Common use of Binding Effect; Assignment; Termination Clause in Contracts

Binding Effect; Assignment; Termination. This letter agreement shall --------------------------------------- be binding upon the Borrower, its successors and assigns and shall inure to the benefit of the Borrower and the Bank and their respective permitted successors and assigns. The Borrower may not assign this letter agreement or any rights hereunder without the express written consent of the Bank. The Bank may, in accordance with applicable law, from time to time assign or grant participations in this letter agreement, the Revolving Loans, the Revolving Note and/or the letters of credit issued hereunder and/or any of the other Obligations. Without limitation of the foregoing generality: (i) The Bank may at any time pledge all or any portion of its rights under the Loan Documents (including any portion of the Revolving Note) to any of the 12 Federal Reserve Banks organized under Section 4 of the Federal Reserve Act, 12 U.S.

Appears in 1 contract

Samples: Revolving Loan Agreement (Aseco Corp)

AutoNDA by SimpleDocs

Binding Effect; Assignment; Termination. This letter agreement shall --------------------------------------- be binding upon the Borrower, its Borrower and the Bank and their respective successors and assigns and shall inure to the benefit of the Borrower and the Bank and their respective permitted successors and assigns. The Borrower may not assign this letter agreement or any rights hereunder without the express written consent of the Bank. The Bank may, in accordance with applicable law, from time to time assign or grant participations in this letter agreement, the Revolving Loans, the Revolving Note and/or the letters of credit issued hereunder any Term Loans and/or any of the other ObligationsTerm Notes. Without limitation of the foregoing generality:, (i) The Bank may at any time pledge all or any portion of its rights under the Loan Documents (including any portion of the Revolving any Term Note) to any of the 12 Federal Reserve Banks organized under Section 4 of the Federal Reserve Act, 12 U.S.

Appears in 1 contract

Samples: Term Loan Agreement (Sycamore Networks Inc)

Binding Effect; Assignment; Termination. This letter agreement shall --------------------------------------- be binding upon the Borrower, its successors and assigns and shall inure to the benefit of the Borrower and the Bank and their respective permitted successors and assigns. The Borrower may not assign this letter agreement or any rights hereunder without the express written consent of the Bank. The Bank may, in accordance with applicable law, from time to time assign or grant participations participation in this letter agreement, the Revolving Loans, the Revolving Note and/or the letters of credit issued hereunder and/or any of the other Obligationshereunder. Without limitation of the foregoing generality: (i) The Bank may at any time pledge all or any portion of its rights under the Loan Documents (including any portion of the Revolving Note) to any of the 12 Federal Reserve Banks organized under Section 4 of the Federal Reserve Act, 12 U.S.

Appears in 1 contract

Samples: Revolving Loan Agreement (Palomar Medical Technologies Inc)

Binding Effect; Assignment; Termination. This letter agreement shall --------------------------------------- be binding upon the Borrower, its successors and assigns and shall inure to the benefit of the Borrower and the Bank and their respective permitted successors and assigns. The Borrower may not assign this letter agreement or any rights hereunder without the express written consent of the Bank. The Bank may, in accordance with applicable law, from time to time assign or grant participations in this letter agreement, the Revolving Demand Loans, the Revolving Demand Note and/or the letters of credit issued hereunder and/or any of the other Obligationshereunder. Without limitation of the foregoing generality: (i) The Bank may at any time pledge all or any portion of its rights under the Loan Documents (including any portion of the Revolving Demand Note) to any of the 12 Federal Reserve Banks organized under Section 4 of the Federal Reserve Act, 12 U.S.

Appears in 1 contract

Samples: Loan Agreement (Microtouch Systems Inc)

AutoNDA by SimpleDocs

Binding Effect; Assignment; Termination. This letter agreement shall --------------------------------------- be binding upon the Borrower, its Borrower and the Bank and their respective successors and assigns and shall inure to the benefit of the Borrower and the Bank and their respective permitted successors and assigns. The Borrower may not assign this letter agreement or any rights hereunder without the express written consent of the Bank. The Bank may, in accordance with applicable law, from time to time assign or grant participations in this letter agreement, the Revolving Loans, Term Loan or the Revolving Note and/or the letters of credit issued hereunder and/or any of the other ObligationsTerm Note. Without limitation of the foregoing generality:, (i) The Bank may at any time pledge all or any portion of its rights under the Loan Documents (including any portion of the Revolving Term Note) to any of the 12 Federal Reserve Banks organized under Section 4 of the Federal Reserve Act, 12 U.S.

Appears in 1 contract

Samples: Term Loan Agreement (Diacrin Inc /De/)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!