Common use of During the Security Period Clause in Contracts

During the Security Period. the Borrowers shall not, without the prior written consent of the Security Agent, assign or attempt to assign any right (present, future or contingent) relating to the Secured Property and each Borrower irrevocably and unconditionally confirms to the Security Agent that no right (present, future or contingent) relating to the Secured Property shall be capable of being assigned to, or exercised by, a person other than the Borrowers without the Security Agent's prior written consent.

Appears in 2 contracts

Sources: Ninth Supplemental Agreement (Aegean Marine Petroleum Network Inc.), Second Supplemental Agreement (Aegean Marine Petroleum Network Inc.)

During the Security Period. the Borrowers Borrower shall not, not without the prior written consent of the Security AgentBank, assign or attempt to assign any right (present, future or contingent) relating to the Secured Property and each the Borrower irrevocably and unconditionally confirms to the Security Agent Bank that no right (present, future or contingent) relating to the Secured Property shall be capable of being assigned to, or exercised by, a person other than the Borrowers Borrower without the Security Agent's Bank’s prior written consent.

Appears in 1 contract

Sources: Facility Agreement (Globus Maritime LTD)