Common use of Binding Effect; Assignability; Survival of Provisions Clause in Contracts

Binding Effect; Assignability; Survival of Provisions. This Agreement shall be binding upon and inure to the benefit of Buyer and the Sellers and their respective successors and permitted assigns (including, in the case of the Buyer, the Trustee). No Seller may assign any of its rights hereunder or any interest herein without (i) the prior written consent of Buyer and the Trustee and (ii) the satisfaction of the Modification Condition. This Agreement shall create and constitute the continuing obligations of the parties hereto in accordance with its terms, and shall remain in full force and effect until the first date following the Purchase Termination Date, but not later than the date on which the Trust is terminated pursuant to Section 12.1 of the Pooling Agreement, on which all Obligations shall have been finally and fully paid and performed or such other time as the parties hereto shall agree and as to which the Trustee (at the direction of the Majority Investors) shall have given its prior written consent, which consent shall not be unreasonably withheld or delayed. The rights and remedies with respect to any breach of any representation and warranty made by a Seller pursuant to Article V and the indemnification and payment provisions of Article IX and Section 10.6 shall be continuing and shall survive any termination of this Agreement.

Appears in 2 contracts

Samples: Receivables Purchase Agreement (International Comfort Products Corp), Receivables Purchase Agreement (International Comfort Products Corp)

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Binding Effect; Assignability; Survival of Provisions. This Agreement shall be binding upon and inure to the benefit of Buyer and the Sellers and their respective successors and permitted assigns (including, in the case of the Buyer, the Trustee)assigns. No Seller may assign any of its rights hereunder or any interest herein without (i) the prior written consent of Buyer and the Trustee and (ii) the satisfaction of the Modification ConditionAgent. This Agreement shall create and constitute the continuing obligations of the parties hereto in accordance with its terms, and shall remain in full force and effect until the first date following the Purchase Termination Date, but not later than the date on which the Trust is terminated pursuant to Section 12.1 of the Pooling Agreement, on which all Obligations shall have been finally and fully paid and performed or such other time as the parties hereto shall agree and as to which the Trustee (at the direction of the Majority Investors) Agent shall have given its prior written consent, which consent shall not be unreasonably withheld or delayed. The rights and remedies with respect to any breach of any representation and warranty made by a Seller pursuant to Article V and or of any covenant made by a Seller in Article VI, the indemnification and payment provisions of Article IX and Section 10.6 10.6, and the provisions of Sections 10.3, 10.4, 10.5, 10.7, 10.8, 10.9, 10.11, 10.12, 10.13, and 10.15, shall be continuing and shall survive any termination of this Agreement.

Appears in 2 contracts

Samples: Receivables Purchase Agreement (Chemtura CORP), Receivables Purchase Agreement (Crompton & Knowles Corp)

Binding Effect; Assignability; Survival of Provisions. This Agreement shall be binding upon and inure to the benefit of Buyer and the Sellers and their respective successors and permitted assigns (including, in the case of the Buyer, the Trustee)assigns. No Seller may assign any of its rights hereunder or any interest herein without (i) the prior written consent of Buyer and the Trustee and (ii) the satisfaction of the Modification Condition. This Agreement shall create and constitute the continuing obligations of the parties hereto in accordance with its terms, and shall remain in full force and effect until the first date following the Purchase Termination Date, but not later than the date on which the Trust is obligations of the Issuer under the Indenture are terminated pursuant to Section 12.1 of the Pooling Agreementthereof, on which all Obligations shall have been finally and fully paid and performed or such other time as the parties hereto shall agree and as to which the Trustee (at the direction of the Majority Investors) shall have given its prior written consent, which consent shall not be unreasonably withheld or delayed. The rights and remedies with respect to any breach of any representation and warranty made by a Seller pursuant to Article ARTICLE V and the indemnification and payment provisions of Article ARTICLE IX and Section SECTION 10.6 shall be continuing and shall survive any termination of this Agreement.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Vertis Inc)

