Common use of Assignment Clause in Contracts

Assignment. Neither the Agreement, this Schedule, the Transactions, nor any rights or obligations relating to the Transactions may be transferred or assigned by Party B (whether by way of security or otherwise) without the prior written consent of Party A. Party A is hereby authorized by Party B to assign or transfer this Agreement, Schedule, Transactions and its rights and obligations relating to the Transactions within Party’s A economic group and provided such assignment or transfer does not directly or indirectly result in any increase to Party B of any costs, charges, taxation or withholdings due or that may become due (e.g. withholding income tax on remittances abroad). Provided that, upon the occurrence of an Event of Default which is continuing, Party A will be authorized to transfer or assign the Agreement, this Schedule, the Loan Agreement, the Transactions and the rights and obligations relating to the Transactions and to the Loan Agreement to any third-party”.

Assignment. Neither the Agreement, this Schedule, the Transactions, nor any rights or obligations relating to the Transactions may be transferred or assigned by Party B (whether by way of security or otherwise) without the prior written consent of Party A. Party A is hereby authorized by Party B to assign or transfer this Agreement, Schedule, Transactions and its rights and obligations relating to the Transactions within Party’s A economic group and provided such assignment or transfer does not directly or indirectly result in any increase to Party B of any costs, charges, taxation or withholdings due or that may become due (e.g. withholding income tax on remittances abroad). Provided that, upon the occurrence of an Event of Default which is continuing, Party A will be authorized to transfer or assign the Agreement, this Schedule, the Loan Agreement, the Transactions and the rights and obligations relating to the Transactions and to the Loan Agreement to any third-party.”.