Common use of Further Conditions Clause in Contracts

Further Conditions. It is a further condition hereof that before making any assignment or transfer of any interest herein, the Party proposing so to do shall be required first to settle for and discharge its portion of all obligations accrued under the terms of this Agreement as of the effective date of such assignment. In the event of an assignment of all or any interest covered hereby, such transfer shall include therein specific and definite recognition of the rights of the other Parties under this Agreement, reciting that the interest so transferred is subject hereto.

Further Conditions. It is a further condition hereof that before Before making any assignment or transfer of this Agreement or any interest rights or interests granted to such Party herein, the Party proposing so to do shall be required first to settle for and discharge its portion of all obligations accrued under the terms of this Agreement as of the effective date of such assignmentassignment all obligations then accrued under the terms of this Agreement. In the event of an assignment of all or any interest covered hereby, such transfer shall include therein specific and definite a recognition of the rights of the other Parties under Party to this Agreement, reciting that the interest so transferred is subject hereto.