Common use of Assignment and Assumption of Intangibles and Licenses and Permits Clause in Contracts

Assignment and Assumption of Intangibles and Licenses and Permits. Assignor hereby assigns, transfers and conveys to Assignee, to the extent assignable, all of Assignor’s right, title and interest in, to and under the Intangible Property and the Licenses and Permits effective as of the Closing Date. Assignee does hereby accept the foregoing assignment and does hereby assume, and agree to perform and be bound by, all of the covenants, conditions, obligations and liabilities of Assignor under the Intangible Property and the Licenses and Permits which accrue from and after the Closing Date.