ELEVENTH: ASSIGNMENT Clause Samples

The ELEVENTH: ASSIGNMENT clause governs whether and how a party to the agreement can transfer its rights or obligations under the contract to another party. Typically, this clause specifies if assignment is permitted, whether prior written consent is required, or if certain assignments are automatically allowed, such as to affiliates or in connection with a merger. Its core function is to control changes in the parties to the contract, thereby protecting each party from being unexpectedly bound to or dealing with an unknown or undesirable third party.
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ELEVENTH: ASSIGNMENT. The Sellers may not assign all or part of the performance of the obligations hereunder to third parties unless they have prior specific written authorization of the other Party. The Purchasers may assign to one or more third parties the rights and obligations of the Purchasers within the purview of this Agreement with no need for prior consent of the Sellers provided the assignee is an affiliate of TEM. A company shall be deemed, for such purpose, to be an affiliate of TEM if it is controlled thereby, controls TEM or is under direct or indirect control of the controller of TEM.
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Related to ELEVENTH: ASSIGNMENT

  • SUBLET/ASSIGNMENT The Lessee may not transfer or assign this Lease, or any right or interest hereunder or sublet said leased Premises or any part thereof without first obtaining the prior written consent and approval of the Lessor.

  • Amendment; Assignment This Agreement may be amended, superseded, canceled, renewed or extended, and the terms hereof may be waived, only by a written instrument signed by authorized representatives of the parties or, in the case of a waiver, by an authorized representative of the party waiving compliance. No such written instrument shall be effective unless it expressly recites that it is intended to amend, supersede, cancel, renew or extend this Agreement or to waive compliance with one or more of the terms hereof, as the case may be. Except for the Management Stockholder’s right to assign his or her rights under Section 4(a) or the Company’s right to assign its rights under Section 4(b), no party to this Agreement may assign any of its rights or obligations under this Agreement without the prior written consent of the other parties hereto.

  • Deed; ▇▇▇▇ of Sale; Assignment To the extent required and permitted by applicable law, this Agreement shall also constitute a “deed,” “▇▇▇▇ of sale” or “assignment” of the assets and interests referenced herein.

  • Shift Assignment Should the University elect to establish a shift on any other schedule than the regular day shift (Monday through Friday) or to assign employees to work on any such shift, the employee(s) with the most seniority in the classification affected or to be assigned on such shift shall have preference in moving to such shift. If an insufficient number of employees in the classification elect to move to such shift, then the employee(s) with the least seniority in the classification shall be assigned to such shift. If positions or shifts are reduced or eliminated or movement of personnel to other shifts is required, then the seniority of the affected employee will prevail in the selection of shift, provided the affected employee can do the required work. Such shift preference is only applicable within the employee's classification.

  • Void Assignment Any sale, exchange or other transfer by any Member of any Units or other interests in the Company in contravention of this Agreement shall be void and ineffectual and shall not bind or be recognized by the Company or any other party.