ASSIGNMENT PROHIBITED; MORTGAGE PERMITTED Clause Samples

This clause prohibits the transfer (assignment) of a party's rights or obligations under the agreement to another party, while specifically allowing the use of the agreement as collateral for a mortgage or similar security interest. In practice, this means that a tenant, for example, cannot assign their lease to someone else without consent, but may use the lease as security for a loan. The core function of this clause is to maintain control over who is a party to the agreement, while still permitting the original party to leverage their interest for financing purposes.
ASSIGNMENT PROHIBITED; MORTGAGE PERMITTED. The Community is intended to be an owner-occupied Community. Lessor shall have the right, at its sole discretion to own and rent homes to approved tenants. In no event shall the Lessee have any right to assign, convey, mortgage, pledge, rent, sublease or otherwise transfer this Lease or any interest in the Home or Home Site, or permit the occupancy of the Home by persons other than family members of the Lessee, previously approved by Lessor, without the prior written consent of the Lessor, which the Lessor may grant or withhold in its sole discretion, and any such transfer or attempted transfer shall be null and void, except as follows:
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ASSIGNMENT PROHIBITED; MORTGAGE PERMITTED. The Community is intended to be an owner-occupied Community. Lessor shall have the right, at its sole discretion to own and rent homes to approved tenants. In no event shall the Lessee have any right to assign, convey, mortgage, pledge, rent, sublease or otherwise transfer this Lease or any interest in the Home or Home
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Related to ASSIGNMENT PROHIBITED; MORTGAGE PERMITTED

  • Cooperative Contract The provisions and pricing of this Contract will be extended to other California local or state governmental entities. Governmental entities wishing to use this Contract will be responsible for issuing their own purchase documents/price agreements, providing for their own acceptance, and making any subsequent payments. Contractor shall be required to include in any Contract entered into with another agency or entity that is entered into as an extension of this Contract a Contract clause that will hold harmless the County of Orange from all claims, demands, actions or causes of actions of every kind resulting directly or indirectly, arising out of, or in any way connected with the use of this contract. Failure to do so will be considered a material breach of this Contract and grounds for immediate Contract termination. The cooperative entities are responsible for obtaining all certificates of insurance and bonds required. The Contractor is responsible for providing each cooperative entity a copy of the Contract upon request by the cooperative entity. The County of Orange makes no guarantee of usage by other users of this Contract. The Contractor shall be required to maintain a list of the cooperative entities using this Contract. The list shall report dollar volumes spent annually and shall be provided on an annual basis to the County, at the County’s request.