Common use of Requirements for Assignment Clause in Contracts

Requirements for Assignment. In all such events: (i) prior notice of any such assignment must be provided to the other Party; (ii) any assignee must assume expressly the assignor's obligations hereunder, provided, however, that the Project Lender under any collateral assignment for financing purposes will not be obligated to assume Lansing's obligations except as and to the extent specifically provided in such collateral assignment agreement; (iii) no assignment, whether or not consented to, will relieve the assignor of its obligations hereunder if the assignee fails to perform, unless the other Party agrees in writing in advance to waive assignor's continuing obligations pursuant to this Agreement, such waiver not to be unreasonably withheld, conditioned or delayed; and (iv) no such assignment will adversely affect the credit rating or financial security of the other Party.

Requirements for Assignment. In all such events: (i) prior notice of any such assignment must be provided to the other Party; (ii) any assignee must assume expressly the assignor's ’s obligations hereunder, provided, however, that the Project Lender under any collateral assignment for financing purposes will not be obligated to assume Lansing's Ethanol Producer’s obligations except as and to the extent specifically provided in such collateral assignment agreement; (iii) no assignment, whether or not consented to, will relieve the assignor of its obligations hereunder if the assignee fails to perform, unless the other Party agrees in writing in advance to waive assignor's ’s continuing obligations pursuant to this Agreement, such waiver not to be unreasonably withheld, conditioned or delayed; and (iv) no such assignment will adversely affect the credit rating or financial security of the other Party.