Common use of No Assignment or Benefit to Third Parties Clause in Contracts

No Assignment or Benefit to Third Parties. This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective successors, legal representatives and permitted assigns. No Party to this Agreement may assign any of its rights or delegate any of its obligations under this Agreement, by operation of Law or otherwise, without the prior written consent of the other Parties hereto. Nothing in this Agreement, express or implied, is intended to confer upon any Person other than ResCap, Seller, Buyer and Subsidiary and each of their respective successors, legal representatives and permitted assigns, any rights or remedies under or by reason of this Agreement; provided, that, the Buyer Indemnified Parties (solely with respect to their indemnification rights pursuant to this Agreement) and the ResCap Indemnified Parties (solely with respect to their indemnification rights pursuant to this Agreement) shall be third party beneficiaries of such Sections of this Agreement, entitled to enforce those specified provisions hereof.

Appears in 2 contracts

Samples: Purchase Agreement (Residential Capital, LLC), Purchase Agreement (Gmac LLC)

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No Assignment or Benefit to Third Parties. This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective successors, legal representatives and permitted assigns. No Party to this Agreement may assign any of its rights or delegate any of its obligations under this Agreement, by operation of Law or otherwise, without the prior written consent of the other Parties hereto. Nothing in this Agreement, express or implied, is intended to confer upon any Person other than ResCap, Seller, Buyer NewCo and Subsidiary the Subsidiaries and each of their respective successors, legal representatives and permitted assigns, any rights or remedies under or by reason of this Agreement; provided, that, the Buyer NewCo Indemnified Parties (solely with respect to their indemnification rights pursuant to this Agreement) and the ResCap Indemnified Parties (solely with respect to their indemnification rights pursuant to this Agreement) shall be third party beneficiaries of such Sections of this Agreement, entitled to enforce those specified provisions hereof.

Appears in 1 contract

Samples: Purchase Agreement (Gmac LLC)

No Assignment or Benefit to Third Parties. This Agreement shall be binding upon and inure Subject to the benefit provisions of the Parties hereto and their respective successorsSection 3.6, legal representatives and permitted assigns. No Party no party to this Agreement may assign any of its rights or delegate any of its obligations under this Agreement, by operation of Law or otherwise, without the prior written consent of the other Parties party hereto, except as provided in Section 10.6 and except that Purchaser may assign any and all of its rights under this Agreement or any Ancillary Agreement to one or more of its wholly owned subsidiaries (but no such assignment shall relieve Purchaser of any of its obligations hereunder). This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors, legal Representatives and permitted assigns. Nothing in this Agreement, express or implied, is intended to confer upon any Person Person, other than ResCapPurchaser, Seller, Buyer the Indemnified Parties and Subsidiary and each of their respective successors, legal representatives Representatives and permitted assigns, any rights legal or remedies equitable right, remedy or claim under or by reason of this Agreement; provided, that, the Buyer Indemnified Parties (solely with respect to their indemnification rights pursuant to this Agreement) and the ResCap Indemnified Parties (solely with respect to their indemnification rights pursuant to this Agreement) shall be third party beneficiaries of such Sections of this Agreement, entitled to enforce those specified provisions hereof.

Appears in 1 contract

Samples: Asset Purchase Agreement (Decode Genetics Inc)

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No Assignment or Benefit to Third Parties. This Agreement shall be binding upon and inure to the benefit of the Parties parties hereto and their respective successors, legal representatives and permitted assigns. No Party Subject to the provisions of Section 2.9, neither party to this Agreement may assign any of its rights or delegate any of its obligations under this Agreement, by operation of Law or otherwise, without the prior written consent of the other Parties party hereto, except as provided in Section 9.5 and except that each party may assign any or all of its rights under this Agreement or any Ancillary Agreement to one or more of its Affiliates (but no such assignment shall relieve such party of any of its obligations hereunder). Nothing in this Agreement, express or implied, is intended to confer upon any Person other than ResCapthe Buyer, the Seller, Buyer the Indemnified Parties and Subsidiary and each of their respective successors, legal representatives and permitted assigns, any rights or remedies under or by reason of this Agreement; provided, that, the Buyer Indemnified Parties (solely with respect to their indemnification rights pursuant to this Agreement) and the ResCap Indemnified Parties (solely with respect to their indemnification rights pursuant to this Agreement) shall be third party beneficiaries of such Sections of this Agreement, entitled to enforce those specified provisions hereof.

Appears in 1 contract

Samples: Share Purchase Agreement (Cree Inc)

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