Common use of Sale/Transfer Clause in Contracts

Sale/Transfer. No Subordinated Holder shall sell, assign, dispose of or otherwise transfer all or any portion of the Subordinated Obligations unless, prior to the consummation of any such action, the transferee thereof executes and delivers to Senior Lender an agreement substantially identical to this Agreement, providing for the continued subordination and forbearance of the Subordinated Obligations to the Senior Indebtedness as provided herein and for the continued effectiveness of all of the rights of Senior Lender arising under this Agreement. Notwithstanding the failure to execute or deliver any such agreement, the subordination effected hereby shall survive any sale, assignment, disposition or other transfer of all or any portion of the Subordinated Obligations, and the terms of this Agreement shall be binding upon the successors and assigns of each Subordinated Holder, as provided in Section 10 below.

Sale/Transfer. No Subordinated Holder Parent shall not sell, assign, dispose of or otherwise transfer all or any portion of the Subordinated Obligations Indebtedness unless, prior to the consummation of any such action, the transferee thereof executes and delivers to Senior Lender an agreement substantially identical to this Agreement, providing for the continued subordination and forbearance of the Subordinated Obligations Indebtedness to the Senior Indebtedness as provided herein and for the continued effectiveness of all of the rights of Senior Lender arising under this Agreement. Notwithstanding the failure to execute or deliver any such agreement, the subordination effected hereby shall survive any sale, assignment, disposition or other transfer of all or any portion of the Subordinated ObligationsIndebtedness, and the terms of this Agreement shall be binding upon the successors and assigns of each Subordinated HolderParent, as provided in Section 10 below.

Sale/Transfer. No Subordinated Holder Lender shall not sell, assign, dispose of or otherwise transfer all or any portion of the Subordinated Obligations Indebtedness unless, prior to the consummation of any such action, the transferee thereof executes and delivers to Senior Lender an agreement substantially identical to this Agreement, providing for the continued subordination and forbearance of the Subordinated Obligations Indebtedness to the Senior Indebtedness as provided herein and for the continued effectiveness of all of the rights of Senior Lender arising under this Agreement. Notwithstanding the failure to execute or deliver any such agreement, the subordination effected hereby shall survive any sale, assignment, disposition or other transfer of all or any portion of the Subordinated ObligationsIndebtedness, and the terms of this Agreement shall be binding upon the successors and assigns of each Subordinated HolderLender, as provided in Section 10 below.

Sale/Transfer. No Subordinated Holder Lender shall not sell, assign, dispose of or otherwise transfer all or any portion of the Subordinated Obligations Indebtedness unless, prior to the consummation of any such action, the transferee thereof executes and delivers to Senior Lender an agreement substantially identical to this Agreement, providing for the continued subordination and forbearance of the Subordinated Obligations Indebtedness to the Senior Indebtedness as provided herein and for the continued effectiveness of all of the rights of Senior Lender and Lenders arising under this Agreement. Notwithstanding the failure to execute or deliver any such agreement, the subordination effected hereby shall survive any sale, assignment, disposition or other transfer of all or any portion of the Subordinated ObligationsIndebtedness, and the terms of this Agreement shall be binding upon the successors and assigns of each Subordinated HolderLender, as provided in Section 10 below.