This [PARTY C] Consent clause is used to signal the consent and approval of the third party to an agreement of the agreement.
For example, in the assignment and assumption of a loan between an Assignor ([PARTY A]) and an Assignee ([PARTY B]), the Lender of the loan being assigned and assumed should be party to the agreement (as our [PARTY C]), and should provide its consent, here in this clause.
Acknowledgment and Consent. The [PARTY C] hereby acknowledges and consents to the foregoing assignment and assumption listed in the [ASSIGNMENT OF ASSETS] and [ASSUMPTION OF LIABILITIES] clauses of this agreement.
Release and Discharge. The [PARTY C] hereby releases and discharges the [PARTY B] from its obligations arising under or in connection with the [Loan Agreement].