An Assignment and Assumption Agreement regarding a National Pollution Discharge and Elimination System (NODES) Permit is a legal document that outlines the transfer of responsibilities and rights from one party to another in regard to the permit. This agreement is used to assign the rights to discharge from an NODES permit from one party to another, or to assign the responsibility for compliance with the permit requirements from one party to another. There are two main types of Assignment and Assumption Agreement regarding a National Pollution Discharge and Elimination System Permit: 1. Assignment and Assumption of Permit — In this agreement, one party (the assignor) assigns their rights and responsibilities for the NODES permit to another party (the assignee). The assignee assumes the assignor's responsibilities and rights for the permit, and the assignor is released from all liability regarding the permit. 2. Assumption of Obligations Agreement — In this agreement, one party (the obligor) assumes the responsibilities and rights of another party (the assignor) for the NODES permit. The obliged is then obligated to comply with the terms of the permit and is released from all liability related to the permit. Both types of Assignment and Assumption Agreement regarding a National Pollution Discharge and Elimination System Permit must be executed in writing and executed by all parties involved in the agreement in order for it to be legally binding.
An Assignment and Assumption Agreement regarding a National Pollution Discharge and Elimination System (NODES) Permit is a legal document that outlines the transfer of responsibilities and rights from one party to another in regard to the permit. This agreement is used to assign the rights to discharge from an NODES permit from one party to another, or to assign the responsibility for compliance with the permit requirements from one party to another. There are two main types of Assignment and Assumption Agreement regarding a National Pollution Discharge and Elimination System Permit: 1. Assignment and Assumption of Permit — In this agreement, one party (the assignor) assigns their rights and responsibilities for the NODES permit to another party (the assignee). The assignee assumes the assignor's responsibilities and rights for the permit, and the assignor is released from all liability regarding the permit. 2. Assumption of Obligations Agreement — In this agreement, one party (the obligor) assumes the responsibilities and rights of another party (the assignor) for the NODES permit. The obliged is then obligated to comply with the terms of the permit and is released from all liability related to the permit. Both types of Assignment and Assumption Agreement regarding a National Pollution Discharge and Elimination System Permit must be executed in writing and executed by all parties involved in the agreement in order for it to be legally binding.
