Dealing with Successors. Unless named in this Agreement or unless admitted to the Company as provided in this Agreement, no person shall be considered a Member; and the Company, each Member, and any other persons having business with the Company need deal only with the Member so named or so admitted, and they shall not be required to deal with any other person by reason of an unauthorized assignment by a Member or by reason of the death or dissolution of a Member, except as provided in Section 15B. In the absence of an authorized assignment or substitution (as provided in this Agreement) of a Member, any payment to a Member or to such Member's executors or administrators shall acquit the Company of all liabilities to any other persons who may be interested in such payment by reason of an unauthorized assignment by such Member or by reason of the Member's death or dissolution.
Dealing with Successors. 11 ----------------------- Section 5.08. Subrogation.........................................11 ----------- Section 5.09. Application of Security.............................12 ----------------------- Section 5.10. Assignment by Secured Party.........................12 --------------------------- Section 5.11. Performance by Secured Party........................12 ----------------------------
Dealing with Successors. Without limiting the prohibition ----------------------- set forth in Section 3.01(e) hereof, in the event the ownership of the Collateral or any part thereof becomes vested in a person other than Debtors, Secured Party may, without notice to Debtors, deal with such successor or successors in interest with reference to this Agreement and to the Secured Obligations in the same manner as with Debtors, without in any way affecting or discharging Debtors' liability hereunder or for the payment of the Secured Obligations. No sale of the Collateral, no forbearance on the part of Secured Party and no extension of the time for the payment of the Secured Obligations given by Secured Party shall operate to release, discharge, modify, change or affect, in whole or in part, the liability of Debtors, Borrower or any other person for the payment of the Secured Obligations, except as agreed in writing by Secured Party.
Dealing with Successors. In the event that Borrower conveys its interest in the Mortgaged Property or any portion thereof (without hereby implying any right of Borrower to do so without Xxxxxx's prior written consent), Lender may, without notice to Borrower, deal with such successor or successors in interest with reference to this Mortgage and the Notes secured hereby, either by way of forbearance on the part of Lender or extension of the time of payment of the debt or any sum hereby secured or otherwise, without in any way modifying or affecting the original liability of Borrower or any other party on the Notes secured hereby.
