Prohibition on Transfer of Collateral Sample Clauses
The Prohibition on Transfer of Collateral clause restricts a party from selling, assigning, or otherwise transferring any collateral provided under an agreement. In practice, this means that the party holding the collateral must retain ownership and control over it, and cannot use it as security for other obligations or transfer it to third parties without explicit consent. This clause serves to protect the interests of the secured party by ensuring that the collateral remains available to satisfy the obligations under the agreement, thereby reducing the risk of loss or complications arising from unauthorized transfers.
Prohibition on Transfer of Collateral. Pledgor agrees that Pledgor will not sell, transfer, assign or encumber any of Pledgor’s rights in any of the Collateral or grant any rights in or to any of the Collateral except pursuant to this Agreement.
Prohibition on Transfer of Collateral. We agree that we will not sell, transfer, assign or encumber any of our rights in any of the Stock or Pledged Collateral or grant any rights in or to any of the Stock or Pledged Collateral except pursuant to this Agreement and the Loan Agreement. In the event of any such sale or other disposition of any Pledged Collateral, Pledgor shall account fully and faithfully for and promptly pay or turn over to Agent proceeds in whatever form received in disposition in any manner of any of the Pledged Collateral, but nothing in this Agreement shall be deemed to authorize any such disposition.
Prohibition on Transfer of Collateral. We agree that we will not sell, transfer, assign or encumber any of our rights in any of the Collateral or grant any rights in or to any of the Collateral except pursuant to this Agreement.