Common use of Binding on Successors; Assignment Clause in Contracts

Binding on Successors; Assignment. This Agreement is binding on, and shall inure to the benefit of the parties hereto and their respective successors, heirs and permitted assigns. This Agreement and any rights or duties hereunder may not be assigned by Licensee, whether such assignment occurs by merger, consolidation, sale, lease, other disposition of or any other business combination of Licensee, without the prior written consent of Grantor. Grantor may assign its rights hereunder to any person provided that such person, either expressly or by operation of law, assumes Grantor's obligations hereunder. The above notwithstanding, Grantor understands that Licensee is, as of the effective date hereof, negotiating with several companies for the purpose of entering into a merger, joint venture, or marketing arrangement specifically for the purpose of marketing or financing Licensee's efforts in marketing of the Product. Grantor agrees that as long as the requirements of this Agreement are fulfilled that Grantor will not unreasonably deny a request to allow Licensee to enter into the contemplated agreement.