Common use of Binding Agreement; Assignments Clause in Contracts

Binding Agreement; Assignments. Whenever in this Agreement any of the parties hereto is referred to, such reference shall be deemed to include the successors and assigns of such party, and all covenants, promises and agreements by or on behalf of the parties that are contained in this Agreement shall bind and inure to the benefit of their respective successors and assigns. Neither the Borrower nor any Subsidiary Guarantor may assign or transfer any of its rights or obligations hereunder (and any such attempted assignment or transfer shall be void) without the prior written consent of the Second Priority Instructing Group. Notwithstanding the foregoing, at the time any Subsidiary Guarantor is released from its obligations under the Second Priority Subsidiary Guarantee Agreement in accordance with such Second Priority Subsidiary Guarantee Agreement and the Second Priority Debt Documents, such Subsidiary Guarantor automatically will cease to have any rights or obligations under this Agreement.

Appears in 1 contract

Samples: Subrogation and Contribution Agreement (Rite Aid Corp)

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Binding Agreement; Assignments. Whenever in this Agreement any of the parties hereto is referred to, such reference shall be deemed to include the successors and assigns of such party, and all covenants, promises and agreements by or on behalf of the parties that are contained in this Agreement shall bind and inure to the benefit of their respective successors and assigns. Neither the Borrower nor any Subsidiary Guarantor may assign or transfer any of its rights or obligations hereunder (and any such attempted assignment or transfer shall be void) without the prior written consent of the Second Priority Instructing GroupRequired Lenders. Notwithstanding the foregoing, at the time any Subsidiary Guarantor is released from its obligations under the Second Priority Senior Subsidiary Guarantee Agreement in accordance with such Second Priority Senior Subsidiary Guarantee Agreement and the Second Priority Debt DocumentsSenior Credit Agreement, such Subsidiary Guarantor will automatically will cease to have any rights or obligations under this Agreement.

Appears in 1 contract

Samples: Subrogation and Contribution Agreement (Rite Aid Corp)

Binding Agreement; Assignments. Whenever in this Agreement any of the parties hereto is referred to, such reference shall be deemed to include the successors and assigns of such party, ; and all covenants, promises and agreements by or on behalf of the parties that are contained in this Agreement shall bind and inure to the benefit of their respective successors and assigns. Neither the Borrower nor any Subsidiary Guarantor may assign or transfer any of its rights or obligations hereunder (and any such attempted assignment or transfer shall be void) without the prior written consent of the Second Priority Instructing GroupRequired Lenders. Notwithstanding the foregoing, at the time any Subsidiary Guarantor is released from its obligations under the Second Priority Subsidiary Guarantee Agreement in accordance with such Second Priority Subsidiary Guarantee Agreement and the Second Priority Debt DocumentsCredit Agreement, such Subsidiary Guarantor automatically will cease to have any rights or obligations under this Agreement.

Appears in 1 contract

Samples: Subrogation and Contribution Agreement (Century Maintenance Supply Inc)

Binding Agreement; Assignments. Whenever When- ever in this Agreement any of the parties hereto is referred to, such reference shall be deemed to include the successors and assigns of such party, ; and all covenants, promises and agreements by or on behalf of the parties that are contained in this Agreement shall bind and inure to the benefit of their respective successors and assigns. Neither Except as contemplated herein or in the Credit Agreement, neither the Borrower nor any Subsidiary Guarantor may assign or transfer any of its rights or obligations hereunder (and any such attempted assignment or transfer shall be void) without the prior written consent of the Second Priority Instructing Groupeach Lender. Notwithstanding the foregoing, at the time any Subsidiary Guarantor is released from its obligations under the Second Priority Subsidiary Guarantee Agreement in accordance with such Second Priority Subsidiary the Guarantee Agreement and the Second Priority Debt DocumentsCredit Agreement, such Subsidiary Guarantor automatically will cease to have any rights or obligations under this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Gartner Inc)

Binding Agreement; Assignments. Whenever in this Agreement any of the parties hereto is referred to, such reference shall be deemed to include the successors and assigns of such party, ; and all covenants, promises and agreements by or on behalf of the parties that are contained in this Agreement shall bind and inure to the benefit of their respective successors and assigns. Neither the Borrower nor any Subsidiary Guarantor may assign or transfer any of its rights or obligations hereunder (and any such attempted assignment or transfer shall be void) without the prior written consent of the Second Priority Instructing GroupMajority Senior Parties. Notwithstanding the foregoing, at the time any Subsidiary Guarantor is released from its obligations under the Second Priority Senior Subsidiary Guarantee Agreement in accordance with such Second Priority Senior Subsidiary Guarantee Agreement and the Second Priority Debt DocumentsSenior Credit Facility, such Subsidiary Guarantor automatically will cease to have any rights or obligations under this Agreement.

Appears in 1 contract

Samples: Subrogation and Contribution Agreement (Rite Aid Corp)

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Binding Agreement; Assignments. Whenever in this Agreement any of the parties hereto is referred to, such reference shall be deemed to include the successors and assigns of such party, ; and all covenants, promises and agreements by or on behalf of the parties that are contained in this Agreement shall bind and inure to the benefit of their respective successors and assigns. Neither the Borrower Parent nor any Subsidiary Guarantor may assign or transfer any of its rights or obligations hereunder (and any such attempted assignment or transfer shall be void) without the prior written consent of the Second Priority Instructing GroupRequired Lenders. Notwithstanding the foregoing, at the time any Subsidiary Guarantor is released from its obligations under the Second Priority Subsidiary Guarantee Agreement in accordance with such Second Priority the Subsidiary Guarantee Agreement and the Second Priority Debt DocumentsCredit Agreement, such Subsidiary Guarantor automatically will cease to have any rights or obligations under this Agreement.

Appears in 1 contract

Samples: Contribution Agreement (Playboy Enterprises Inc)

Binding Agreement; Assignments. Whenever in this Agreement any of the parties hereto is referred to, such reference shall be deemed to include the successors and assigns of such party, ; and all covenants, promises and agreements by or on behalf of the parties that are contained in this Agreement shall bind and inure to the benefit of their respective successors and assigns. Neither the Borrower nor any Subsidiary Guarantor may assign or transfer any of its rights or obligations hereunder (and any such attempted assignment or transfer shall be void) without the prior written consent of the Second Priority Instructing Group. Notwithstanding the foregoing, at the time any Subsidiary Guarantor is released from its obligations under the Second Priority Subsidiary Guarantee Agreement in accordance with such Second Priority Subsidiary Guarantee Agreement and the Second Priority Debt Documents, such Subsidiary Guarantor automatically will cease to have any rights or obligations under this Agreement.

Appears in 1 contract

Samples: Second Priority (Rite Aid Corp)

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