Common use of Prior to Closing Clause in Contracts

Prior to Closing. Buyer may not assign any rights acquired hereunder or delegate any duties assumed hereunder without the prior written consent of Seller or its respective successors and assigns; provided, however, that Buyer may assign this Agreement to any wholly owned subsidiary; and any such transfer, assignment, sublease or delegation without Seller’s consent shall be null and void, ab initio. Notwithstanding anything herein to the contrary, Buyer shall remain responsible to Seller for all obligations and liabilities under this Agreement and under the Assignment, until expressly released by Seller in writing.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Constellation Energy Partners LLC), Purchase and Sale Agreement (Constellation Energy Partners LLC)

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Prior to Closing. Buyer may not assign any rights acquired hereunder or delegate any duties assumed hereunder without the prior written consent of Seller or its respective successors and assigns; providedSeller, however, that Buyer which consent may assign this Agreement to any wholly owned subsidiary; and any such transfer, assignment, sublease or delegation without be withheld at Seller’s consent shall be null and void, ab initio. Notwithstanding anything herein to the contrary, Buyer shall remain responsible to Seller for all obligations and liabilities under this Agreement and under the Assignment, until expressly released by Seller in writingsole discretion.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Velocity Oil & Gas, Inc.)

Prior to Closing. Buyer may not assign any rights acquired hereunder or delegate any duties assumed hereunder without the prior written consent of Seller or its respective successors and assigns; provided, however, that Buyer may assign this Agreement to any wholly owned subsidiary; and any such transfer, assignment, sublease or delegation without Seller’s consent shall be null and void, ab initio. Notwithstanding anything herein to the contrary, Buyer shall remain responsible to Seller for all obligations and liabilities under this Agreement and under the AssignmentAssignment and other documents executed in connection with this Agreement, until expressly released by Seller in writing.

Appears in 1 contract

Samples: Purchase and Sale Agreement (American Midstream Partners, LP)

Prior to Closing. Buyer may not assign any rights acquired hereunder or delegate any duties assumed hereunder without the prior written consent of Seller or its respective successors and assigns; provided, however, that Buyer may assign this Agreement to any wholly owned subsidiary; and any such transfer, assignment, sublease or delegation without Seller’s consent shall be null and void, ab initio. Notwithstanding anything herein to the contrary, Buyer shall remain responsible to Seller for all obligations and liabilities under this Agreement and under the Assignment, until expressly released by Seller in writing.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Dune Energy Inc)

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Prior to Closing. Buyer may the Buyer's rights and obligations hereunder shall not assign any rights acquired hereunder or delegate any duties assumed hereunder be assignable without the prior written consent of Seller the Seller. Notwithstanding the foregoing, the Seller's consent shall not be required for any assignment by the Buyer to an entity of which the Buyer has majority ownership and control. The Buyer shall in no event be released from any of its obligations or its liabilities hereunder in connection with any assignment. Subject to the provisions of this Section, this Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective successors and assigns; provided, however, that Buyer may assign this Agreement to any wholly owned subsidiary; and any such transfer, assignment, sublease or delegation without Seller’s consent shall be null and void, ab initio. Notwithstanding anything herein to the contrary, Buyer shall remain responsible to Seller for all obligations and liabilities under this Agreement and under the Assignment, until expressly released by Seller in writing.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Pacific Gulf Properties Inc)

Prior to Closing. Buyer may not assign any rights acquired hereunder or delegate any duties assumed hereunder without the prior written consent of Seller or its respective successors and assigns; provided, however, that Buyer may assign this Agreement to any wholly owned subsidiary; and any such transfer, assignment, sublease or delegation without Seller’s consent shall be null and void, ab initio. Notwithstanding anything herein to the contrary, Buyer shall remain responsible to Seller for all obligations and liabilities under this Agreement and under the Assignment, until expressly released by Seller in writing.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Comstock Resources Inc)

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