Common use of Benefit and Binding Effect Clause in Contracts

Benefit and Binding Effect. Neither party hereto may assign this Agreement without the prior written consent of the other party hereto, except that Buyer may assign its rights and obligations under this Agreement to any affiliated or unaffiliated entity, provided, however, that following which assignment Buyer shall remain liable to Seller for all of Buyer's obligations hereunder. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.

Appears in 4 contracts

Samples: Asset Purchase Agreement (American Radio Systems Corp /Ma/), Asset Purchase Agreement (American Radio Systems Corp /Ma/), Asset Purchase Agreement (American Radio Systems Corp /Ma/)

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Benefit and Binding Effect. Neither party hereto may assign this Agreement without the prior written consent of the other party hereto, except that Buyer may assign some or all of its rights and obligations under this Agreement to any member of the affiliated group of corporations of which Buyer is a part or unaffiliated entityto any purchaser of successor to Buyer’s business, provided, however, provided that following which assignment Buyer shall remain liable such assignee agrees in writing to Seller for all be bound by the provisions of Buyer's obligations hereunderthis Agreement. This Agreement is for the sole benefit of and shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assignsassigns and is not for the benefit of any other person.

Appears in 3 contracts

Samples: Asset Purchase Agreement, Asset Purchase Agreement (Hennessy Advisors Inc), Asset Purchase Agreement (Hennessy Advisors Inc)

Benefit and Binding Effect. Neither party hereto may assign this Agreement without the prior written consent of the other party hereto, except that Buyer may assign some or all of its rights and obligations under this Agreement to any member of the affiliated group of corporations of which Buyer is a part or unaffiliated entityto any purchaser or successor to Buyer’s business, providedprovided that such assignee agrees in writing to be bound by the provisions of this Agreement and, howeverin any event, that following which assignment Buyer shall remain liable to Seller responsible for all of Buyer's obligations hereunder. This Agreement is for the sole benefit of and shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assignsassigns and is not for the benefit of any other person.

Appears in 3 contracts

Samples: Transaction Agreement (Hennessy Advisors Inc), Asset Purchase Agreement (Hennessy Advisors Inc), Asset Purchase Agreement (FBR & Co.)

Benefit and Binding Effect. Neither party hereto may assign this -------------------------- Agreement without the prior written consent of the other party heretoparty; provided, except however, that Buyer Seller may assign some or all of its rights and but not its obligations under this Agreement to any affiliated or unaffiliated entity, provided, however, that following which assignment Buyer shall remain liable to Seller a Qualified Intermediary for all purposes of effecting a like-kind exchange of property under Section 1031 of the Code without Buyer's obligations hereunderconsent. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.

Appears in 2 contracts

Samples: Asset Purchase Agreement (Mediacom LLC), Asset Purchase Agreement (Mediacom Capital Corp)

Benefit and Binding Effect. Neither party hereto may assign this Agreement without the prior written consent of the other party hereto, except that Buyer may assign its rights and obligations under this Agreement to any a subsidiary or affiliated or unaffiliated entity, provided, however, that following which assignment Buyer shall remain liable to Seller responsible for all of Buyer's obligations hereunder. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.

Appears in 2 contracts

Samples: Asset Purchase Agreement (American Radio Systems Corp /Ma/), Asset Purchase Agreement (American Radio Systems Corp /Ma/)

Benefit and Binding Effect. Neither party hereto may assign this Agreement without the prior written consent of the other party hereto; provided, except that Buyer may assign its rights and obligations under this Agreement to any affiliated or unaffiliated entityentity controlled by the same principals who control Buyer. Subject to the preceding sentence, provided, however, that following which assignment Buyer shall remain liable to Seller for all of Buyer's obligations hereunder. This this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.

Appears in 2 contracts

Samples: Purchase and Sale of Option Agreement (Paxson Communications Corp), Purchase and Sale of Option Agreement (Paxson Communications Corp)

Benefit and Binding Effect. Neither party hereto may assign this Agreement without the prior written consent of the other party hereto, except that Buyer may assign its rights and obligations under this Agreement to any affiliated or unaffiliated entity, provided, however, that following which assignment Buyer shall remain liable to Seller for be released from all of Buyer's its obligations hereunder. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.

