Common use of Assignment or transfer of Assignment Clause in Contracts

Assignment or transfer of Assignment. (a) The Bank can at any time at its absolute discretion and without notifying the Borrower and/or the Assignor, assign all or any part of its rights, interests, and obligations in this Assignment, and/or transfer the benefit of this Assignment to any person or corporation. (b) The costs and expenses of the Bank and the assignee or transferee will be paid by the Borrower and/or the Assignor. (c) Following such assignment or transfer, the assignee or transferee will assume and be entitled to the rights, interests, and obligations of the Bank in this Assignment as if the assignee or transferee had been a party to this Assignment in place of the Bank. (d) Any recital or statement in this Assignment of the amount due to the Bank under or by virtue of this Assignment will be conclusive and binding for all purposes against the Borrower and/or the Assignor.

Assignment or transfer of Assignment. (a) The Bank can at any time at its absolute discretion and without notifying the Borrower Customer and/or the Assignor, assign all or any part of its rights, interests, and obligations in this Assignment, and/or transfer the benefit of this Assignment to any person or corporation. (b) The costs and expenses of the Bank and the assignee or transferee will be paid by the Borrower Customer and/or the Assignor. (c) Following such assignment or transfer, the assignee or transferee will assume and be entitled to the rights, interests, and obligations of the Bank in this Assignment as if the assignee or transferee had been a party to this Assignment in place of the Bank. (d) Any recital or statement in this Assignment of the amount due to the Bank under or by virtue of this Assignment will be conclusive and binding for all purposes against the Borrower Customer and/or the Assignor.