Common use of Binding Effect; Acceptance Clause in Contracts

Binding Effect; Acceptance. The Senior Lender and each Subordinated Creditor agrees that this Agreement shall be binding upon each Subordinated Creditor, each Subordinated Creditor’s successors and assigns and shall inure to the benefit of the Senior Lender and its participants, successors and assigns irrespective of whether this or any similar agreement is executed by any other creditor of any Obligor. Each Subordinated Creditor agrees that notice of acceptance by the Senior Lender of this Agreement or of reliance by the Senior Lender upon this Agreement is hereby waived by each Subordinated Creditor.

Appears in 3 contracts

Samples: Subordination Agreement (Global Employment Holdings, Inc.), Subordination Agreement (Global Employment Holdings, Inc.), Subordination Agreement (Global Employment Holdings, Inc.)

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Binding Effect; Acceptance. The Senior Lender and each Subordinated Creditor agrees that this This Agreement shall be binding upon each the Subordinated Creditor, each Creditor and the Subordinated Creditor’s heirs, legal representatives, successors and assigns and shall inure to the benefit of the Senior Lender and its participants, successors and assigns irrespective of whether this or any similar agreement is executed by any other creditor of any Obligorthe Borrower. Each Subordinated Creditor agrees that notice Notice of acceptance by the Senior Lender of this Agreement or of reliance by the Senior Lender upon this Agreement is hereby waived by each the Subordinated Creditor.

Appears in 3 contracts

Samples: Subordination Agreement (MGP Ingredients Inc), Subordination Agreement (MGP Ingredients Inc), Subordination Agreement (MGP Ingredients Inc)

Binding Effect; Acceptance. The Senior Lender and each Subordinated Creditor agrees that this This Agreement shall be binding upon each the Subordinated Creditor and the Subordinated Creditor's heirs, each Subordinated Creditor’s legal representatives, successors and assigns and shall inure to the benefit of the Senior Lender and its participants, successors and assigns irrespective of whether this or any similar agreement is executed by any other creditor of any Obligor. Each Subordinated Creditor agrees that notice of the Borrower. Notice of acceptance by the Senior Lender of this Agreement or of reliance by the Senior Lender upon this Agreement is hereby waived by each the Subordinated Creditor.

Appears in 3 contracts

Samples: Subordination Agreement (Chaparral Network Storage Inc), Subordination Agreement (Nord Resources Corp), Subordination Agreement (Nord Resources Corp)

Binding Effect; Acceptance. The Senior Lender and each Subordinated Creditor agrees that this This Agreement shall be binding upon each the Subordinated Creditor, each Creditor and the Subordinated Creditor’s heirs, legal representatives, successors and assigns and shall inure to the benefit of the Senior Lender and its participants, successors and assigns irrespective of whether this or any similar agreement is executed by any other creditor of any Obligor. Each Subordinated Creditor agrees that notice of the Borrower. Notice of acceptance by the Senior Lender of this Agreement or of reliance by the Senior Lender upon this Agreement is hereby waived by each the Subordinated Creditor.

Appears in 2 contracts

Samples: Subordination Agreement (Sportsmans Guide Inc), Subordination Agreement (San Holdings Inc)

Binding Effect; Acceptance. The Senior Lender and each Subordinated Creditor agrees that this This Agreement shall be binding upon each the Subordinated Creditor and the Subordinated Creditor's heirs, each Subordinated Creditor’s legal representatives, successors and assigns and shall inure to the benefit of the Senior Lender and its participants, successors and assigns irrespective of whether this or any similar agreement is executed by any other creditor of any Obligor. Each Subordinated Creditor agrees that notice of the Borrower. Notice of acceptance by the Senior Lender of this Agreement or of reliance by the Senior Lender upon this Agreement is hereby waived by each the Subordinated Creditor.

Appears in 2 contracts

Samples: Subordination Agreement (2nd Swing Inc), Subordination Agreement (Bouncebacktechnologies Com Inc)

Binding Effect; Acceptance. The Senior Lender and each Subordinated Creditor agrees that this This Agreement shall be binding upon each Subordinated Creditor, each Creditor and Subordinated Creditor’s heirs, legal representatives, successors and assigns and shall inure to the benefit of the Senior Lender and its participants, successors and assigns irrespective of whether this or any similar agreement is executed by any other creditor of any Obligor. Each Subordinated Creditor agrees that notice of Borrower. Notice of acceptance by the Senior Lender of this Agreement or of reliance by the Senior Lender upon this Agreement is hereby waived by each Subordinated Creditor.

Appears in 2 contracts

Samples: Subordination Agreement (Naturade Inc), Loan Agreement (Naturade Inc)

Binding Effect; Acceptance. The Senior Lender and each Subordinated Creditor agrees that this This Agreement shall be binding upon each the Subordinated CreditorCreditors and the Subordinated Creditors’ heirs, each Subordinated Creditor’s legal representatives, successors and assigns and shall inure to the benefit of the Senior Lender and its participants, successors and assigns irrespective of whether this or any similar agreement is executed by any other subordinated creditor of any ObligorBorrower. Each Subordinated Creditor agrees that notice Notice of acceptance by the Senior Lender of this Agreement or of reliance by the Senior Lender upon this Agreement is hereby waived by each the Subordinated Creditor.