Appears in 2 contracts

Samples: Asset Purchase Agreement (Raser Technologies Inc), Asset Purchase Agreement (Getty Realty Corp /Md/)

Benefit and Binding Effect. Neither party hereto may assign this Agreement without the prior written consent of the other party hereto, except that Buyer may assign some or all of its rights and obligations under this Agreement to any affiliated Affiliate of Buyer or unaffiliated entityto any purchaser or successor to Buyer’s business; provided that such assignee agrees in writing to be bound by the provisions of this Agreement and, providedin any event, however, that following which assignment Buyer shall remain liable to Seller responsible for all of Buyer's obligations hereunder. This Agreement is for the sole benefit of and shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assignsassigns and is not for the benefit of any other person.

Appears in 1 contract

Samples: Transaction Agreement (Hennessy Advisors Inc)

Benefit and Binding Effect. Neither party hereto may assign this Agreement without the prior written consent of the other party hereto, except that Buyer may assign its rights and obligations under this Agreement to any affiliated or unaffiliated entity, provided, however, that such assignment does not delay the Closing and that following which assignment Buyer shall remain liable to Seller for all of Buyer's obligations hereunder. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.

Appears in 1 contract

Samples: Asset Purchase Agreement (American Radio Systems Corp /Ma/)

Benefit and Binding Effect. Neither party hereto may assign this Agreement without the prior written consent of the other party hereto, except that Buyer may assign its rights and obligations under this Agreement to any affiliated entity controlled by or unaffiliated entitycommonly controlled with Paxsxx, providedxxovided, however, that following which assignment Buyer shall remain liable to Seller for all of Buyer's obligations hereunder. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.

Appears in 1 contract

Samples: Asset Purchase Agreement (Paxson Communications Corp)

Benefit and Binding Effect. Neither party hereto may assign this Agreement without the prior written consent of the other party hereto; provided, except however, that Buyer may assign its rights and obligations under this Agreement Agreement, in whole or in part, to any affiliated one or unaffiliated entity, provided, however, that following more subsidiaries or commonly controlled affiliates of Buyer without seeking or obtaining Seller's prior approval in which assignment event Buyer shall remain liable hereunder and Buyer may collaterally assign its rights and interests hereunder to Seller for all of Buyerits senior lenders without seeking or obtaining Seller's obligations hereunderprior approval. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.

Appears in 1 contract

Samples: Asset Purchase Agreement (Paxson Communications Corp)

Benefit and Binding Effect. Neither party hereto may assign this Agreement without the prior written consent of the other party hereto, except that Buyer may assign its rights and obligations under this Agreement to any affiliated or unaffiliated entity, provided, however, that following which assignment Buyer shall remain liable to Seller for all of Buyer's its obligations hereunder. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.

Appears in 1 contract

Samples: Asset Purchase Agreement (American Radio Systems Corp /Ma/)

Benefit and Binding Effect. Neither party hereto may assign this Agreement without the prior written consent of the other party hereto, except that Buyer may assign its rights and obligations under this Agreement to any affiliated or unaffiliated entity, provided, however, that following which assignment Buyer shall remain liable to Seller be released from for all of Buyer's its obligations hereunder. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.

Appears in 1 contract

Samples: Asset Purchase Agreement (American Radio Systems Corp /Ma/)

Benefit and Binding Effect. Neither party hereto may assign this Agreement without the prior written consent of the other party hereto, except that that, without the prior written consent of Seller, Buyer may assign its rights and obligations under this Agreement to any affiliated entity controlling, controlled by or unaffiliated entityunder common control with Buyer or any successor of Buyer by way of merger, providedacquisition, howeverreorganization or other similar corporate transaction, that following which assignment and, upon the assumption by such assignee of all liabilities and obligations of Buyer hereunder, Buyer shall remain liable be released from all liabilities and obligations to Seller for all of Buyer's obligations hereunderpursuant to this Agreement. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.

Appears in 1 contract

Samples: Asset Purchase Agreement (Deep Green Waste & Recycling, Inc.)

