Common use of Successors and Assigns; Severability; Several Obligations Clause in Contracts

Successors and Assigns; Severability; Several Obligations. This Agreement is intended to bind and inure to the benefit of the Parties and their respective successors, permitted assigns, heirs, executors, administrators and representatives; provided, however, that nothing contained in this Section 15 shall be deemed to permit Transfers of the Supporting Public Entity’s Claims. If any provision of this Agreement, or the application of any such provision to any person or entity or circumstance, shall be held invalid or unenforceable in whole or in part, such invalidity or unenforceability shall attach only to such provision or part thereof and the remaining part of such provision hereof and this Agreement shall continue in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any Party. Upon any such determination of invalidity, the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in a reasonably acceptable manner in order that the transactions contemplated hereby are consummated as originally contemplated to the greatest extent possible.

Appears in 4 contracts

Sources: Plan Support Agreement (PACIFIC GAS & ELECTRIC Co), Plan Support Agreement (PACIFIC GAS & ELECTRIC Co), Plan Support Agreement (PACIFIC GAS & ELECTRIC Co)

Successors and Assigns; Severability; Several Obligations. This Agreement is intended to bind and inure to the benefit of the Parties and their respective successors, permitted assigns, heirs, executors, administrators and representatives; provided, however, that nothing contained in this Section 15 shall be deemed to permit Transfers of the Supporting Public Entity’s ClaimsTerm Loans or claims arising under the Term Loans other than in accordance with the express terms of this Agreement. If any provision of this Agreement, or the application of any such provision to any person or entity Person or circumstance, shall be held invalid or unenforceable in whole or in part, such invalidity or unenforceability shall attach only to such provision or part thereof and the remaining part of such provision hereof and this Agreement shall continue in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any Party. Upon any such determination of invalidity, the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in a reasonably acceptable manner in order that the transactions contemplated hereby are consummated as originally contemplated to the greatest extent possible. The agreements, representations and obligations of the Parties are, in all respects, ratable and several and neither joint nor joint and several.

Appears in 4 contracts

Sources: Restructuring Support Agreement, Restructuring Support Agreement (DITECH HOLDING Corp), Restructuring Support Agreement (Walter Investment Management Corp)

Successors and Assigns; Severability; Several Obligations. This Agreement is intended to bind and inure to the benefit of the Parties and their respective successors, permitted assigns, heirs, and executors, administrators and representatives; provided, however, that nothing contained in this Section 15 shall be deemed to permit Transfers of the Supporting Public Entity’s Claims. If any provision of this Agreement, or the application of any such provision to any person or entity Person or circumstance, shall be held invalid or unenforceable in whole or in part, such invalidity or unenforceability shall attach only to such provision or part thereof and the remaining part of such provision hereof and this Agreement shall continue in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any Party. Upon any such determination of invalidity, the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in a reasonably acceptable manner in order that the transactions contemplated hereby are consummated as originally contemplated to the greatest extent possible. The agreements, representations and obligations of the Parties are, in all respects, ratable and several and neither joint nor joint and several.

Appears in 3 contracts

Sources: Transaction Support Agreement (Cazoo Group LTD), Transaction Support Agreement (ATI Physical Therapy, Inc.), Transaction Support Agreement (ATI Physical Therapy, Inc.)

Successors and Assigns; Severability; Several Obligations. This Agreement is intended to bind and inure to the benefit of the Parties and their respective successors, permitted assigns, heirs, executors, administrators and representatives; provided, however, that nothing contained in this Section 15 16 shall be deemed to permit Transfers sales, assignments or transfers other than in accordance with Section 3(d) of the Supporting Public Entity’s Claimsthis Agreement. If any provision of this Agreement, or the application of any such provision to any person or entity or circumstance, shall be held invalid or unenforceable in whole or in part, such invalidity or unenforceability shall attach only to such provision or part thereof and the remaining part of such provision hereof and this or the Agreement shall continue in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any Party. Upon any such determination of invalidity, the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in a reasonably an acceptable manner in order that the transactions contemplated hereby are consummated as originally contemplated to the greatest extent possible.

Appears in 2 contracts

Sources: Restructuring and Lock Up Agreement, Restructuring and Lock Up Agreement (Caraustar Industries Inc)

Successors and Assigns; Severability; Several Obligations. This Agreement is intended to bind and inure to the benefit of the Parties and their respective successors, permitted assigns, heirs, executors, administrators and representatives; provided, however, that nothing contained in this Section 15 shall be deemed to permit Transfers of the Supporting Public Entity’s Claims. If any provision of this Agreement, or the application of any such provision to any person or entity or circumstance, shall be held invalid or unenforceable in whole or in part, such invalidity or unenforceability shall attach only to such provision or part thereof and the remaining part of such provision hereof and this Agreement shall continue in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any Party. Upon any such determination of invalidity, the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in a reasonably acceptable manner in order that the transactions contemplated hereby are consummated as originally contemplated to the greatest extent possible. 16.

