Common use of Binding Effect; Acceptance Clause in Contracts

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

Appears in 3 contracts

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

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

Appears in 2 contracts

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

Binding Effect; Acceptance. This Agreement shall be binding upon the Subordinated 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 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 the Subordinated Creditor.

Appears in 2 contracts

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

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

Appears in 2 contracts

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

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

Appears in 2 contracts

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

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

Appears in 1 contract

Samples: Subordination Agreement (Miscor Group, Ltd.)

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

Appears in 1 contract

Samples: Senior Lending Agreement (Pioneer Financial Services Inc)

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

Appears in 1 contract

Samples: Subordination Agreement (Miscor Group, Ltd.)

Binding Effect; Acceptance. This Agreement shall be binding upon the Subordinated Creditor and the Subordinated Creditor's heirs, legal representatives, successors and assigns and shall inure to the benefit of the 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 Subordinated Creditor of the Borrower. Notice of acceptance by the Lender Lenders and the Agent of this Agreement or of reliance by the Agent or any Lender upon this Agreement is hereby waived by the Subordinated Creditor.

Appears in 1 contract

Samples: Subordination Agreement (Sheldahl Inc)

Binding Effect; Acceptance. This Agreement shall be binding upon the Subordinated Creditor and the Subordinated Creditor's ’s heirs, legal representatives, successors and assigns and shall inure to the benefit of the 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 subordinated creditor of the any Borrower. Notice of acceptance by the Lender Lenders of this Agreement or of reliance by the Lender Lenders upon this Agreement is hereby waived by the Subordinated Creditor.

Appears in 1 contract

Samples: Miscor Group, Ltd.

Binding Effect; Acceptance. This Agreement shall be binding upon the Subordinated Creditor and the Subordinated Creditor's heirs, legal representatives, successors and assigns and shall inure to the benefit of the Lender Banks and its their participants, successors and assigns irrespective of whether this or any similar agreement is executed by any other Subordinated Creditor of the BorrowerBorrowers. Notice of acceptance by the Lender Banks of this Agreement or of reliance by the Lender Banks upon this Agreement is hereby waived by the Subordinated Creditor.

Appears in 1 contract

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

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Binding Effect; Acceptance. This Agreement shall be binding upon the Subordinated Creditor and the Subordinated Creditor's heirs, legal representatives, ’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 Subordinated Creditor creditor 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 the Subordinated Creditor.

Appears in 1 contract

Samples: Subordination Agreement (MGP Ingredients Inc)

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

Appears in 1 contract

Samples: Subordination and Intercreditor Agreement (Teletouch Communications Inc)

Binding Effect; Acceptance. This Agreement shall be binding upon -------------------------- the Subordinated 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 assigns, irrespective of whether this or any similar agreement is executed by any other Subordinated Creditor subordinated creditor 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 the Subordinated Creditor.

Appears in 1 contract

Samples: Subordination Agreement (Teletouch Communications Inc)

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

Appears in 1 contract

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

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

Appears in 1 contract

Samples: Subordination Agreement (Autotradecenter Com Inc)

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

Appears in 1 contract

Samples: Subordination Agreement (Miscor Group, Ltd.)

Binding Effect; Acceptance. This Agreement shall be binding upon the Subordinated Creditor and the Subordinated Creditor's ’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 creditor of the BorrowerIngredients. Notice of acceptance by the Senior Lender of this Agreement or of reliance by the Senior Lender upon this Agreement is hereby waived by the Subordinated Creditor.

Appears in 1 contract

Samples: Subordination Agreement (MGP Ingredients Inc)

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