Common use of ASSIGNMENT OF THE RIGHTS UNDER THIS CONTRACT Clause in Contracts

ASSIGNMENT OF THE RIGHTS UNDER THIS CONTRACT. ASSIGNMENT OF DEBT You may only assign your rights to payment of claims to a third party namely the Loss Payee with our prior written consent. Your obligations under this contract will remain unaffected. The loss payee will have no more rights to payment than you, and our rights under this contract shall continue to be exercisable notwithstanding the assignment. You may assign the debts to the financial institution acting as the loss payee, provided that you have assigned the right to payment of claims as described above.