Get Permitted Assigns

Broadly speaking, to assign is to transfer the rights or property from one person or business to another. An assignment can be any transfer of any sort of rights.

Definition: A party or entity who transfers the rights of the contract they hold to another party (assignee) is called the assignor. Description: Assignor transfers the complete rights of ownership and benefits pertaining to the contract to the assignee.

Assignment contracts are a vehicle used by real estate investors to transfer one party's rights and obligations under an existing real estate contract to another party. Assignment contracts don't involve transferring or selling the property directly like a purchase agreement.

Assignee is a person to whom a right is transferred by the person holding such rights under the transferred contract (the “assignor”). The act of transferring is referred to as “assigning” or “assignment” and is a concept found in both contract and property law.

Related Definitions Permitted Successors means any asset manager or investment professional of similar asset management experience and expertise approved by the Administrative Agent, which approval shall not be unreasonably withheld or delayed. [As added by First Amendment.]

Successors and Assigns means a corporation or other entity acquiring all or substantially all the assets and business of the Company whether by operation of law or otherwise, and any affiliate of such Successors and Assigns.

Assign is the act of transferring rights, property, or other benefits to another party (the assignee) from the party who holds such benefits under contract (the assignor). This concept is used in both contract and property law.

An assignee is a person, company, or entity who receives the transfer of property, title, or rights from a contract. The assignee receives the transfer from the assignor. An assignee may be the recipient of an assignment, a liability, or appointed to act in the stead of another person or entity.