Common use of Assignment and Waiver Clause in Contracts

Assignment and Waiver. Neither party may assign this Agreement without the written permission of the other party. Any assignment by Group without BCN's written permission shall be deemed a voluntary termination of this Agreement by Group. The waiver by a party of any breach of this Agreement by the other party shall not constitute a waiver of any subsequent breach of this Agreement. The Group will immediately notify BCN in writing of any Change in Control, any change in Group's name, identity, ownership, or legal organizational structure, any change in, or addition to, a location of Group's place of business, and any merger, combination, sale of assets, or other similar material transaction in which Group is involved. For purposes of this Agreement, a "Change in Control" shall be deemed to be an assignment requiring BCN's consent and shall mean an event resulting in a change in the beneficial ownership of Group of 50% or more immediately after the event compared to one year before the event. "Beneficial ownership" means actual ownership or the right, directly or indirectly, to control voting power associated with ownership interests in Group.