THIS NOVATION AGREEMENT is made on the 1st day of January 2000
BETWEEN
(1) Customer 1 whose registered office is at C/o KPMG LLP, St James Square, Manchester, M2 6DS (hereafter referred to as “A”);
(2) Customer 2 whose registered office is Fordham Road, Newmarket, Suffolk, C88 7NR (hereafter referred to as “B”); and
(3) PACCAR FINANCIAL LIMITED (Company No. 4160861) whose registered office is at 9400 Garsington Road, Oxford Business Park, Oxford, OX4 2HW (hereafter referred to as “PFL”)
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WHEREAS Agreement No. 1111 place of “A”.
(1) This Novation Agreement is supplemented to the following Lease Agreement number(s) made between “A” and “PFL” (the “Agreement(s)”) Asset Registration No. AB12ABC
(2) “A” wishes to be released and discharged from the Agreement(s) and “PFL” has agreed to release and discharge “A” upon the terms of “B’s” undertaking to perform the Agreement(s) and to be bound by the terms of the Agreement(s) in
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It is agreed as follows:-
1. “B” hereby undertakes to perform the Agreement and to be bound by the terms of the Agreement(s) in every way as if “B” were a party to the Agreement in lieu of “A”. This undertaking is with effect from 1st January 2000.
2. “PFL” hereby releases and discharges “A” from all claims and demands arising in respect of the Agreement(s) after the above date and accepts the liability of B under the Agreement(s) in lieu of the liability of “A” and agrees to be bound by the terms of the Agreement(s) in every way as if “B” were named in the Agreement(s) as a party in place of “A”.
3. “A” agrees that the transfer of liability to “B” will not prejudice the rights of “PFL” to make claim or demand against “A” for any breach of contract
relative to the period prior to the above date that would result in financial loss to “PFL” but that is clearly not the responsibility of “B”.
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agreement(s).
4. A copy of the original finance contract(s) is attached for confirmation of terms and conditions and future liability appertaining to the above
5. This Agreement shall be governed by English law any dispute will be subject to the jurisdiction of the English Courts.
6. Discharge of liability from “A” does not come into effect until this document has been signed by both authorised representatives of “A” and “B” and an authorising signature has been applied by PACCAR Financial Limited
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Declaration by Parties “A” and “B”:
We the undersigned confirm that we have read and understood the terms and conditions governing transfer of liability in Clauses 1-6 above and that party “B” has been provided with terms and conditions relative to the finance agreement(s) together with a copy of the document schedule of rentals and an up to date list of administration charges that may be applied in the future by PACCAR Financial Limited.
SIGNED BY ……………………………………………… DATE ………………….
PRINT NAME: ……………………………………………. For and on behalf of Customer 1 “A”
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For and on behalf of Customer 2 “B”
SIGNED BY ……………………………………………… DATE ………………….
PRINT NAME: …………………………………………….
AUTHORISED BY ………………………………………………(SIGNATURE)
PRINT NAME: ………………………………………………. DATE ………………….
For and on behalf of PACCAR Financial Limited (“PFL”)
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