Common use of Benefit of Guarantee Clause in Contracts

Benefit of Guarantee. This Guarantee shall be binding upon and inure to the benefit of and be enforceable by the respective successors and permitted assigns of the parties hereto. The Guarantor may not assign or otherwise transfer any of its rights under this Guarantee or any of the other Financing Documents. The benefit of this Guarantee may be freely and unconditionally assigned, transferred or otherwise disposed of, in whole or in part, by the Bank to any other person, corporate or otherwise, to whom the Bank has assigned all or part of its rights under the Loan Agreement.