Common use of Assignment; Change in Control Clause in Contracts

Assignment; Change in Control. Seller shall not assign, sell, transfer or dispose of (in whole or in part) any of its rights or obligations under the performance of this Agreement without prior written consent of Cadence. Proceeds due or to become due under this Agreement may be assigned by Seller only with the written consent of Cadence and provided that payment to an assignee of any claim related to this Agreement shall be subject to all applicable defenses, reductions and setoffs. A “Change in Control” is defined as a change in ownership or control of twenty-five (25%) percent of the ownership of the Seller. A Change of control in Seller shall be considered an assignment subject to the provisions of this Article. Seller shall notify Cadence immediately of any change in the nature of its ownership or business or any other circumstances which may affect its performance under the Agreement. Cadence reserves the right to terminate the Agreement for default in the event such change may result in a conflict of interest or otherwise prejudice performance under this Agreement.

Assignment; Change in Control. Seller shall not assign, sell, transfer or dispose of (in whole or in part) any of its rights or obligations under the performance of this Agreement Order without prior written consent of CadencePerfekta. Proceeds due or to become due under this Agreement Order may be assigned by Seller only with the written consent of Cadence Perfekta and provided that payment to an assignee of any claim related to this Agreement Order shall be subject to all applicable defenses, reductions and setoffs. A “Change in Control” is defined as a change in ownership or control of twenty-five (25%) percent of the ownership of the Seller. A Change of control in Seller shall be considered an assignment subject to the provisions of this Article. Seller shall notify Cadence Perfekta immediately of any change in the nature of its ownership or business or any other circumstances which may affect its performance under the AgreementOrder. Cadence Perfekta reserves the right to terminate the Agreement Order for default in the event such change may result in a conflict of interest or otherwise prejudice performance under this AgreementOrder.