Authorities necessary or desirable to import the Rig into, and export the Rig out of, the Area of Operations and to move and operate the Rig within the Area of Operations which are to be obtained by Contractor in its name and by Novatee in its name under applicable laws, rules and regulations.

  • Such novation shall be subject to execution of proper documents (Document of Deed of Adherence, etc.) by the proposed Novatee.


More Definitions of Novatee

Novatee has the meaning given in the recitals to this Drilling Contract.
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