Common use of Parties Bound, etc Clause in Contracts

Parties Bound, etc. All of the terms, covenants and provisions of this Agreement shall be binding upon and inure to the benefit of Borrower and Lender and their respective successors and assigns. Borrower shall not have the right without the prior consent of Lender (which consent may be withheld in the sole and absolute discretion of Lender) to assign or transfer its rights under this Agreement or under any of the other Loan Documents, in whole or in part, by agreement, operation of law or otherwise to any other Person, it being agreed that any such assignment or transfer without the prior consent of Lender shall be void and of no force and effect and shall constitute an immediate Event of Default under this Agreement.