Redemption or transfer Clause Samples
The 'Redemption or transfer' clause defines the conditions under which a party may redeem (buy back) or transfer (assign or sell) their rights or interests under an agreement. Typically, this clause outlines the procedures, any required approvals, and restrictions that apply to such actions, such as notice periods, eligibility criteria, or limitations on who can receive the transferred interest. Its core function is to provide a clear framework for changing ownership or control of contractual rights, thereby preventing disputes and ensuring all parties understand how and when such changes can occur.
Redemption or transfer. In the event of any action, proceeding or step being taken to exercise any powers or remedies conferred by any prior ranking Lien in case of exercise by the Collateral Agent or any Receiver or any Delegate of any power of sale under this Agreement the Collateral Agent may redeem such prior Lien or procure the transfer thereof to itself.
Redemption or transfer. In the event of any action, proceeding or step being taken to exercise any powers or remedies conferred by any prior ranking security in case of exercise by the Chargee or any Receiver of any power of sale under this Agreement the Chargee may redeem such prior security or procure the transfer thereof to itself.
Redemption or transfer. In the event of any action, proceeding or step being taken to exercise any powers or remedies conferred by any prior ranking security in case of exercise by the Secured Party or any Receiver of any power of sale under this Agreement the Secured Party may redeem such prior security or procure the transfer thereof to itself.
Redemption or transfer. In the event of any action, proceeding or step being taken to exercise any powers or remedies conferred by any prior ranking security in case of exercise by the Security Trustee or any Receiver of any power of sale under this Agreement the Security Trustee may redeem such prior security or procure the transfer thereof to itself.