Common use of Assignment; Successors; Binding Agreement Clause in Contracts

Assignment; Successors; Binding Agreement. This Agreement may not be assigned by either party, whether by operation of law or otherwise, without the prior written consent of the other party, except that any right, title or interest of Holdings or Centers arising out of this Agreement may be assigned by Holdings or Centers to any corporation or entity controlling, controlled by, or under common control with Holdings or Centers, as applicable, or to any Affiliates of Holdings or Centers, as applicable; provided, however, that the assignee shall first deliver to the Executive an express written assumption of this Agreement and Holdings’ or Centers’ obligations hereunder, as applicable. No such assignment shall relieve Holdings or Centers of their obligations under this Agreement without the express written consent of the Executive (which consent will not be unreasonably withheld). Subject to the foregoing, this Agreement is binding upon and will inure to the benefit of the parties and their respective heirs, legatees, devisees, personal representatives, successors and assigns.

Appears in 3 contracts

Samples: Employment Agreement (General Nutrition Centers, Inc.), Employment Agreement (General Nutrition Centers, Inc.), Employment Agreement (General Nutrition Centers, Inc.)

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Assignment; Successors; Binding Agreement. This Agreement may not be assigned by either party, whether by operation of law or otherwise, without the prior written consent of the other party, except that any right, title or interest of Holdings or Centers the Company arising out of this Agreement may be assigned by Holdings or Centers to any corporation or entity controlling, controlled by, or under common control with Holdings or Centers, as applicablethe Company, or to any Affiliates successor of Holdings the Company or Centers, as applicableany entity acquiring all or substantially all of the assets of the Company; provided, however, that as a precondition thereto, the assignee shall first deliver to the Executive Executive, an express written assumption of this Agreement and Holdings’ or Centers’ the Company's obligations hereunder, as applicable. No such assignment shall relieve Holdings or Centers the Company of their its obligations under this Agreement hereunder without the express written consent of the Executive (which consent will not be unreasonably withheld)Executive. Subject to the foregoing, this Agreement is shall be binding upon and will shall inure to the benefit of the parties and their respective heirs, legatees, devisees, personal representatives, successors and assigns.

Appears in 3 contracts

Samples: Employment Agreement (Education Management Corporation), Employment Agreement (Education Management Corporation), Employment Agreement (Education Management Corporation)

Assignment; Successors; Binding Agreement. This Agreement may not be assigned by either party, whether by operation of law or otherwise, without the prior written consent of the other party, except that any right, title or interest of Holdings or Centers arising out of this Agreement may be assigned by Holdings or Centers to any corporation or entity controlling, controlled by, or under common control with Holdings or Centers, as applicable, or to any Affiliates of Holdings or Centers, as applicable; provided, however, that the assignee shall first deliver to the Executive an express written assumption of this Agreement and Holdings’ or Centers’ obligations hereunder, as applicable. No such assignment shall relieve Holdings or Centers of their obligations under this Agreement without the express written consent of the Executive (which consent will shall not be unreasonably withheld). Subject to the foregoing, this Agreement is binding upon and will shall inure to the benefit of the parties and their respective heirs, legatees, devisees, personal representatives, successors and assigns.

Appears in 1 contract

Samples: Employment Agreement (GNC Acquisition Holdings Inc.)

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Assignment; Successors; Binding Agreement. This Agreement may not be assigned by either party, whether by operation of law or otherwise, without the prior written consent of the other party, except that any right, title or interest of Holdings or Centers the Company arising out of this Agreement may be assigned by Holdings or Centers to any corporation or entity controlling, controlled by, or under common control with Holdings or Centers, as applicablethe Company, or to any Affiliates successor of Holdings the Company or Centers, as applicableany entity acquiring all or substantially all of the assets of the Company; provided, however, that as a precondition thereto, the assignee shall first deliver to the Executive Executive, an express written assumption of this Agreement and Holdings’ or Centers’ the Company’s obligations hereunder, as applicable. No such assignment shall relieve Holdings or Centers the Company of their its obligations under this Agreement hereunder without the express written consent of the Executive (which consent will not be unreasonably withheld)Executive. Subject to the foregoing, this Agreement is shall be binding upon and will shall inure to the benefit of the parties and their respective heirs, legatees, devisees, personal representatives, successors and assigns.

Appears in 1 contract

Samples: Employment Agreement (AID Restaurant, Inc.)

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