Appears in 1 contract

Sources: Plan Support Agreement (PACIFIC GAS & ELECTRIC Co)

Successors and Assigns; Severability; Several Obligations. This Agreement is intended to bind and inure to the benefit of the Parties and their respective successors, permitted assigns, heirs, executors, administrators and representatives; provided, however, that nothing contained in this Section 15 16 shall be deemed to permit Transfers of the Supporting Public Entity’s ClaimsCRB Claims other than in accordance with the express terms of this Agreement. If any provision of this Agreement, or the application of any such provision to any person or entity Person or circumstance, shall be held invalid or unenforceable in whole or in part, such invalidity or unenforceability shall attach only to such provision or part thereof and the remaining part of such provision hereof and this Agreement shall continue in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any Party. Upon any such determination of invalidity, the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in a reasonably acceptable manner in order that the transactions contemplated hereby are consummated as originally contemplated to the greatest extent possible. The agreements, representations, and obligations of the Parties are, in all respects, ratable and several and neither joint nor joint and several.

Appears in 1 contract

Sources: Restructuring Support Agreement (Sunlight Financial Holdings Inc.)

Successors and Assigns; Severability; Several Obligations. This Agreement is intended to bind and inure to the benefit of the Parties and their respective successors, permitted assigns, heirs, executors, administrators and representatives; provided, however, that nothing contained in this Section 15 16 shall be deemed to permit Transfers sales, assignments or transfers of the Supporting Public Entity’s ClaimsSenior Notes or claims arising under the Senior Notes other than in accordance with Section 3(d) of this Agreement. If any provision of this Agreement, or the application of any such provision to any person or entity or circumstance, shall be held invalid or unenforceable in whole or in part, such invalidity or unenforceability shall attach only to such provision or part thereof and the remaining part of such provision hereof and this or the Agreement shall continue in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any Party. Upon any such determination of invalidity, the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in a reasonably an acceptable manner in order that the transactions contemplated hereby are consummated as originally contemplated to the greatest extent possible.

Appears in 1 contract

Sources: Plan Support Agreement (Greenville Tube CO)

Successors and Assigns; Severability; Several Obligations. This Agreement is intended to bind and inure to the benefit of the Parties and their respective successors, successors and permitted assigns. The rights or obligations of any Party under this Agreement may not be assigned, heirsdelegated, executors, administrators and representatives; provided, however, that nothing contained in this Section 15 shall be deemed or transferred to permit Transfers of the Supporting Public Entity’s Claimsany other Person except as expressly permitted herein. If any provision of this Agreement, or the application of any such provision to any person or entity or circumstance, shall will be held invalid or unenforceable in whole or in part, such invalidity or unenforceability shall will attach only to such provision or part thereof and the remaining part of such provision hereof and this Agreement shall will continue in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any Party. Upon any such determination of invalidity, the Parties shall will negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in a reasonably an acceptable manner in order that the transactions contemplated hereby are consummated as originally contemplated to the greatest extent possible. The agreements, representations and obligations of the Parties are, in all respects, ratable and several and neither joint nor joint and several.

Appears in 1 contract

Sources: Restructuring Support Agreement (2U, Inc.)

Successors and Assigns; Severability; Several Obligations. This Agreement is intended to bind and inure to the benefit of the Parties and their respective successors, permitted assigns, heirs, executors, administrators and representatives; provided, however, that nothing . Nothing contained in this Section 15 18 shall be deemed to permit Transfers sales, assignments or transfers of Stockwell. claims against or interests in the Supporting Public Entity’s ClaimsCompany other than as otherwise provided in this Agreement. If any provision of this Agreement, or the application of any such provision to any person or entity or circumstance, shall be held invalid or unenforceable in whole or in part, such invalidity or unenforceability shall attach only to such provision or part thereof and the remaining part of such provision hereof and this Agreement shall continue in full force and effect so long as the economic or legal substance of the transactions Restructuring Transaction contemplated hereby is are not affected in any manner materially adverse to any Party. Upon any such determination of invalidity, the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in a reasonably an acceptable manner in order that the transactions Restructuring Transaction contemplated hereby are consummated as originally contemplated to the greatest extent possible.

Appears in 1 contract

Sources: Restructuring Support Agreement (Bright Green Corp)

Successors and Assigns; Severability; Several Obligations. This Agreement is intended to bind and inure to the benefit of the Parties and their respective successors, permitted assigns, heirs, executors, administrators and representatives; providedprovided that, howeverduring the Support Period, that nothing contained in this Section 15 16 shall be deemed to permit Transfers of Consenting Claims other than in accordance with the Supporting Public Entity’s Claimsexpress terms of this Agreement. If any provision of this Agreement, or the application of any such provision to any person or entity or circumstance, shall be held invalid or unenforceable in whole or in part, such invalidity or unenforceability shall attach only to such provision or part thereof and the remaining part of such provision hereof and this Agreement shall continue in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any Party. Upon any such determination of invalidity, the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in a reasonably acceptable manner in order that the transactions contemplated hereby are consummated as originally contemplated to the greatest extent possible.

Appears in 1 contract

Sources: Restructuring Support Agreement (Cano Health, Inc.)

