Assignment by SunPower Sample Clauses
The "Assignment by SunPower" clause defines SunPower's right to transfer its contractual rights and obligations to another party. Typically, this clause outlines the conditions under which SunPower may assign the agreement, such as requiring notice to the other party or limiting assignment to affiliates or in connection with a merger or sale of assets. Its core function is to provide SunPower with flexibility in managing its business interests while clarifying the circumstances under which assignments are permitted, thereby reducing uncertainty and potential disputes over changes in contractual parties.
Assignment by SunPower. Upon written notice to Maxeon, SunPower may assign to [***] (or an affiliated entity controlled by [***]) its rights to receive any portion of the Products to be delivered pursuant to this Agreement. In the event such assignment is made, ▇▇▇▇▇▇ will accept sums paid by [***] (or an affiliated entity controlled by [***]), if any, as if such sums were paid by SunPower. Any such assignment, if made, does not amend or modify SunPower’s obligations with respect to providing and maintaining the Payment Security as defined in Paragraph 7, below, or any other obligations of SunPower.
Assignment by SunPower. This Agreement may not be assigned by SunPower without the prior written consent of Total, which may be withheld in Total’s sole discretion.
Assignment by SunPower. Upon written notice to Maxeon, SunPower may assign to [***] (or an affiliated entity controlled by [***]) its rights to receive any portion of the Products to be delivered pursuant to this Agreement. In the event such assignment is made, ▇▇▇▇▇▇ will accept sums paid by [***] (or an affiliated entity controlled by [***]), if any, as if such sums were paid by SunPower. Any such assignment, if made, does not amend or modify SunPower’s obligations with respect to providing and maintaining the Payment Security as defined in Paragraph 7, below, or any other obligations of SunPower. 7. Payment for 2023 Volumes. SunPower agrees to pay for the 2023 Volumes within [***] days of the delivery date for each volume listed in the table in Paragraph 5, above. Within seven (7) days of the Effective Date, SunPower shall deliver payment security to Maxeon (“Payment Security”) in the form of a payment bond issued by a United States Treasury-listed surety with an A.M. Best Company, Inc. rating of at least A- in an amount not less than USD 30 million and in a form as attached to this Agreement as Exhibit A. The Payment Security shall not be terminable prior to April 29, 2024. The Payment Security need not exceed the outstanding balance for any remaining, unpaid payments for the 2023 Volumes. Maxeon has a right to demand and receive payment under the Payment Security if SunPower fails to pay for any of the 2023 Volumes on the applicable payment date for such volume and such failure remains uncured 4