Assignment of a Party’s Rights and Obligations. Except as otherwise provided in section 16.4, a Party shall not, without the prior written consent of ColumbiaGrid, assign, pledge, or transfer all or any part of, or any right or obligation under, this Agreement, whether voluntarily or by operation of law; provided however that a Party may, without the consent of ColumbiaGrid, assign its rights and obligations under this Agreement to any Person (i) into which such Party is merged or consolidated or (ii) to which such Party sells, transfers, or assigns all or substantially all of its Electric System, so long as the survivor in any such merger or consolidation, or the purchaser, transferee, or assignee of such Electric System provides to each of the other Parties a valid and binding written agreement expressly assuming and agreeing to be bound by all obligations of such Party under this Agreement.
Appears in 4 contracts
Samples: Facilities Agreement, Facilities Agreement, Facilities Agreement
