Common use of TRANSFER Clause in Contracts

TRANSFER. The Bank may freely transfer or assign to any third parties the whole or part of its rights under or benefit to this Agreement. In case of a transfer or assignment of the rights and/or obligations of the Bank under the Finance Contract, the whole or part of its rights under or benefit to this Guarantee Agreement shall be transferred or assigned to the transferee or assignee under the Finance Contract. The Bank shall use its best efforts to inform the Guarantor, in reasonable time, of such transfer or assignement of the rights and/or obligations of the Bank under this Guarantee Agreement. Any rights and/or obligations of the Guarantor under this Guarantee Agreement cannot be transferred or assigned in any way whatsoever to any third parties without the prior written consent of the Bank.