Common use of Binding Effect; Assignability Clause in Contracts

Binding Effect; Assignability. This Agreement shall be binding upon and inure to the benefit of the Seller, the Issuer and their respective successors and permitted assigns. Any assignee shall be an express third party beneficiary of this Agreement, entitled directly to enforce this Agreement. The Seller may not assign any of its rights and obligations hereunder or any interest herein without the prior written consent of the Issuer and any of its assignees. The Issuer may, and intends to, assign all of its rights hereunder to the Indenture Trustee for the benefit of the Noteholders and the Seller consents to any such assignment. This Agreement shall create and constitute the continuing obligations of the parties hereto in accordance with its terms, and shall remain in full force and effect until its termination; provided, however, that the rights and remedies with respect to any breach of any representation and warranty made by the Seller pursuant to Section 5 hereof and the repurchase or substitution and indemnification obligations shall be continuing and shall survive any termination of this Agreement but such rights and remedies may be enforced only by the Issuer and the Indenture Trustee.

Appears in 9 contracts

Samples: Sale Agreement, Sale Agreement (Diamond Resorts International, Inc.), Sale Agreement (MARRIOTT VACATIONS WORLDWIDE Corp)

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Binding Effect; Assignability. This Agreement shall be binding upon and inure to the benefit of the SellerDepositor, the Issuer and their respective successors and permitted assigns. Any assignee of the Issuer shall be an express third party beneficiary of this Agreement, entitled to directly to enforce this Agreement. The Seller Depositor may not assign any of its rights and obligations hereunder or any interest herein without the prior written consent of the Issuer and any of its assigneesassignee thereof. The Issuer may, and intends to, assign all of its rights hereunder to the Indenture Trustee for the benefit on behalf of the Noteholders and the Seller Depositor consents to any such assignment. This Agreement shall create and constitute the continuing obligations of the parties hereto in accordance with its terms, and shall remain in full force and effect until its termination; provided, however, that the rights and remedies with respect to any breach of any representation and warranty made by the Seller Depositor pursuant to Section 5 hereof and the repurchase or substitution and indemnification obligations shall be continuing and shall survive any termination of this Agreement but such rights and remedies may be enforced only by the Issuer and the Indenture Trustee.

Appears in 5 contracts

Samples: Sale Agreement (Bluegreen Corp), Sale Agreement (Bluegreen Corp), Sale Agreement (Bluegreen Corp)

Binding Effect; Assignability. This Agreement shall be binding upon and inure to the benefit of the SellerOriginator, the Issuer and their respective successors and permitted assigns. Any assignee shall be an express third party beneficiary of this Agreement, entitled to directly to enforce this Agreement. The Seller Originator may not assign any of its rights and obligations hereunder or any interest herein without the prior written consent of the Issuer and any of its assigneesassignee thereof. The Issuer may, and intends to, assign all of its rights hereunder to the Securitization Indenture Trustee for the benefit on behalf of the Noteholders Securitization Noteholders, and the Seller Originator consents to any such assignmentassignments. This Agreement shall create and constitute the continuing obligations of the parties hereto in accordance with its terms, and shall remain in full force and effect until its termination; provided, however, that the rights and remedies with respect to any breach of any representation and warranty made by the Seller Originator pursuant to Section 5 hereof 5, and the cure, repurchase or substitution and indemnification obligations shall be continuing and shall survive any termination of this Agreement Agreement, but such rights and remedies may be enforced only by the Issuer and the Securitization Indenture Trustee.

Appears in 4 contracts

Samples: Transfer Agreement (Silverleaf Resorts Inc), Transfer Agreement (Silverleaf Resorts Inc), Transfer Agreement (Silverleaf Resorts Inc)

Binding Effect; Assignability. This Agreement shall be binding upon and inure to the benefit of the SellerDepositor, the Issuer and their respective successors and permitted assigns. Any assignee shall be an express third party beneficiary of this Agreement, entitled directly to enforce this Agreement. The Seller Depositor may not assign any of its rights and obligations hereunder or any interest herein without the prior written consent of the Issuer and any each of its assignees. The Issuer may, and intends to, assign all of its rights hereunder to the Indenture Trustee for the benefit of the Noteholders and the Seller Depositor consents to any such assignment. This Agreement shall create and constitute the continuing obligations of the parties hereto in accordance with its terms, and shall remain in full force and effect until its termination; provided, however, that the rights and remedies with respect to any breach of any representation and warranty made by the Seller Depositor pursuant to Section 5 hereof and the repurchase or substitution and indemnification obligations shall be continuing and shall survive any termination of this Agreement but such rights and remedies may be enforced only by the Issuer and or the Indenture Trustee, as applicable.

