No Further Assignment Clause Samples
The No Further Assignment clause prohibits either party from transferring or assigning their rights or obligations under the agreement to another party without prior consent. In practice, this means that if one party wishes to sell, delegate, or otherwise transfer their interests in the contract, they must first obtain written approval from the other party. This clause ensures that both parties retain control over who they are contractually bound to, preventing unwanted or unexpected changes in the contractual relationship and reducing the risk of dealing with unknown or unreliable third parties.
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No Further Assignment. Assignor covenants that so long as any of the Secured Obligations shall remain unpaid, Assignor will make no assignment, pledge or other disposition of, nor encumber, any of the Leases or the Income except as permitted under the terms of the URC Documents.
No Further Assignment. The Seller and the Mortgages Trustee agree that the Seller may not assign any New Mortgage Portfolio after the Payment Date falling in January 2008 if the option to redeem the First Issuer Notes on the Payment Date in January 2008 pursuant to Condition 5(D) of those Notes is not exercised.
No Further Assignment. The Seller and the Mortgages Trustee agree that the Seller may not sell and assign any New Mortgage Portfolio after the Step-up Date in respect of the Notes of any Issuer if the option to redeem any such Notes on the related Step-up Date pursuant to Condition 5(D) of those Notes is not exercised.
No Further Assignment. Grantor has not, and shall not, sell, assign, transfer, encumber or otherwise dispose of any of Grantor’s rights in the Collateral except as provided in this Agreement.
No Further Assignment. Grantor has not, and will not, sell, assign, transfer, encumber or otherwise dispose of any of Grantor's rights in the Collateral except as provided in this Agreement. No Defaults. There are no defaults existing under the Collateral, and there are no offsets or counterclaims to the same. Grantor will strictly and promptly perform each of the terms, conditions, covenants and agreements contained in the Collateral which are to be performed by Grantor, if any.
No Further Assignment. The Seller and the Mortgages Trustee agree that the Seller may not sell and assign any New Mortgage Portfolio after the earlier to occur of:
(a) the Step-up Date in respect of the Notes of any Funding Issuer if the option to redeem any such Notes on the related Step-up Date pursuant to Condition 5(D) of those Notes is not exercised; or
(b) the Step-up Date in respect of the Notes of any Funding 2 Issuer if the option to redeem any such Notes on the related Step-up Date pursuant to Condition 5(D) of those Notes is not exercised and the aggregate Principal Amount Outstanding of such Notes (together with any other Notes of such Funding 2 Issuer in respect of which the applicable Step-Up Date has occurred) as at such Step-Up Date exceeds (GBP)1,000,000,000; or
(c) the date falling 12 months after the Step-Up Date (the "twelve month date") in respect of any Series and Class of Notes of any Funding 2 Issuer, if the option to redeem any such Notes on or before such twelve month date pursuant to the terms and conditions of such Notes is not exercised.
No Further Assignment. Borrower will not, for collateral or security purposes, further assign or otherwise transfer or encumber its interest in the Assigned Property without ▇▇▇▇▇▇’s prior consent which may be withheld in ▇▇▇▇▇▇’s sole discretion. If Lender consents to any further assignment, transfer or encumbrance of the Assigned Property, it will only do so provided that (i) the subordinate assignment restricts the subordinate assignee from subordinating the Leases to any mortgage or other security instrument held by the subordinate assignee and requires the subordinate assignee to subordinate its interests to any Leases executed after the date of the subordinate assignment; (ii) the subordinate assignment prohibits the subordinate assignee from taking any action that would terminate, modify or amend or could result in the termination, modification or amendment of any of the Leases; and (iii) the subordinate assignee agrees that if it exercises its remedies under its assignment and either it or any party acting on its behalf collects any Rents, such Rents will be deemed collected for the benefit of Lender and held in trust for ▇▇▇▇▇▇ and upon written demand, the party holding the Rents collected will immediately pay them to Lender. If any subordinate assignment does not contain the foregoing provisions, to the extent permitted by Law, the subordinate assignee will be deemed bound by such provisions as if set forth in the subordinate assignment or any action taken by subordinate assignee that violates the foregoing provisions will be null and void.
No Further Assignment. Make any assignment or pledge other than to Lender of any ownership interest in any Borrower.
No Further Assignment. This consent is not assignable, nor shall this consent be a consent to any further amendment, modification, extension of renewal of the Lease or to any other sublease or assignment of the Lease.
No Further Assignment. City and MRA have not, and shall not, sell, assign, transfer, encumber or otherwise dispose of any of their rights in the Collateral except as provided in this Agreement.