Common use of Assignment of Rights and Duties Clause in Contracts

Assignment of Rights and Duties. Any and all of the rights, powers and reservations of DECLARANT herein contained may be assigned to any person, corporation or association which will assume the duties of DECLARANT pertaining to the particular rights, powers and reservations assigned, and upon any such person, corporation or association's evidencing its consent in writing to accept such assignment and assume such duties, he or it shall, to the extent of such assignment, have the same rights and powers and be subject to the same obligations and duties as are given to and assumed by DECLARANT herein. The term DECLARANT as used herein includes all such assignees and their heirs, successors and assigns. If at any time DECLARANT ceases to exist and has not made such an assignment, a successor DECLARANT may be appointed in the same manner as the VALENCIA INDUSTRIAL CENTER RESTRICTIONS may be terminated, extended, modified or amended under Section 6.2 of Article Vi. Any assignment or appointment made under this section shall be in recordable form and shall be recorded in the County where the real property affected is situated.

Assignment of Rights and Duties. Any and all of the rights, powers and reservations of DECLARANT herein contained may be assigned to any person, corporation or association which will assume the duties of DECLARANT pertaining to the particular rights, powers and reservations assigned, and upon any such person, corporation or association's evidencing its consent in writing to accept such assignment and assume such duties, he or it shall, to the extent of such assignment, have the same rights and powers and be subject to the same obligations and duties as are given to and assumed by DECLARANT herein. The term DECLARANT as used herein includes all such assignees and their heirs, successors and assigns. If at any time DECLARANT ceases to exist and has not made such an assignment, a successor DECLARANT may be appointed in the same manner as the VALENCIA INDUSTRIAL CENTER RESTRICTIONS may be terminated, extended, modified or amended under Section 6.2 of Article ViVI. Any assignment or appointment made under this section shall be in recordable record- able form and shall be recorded in the County where the real property affected is situated.