Assignment by Client; Release Sample Clauses
The "Assignment by Client; Release" clause governs the conditions under which a client may transfer their rights or obligations under an agreement to another party and the circumstances in which the client may be released from further responsibilities. Typically, this clause requires the client to obtain the other party's written consent before assigning the contract, and may specify that upon a valid assignment, the client is released from future liabilities related to the agreement. Its core function is to control changes in contractual parties, ensuring that the original party cannot unilaterally transfer obligations without oversight, thereby protecting the interests of the non-assigning party and maintaining contractual stability.
Assignment by Client; Release. Client may assign its obligations under this Agreement to any affiliated company, provided Client, or its controlling shareholders and/or management (officers and directors), maintain control of such new company. Assignment by Client must be approved by RDR prior to assignment.