Common use of Assignment to Subsidiary Clause in Contracts

Assignment to Subsidiary. Notwithstanding section 51, either party may, upon giving written notice to the other, assign this Agreement to a limited company of which he is the holder of all the issued and outstanding shares and, in such case, such assignee shall have and may exercise all the rights, and shall assume all the obligations of the assignor pursuant to the Agreement and any reference to the assignor in this Agreement shall be deemed to refer to such assignee.

Assignment to Subsidiary. Notwithstanding section 5154, either party may, upon giving written notice to the other, assign this Agreement to a limited company of which he is the holder of all the issued and outstanding shares and, in such case, such assignee shall have and may exercise all the rights, and shall assume all the obligations of the assignor pursuant to the this Agreement and any reference to the assignor in this Agreement shall be deemed to refer to such assignee.