Assignment; Purchaser Designees. Except as provided by the last sentence of this Section 13.2, neither this Agreement nor any of the rights or obligations of the Parties may be assigned by Purchaser or Parent without the prior written consent of the other Party. This Agreement shall be binding upon, and inure to the benefit of and be enforceable by, the Parties and their respective successors and permitted assigns. Any attempted assignment in violation of this Section 13.2 shall be void. Notwithstanding the foregoing, prior to the Closing, Purchaser may designate, upon written notice to Parent, one or more of its Subsidiaries to, at the Closing (a) acquire all or part of the Acquired Assets or Purchased Equity Interests, (b) assume all or part of the Assumed Liabilities or (c) pay a designated portion of the Purchase Price; provided, however, that no such designation shall relieve Purchaser of any of its obligations hereunder to the extent that any such designee does not perform such obligations.
Appears in 3 contracts
Sources: Stock and Asset Purchase Agreement, Stock and Asset Purchase Agreement (Stanley Black & Decker, Inc.), Stock and Asset Purchase Agreement (Newell Brands Inc)