Common use of Assignment of Obligations Clause in Contracts

Assignment of Obligations. Neither party may assign its rights or obligations under this Agreement without the prior written consent of the other party; provided that either Contractor or Company may assign this Agreement to any Person acquiring all or substantially all of the assignor’s assets and, provided further, that either Contractor or Company may enter into a collateral assignment and transfer of all its rights and remedies hereunder to any party providing secured financing to the assignor. In addition, Company may assign some or all of its rights under this Agreement, with recourse to Company, to any one or more of Company’s customers to assure performance by Company of its obligations to such customers.

Assignment of Obligations. Neither party Party may assign its rights or obligations under this Agreement without the prior written consent of the other partyParty; provided that either Company or Contractor or Company may assign this Agreement to any Person acquiring all or substantially all of the assignor’s assets andassets, and provided further, that the either Contractor or Company may enter into a collateral assignment and transfer all of all its rights and remedies hereunder to any party providing secured financing to the assignor. In addition, Company may assign some or all of its rights under this Agreement, with recourse to Company, to any one or more of Company’s customers to assure performance by Company of its obligations to such customers.