NO ASSIGNMENT; BINDING EFFECT AND BENEFITS Clause Samples

NO ASSIGNMENT; BINDING EFFECT AND BENEFITS. No party may assign its rights or (except as set forth herein) delegate its obligations hereunder without the written consent of the other parties hereto, and any attempt to do so shall be wholly void; provided that it is hereby acknowledged and agreed that the Buyer may assign its rights to VSVR as contemplated by the Purchase Agreement without any such consent and that the Seller may assign its right to receive any portion of the Escrow Funds to GTI. This Agreement shall bind and inure to the benefit of the parties hereto and their respective successors and permitted assigns (including, without limitation, VSVR). Nothing herein is intended to or shall confer any rights or remedies on any Person other than the parties hereto and VSVR. Notwithstanding the above, the parties agree that any successor to the corporate trust business of the Escrow Agent, whether by merger, acquisition, or otherwise, automatically shall become the Escrow Agent hereunder without the need for further consent or documentation.