Common use of Assignment; No Third Party Beneficiary Clause in Contracts

Assignment; No Third Party Beneficiary. Neither the Company nor any Member shall assign its rights or delegate its obligations hereunder without written consent of all of the Members except to an Affiliate of the Company or such Member; provided that no such assignment shall relieve the assignor of its obligations. The provisions of this Agreement are for the benefit only of the Company and the Members, and no third party may seek to enforce or benefit from these provisions except that the Persons indemnified by the Company pursuant to Section 13.1 shall be third party beneficiaries of this Agreement with respect to such Section only and shall have independent standing to enforce or benefit from such Section. References to a party by name herein shall also be deemed to be references to such party's permitted successors and assigns.

Appears in 3 contracts

Samples: Operating Agreement (Claxson Interactive Group Inc), Operating Agreement (Playboy Enterprises Inc), Operating Agreement (Playboy Enterprises Inc)

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Assignment; No Third Party Beneficiary. Neither the Company nor any Member shall assign its rights or delegate its obligations hereunder without written consent of all of the Members except to an Affiliate of the Company or such Member; provided that no such assignment shall relieve the assignor of its obligations. The provisions of this Agreement are for the benefit only of the Company and the Members, and no third party may seek to enforce or benefit from these provisions except that the Persons indemnified by the Company pursuant to Section 13.1 shall be third party beneficiaries of this Agreement with respect to such Section only and shall have independent standing to enforce or benefit from such Section. References to a party by name herein shall also be deemed to be references to such party's ’s permitted successors and assigns.

Appears in 1 contract

Samples: Operating Agreement (Claxson Interactive Group Inc)

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