Common use of Permitted Assignment by Buyer Clause in Contracts

Permitted Assignment by Buyer. Buyer shall have the right to assign this Agreement without consent of Seller (a) in connection with any merger or consolidation of the Buyer with or into another Person or any exchange of all of the common stock or other equity interests of Buyer or Buyer’s parent for cash, securities or other property or any acquisition, reorganization, or other similar corporate transaction involving all or substantially all of the common stock or other equity interests in, or assets of, Buyer, or (b) to any substitute purchaser of the Products so long as (i) in the case of clause (a) of this Section 14.4, either (1) the proposed assignee’s credit rating for unsecured, senior long-term debt obligations is at least either BBB- from S&P or Baa3 from Xxxxx’x, or (2) the proposed assignee’s credit rating is equal to or better than that of Buyer at the time of the proposed assignment, or (3) such assignment has been approved by the MDPU or the appropriate Governmental Entity with jurisdiction over such transaction, or (ii) in the case of clause (b) of this Section 14.4, the proposed assignee has a credit rating that is at least Investment Grade and is regulated by the MDPU or another Governmental Agency that approves the recovery in rates of amounts expended under this Agreement.

Permitted Assignment by Buyer. Buyer shall have the right to assign this Agreement without consent of Seller (a) in connection with any merger or consolidation of the Buyer with or into another Person or any exchange of all of the common stock or other equity interests of Buyer or Buyer’s parent for cash, securities or other property or any acquisition, reorganization, or other similar corporate transaction involving all or substantially all of the common stock or other equity interests in, or assets of, Buyer, or (b) to any substitute purchaser of the Products so long as (i) in the case of clause (a) of this Section 14.4, either (1) the proposed assignee’s credit rating for unsecured, senior long-term debt obligations is at least either BBB- from S&P or Baa3 from Xxxxx’x, Xxxxx’x or (2) the proposed assignee’s credit rating is equal to or better than that of Buyer at the time of the proposed assignment, or (3) such assignment assignment, has been approved by the MDPU or the appropriate Governmental Entity with jurisdiction over such transaction, or (ii) in the case of clause (b) of this Section 14.4, the proposed assignee has a credit rating that is at least Investment Grade and is regulated by the MDPU or another Governmental Agency that approves the recovery in rates of amounts expended under this Agreement.