Common use of Modification of Loan Documents; Sale of Interest Clause in Contracts

Modification of Loan Documents; Sale of Interest. This Agreement may not be modified, altered or amended, except by an agreement in writing signed by the Borrowers and the Lenders. The rights of the Lenders granted in or referred to in this Agreement shall apply to any modification of or supplement to the Loan Documents. The Borrowers may not without the Lenders’ prior written permission sell, assign or transfer any of the Loan Documents, or any portion thereof, including, without limitation, the Borrowers’ rights, title, interests, remedies, powers and duties thereunder. Any sale, assignment, or transfer by the Borrowers without the Lenders’ permission shall be void ab initio. Each Borrower hereby consents to the Lenders’ participation, at any time or times hereafter, of any of the Loan Documents, or of any portion thereof, including, without limitation, the Lenders’ rights, title, interests, remedies, powers and duties thereunder. The Loan Documents shall be binding upon and inure to the benefit of the permitted successors and assigns of the Borrowers and the Lenders.

Appears in 3 contracts

Samples: Loan and Security Agreement (DT Credit Company, LLC), Loan and Security Agreement (DT Acceptance Corp), Loan and Security Agreement (DriveTime Automotive, Inc.)

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Modification of Loan Documents; Sale of Interest. This Agreement may not be modified, altered or amended, except by an agreement in writing signed by the Borrowers Borrower and the LendersLender. The rights of the Lenders Lender granted in or referred to in this Agreement shall apply to any modification of or supplement to the Loan Documents. The Borrowers Borrower may not without the Lenders’ Lender's prior written permission sell, assign or transfer any of the Loan Documents, or any portion thereof, including, without limitation, the Borrowers’ Borrower's rights, title, interests, remedies, powers and duties thereunder. Any sale, assignment, or transfer by the Borrowers Borrower without the Lenders’ Lender's permission shall be void ab initio. Each Borrower hereby consents to the Lenders’ Lender's participation, sale, assignment, transfer or other disposition, at any time or times hereafter, of any of the Loan Documents, or of any portion thereof, including, without limitation, the Lenders’ Lender's rights, title, interests, remedies, powers and duties thereunder. The Loan Documents shall be binding upon and inure to the benefit of the permitted successors and assigns of the Borrowers Borrower and the LendersLender.

Appears in 2 contracts

Samples: Loan and Security Agreement (Ugly Duckling Corp), Motor Vehicle Installment Contract (Ugly Duckling Corp)

Modification of Loan Documents; Sale of Interest. This Agreement or any exhibit attached hereto may not be modified, altered or amended, except by an agreement in writing signed by the Borrowers Borrower and the LendersLender. The rights of the Lenders Lender granted in or referred to in this Agreement shall apply to any modification of or supplement to the Loan Documents. The Borrowers Borrower may not without the Lenders’ Lender's prior written permission sell, assign or transfer any of the Loan Documents, or any portion thereof, including, without limitation, the Borrowers’ Borrower's rights, title, interests, remedies, powers and duties thereunder. Any sale, assignment, or transfer by the Borrowers Borrower without the Lenders’ Lender's permission shall be void ab initio. Each Borrower hereby consents to the Lenders’ Lender's participation, sale, assignment, transfer or other disposition, at any time or times hereafter, of any of the Loan Documents, or of any portion thereof, including, without limitation, the Lenders’ Lender's rights, title, interests, remedies, powers and duties thereunder. The Loan Documents shall be binding upon and inure to the benefit of the permitted successors and assigns of the Borrowers Borrower and the LendersLender.

Appears in 1 contract

Samples: Registration Rights Agreement (General Acceptance Corp /In/)

Modification of Loan Documents; Sale of Interest. This Agreement may not be modified, altered or amended, except by an agreement in writing and signed by the Borrowers Borrower and the LendersLender. The rights of the Lenders Lender granted in or referred to in this Agreement shall apply to any modification of or supplement to the Loan Documents. The Borrowers Borrower may not without the Lenders’ Lender's prior written permission permission, sell, assign or transfer any of the Loan Documents, or any portion thereof, including, without limitation, the Borrowers’ Borrower's rights, title, interests, remedies, powers and duties thereunder. Any sale, assignment, or transfer by the Borrowers Borrower without the Lenders’ Lender's permission shall be void ab initio. Each Borrower hereby consents to the Lenders’ Lender's participation, sale, assignment, transfer or other disposition, at any time or times hereafter, of any of the Loan Documents, or of any portion thereof, including, without limitation, the Lenders’ Lender's rights, title, interests, remedies, powers and duties thereunder. The Loan Documents shall be binding upon and inure to the benefit of the permitted successors and assigns of the Borrowers Borrower and the LendersLender.

Appears in 1 contract

Samples: Motor Vehicle Installment Contract Loan and Security Agreement (Consumer Portfolio Services Inc)

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Modification of Loan Documents; Sale of Interest. This Agreement or any Exhibit attached hereto may not be modified, altered or amended, except by an agreement in writing signed by the Borrowers Borrower and the LendersLender. The rights of the Lenders Lender granted in or referred to in this Agreement shall apply to any modification of or supplement to the Loan Documents. The Borrowers Borrower may not without the Lenders’ Lender's prior written permission sell, assign or transfer any of the Loan Documents, or any portion thereof, including, without limitation, the Borrowers’ Borrower's rights, title, interests, remedies, powers and duties thereunder. Any sale, assignment, or transfer by the Borrowers Borrower without the Lenders’ Lender's permission shall be void ab initio. Each Borrower hereby consents to the Lenders’ Lender's participation, sale, assignment, transfer or other disposition, at any time or times hereafter, of any of the Loan Documents, or of any portion thereof, including, without limitation, the Lenders’ Lender's rights, title, interests, remedies, powers and duties thereunder. The Loan Documents shall be binding upon and inure to the benefit of the permitted successors and assigns of the Borrowers Borrower and the LendersLender.

Appears in 1 contract

Samples: Motor Vehicle Installment Contract Loan and Security Agreement (TFC Enterprises Inc)

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