Bar on Transfer Clause Samples
A Bar on Transfer clause restricts a party’s ability to assign, transfer, or otherwise dispose of its rights or obligations under an agreement to another party. Typically, this means that neither party can sell, assign, or delegate their interests in the contract without the prior written consent of the other party, and it may apply to both voluntary and involuntary transfers, such as mergers or bankruptcies. The core function of this clause is to maintain control over who is involved in the contractual relationship, thereby preventing unwanted third parties from stepping into the agreement and ensuring that obligations and benefits remain with the original contracting parties.
Bar on Transfer. The Defaulter Apartment Acquirer shall not be entitled to sell, transfer, alienate, assign, encumber, create any third party interest or part with possession of its Apartment or any part or portion thereof till such time all amounts payable are fully paid and/or liquidated with interest as agreed upon.
Bar on Transfer. In case of such continued default, the Purchaser(s) shall not be entitled to sell, transfer, alienate, assign, encumber, create any third party’s interest or part with possession of the Unit or any part or portion thereof till such times all amounts payable are fully paid and/or liquidated with interest as agreed upon.