Except for a Transfer Sample Clauses
The "Except for a Transfer" clause defines an exception to a general rule or restriction, specifically allowing certain actions or rights in the context of a transfer. In practice, this means that while a party may be prohibited from assigning, sublicensing, or otherwise transferring their rights or obligations under an agreement, such actions may be permitted if they occur as part of a broader transfer, such as a merger, acquisition, or sale of substantially all assets. This clause ensures that necessary business transactions can proceed without breaching the contract, thereby providing flexibility for organizational changes while maintaining the integrity of the agreement's original restrictions.
Except for a Transfer permitted under Section 4.1, neither this Agreement nor any of the rights, interests, or obligations hereunder shall be assigned by the Parties, in whole or in part (whether by operation of Law or otherwise), without the prior written consent of the other Parties, and any attempted or purported assignment without such consent shall be null and void. Subject to the preceding sentence, this Agreement shall be binding upon, inure to the benefit of, and be enforceable by the Parties and their respective successors and assigns.
Except for a Transfer among the original owners who were granted the franchise hereunder or a Transfer from an original owner to that owner's spouse or child(ren), Franchisor shall have the right and option, exercisable within sixty (60) days after receipt of written notification and receipt of any required information or documentation, to send written notice to the seller that Franchisor intends to purchase the seller's interest on the same terms and conditions contained in a bona fide offer from the third party, or the ---- ---- cash equivalent. In the event that Franchisor elects to purchase the seller's interest, closing on such purchase must occur within sixty (60) days from the date of notice to the seller of the election to purchase by Franchisor. In the event that Franchisor does not elect to purchase the sellers' interest, closing on such purchase shall occur within ninety (90) days after the expiration of Franchisor's right to purchase. Failure to close the sale within said period or any material change in the terms of the offer prior to closing shall constitute a new offer subject to the same rights of first refusal by Franchisor described in this Section 13.3.