Receivable Not Assumable Sample Clauses
The "Receivable Not Assumable" clause establishes that the right to receive payments or other benefits under a contract cannot be transferred or assigned to another party without the express consent of the original obligor. In practice, this means that if a party is entitled to receive money or other consideration, they cannot simply transfer that right to someone else, such as selling the receivable to a third party, unless the contract specifically allows it or the other party agrees. This clause is primarily used to maintain control over who is entitled to receive payments and to prevent unwanted or unknown parties from stepping into the contractual relationship, thereby reducing the risk of disputes or complications for the obligor.
Receivable Not Assumable. No Receivable is assumable by another Person in a manner which would release the Obligor thereof from such Obligor’s obligations to the owner thereof with respect to such Receivable.
Receivable Not Assumable. No Receivable is assumable by another Person in a manner which would release the Obligor thereof from such Obligor's obligations to AmeriCredit with respect to such Receivable.
Receivable Not Assumable. No Receivable is assumable by another Person in a manner which would release the Obligor thereof from such Obligor’s obligations to the owner thereof with respect to such Receivable. Receivable File
A) Confirm the Receivable is NOT assumable by any Person in a manner that would release the Obligor from their financial obligation to GM Financial.
i) Review the Contract for language indicating the Receivable is not assumable.
B) If this is confirmed, then Test Pass.
Receivable Not Assumable. No Receivable is assumable by another Person in a manner which would release the Obligor thereof from such Obligor's obligations to AFL with respect to such Receivable.
Receivable Not Assumable. No Transferred Receivable is assumable by another Person in a manner which would release the Obligor thereof from such Obligor's obligations to OFL-A with respect to such Transferred Receivable.
Receivable Not Assumable. No Receivable is assumable by another Person in a manner which would release the Obligor thereof from such Obligor's obligations to New South with respect to such Receivable.
Receivable Not Assumable. No Receivable is assumable by another Person in a manner which would release the Obligor thereof from such Obligor's obligations to a Contributing Subsidiary with respect to such Receivable.