No Assignment Certain Persons Sample Clauses
The 'No Assignment Certain Persons' clause prohibits the transfer or assignment of contractual rights or obligations to specific individuals or entities identified in the agreement. In practice, this means that even if assignments are generally permitted, the contract explicitly restricts assignments to certain parties, such as competitors, affiliates, or other named groups. This clause serves to protect the interests of the original contracting party by preventing sensitive information, obligations, or benefits from being transferred to parties that may pose a conflict of interest or other risks.
No Assignment Certain Persons. No such assignment shall be made to (A) the Borrower or any of the Borrower’s Affiliates or Subsidiaries or (B) to any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute any of the foregoing Persons described in this clause (B).
No Assignment Certain Persons. No such assignment shall be made to (A) the Borrower or any of the Borrower’s Affiliates or Subsidiaries or
No Assignment Certain Persons. No such assignment shall be made to (A) any Borrower or any Affiliate or Subsidiary of any Borrower or (B) to any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute any of the foregoing Persons described in this clause (B); provided that the Delayed Draw Term Loan may be assigned to any Borrower’s Affiliates that are not Credit Parties.