Common use of ASSIGNMENT; SUCCESSORS; NO THIRD-PARTY RIGHTS Clause in Contracts

ASSIGNMENT; SUCCESSORS; NO THIRD-PARTY RIGHTS. No party may assign any of its rights or delegate any of its obligations under this Agreement without the prior written consent of the other parties; provided, however, Parent can assign all of its rights and obligations under this Agreement to any Affiliate of Parent. Subject to the preceding sentence, this Agreement will apply to, be binding in all respects upon and inure to the benefit of each party's successors and permitted assigns. Nothing expressed or referred to in this Agreement will be construed to give any Person, other than the parties to this Agreement, any legal or equitable right, remedy or claim under or with respect to this Agreement or any provision of this Agreement except such rights as may inure to a successor or permitted assignee under this Section and for the provisions of Article 1 (collectively, "Third-Party Provisions"). The Third-Party Provisions may be enforced by the beneficiaries thereof.

Appears in 2 contracts

Samples: Merger Agreement (Greka Energy Corp), Merger Agreement (Greka Energy Corp)

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ASSIGNMENT; SUCCESSORS; NO THIRD-PARTY RIGHTS. No party Party may assign any of its rights or delegate any of its obligations under this Agreement without the prior written consent of the other partiesParties; provided, however, Parent can assign all of its rights and obligations under this Agreement to any Affiliate of ParentParent so long as Parent unconditionally guarantees the obligations of such Affiliate. Subject to the preceding sentence, this Agreement will apply to, be binding in all respects upon and inure to the benefit of each party's Party’s successors and permitted assigns. Nothing expressed or referred to in this Agreement will be construed to give any Person, other than the parties Parties to this Agreement, any legal or equitable right, remedy or claim under or with respect to this Agreement or any provision of this Agreement except such rights as may inure to a successor or permitted assignee under this Section and for the provisions of Article 1 (collectively, "Third-Party Provisions"). The Third-Party Provisions may be enforced by the beneficiaries thereof.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Equity Oil Co)

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ASSIGNMENT; SUCCESSORS; NO THIRD-PARTY RIGHTS. No party may assign any of its rights or delegate any of its obligations under this Agreement without the prior written consent of the other parties; providedparty, howeverwhich will not be unreasonably withheld, Parent can except that Buyer may without the consent of Sellers assign all any of its rights and delegate any of its obligations under this Agreement to any Affiliate entity that is a Related Person of ParentBuyer. Subject to the preceding sentence, this Agreement will apply to, be binding in all respects upon upon, and inure to the benefit of each party's Seller’s heirs, executors, administrators and permitted assigns and Buyer’s successors and permitted assigns. Nothing expressed or referred to in this Agreement will be construed to give any Person, other than the parties to this Agreement, any legal or equitable right, remedy or claim under or with respect to this Agreement or any provision of this Agreement except such rights as may inure to a successor or permitted assignee under this Section and for the provisions of Article 1 (collectively, "Third-Party Provisions"). The Third-Party Provisions may be enforced by the beneficiaries thereofSection.

Appears in 1 contract

Samples: Stock Purchase Agreement

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