Common use of Successor; Assignment Clause in Contracts

Successor; Assignment. The Agreement is confidential and personal and neither of the parties hereto shall, without the consent of the other, assign or transfer this Agreement or any rights or obligations hereunder. Without limiting the foregoing, the Executive's right to receive payments hereunder shall not be assignable or transferable whether by pledge, creation of a security interest or otherwise, other than a transfer by your will or by the laws of descent distribution. In the event of any attempted assignment or transfer contrary to this paragraph, the Company shall have no liability to pay the assignee or transferee any amount so attempted to be assigned or transferred. The Agreement shall be binding upon any successor of the Company, its assets, or its business, subsidiaries, affiliates (whether direct or indirect, by purchase, merger, consolidation or otherwise). In the event that any successor fails to agree in writing to assume this Agreement prior to the effective date of such event, then all entitlements in this Agreement cash or otherwise shall be immediately payable in full by the Company at such time of event notwithstanding any other provisions in this Agreement to the contrary.

Successor; Assignment. The Agreement is confidential and personal and neither of the parties hereto shall, without the consent of the other, assign or transfer this Agreement or any rights or obligations hereunder. Without limiting the foregoing, the Executive's right to receive payments hereunder shall not be assignable or transferable transerable whether by pledge, creation of a security interest or otherwise, other than a transfer by your will or by the laws of descent distribution. In the event of any attempted assignment or transfer contrary to this paragraph, the Company shall have no liability to pay the assignee or transferee any amount so attempted to be assigned or transferred. The Agreement shall be binding upon any successor of the Company, its assets, or its business, subsidiaries, affiliates (whether direct or indirect, by purchase, merger, consolidation or otherwise). In the event that any successor fails to agree in writing to assume this Agreement prior to the effective date of such event, then all entitlements in this Agreement cash or otherwise shall be immediately payable in full by the Company at such time of event notwithstanding any other provisions in this Agreement to the contrary.