Application of Transfer Restrictions Sample Clauses

The Application of Transfer Restrictions clause defines how and when limitations on the transfer of rights, interests, or assets under an agreement are enforced. Typically, this clause specifies which types of transfers are restricted—such as assignments, sales, or pledges—and may outline exceptions or conditions under which transfers are permitted, like obtaining prior written consent from the other party. Its core practical function is to maintain control over who may become a party to the agreement or hold certain rights, thereby protecting the interests of the original parties and preventing unwanted or unauthorized transfers.