Common use of ASSIGNMENTS AND CONVEYANCES Clause in Contracts

ASSIGNMENTS AND CONVEYANCES. (a) Successors and Assigns This Agreement is binding on and shall inure to the benefit of the Parties and their respective successors, permitted assigns, and legal representatives. (b) Assignment of ColumbiaGrid’s Rights and Obligations ColumbiaGrid shall not, without the prior written consent of each of the CIP-014 Transmission Owners, assign, pledge or transfer all or any part of, or any right or obligation under, this Agreement, whether voluntarily or by operation of law; provided nothing in this Agreement shall prohibit ColumbiaGrid from contracting with Third Persons for the provision of services to assist ColumbiaGrid in performing its obligations under this Agreement. (c) Assignment of a CIP-014 Transmission Owner’s Rights and Obligations Except as otherwise provided in this Agreement, a CIP-014 Transmission Owner shall not, without the prior written consent of ColumbiaGrid, assign, pledge, or transfer all or any part of, or any right or obligation under, this Agreement, whether voluntarily or by operation of law; provided however that a CIP-014 Transmission Owner may, without the consent of ColumbiaGrid, assign its rights and obligations under this Agreement to any Person (i) into which the CIP -014 Transmission Owner is merged or consolidated or (ii) to which the CIP -014 Transmission Owner sells, transfers, or assigns all or substantially all of its Electric System, so long as the survivor in any such merger or consolidation, or the purchaser, transferee, or assignee of such Electric System provides to ColumbiaGrid a valid and binding written agreement expressly assuming and agreeing to be bound by all obligations of the CIP -014 Transmission Owner under this Agreement.