This form brings together several boilerplate contract clauses that work together to outline requirements or otherwise restrict any assignment of rights or delegation of performance under a contract.
Putting It All Together - Anti-Assignment and Anti-Delegation Clauses
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FAQ
A non-assignment clause prevents a party or parties from assigning the benefit of the contract. Non-assignment clauses are generally effective if they have been clearly drafted. Contracts commonly provide for assignment with the consent of the other party.
A non-assignment clause which prohibits a party from assigning its rights (eg "the Seller shall not assign its rights") will, if breached, generally result in a breach of contract but will not affect the assignee's rights. The rights subjected to the clause are still transferred.
This may seem like it covers a change of control, but it does not as an assignment is a specific action taken. A change in control clause must specifically address how the contract is to be handled if or when the other party to the agreement undergoes a specific type of change to its structure and/or ownership.
A contract may contain a non-assignment clause, which prohibits the assignment of specific rights and some various rights, or of the entire contract, to another. However, such a clause does not necessarily destroy the power of either party to make an assignment.
As an anti-assignment clause prohibits the assignment of payment, it affects business and thus is unenforceable and ineffective under Section 9-406 of the Uniform Commercial Code.What Should a Factor Do If a Client's Contract Contains an Anti-Assignment Clause?
Most jurisdictions permit the free transferability of contracts if the contract is silent on assignment, so if there is a desire to restrict assignment, an anti-assignment clause must be included. Assignment of entire contract vs. individual rights and obligations.
Collateral Assignment of Contracts means the assignment of representations, warranties, covenants, indemnities and rights to the Agent, in respect of the Loan Parties' rights under that certain Escrow Agreement executed in connection with the Riverstone Acquisition delivered on the Original Closing Date.
An anti-assignment clause may state that the contracting parties cannot transfer their obligations under the agreement to a third party.Neither party may assign, delegate, or transfer this agreement or any of its rights or obligations under this agreement.
An assignment clause spells out which, if any, of a party's obligations and rights under a contract are able to be assigned, or transferred, to another party.
