Common use of Binding Effect and Assignment Clause in Contracts

Binding Effect and Assignment. This Agreement creates a continuing security interest in the Collateral and (a) shall be binding on Debtor and its successors and permitted assigns and (b) shall inure, together with all rights and remedies of Secured Party hereunder, to the benefit of Secured Party and Lenders and their respective successors, transferees and assigns. Without limiting the generality of the foregoing, Secured Party and any Lender may (except as otherwise provided in the Credit Agreement) pledge, assign or otherwise transfer any or all of their respective rights under any or all of the Obligation Documents to any other Person, and such other Person shall thereupon become vested with all of the benefits in respect thereof granted herein or otherwise. None of the rights or duties of Debtor hereunder may be assigned or otherwise transferred without the prior written consent of Secured Party.

Appears in 7 contracts

Sources: Security Agreement (Resaca Exploitation, Inc.), Security Agreement (Resaca Exploitation, Inc.), Security Agreement (Specialty Laboratories)

Binding Effect and Assignment. This Agreement creates a continuing security interest in the Collateral and (a) shall be binding on Debtor and its successors and permitted assigns and (b) shall inure, together with all rights and remedies of Secured Party hereunder, to the benefit of Secured Party and Lenders that inure to the benefit of such Lender, and their respective successors, transferees and assigns. Without limiting the generality of the foregoing, Secured Party and any each Lender may (except as otherwise provided in and subject to the Credit Agreement and the Intercreditor Agreement) pledge, assign or otherwise transfer any or all of their respective its rights under any or all of the Obligation Documents to any other Person, and such other Person shall thereupon become vested with all of the benefits in respect thereof granted thereof, herein or otherwiseotherwise in accordance with the Credit Agreement. None of the rights or duties of Debtor hereunder may be assigned or otherwise transferred without the prior written consent of Secured Party.

Appears in 3 contracts

Sources: Pledge Agreement (Western Gas Resources Inc), Stock Pledge Agreement (Western Gas Resources Inc), Foreign Subsidiary Stock Pledge Agreement (Western Gas Resources Inc)

Binding Effect and Assignment. This Agreement creates a continuing security interest in the Collateral and (a) shall be binding on Debtor Pledgor and its successors and permitted assigns and (b) shall inure, together with all rights and remedies of the Secured Party hereunder, to the benefit of the Secured Party and Lenders and their its respective successors, transferees and assigns. Without limiting the generality of the foregoing, the Secured Party and any Lender may (except as otherwise provided in the Credit Agreement) pledge, assign or otherwise transfer any or all of their respective its rights under any or all of the Obligation Documents to any other Person, and such other Person shall thereupon become vested with all of the benefits in respect thereof granted to the Secured Party, herein or otherwise. None of the rights or duties of Debtor Pledgor hereunder may be assigned or otherwise transferred without the prior written consent of the Secured Party.

Appears in 2 contracts

Sources: Asset Transfer Agreement (Sundance Strategies, Inc.), Asset Transfer Agreement (Sundance Strategies, Inc.)

Binding Effect and Assignment. This Agreement creates a continuing security interest in the Collateral and (a) shall be binding on Debtor and its successors and permitted assigns and (b) shall inure, together with all rights and remedies of each Secured Party hereunder, to the benefit of each Secured Party and Lenders and their respective successors, transferees and assigns. Without limiting the generality of the foregoing, any Secured Party and any Lender may (except as otherwise provided in the Credit Loan Agreement) pledge, assign or otherwise transfer any or all of their respective rights under any or all of the Obligation Documents to any other Person, and such other Person shall thereupon become vested with all of the benefits in respect thereof granted herein or otherwise. None of the rights or duties of Debtor hereunder may be assigned or otherwise transferred without the prior written consent of each Secured Party.

Appears in 2 contracts

Sources: Security Agreement (Hispanic Television Network Inc), Security Agreement (Hispanic Television Network Inc)

Binding Effect and Assignment. This Agreement creates a ----------------------------- continuing security interest in the Collateral and (a) shall be binding on Debtor and its successors and permitted assigns and (b) shall inure, together with all rights and remedies of Secured Party hereunder, to the benefit of Secured Party and Lenders and their respective successors, transferees and assigns. Without limiting the generality of the foregoing, Secured Party and any Lender may (except as otherwise provided in the Credit Agreement) pledge, assign or otherwise transfer any or all of their respective its rights under any or all of the Obligation Documents to any other Person, and such other Person shall thereupon become vested with all of the benefits in respect thereof granted to Secured Party, herein or otherwise. None of the rights or duties of Debtor hereunder may be assigned or otherwise transferred without the prior written consent of Secured Party.

