Common use of Assignment Defined Clause in Contracts

Assignment Defined. For the purpose of this Section, “assignment” shall include, but not be limited to, (1) a documentary assignment of Contractor’s interest in and obligations under this Agreement; (2) a sale, exchange or other transfer to a third party of substantially all of Contractor’s assets dedicated to service under this Agreement or of any processing facilities identified in Article VI currently owned by Contractor’s partners; (3) any reorganization, consolidation, merger, or other transaction to which Contractor or either of its partners are a party which results in a change of Control of Contractor (e.g., the inclusion of a new partner); (4) any combination of the foregoing, whether or not in related or contemporaneous transactions which results in a change of Control of Contractor. A merger of Greenwaste Recovery, Inc. and Zanker Road Resource Management, Ltd., shall not constitute an “assignment” requiring the City’s approval. However, Contractor shall provide City at least 90 days notice of such a proposed merger and the consolidated entity shall provide City a new Guaranty substantially in the form of Attachment M within two business days after the merger or consolidation.

Assignment Defined. For the purpose of this Section, “assignment” shall include, but not be limited to, (1) a documentary assignment of Contractor’s interest in and obligations under this Agreement; (2) a sale, exchange or other transfer to a third party of substantially all of Contractor’s assets dedicated to service under this Agreement or of any processing facilities identified in Article VI currently owned by Contractor’s partners; (3) any reorganization, consolidation, merger, or other transaction to which Contractor or either of its partners are a party which results in a change of Control of Contractor (e.g., the inclusion of a new partner); (4) any combination of the foregoing, whether or not in related or contemporaneous transactions which results in a change of Control of Contractor. A merger of Greenwaste GreenWaste Recovery, Inc. and Zanker Road Resource Management, Ltd., shall not constitute an “assignment” requiring the City’s approval. However, Contractor shall provide City at least 90 days notice of such a proposed merger and the consolidated entity shall provide City a new Guaranty substantially in the form of Attachment M within two business days after the merger or consolidation.