Common use of PARTIES BENEFITED; ASSIGNMENTS Clause in Contracts

PARTIES BENEFITED; ASSIGNMENTS. This Agreement shall be binding upon the Executive, his heirs and his personal representative or representatives, and upon the Company and Los Angeles and their respective successors and assigns. Neither this Agreement nor any rights or obligations hereunder may be assigned by the Executive, other than by will or by the laws of descent and distribution. From and after the consummation of the Capstar Merger, all rights and obligations of the Company under this Agreement shall be assigned to and assumed by the New Chancellor. The consummation of the Capstar Merger shall not constitute a Change in Control.

PARTIES BENEFITED; ASSIGNMENTS. This Agreement shall be binding upon the Executive, his heirs and his personal representative or representatives, and upon the Company and Los Angeles and their respective successors and assigns. Neither this Agreement nor any rights or obligations hereunder may be assigned by the Executive, other than by will or by the laws of descent and distribution. From and after the consummation of the Capstar Merger, all rights and obligations of the Company under this Agreement shall be assigned to and assumed by the New Chancellor and the term Company shall mean New Chancellor. The consummation of the Capstar Merger shall not constitute a Change in Control.