Common use of Transfer of the Account Clause in Contracts

Transfer of the Account. The Bank shall have the right to assign and transfer to another person or entity, at any time without prior notice to the Cardholder, the Bank’s rights under this Agreement and any or all of the obligations of the Cardholder owed to the Bank under this Agreement or on the Account. The Cardholder’s rights under this Agreement shall not, however, be transferred by operation of law or by the Cardholder, but all of the Cardholder’s obligations under this Agreement shall be binding on the Cardholder’s estate, heirs, legatees, and personal representatives.