16 Exercise – declaration of trust

Could a trust be created over the rights of the Lender based on the following clause?

“Subject to this Clause [•], a Lender (the Existing Lender) may:

(a) assign any of its rights; or

(b) transfer by novation any of its rights and obligations,

to another bank or financial institution or to a trust, fund or other entity which is regularly engaged in or established for the purpose of making, purchasing or investing in loans, securities or other financial assets (the New Lender).”

Would your answer be any different if the clause said this instead?

“Subject to this Clause [•], a Lender (the Existing Lender) shall not assign, deal with, or otherwise dispose of or transfer its rights/obligations under the loan agreement.”