Common use of Modification; Assignment Clause in Contracts

Modification; Assignment. No amendment or other modification, rescission, release, or assignment of any part of this Agreement shall be effective except pursuant to a written agreement subscribed by the duly authorized representatives of the parties hereto. Notwithstanding the foregoing, the Assuming Bank shall be entitled to assign any of its rights or obligations under this Agreement to any Subsidiary of the Assuming Bank, except to the extent that any such assignment is not permitted under applicable law.

Modification; Assignment. No amendment or other modification, rescission, release, or assignment of any part of this Agreement shall be effective except pursuant to a written agreement subscribed by the duly authorized representatives of the parties hereto. Notwithstanding the foregoing, This Agreement shall be automatically assigned and assumed in connection with a merger or consolidation of the Assuming Bank shall be entitled to assign any with and into another financial institution or the sale of its rights all or obligations under this Agreement to any Subsidiary substantially all of the assets of the Assuming Bank, except Bank to the extent that any such assignment is not permitted under applicable lawanother financial institution.