Automatic Assignment Clause Samples
The Automatic Assignment clause stipulates that certain rights or obligations under an agreement are automatically transferred to another party without requiring additional consent or action. Typically, this applies in scenarios such as mergers, acquisitions, or internal corporate restructurings, where the contract is assigned to a successor entity by default. The core practical function of this clause is to ensure continuity of contractual relationships and avoid disruptions that could arise from needing explicit approval for each assignment, thereby streamlining business transitions and reducing administrative hurdles.
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Automatic Assignment. The process utilized by LDH to enroll Medicaid enrollees into an MCO, using predetermined algorithms, who (1) are not excluded from MCO participation and (2) do not proactively select an MCO within the LDH-specified timeframe. Basic Behavioral Health Services – Mental health and substance use services which are provided to enrollees with emotional, psychological, substance use, psychiatric symptoms and/or disorders that are provided in the enrollee’s PCP office by the enrollee’s PCP as part of primary care service activities. Basic Behavioral Health Services include, but are not limited to, screening, brief intervention and assessment, prevention, early intervention, medication management, treatment and referral services provided in the primary care setting. Basic Behavioral Health Services may further be defined as those provided in the enrollee’s PCP or medical office by the enrollee’s (non-Specialist) physician (e.g., DO, MD, APRN, PA) as part of routine physician evaluation and management activities. These services shall be covered by the Contractor for enrollees with both physical health and behavioral health coverage.
Automatic Assignment. On or about July 1, 2003, certain businesses of WSL will be transferred, assigned or otherwise conveyed (the occurrence of such event, the "Transfer") to Wachovia Capital Markets, LLC or another newly formed affiliate of WSL ("WCM"). Each of the parties hereto expressly consents to the assignment by WSL of all of its rights and obligations hereunder to WCM simultaneous with the Transfer. Each of the parties acknowledges and agrees that upon the occurrence of the Transfer, such assignment shall be effective without any further action by any of the parties hereto and from and after the Transfer: (i) WCM shall be a party hereto and shall have all rights and obligations of WSL hereunder and (ii) WSL shall cease to be a party hereto and shall be released from its obligations hereunder. If the foregoing is in accordance with your understanding of our agreement, please sign and return to us a counterpart hereof, whereupon this letter and your acceptance shall represent a binding agreement among the Company, Wachovia and the several Underwriters. Very truly yours, WACHOVIA SECURITIES, LLC By: /s/ William J. Cohane -------------------------------------- Name: William J. Cohane Title: Vice ▇▇▇▇▇▇▇▇▇ WACHOVIA BANK, NATIONAL ASSOCIATION By: /s/ Eric D. Schlotterbeck -------------------------------------- Name: Eric D. Schlotterbeck Title: ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ The foregoing Agreement is hereby confirmed and accepted as of the date first above written. WACHOVIA SECURITIES, LLC By: /s/ William J. Cohane -------------------------------------- Name: William J. Cohane Title: Mana▇▇▇▇ ▇▇▇▇▇▇▇▇ NOMURA SECURITIES INTERNATIONAL, INC. By: /s/ N. Dante LaRocca -------------------------------------- Name: N. Dante LaRocca Title: Manag▇▇▇ ▇▇▇▇▇▇▇▇ CITIGROUP GLOBAL MARKETS INC. By: /s/ Paul T. Vanderslice -------------------------------------- Name: Paul T. Vanderslice Title: Ma▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ LEHMAN BROTHERS INC. By: /s/ ▇▇▇▇▇ Kravetz -------------------------------------- Name: Larry Kravetz Title: Managing ▇▇▇▇▇▇▇▇ EXHIBIT A Computational Materials N/A EXHIBIT B Term Sheets SCHEDULE I Underwriting Agreement dated June 24, 2003:
Automatic Assignment. The enrollment of an eligible person, for whom enrollment is mandatory, in a managed care plan chosen by the New Jersey Department of Human Services pursuant to the provisions of Article 5.4 of this contract. Basic Service Area — the geographic area in which the contractor is obligated to provide covered services for its Medicaid/NJ FamilyCare enrollees under this contract. Beneficiary — any person eligible to receive services in the New Jersey Medicaid/NJ FamilyCare program Benefits Package — the health care services set forth in this contract, for which the contractor has agreed to provide, arrange, and be held fiscally responsible. Bilingual — see “Multilingual” Bonus — a payment the contractor makes to a physician or physician group beyond any salary, fee-for-service payments, capitation or returned withholding amount. Capitated Service — any covered service for which the contractor receives capitation payment Capitation — a contractual agreement through which a contractor agrees to provide specified health care services to enrollees for a fixed amount per month. Capitation Payments — the amount prepaid monthly by DMAHS to the contractor in exchange for the delivery of covered services to enrollees based on a fixed Capitation Rate per enrollee, notwithstanding (a) the actual number of enrollees who receive services from the contractor, or (b) the amount of services provided to any enrollee. Capitation Rate — the fixed monthly amount that the contractor is prepaid by the Department for each enrollee for which the contractor provides the services included in the Benefits Package described in this contract.