Appears in 3 contracts

Samples: Fourth Amended and Restated Sale Agreement (Diamond Resorts Corp), Third Amended and Restated Sale Agreement (Diamond Resorts Corp), Second Amended and Restated Sale Agreement (Diamond Resorts Parent, LLC)

Binding Effect; Assignability. This Agreement shall be binding upon and inure to the benefit of the SellerOriginator, the Issuer and their respective successors and permitted assigns. Any assignee shall be an express third party beneficiary of this Agreement, entitled to directly to enforce this Agreement. The Seller Originator may not assign any of its rights and obligations hereunder or any interest herein without the prior written consent of the Issuer and any of its assigneesassignee thereof. The Issuer may, and intends to, assign all of its rights hereunder to the Securitization Indenture Trustee for the benefit on behalf of the Noteholders Securitization Noteholders, and the Seller Originator consents to any such assignmentassignments. This Agreement shall create and constitute the continuing obligations of the parties hereto in accordance with its terms, and shall remain in full force and effect until its termination; provided, however, that the rights and remedies with respect to any breach of any representation and warranty made by the Seller Originator pursuant to Section 5 hereof 5, and the cure, repurchase or substitution and indemnification obligations shall be continuing and shall survive any termination of this Agreement Agreement, but such rights and remedies may be enforced only by the Issuer and the Securitization Indenture Trustee.

Appears in 3 contracts

Samples: Transfer Agreement (Silverleaf Resorts Inc), Transfer Agreement (Silverleaf Resorts Inc), Transfer Agreement (Silverleaf Resorts Inc)

Binding Effect; Assignability. This Agreement shall be binding upon and inure to the benefit of the Seller, the Issuer and their respective successors and permitted assigns. Any assignee shall be an express third party beneficiary of this Agreement, entitled directly to enforce this Agreement. The Seller may not assign any of its rights and obligations hereunder or any interest herein without the prior written consent of the Issuer and any of its assignees. The Issuer may, and intends to, assign all of its rights hereunder to the Indenture Trustee for the benefit of the Noteholders and the Seller consents to any such assignment. This Agreement shall create and constitute the continuing obligations of the parties hereto in accordance with its terms, and shall remain in full force and effect until its termination; provided, however, that the rights and remedies with respect to any breach of any representation and warranty made by the Seller pursuant to Section 5 hereof and the repurchase or substitution and indemnification obligations shall be continuing and shall survive any termination of this Agreement but such rights and remedies may be enforced only by the Issuer and the Indenture Trustee. SECTION 13.

Appears in 1 contract

Samples: Sale Agreement

Binding Effect; Assignability. This Agreement shall be binding upon and inure to the benefit of the Seller, the Issuer Buyer and each Originator and their respective successors and permitted assigns. Any assignee shall be an express third party beneficiary of this Agreement, entitled directly to enforce this Agreement. The Seller No Originator may not assign any of its rights and obligations hereunder or any interest herein without the prior written consent of the Issuer Buyer, the Borrower and the Administrative Agent; any of its assignees. The Issuer may, and intends to, assign all of its rights hereunder to such assignment made without the Indenture Trustee for the benefit prior written consent of the Noteholders and the Seller consents to any such assignmentAdministrative Agent shall be void ab initio. This Agreement shall create and constitute the continuing obligations of the parties hereto in accordance with its terms, and shall remain in full force and effect until its termination; provided, however, that such time as the parties hereto shall agree. The rights and remedies with respect to any breach of any representation and warranty made by the Seller any Originator pursuant to Section 5 hereof Article V and the repurchase or substitution indemnification and indemnification obligations payment provisions of Article IX and Section 10.6 shall be continuing and shall survive any termination of this Agreement. Nothing herein shall restrict Buyer from assigning its rights, title and interests under this Agreement but such rights to the Borrower pursuant to the Sale and remedies may be enforced only by the Issuer and the Indenture TrusteeContribution Agreement.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Alliance Resource Partners Lp)

