Common use of NON-TRANSFERABILITY OF RIGHTS Clause in Contracts

NON-TRANSFERABILITY OF RIGHTS. The rights and obligations derived from this Agreement are personal to the Parties and may not be transferred without the express written consent of the other Party. Similarly, without the express written consent of the other Party, neither Party may transfer or sell to third parties all or part of their rights and obligations under this Agreement. This excludes the Parties' ability to discount, or give guarantees to financial institutions on, credits connected with the execution of this Agreement. Alco's ability to enter into contracts of factoring, or of guarantees in general, regarding the Products of which Alco is the owner is also excluded.

NON-TRANSFERABILITY OF RIGHTS. The rights and obligations derived from this Agreement are personal to the Parties and may not be transferred without the express written consent of the other Party. Similarly, without the express written consent of the other Party, neither Neither Party may transfer or sell to third parties all or part of their rights and obligations under this Agreement. This excludes the Parties' ability Alco's power to discount, or give guarantees to discount matured credits with financial institutions on, credits connected with the execution of this Agreement. Alco's ability to enter into contracts of factoring, or of guarantees in general, regarding the Products of which Alco is the owner is also excludedfor commissions.