Common use of NO ASSIGNMENT WITHOUT PERMISSION Clause in Contracts

NO ASSIGNMENT WITHOUT PERMISSION. Other than in connection with an assignment to a wholly owned subsidiary of the Competitive Supplier or to a wholly owned subsidiary of the Competitive Supplier’s parent company, Competitive Supplier shall not assign its rights and privileges under this Agreement without the prior written approval of the Town, such assignment not to be unreasonably withheld. The Town may assign this Agreement without the prior consent of Competitive Supplier provided that the proposed assignee has at least the same creditworthiness as the Town and such assignment would not in any way impair the rights and interests of Competitive Supplier under this Agreement. The rights and obligations created by this Agreement shall inure to the benefit of, and be binding upon, the successors and permitted assigns of, the respective Parties hereto.

NO ASSIGNMENT WITHOUT PERMISSION. Other than in connection with an assignment a sale of all or substantially all of its competitive electric supply business, to a wholly owned subsidiary of the Competitive Supplier or to a wholly owned subsidiary of the Competitive Supplier’s parent company, Competitive Supplier shall not assign its rights and privileges under this Agreement without the prior written approval of the Town, such assignment not to be unreasonably withheld. The Town may assign this Agreement without the prior consent of Competitive Supplier provided that the proposed assignee has at least the same creditworthiness as the Town and such assignment would not in any way impair the rights and interests of Competitive Supplier under this Agreement. The rights and obligations created by this Agreement shall inure to the benefit of, and be binding upon, the successors and permitted assigns of, the respective Parties hereto.