4 The remaining part of the contract is protected in the event of a transfer. He may decide to completely lighten the burden on the ceding. It will only accept such a complete and definitive transmission if it is sure that the agent is as reliable and solvent as the assignee. The remaining party may also decide to retain the assignee as a subsidiary if the purchaser does not act. The remaining part may also choose to make the seller jointly liable with the purchaser. In the latter case, the other party may assert its rights either against the ceding party or against the purchaser. If the other party receives the transferor`s benefit, the transferor would be entitled to the purchaser`s refund. Financing the sale and transaction (collateral). In the case of private equity and other debt-financed transactions, the purchaser may be able to freely transfer his rights (and obligations) under the share purchase agreement in order to obtain financing more easily. In this case, a restrictive transfer clause would allow the seller to retain some control over the financing portions of the transaction. (a) Contracting parties may agree to transfer the rights and obligations of the transferor under the contract with the person who remains a party to this contract («the other party») to another person (the «ceding» person); Standard contractual clauses for data transfers between the EU and third countries. 1 The autonomy of the party allows the contracting parties to transfer to another person any claim arising from this contract.
It also allows the transfer of the full position of a contracting party to another person who was not yet a party to this treaty. In essence, this transfer is a combination of the transfer of all rights and the transfer of all obligations from the assignee to the new party. Note that a transfer clause does not exempt the parties to an assignment from complying with the requirements of the law applicable to such rights and obligations surrendered. In order to fully exploit the assignment of rights (i.e., the debtor`s enforceable force and the debtor`s obligation to provide only to the assignee), most legal systems require (written) notification of assignment to the debtor. The European Commission may decide that standard contractual clauses provide sufficient data protection guarantees so that data can be transferred internationally. It has so far held responsible for two standard contractual clauses for the transfer of data from those responsible for processing in the EU to those responsible for processing outside the EU or the European Economic Area (EEA). c) The other party may unload the assignor or retain the assignor as a debtor if the purchaser does not have correct results. Otherwise, the ceding and the ceding are jointly responsible. The assignment. No party may cede or transfer its rights or obligations under this agreement without the prior written consent of the other party, except: (a) each party may cede its rights under this agreement to its related companies; and (b) the purchaser may cede its rights under this contract to one of its lenders or to a person who has acquired all of Target`s rights or assets or, in essence, all of Target`s rights or assets after the completion date, provided, however, that such a transfer does not absolt a party who removes it from its obligations under this agreement.