RIX Industries Flow Downs

8/20/2020

Description:

ASSIGNMENTS, SUBCONTRACTING, ORGANIZATIONAL CHANGES:

Clause:

ASSIGNMENTS, SUBCONTRACTING, ORGANIZATIONAL CHANGES: (a) Neither this Order nor any interest herein nor claim hereunder may be transferred, novated, assigned, or delegated by Seller; nor may all or substantially all of this Order be further subcontracted by Seller without the prior written consent of Buyer. Lack of consent shall not be deemed as a waiver or otherwise relieve Seller of its obligations to comply fully with the requirements hereof. (b) Notwithstanding the above, Seller may, without Buyer’s consent, assign moneys due or to become due hereunder provided Buyer continues to have the right to exercise any and all of its rights hereunder, settle any and all claims arising out of, and enter into amendments to the Order without notice to or consent of the assignee. Buyer shall be given prompt notice of any assignment. Amounts so assigned shall continue to be subject to any of Buyer’s rights to set-off or recoupment under this Order or at law. (c) Buyer may assign this Order to any successor in interest. (d) Seller shall promptly notify Buyer in writing of any organizational changes made by Seller, including name or ownership changes, mergers or acquisitions.