Common use of Assignment; Benefit Clause in Contracts

Assignment; Benefit. No party shall have the right to assign this Agreement or any rights or obligations hereunder without the consent of each of the other parties; provided, however, that Employer may assign its rights and obligations hereunder (i) to any entity controlled by, under the control of, or under common control with, Employer (as long as such entity is no less capable of fulfilling the obligations of Employer hereunder), or (ii) to any successor to Employer upon any liquidation, dissolution or winding up of Employer, upon any merger or consolidation of Employer or upon any sale of all or substantially all of the assets of Employer (as long as such successor is capable of fulfilling the obligations of Employer hereunder).

Appears in 11 contracts

Samples: Separation and Settlement Agreement (Banc of California, Inc.), Employment Agreement (Banc of California, Inc.), Employment Agreement (First Pactrust Bancorp Inc)

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Assignment; Benefit. No party shall have the right to assign this Agreement or any rights or obligations hereunder without the consent of each of the other partiesparty; provided, however, that Employer may assign its rights and obligations hereunder (i) to any entity controlled by, under the control of, or under common control with, Employer (as long as such entity is no less capable of fulfilling the obligations of Employer hereunder), or (ii) to any successor to Employer upon any liquidation, dissolution or winding up of Employer, upon any merger or consolidation of Employer or upon any sale of all or substantially all of the assets of Employer (as long as such successor is capable of fulfilling the obligations of Employer hereunder).

Appears in 3 contracts

Samples: Employment Agreement (Banc of California, Inc.), Employment Agreement (Banc of California, Inc.), Employment Agreement (Banc of California, Inc.)

Assignment; Benefit. No party shall have the right to assign this Agreement or any rights or obligations hereunder without the consent of each of the other partiesparty; provided, however, that Employer the Company may assign its rights and obligations hereunder (i) to any entity controlled by, under the control of, or under common control with, Employer the Company (as long as such entity is no less capable of fulfilling the obligations of Employer hereunder), or (ii) to any successor to Employer upon any liquidation, dissolution or winding up of Employer, upon any merger or consolidation of Employer or upon any sale of all or substantially all of the assets of Employer (as long as such successor is capable of fulfilling the obligations of Employer hereunder).. The Bank and the Company’s other subsidiaries shall be deemed to be beneficiaries of this Agreement

Appears in 3 contracts

Samples: Employment Agreement, Employment Agreement (Banc of California, Inc.), Employment Agreement (Banc of California, Inc.)

Assignment; Benefit. No Neither party shall have the right to assign this Agreement or any rights or obligations hereunder without the consent of each of the other partiesparty; provided, however, that Employer may assign its rights and obligations hereunder (i) to any entity controlled by, under the control of, or under common control with, Employer (as long as such entity is no less capable of fulfilling the obligations of Employer hereunder), or (ii) to any successor to Employer upon any liquidation, dissolution or winding up of Employer, upon any merger or consolidation of Employer or upon any sale of all or substantially all of the assets of Employer (as long as such successor is capable of fulfilling the obligations of Employer hereunder).

Appears in 2 contracts

Samples: Employment Agreement (First Pactrust Bancorp Inc), Employment Agreement (First Pactrust Bancorp Inc)

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Assignment; Benefit. No party shall have the right to assign this Agreement or any rights or obligations hereunder without the consent of each of the other partiesparty; provided, however, that Employer may assign its rights and obligations hereunder (i) to any entity controlled by, under the control of, or under common control with, Employer (as long as such entity is no less capable of fulfilling the obligations of Employer hereunder), or (ii) to any successor to Employer upon any liquidation, dissolution or winding up of Employer, upon any merger or consolidation of Employer or upon any sale of all or substantially all of the assets of Employer (as long as such successor is capable of fulfilling the obligations of Employer hereunder).. The Bank and the Company’s other subsidiaries shall be deemed to be beneficiaries of this Agreement

Appears in 1 contract

Samples: Employment Agreement (Banc of California, Inc.)

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