Event of Assignment Clause Samples
The Event of Assignment clause defines the circumstances under which one party may transfer its rights or obligations under the contract to another party. Typically, this clause outlines the conditions that must be met for an assignment to occur, such as requiring prior written consent from the non-assigning party or specifying certain events that trigger the right to assign. By establishing clear rules for assignment, this clause helps prevent unauthorized transfers and ensures that all parties are aware of and agree to any changes in contractual relationships, thereby maintaining control and stability within the agreement.
Event of Assignment. A Customer Agreement shall be assigned from Reseller to Dell, in accordance with the terms of this Clause 6.3.2., if any of the following occurs: (i) an Event of Default by Distributor or Reseller, pursuant to Clause 6.3.1.A.(i), (ii) or (iii) of this Agreement, is declared by Dell; (ii) Customer Bankruptcy as to the Customer that is party to the Customer Agreement; (iii) a Customer’s uncured failure to pay for the APEX Service when due occurs within the first six (6) calendar months of the Subscription Term (“Customer Non-Payment Event”); (iv) Customer is in default of the Customer Agreement due to an uncured failure to make any payment when due and Dell has determined in its commercially reasonable discretion that its ability to collect from the Customer will be materially impacted by delaying any further, and Dell has requested and Distributor and Reseller have consented to such assignment; or, (v) if Dell, Distributor, and Reseller otherwise agree to such assignment of the Customer Agreement, and Customer consents to such assignment, in writing.
Event of Assignment. A Customer Agreement shall be assigned to Dell, subject to and in accordance with the terms of this Clause 6.3.2, if any of the following occur: (i) an Event of Default pursuant to Clause 6.3.1.A. (i), (ii) or (iii) of this Agreement, is declared by Dell; (ii) Customer Bankruptcy as to the Customer that is party to the Customer Agreement;
Event of Assignment. The Customer Agreement shall be assigned from Reseller to Dell if an Event of Default pursuant to Section 6.3.A.(c)(iii) (“Material Decline in Financial Condition of Customer”) occurs in regard to the Customer that is party to the Customer Agreement, and only if all the requirements of this Clause 6.3.C. have been met. Upon such assignment of the Customer Agreement: (i) You shall have no, and shall ensure that Reseller has no, rights in any amounts Dell receives or recovers from the Customer; (ii) Dell will excuse You from Your obligation to pay the APEX Service fees for the remainder of the Subscription Term and, by notice in writing to You, Dell will declare immediately due and payable, and You shall be obliged to pay immediately, all past due APEX Service fees and other past due amounts; (iii) Dell may, in its sole discretion, declare payable, and in such case You shall be obligated to pay within the time period designated by Dell, any or all rebates, as determined by Dell, You receive from Dell related to Your sale of the APEX Service to the Reseller; and (iv) You shall, and will ensure that Reseller shall, cooperate with Dell and provide all necessary assistance in Dell’s efforts to both collect the fees owed by Customer and repossess equipment. For clarification, the parties agree that, as ▇▇▇▇▇▇▇▇’s assignee of the Customer Agreement, Dell is not responsible for any of Reseller’s payment or any other obligation to You under the Reseller Agreement.
Event of Assignment. If Tenant is a corporation, dissolution of the corporation or a transfer (by one or more transactions) of a majority of the voting stock of Tenant is an assignment of this Lease. If Tenant is a partnership, dissolution of the partnership or a transfer (by one or more transactions) of the controlling interest in Tenant is an assignment of this Lease. If Tenant is a limited liability company, conveyance of an economic interest of greater than fifty percent (50%) is an assignment of this Lease. Assignments defined in this Paragraph 9.5 require State's consent under Paragraph 9.1.
Event of Assignment. If Tenant is a corporation, dissolution of the corporation or a transfer (by one or more transactions) of a majority of the voting stock of Tenant is an assignment of this Lease. If Tenant is a partnership, dissolution of the partnership or a transfer (by one or more transactions) of the controlling interest in Tenant is an assignment of this Lease.