Common use of Assignment and Disclosure Clause in Contracts

Assignment and Disclosure. The Borrower agrees that the Bank may, at its option, sell, transfer, assign, grant security interests in, pledge or otherwise dispose of the Charge, or all or some of the Liabilities, without consent or notice, and in any such case this Charge shall continue to secure all Liabilities existing at the time of or arising after any such sale, transfer, assignment, grant of security interest, pledge or other disposition. The Borrower irrevocably agrees that the Bank may collect, use and disclose all personal information included in or relevant to the Charge, Liabilities and any Credit Agreement (including credit and default information) with respect to the Borrower, the Guarantor or any Person who assumes or becomes responsible for payment of any amounts secured by the Charge, to anyone to whom the Bank sells, transfers, assigns, grants security interests in, pledges or otherwise disposes of its rights. The Bank may delegate the exercise of its rights or the performance of its obligations to another Person, and in that event the Bank may furnish that Person with any information it may have concerning the Borrower, Guarantor, Charge, Liabilities and Lands. The Bank may also disclose information about the Borrower, Guarantor, Charge, Liabilities and Lands in connection with collection or enforcement proceedings in respect of the Charge or to an insurer or other third party from whom the Bank may obtain benefits that protect its security. The Borrower consents to insurers and other third parties that provide benefits or services to the Bank for the Charge obtaining information about the Borrower from credit bureaus and other lenders to evaluate the Borrower and the Charge.

Assignment and Disclosure. ‌ The Borrower agrees that the Bank may, at its option, sell, transfer, assign, grant security interests in, pledge or otherwise dispose of the Charge, or all or some of the Liabilities, without consent or notice, and in any such case this Charge shall continue to secure all Liabilities existing at the time of or arising after any such sale, transfer, assignment, grant of security interest, pledge or other disposition. The Borrower irrevocably agrees that the Bank may collect, use and disclose all personal information included in or relevant to the Charge, Liabilities and any Credit Agreement (including credit and default information) with respect to the Borrower, the Guarantor or any Person who assumes or becomes responsible for payment of any amounts secured by the Charge, to anyone to whom the Bank sells, transfers, assigns, grants security interests in, pledges or otherwise disposes of its rights. The Bank may delegate the exercise of its rights or the performance of its obligations to another Person, and in that event the Bank may furnish that Person with any information it may have concerning the Borrower, Guarantor, Charge, Liabilities and Lands. The Bank may also disclose information about the Borrower, Guarantor, Charge, Liabilities and Lands in connection with collection or enforcement proceedings in respect of the Charge or to an insurer or other third party from whom the Bank may obtain benefits that protect its security. The Borrower consents to insurers and other third parties that provide benefits or services to the Bank for the Charge obtaining information about the Borrower from credit bureaus and other lenders to evaluate the Borrower and the Charge. For clarity, and in addition to the rights granted to the Bank in this Section 21, the Bank shall have the right, both before and after the advance of the Principal Amount, without notice to the Borrower and without their consent, to sell, assign, syndicate, or securitize into the secondary market, the Credit Agreement, the Liabilities, this Charge and all other security for the Liabilities, in whole or in part, to any other party or parties (each a "Holder"), and the Holder(s) shall thereafter have all the rights herein of the Bank, including the right to so sell or assign in turn, without any effect on the interest rate or terms of the Liabilities. The Bank may from time to time, in connection with the sale, assignment, syndication or securitization of the Liabilities, or otherwise, appoint or designate a custodian or agent for the Liabilities, which custodian or agent may be the registered mortgagee. The Borrower and each Guarantor, if any, acknowledges that such custodian or agent will have no liability whatsoever to the Borrower or Guarantor(s), if any, in connection with the Liabilities, being merely custodian or agent for the Bank and/or Holders. The Bank shall have the unrestricted right from time to time to appoint a third party to service or administer the Liabilities, and to deal with the Borrower and Guarantor(s), if any, in place of the Bank, provided that until the Bank gives notice of such appointment to the Borrower, the Borrower and Guarantor(s), if any, shall continue to deal with the Bank in matters pertaining to the servicing or administration of the Liabilities.