Appears in 2 contracts

Sources: Pledge Agreement (St Mary Land & Exploration Co), Stock Pledge Agreement (St Mary Land & Exploration Co)

Binding Effect and Assignment. This Agreement creates a ----------------------------- continuing security interest in the Collateral and (a) shall be binding on Debtor and its successors and permitted assigns and (b) shall inure, together with all rights and remedies of Secured Party hereunder, to the benefit of Secured Party and Lenders and their respective its successors, transferees and assigns. Without limiting the generality of the foregoing, Secured Party and any Lender may (except as otherwise provided in the Credit Agreement) pledge, assign or otherwise transfer any or all of their respective its rights under any or all of the Obligation Loan Agreement or the Loan Documents or any other agreement or document evidencing Indebtedness to any other Person, and such other Person shall thereupon become vested with all of the benefits in respect thereof granted herein or otherwise. None of the rights or duties of Debtor hereunder may be assigned or otherwise transferred without the prior written consent of Secured Party.

Appears in 1 contract

Sources: Security Agreement (HCS Ii Inc)

Binding Effect and Assignment. This Agreement creates a ----------------------------- continuing security interest in the Collateral and (a) shall be binding on Debtor Debtors and its their respective successors and permitted assigns and (b) shall inure, together with all rights and remedies of Secured Party hereunder, to the benefit of Secured Party and Lenders and their respective successors, transferees and assigns. Without limiting the generality of the foregoing, Secured Party and any Lender may (except as otherwise provided in the Credit Agreement) pledge, assign or otherwise transfer any or all of their respective rights under any or all of the Obligation Documents to any other Person, and such other Person shall thereupon become vested with all of the benefits in respect thereof granted herein or otherwise. None of the rights or duties of Debtor Debtors hereunder may be assigned or otherwise transferred without the prior written consent of Secured Party.

Appears in 1 contract

Sources: Security Agreement (St Mary Land & Exploration Co)

Binding Effect and Assignment. This Agreement creates a continuing security interest in the Collateral and (a) shall be binding on Debtor and its successors and permitted assigns and (b) shall inure, together with all rights and remedies of Secured Party hereunder, to the benefit of Secured Party and Lenders and their respective its successors, transferees and assigns. Without limiting the generality of the foregoing, Secured Party and or any Lender may (except as otherwise provided in the Credit Agreement) pledge, assign or otherwise transfer any or all of their respective its rights under any or all of the Obligation Documents to any other Person, and such other Person shall thereupon become vested with all of the benefits in respect thereof granted to Secured Party, herein or otherwise. None of the rights or duties of Debtor hereunder may be assigned or otherwise transferred without the prior written consent of Secured Party.

Appears in 1 contract

Sources: Pledge Agreement (United States Exploration Inc)

Binding Effect and Assignment. This Agreement creates a continuing security interest in the Collateral and (a) shall be binding on Debtor the Debtors and its their respective successors and permitted assigns and (b) shall inure, together with all rights and remedies of the Secured Party hereunder, to the benefit of the Secured Party and Lenders and their respective its successors, transferees and assigns. Without limiting the generality of the foregoing, the Secured Party and any Lender may (except as otherwise provided in the Credit Agreement) pledge, assign or otherwise transfer any or all of their respective its rights under this Agreement or any or all of the Obligation Documents other Loan Document to any other Person, and such other Person shall thereupon become vested with all of the benefits in respect thereof granted herein or otherwise. None of the rights or duties of any Debtor hereunder may be assigned or otherwise transferred without the prior written consent of the Secured Party.

Appears in 1 contract

Sources: Security Agreement (Onstream Media CORP)

Binding Effect and Assignment. This Agreement creates a continuing security interest in the Collateral and (a) shall be binding on each Debtor and its successors and permitted assigns and (b) shall inure, together with all rights and remedies of Secured Party hereunder, to the benefit of Secured Party and Lenders and their respective successors, transferees and assigns, as permitted by the Purchase Agreement. Without limiting the generality of the foregoing, Secured Party and any Lender may (except as otherwise provided in the Credit Purchase Agreement) pledge, assign or otherwise transfer any or all of their respective rights under any or all of the Obligation Documents to any other Person, and such other Person shall thereupon become vested with all of the benefits in respect thereof granted to Secured Party, herein or otherwise. None of the rights or duties of any Debtor hereunder may be assigned or otherwise transferred without the prior written consent of Secured Party.

