Common use of Assignment by Parent Clause in Contracts

Assignment by Parent. The Parent may assign its rights under -------------------- this Agreement to an affiliate, and an affiliate may assign its rights under this Agreement to another affiliate of the Parent or to the Parent; provided, however, that no assignment shall be made if the net worth of the assignee is less than the net worth of the Parent at the time of assignment. In the case of any such assignment, the term "Parent" when used in a section of this Agreement shall mean the corporation that actually employs the Employee.

Assignment by Parent. The Parent may assign its rights under this -------------------- this Agreement to an affiliate, and an affiliate may assign its rights under this Agreement to another affiliate of the Parent or to the Parent; provided, -------- however, that no assignment shall be made if the net worth of the assignee is ------- less than the net worth of the Parent at the time of assignment. In the case of any such assignment, the term "Parent" when used in a section of this Agreement shall mean the corporation that actually employs the Employee.