Common use of Successions or Assignments Clause in Contracts

Successions or Assignments. This Agreement is binding upon each of the Parties and their respective successors and permitted assigns. No Party may assign or otherwise transfer this Agreement to any third party, whether by operation of law or otherwise, without the prior written consent of the other Parties; provided that notwithstanding the foregoing, Sellers may assign or transfer its rights under this Agreement to the party to whom Sellers have made an assignment or transfer permitted to be made by them under the MIPA and Contractor may assign or transfer its rights under this Agreement to the party to whom Contractor has made an assignment or transfer permitted to be made by it under the EPC Contract. Any Party assigning this Agreement as set forth in this Section 7.1 shall deliver written notice of such assignment to the other Parties as soon as reasonably practicable. Any authorized assignment of this Agreement by any Party shall relieve such Party of its obligations hereunder at such time as the authorized successor agrees in writing to be bound by such assigning Party’s obligations hereunder. Any purported assignment of this Agreement in violation of this Section 7.1 is void.