ASSIGNMENT, NOVATION, OR TRANSFER Sample Clauses
The "Assignment, Novation, or Transfer" clause defines the rules and restrictions regarding a party’s ability to transfer its rights or obligations under the contract to another party. Typically, this clause specifies whether such transfers require the other party’s consent, and may outline exceptions or procedures for obtaining approval. For example, it may prohibit assignment without written consent, or allow transfers in connection with a merger or sale of business assets. The core function of this clause is to maintain control over who is involved in the contractual relationship, thereby protecting parties from unwanted or unknown third parties assuming contractual duties or benefits.
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ASSIGNMENT, NOVATION, OR TRANSFER. This Contract will be binding upon and inure to the benefit of the Company and the Reinsurer and their respective successors and assigns; provided, however, that, subject to Article 21 - INSOLVENCY, this Contract may not be assigned, novated, or transferred, including any attempted transfer of rights and/or obligations under any U.S. or non-U.S. statute, legislation, or jurisprudence, by either the Company or the Reinsurer, or as the result of the actions of a parent company or an affiliated entity of either, without the prior written consent of the other party and of the Original Insured. In the event of any assignment or transfer, the assignor or transferor will remain liable under this Contract and further guarantees the performance of all obligations of any assignee or transferee under this Contract. Notwithstanding the foregoing, the Company may assign this Contract to an affiliated entity without the Reinsurer's written consent; however, prior written consent of the Original Insured is required.
ASSIGNMENT, NOVATION, OR TRANSFER. (LM-00300-2008.05.13-A) This Contract shall be binding upon and inure to the benefit of the Company and the Subscribing Reinsurer and their respective successors and assigns provided, however, that this Contract may not be assigned, novated or transferred, including any attempted transfer of rights and/or obligations under any U.S. or foreign statute, legislation or jurisprudence, by either the Company or the Subscribing Reinsurer , or as the result of the action(s) of a parent company or an affiliated entity of either, without the prior written consent of the other. In the event of any assignment, novation or transfer, the assignor, novator or transferor shall remain liable under this Contract, and further guarantees the performance of all obligations of any assignee, novatee or transferee under this Contract. Notwithstanding the foregoing, the Company may assign this Contract to an insurance entity controlling, controlled by or under common control with the Company, without the Subscribing Reinsurer’s written consent.
ASSIGNMENT, NOVATION, OR TRANSFER. (LM-00300-2007.10.05-A) This Contract shall be binding upon and inure to the benefit of the Company and the Subscribing Reinsurer and their respective successors and assigns; provided, however, that this Contract may not be assigned, novated or transferred, including any attempted transfer of rights and/or obligations under any U.S. or foreign statute, legislation or jurisprudence, by either the Company or the Subscribing Reinsurer, or as the result of the actions of a parent company or affiliated entity of either, without the prior written consent of the other. In the event of any assignment, novation or transfer, the assignor, novator or transferor shall remain liable under this Contract, and further guarantees the Effective: January 1, 2010 Page 11 of 36 Workers’ Compensation Excess of Loss Reinsurance Addendum 1 No. 0100200-SUM08 performance of all obligations of any assignee, novatee or transferee under this Contract. Notwithstanding the foregoing, the Company may assign this Contract to an affiliated entity, without the Subscribing Reinsurer’s written consent.
ASSIGNMENT, NOVATION, OR TRANSFER. (a) The Customer must obtain the prior written consent of the Company before it transfers, assigns or novates it’s rights or obligations under this Agreement.
(b) The Company may transfer, assign or novate it’s rights or obligations under the Agreement.
(c) A Change of Control in the Customer will be deemed an assignment of this Agreement.
ASSIGNMENT, NOVATION, OR TRANSFER. You may not assign, novate, transfer its rights and or obligations under this Agreement without our prior written consent, other than to a person who is purchasing your business. We may assign, novate or transfer its rights and or obligations under this Agreement by providing written notice to you of such assignment, novation or transfer.
ASSIGNMENT, NOVATION, OR TRANSFER. (LM-00300-2007.10.05-A) This Contract shall be binding upon and inure to the benefit of the Company and the Subscribing Reinsurer and their respective successors and assigns; provided, however, that this Contract may not be assigned, novated or transferred, including any attempted transfer of rights and/or obligations under any U.S. or foreign statute, legislation or jurisprudence, by either the Company or the Subscribing Reinsurer, or as the result of the actions of a parent company or affiliated entity of either, without the Effective: January 1, 2008 2008 Wausau Property per Risk Excess Contract prior written consent of the other. In the event of any assignment, novation or transfer, the assignor, novator or transferor shall remain liable under this Contract, and further guarantees the performance of all obligations of any assignee, novatee or transferee under this Contract. Notwithstanding the foregoing, the Company may assign this Contract to an affiliated entity, without the Subscribing Reinsurer’s written consent.
ASSIGNMENT, NOVATION, OR TRANSFER. Save that the Employer may assign, novate or transfer the Contract or any rights or benefits arising under the Contract to First Abu Dhabi Bank for the financing of the Project without the prior written approval of the Contractor provided prior written notice is given to the Contractor, the Parties are not entitled to assign, novate or transfer this Contract or any rights or benefits arising under this Contract without the prior written approval of the other party, whose approval shall not be unreasonable withheld.
ASSIGNMENT, NOVATION, OR TRANSFER. A party cannot assign, novate or otherwise transfer any of its rights or obligations under this deed other than in accordance with the Services Agreement.
ASSIGNMENT, NOVATION, OR TRANSFER. This Contract will be binding upon and inure to the benefit of the Company and the Reinsurer and their respective successors and assigns provided, however, that this Contract may not be assigned, novated, or transferred, including any attempted transfer of rights and/or obligations under any U.S. or foreign statute, legislation, or jurisprudence, by either the Company or the Reinsurer, or as the result of the actions of a parent company or an affiliated entity of either, without the prior written consent of the other party and of the Original Insured. In the event of any assignment, novation, or transfer, the assignor, novator, or transferor will remain liable, under this Contract, and further guarantees the performance of all obligations of any assignee, novatee, or transferee under this Contract. Notwithstanding the foregoing, the Company may assign this Contract to an affiliated entity without the Reinsurer's written consent; however, prior written consent of the Original Insured is required.
ASSIGNMENT, NOVATION, OR TRANSFER. A party must obtain the prior written consent of each other party before it transfers, assigns or novates a right or obligation under this Deed.