CT2015-140 Agreement with CWRPDA

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• ARTICLE IV. ASSIGNMENT SECTION 4.01. Assignment and Transfer by Authority. The Governmental Agency expressly acknowledges that, other than the right, title, and interest of the Authority under Section 3.05 and Section 5.04, all right, title, and interest of the Authority in, to, and under this Loan Agreement and the Governmental Agency Bond, including, without limitation, the right to receive payments required to be made by the Governmental Agency hereunder and to compel or otherwise enforce observance and performance by the Governmental Agency of all of its other duties, covenants, obligations, and agreements hereunder, may be transferred, assigned, and reassigned in whole or in part by the Authority at its sole discretion to one or more assignees or subassignees at any time subsequent to their execution without the necessity of obtaining the consent of, but after giving prior written notice to,the Governmental Agency. The Authority shall retain the right to compel or otherwise enforce observance and performance by the Governmental Agency of its duties, covenants, obligations, and agreements under Section 2.02, Section 3.05, and Section 5.04. SECTION 4.02. Assignment by Governmental Agency. Neither this Loan Agreement nor the Governmental Agency Bond may be assigned by the Governmental Agency for any reason, unless the following conditions shall be satisfied: (i) the Authority shall have approved said assignment in writing; (ii) the assignee shall have expressly assumed in writing the full and faithful observance and performance of the Governmental Agency's duties, covenants, agreements, and obligations under the Loan Agreement; and (iii) immediately after such assignment, the assignee shall not be in default in the performance or observance of any duties, covenants, obligations, or agreements of the Governmental Agency under the Loan Agreement. No assignment shall relieve the Governmental Agency from primary liability for any and all of its obligations under this Loan Agreement, and in the event of such assignment, the Governmental Agency shall continue to remain primarily liable for the performance and observance of its obligations to be performed and observed under this Loan Agreement. ARTICLE V DEFAULTS AND REMEDIES SECTION 5.01. Event of Default. If any of the following events occur, it is hereby defined as and declared to be and to constitute an"Event of Default": 17