Common use of Succession and Assignment Clause in Contracts

Succession and Assignment. A. The Agreement binds the Company’s successors and assignees to all terms and conditions herein. The Company shall not assign, subgrant, or subcontract the whole or any part of the Project or the Agreement without the prior written approval of the IEDC. B. In the event of any reorganization, transfer of assets, consolidation, merger, or dissolution, the Company must notify the IEDC in writing within thirty (30) days following the reorganization, transfer of assets, consolidation, merger, or dissolution. The Company may not, through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities, or any other voluntary action, seek to avoid the observance or performance of its obligations to the IEDC under the Agreement. C. The Company shall provide written notice to the IEDC not more than thirty (30) days after it makes or receives a proposal that would transfer its Indiana State Tax Liability obligations to a successor taxpayer. The successor taxpayer may only receive the tax credits pursuant to the Agreement upon approval by the IEDC of the transfer of the credit.

Succession and Assignment. A. The Agreement binds the Company’s successors and assignees to all terms and conditions herein. The Company shall not assign, subgrant, or subcontract the whole or any part of the Project or the Agreement without the prior written approval of the IEDC. B. In the event of any reorganization, transfer of assets, consolidation, merger, or dissolution, the Company must notify the IEDC in writing within thirty (30) days following the reorganization, transfer of assets, consolidation, mergermerg er, or dissolution. The Company may not, through any reorganization, transfer of assets, consolidation, mergermerg er, dissolution, issue or sale of securities, or any other voluntary action, seek to avoid the observance or performance of its obligations to the IEDC under the Agreement. C. The Company shall provide written notice to the IEDC not more than thirty (30) days after it makes or receives a proposal that would transfer its Indiana State Tax Liability obligations to a successor taxpayer. The successor taxpayer may only receive the tax credits pursuant to the Agreement upon approval by the IEDC of the transfer of the credit.