Deed Of Novation (Page 3 of 6) in pdf

2.3

On and from the Effective Date, and subject to the terms of this Deed, YYYYYY

is bound by, and must fulfil, comply with and observe all the provisions of the

Principal Agreement and enjoys all the rights and benefits of XXXX under or in

respect of the Principle Agreement.

2.4

As and from the Effective Date, XXXX releases and discharges the

Commonwealth from any liabilities, claims and demands which YYYYYY may

have or have had against the Commonwealth under the Principle Agreement.

INDEMNITY

3.1.

YYYYYY

indemnifies and holds harmless the Commonwealth from all loss,

damage, cost or expenses (including legal costs and the cost of settling any

action) arising from any act, omission, or default of XXXX (whether based in

negligence or any other form of legal liability) in performance of the Principal

Agreement prior to the Effective Date.

RELEASE

4.1.

On and from the Effective Date the Commonwealth releases and discharges

XXXX from any and all claims, actions, proceedings, obligations and liabilities

(whether based in negligence or any other form of legal liability) which the

Commonwealth has against XXXX prior to the Effective Date.

FURTHER ASSURANCES

5.1.

Each party shall take such steps, execute all such documents, and do all such

acts and things as may be reasonably required by the other party to give effect to

any of the transactions contemplated by this Deed.

NOTICES

6.1

Any notice required to be given under this Deed shall be:

in writing addressed to the address of the intended recipient

shown in this Deed or such other address as have been most

recently notified by the intended recipient to the party giving the

notice; and

signed by the party or by a person duly authorised by the party.

6.2

Any notice given to a person in accordance with this Clause 6 is

treated as having been given and received:

if delivered, on the day of delivery;

by prepaid post, in three (3) Working Days if sent within

Australia and within eight (8) Working Days if sent by air mail

from one country to another country; or

by facsimile at the time recorded by the transmitting machine,

unless within one (1) Working Day the Sender is informed that

the transmission was received incomplete or in garbled form, in

which case a retransmitted notice or other communication shall

be received when it is effectively delivered in accordance this

clause 6.

6.3

For the purposes of this clause 6, a party may take the address and

facsimile number of another party to be:

Deed Of Novation Page 3

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