Common use of Successors and Assigns; Participation Clause in Contracts

Successors and Assigns; Participation. This Agreement shall be binding upon and shall inure to the benefit of Borrower and Bank and their respective successors and assigns. The foregoing shall not authorize any assignment or transfer by Borrower of any of its respective rights, duties or obligations hereunder, such assignments or transfers being expressly prohibited. Bank, however, may freely assign, whether by assignment, participation or otherwise, its rights and obligations hereunder, and is hereby authorized to disclose to any such assignee or participant (or proposed assignee or participant) any financial or other information in its knowledge or possession regarding any Loan Party or the Indebtedness.

Appears in 5 contracts

Samples: Credit Agreement (Universal Power Group Inc.), Credit Agreement (Abatix Corp), Credit Agreement (Docucorp International Inc)

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Successors and Assigns; Participation. This Agreement shall be binding upon and shall inure to the benefit of Borrower Borrowers and Bank and their respective successors and assigns. The foregoing shall not authorize any assignment or transfer by any Borrower of any of its respective rights, duties or obligations hereunder, such assignments or transfers being expressly prohibited. Bank, however, may freely assign, whether by assignment, participation or otherwise, its rights and obligations hereunder, and is hereby authorized to disclose to any such assignee or participant (or proposed assignee or participant) any financial or other information in its knowledge or possession regarding any Loan Party or the Indebtedness.

Appears in 4 contracts

Samples: Loan Agreement (Stratus Properties Inc), Loan Agreement (Stratus Properties Inc), Loan Agreement (Stratus Properties Inc)

Successors and Assigns; Participation. This Agreement shall be binding upon and shall inure to the benefit of Borrower and Bank and their respective successors and assigns. The foregoing shall not authorize any assignment or transfer by Borrower Borrower, of any of its respective rights, duties or obligations hereunder, such assignments or transfers being expressly prohibited. Bank, however, may freely assign, whether by assignment, participation or otherwise, its rights and obligations hereunder, and is hereby authorized to disclose to any such assignee or participant (or proposed assignee or participant) any financial or other information in its knowledge or possession regarding any Loan Party or the Indebtedness; provided, however, that prior to any such disclosure, each such assignee or participant shall agree in writing to preserve the confidentiality of any confidential information relating to any Loan Party.

Appears in 4 contracts

Samples: Credit Agreement (Tandy Brands Accessories Inc), Credit Agreement (Tandy Brands Accessories Inc), Credit Agreement (Tandy Brands Accessories Inc)

Successors and Assigns; Participation. This Agreement shall be binding upon and shall inure to the benefit of Borrower and Bank and their respective successors and assigns. The foregoing shall not authorize any assignment or transfer by Borrower Borrower, of any of its respective rights, duties or obligations hereunder, such assignments or transfers being expressly prohibited. Bank, however, may freely assign, whether by assignment, participation or otherwise, its rights and obligations hereunder, and is hereby authorized to disclose to any such assignee or participant (or proposed assignee or participant) any financial or other information in its knowledge or possession regarding any Loan Party Borrower, its Subsidiaries and Affiliates, or the Indebtedness.

Appears in 2 contracts

Samples: Revolving Credit and Security Agreement (Avanex Corp), Revolving Credit and Security Agreement (Avanex Corp)

Successors and Assigns; Participation. This Agreement agreement shall be ---- ------------------------------------- binding upon and shall inure to the benefit of Borrower and Bank bank and their respective successors and assigns. The foregoing shall not authorize any assignment or transfer by Borrower Borrower, of any of its respective rights, duties or obligations hereunder, such assignments or transfers being expressly prohibited. Bank, however, may freely assign, whether by assignment, participation or otherwise, its rights and obligations obligation hereunder, and is hereby authorized to disclose to any such assignee or participant (or proposed assignee or participant) any financial or other information in its knowledge or possession regarding any Loan Party Borrower, its Subsidiaries and Affiliates, or the Indebtedness.

Appears in 2 contracts

Samples: Revolving Credit and Security Agreement, Revolving Credit and Security Agreement (Ikos Systems Inc)

Successors and Assigns; Participation. This Agreement shall be binding upon and shall inure to the benefit of Borrower and Bank and their respective successors and assigns. The foregoing shall not authorize any assignment or transfer by Borrower Borrowers of any of its respective rights, duties or obligations hereunder, such assignments or transfers being expressly prohibited. Bank, however, may freely assign, whether by assignment, participation or otherwise, its rights and obligations hereunder, and is hereby authorized to disclose to any such assignee or participant (or proposed assignee or participant) any financial or other information in its knowledge or possession regarding any Loan Party or the Indebtedness.

Appears in 2 contracts

Samples: Credit Agreement (Microwave Transmission Systems Inc), Credit Agreement (Microwave Transmission Systems Inc)

Successors and Assigns; Participation. This Agreement shall be binding upon and shall inure to the benefit of Borrower and Bank and their respective successors and assigns. The foregoing shall not authorize any assignment or transfer by Borrower Borrower, of any of its respective rights, duties or obligations hereunder, such assignments or transfers being expressly prohibited. Bank, however, may freely assign, whether by assignment, participation or otherwise, its rights and obligations hereunder, and is hereby authorized to disclose to any such assignee or participant (or proposed assignee or participant) any financial or other information in its knowledge or possession regarding any Loan Party or the Indebtedness.

Appears in 2 contracts

Samples: Credit Agreement (Digitalconvergence Com Inc), Credit Agreement (Englobal Corp)

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Successors and Assigns; Participation. This Agreement shall be binding upon and shall inure to the benefit of Borrower Borrowers and Bank and their respective successors and assigns. The foregoing shall not authorize any assignment or transfer by any Borrower of any of its respective rights, duties or obligations hereunder, such assignments or transfers being expressly prohibited. Bank, however, may freely assign, whether by assignment, participation or otherwise, its rights and obligations hereunder, and is hereby authorized to disclose to any such assignee or participant (or 27 proposed assignee or participant) any financial or other information in its knowledge or possession regarding any Loan Party or the Indebtedness.

Appears in 1 contract

Samples: Loan Agreement (Stratus Properties Inc)

Successors and Assigns; Participation. This Agreement shall be binding upon and shall inure to the benefit of Borrower and Bank and their respective successors and assigns. The foregoing shall not authorize any assignment or transfer by Borrower Borrower, of any of its respective rights, duties or obligations hereunder, such assignments or transfers being expressly prohibited. Bank, however, may freely assign, whether by assignment, participation or otherwise, its rights and obligations hereunder, and is hereby authorized to disclose to any such assignee or participant (or proposed assignee or participant) any financial or other information in its knowledge or possession regarding any Loan Borrower Party or the Indebtedness. Notwithstanding the foregoing, Bank will not assign to any third party more than forty-nine percent (49%) of its interests in any of the Loans, Notes or obligations to Bank under the Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Sport Supply Group Inc)

Successors and Assigns; Participation. This Agreement shall be binding upon and shall inure to the benefit of Borrower and Bank Lender and their respective successors and assigns. The foregoing shall not authorize any assignment or transfer by Borrower Borrower, of any of its respective rights, duties or obligations hereunder, such assignments or transfers being expressly prohibited. BankLender, however, may freely assign, whether by assignmentsyndication, participation or otherwisesimilar transaction only, its rights and obligations hereunder, and is hereby authorized to disclose to any such assignee or participant (or proposed assignee or participant) any financial or other information in its knowledge or possession regarding any Loan Party or the Indebtedness.

Appears in 1 contract

Samples: Loan Agreement (Stratus Properties Inc)

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