Common use of Agreement Binding; Assignment Clause in Contracts

Agreement Binding; Assignment. This Agreement and the rights, duties and obligations of the parties hereunder (including all rights with respect to the Revolving Loans) and thereunder shall bind and inure to the benefit of the parties hereto and their respective successors and assigns and shall not be transferable or assignable without the prior written consent of each of the Lenders; provided, that each Lender may transfer or assign all or part of its rights or obligations hereunder to any wholly-owned Subsidiary of such Lender without the prior written consent of the other Lenders; provided, further that no such transfer or assignment shall be effective until such Lender delivers to the other parties hereto a written undertaking in form and substance reasonably satisfactory to the other parties pursuant to which such Lender guarantees the performance of the obligations hereunder by such Subsidiary.