Common use of LIMITATIONS REGARDING ASSIGNMENT: TRANSFER OF CONTROL Clause in Contracts

LIMITATIONS REGARDING ASSIGNMENT: TRANSFER OF CONTROL. 14.1 The Licensee shall not either directly or indirectly assign, delegate, transfer or encumber in any manner, the rights, interests, or obligations under this License without the prior express and written consent of the Licensor. The Licensor shall not unreasonably withhold or delay to provide consent sought under this clause. 14.2 Where the nature of transaction sought to be entered into by the Licensee materially results into a change in control of the Licensee, the Licensor shall only consent to such change after: i. The Licensor is satisfied that the Licensee and the person to whom the License is sought to be transferred have satisfied the obligations under Section 42 of the Act and Regulations. ii. Payment of the transfer fees prescribed in Schedule C. iii. Satisfying the Licensor that the transfer shall not result into a breach of the provisions of the Act and the Regulations on fair competition.

LIMITATIONS REGARDING ASSIGNMENT: TRANSFER OF CONTROL. 14.1 13.1 The Licensee shall not either directly or indirectly assign, delegate, transfer or encumber in any manner, the rights, interests, or obligations under this License without the prior express and written consent of the Licensor. The Licensor shall not unreasonably withhold or delay to provide consent sought under this clause. 14.2 13.2 Where the nature of transaction sought to be entered into by the Licensee materially results into a change in control of the Licensee, the Licensor shall only consent to such change after: i. The Licensor is satisfied that the Licensee and the person to whom the License is sought to be transferred have satisfied the obligations under Section 42 of the Act and Regulations. ii. Payment of the transfer fees prescribed in Schedule C. iii. Satisfying the Licensor that the transfer shall not result into a breach of the provisions of the Act and the Regulations on fair competition.