Novation definition

Novation means the process or the act of replacing the party in any agreement (including any sub-license in respect of the SFM Project), by another party such that the agreement transferred by the Novation process transfers all rights, duties and obligations from the original obligor to the transferee/ new obligor;

Novation has the meaning set forth in Section 2.1(a).

Novation shall, for the purposes of documents governed by German law, be construed as "Vertragsübernahme". "To novate" shall be interpreted accordingly; and

Examples of Novation in a sentence

• Pursuant to the Deed of Assignment and Novation, Fuyou Pharmaceutical releases and discharges Xxxx Xx from all its obligations and liabilities under the share pledge agreement entered into by Xxxx Xx and Fuyou Pharmaceutical dated 15 August 2022 (the “Share Pledge Agreement”).

• The Ceding Company shall, at its own cost and expense, mail the Policyholder Notice to each relevant Policyholder and establish and maintain a toll-free telephone number to respond to inquiries from Policyholders and Producers related to the Novation.

• Any additional Books and Records created by the Ceding Company following such applicable Novation Date shall be transferred to the Assuming Company as soon as reasonably practicable, but no later than 15 Business Days, following their creation.

• NOVATION OF SUPPLEMENTAL DEED Furthermore, pursuant to the Deed of Assignment and Novation, Xxxx Xx agrees to assign and transfer all its right, title, benefit, interest, property, claim, demand, covenants, undertakings, obligations and liabilities in the Supplemental Deed to Riverton and Xxxxxxxx accepts such assignment and transfer, in consideration of the Consideration.

• Each of the parties hereto hereby acknowledges and agrees that the representations, warranties, covenants and agreements of the other party contained herein and in the CLA/CSA Novation Agreement constitute good, valuable and adequate consideration for the representations, warranties, covenants and agreements of such party contained herein and in the CLA/CSA Novation Agreement.

More Definitions of Novation

Novation means the act of a clearing corporation interposing itself between both parties of every trade, being the legal counterparty to both;

Novation means an agreement between the policyholder and two insurers whereby a contract with one insurer is replaced by a contract with the other, regardless of any language to the contrary in the policy or contract.

Novation means that the assumed claim or policy obligations became the direct obligations of the insolvent insurer through consent of the policyholder and that thereafter the ceding insurer or entity initially obligated under the claims or policies is released by the policyholder from performing its claim or policy obligations. Consent may be express or implied based upon the circumstances, notice provided and conduct of the parties.

Novation means that the assumed claim or policy

Novation means the act of one or more recognised clearing corporations interposing between the parties of every trade, so as to be a legal counterparty;

Novation has the meaning set forth in the Preamble.

Novation means a process through which the original obligation between a buyer and a seller is discharged through the substitution of the central counter-party as seller to the buyer and buyer to the seller, creating two new contracts;