No assignment or transfer by Security Clause Samples
The "No assignment or transfer by Security" clause prohibits the security provider from assigning or transferring their rights or obligations under the security agreement to another party without the prior consent of the secured party. In practice, this means that the person or entity granting the security interest cannot sell, transfer, or otherwise dispose of their interest in the secured assets or the agreement itself without approval. This clause ensures that the secured party maintains control over who is responsible for the obligations and who holds the security, thereby preventing unauthorized changes that could affect the value or enforceability of the security interest.
No assignment or transfer by Security. Parties No Security Party may assign any of its rights or transfer any of its rights or obligations under the Finance Documents.