Common use of Agreement Binding on Parties Clause in Contracts

Agreement Binding on Parties. Except as hereinafter provided, this Agreement, and the terms, covenants, and conditions herein contained, shall inure to the benefit of and be binding upon the heirs, personal representatives, successors, and assigns of each of the parties hereto. No party may assign its rights hereunder without the prior written consent of the other parties, except that Global may assign this Agreement to or designate one or more wholly owned subsidiaries or other Affiliates to become a member of the Company. No assignment permitted hereunder shall relieve any party from any of its obligations under this Agreement. Any assignment in violation of the provisions of this Section 11.2 shall be void and shall constitute a material default under this Agreement.