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Commentary

68.2 Clause to prevent charge over payments or assets

BOILERPLATE AND COMMERCIAL CLAUSES vol 4(3)
| Commentary

68.2 Clause to prevent charge over payments or assets

| Commentary

68.2 Clause to prevent charge over payments or assets

Boilerplate language on charging is generally designed to prohibit a party from executing a charge in favour of a third party, for example, a charge over payments due under the contract, or a charge over any assets that are the subject of the contract, for example in a patent licence agreement, the licensed patents.

A typical boilerplate clause prohibiting charging, for example in a patent licence agreement, might read:

‘Neither Party shall assign, mortgage, charge, pledge, grant any lien or security interest over, or otherwise transfer or incumber, without the prior

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