Restrictions on Assignment Clause Samples
The "Restrictions on Assignment" clause limits the ability of one or both parties to transfer their rights or obligations under the contract to another party without prior consent. Typically, this means that a party cannot sell, assign, or delegate its interests in the agreement to a third party unless the other party agrees in writing. For example, a business cannot assign its contractual duties to a new owner after a merger without approval. This clause serves to protect the parties from being forced into a contractual relationship with an unknown or potentially unsuitable third party, thereby maintaining control and stability in the contractual arrangement.
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Restrictions on Assignment. This Agreement shall not be assigned in whole or in part by any Party without the prior written consent of the other Party.
Restrictions on Assignment. Unless otherwise provided in the articles or bylaws, a would-be contributor's rights under a contribution agreement may not be assigned, in whole or in part, to a person who was not a member at the time of the assignment, unless all the members approve the assignment by unanimous written consent.
Restrictions on Assignment. Consultant may not assign or otherwise transfer his rights or delegate its obligations created hereunder to any third party without the prior written consent of the Company. Notwithstanding the foregoing, this Agreement shall bind and inure to the benefit of the successors and assigns of the parties.
Restrictions on Assignment. Subject to the remainder of this Section 17(a), this Agreement may not be assigned in whole or in part by either Party without the prior written consent of the other Party, which consent may not be unreasonably withheld or delayed. Purchaser may not withhold its consent to an assignment proposed by Seller where the proposed assignee has the financial capability and experience necessary to operate and maintain solar photovoltaic systems such as the System.
Restrictions on Assignment. Except as expressly provided in this Article and in Section 1.1 above, no Party may transfer this Agreement or any of its rights hereunder or interest(s) in the leases dedicated hereunder. Any transfer or attempted transfer not in accordance with this Agreement shall be wholly void and shall not be recognized for any purpose, and the party attempting the transfer shall remain liable and a party hereto just as if no attempted transfer had been made, and all of the parties shall continue to deal with the party purporting to transfer to the exclusion of the purported transferee.
Restrictions on Assignment. This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, personal representatives, successors, and assigns. This Stock Award may not be sold, assigned, given, exchanged, pledged, hypothecated or otherwise transferred by Awardee except by will or the laws of descent and distribution or with the written consent (executed in ink on paper) of the Administrator. The certificates described in Section 2(c) above may be issued only to (i) Awardee, (ii) the executor or administrator of Awardee’s estate (or, if Awardee has designated a beneficiary in accordance with Section 17 of the Plan, such beneficiary) following his or her death, or (iii) the guardian of Awardee’s property if one is appointed by reason of Awardee’s Total Disability. The Company is not obligated to recognize any purported sale, assignment, gift, exchange, pledge, hypothecation or other transfer, in violation of this Section 3 and, unless it elects to do otherwise, may treat any such purported exercise, sale, assignment, gift, exchange, pledge, hypothecation or transfer as null, void, and of no effect.
Restrictions on Assignment. 20.1 This Agreement shall benefit and bind the relevant parties, their permitted assignees and their respective successors. Any reference in this Agreement to any party shall be construed accordingly.
Restrictions on Assignment. Notwithstanding clause 23.1 (Prohibition on Assignment):
Restrictions on Assignment. A Party must not Assign its obligations or rights under this Deed without first obtaining the other Party’s written consent. The other Party may impose conditions when giving its consent and the Party seeking consent must comply with those conditions.
Restrictions on Assignment. Tenant may only assign this Lease or any interest herein, subject to the prior written consent of Landlord. Landlord shall not unreasonably withhold or delay its consent, and shall grant consent if the proposed assignee is financially equal to or stronger than Tenant and has sufficient business experience to perform all the agreements, undertakings, and covenants of this Lease and all other agreements entered into by Tenant that relate to the management, operation, maintenance, construction, and restoration of the Buildings, Improvements and the Land. To assist Landlord in determining whether or not the proposed assignee is so qualified, Tenant shall furnish to Landlord at no expense to Landlord, prior to such assignment, detailed and complete financial statements of the proposed assignee, audited by a certified public accountant reasonably satisfactory to Landlord (if the proposed transferee causes its statements to be so audited in its normal course of business), together with detailed and complete information about the business of the proposed assignee, including its business experience, the use to be made of the Land, Buildings and Improvements by the proposed assignee, projections by the proposed assignee of the sources of funds to be used to repay any indebtedness of Tenant that the proposed assignee will assume or take subject to, or agree to pay to Tenant, and other claims on and requirements for such funds, together with such other information as Landlord may reasonably require to assist Landlord in determining whether or not the proposed assignee is so qualified. Landlord shall have 30 days after receipt of the information described above to notify Tenant of whether it consents or does not consent to the proposed assignment. Absent any such notification by Landlord during said 30-day period, Landlord shall be conclusively deemed to have consented to the assignment. A consent by Landlord to one assignment shall not be deemed to be a consent to any subsequent assignment. Any assignment made contrary to the terms of this subparagraph shall be null and void unless permitted by subparagraph 11.2 below.