Non-Assignable Contract definition

Non-Assignable Contract means any agreement, contract or license to which any Grantor is a party that by its terms purports to restrict or prevent the assignment or granting of a security interest therein (either by its terms or by any federal or state statutory prohibition or otherwise irrespective of whether such prohibition or restriction is enforceable under Section 9-406 through 409 of the UCC).
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Non-Assignable Contract shall have the meaning set forth in Section 2.5(a).
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Non-Assignable Contract is defined in Section 2.5.
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Examples of Non-Assignable Contract in a sentence

  • Unless otherwise agreed by the Administrative Agent, no Grantor shall after the Closing Date enter into any Non-Assignable Contract that is a Material Contract unless, within 30 days following its execution, counterparties to such Non-Assignable Contract consent in writing pursuant to the terms of such Non-Assignable Contract to the collateral assignment and granting of a security interest in such Non-Assignable Contract to the Administrative Agent for the ratable benefit of the Secured Parties.

  • Any transfer or assignment to Buyer by Sellers of any interest in Non-Assignable Contract shall be made subject to such Authorization being obtained.

  • With respect to any such Non-Assignable Contract as to which the necessary approval or consent for the assignment or transfer to the Buyer is obtained following the Closing, the Seller shall transfer such Non-Assignable Contract to the Buyer by execution and delivery of an instrument of conveyance reasonably satisfactory to the Buyer within five (5) Business Days following receipt of such approval or consent.

  • The performance obligations of MII Life or its applicable Affiliate under a Non-Assignable Contract shall, unless prohibited by law or by the terms of such Non-Assignable Contract, be deemed to be subleased or subcontracted to Buyer until such Non-Assignable Contract has been assigned to Buyer.

  • Each Grantor shall, within thirty (30) days after entering into any Material Contract that is a Non-Assignable Contract after the date hereof, request in writing the consent of the counterparty or counterparties to such Non-Assignable Contract pursuant to the terms of such Non-Assignable Contract or applicable law to the assignment or granting of a security interest in such Non-Assignable Contract to the Bank, and use commercially reasonable efforts to obtain such consent as soon as practicable thereafter.


More Definitions of Non-Assignable Contract

Non-Assignable Contract means any Contract that by its terms purports to restrict or prevent the assignment thereof or granting of a security interest therein (either by its terms or by any federal or state statutory prohibition or otherwise, irrespective of whether such prohibition or restriction is enforceable under Sections 9-407 through 409 of the New York UCC).
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Non-Assignable Contract means any Contract which would be assigned to the Purchaser under this Agreement but in respect of which an assignment or attempted assignment would constitute a breach thereof or would contravene any applicable Law.
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Non-Assignable Contract means any Contract identified as such in the Asset List.
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Non-Assignable Contract shall have the meaning set forth in the Separation and Distribution Agreement.
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Non-Assignable Contract means a Contract that contains a prohibition on assignment to, among other Persons, Affiliates of the Originator party thereto.
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Non-Assignable Contract means any of the Contracts, Leases, Equipment Leases, Shared Contracts, Warranty Rights or Transferable Licences included in the Purchased Assets:
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Non-Assignable Contract see Section 1(b) of this Agreement..
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