Automatic Assignment. Medicaid eligible persons who reside in enrollment areas that have been designated for mandatory enrollment, who qualify for disenrollment or termination becomes effective during a hospitalization, the contractor shall be liable for hospitalization until the date such person is discharged from the hospital, including any charges for readmission within forty-eight (48) hours of discharge for the same diagnosis. The contractor shall notify DMAHS within 180 days of initial hospital admission.
Automatic Assignment. 11.1 If a holder of an interest in a Stall sells all of his or her strata lot within the Strata Development to which such Stall is at such time appurtenant as shown on the register maintained under Section
16.1 without concurrently executing an assignment of such Stall to the purchaser of his or her strata lot, then the interest of such holder in such Stall will be deemed to have been automatically assigned to and assumed by the purchaser of his or her strata lot without execution of a partial assignment of this Lease with respect to such Stall or delivery of notice of such partial assignment to the Strata Corporation.
Automatic Assignment. In the event that the Service Provider’s (or its successor) engagement by CNAC (or its successor) as Canadian numbering administrator terminates for any reason, upon CNAC (or its successor) or a person selected by CNAC (or its successor) to perform the duties as Canadian numbering administration (the “Replacement Canadian Numbering Administrator”) commencing the performance of the Services, this Agreement shall be automatically assigned by the then Canadian numbering administration to the Replacement Canadian Numbering Administrator and the Replacement Canadian Numbering Administrator shall take over the rights and obligations of the CNA hereunder and any reference to the CNA hereunder shall be considered a reference to the Replacement Canadian Numbering Administrator. In such case, the then Canadian numbering administrator shall deliver to the Replacement Canadian Numbering Administrator all Confidential Information of the Service User in its possession or control or in the possession or control of any of its approved subcontractors or delegates. Each party shall, at the request of CNAC, assist and co-operate in the transition of the duties of CNA in connection with performing the Services to the Replacement Canadian Numbering Administrator.
Automatic Assignment. Medicaid eligible persons who reside in enrollment areas that have been designated for mandatory enrollment, who qualify for AFDC/TANF, New Jersey Care...Special Medicaid programs eligibility categories, NJ FamilyCare Plan A, and SSI populations, who do not meet the exemption criteria, and who do not voluntarily choose enrollment in the contractor's plan, shall be assigned automatically by DMAHS to a contractor.
Automatic Assignment. On or about June 1, 2003, Wachovia Securities, Inc. will be converted into Wachovia Securities, LLC, a Delaware limited liability company ("WSL"). The parties hereto acknowledge and agree that, as a result of such conversion, the rights and obligations of Wachovia Securities, Inc. hereunder shall become rights and obligations of WSL. On or about July 1, 2003, certain businesses of the WSL will b▇ ▇▇▇▇▇▇erred, assigned or otherwise conveyed (the occurrence of such event, the "Transfer") to Wachovia Capital Markets, LLC or another newly formed affiliate of WSL ("WCM"). Each of the parties hereto expressly consents to the assignment by WSL of all of its rights and obligations hereunder and under the Purchase Agreement to WCM simultaneously with the Transfer. Each of the parties acknowledges and agrees that upon the occurrence of the Transfer, such assignment shall be effective without any further action by any of the parties hereto and from and after the Transfer: (i) WCM shall be a party hereto and shall have all rights and obligations of WSL hereunder and under the Purchase Agreement and (ii) WSL shall cease to be a party hereto and shall be released from its obligations hereunder and under the Purchase Agreement. Please confirm that the foregoing correctly sets forth the agreement between and among the Company and the Initial Purchaser. Very truly yours, DIMON Incorporated By: /s/ Steven B. Daniels Name: Steven B. ▇▇▇▇▇▇▇ Title: Preside▇▇ ▇▇▇ ▇▇▇▇▇ ▇▇▇▇ating Officer By: /s/ James A. Cooley Name: James A. C▇▇▇▇▇ Title: Senior Vi▇▇ ▇▇▇▇▇▇▇▇▇ - Chief Financial Officer The foregoing Agreement is hereby accepted as of the date first written above WACHOVIA SECURITIES, INC. as the Initial Purchaser By: /s/ Jeff Gore Name: Jeff Gore Title: Director
Automatic Assignment. The Attachment II, Confidential Information, Intellectual Property, and Non-Compete Agreement contains assignment of all Company Intellectual Property.