Common use of Transferee Obligations in Respect of Affiliate Transfers Clause in Contracts

Transferee Obligations in Respect of Affiliate Transfers. In the event of an Affiliate Transfer, if the transferee is not already a Party, the transferee must execute the Joinder Agreement prior to the Sale. Upon execution of the Joinder Agreement, the Parties hereby irrevocably and unconditionally accept such transferee as a party to this Agreement. In the event of an Affiliate Transfer, the transferor shall be jointly and severally liable for the performance by the transferee of its obligations under this Agreement.