Common use of The Customer Not To Encumber Any Account Clause in Contracts

The Customer Not To Encumber Any Account. 1.8.1 The Customer shall not without the prior written consent of SFP: (a) assign, charge, pledge, encumber or create or permit to subsist any security right; or (b) create or permit to create, any interest, whether by way of trust or otherwise, in favour of any person other than SFP, in or over any Account, any cash or property in any Account or the Customer's rights therein. 1.8.2 Unless otherwise agreed by SFP in writing, SFP shall not recognise any person other than the Customer as having any interest in any Account.