Common use of Assignment of Contractual Position Clause in Contracts

Assignment of Contractual Position. CAIXABANK reserves the right to assign at any time, to any entity in its company group or of the company group to which it belongs (under the terms of article 42 of the Commercial Code) its contractual position in the rights and obligations pertaining to i t at any time under this Contract, with no need to obtain the CUSTOMER's consent, where the CUSTOMER hereby grants such irrevocable consent at this time. In any event, the CUSTOMER must be given notice of the assignment prior to its effective date. For the sake of clarification, the CUSTOMER may not assign its contractual posit ion in the rights and obligations under this Contract without the prior, express and written consent of CAIXABANK.