Common use of Nonassignability and Binding Effect Clause in Contracts

Nonassignability and Binding Effect. This Agreement and the Representatives constitute the compl te and exclusive understanding and agreement of the parties and supersedes all prior understandings and agreements, whether written or oral, with respect to the subject matter hereof. Any waiver, modification or amendment of any provision of this Agreement will be effective only if in writing and signed by both parties hereto. Owner shall not assign this Agreement, in whole or in part, to any third party without the prior written consent of the Representatives; provided, however, that either party may, without the other party’s prior written consent, assign this Agreement to a successor in interest to the entire business or assets of the assigning party or to a majority-owned subsidiary. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their permitted successors and assigns.