Common use of Assignment by NetWolves Clause in Contracts

Assignment by NetWolves. The terms and conditions of each Schedule have been fixed by NetWolves in order to permit NetWolves to sell and/or assign or transfer its interest or grant a security interest in each Schedule and/or the Products to a Secured Party or Assignee. In that event the term NetWolves will mean the Assignee and any Secured Party. However, any assignment, sale, or other transfer by NetWolves will not relieve NetWolves of its obligations to Customer, including its warranty obligations, and will not materially change Customer's duties or materially increase the burdens or risks imposed on Customer. The Customer hereby consents to any such assignment, sale or transfer. Customer also agrees that: (a) The Secured Party will be entitled to exercise all of NetWolves' rights, but will not be obligated to perform any of the obligations of NetWolves. The Secured Party will not disturb Customer's quiet and peaceful possession and unrestricted use of the Products so long as Customer is not in default and the Secured Party continues to receive all Rent payable under the Schedule; (b) Customer will pay all Rent and all other amounts payable to the Secured Party, despite any defense or claim which it has against NetWolves. Customer reserves its right to have recourse directly against NetWolves for any defense or claim; and (c) Subject to and without impairment of Customer's leasehold rights in the Products, Customer holds the Products for the Secured Party to the extent of the Secured Party's rights in the Products.