ASSIGNMENT, ALTERATION AND SUBSTITUTION Clause Samples
The ASSIGNMENT, ALTERATION AND SUBSTITUTION clause governs whether and how a party may transfer its rights or obligations under the agreement to another party, or make changes to the terms or parties involved. Typically, this clause sets out conditions under which assignments are permitted, such as requiring prior written consent, and may also address the process for amending the contract or substituting one party for another. Its core function is to maintain control and stability in contractual relationships by preventing unauthorized changes or transfers that could affect the interests of the original parties.
ASSIGNMENT, ALTERATION AND SUBSTITUTION. 8.1 The Contractor agrees that this Contract, or any part thereof, shall not be assigned, altered or subcontracted without the prior written consent of the Authority.
8.2 From time to time, the Authority may require the addition or reduction of areas to be cut, and reserves the right to negotiate a satisfactory agreement to compensate for changes to the initial contract. If a satisfactory agreement cannot be reached, the Contractor or the Authority may mutually agree to cancel the contract without penalty.
8.3 No alteration or amendment of this Contract shall take effect unless the same is in writing, duly executed by each of the parties in the same manner as this Contract.
ASSIGNMENT, ALTERATION AND SUBSTITUTION. 4.40.1 The Contractor agrees that this agreement, or any part thereof, shall not be assigned, altered or subcontracted without the prior written consent of TOARC, which approval may be withheld by TOARC in its sole discretion.