Common use of Binding Effect; Modification Clause in Contracts

Binding Effect; Modification. This Agreement shall be binding on and shall inure to the benefit of the parties hereto and their successors and permitted assigns and may only be modified by written agreement of the parties. This Agreement may not be assigned, transferred, or conveyed by either party without the prior written consent of the other, which consent may be granted in such other parties’ sole and absolute discretion; provided, however, that Purchaser may assign this Agreement without Seller’s consent to any assignee of Purchaser’s right and interest in and to the Contract in accordance with the terms thereof.

Binding Effect; Modification. This Agreement shall be binding on and shall inure to the benefit of the parties hereto and their successors and permitted assigns and may only be modified by written agreement of the parties. This Agreement may not be assigned, transferred, transferred or conveyed by either party Licensee without the prior written consent of the otherLicensor, which consent may be granted in such other parties’ Licensee’s sole and absolute discretion; provided, however, that Purchaser may assign this Agreement without Seller’s consent to any assignee of Purchaser’s right and interest in and to the Contract in accordance with the terms thereof.