Appears in 2 contracts

Samples: Subordination Agreement (Miscor Group, Ltd.), Subordination Agreement (Miscor Group, Ltd.)

Binding Effect; Acceptance. The Senior Lender and each Subordinated Creditor agrees that this This Agreement shall be binding upon each the Subordinated Creditor, each Creditor and the Subordinated Creditor’s successors heirs, legal representatives, and assigns and shall inure to the benefit of the Senior Lender and its participants, successors and assigns assigns, irrespective of whether this or any similar agreement is executed by any other subordinated creditor of any ObligorBorrower. Each Subordinated Creditor agrees that notice Notice of acceptance by the Senior Lender of this Agreement or of reliance by the Senior Lender upon this Agreement is hereby waived by each the Subordinated Creditor.

Appears in 1 contract

Samples: Subordination Agreement (Miscor Group, Ltd.)

Binding Effect; Acceptance. The Senior Lender and each Subordinated Creditor agrees that this This Agreement shall be binding upon each the Subordinated Creditor and the Subordinated Creditor's heirs, each Subordinated Creditor’s legal representatives, successors and assigns and shall inure to the benefit of the Senior Lender Lenders and its the Agent and their participants, successors and assigns irrespective of whether this or any similar agreement is executed by any other creditor of any Obligor. Each Subordinated Creditor agrees that notice of the Borrower. Notice of acceptance by the Senior Lender Lenders and the Agent of this Agreement or of reliance by the Senior Agent or any Lender upon this Agreement is hereby waived by each the Subordinated Creditor.

Appears in 1 contract

Samples: Subordination Agreement (Sheldahl Inc)

Binding Effect; Acceptance. The Senior Lender and each Subordinated Creditor agrees that this This Agreement shall be binding upon each the Subordinated CreditorCreditors and the Subordinated Creditors’ heirs, each Subordinated Creditor’s legal representatives, successors and assigns and shall inure to the benefit of the Senior Lender and its participants, successors and assigns irrespective of whether this or any similar agreement is executed by any other subordinated creditor of any ObligorBorrower. Each Subordinated Creditor agrees that notice Notice of acceptance by the Senior Lender of this Agreement or of reliance by the Senior Lender upon this Agreement is hereby waived by each the Subordinated CreditorCreditors.

Appears in 1 contract

Samples: Subordination Agreement (Miscor Group, Ltd.)

Binding Effect; Acceptance. The Senior Lender and each Subordinated Creditor agrees that this This Agreement shall be binding upon each the Subordinated Creditor, each Creditor and the Subordinated Creditor’s successors and assigns and shall inure to the benefit of the Senior Lender and its participants, successors and assigns irrespective of whether this or any similar agreement is executed by any other creditor of any Obligorthe Borrower. Each Subordinated Creditor agrees that notice Notice of acceptance by the Senior Lender of this Agreement or of reliance by the Senior Lender upon this Agreement is hereby waived by each the Subordinated Creditor.

Appears in 1 contract

Samples: Subordination Agreement (MGP Ingredients Inc)

Binding Effect; Acceptance. The Senior Lender and each Subordinated Creditor agrees that this This Agreement shall be binding upon each the Subordinated Creditor and the Subordinated Creditor's heirs, each Subordinated Creditor’s legal representatives, successors and assigns and shall inure to the benefit of the Senior Lender Agent and its participants, successors and assigns irrespective of whether this or any similar agreement is executed by any other creditor of any Obligorthe Company. Each Subordinated Creditor agrees that notice Notice of acceptance by the Senior Lender Agent of this Agreement or of reliance by the Senior Lender Agent upon this Agreement is hereby waived by each the Subordinated Creditor.

Appears in 1 contract

Samples: Subordination and Intercreditor Agreement (Teletouch Communications Inc)

Binding Effect; Acceptance. The Senior Lender and each Subordinated Creditor agrees that this This Agreement shall be binding upon each -------------------------- the Subordinated Creditor and the Subordinated Creditor's heirs, each Subordinated Creditor’s legal representatives, successors and assigns and shall inure to the benefit of the Senior Lender and its participants, successors and assigns assigns, irrespective of whether this or any similar agreement is executed by any other subordinated creditor of any Obligorthe Borrower. Each Subordinated Creditor agrees that notice Notice of acceptance by the Senior Lender of this Agreement or of reliance by the Senior Lender upon this Agreement is hereby waived by each the Subordinated Creditor.

