Assignment Agreement between SG Social Holding Company I, LLC and SciPlay Holding Company, LLC

Summary

This agreement is between SG Social Holding Company I, LLC (the Assignor) and SciPlay Holding Company, LLC (the Assignee). The Assignor is transferring all of its rights and obligations under a License Agreement with Bally Gaming, Inc. to the Assignee. From the effective date, the Assignee will take over all responsibilities and benefits of the original agreement with Bally. Both parties agree to this transfer and assumption of duties as of the specified date.

EX-10.3 7 a2238399zex-10_3.htm EX-10.3

Exhibit 10.3

 

ASSIGNMENT AGREEMENT

 

This Assignment Agreement is made as of [ · ] (the “Effective Date”) by and between SG Social Holding Company I, LLC, a Nevada limited liability company (“Assignor”), and SciPlay Holding Company, LLC, a Nevada limited liability company (“Assignee”).

 

WHEREAS, Assignor entered into a License Agreement dated [ · ] (the “Agreement”) with Bally Gaming, Inc., a Nevada corporation (“Bally”);

 

WHEREAS, Assignor desires to assign and delegate all of its rights, duties, responsibilities, obligations, and interest under the Agreement to Assignee as of the Effective Date;

 

WHEREAS, Assignee desires to accept such assignment and delegation of Assignor’s rights, duties, responsibilities, obligations, and interest under the Agreement and assume towards Bally all duties, liabilities, responsibilities, and obligations of Assignor under the Agreement in accordance with the terms and provisions set forth below;

 

NOW THEREFORE, in consideration of the parties’ mutual promises and covenants set forth herein, and other good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

 

1. Assignor hereby irrevocably and perpetually assigns and transfers all of its rights, duties, obligations and interest under the Agreement to Assignee as of the Effective Date.

 

2. Assignee hereby accepts assignment and transfer of all of Assignor’s rights, duties, obligations, and interest under the Agreement and hereby assumes toward Bally from and after the Effective Date all duties, liabilities, responsibilities, and obligations heretofore owing Bally by Assignor under the Agreement.

 

IN WITNESS WHEREOF, the parties have caused their duly authorized representatives to execute this document as of the Effective Date.

 

SG Social Holding Company I, LLC

 

SciPlay Holding Company, LLC

 

 

 

 

 

 

By:

 

 

By:

 

 

 

 

 

 

Name:

 

 

Name:

 

 

 

 

 

 

Title:

 

 

Title: