Common use of Perfection of Assignment Clause in Contracts

Perfection of Assignment. 10.1 The Settlor shall obtain a written approval of the Third Party Obligor bearing a certified date (kakutei-hizuke) in the form prescribed in Schedule 3 with respect to the Trust Assignment and deliver such written approval to the Trustee. 10.2 Upon receipt of the written approval set forth in Clause 10.1, the Trustee shall deliver to the Agent a copy of such written approval together with a notarized document with the Trustee’s seal affixed thereto certifying that such copy is a true copy of the original and the original is kept by the Trustee. 10.3 The Settlor shall bear all expenses necessary for the procedures set forth in Clause 10.2.