Common use of Permitted Assignment Clause in Contracts

Permitted Assignment. Purchaser may assign its rights under this Agreement to any affiliated entity which directly or indirectly controls, is controlled by or is under common control with Purchaser, without the consent of Seller. Any other assignment by Purchaser to a non-affiliated entity shall require Seller’s prior consent, not to be unreasonably withheld, conditioned, or delayed.

Appears in 6 contracts

Samples: Equity Interests Purchase and Sale Agreement (Aspire Real Estate Investors, Inc.), Equity Interests Purchase and Sale Agreement (Aspire Real Estate Investors, Inc.), Equity Interests Purchase and Sale Agreement (Aspire Real Estate Investors, Inc.)

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Permitted Assignment. Purchaser may assign its rights under this Agreement to any affiliated entity which directly or indirectly controls, is controlled by or is under common control with Purchaser, Purchaser without the consent of Seller, on the condition that the assignee expressly assumes all of the obligations of Purchaser hereunder in a written agreement, which agreement will also set forth the assignee’s U.S. taxpayer identification number, and such written agreement is delivered to Seller prior to the Closing Date. Any other No such assignment or assumption shall relieve Purchaser or any assignee previously approved by Purchaser to a non-affiliated entity shall require Seller’s prior consent, not to be unreasonably withheld, conditioned, or delayedSeller from its obligations hereunder.

Appears in 1 contract

Samples: Purchase & Sale Agreement (Inland Residential Properties Trust, Inc.)

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