Common use of Assignment and Parties in Interest Clause in Contracts

Assignment and Parties in Interest. This Agreement shall inure to the benefit of and be binding upon the parties named herein and their respective successors and assigns; provided, however, Employee may not assign any of his rights or obligations hereunder. Further, the Company will not consolidate or merge into or with another corporation, or transfer all or substantially all of its assets to another corporation or entity or person, unless such shall assume and be able to satisfy all the duties and obligations of the Company under this Agreement.

Assignment and Parties in Interest. This Agreement shall inure to the benefit of and be binding upon the parties named names herein and their respective successors and assigns; provided, provided however, that the Company may in its discretion assign its rights and benefits herein to a subsidiary or affiliate but Employee may not assign any of his rights or obligations hereunder. Further, the Company will not consolidate or merge into or with another corporation, or transfer all or substantially all of its assets to another corporation or entity or person, unless such shall assume and be able to satisfy all the duties and obligations of the Company under this Agreement.