Common use of Exceptions to Prohibition Against Assignments Clause in Contracts

Exceptions to Prohibition Against Assignments. Either Party may, upon written notice, assign its rights and obligations hereunder, or transfer such rights and obligations by operation of law, to any entity with which or into which such Party shall merge or consolidate or to which such Party shall transfer all or substantially all of its assets or to an Affiliate, provided that such other entity agrees to be bound by the terms hereof and has the ability to satisfy the assigning Party’s obligations.

Exceptions to Prohibition Against Assignments. Either Party may, upon written notice, assign its rights and obligations hereunder, or transfer such rights and obligations by operation of law, to any entity with which or into which such Party shall merge or consolidate or to which such Party shall transfer all or substantially all of its assets or to an Affiliateassets, provided that such other entity agrees to be bound by the terms hereof and has provided further, that such other entity’s creditworthiness is comparable to or higher than that of such Party at the ability to satisfy the assigning Party’s obligationstime this Agreement was executed and such Party is not relieved of any obligation or liability hereunder as a result of such assignment.

Exceptions to Prohibition Against Assignments. Either Party may, upon written notice, assign its rights and obligations hereunder, or transfer such rights and obligations by operation of law, to any entity with which or into which such Party shall merge or consolidate or to which such Party shall transfer all or substantially all of its assets or to an Affiliateassets, provided that such other entity agrees to be bound by the terms hereof and has provided further, that such other entity’s creditworthiness is comparable to or higher than that of such Party at the ability to satisfy the assigning Party’s obligations.time this Agreement was executed and such Party is not relieved of any obligation or liability hereunder as a result of such assignment