Common use of Assignment Clause in Contracts

Assignment. Neither this Agreement, nor any of the rights granted or duties undertaken, may be assigned by either Party without the prior written consent of the other, which consent shall not be unreasonably withheld; provided, however, that consent shall not be required in connection with an assignment to any entity that has control over, is under common control with, or is controlled by a Party hereto. For the purpose of this section, “control” means direct or indirect ownership (or the right to vote as the case may be) of fifty percent (50%) or more of the voting rights or the registered capital of such entity or the ability to appoint or elect a majority of the entity’s board of directors or the power to direct the management of such entity. In the event of assignment, the assignee shall take over all the assignor’s rights and obligations.

Assignment. Neither this Agreement, nor any of the rights granted or duties undertaken, may be assigned by either Party without the prior written consent of the other, which consent shall not be unreasonably withheld; provided, however, that consent shall not be required in connection with an assignment to (i) any entity that has control over, is under common control with, or is controlled by a Party hereto. For the purpose of this section, “control” means direct or indirect ownership (or the right to vote as the case may be) of fifty percent (50%) or more of the voting rights or the registered capital of such entity or the ability to appoint or elect a majority of the entity’s board of directors or the power to direct the management of such entity. In the event of assignment, the assignee shall take over all the assignor’s rights and obligations.