Common use of Successors and Assigns; Participation Clause in Contracts

Successors and Assigns; Participation. All covenants and agreements contained in this Agreement shall bind and inure to the benefit of the respective successors and assigns of the parties hereto, except that Borrower may not assign any rights hereunder without the prior written consent of Lender. Lender may assign to one or more Persons all or any part of or may grant participation to one or more Persons, in all or any part of the Loans, and to the extent of any assignment or participation the assignee or participant of such assignment or participation shall have the rights and benefits hereunder as if it were a Lender hereunder, except that Borrower shall be entitled to deal exclusively with Lender and rely upon documents, consents and writings signed solely by Lender, without the necessity of any such participant joining in. Borrower authorizes Lender to disclose to any purchaser or participant, or any prospective purchaser or participant of an interest in the Loans, any financial or other information pertaining to Borrower.

Appears in 2 contracts

Samples: Credit Agreement (Infinity Property & Casualty Corp), Credit Agreement (Infinity Property & Casualty Corp)

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Successors and Assigns; Participation. All covenants and agreements contained in this Agreement shall bind and inure to the benefit of the respective successors and assigns of the parties hereto, except that Borrower may not assign any rights hereunder without the prior written consent of Lender. Lender may assign to one or more Persons all or any part of of, or may grant participation to one or more Persons, in all or any part of the LoansLoan, and to the extent of any assignment or participation the assignee or participant of such assignment or participation shall have the rights and benefits hereunder as if it were a Lender hereunder, except that Borrower shall be entitled to deal exclusively with Lender and rely upon documents, consents and writings signed solely by Lender, without the necessity of any such participant joining in. Borrower authorizes Lender to disclose to any purchaser or participant, or any prospective purchaser or participant of an interest in the LoansLoan, any financial or other information pertaining to Borrower.

Appears in 1 contract

Samples: Credit Agreement (Infinity Property & Casualty Corp)

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Successors and Assigns; Participation. All covenants and agreements contained in this Agreement shall bind and inure to the benefit of the respective successors and assigns of the parties hereto, except that Borrower may not assign any rights hereunder without the prior written consent of LenderBanks. Lender Banks (and each of them) may assign to one or more Persons all or any part of of, or may grant participation participations to one or more Persons, in all or any part of the LoansLine of Credit Loan, and to the extent of any assignment or participation the assignee or participant of such assignment or participation shall have the rights and benefits hereunder as if it were a Lender Bank hereunder, except that Borrower shall be entitled to deal exclusively with Lender Banks and rely upon documents, consents and writings signed solely by LenderBanks, without the necessity of any such participant joining in. Borrower authorizes Lender Banks (and each of them) to disclose to any purchaser or participant, or any prospective purchaser or participant of an interest in the Loans, any financial or other information pertaining to Borrower.

Appears in 1 contract

Samples: Credit Agreement (Nichols Research Corp /Al/)

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