Common use of Assignment by Secured Party Clause in Contracts

Assignment by Secured Party. This Agreement shall be binding on, and inure to the benefit of, Secured Party and Debtor and their respective successors and assigns and contains the entire understanding and agreement with respect to the subject matter hereof. It is understood and agreed that from time to time Secured Party may assign (i) to one or more of Secured Party's affiliates, subsidiaries or subsidiaries of its affiliates, all of Secured Party's right, title and interest in any Loan, loan documents or Collateral; and with Debtor's prior consent (so long as no Event of Default or event which upon notice, lapse of time or both would constitute an Event of Default) to any other person or entity, and (ii) assign, transfer or grant participations (but not assignments) in this Agreement or any Loan, loan documents or Collateral, of not more than forty-nine percent (49%) interest to any person or entity.

Assignment by Secured Party. This Agreement shall be binding on, and inure to the benefit of, Secured Party and Debtor Borrowers and their respective successors and assigns and contains the entire understanding and agreement with respect to the subject matter hereof. It is understood and agreed that from time to time Secured Party may assign (i) to one or more of Secured Party's affiliates, subsidiaries or subsidiaries of its affiliates, all of Secured Party's right, title and interest in any Loan, loan documents or Collateral; and with Debtor's Borrowers' prior consent (so long as no Event of Default or event which upon notice, lapse of time or both would constitute an Event of Default) to any other person or entity, and (ii) assign, transfer or grant participations (but not assignments) in this Agreement or any Loan, loan documents Loan Documents or Collateral, of not more than forty-nine percent (49%) interest to any person or entity.