Article 129 - Undertakings of the Assignor

The Assignor undertakes towards the Assignee, except as otherwise disclosed to the Assignee, that:

(1) the assigned right exists at the time of the assignment, unless the right is a future right;
(2) the Assignor is entitled to assign the right;
(3) the right has not been previously assigned to another Assignee, and it is free from any right or claim from a third party;
(4) the Obligor does not have any defences;
(5) neither the Obligor nor the Assignor has given notice of set-off concerning the assigned right and will not give any such notice; and
(6) the Assignor will reimburse the Assignee for any payment received from the Obligor before notice of the assignment was given.