Borrower may not assign Clause Samples
The 'Borrower may not assign' clause prohibits the borrower from transferring their rights or obligations under the agreement to another party without the lender's consent. In practice, this means the borrower cannot sell, transfer, or delegate their interest in the loan or contract to a third party, such as another business or individual, unless the lender explicitly agrees. This clause ensures that the lender maintains control over who is responsible for repaying the loan or fulfilling the contract, thereby protecting the lender from unwanted risk or dealing with unknown parties.
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Borrower may not assign. The Borrower may not assign or transfer any of its rights, benefits or obligations under this Agreement in respect of the Lender or enter into any transaction or arrangement which would result in any of those rights, benefits or obligations passing to or being held in trust for or for the benefit of another person without the prior written consent of the Lender.
Borrower may not assign. The Borrower may not assign or otherwise transfer or grant any Security Interest over any of its rights and obligations under this Agreement or any other Bank Document.