Common use of Successors and Assigns; Subsequent Holders of Notes Clause in Contracts

Successors and Assigns; Subsequent Holders of Notes. This Agreement and the other Loan Documents shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and permitted assigns. The terms and provisions of this Agreement shall inure to the benefit of any assignee or transferee of the Revolving Credit Exposure and Commitment of any Lender (to the extent such assignment or transfer is effected in accordance with Section 11.02), and in the event of such transfer or assignment, the rights and privileges herein conferred upon Lenders shall automatically extend to and be vested in such transferee or assignee, all subject to the terms and conditions hereof. Borrower's rights or any interest therein hereunder, and Borrower's duties and Obligations hereunder, may not be assigned without the written consent of all of the Lenders. All of Borrower's obligations and duties under this Agreement and under each of the other Loan Documents shall be binding upon each of Borrower's successors and assigns, including, without limitation, any receiver, trustee or debtor-in-possession of or for Borrower.

Appears in 2 contracts

Samples: Credit Agreement (American Classic Voyages Co), Credit Agreement (American Classic Voyages Co)

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Successors and Assigns; Subsequent Holders of Notes. This Agreement and the other Loan Documents shall be binding upon the parties hereto and their respective successors and assigns and shall inure to the benefit of the parties hereto and their respective the successors and permitted assignsassigns of the Lenders. The terms and provisions of this Agreement shall inure to the benefit of any assignee or transferee of the Revolving Credit Exposure Loans and Commitment the Commitments of any Lender (to the extent such assignment or transfer is effected in accordance with Section 11.0213.02), and in the event of such transfer or assignment, the rights and privileges herein conferred upon Lenders such Lender shall automatically extend to and be vested in such transferee or assignee, all subject to the terms and conditions hereof. No Borrower's rights or any interest therein hereunder, and no Borrower's duties and or Obligations hereunder, may not be assigned without the written consent of all of the Lenders. All of each Borrower's obligations and duties under this Agreement and under each of the other Loan Documents shall be binding upon each of such Borrower's successors and assigns, including, without limitation, any receiver, trustee or debtor-in-possession of or for such Borrower.

Appears in 1 contract

Samples: Credit Agreement (Anixter International Inc)

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Successors and Assigns; Subsequent Holders of Notes. This Agreement and the other Loan Documents shall be binding upon the parties hereto and their respective successors and assigns and shall inure to the benefit of the parties hereto and their respective the permitted successors and permitted assignsassigns of the Lenders. The terms and provisions of this Agreement, each Guarantee, the Pledge and Security Agreement and the other Loan Documents shall inure to the benefit of any assignee or transferee of the Revolving Credit Exposure and Commitment of any Lender (Loans pursuant to the extent such assignment or transfer is effected in accordance with Section 11.0210.2(a), and in the event of such transfer or assignment, the rights and privileges herein conferred upon the Lenders shall automatically extend to and be vested in such transferee or assignee, all subject to the terms and conditions hereof. In determining whether the holders of a sufficient aggregate principal amount of the Loans shall have consented to any action under this Agreement, any amount of the Loans owned or held by the Borrower's , any Guarantor or any of their respective Affiliates shall be disregarded. The Borrower’s rights or any interest therein hereunder, hereunder and the Borrower's duties and Obligations hereunder, ’s or any Guarantor’s obligations under the Loan Documents (including the Obligations) may not be assigned without the prior express written consent of all each of the Lenders. All of Borrower's obligations and duties under this Agreement and under each of the other Loan Documents shall be binding upon each of Borrower's successors and assigns, including, without limitation, any receiver, trustee or debtor-in-possession of or for Borrower.

Appears in 1 contract

Samples: Loan Agreement (Elgar Holdings Inc)

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