Common use of Assignment by Grantee Clause in Contracts

Assignment by Grantee. Grantee may at any time convey or transfer its rights, interests and obligations under this Deed to any person or entity, without the approval of Grantors, provided that Grantors shall not be bound by any such conveyance or transfer unless and until it has received a Notice signed by Grantee and its transferee, which includes the details of such person’s or entity’s address for Notices and by which such transferee agrees to be bound by all of the terms and conditions of this Deed. Any transfer of the right to receive any Royalty payments shall in no event require Grantors to make payments to more than one person or entity. If the right to receive Royalty payments is transferred to more than one person or entity, such transfer shall not be binding upon Grantors until the first day of the month following the date on which Grantors receive written Notice signed by Grantee and its transferee designating a single agent for receipt of future Royalty payments and for exercising all rights of Grantee under this Deed.

Assignment by Grantee. Grantee may at any time convey or transfer its rights, interests and obligations under this Deed to any person or entity, without the approval of Grantors, provided that Grantors shall not be bound by any such conveyance or transfer unless and until it has received a Notice signed by Grantee and its transferee, which includes the details of such person’s or entity’s address for Notices and by which such transferee agrees to be bound by all of the terms and conditions of this Deed. Any transfer of the right to receive any Royalty payments shall in no event require Grantors to make payments to more than one person or entity. If the right to receive Royalty payments is transferred to more than one person or entity, such transfer shall not be binding upon Grantors until the first day of the month following the date on which Grantors receive written Notice signed by Grantee and its transferee designating a single agent for receipt of future Royalty payments and for exercising all rights of Grantee under this Deed.receipt