Assignment by the Interim Security Agent Clause Samples
The "Assignment by the Interim Security Agent" clause defines the conditions under which the interim security agent may transfer its rights, obligations, or interests under the agreement to another party. Typically, this clause outlines the process for assignment, such as requiring notice to other parties or obtaining their consent, and may specify circumstances in which assignment is permitted, for example, in connection with a change of agent or restructuring. Its core practical function is to ensure continuity and flexibility in the administration of security interests, while providing transparency and protection for all parties involved in the event of a change in the security agent.
Assignment by the Interim Security Agent. The Interim Security Agent may at any time assign or otherwise transfer all or any part of its rights and obligations under this Agreement in accordance with the Interim Documents. Subject to the terms of the Interim Documents, the Interim Security Agent shall be entitled to disclose such information concerning the Grantor and this Agreement as the Interim Security Agent considers appropriate to any actual or proposed direct or indirect successor or to any person to whom information may be required to be disclosed by any applicable law.
Assignment by the Interim Security Agent. The Interim Security Agent may at any time assign or otherwise transfer all or any part of its rights and obligations under this Debenture in accordance with the Interim Security Documents. Subject to the terms of the Finance Documents, the Interim Security Agent shall be entitled to disclose such information concerning each Chargor and this Debenture as the Interim Security Agent considers appropriate to any actual or proposed direct or indirect successor or to any person to whom information may be required to be disclosed by any applicable law. None of the rights and obligations of any Chargor under this Debenture shall be capable of being assigned or transferred.