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terms of this Amended and Restated Agreement. Any Party may file a <br />statement of opposition to ensure consistency herewith. <br />IV. SLTCCESSORS AND ASSIGNS <br />A. Rights to Create Security Interest. This Amended and Restated Agreement is <br />binding on and shall inure to the benefit of the Parties and their respective <br />permitted successors, assigns and legal representatives. Each Party shall have the <br />right at any time to mortgage, create or provide for a security interest in, or <br />convey in trust all or part of its interest in this Amended and Restated Agreement <br />or in the lands, structures or Storage Water Rights owned by such Party in <br />connection with the Reservoir Enlargement, under deeds of trust, mortgages, <br />indentures or security agreements, as security for its present or future bonds or <br />obligations or securities, without the consent of the other Parties. With respect to <br />the rights set forth in this section IV. A and B, the reference to Party or Parties <br />shall extend to each of the individual Yampa Participants. <br />B. Right to Assign Interests in Merger, Acquisition, or Subsidiary, etc. Any <br />individual Y ampa Participant, without the consent of the other Parties, may assign <br />its rights and obligations under this Amended and Restated Agreement to any <br />person or entity: (i) into which a Yampa Participant is merged or consolidated, <br />(ii) to which a Yampa Participant sells, transfers or assigns all or substantially all <br />of its Yampa Project assets, (iii) that is a wholly owned subsidiary or enterprise of <br />a Yampa Participant, (iv) that owns all of the outstanding stock of a Yampa <br />Participant, or (v} whose common stock is wholly owned by an entity that also <br />o~~•ns all of the outstanding stock of a Yampa Participant, so long as the survivor <br />in any such merger or consolidation, or the purchaser, transferee or assignee of <br />such assets provides to the non-assigning Parties a valid and binding written <br />agreement expressly assuming and agreeing to be bound by all obligations of the <br />assigning Yampa Participant under this Amended and Restated Agreement <br />C. The River District or Craig may assign their rights and delegate their duties <br />hereunder to their general or capital fund entities or any separate entity created by <br />the River District and/or Craig, provided that the River District or Craig <br />enterprises shall remain responsible for the obligations that they delegate to any <br />such entity. In the event of an assignment and delegation by either the River <br />District or Craig to any governmental entity that is not an "enterprise" under <br />Article X Section 20 of the Colorado Constitution, the financial obligations of <br />such assignee shall be subject to annual appropriation and budgeting of funds in <br />accordance with Colorado law. In the event of such an assignment and delegation, <br />if the assignee fails to appropriate or otherwise budget funds and make payments <br />as required by this Amended and Restated Agreement, the River District or Craig <br />respectively agrees to make such payment of financial obligations on behalf of <br />their said assignee. <br />9 <br />