Common use of Assignment by Franchisor Clause in Contracts

Assignment by Franchisor. (a) FRANCHISOR may Transfer this Agreement, and all of the rights and obligations of FRANCHISOR hereunder, to (i) an Affiliate of FRANCHISOR; or (ii) an IP Transferee (as defined in clause 18.7(b) below), and such Transfer shall inure to the benefit of the successors and assigns of FRANCHISOR. In the case of any such Transfer, each of Parent and Franchisee hereby grants its prior and irrevocable consent to such assignment, and waives any requirement of prior notice. FRANCHISOR will provide Franchisee with formal written notice of the Transfer within fifteen (15) days following its completion. Parent and Franchisee shall take all such actions as FRANCHISOR shall reasonably require or as required by applicable Law to effect such transfer.

Assignment by Franchisor. (a) FRANCHISOR may Transfer this Agreement, and all of the rights and obligations of FRANCHISOR hereunder, to (i) an Affiliate of FRANCHISOR; or (ii) an IP Transferee (as defined in clause 18.7(b) below), ) and such Transfer shall inure to the benefit of the successors and assigns of FRANCHISOR. In the case of any such Transfer, each of Parent and Franchisee hereby grants its prior and irrevocable consent to such assignment, and waives any requirement of prior notice. FRANCHISOR will provide Franchisee with formal written notice of the Transfer within fifteen (15) days following its completion. Parent and Franchisee shall take all such actions as FRANCHISOR shall reasonably require or as required by applicable Law to effect such transfer.

Assignment by Franchisor. (a) FRANCHISOR may Transfer this Agreement, and all of the rights and obligations of FRANCHISOR hereunder, to (i) an Affiliate of FRANCHISORAffiliate; or (ii) an IP Transferee (as defined in sub-clause 18.7(b) below), ) and such Transfer shall inure to the benefit of the successors and assigns of FRANCHISOR. In the case of any such Transfer, each of Parent and Franchisee hereby grants its prior and irrevocable consent to such assignment, assignment and waives any requirement of prior notice. FRANCHISOR will provide Franchisee with formal written notice of the Transfer within fifteen (15) days following its completion. Parent and If required by FRANCHISOR, Franchisee shall take all such actions as FRANCHISOR shall reasonably require or as required by applicable Law to effect such transferTransfer, including executing any deed, agreement or notice of assignment acknowledging and agreeing to the assignment by FRANCHISOR.