This form provides boilerplate contract clauses that prohibit or restrict assignments or other delegation of rights under a contract. Several different language options representing various levels of restriction are included to suit individual needs and circumstances.
Arizona Assignment and Delegation Provisions - The Anti-Assignment Clause
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The Pledgee shall have full power to delegate (either generally or specifically) the powers, authorities and discretions conferred on it by this Agreement on such terms and conditions as it shall see fit. The Pledgee shall only remain liable for diligently selecting and providing initial instructions to such delegate.
(1) A party may perform his duty through a delegate unless otherwise agreed or unless the other party has a substantial interest in having his original promisor perform or control the acts required by the contract.
Most commercial contracts end with a clause, ?Neither this Agreement nor any of the rights, interests or obligations under the Agreement shall be assigned, in whole or in part, by operation of law or otherwise by either party without the prior written consent of the other party.? This is the anti-assignment clause that ...
No Party party hereto shall assign this Agreement or any part hereof without the prior written consent of the other Parties. parties. Subject to the foregoing, this Agreement shall be binding upon and inure to the benefit of the Parties parties hereto and their respective permitted successors and assigns.
?The Buyer reserves the right to assign this contract in whole or in part to any third party without further notice to the Seller; said assignment not to relieve the Buyer from his or her obligation to complete the terms and conditions of this contract should be assigning default.?
This may read something like this: ?Neither party may assign or delegate this agreement or its rights or obligations under this agreement without the prior written consent of the other party, whose consent shall not be unreasonably withheld or delayed.
A Standard Clause, also known as an anti-assignment and anti-delegation clause, that provides for a contractual limitation on the assignability of contractual rights and the delegation of contractual duties.