Common use of Assignment and Security Interests Clause in Contracts

Assignment and Security Interests. 18.1 Without prejudice to the provisions of Article 8, the Customer shall be entitled to assign, transfer, sell or otherwise dispose of its rights and obligations under this Agreement in whole or in part (including grant of a security interest (by way of pledge, with or without additional step-in rights, or otherwise) subject to the prior written consent of GSB, which shall not be unreasonably withheld but may be withheld in the circumstances where the proposed assignee is not (or does not become through the assignment) a Storage Customer (if the assigned or disposed of rights can only be exercised by Storage Customers) or does not have a Credit Limit or if proposed assignment would cause the Exposure of the assignor or assignee to exceed its Credit Limit.