Common use of Benefit of Agreement and Assignment Clause in Contracts

Benefit of Agreement and Assignment. (A) This Agreement shall inure to the benefit of Employer, its affiliates and subsidiaries and its and their respective successors and assigns (including, without limitation, the purchaser of all or substantially all of any such entity's assets) and shall be binding upon Employer and its successors and assigns. This Agreement also shall inure to the benefit of and be binding upon Executive and Executive's heirs, administrators, executors and assigns. Executive may not assign or delegate Executive's duties under this Agreement, without the prior written consent of Employer. (B) Employer will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of Employer to assume expressly in writing and agree to perform this Agreement in the same manner and to the same extent that Employer would be required to perform it if no such succession had taken place. As used in this Agreement, "Employer" shall mean the Employer as defined in the caption of this Agreement and any successor to its business and/or assets that assumes and agrees to perform this Agreement by operation of law or otherwise.