Common use of Assignment By Laurus Clause in Contracts

Assignment By Laurus. Laurus may assign any or all of the Obligations together with any or all of the security therefor and any transferee shall succeed to all of Laurus' rights with respect thereto. Upon such transfer and assumption in full by transferee of all of Laurus' responsibilities hereunder, Laurus shall be released from all responsibility for the Collateral to the extent same is assigned to and assumed by any transferee. Laurus may from time to time sell or otherwise grant participations in any of the Obligations and the holder of any such participation shall, subject to the terms of any agreement between Laurus and such holder, be entitled to the same benefits as Laurus with respect to any security for the Obligations in which such holder is a participant. Company agrees that each such holder may exercise any and all rights of banker's lien, set-off and counterclaim with respect to its participation in the Obligations as fully as though Company were directly indebted to such holder in the amount of such participation.

Assignment By Laurus. Laurus may assign any or all of the Obligations together with any or all of the security therefor and any transferee shall succeed to all of Laurus' ’ rights with respect thereto. Upon such transfer and assumption in full by transferee of all of Laurus' ’ responsibilities hereunder, Laurus shall be released from all responsibility for the Collateral to the extent same is assigned to and assumed by any transferee. Laurus may from time to time sell or otherwise grant participations in any of the Obligations and the holder of any such participation shall, subject to the terms of any agreement between Laurus and such holder, be entitled to the same benefits as Laurus with respect to any security for the Obligations in which such holder is a participant. Company agrees that each such holder may exercise any and all rights of banker's ’s lien, set-off and counterclaim with respect to its participation in the Obligations as fully as though Company were directly indebted to such holder in the amount of such participation.

Assignment By Laurus. Laurus may assign any or all of the Obligations together with any or all of the security therefor to any Person which is not a competitor of Company or any Subsidiary of Company and any such transferee shall succeed to all of Laurus' rights with respect thereto. Upon such transfer and assumption in full by transferee of all of Laurus' responsibilities hereundertransfer, Laurus shall be released from all responsibility for the Collateral to the extent same is assigned to and assumed by any transferee. Laurus may from time to time sell or otherwise grant participations in any of the Obligations and the holder of any such participation shall, subject to the terms of any agreement between Laurus and such holder, be entitled to the same benefits as Laurus with respect to any security for the Obligations in which such holder is a participant. Company agrees and each Eligible Subsidiary agree that each such holder may exercise any and all rights of banker's lien, set-off and counterclaim with respect to its participation in the Obligations as fully as though Company and/or such Eligible Subsidiary were directly indebted to such holder in the amount of such participation.

Assignment By Laurus. Laurus may assign any or all of the Obligations together with any or all of the security therefor to any Person which is not a competitor of the Borrower and any such transferee shall succeed to all of Laurus' rights with respect thereto. Upon such transfer and assumption in full by transferee of all of Laurus' responsibilities hereundertransfer, Laurus shall be released from all responsibility for the Collateral to the extent same is assigned to and assumed by any transferee. Laurus may from time to time sell or otherwise grant participations in any of the Obligations and the holder of any such participation shall, subject to the terms of any agreement between Laurus and such holder, be entitled to the same benefits as Laurus with respect to any security for the Obligations in which such holder is a participant. Company Borrower agrees that each such holder may exercise any and all rights of banker's lien, set-off and counterclaim with respect to its participation in the Obligations as fully as though Company Borrower were directly indebted to such holder in the amount of such participation.