12.  ASSIGNMENT

Required Drafting

12.1.  No Party to this Agreement may assign or transfer any part of its rights or obligations under this Agreement, save as provided in paragraphs 12.2 to 12.4 (inclusive) below.

12.2.  Each of the Facility Agent and the Security Trustee may assign or transfer its rights and obligations under this Agreement to a successor facility agent or security trustee (as appropriate) in accordance with the Senior Financing Agreements without the consent of the Authority.

12.3.  Any Secured Finance Party may assign or transfer its rights under the Senior Financing Agreements in accordance with the terms of the Senior Financing Agreements.

12.4.  The Authority shall assign, novate or otherwise transfer its rights and/or obligations under this Agreement to any public body to which the Authority assigns, novates or otherwise transfers its rights and/or obligations under the Contract in accordance with Clause 81.1 (Restrictions on Transfer of this Agreement by the Authority) of the Contract.

12.5.  If paragraph 12.2 applies then the Authority shall enter into a direct agreement with the new facility agent or security trustee (as relevant) on substantially the same terms as this Agreement.