Common use of Non-negotiable Clause in Contracts

Non-negotiable. The Agreement is non-negotiable and shall not be sold, transferred, assigned, or pledged by Lender except with the prior written approval of Borrower; provided, however, that the Lender may transfer this Agreement to any related party by written endorsement specifying the related party to which the Agreement is being transferred. For purposes of this paragraph, the term “related party” means any existing or newly formed entity or association directly or indirectly controlled by Lender, through an ownership interest or contractual rights.