Binding Agreements; Non-Assignability Sample Clauses
The "Binding Agreements; Non-Assignability" clause establishes that the contract is legally enforceable on all parties involved and restricts the ability of either party to transfer their rights or obligations under the agreement to another party without prior consent. In practice, this means that neither side can assign the contract to a third party, such as selling their interest or delegating their responsibilities, unless the other party agrees in writing. This clause ensures that both parties remain accountable for fulfilling their contractual duties and prevents unwanted or unexpected changes in the parties to the agreement, thereby maintaining stability and predictability in the contractual relationship.
Binding Agreements; Non-Assignability. Each of the provisions and agreements herein contained shall be binding upon and inure to the benefit of the personal representatives, heirs, devisees and successors of the respective parties hereto; but none of the rights or obligations attaching to either party hereunder shall be assignable, unless specifically noted.
Binding Agreements; Non-Assignability. Each of the provisions and agreements herein contained shall be binding upon and inure to the benefit of the personal representatives, heirs, devisees, successors and assigns of the respective parties hereto. Sellers may not assign any of their rights or delegate any of their obligations hereunder without the prior written consent of Purchaser. Purchaser may assign its rights or delegate its obligations hereunder to a wholly owned subsidiary of Purchaser.