Common use of Assignment and Consent Clause in Contracts

Assignment and Consent. This Agreement shall bind the respective successors and assigns of the parties hereto, provided however, that neither party may assign or otherwise transfer or delegate its rights or obligations hereunder to a third party without the prior written consent of the other party hereto; provided further, that no such consent shall be required for assignment to an Affiliate or for assignment to a successor to the business in the case of transfer of all of Buyer's U.S. Plants or all of Seller's ethylene production facilities in a single transaction, so long as such assignee executes a written assumption of such party's obligations hereunder with respect to the rights or obligations assigned in a form reasonably satisfactory to the other party and delivers such written assumption to the other party within a reasonable period of time after the effective date of such assignment. Buyer represents that it shall assign all of its rights and obligations under this Agreement only to a transferee of all of Buyer's U.S. Plants in a single transaction. Any permitted assignment shall not relieve the assignor of its obligations hereunder. Any attempted assignment without such consent as may be required by this provision shall be void.

Assignment and Consent. This Agreement shall bind the respective successors and assigns of the parties hereto, provided however, that neither party may assign or otherwise transfer or delegate its rights or obligations hereunder to a third party without the prior written consent of the other party hereto; provided further, that no such consent shall be required for assignment to an Affiliate or for assignment to a successor to the business in the case of transfer of all of Buyer's ’s U.S. Plants or all of Seller's ’s ethylene production facilities in a single transaction, so long as such assignee executes a written assumption of such party's ’s obligations hereunder with respect to the rights or obligations assigned in a form reasonably satisfactory to the other party and delivers such written assumption to the other party within a reasonable period of time after the effective date of such assignment. Buyer represents that it shall assign all of its rights and obligations under this Agreement only to a transferee of all of Buyer's U.S. ’s U. S. Plants in a single transaction. Any permitted assignment shall not relieve the assignor of its obligations hereunder. Any attempted assignment without such consent as may be required by this provision shall be void.