Common use of Transfers or Assignments Clause in Contracts

Transfers or Assignments. Neither Lessee nor Licensee may sell, assign or transfer its rights and/or obligations under this Agreement without the prior written consent of the other Party, such consent not to be unreasonably withheld, conditioned or delayed. Notwithstanding the foregoing, the Parties agree that Licensee may, without the prior consent of Licensee: (i) assign any of its rights under this Agreement as collateral; or (ii) sell, assign or transfer this Agreement or any of its rights or obligations hereunder to any entity that acquires the License. Each Party shall also be entitled, without the consent of the other Party, to undertake a pro forma assignment or transfer of this Agreement. The Parties will cooperate in the preparation and submission of all applications, amendments, petitions, requests for waivers, and other documents necessary to secure any FCC approval, consent or other action required in connection with the exercise of either Party of its rights under this Section.