Common use of Assignment of Joint Venture Interest Clause in Contracts

Assignment of Joint Venture Interest. The Assigning Venturer hereby sells, transfers and assigns to the L'Auberge Venturer, and the L'Auberge Venturer hereby accepts from the Assigning Venturer, all of the Assigning Venturer's right, title and interest in and to its interest in the Joint Venture and in, to and under the Joint Venture Agreement, together with any and all rights (including without limitation all rights to distributions and allocations arising from and after the date hereof) incidental thereto (collectively, the "Interest"). By their execution hereof, the Assigning Venturer and the L'Auberge Venturer waive their respective rights to receive notice of the transfer of the Interest, to invoke restrictions on transfer of such Interest and to withhold approval of such transfer.