Appears in 1 contract

Sources: Security Agreement (Future Petroleum Corp/Ut/)

Binding Effect and Assignment. This Agreement creates a ----------------------------- continuing security interest in the Collateral and (a) shall be binding on Debtor and its successors and permitted assigns and (b) shall inure, together with all rights and remedies of Secured Party hereunder, to the benefit of Secured Party and Lenders and their respective its successors, transferees and assigns. Without limiting the generality of the foregoing, Secured Party and any Lender may (except as otherwise provided in the Credit Intercreditor Agreement and Loan Agreement) pledge, assign or otherwise transfer any or all of their respective its rights under any or all of the Obligation Loan Documents to any other Person, and such other Person shall thereupon become vested with all of the benefits in respect thereof granted to Secured Party, herein or otherwise. None of the rights or duties of Debtor hereunder may be assigned or otherwise transferred without the prior written consent of Secured Party.

Appears in 1 contract

Sources: Pledge Agreement (Aviva Petroleum Inc /Tx/)

Binding Effect and Assignment. This Agreement creates a continuing security interest in the Collateral and (a) shall be binding on Debtor and its successors and permitted assigns and (b) shall inure, together with all rights and remedies of Secured Party Parties hereunder, to the benefit of Secured Party and Lenders Parties and their respective successors, transferees and assigns. Without limiting the generality of the foregoing, any Secured Party and any Lender may (except as otherwise provided in the Credit Loan Agreement) pledge, assign or otherwise transfer any or all of their respective its rights under any or all of the Obligation Documents to any other Person, and such other Person shall thereupon become vested with all of the benefits in respect thereof granted to such Secured Party, herein or otherwise. None of the rights or duties of Debtor hereunder may be assigned or otherwise transferred without the prior written consent of Secured PartyParties.

Appears in 1 contract

Sources: Stock Pledge Agreement (Hispanic Television Network Inc)

Binding Effect and Assignment. This Agreement creates a continuing security interest in the Collateral and (a) shall be binding on Debtor and its successors and permitted assigns and (b) shall inure, together with all rights and remedies of Secured Party hereunder, to the benefit of Secured Party and Lenders and their respective its successors, transferees and assigns. Without limiting the generality of the foregoing, Secured Party and any Lender may (except as otherwise provided in the Credit Agreement) pledge, assign or otherwise transfer any or all of their respective its rights under any or all of the Obligation Documents to any other Person, and such other Person shall thereupon become vested with all of the benefits in respect thereof granted to Secured Party, herein or otherwise. None of the rights or duties of Debtor hereunder may be assigned or otherwise transferred without the prior written consent of Secured Party.

Appears in 1 contract

Sources: Stock Pledge Agreement (Leslie Resources Inc)

Binding Effect and Assignment. This Agreement creates a continuing security interest in the Collateral and (a) shall be binding on Debtor and its his successors and permitted assigns and (b) shall inure, together with all rights and remedies of Secured Party hereunder, to the benefit of Secured Party and Lenders and their respective its successors, transferees and assigns. Without limiting the generality of the foregoing, Secured Party and any Lender may (except as otherwise provided in the Credit Agreement) pledge, assign or otherwise transfer any or all of their respective its rights under any or all of the Obligation Documents to any other Person, and such other Person shall thereupon become vested with all of the benefits in respect thereof granted to Secured Party, herein or otherwise. None of the rights or duties of Debtor hereunder may be assigned or otherwise transferred without the prior written consent of Secured Party.

Appears in 1 contract

Sources: Stock Pledge Agreement (Leslie Resources Inc)

Binding Effect and Assignment. This Agreement creates a continuing security interest in the Collateral and (a) shall be binding on Debtor each Grantor and its successors and permitted assigns and (b) shall inure, together with all rights and remedies of Secured Party hereunder, to the benefit of Secured Party and Lenders and their respective its successors, transferees and assigns. Without limiting the generality of the foregoing, Secured Party and Party, the LC Issuer, the Swingline Lender or any Lender may (except as otherwise provided in the Credit Agreement) pledge, assign or otherwise transfer any or all of their respective its rights under any or all of hereunder as provided in the Obligation Documents to any other PersonCredit Agreement, and such other Person shall thereupon become vested with all of the benefits in respect thereof granted to Secured Party, herein or otherwise. None of the rights or duties of Debtor any Grantor hereunder may be assigned or otherwise transferred without the prior written consent of Secured Party.

Appears in 1 contract

Sources: Pledge and Security Agreement (Energy Transfer Equity, L.P.)

Binding Effect and Assignment. This Agreement creates a continuing security interest in the Collateral and (a) shall be binding on Debtor and its successors and permitted assigns and (b) shall inure, together with all rights and remedies of Secured Party hereunder, to the benefit of Secured Party and Lenders and their its respective successors, transferees and assigns. Without limiting the generality of the foregoing, Secured Party and any Lender may (except as otherwise provided in the Credit Agreement) pledge, assign or otherwise transfer any or all of their respective rights under any or all of the Obligation Documents to any other Person, and such other Person shall thereupon become vested with all of the benefits in respect thereof granted herein or otherwise. None of the rights or duties of Debtor hereunder may be assigned or otherwise transferred without the prior written consent of Secured Party.

