Pre-Approved Assignment Sample Clauses
The Pre-Approved Assignment clause allows certain rights or obligations under a contract to be transferred to specified parties without requiring additional consent from the other contracting party. Typically, this clause lists particular affiliates, successors, or third parties to whom assignment is automatically permitted, streamlining processes such as corporate restructuring or mergers. Its core function is to provide flexibility and efficiency in business operations by eliminating the need for repeated approvals, thereby reducing administrative delays and uncertainty.
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Pre-Approved Assignment. Each Party shall have the right, without the prior consent of the other Party, to (a) mortgage, pledge, encumber or otherwise impress a lien or security interest upon its rights and interest in and to this Agreement and (b) make a transfer pursuant to any security interest arrangement described in (a) above, including any judicial or non-judicial foreclosure and any assignment from the holder of such security interest to another Person.
Pre-Approved Assignment. (a) Any Party shall have the right without the prior consent of the other Parties to: (i) assign its rights and obligations under this Agreement (in whole or in part) to an Affiliate; (ii) mortgage, pledge, encumber, or otherwise impress a lien, create a security interest or otherwise assign as collateral its rights and interests in and to the Agreement to any lender; (iii) make a transfer pursuant to any security interest arrangement described in (ii) above, including any judicial or non-judicial foreclosure and any assignment from the holder of such security interest to another Person; or (iv) assign the Agreement in connection with the sale of all or substantially all of its assets, or in connection with a merger, consolidation, or other reorganization.
(b) Gatherer shall have the right without the prior consent of the other Parties to assign this Agreement to EQT Midstream Partners, LP or any of its Affiliates.
(c) [***].
(d) [***].
Pre-Approved Assignment. Each Party shall have the right, without the prior consent of the other Party, to (a) mortgage, pledge, encumber or otherwise impress a lien or security interest upon its rights and interest in and to this Agreement and (b) make a transfer pursuant to any security interest arrangement described in (a) above, including any judicial or non-judicial foreclosure and any assignment from the holder of such security interest to another Person. TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED. THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**).
Pre-Approved Assignment. (a) Any Party shall have the right without the prior consent of the other Parties to: (i) assign its rights and obligations under this Agreement (in whole or in part) to an Affiliate; (ii) mortgage, pledge, encumber, or otherwise impress a lien, create a security interest or otherwise assign as collateral its rights and interests in and to the Agreement to any lender; (iii) make a transfer pursuant to any security interest arrangement described in (ii) above, including any judicial or non-judicial foreclosure and any assignment from the holder of such security interest to another Person; or (iv) assign the Agreement in connection with the sale of all or substantially all of its assets, or in connection with a merger, consolidation, or other reorganization.
(b) Gatherer shall have the right without the prior consent of the other Parties to assign this Agreement to EQT Midstream Partners, LP or any of its Affiliates (including EQM Gathering Opco, LLC).
(c) Producer shall have the right without the prior consent of the other Parties to assign all of its rights and obligations under this Agreement in connection with the sale of all or substantially all of Producer’s interest in the lands underlying the Gathering System, but only if such purchaser or surviving entity is an experienced and reasonably prudent operator with respect to Producer’s applicable production assets and agrees to adopt, ratify and be bound by the terms of this Agreement.
(d) Gatherer shall have the right without the prior consent of the other Parties to assign all of its rights and obligations under this Agreement in connection with the sale of all or substantially all of Gatherer’s interest in the Gathering System, but only if such purchaser or surviving entity is an experienced and reasonably prudent operator with respect to the Gathering System and agrees to adopt, ratify and be bound by the terms of this Agreement.
Pre-Approved Assignment. Notwithstanding the above, any sale or transfer of capital stock, including redemption or issuance of additional stock of any class, or transfer to an affiliate of Tenant, shall be deemed a "Pre-Approved Assignment".