13 assignment 1301 this agreement shall be binding

13. ASSIGNMENT
13.01 This Agreement shall be binding upon and inure to the
benefit of and be enforceable by the Institution, the Client, and
respective successors permitted assigns and transferees of the
parties hereto, provided that the Client shall not assign or
transfer any of its rights or obligations under this Agreement
without the written consent of the Institution. The Institution
may assign all or any part of its rights or transfer all or any part
of its obligations and/or commitments under this Agreement to
any Institution, or other person. The Client shall not be liable for
the costs of the assignment and/or transfer of commitments
hereunder by the Institution. If the Institution assigns all or any
part of its rights or transfers all or any part of its obligations and
commitments as provided in this Clause, all relevant references
in this Agreement to the Institution shall thereafter be construed
as a reference to the Institution and/or its assignee(s) or
transferee(s) (as the case may be) to the extent of their
respective interests.
13.02 The Institution may disclose to a potential assignee or
transferee or to any other person who may propose entering into
contractual relations with the Institution in relation to this
Agreement such information about the Client as the Institution
shall consider appropriate.
14. FORCE MAJEURE
Any delays in or failure by a Party hereto in the performance hereunder if and
to the extent it is caused by the occurrences or circumstances beyond such
Party ’ s reasonable control, including but not limited to, acts of God, fire, strikes
or other labor disturbances, riots, civil commotion, war (declared or not)
sabotage, any other causes, similar to those herein specified which cannot be
controlled by such Party. The Party affected by such events shall promptly
inform the other Party of the occurrence of such events and shall furnish proof
of details of the occurrence and reasons for its non-performance of whole or
part of this Agreement. The parties shall consult each other to decide whether
to terminate this Agreement or to discharge part of the obligations of the
affected Party or extend its obligations on a best effort and on an arm ’ s length
basis.
15. GENERAL
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State Bank of Pakistan - The Central Bank
15.01 No failure or delay on the part of the Institution to
exercise any power, right or remedy under this Agreement shall
operate as a waiver thereof nor a partial exercise by the
Institution of any power, right or remedy preclude any other or
further exercise thereof or the exercise of any other power right
or remedy. The remedies provided in this Agreement are
cumulative and are not exclusive of any remedies provided by
law;
15.02 This Agreement represents the entire agreement and
understanding between the Parties in relation to the subject
matter and no amendment or modification to this Agreement will