Benefit and Binding Effect. Neither No party hereto may assign this Agreement without the prior written consent of the other party parties hereto, except that Buyer may assign its rights under this Agreement, in whole or in part, without the consent of Seller or the Company to any Person which it controls, and Buyer may collaterally assign its rights and obligations under this Agreement hereunder to any affiliated its lenders without obtaining the consent of Seller or unaffiliated entity, provided, however, that following which assignment Buyer shall remain liable to Seller for all of Buyer's obligations hereunderthe Company. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.

Appears in 1 contract

Samples: Partnership Interest Purchase Agreement (Paxson Communications Corp)

Benefit and Binding Effect. Neither party hereto Buyer nor the Seller may assign this Agreement without the prior written consent of the other party hereto, except that Buyer may assign its rights and obligations under this Agreement to any affiliated or unaffiliated entity, provided, however, that following which assignment Buyer shall remain liable to Seller for all of Buyer's obligations hereunderparty. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns. Except as specifically set forth or referred to herein, nothing herein expressed or implied is intended or shall be construed to confer upon or give to any Person other than the parties hereto and their respective successors or assigns any rights or remedies under or by reason of this Agreement.

Appears in 1 contract

Samples: Stock Purchase Agreement (Veriteq)

Benefit and Binding Effect. Neither party hereto may assign this Agreement without the prior written consent of the other party hereto; provided, except however, that Buyer may assign its rights and obligations under this Agreement to any affiliated one or unaffiliated entity, provided, however, that following which assignment more subsidiaries or commonly controlled affiliates of Buyer shall remain liable to Seller for all of Buyerwithout seeking or obtaining Seller's obligations hereunder. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assignsprior approval.

Appears in 1 contract

Samples: Asset Purchase Agreement (Paxson Communications Corp)

Benefit and Binding Effect. Neither party hereto may assign this Agreement without the prior written consent of the other party hereto; provided, except however, that Buyer may assign its rights and obligations under this Agreement Agreement, in whole or in part, to any affiliated one or unaffiliated entity, provided, however, that following which assignment more subsidiaries or commonly controlled affiliates of Buyer shall remain liable to Seller for all of Buyer's obligations hereunder. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.without seeking or obtaining

Appears in 1 contract

Samples: Asset Purchase Agreement (Paxson Communications Corp)

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Benefit and Binding Effect. Neither party hereto may assign this Agreement without the prior written consent of the other party hereto, except that Buyer may assign some or all of its rights and obligations under this Agreement to any member of the affiliated group of corporations of which Buyer is a part or unaffiliated entity, provided, however, that following which assignment Buyer shall remain liable to Seller for all any purchaser of successor to Buyer's obligations hereunderbusiness, provided that such assignee agrees in writing to be bound by the provisions of this Agreement. This Agreement is for the sole benefit of and shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assignsassigns and is not for the benefit of any other person.

Appears in 1 contract

Samples: Asset Purchase Agreement (Hennessy Advisors Inc)

Benefit and Binding Effect. Neither No party hereto may assign this Agreement without the prior written consent of the other party parties hereto, except that Buyer may assign some or all of its rights and obligations rights, but not its obligations, under this Agreement to any affiliated or unaffiliated entity, provided, however, an Affiliate of Buyer; provided that following which assignment such assignee agrees in writing to be bound by the provisions of this Agreement and Buyer shall remain remains liable to Seller for all of Buyer's its obligations hereunderarising under this Agreement. This Agreement is for the sole benefit of and shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assignsassigns and is not for the benefit of any other person.

Appears in 1 contract

Samples: Membership Interest Purchase Agreement (Virtus Investment Partners, Inc.)

Benefit and Binding Effect. Neither party None of the parties hereto may assign this Agreement without the prior written consent of the other party parties hereto, except that Buyer may assign any or all its rights and obligations under this Agreement without obtaining Seller's consent to any affiliated another entity or unaffiliated entityindividual, provided, however, that following which assignment Buyer shall remain liable to Seller for all provided such assignee is legally and financially capable of performing Buyer's obligations hereunder. Buyer shall not be released of any liabilities or obligations to Seller until the Closing between Seller and such assignee. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.

Appears in 1 contract

Samples: Asset Purchase Agreement (Spanish Broadcasting System Inc)

Benefit and Binding Effect. Neither No party hereto may assign this Agreement without the prior written consent of the other party parties hereto, except that Buyer may assign its rights and obligations under this Agreement without the consent of Sellers or Civic to any affiliated or unaffiliated entity, provided, however, that following which assignment of its Affiliates so long as Buyer shall remain fully liable to Seller for all the performance of Buyerits and its assignee's obligations hereunder. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.

