Permissive Assignment Sample Clauses

A Permissive Assignment clause allows one party to transfer its rights and obligations under a contract to another party without needing the other party’s consent. In practice, this means that if a company sells part of its business or restructures, it can assign the contract to a new entity freely. This clause facilitates business flexibility and continuity by removing barriers to assignment, ensuring that contractual relationships can adapt to changes in ownership or organizational structure.
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Permissive Assignment. The above notwithstanding, upon written request Pavilion shall consent to the assignment of this Agreement and the rights to the Pavilion Software and Pavilion Technology and obligations by Pegasus indivisibly in connection with a sale or other disposition of substantially all of the assets of Pegasus to a single acquiring entity or to an entity that is the survivor of a merger with Pegasus so long as: (i) it is not a Pavilion Competitor or is in combination, cooperation, affiliation, partnership, or joint venture with an entity that is a Pavilion Competitor, provided that the restriction in this subpart (i) shall no longer apply upon: (a) Pegasus' irrevocable payment to Pavilion of the $9,500,000.00 USD Base Price; and (b) payment of $5,500,000.00 USD in royalties or the expiration of the Royalty Period, whichever occurs first; (ii) it would not result in an expansion in scope of the licenses or other rights granted under this Agreement; (iii) Pavilion does not reasonably believe the transfer would compromise the confidentiality or export control laws related to the Pavilion Software, Pavilion Technology or Confidential Information; (iv) the assignee agrees in writing to comply with all of Pegasus's obligations under, and to be bound by, this Agreement; and (v) the assignee is a financially viable entity, capable of performing the obligations of Pegasus hereunder.
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Related to Permissive Assignment

  • Teaching Assignments No employee shall be assigned to teach in a grade level and/or subject area not within the scope of his/her teaching certificate, except where a position within his/her certification is unavailable or when mutually agreed to by the affected employee and principal, or when determined necessary by the principal. Employees assigned to positions outside the scope of their certificates shall be assigned as soon as possible to positions for which they hold certification.

  • Deed; ▇▇▇▇ of Sale; Assignment To the extent required and permitted by applicable law, this Agreement shall also constitute a “deed,” “▇▇▇▇ of sale” or “assignment” of the assets and interests referenced herein.

  • Permitted Assignments A Lender may assign to an Eligible Assignee any of its rights and obligations under the Loan Documents, as long as (a) each assignment is of a constant, and not a varying, percentage of the transferor Lender’s rights and obligations under the Loan Documents and, in the case of a partial assignment, is in a minimum principal amount of $5,000,000 (unless otherwise agreed by Agent in its discretion) and integral multiples of $1,000,000 in excess of that amount; (b) except in the case of an assignment in whole of a Lender’s rights and obligations, the aggregate amount of the Commitments retained by the transferor Lender is at least $5,000,000 (unless otherwise agreed by Agent in its discretion); and (c) the parties to each such assignment shall execute and deliver to Agent, for its acceptance and recording, an Assignment and Acceptance. Nothing herein shall limit the right of a Lender to pledge or assign any rights under the Loan Documents to (i) any Federal Reserve Bank or the United States Treasury as collateral security pursuant to Regulation A of the Board of Governors and any Operating Circular issued by such Federal Reserve Bank, or (ii) counterparties to swap agreements relating to any Loans; provided, however, that any payment by Borrowers to the assigning Lender in respect of any Obligations assigned as described in this sentence shall satisfy Borrowers’ obligations hereunder to the extent of such payment, and no such assignment shall release the assigning Lender from its obligations hereunder.

  • Subletting Assignment Check the appropriate box to allow or deny the tenant to sublet the dwelling unit. If a landlord is allowing the tenant to sublet, it is important to indicate the number of days the tenant must notify the landlord of the subtenant’s contact information.

  • Overtime Assignment A. In institutional settings when the Agency determines that overtime is necessary, overtime shall be offered on a rotating basis, to the qualified employees who usually work the shift where the opportunity occurs. If no qualified employees on the shift desire to work the overtime, it will be offered on a rotating basis first to the qualified employee with the most state seniority at the work site. When there are no volunteers to work the overtime as outlined above, and/or where an emergency exists, reasonable overtime hours may be required by the Agency. Such overtime shall be assigned, on a rotating basis, first to the qualified employee with the least state seniority at the work site. This policy shall not apply to overtime work which is specific to a particular employee’s claim load or specialized work assignment or when the incumbent is required to finish a work assignment. B. In non-institutional settings, the Agency reserves the right to schedule and approve overtime. In emergency situations overtime may be approved after the fact. Required overtime that can be worked by more than one (1) employee at the work site (that which is not specific to the particular employee’s case load or specialized work assignment) will be offered on a rotating, state seniority basis. If no qualified employee volunteers for the work, or where an emergency exists, then the qualified employee with the least state seniority at the work site will be assigned on a rotating basis. C. The parties recognize that in both institutional and non-institutional settings, that the Employer has the right to require mandatory overtime where necessary; however, the Employer will not abuse the utilization of mandatory overtime.