Common use of Transfers of the Collateral Interest Clause in Contracts

Transfers of the Collateral Interest. (a) Unless otherwise consented to by the Seller, no portion of the Collateral Interest or any interest therein may be sold, conveyed, assigned, hypothecated, pledged, participated, exchanged or otherwise transferred (each, a "TRANSFER") except in accordance with this SECTION 9.05 and only to a Permitted Assignee. Any attempted or purported transfer, assignment, exchange, conveyance, pledge, hypothecation or grant other than to a Permitted Assignee shall be void. Unless otherwise consented to by the Seller, no portion of the Collateral Interest or any interest therein may be Transferred to any Person (each such Person acquiring the Collateral Interest or any interest therein, an "ASSIGNEE") unless such Assignee shall have executed and delivered to the Seller on or before the effective date of any Transfer a letter