Appears in 1 contract

Samples: Subordination Agreement (Teletouch Communications Inc)

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Binding Effect; Acceptance. The Senior Lender and each Subordinated Creditor agrees that this This Agreement shall be binding upon each the Subordinated Creditor and the Subordinated Creditor's heirs, each Subordinated Creditor’s legal representatives, successors and assigns and shall inure to the benefit of the Senior Lender and its participants, successors and assigns irrespective of whether this or any similar agreement is executed by any other creditor of any Obligor. Each Subordinated Creditor agrees that notice of the Borrower, or the Subsidiaries. Notice of acceptance by the Senior Lender of this Agreement or of reliance by the Senior Lender upon this Agreement is hereby waived by each the Subordinated Creditor.

Appears in 1 contract

Samples: Credit and Security Agreement (Autotradecenter Com Inc)

Binding Effect; Acceptance. The Senior Lender and each Subordinated Creditor agrees that this This Agreement shall be binding upon each the Subordinated Creditor, each Creditor and the Subordinated Creditor’s legal representatives, successors and assigns and shall inure to the benefit of the Senior Lender Banks and its their participants, successors and assigns irrespective of whether this or any similar agreement is executed by any other creditor of any Obligor. Each Subordinated Creditor agrees that notice of the Borrowers. Notice of acceptance by the Senior Lender Banks of this Agreement or of reliance by the Senior Lender Banks upon this Agreement is hereby waived by each the Subordinated Creditor.

Appears in 1 contract

Samples: Secured Senior Lending Agreement (Pioneer Financial Services Inc)

Binding Effect; Acceptance. The Senior Lender and each Subordinated Creditor agrees that this This Agreement shall be binding upon each the Subordinated Creditor, each Creditor and the Subordinated Creditor’s heirs, legal representatives, successors and assigns and shall inure to the benefit of the Senior Lender and its participants, successors and assigns irrespective of whether this or any similar agreement is executed by any other creditor of any ObligorIngredients. Each Subordinated Creditor agrees that notice Notice of acceptance by the Senior Lender of this Agreement or of reliance by the Senior Lender upon this Agreement is hereby waived by each the Subordinated Creditor.

Appears in 1 contract

Samples: Subordination Agreement (MGP Ingredients Inc)

Binding Effect; Acceptance. The Senior Lender and each Subordinated Creditor agrees that this This Agreement shall be binding upon each the Subordinated Creditor and the Subordinated Creditor's legal representatives, each Subordinated Creditor’s successors and assigns and shall inure to the benefit of the Senior Lender Banks and its their participants, successors and assigns irrespective of whether this or any similar agreement is executed by any other creditor of any Obligor. Each Subordinated Creditor agrees that notice of the Borrowers. Notice of acceptance by the Senior Lender Banks of this Agreement or of reliance by the Senior Lender Banks upon this Agreement is hereby waived by each the Subordinated Creditor.

Appears in 1 contract

Samples: Secured Senior Lending Agreement (Pioneer Financial Services Inc)

Binding Effect; Acceptance. The Senior Lender and each Subordinated Creditor agrees that this This Agreement shall be binding upon each the Subordinated Creditor, each Creditor and the Subordinated Creditor’s legal representatives, successors and assigns and shall inure to the benefit of the Senior Lender Lenders and its their participants, successors and assigns irrespective of whether this or any similar agreement is executed by any other creditor of any Obligor. Each Subordinated Creditor agrees that notice of the Borrower. Notice of acceptance by the Senior Lender Lenders of this Agreement or of reliance by the Senior Lender Lenders upon this Agreement is hereby waived by each the Subordinated Creditor.

Appears in 1 contract

Samples: Senior Lending Agreement (Pioneer Financial Services Inc)

Binding Effect; Acceptance. The Senior Lender and each Subordinated Creditor agrees that this This Agreement shall be binding upon each the Subordinated Creditor, each Creditor and the Subordinated Creditor’s heirs, legal representatives, successors and assigns and shall inure to the benefit of the Senior Lender and its participants, successors and assigns irrespective of whether this or any similar agreement is executed by any other subordinated creditor of any ObligorBorrower. Each Subordinated Creditor agrees that notice Notice of acceptance by the Senior Lender of this Agreement or of reliance by the Senior Lender upon this Agreement is hereby waived by each the Subordinated Creditor.

Appears in 1 contract

Samples: Subordination Agreement (Miscor Group, Ltd.)

Binding Effect; Acceptance. The Senior Lender and each Subordinated Creditor agrees that this This Agreement shall be binding upon each the Subordinated Creditor, each Creditor and the Subordinated Creditor’s successors heirs, legal representatives, and assigns and shall inure to the benefit of the Senior Lender Lenders and its their respective participants, successors and assigns assigns, irrespective of whether this or any similar agreement is executed by any other subordinated creditor of any ObligorBorrower. Each Subordinated Creditor agrees that notice Notice of acceptance by the Senior Lender Lenders of this Agreement or of reliance by the Senior Lender Lenders upon this Agreement is hereby waived by each the Subordinated Creditor.

Appears in 1 contract

Samples: Subordination Agreement (Miscor Group, Ltd.)

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