Common use of Assignment by Bank Clause in Contracts

Assignment by Bank. If at any time or times, by assignment or otherwise, Bank transfers or assigns any Obligations and/or security therefor, such transfer shall carry with it the power and rights of Bank under this Agreement with respect to the Obligations and security assigned or transferred and the assignee or transferee shall become vested with said powers and rights whether or not they are specifically referred to in the transfer or assignment. If and to the extent Bank retains any Obligations or security, Bank shall continue to have the rights and powers herein set forth with respect thereto.