Binding Effect; Assignability. This (a)This Agreement shall be binding upon and inure to the benefit of the each Seller, the Issuer Purchaser and their respective successors and permitted assigns. Any assignee shall be an express third party beneficiary of this Agreement; provided, entitled directly to enforce this Agreement. The however, that a Seller may not assign any of its rights and or obligations hereunder or any interest herein without the prior written consent of the Issuer Purchaser and any the Indenture Trustee (acting at the written direction of its assigneesthe Requisite Majority). The Issuer may, and intends to, Purchaser may assign as collateral security all of its rights hereunder to the Indenture Trustee for the benefit Trustee, and such assignee shall have all rights of the Noteholders and Purchaser under this Agreement (as if such assignee were the Seller consents to any such assignmentPurchaser hereunder). This (b)This Agreement shall create and constitute the continuing obligations obligation of the parties hereto in accordance with its terms, and shall remain in full force and effect until its terminationsuch time when all Outstanding Obligations are paid in full; provided, however, that the rights and remedies with respect to any breach of any representation and warranty made by the or on behalf of a Seller pursuant to Section 5 Article IV hereof and the repurchase or substitution and indemnification obligations shall be continuing and shall survive any termination of this Agreement but such rights and remedies may be enforced only by the Issuer and the Indenture Trustee.Agreement. 20 Section 6.8

Appears in 1 contract

Samples: Purchase and Contribution Agreement

Binding Effect; Assignability. This Agreement shall be binding upon and inure to the benefit of the Seller, the Issuer Loan Seller and their its respective successors and permitted assigns. Any assignee of the Loan Seller shall be an express third party beneficiary of this Agreement, entitled to directly to enforce this Agreement. The Seller BXG may not assign any of its rights and obligations hereunder or any interest herein without the prior written consent of the Issuer Loan Seller and any of its assigneesassignee thereof. The Issuer Loan Seller may, and intends to, assign all of its rights hereunder to the Indenture Trustee for the benefit of the Noteholders Quorum and the Seller BXG consents to any such assignment. This Agreement shall create and constitute the continuing obligations of the parties hereto in accordance with its terms, and shall remain in full force and effect from the Closing Date until its terminationthe Agreement Termination Date; provided, however, that the rights and remedies with respect to any breach of any representation and warranty made by BXG (as of the Seller date on which such representation or warranty was made) pursuant to Section 5 hereof and the repurchase or substitution and indemnification obligations shall be continuing and shall survive any termination of this Agreement but such rights and remedies may be enforced only by the Issuer Loan Seller and the Indenture TrusteeQuorum.

Appears in 1 contract

Samples: Purchase and Contribution Agreement (Bluegreen Corp)

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Binding Effect; Assignability. This Agreement shall be binding upon and inure to the benefit of the SellerDepositor, the Issuer and their respective successors and permitted assigns. Any assignee of the Issuer shall be an express third party beneficiary of this Agreement, entitled to directly to enforce this Agreement. The Seller Depositor may not assign any of its rights and obligations hereunder or any interest herein without the prior written consent of the Issuer and any of its assigneesassignee thereof. The Issuer may, and intends to, assign all of its rights hereunder to the Indenture Trustee for the benefit on behalf of the Noteholders and the Seller Depositor consents to any such assignment. This Agreement shall create and constitute the continuing obligations of the parties hereto in accordance with its terms, and shall remain in full force and effect until its termination; provided, however, that the rights and remedies with respect to any breach of any representation and warranty made by the Seller Depositor pursuant to Section 5 hereof and the repurchase or substitution and indemnification obligations shall be continuing and shall survive any termination of this 21 KL2 3337071.5 Agreement but such rights and remedies may be enforced only by the Issuer and the Indenture Trustee.

