Common use of Binding Effect; Several Agreement Clause in Contracts

Binding Effect; Several Agreement. This Agreement is binding upon each Grantor and the Purchaser and their respective successors and permitted assigns, and shall inure to the benefit of the Grantors, the Purchaser and their respective successors and permitted assigns, except that no Grantor shall have any right to assign or transfer its rights or obligations hereunder or any interest herein, except as specifically permitted by the Purchase Agreement, without the prior written consent of the Purchaser (and any such assignment or transfer shall be void).

Binding Effect; Several Agreement. This Agreement is binding upon each Grantor and the Purchaser Secured Creditors and their respective successors and permitted assigns, and shall inure to the benefit of the Grantors, the Purchaser Secured Creditors and their respective successors and permitted assigns, except that no Grantor shall have any right to assign or transfer its rights or obligations hereunder or any interest herein, except as specifically permitted by the Purchase Credit Agreement, without the prior written consent of the Purchaser Agent (and any such assignment or transfer shall be void).