Common use of Assignment Clause in Contracts

Assignment. The Bank shall have the right to assign its rights and/or obligations in relation to the Agreement to a third party without the necessity of obtaining your consent, provided that You shall be notified of such assignment. You shall not assign your rights and/or obligations under the Agreement without the consent of the Bank. Unless otherwise provided under any of the Schedules or additional conditions, You may only set off claims against those of the Bank if your claims are undisputed or have been confirmed by a final court decision. In the event of death, the Bank shall take instructions from the person who is legally vested with the rights and obligations appertaining to the accounts which the Bank holds in your name. Such person may be the heir, legatee, administrator, executor or otherwise. In the event of death, all transactions made from your accounts will be valid and binding on You and your estate if they were made before the Bank received adequate and sufficient written notice of your death.