Common use of Assignment Neither Clause in Contracts

Assignment Neither. Party may assign this Agreement without the other’s prior written consent except to a person or entity into which a Party has merged or which has otherwise succeeded to all or substantially all of a Party’s business and assets to which this Agreement pertains, by merger, reorganization, sale of assets, outstanding stock or otherwise, and which has assumed in writing or by operation of law such Party’s obligations under this Agreement. Subject to the previous sentence, the rights and liabilities of the Parties hereto will bind and inure to the benefit of their respective permitted successors, executors and administrators, as the case may be.