Common use of Binding Documents Clause in Contracts

Binding Documents. The Security Documents shall be binding upon, and shall inure to the benefit of, the Lenders and their relevant successors and assigns and their respective successors (in each case whether by merger, amalgamation, consolidation, take over or otherwise, and each such case a “Succession”), and each party hereby agrees that from the completion of the Succession the Agreement and the Security Documents shall be read and construed as if all references to the Lenders were references to the relevant successor. For the avoidance of doubt, the relevant successor shall not be a transferee or assignee for the purpose of the Security Documents but shall be (or shall be treated as) the same legal entity as the Lenders (or the relevant preceding successor, as the case may be).