Successors and Assigns; Severability; Several Obligations. This Agreement is intended to bind and inure to the benefit of the Parties and their respective successors, permitted assigns, heirs, executors, administrators and representatives; provided, however, that nothing contained in this Section 15 16 shall be deemed to permit Transfers sales, assignments or transfers of the Supporting Public Entity’s ClaimsPrepetition Lender Claim or other claims against or interests in the Debtor. If any provision of this Agreement, or the application of any such provision to any person or entity or circumstance, shall be held invalid or unenforceable in whole or in part, such invalidity or unenforceability shall attach only to such provision or part thereof and the remaining part of such provision hereof and this Agreement shall continue in full force and effect so long as the economic or legal substance of the transactions Restructuring Transaction contemplated hereby is are not affected in any manner materially adverse to any Party. Upon any such determination of invalidity, the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in a reasonably an acceptable manner in order that the transactions Restructuring Transaction contemplated hereby are consummated as originally contemplated to the greatest extent possible.

Appears in 1 contract

Sources: Restructuring Support Agreement (Marin Software Inc)

Successors and Assigns; Severability; Several Obligations. This Agreement is intended to bind and inure to the benefit of the Parties and their respective successors, permitted assigns, heirs, executors, administrators and representatives; provided, however, that nothing contained in this Section 15 19 shall be deemed to permit Transfers sales, assignments or transfers of Honu’s claims against or interests in the Supporting Public Entity’s ClaimsCompany. If any provision of this Agreement, or the application of any such provision to any person or entity or circumstance, shall be held invalid or unenforceable in whole or in part, such invalidity or unenforceability shall attach only to such provision or part thereof and the remaining part of such provision hereof and this Agreement shall continue in full force and effect so long as the economic or legal substance of the transactions Restructuring Transaction contemplated hereby is are not affected in any manner materially adverse to any Party. Upon any such determination of invalidity, the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in a reasonably an acceptable manner in order that the transactions Restructuring Transaction contemplated hereby are consummated as originally contemplated to the greatest extent possible.. 

Appears in 1 contract

Sources: Restructuring Support Agreement (Broadvision Inc)

Successors and Assigns; Severability; Several Obligations. This Agreement is intended to bind and inure to the benefit of the Parties and their respective successors, permitted assigns, heirs, executors, administrators and representatives; provided, however, that nothing contained in this Section 15 shall be deemed to permit Transfers of the Supporting Public Entity’s Claims. If any provision of this AgreementAgreement (excluding Exhibits and Schedules), or the application of any such provision to any person or entity or circumstance, shall be held invalid or unenforceable in whole or in part, such invalidity or unenforceability shall attach only to such provision or part thereof and the remaining part of such provision hereof and this Agreement shall continue in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any Party. Upon any such determination of invalidity, the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in a reasonably acceptable manner in order that the transactions contemplated hereby are consummated as originally contemplated to the greatest extent possible.

Appears in 1 contract

Sources: Restructuring Support Agreement

Successors and Assigns; Severability; Several Obligations. This Agreement is intended to bind shall be binding upon, and inure to the benefit of, the Parties. Except as provided in Section ‎10 hereof, no rights or obligations of any Party under this Agreement may be assigned or Transferred to any other person or Entity without the express written consent of all of the Parties and their respective successors, permitted assigns, heirs, executors, administrators and representatives; provided, however, that nothing contained in this Section 15 shall be deemed to permit Transfers of the Supporting Public Entity’s Claimsother Parties. If any provision of this Agreement, or the application of any such provision to any person or entity Entity or circumstance, shall be held invalid or unenforceable in whole or in part, such invalidity or unenforceability shall attach only to such provision or part thereof and the remaining part of such provision hereof and this Agreement shall continue in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any Party. Upon any such determination of invalidity, the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in a reasonably acceptable manner in order that the transactions contemplated hereby are consummated as originally contemplated to the greatest extent possible. The agreements, representations and obligations of the Parties under this Agreement are, in all respects, several and not joint.

Appears in 1 contract

Sources: Restructuring Support Agreement (Hospitality Investors Trust, Inc.)

Successors and Assigns; Severability; Several Obligations. This Agreement is intended to bind and inure to the benefit of the Parties and their respective successors, permitted assigns, heirs, executors, administrators and representatives; provided, however, that nothing contained in this Section 15 shall be deemed to permit Transfers sales, assignments or transfers of the Supporting Public Entity’s ClaimsNotes or claims arising under the Notes other than in accordance with Section 3(c) of this Agreement. If any provision of this Agreement, or the application of any such provision to any person or entity or circumstance, shall be held invalid or unenforceable in whole or in part, such invalidity or unenforceability shall attach only to such provision or part thereof and the remaining part of such provision hereof and this or the Agreement shall continue in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any Party. Upon any such determination of invalidity, the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in a reasonably an acceptable manner in order that the transactions contemplated hereby are consummated as originally contemplated to the greatest extent possible.

Appears in 1 contract

Sources: Restructuring & Lock Up Agreement (Tontine Capital Partners L P)