Common use of Assignment or Transfer of Rights Clause in Contracts

Assignment or Transfer of Rights. The rights and obligations created by this Agreement shall bind the parties hereof and their heirs, successors and permitted assignees. Team shall not assign or transfer its interest, or any part thereof whether by sale of stock or otherwise, under this agreement without the prior written consent of League. Any assignment or sale of such rights and obligations without the prior written consent of League shall be null and void. Any consideration by League of the proposed assignment of this Agreement by Team, whether by sale to a third party or otherwise, shall be conducted on the basis of a Statement of Intent filed by Team with League setting forth all circumstances of the proposed assignment or sale. League shall be under no obligation to approve any assignment or transfer of interests which will result in the removal of Team from the geographic area identified above. In addition, Team shall not be permitted to remove its business operations to any location outside the Geographic Area identified herein, or to change its home field venue from that identified in Exhibit “A” without prior written consent of League. League may, at its option, charge a fee to Team for such approval.

Assignment or Transfer of Rights. The rights and obligations created by this Agreement shall bind the parties hereof and their heirs, successors and permitted assignees. Team shall not assign or transfer its interest, or any part thereof whether by sale of stock or otherwise, under this agreement without the prior written consent of League. Any assignment or sale of such rights and obligations without the prior written consent of League shall be null and void. Any consideration by League of the proposed assignment of this Agreement by Team, whether by sale to a third party or otherwise, shall be conducted on the basis of a Statement of Intent filed by Team with League setting forth all circumstances of the proposed assignment or sale. League shall be under no obligation to approve any assignment or transfer of interests which will result in the removal of Team from the geographic area identified above. In addition, Team shall not be permitted to remove its business operations to any location outside the Geographic Area identified herein, or to change its home field venue from that identified in Exhibit “A” without prior written consent of League. League may, at its option, charge a fee to Team for such approval. 8.