Common use of Assignment and Parties in Interest Clause in Contracts

Assignment and Parties in Interest. (a) Except as provided in Section 4.1(c), neither this Agreement nor any of the rights, duties, or obligations of any party hereunder may be assigned or delegated (by operation of law or otherwise) by any party hereto except with the prior written consent of the other parties hereto. (b) This Agreement shall not confer any rights or remedies upon any person or entity other than the parties hereto and their respective permitted successors and assigns; provided, however, that (i) the rights set forth in Article II hereof shall not inure to the benefit of any transferee (other than a Permitted Transferee) without the prior written consent of each Restricted Stockholder (other than the Transferor) and (ii) the provisions of this Agreement shall not be binding on any Transferee of Restricted Securities except as set forth in Sections 4.1(c) and 4.2.

Appears in 4 contracts

Samples: Stockholders Agreement (Charlesbank Capital Partners LLC), Stockholders Agreement (Penske Capital Partners LLC), Shareholder Agreement (United Auto Group Inc)

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Assignment and Parties in Interest. (a) Except as provided in Section 4.1(c), neither this Agreement nor any of the rights, duties, or obligations of any party hereunder may be assigned or delegated (by operation of law or otherwise) by any party hereto except with the prior written consent of the other parties hereto. (b) This Agreement shall not confer any rights or remedies upon any person or entity other than the parties hereto and their respective permitted successors and assigns; provided, however, that (i) the rights set forth in Article II hereof shall not inure to the benefit of any transferee (other than a Permitted Transferee) without the prior written consent of each Restricted Stockholder (other than the Transferor) and (ii) the provisions of this Agreement shall not be binding on any Transferee of Restricted Securities or shares of Common Stock of the Company, as the case may be, except as set forth in Sections 4.1(c) and 4.2.

Appears in 2 contracts

Samples: Stockholders Agreement (United Auto Group Inc), Stockholders Agreement (Penske Capital Partners LLC)

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Assignment and Parties in Interest. (a) A. Except as provided in Section 4.1(c), neither this Agreement nor any of the rights, duties, or obligations of any party hereunder may be assigned or delegated (by operation of law or otherwise) by any party hereto except with the prior written consent of the other parties hereto. (b) B. This Agreement shall not confer any rights or remedies upon any person or entity other than the parties hereto and their respective permitted successors and assigns; provided, however, that (i) the rights set forth in Article II hereof shall not inure to the benefit of any transferee (other than a Permitted Transferee) without the prior written consent of each Restricted Stockholder (other than the Transferor) and (ii) the provisions of this Agreement shall not be binding on any Transferee of Restricted Securities except as set forth in Sections 4.1(c) and 4.2.

Appears in 1 contract

Samples: Stockholders Agreement (Aif Ii Lp)

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