Common use of Unincorporated body Clause in Contracts

Unincorporated body. In addition to, and without affecting the other provisions of this Assignment, it is agreed that even though the Borrower and/or the Assignor is a committee, an association, or other unincorporated body which has no legal existence, or which is under no legal liability to discharge obligations undertaken or purported to be undertaken by it or on its behalf, this security will be valid and have effect as though the Assignor were the principal debtor.

Unincorporated body. In addition to, and without affecting the other provisions of this Assignment, it is agreed that even though the Borrower Customer and/or the Assignor is a committee, an association, or other unincorporated body which has no legal existence, or which is under no legal liability to discharge obligations undertaken or purported to be undertaken by it or on its behalf, this security will be valid and have effect as though the Assignor were the principal debtor.