Common use of Successors and Transferees Clause in Contracts

Successors and Transferees. This Agreement shall inure to the benefit of, and be binding upon, the parties and their respective successors and other transferees permitted under this section. An assignment of a party’s rights or duties under this Agreement without the prior written consent of the other parties will be void except Bank, without the consent of Secured Party or Depositor, may transfer its rights and duties to a transferee to which, by contract or operation of law, Bank transfers the Deposit Account.

Successors and Transferees. (i) This Agreement shall be binding upon, and shall inure to the benefit of, and be binding upon, the parties hereto and their respective successors and other transferees permitted under this sectionassigns. An assignment Except as provided in Section 10(ii) below, a voluntary transfer of a party’s rights or duties under this Agreement without the prior written consent of the other parties will be void except Bank, without the consent of Secured Party or Depositor, void. (ii) The Depositary Bank may transfer or assign its rights and duties under this Agreement to a transferee to whichan affiliate, subsidiary or successor in interest, by contract or operation of law, Bank transfers without consent of the Deposit AccountLien Grantor or Secured Party, and will promptly provide notice to the parties.