Common use of MODIFICATION AND BENEFIT OF AGREEMENT Clause in Contracts

MODIFICATION AND BENEFIT OF AGREEMENT. This Agreement and the Other Agreements may not be modified, altered or amended except by an agreement in writing signed by Borrower or such other Person who is a party to such Other Agreement and Lender. Borrower may not sell, assign or transfer this Agreement, or the Other Agreements or any portion thereof, including, without limitation, Borrower's rights, titles, interest, remedies, powers or duties hereunder and thereunder. Borrower hereby consents to Lender's sale, assignment, transfer, pledge or other disposition, at any time and from time to time hereafter, of this Agreement, or the Other Agreements, or of any portion thereof, or to Lender granting participations in the Obligations and related Loan Documents, including, without limitation, Lender's rights, titles, interest, remedies, powers and/or duties. Borrower agrees that it shall execute and deliver such documents as Lender may request in connection with the foregoing. Borrower further consents to the pledge or collateral assignment and grant of a security interest, by Lender, in connection with its' own financing, including all rights, benefits, warranties, representations, covenants, indemnities and remedies, and all proceeds of the foregoing, contained in this Agreement and any of the Other Agreements.

Appears in 2 contracts

Samples: Loan and Security Agreement (Crdentia Corp), Loan and Security Agreement (Crdentia Corp)

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MODIFICATION AND BENEFIT OF AGREEMENT. This Agreement and the Other Agreements may not be modified, altered or amended except by an agreement in writing signed by Borrower or such other Person who is a party to such Other Agreement and Lender. Borrower may not sell, assign or transfer this Agreement, or the Other Agreements or any portion thereof, including, without limitation, Borrower's ’s rights, titles, interest, remedies, powers or duties hereunder and thereunder. Borrower hereby consents to Lender's ’s sale, assignment, transfer, pledge or other disposition, at any time and from time to time hereafter, of this Agreement, or the Other Agreements, or of any portion thereof, or to Lender granting participations in the Obligations and related Loan Documents, including, without limitation, Lender's ’s rights, titles, interest, remedies, powers and/or duties. Borrower agrees that it shall execute and deliver such documents as Lender may request in connection with the foregoing. Borrower further consents to the pledge or collateral assignment and grant of a security interest, by Lender, in connection with its' own financing, including all rights, benefits, warranties, representations, covenants, indemnities and remedies, and all proceeds of the foregoing, contained in this Agreement and any of the Other Agreements.

Appears in 2 contracts

Samples: Loan and Security Agreement (Crdentia Corp), Loan and Security Agreement (Crdentia Corp)

MODIFICATION AND BENEFIT OF AGREEMENT. This Agreement and the Other Agreements may not be modified, altered or amended except by an agreement in writing signed by Borrower or such other Person who is a party to such Other Agreement and Lender. Borrower may not sell, assign or transfer this Agreement, or the Other Agreements or any portion thereof, including, without limitation, Borrower's rights, titles, interest, remedies, powers or duties hereunder and thereunder. Borrower hereby consents to Lender's sale, assignment, transfer, pledge transfer or other disposition, at any time and from time to time hereafter, of this Agreement, or the Other Agreements, or of any portion thereof, or to Lender granting participations in the Obligations and related Loan Documents, including, without limitation, Lender's rights, titles, interest, remedies, powers and/or duties. Borrower agrees that it shall execute and deliver such documents as Lender may request in connection with the foregoing. Borrower further consents to the pledge or collateral assignment and grant of a security interest, by Lender, in connection with its' own financing, including all rights, benefits, warranties, representations, covenants, indemnities and remedies, and all proceeds of the foregoing, contained in this Agreement and any of the Other Agreements.

Appears in 1 contract

Samples: Loan and Security Agreement (Crdentia Corp)

MODIFICATION AND BENEFIT OF AGREEMENT. This Agreement and the Other Agreements may not be modified, altered or amended except by an agreement in writing signed by Borrower or such other Person who is a party to such Other Agreement and Lender. Borrower may not sell, assign or transfer this Agreement, or the Other Agreements or any portion thereof, including, without limitation, Borrower's ’s rights, titles, interest, remedies, powers or duties hereunder and thereunder. Borrower hereby consents to Lender's ’s sale, assignment, transfer, pledge transfer or other disposition, at any time and from time to time hereafter, of this Agreement, or the Other AgreementsAgreements to an affiliate of Lender, or of any portion thereof, or to participations therein so long as Lender granting participations in the Obligations and related Loan Documentsremains a lender, including, without limitation, Lender's ’s rights, titles, interest, remedies, powers and/or duties. Borrower duties and agrees that it shall execute and deliver such documents as Lender may request in connection with the foregoing. Borrower further consents any such sale, assignment, transfer or other disposition, provided, that no such consent shall be required and Lender may sell, assign, transfer or otherwise dispose at any time and from time to the pledge or collateral assignment and grant of a security interesttime hereafter, by Lender, in connection with its' own financing, including all rights, benefits, warranties, representations, covenants, indemnities and remedies, and all proceeds of the foregoing, contained in this Agreement and any of or the Other Agreements, if an Event of Default is then continuing.

Appears in 1 contract

Samples: Loan and Security Agreement (Perry-Judds Inc)

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MODIFICATION AND BENEFIT OF AGREEMENT. This Agreement and the Other Agreements may not be modified, altered or amended except by an agreement in writing signed by Borrower or such other Person person who is a party to such Other Agreement and Lender. Borrower may not sell, assign or transfer this Agreement, or the Other Agreements or any portion thereof, including, without limitation, Borrower's rights, titles, interest, remedies, powers or duties hereunder and thereunder. Borrower hereby consents to Lender's sale, assignment, transfer, pledge transfer or other disposition, at any time and from time to time hereafter, of this Agreement, or the Other Agreements, or of any portion thereof, or to Lender granting participations in the Obligations and related Loan Documentstherein, including, without limitation, Lender's rights, titles, interest, remedies, powers and/or duties. Borrower duties and agrees that it shall execute and deliver such documents as Lender may request in connection with any such sale, assignment, transfer or other disposition, provided that, until such time as the foregoing. Borrower further consents to Loans exceed $40,000,000.00, Lender shall retain at least fifty-one percent (51%) of the pledge or collateral assignment and grant of a security interest, by LenderLoans unless Lender is purchased, in connection with its' own financingwhole or in part, including all rights, benefits, warranties, representations, covenants, indemnities and remedies, and all proceeds or the Loans are transferred to an affiliate of the foregoing, contained in this Agreement and any of the Other AgreementsLender.

Appears in 1 contract

Samples: Loan and Security Agreement (Singing Machine Co Inc)

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