Treximet Assignment Clause Samples
The Treximet Assignment clause governs the conditions under which rights and obligations related to the Treximet product may be transferred from one party to another. Typically, this clause outlines whether either party can assign their interests in the agreement—such as licensing rights, distribution responsibilities, or payment obligations—to a third party, and may specify if prior written consent is required. By clearly defining the rules for assignment, this clause helps prevent unauthorized transfers and ensures that all parties maintain control over who is involved in the agreement, thereby protecting their business interests and maintaining the integrity of the contractual relationship.
Treximet Assignment. Borrowers have requested consent from Agent and Required Lenders for Holdings to consummate the Treximet Assignment. Section 5.6 of the Credit Agreement prohibits any Borrower or its Subsidiaries from consummating any Asset Disposition without the prior written consent of Agent and Required Lenders unless such Asset Disposition is a Permitted Asset Disposition. The Treximet Assignment does not satisfy the terms of a Permitted Asset Disposition and, thus, consent from Agent and Required Lenders is required. Agent and Required Lenders hereby consent to Borrowers’ request for Holdings to consummate the Treximet Assignment. Agent and Lenders agree that the consummation of the Treximet Assignment is not, and shall not be deemed, a Default or Event of Default under the Credit Agreement and is hereby permitted under the Financing Documents. The foregoing consent and agreement is expressly limited to the Treximet Assignment, and shall not be construed to permit any Borrower to transfer any other assets other than as expressly permitted by the terms of the Credit Agreement.