Appears in 1 contract

Samples: Sale Agreement (Bluegreen Vacations Holding Corp)

Binding Effect; Assignability. This Agreement shall be binding upon and inure to the benefit of the Seller, the Issuer Depositor and their its respective successors and permitted assigns. Any assignee of the Depositor shall be an express third party beneficiary of this Agreement, entitled to directly to enforce this Agreement. The Seller may not assign any of its rights and obligations 17 KL2 3337070.5 hereunder or any interest herein without the prior written consent of the Issuer Depositor and any of its assigneesassignee thereof. The Issuer Depositor may, and intends to, assign all of its rights hereunder to the Indenture Trustee for the benefit of the Noteholders Issuer and the Seller consents to any such assignment. This Agreement shall create and constitute the continuing obligations of the parties hereto in accordance with its terms, and shall remain in full force and effect until its termination; provided, however, that the rights and remedies with respect to any breach of any representation and warranty made by the Seller pursuant to Section 5 hereof and the repurchase or substitution and indemnification obligations shall be continuing and shall survive any termination of this Agreement but such rights and remedies may be enforced only by the Depositor, the Issuer and the Indenture Trustee.

Appears in 1 contract

Samples: Purchase and Contribution Agreement (Bluegreen Vacations Holding Corp)

Binding Effect; Assignability. This Agreement shall be binding upon and inure to the benefit of the Seller, the Issuer and their respective successors and permitted assigns. Any assignee shall be an express third party beneficiary of this Agreement, entitled directly to enforce this Agreement. The Seller may not assign any of its rights and obligations hereunder or any interest herein without the prior written consent of the Issuer and any of its assignees. The Issuer may, and intends to, assign all of its rights hereunder to the Indenture Trustee for the benefit of the Noteholders and the Seller consents to any such assignment. This Agreement shall create and constitute the continuing obligations of the parties hereto in accordance with its terms, and shall remain in full force and effect until its termination; provided, however, that the rights and remedies with respect to any breach of any representation and warranty made by the Seller pursuant to Section 5 hereof and the repurchase or substitution and indemnification obligations shall be continuing and shall survive any termination of this Agreement but such rights and remedies may be enforced only by the Issuer and the Indenture Trustee.

Appears in 1 contract

Samples: Sale Agreement (Diamond Resorts International, Inc.)

Binding Effect; Assignability. This Agreement shall be binding upon and inure to the benefit of the SellerDepositor, the Issuer and their respective successors and permitted assigns. Any assignee shall be an express third party beneficiary of this Agreement, entitled directly to enforce this Agreement. The Seller Depositor may not assign any of its rights and obligations hereunder KL2 2879244.6 or any interest herein without the prior written consent of the Issuer and any each of its assignees. The Issuer may, and intends to, assign all of its rights hereunder to the Indenture Trustee for the benefit of the Noteholders and the Seller Depositor consents to any such assignment. This Agreement shall create and constitute the continuing obligations of the parties hereto in accordance with its terms, and shall remain in full force and effect until its termination; provided, however, that the rights and remedies with respect to any breach of any representation and warranty made by the Seller Depositor pursuant to Section 5 hereof and the repurchase or substitution and indemnification obligations shall be continuing and shall survive any termination of this Agreement but such rights and remedies may be enforced only by the Issuer and or the Indenture Trustee, as applicable.

Appears in 1 contract

Samples: Fifth Amended and Restated Sale Agreement (Diamond Resorts International, Inc.)

Binding Effect; Assignability. This Agreement shall be binding upon and inure to the benefit of the SellerDepositor, the Issuer and their respective successors and permitted assigns. Any assignee of the Issuer shall be an express third party beneficiary of this Agreement, entitled to directly to enforce this Agreement. The Seller Depositor may not assign any of its rights and 21 obligations hereunder or any interest herein without the prior written consent of the Issuer and any of its assigneesassignee thereof. The Issuer may, and intends to, assign all of its rights hereunder to the Indenture Trustee for the benefit on behalf of the Noteholders and the Seller Depositor consents to any such assignment. This Agreement shall create and constitute the continuing obligations of the parties hereto in accordance with its terms, and shall remain in full force and effect until its termination; provided, however, that the rights and remedies with respect to any breach of any representation and warranty made by the Seller Depositor pursuant to Section 5 hereof and the repurchase or substitution and indemnification obligations shall be continuing and shall survive any termination of this Agreement but such rights and remedies may be enforced only by the Issuer and the Indenture Trustee.

Appears in 1 contract

Samples: Sale Agreement (Bluegreen Vacations Holding Corp)

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