Appears in 1 contract

Sources: Subsidiary Security Agreement (Leslie Resources Inc)

Binding Effect and Assignment. This Agreement creates a continuing security interest in the Collateral and (a) shall be binding on Debtor each Grantor and its successors and permitted assigns and (b) shall inure, together with all rights and remedies of Secured Party hereunder, to the benefit of Secured Party and Lenders and their respective its successors, transferees and assigns. Without limiting the generality of the foregoing, Secured Party and or any other Lender Party may (except as otherwise provided in the Credit Agreement) pledge, assign or otherwise transfer any or all of their respective its rights under any or all of the Obligation Loan Documents to any other Person, and such other Person shall thereupon become vested with all of the benefits in respect thereof granted to Secured Party, herein or otherwise. None of the rights or duties of Debtor any Grantor hereunder may be assigned or otherwise transferred without the prior written consent of Secured Party.

Appears in 1 contract

Sources: Credit Agreement (Targa Resources Partners LP)

Binding Effect and Assignment. This Agreement creates a continuing security interest in the Collateral and (a) shall be binding on the Debtor and its successors and permitted assigns and (b) shall inure, together with all rights and remedies of the Secured Party hereunder, to the benefit of the Secured Party and Lenders and their respective its successors, transferees and assigns. Without limiting the generality of the foregoing, the Secured Party and any Lender may (except as otherwise provided in the Credit Agreement) pledge, assign or otherwise transfer any or all of their respective its rights under this Agreement or any or all of the Obligation Documents other Loan Document to any other Person, and such other Person shall thereupon become vested with all of the benefits in respect thereof granted herein or otherwise. None of the rights or duties of the Debtor hereunder may be assigned or otherwise transferred without the prior written consent of the Secured Party.

Appears in 1 contract

Sources: Security Agreement (Onstream Media CORP)

Binding Effect and Assignment. This Agreement creates a continuing security interest in the Collateral and (a) shall be binding on Debtor and its successors and permitted assigns and (b) shall inure, together with all rights and remedies of Secured Party hereunder, to the benefit of Secured Party and Lenders and their respective successors, transferees and assigns. Without limiting the generality of the foregoing, Secured Party and any Lender may (except as otherwise provided in the Credit Agreement) pledge, assign or otherwise transfer any or all of their respective its rights under any or all of the Obligation Documents to any other Person, and such other Person shall thereupon become vested with all of the benefits in respect thereof granted to Secured Party, herein or otherwise. None of the rights or duties of Debtor hereunder may be assigned or otherwise transferred without the prior written consent of Secured Party.

Appears in 1 contract

Sources: Credit Agreement (Cimarex Energy Co)

Binding Effect and Assignment. This Agreement creates a continuing security interest in the Collateral and (a) shall be binding on Debtor and its successors and permitted assigns and (b) shall inure, together with all rights and remedies of Secured Party hereunder, to the benefit of Secured Party and Lenders and their respective successors, transferees and assigns, as permitted by the Purchase Agreement. Without limiting the generality of the foregoing, Secured Party and any Lender may (except as otherwise provided in the Credit Purchase Agreement) pledge, assign or otherwise transfer any or all of their respective rights under any or all of the Obligation Documents to any other Person, and such other Person shall thereupon become vested with all of the benefits in respect thereof granted to Secured Party, herein or otherwise. None of the rights or duties of Debtor hereunder may be assigned or otherwise transferred without the prior written consent of Secured Party.

Appears in 1 contract

Sources: Security Agreement (Future Petroleum Corp/Ut/)

Binding Effect and Assignment. This Agreement creates a continuing security interest in the Collateral and (a) shall be binding on Debtor each Grantor and its successors and permitted assigns and (b) shall inure, together with all rights and remedies of Secured Party hereunder, to the benefit of Secured Party and Lenders and their respective its successors, transferees and assigns. Without limiting the generality of the foregoing, Secured Party and Party, Swing Line Lender, L/C Issuer or any Lender may (except as otherwise provided in the Credit Agreement) pledge, assign or otherwise transfer any or all of their respective its rights under any or all of hereunder as provided in the Obligation Documents to any other PersonCredit Agreement, and such other Person shall thereupon become vested with all of the benefits in respect thereof granted to Secured Party, herein or otherwise. None of the rights or duties of Debtor any Grantor hereunder may be assigned or otherwise transferred without the prior written consent of Secured Party.

Appears in 1 contract

Sources: Credit Agreement (Copano Energy, L.L.C.)