Common use of Assignments and transfers by the Lender Clause in Contracts

Assignments and transfers by the Lender. The Lender may subject to the prior consent of the Borrower (such consent not to be unreasonably withheld or delayed): (a) assign any of its rights; or (b) transfer by novation any of its rights and obligations, to another bank or financial institution which is regularly engaged in or established for the purpose of making, purchasing or investing in loans, vessels, securities or other assets.