Binding Effect; Assignability; Survival of Provisions. This Purchase Agreement shall be binding upon and inure to the benefit of Buyer and the Sellers WPS Fincx, Xxller and their respective successors and permitted assigns (including, in the case of the Buyer, the Trustee)assigns. No Seller may not assign any of its rights hereunder or any interest herein without (i) the prior written consent of Buyer and the Trustee and (ii) the satisfaction WPS Fincx xxx of the Modification ConditionAdministrator (on Blue Ridge's behalf). This Purchase Agreement shall create and constitute the continuing obligations of the parties hereto in accordance with its terms, and shall remain in full force and effect until the earlier of (i) the first date following the Purchase Termination Date, but not later than (ii) the date on which the Trust is terminated Transferee's Total Investment shall have been reduced to zero pursuant to Section 12.1 3.02 of the Pooling Asset Interest Transfer Agreement, on which and all Obligations of Seller hereunder shall have been finally and fully paid and performed or and (iii) such other later time as the parties hereto shall agree and as to which the Trustee (at the direction of the Majority Investors) shall have given its prior written consent, which consent shall not be unreasonably withheld or delayedagree. The rights and remedies with respect to any breach of any representation and warranty made by a Seller pursuant to Article V and the indemnification and payment provisions of Article IX and Section 10.6 shall be continuing and shall survive any termination of this Purchase Agreement.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Westpoint Stevens Inc)

Binding Effect; Assignability; Survival of Provisions. This Agreement shall be binding upon and inure to the benefit of Buyer and the Sellers and their respective successors and permitted assigns (including, in the case of the Buyer, the Trustee)assigns. No Seller may assign any of its rights hereunder or any interest herein without (i) the prior written consent of Buyer and the Trustee and (ii) the satisfaction of the Modification Condition. This Agreement shall create and constitute the continuing obligations of the parties hereto in accordance with its terms, and shall remain in full force and effect until the first date following the Purchase Termination Date, but not later than the date on which the Trust is terminated pursuant to Section 12.1 of the Pooling Agreement, on which all Obligations shall have been finally and fully paid and performed or such other time as the parties hereto shall agree and as to which the Trustee (at the direction of the Majority Investors) shall have given its prior written consent, which consent shall not be unreasonably withheld or delayed. The rights and remedies with respect to any breach of any representation and warranty made by a Seller pursuant to Article V and the indemnification and payment provisions of Article IX and Section 10.6 shall be continuing and shall survive any termination of this Agreement.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Big Flower Press Holdings Inc)

Binding Effect; Assignability; Survival of Provisions. This Agreement shall be binding upon and inure to the benefit of Buyer NAFCO and the Sellers Seller and their its respective successors and permitted assigns (including, in the case of the Buyer, the Trustee)assigns. No The Seller may not assign any of its rights hereunder or any interest herein without (i) the prior written consent of Buyer and NAFCO, the Trustee and (ii) the satisfaction of the Modification ConditionApplicable Rating Agencies. This Agreement shall create and constitute the continuing obligations of the parties hereto in accordance with its terms, and shall remain in full force and effect until the first date following the Purchase Termination Date, but not later than the date on which the Trust is terminated pursuant to Section 12.1 12.01 of the Pooling and Administration Agreement, on which all Obligations of the Seller shall have been finally and fully paid and performed or such other time as the parties hereto shall agree and as to which the Trustee (at the direction of the Majority InvestorsCertificateholders) shall have given its prior written consent, which consent shall not be unreasonably withheld or delayed. The rights and remedies with respect to any breach of any representation and warranty made by a Seller pursuant to Article V and the indemnification and payment provisions of Article IX and Section 10.6 shall be continuing and shall survive any termination of this Agreement.

