The effect of assignment Sample Clauses
The "Effect of Assignment" clause defines the legal consequences and implications when a party transfers its rights or obligations under a contract to another party. Typically, this clause clarifies whether the assignee assumes all responsibilities and benefits of the original party, and may specify any conditions or limitations on such transfers. By outlining these effects, the clause ensures all parties understand how assignments impact their contractual relationships, thereby preventing disputes and maintaining clarity regarding who holds rights and obligations after an assignment.
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The effect of assignment. Assignment of this agreement will not abrogate, impair, release or extinguish any debt, obligation or liability of one party to the other which may have accrued under this agreement prior to the date of such an assignment.