Common use of ASSIGNMENT AND TRANSFER OF MEMBERSHIP AND MEMBERSHIP STATUS Clause in Contracts

ASSIGNMENT AND TRANSFER OF MEMBERSHIP AND MEMBERSHIP STATUS. Member may not assign or delegate any of its rights or obligations under this Agreement or transfer Member’s membership to any other entity without SDLC’s prior written consent. Any attempted assignment or transfer in violation of this provision will be null and void. If SDLC agrees to Member’s assignment of this Agreement, in order for the assignment and transfer to be effective, the assignee entity must agree to abide by the terms of this Agreement and assume all of Member’s obligations under this Agreement. In the event a Member merges with, or is acquired by, a non-member, that non-Member is subject to, and must honor, this Agreement and other terms and conditions of membership.

ASSIGNMENT AND TRANSFER OF MEMBERSHIP AND MEMBERSHIP STATUS. Member may not assign or delegate any of its rights or obligations under this Agreement or transfer Member’s membership to any other entity without SDLC’s prior written consent. Any attempted assignment or transfer in violation of this provision will be null and void. If SDLC agrees to Member’s assignment of this Agreement, in order for the assignment and transfer to be effective, the assignee entity must agree to abide by the terms of this Agreement and assume all of Member’s obligations under this Agreement. In the event a Member merges with, or is acquired by, a non-member, that non-non- Member is subject to, and must honor, this Agreement and other terms and conditions of membership.