Appears in 1 contract

Samples: Receivables Purchase Agreement (National Auto Finance Co Inc)

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Binding Effect; Assignability; Survival of Provisions. This Agreement shall be binding upon and inure to the benefit of Buyer and the Sellers and their respective successors and permitted assigns (including, in the case of the Buyer, the Trustee)assigns. No Seller may assign any of its rights hereunder or any interest herein without unless (i) it has obtained the prior written consent of Buyer and the Trustee and (ii) such amendment would not result in any Material Adverse Effect on the satisfaction rights and interests of any Third Party Financier under the Modification Conditionapplicable Third Party Documents. This Agreement shall create and constitute the continuing obligations of the parties hereto in accordance with its terms, and shall remain in full force and effect until the first date following the Purchase Termination Date, but not later than the date on which the Trust is terminated pursuant Obligations payable to Section 12.1 of the Pooling Agreement, on which all Obligations Third Party Financiers shall have been finally and fully paid and performed or such other time as the parties hereto shall agree and as to which the Trustee (at the direction of the Majority Investors) Third Party Financiers shall have given its their prior written consent, which consent shall not be unreasonably withheld or delayed. The rights and remedies with respect to any breach of any representation and warranty made by a Seller pursuant to Article V and the indemnification and payment provisions of Article IX --------- ------- X and Section 10.6 11.6 shall be continuing and shall survive any termination of this - ------------ Agreement.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Alliance Laundry Holdings LLC)

Binding Effect; Assignability; Survival of Provisions. This Purchase Agreement shall be binding upon and inure to the benefit of Buyer and the Sellers WPS Xxxxx, Seller and their respective successors and permitted assigns (including, in the case of the Buyer, the Trustee)assigns. No Seller may not assign any of its rights hereunder or any interest herein without (i) the prior written consent of Buyer WPS Xxxxx, the Insurer and the Trustee and Administrator (ii) the satisfaction on behalf of the Modification ConditionSecured Parties). This Purchase Agreement shall create and constitute the continuing obligations of the parties hereto in accordance with its terms, and shall remain in full force and effect until the earlier of (i) the first date following the Purchase Termination Date, but not later than (ii) the date on which the Trust is terminated Transferee's Total Investment shall have been reduced to zero pursuant to Section 12.1 3.02 of the Pooling AgreementAmended and Restated AITA, on which and all Obligations of Seller hereunder shall have been finally and fully paid and performed or and (iii) such other later time as the parties hereto shall agree and as to which the Trustee (at the direction of the Majority Investors) shall have given its prior written consent, which consent shall not be unreasonably withheld or delayedagree. The rights and remedies with respect to any breach of any representation and warranty made by a Seller pursuant to Article V and the indemnification and payment provisions of Article IX and Section 10.6 shall be continuing and shall survive any termination of this Purchase Agreement.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Westpoint Stevens Inc)

Binding Effect; Assignability; Survival of Provisions. This ----------------------------------------------------- Agreement shall be binding upon and inure to the benefit of each of Buyer and the Sellers Seller and their its respective successors and permitted assigns (including, in the case of the Buyer, the TrusteeSecond Step Purchaser). No Seller may not assign any of its rights hereunder or any interest herein without (i) the prior written consent of Buyer and the Trustee and (ii) the satisfaction of the Modification ConditionBuyer. This Agreement shall create and constitute the continuing obligations of the parties hereto in accordance with its terms, and shall remain in full force and effect until the first date following the Purchase Termination Date, but not later than the date on which the Trust Purchase Agreement is terminated pursuant to Section 12.1 2.03(c) of the Pooling Purchase Agreement, on which all Obligations obligations shall have been finally and fully paid and performed or such other time as the parties hereto shall agree and as to which the Trustee (at the direction of the Majority Investors) shall have given its prior written consent, which consent shall not be unreasonably withheld or delayedagree. The rights and remedies with respect to any breach of any representation and warranty made by a Seller pursuant to Article V and the --------- indemnification and payment provisions of Article IX and Section 10.6 shall be ---------- ------------ continuing and shall survive any termination of this Agreement.

Appears in 1 contract

Samples: Sale Agreement (Exide Corp)

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