Appears in 1 contract

Samples: Stock Purchase Agreement (Liberty Corp)

Benefit and Binding Effect. Neither No party hereto may assign this Agreement without the prior written consent of the other party parties hereto, except that the Buyer may transfer and assign its rights and obligations under this Agreement interests hereunder to any affiliated or unaffiliated entity, provided, however, that following which assignment Buyer shall remain liable to Seller for all of Buyer's obligations hereundera wholly-owned subsidiary. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.

Appears in 1 contract

Samples: Stock Purchase Agreement (Baker & Taylor Corp)

Benefit and Binding Effect. Neither party hereto Buyer nor the Seller may assign this Agreement without the prior written consent of the other party hereto, except that Buyer may assign its rights and obligations under this Agreement to any affiliated or unaffiliated entity, provided, however, that following which assignment Buyer shall remain liable to Seller for all of Buyer's obligations hereunderparty. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns. Except as specifically set forth or referred to herein, nothing herein expressed or implied is intend-ed or shall be construed to confer upon or give to any Person other than the parties hereto and their respective successors or assigns any rights or remedies under or by reason of this Agreement.

Appears in 1 contract

Samples: Stock Purchase Agreement (Sanomedics, Inc.)

Benefit and Binding Effect. Neither No party hereto may assign this Agreement without the prior written consent of the other party parties hereto, except that Buyer may assign its rights and obligations under this Agreement Agreement, in whole or in part, without the consent of the other parties, to any affiliated or unaffiliated entity, Affiliate of Buyer; provided, however, that following which Buyer provides the other parties with written notice at the time of such assignment Buyer shall remain liable to Seller for all and guarantees the performance of Buyer's its obligations hereunderhereunder by the assignee. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.

Appears in 1 contract

Samples: Stock Purchase Agreement (Journal Communications Inc)

Benefit and Binding Effect. Neither party hereto may assign this Agreement without the prior written consent of the other party hereto; provided, except however, that Buyer may assign its rights and obligations under this Agreement Agreement, upon notice to any affiliated Sellers, to a majority-owned entity in which the owners of the stock of Buyer have an equity or unaffiliated entity, provided, however, that following which assignment Buyer shall remain liable to Seller for all of Buyer's obligations hereunderoperating interest. This Agreement shall be binding binding- upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.

Appears in 1 contract

Samples: Asset Purchase Agreement (Impart Media Group Inc)

Benefit and Binding Effect. Neither party hereto may assign this Agreement without the prior written consent of the other party hereto, except that Buyer may assign its rights and obligations under this Agreement to any affiliated entity controlled by or unaffiliated entitycommonly controlled with Paxson, provided, however, that following which assignment Buyer shall Buyxx xxall remain liable to Seller for all of Buyer's obligations hereunder. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.

Appears in 1 contract

Samples: Asset Purchase Agreement (American Radio Systems Corp /Ma/)

Benefit and Binding Effect. Neither party hereto may assign this -------------------------- Agreement without the prior written consent of the other party hereto, except that Buyer may assign its rights and obligations under this Agreement to any affiliated or unaffiliated entity, provided, however, ; provided that following which such assignment Buyer shall remain liable to Seller for all of the obligations of the Buyer's obligations hereunder. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.

Appears in 1 contract

Samples: Asset Purchase Agreement (Salem Communications Corp /De/)

Benefit and Binding Effect. Neither party hereto Buyer nor the Seller may assign this Agreement without the prior written consent of the other party hereto, except that Buyer may assign its rights and obligations under this Agreement to any affiliated or unaffiliated entity, provided, however, that following which assignment Buyer shall remain liable to Seller for all of Buyer's obligations hereunderparty. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns. Except as specifically set forth or referred to herein, nothing herein expressed or implied is intend­ed or shall be construed to confer upon or give to any Person other than the parties hereto and their respective successors or assigns any rights or remedies under or by reason of this Agreement.

Appears in 1 contract

Samples: Stock Purchase Agreement (HydroPhi Technologies Group, Inc.)

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