Standard Assignment Form definition
Standard Assignment Form means, with respect to any Interest or portion thereof being assigned from one Member to another Member or its Affiliate pursuant to Article XI, an assignment and assumption agreement executed and delivered by the assignor and the assignee (i) pursuant to which the assignor shall assign to the assignee the Interest or portion thereof in question without any representation or warranty by, or recourse to, the assignor other than a representation and warranty by the assignor that it owns such Interest or portion thereof, and is conveying same to assignee, free and clear of all liens and encumbrances (but subject to the provisions of this Agreement), and the assignee accepts such assignment and agrees to be bound by the terms of this Agreement and assumes the obligations of the assignee with respect to the assigned Interest or portion thereof first accruing under this Agreement on or after the date of the assignment and (ii) is otherwise in form and substance reasonably satisfactory to the assignor and the assignee.