Assignment to Horizon Clause Samples
The "Assignment to Horizon" clause establishes that rights or obligations under the agreement may be transferred specifically to Horizon, a designated party. In practice, this means that if one party wishes to assign its interests or duties, it can do so directly to Horizon without requiring additional approvals or triggering restrictions that might apply to other third parties. This clause ensures that Horizon can step into the shoes of the original party, facilitating business continuity or restructuring, and solves the problem of assignment limitations by providing a clear, pre-approved pathway for such transfers.
Assignment to Horizon. POZEN acknowledges that, in connection with the Divestiture, AstraZeneca AB will assign this Agreement to Horizon, effective as of the Amended and Restated Effective Date, and that, notwithstanding Section 15.1, AstraZeneca AB may assign this Agreement to Horizon in connection with the Divestiture without the prior written consent of POZEN. Without limiting any provision of the Three-Party Agreement, from and after the Amended and Restated Effective Date, all references to “Licensee” in this Agreement, other than references to Licensee in connection with anticipated actions to be taken by AstraZeneca AB as Licensee in connection with the Divestiture, shall automatically be deemed references to Horizon.