Nonassignability; Nonalienation Clause Samples
The Nonassignability; Nonalienation clause prohibits parties from transferring or assigning their rights or obligations under an agreement to another party without prior consent. In practice, this means that a party cannot sell, give away, or otherwise transfer their interest in the contract, such as payment rights or responsibilities, to a third party unless the other party to the contract agrees. This clause is essential for maintaining control over who is involved in the contractual relationship and prevents unwanted or unknown parties from stepping into the agreement, thereby protecting the original parties' interests and expectations.
Nonassignability; Nonalienation. Benefits payable to Participants and their Beneficiaries under this Trust Agreement may not be anticipated, assigned (either at law or in equity), alienated, pledged, encumbered or subjected to attachment, garnishment, levy, execution or other legal or equitable process.
Nonassignability; Nonalienation. Benefits payable to Participants and their Beneficiaries under this Master Trust Agreement may not be anticipated, assigned (either at law or in equity), alienated, pledged, encumbered or subjected to attachment, garnishment, levy, execution or other legal or equitable process.
Nonassignability; Nonalienation. Benefits payable to Participants and their Beneficiaries under this Master Trust Agreement may not be anticipated, assigned (either MASTER TRUST AGREEMENT FOR RPM, INC. DEFERRED COMPENSATION PLAN(S) ================================================================================ at law or in equity), alienated, pledged, encumbered or subjected to attachment, garnishment, levy, execution or other legal or equitable process.
Nonassignability; Nonalienation. None of the benefits, payments, claims or interests hereunder of any Participant or Beneficiary shall be subject to any claim of such Participant’s or Beneficiary’s creditors and, in particular, the same shall not be subject to attachment or garnishment or other legal process by any such creditors, nor shall any Participant or Beneficiary have any right to alienate, anticipate, commute, pledge, encumber or assign any of the benefits, payments, claims or interest which he may expect to receive, contingently or otherwise, under the Trust, except that the foregoing shall not apply to any family support obligations set forth in a court order.