Assignments by Seller. Buyer hereby acknowledges that Seller shall have the right, without Buyer’s consent, to create a security interest or hypothec with respect to this Agreement or to assign or transfer this Agreement or any of its rights under this Agreement to any financial institution or to a wholly owned subsidiary or affiliate of Seller; provided, that Seller’s assignment to a financial institution or creation of a security interest or hypothec shall be solely for the purpose of securing financing, Seller shall remain jointly and severally liable for the fulfillment of all of the obligations under this Agreement; and provided further that any such assignment or creation of a security interest or hypothec shall not increase Buyer’s obligations or liabilities under this Agreement.
Appears in 2 contracts
Sources: Aircraft Purchase Agreement, Aircraft Purchase Agreement (Microstrategy Inc)