Common use of Binding on Successors, Transferees and Assigns; Continuing Agreement Clause in Contracts

Binding on Successors, Transferees and Assigns; Continuing Agreement. This Subordination Agreement shall remain in full force and effect until the Termination Date has occurred, shall be binding upon each Obligor and each Subordinated Creditor and their respective successors, transferees and assigns and shall inure to the benefit of and be enforceable by the Lenders and their successors, transferees and assigns; provided that no Obligor or Subordinated Creditor may (unless otherwise permitted under the terms of the Credit Agreement or this Subordination Agreement) assign any of its obligations hereunder without the prior written consent of the Secured Party Representative. This Subordination Agreement is a continuing agreement of subordination and the Lenders may, from time to time and without notice to the Subordinated Creditors, extend credit to or make other financial arrangements with each Obligor in reliance hereon.

Binding on Successors, Transferees and Assigns; Continuing Agreement. This Subordination Agreement shall remain in full force and effect until the Termination Date has occurred, shall be binding upon each Obligor and each Subordinated Creditor and their respective successors, transferees and assigns and shall inure to the benefit of and be enforceable by the Lenders and their successors, transferees and assigns; provided that no Obligor or Subordinated Creditor may (unless otherwise permitted under the terms of the Credit Agreement or this Subordination Agreement) assign any of its obligations hereunder without the prior written consent of the Secured Party RepresentativeMajority Lenders. This Subordination Agreement is a continuing agreement of subordination and the Lenders may, from time to time and without notice to the Subordinated Creditors, extend credit to or make other financial arrangements with each Obligor in reliance hereon.