Common use of Joinder and Assumption of Obligations Clause in Contracts

Joinder and Assumption of Obligations. Effective as of the date of this Joinder Agreement, the Consenting Party hereby acknowledges that the Consenting Party has received and reviewed a copy of the Support Agreement, and hereby: (a) acknowledges and agrees to: (i) join in the execution of, and become a party to, the Support Agreement as a Supporting Party thereunder, as indicated by its signature below; (ii) subject to Sections 1(a)(iii) and 1(b), be bound by all agreements of the Supporting Parties under the Support Agreement with the same force and effect as if such Consenting Party was a signatory to the Support Agreement as a Supporting Party and was expressly named as a Party therein; and (iii) assume all rights and interests and perform all applicable duties and obligations of the Supporting Parties under the Support Agreement; and (b) confirms, as to itself only on a several and not joint basis, each representation and warranty of the Supporting Parties under the Support Agreement, as of the date of this Joinder Agreement, with the same force and effect as if such Consenting Party was a signatory to the Support Agreement and was expressly named as a party therein.

Appears in 4 contracts

Samples: Support Agreement (Mudrick Capital Management, L.P.), Support Agreement (Oaktree Capital Group Holdings GP, LLC), Support Agreement (Stonehill Capital Management LLC)

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Joinder and Assumption of Obligations. Effective as of the date of this Joinder Agreement, the Consenting Party hereby acknowledges that the Consenting Party has received and reviewed a copy of the Support Agreement, and hereby: (a) acknowledges and agrees to: (i) join in the execution of, and become a party to, the Support Agreement as a Supporting Party Consenting Noteholder thereunder, as indicated by with its signature below; (ii) subject to Sections 1(a)(iiisubsection (iii) and 1(b)below, be bound by all agreements of the Supporting Parties Consenting Noteholders under the Support Agreement with the same force and effect as if such Consenting Party was a signatory to the Support Agreement as a Supporting Party and was expressly named as a Party party therein; and (iii) assume all rights and interests and perform all applicable duties and obligations of the Supporting Parties Consenting Noteholders under the Support AgreementAgreement other than those expressed therein to be solely the rights, interests, duties and obligations of the Initial Consenting Noteholders; and (b) confirms, as to itself only on a several and not joint basis, confirms each representation and warranty of the Supporting Parties Consenting Noteholders under the Support Agreement, as of the date of this Joinder Agreement, Agreement with the same force and effect as if such Consenting Party was a signatory to the Support Agreement and was expressly named as a party therein.

Appears in 2 contracts

Samples: Restructuring Support Agreement, Joinder Agreement

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