Common use of Severability; Assignment Clause in Contracts

Severability; Assignment. (a) If any portion of this Agreement is held invalid or unenforceable by a court of competent jurisdiction, such portion shall be deemed deleted as though it had never been included herein, but the remainder of this Agreement shall remain in full force and effect. (b) This Agreement shall not be assignable by the Employee without the consent of the Company except pursuant to the laws of descent and distribution and then only for purposes of enforcing the Employee's rights under Section 7 and shall be assignable by the Company only with the consent of the Employee; PROVIDED, HOWEVER, that the Company may assign its rights and obligations under this Agreement without consent of the Employee in the event that the Company shall effect a reorganization or consolidate or merge with, sell all or substantially all of its equity or assets to, or enter into any other transaction with, any other entity.

Severability; Assignment. (a) If any portion of this Agreement is held invalid or unenforceable by a court of competent jurisdiction, such portion shall be deemed deleted as though it had never been included herein, but the remainder of this Agreement shall remain in full force and effect. (b) This Agreement shall not be assignable by the Employee without the consent of the Company except pursuant to the laws of descent and distribution and then only for purposes of enforcing the Employee's ’s rights under Section 7 5 and shall be assignable by the Company only with the consent of the Employee; PROVIDEDprovided, HOWEVERhowever, that the Company may assign its rights and obligations under this Agreement Agreement, by its own action or by operation of law, and without consent of the Employee Employee, in the event that the Company shall effect a reorganization or consolidate or merge with, sell sale of all or substantially all of its equity assets or assets tostock or a reorganization or consolidate, merge, or enter into any other transaction with, with any other entity, so long as the buyer or successor entity assumes all of the Company’s obligations hereunder by its own action or by operation of law.

Severability; Assignment. (a) If any portion of this Agreement is held invalid or unenforceable by a court of competent jurisdiction, such portion shall be deemed deleted as though it had never been included herein, but the remainder of this Agreement shall remain in full force and effect. (b) This Agreement shall not be assignable by the Employee without the consent of the Company except pursuant to the laws of descent and distribution and then only for purposes of enforcing the Employee's rights under Section 7 and shall be assignable by the Company only with the consent of the Employee; PROVIDEDprovided, HOWEVERhowever, that the Company may assign its rights and obligations under this Agreement without consent of the Employee in the event that the Company shall effect a reorganization or consolidate or merge with, sell all or substantially all of its equity or assets to, or enter into any other transaction with, any other entity.