Assignment Neither. party hereto shall assign any of its rights and obligations under this Agreement to any third party without the prior written consent of the other party which will not be unreasonably withheld. However, no consent is required for an assignment or transfer in whole or in part by Philips to an Affiliated Company, provided that such Affiliated Company is not a direct competitor of Supplier and Philips notifies Supplier, of such assignment or transfer in writing.
Appears in 2 contracts
Sources: Intellectual Property Transfer and License Agreement (NXP Semiconductors N.V.), Intellectual Property Transfer and License Agreement (NXP Semiconductors N.V.)