Common use of Assignment/Transferability Clause in Contracts

Assignment/Transferability. This agreement shall not be assigned in whole or in part unless such assignment has been approved by the other party with such approval not to be unreasonably withheld. In the case of an assignment, the assignee shall assume all rights and liabilities. In the situation where a third party acquires a majority in interest of one of the parties to this agreement, all rights and obligations shall be automatically transferred to such party.

Assignment/Transferability. This agreement Agreement shall not be assigned in whole or in part unless such assignment has been approved by the other party with such approval not to be unreasonably withheld. In the case of an assignment, the assignee shall assume all rights and liabilities. In the situation where a third party acquires a majority in interest of one of the parties to this agreementAgreement, all rights and obligations shall be automatically transferred to such party.