Common use of Assignee’s Obligations Clause in Contracts

Assignee’s Obligations. As of the Effective Date, Assignee covenants and agrees to be named party to the Severance Agreement and to fully perform, discharge and observe all covenants, agreements, obligations and provisions to be performed, discharged or observed by the Corporation under the Severance Agreement, the whole to the same extent and effect as if the Assignee had been an original party to the Severance Agreement, in the place and stead of the Corporation.