Common use of Binding Effect; Assignment; Termination Clause in Contracts

Binding Effect; Assignment; Termination. This letter agreement shall --------------------------------------- be binding upon the Borrower and the Bank and their respective successors and assigns and shall inure to the benefit of the Borrower and the Bank and their respective permitted successors and assigns. The Borrower may not assign this letter agreement or any rights hereunder without the express written consent of the Bank. The Bank may, in accordance with applicable law, from time to time assign or grant participations in this letter agreement, any Term Loans and/or any Term Notes. Without limitation of the foregoing generality, (i) The Bank may at any time pledge all or any portion of its rights under the Loan Documents (including any portion of any Term Note) to any of the 12 Federal Reserve Banks organized under Section 4 of the Federal Reserve Act, 12 U.S.

Appears in 1 contract

Sources: Term Loan Agreement (Sycamore Networks Inc)

Binding Effect; Assignment; Termination. This letter agreement shall --------------------------------------- be binding upon the Borrower and the Bank and their respective Borrower, its successors and assigns and shall inure to the benefit of the Borrower and the Bank and their respective permitted successors and assigns. The Borrower may not assign this letter agreement or any rights hereunder without the express written consent of the Bank. The Bank may, in accordance with applicable law, from time to time assign or grant participations in this letter agreement, any Term Loans the Revolving Loans, the Revolving Note and/or the letters of credit issued hereunder and/or any Term Notesof the other Obligations. Without limitation of the foregoing generality,: (i) The Bank may at any time pledge all or any portion of its rights under the Loan Documents (including any portion of any Term the Revolving Note) to any of the 12 Federal Reserve Banks organized under Section 4 of the Federal Reserve Act, 12 U.S.

Appears in 1 contract

Sources: Revolving Loan Agreement (Aseco Corp)

Binding Effect; Assignment; Termination. This letter agreement shall --------------------------------------- be binding upon the Borrower and the Bank and their respective Borrower, its successors and assigns and shall inure to the benefit of the Borrower and the Bank and their respective permitted successors and assigns. The Borrower may not assign this letter agreement or any rights hereunder without the express written consent of the Bank. The Bank may, in accordance with applicable law, from time to time assign or grant participations in this letter agreement, any Term Loans the Demand Loans, the Demand Note and/or any Term Notesthe letters of credit issued hereunder. Without limitation of the foregoing generality,: (i) The Bank may at any time pledge all or any portion of its rights under the Loan Documents (including any portion of any Term the Demand Note) to any of the 12 Federal Reserve Banks organized under Section 4 of the Federal Reserve Act, 12 U.S.

Appears in 1 contract

Sources: Loan Agreement (Microtouch Systems Inc)

Binding Effect; Assignment; Termination. This letter agreement shall --------------------------------------- be binding upon the Borrower and the Bank and their respective successors and assigns and shall inure to the benefit of the Borrower and the Bank and their respective permitted successors and assigns. The Borrower may not assign this letter agreement or any rights hereunder without the express written consent of the Bank. The Bank may, in accordance with applicable law, from time to time assign or grant participations in this letter agreement, any the Term Loans and/or any Loan or the Term NotesNote. Without limitation of the foregoing generality, (i) The Bank may at any time pledge all or any portion of its rights under the Loan Documents (including any portion of any the Term Note) to any of the 12 Federal Reserve Banks organized under Section 4 of the Federal Reserve Act, 12 U.S.

Appears in 1 contract

Sources: Term Loan Agreement (Diacrin Inc /De/)

Binding Effect; Assignment; Termination. This letter agreement shall --------------------------------------- be binding upon the Borrower and the Bank and their respective Borrower, its successors and assigns and shall inure to the benefit of the Borrower and the Bank and their respective permitted successors and assigns. The Borrower may not assign this letter agreement or any rights hereunder without the express written consent of the Bank. The Bank may, in accordance with applicable law, from time to time assign or grant participations participation in this letter agreement, any Term Loans the Revolving Loans, the Revolving Note and/or any Term Notesthe letters of credit issued hereunder. Without limitation of the foregoing generality,: (i) The Bank may at any time pledge all or any portion of its rights under the Loan Documents (including any portion of any Term the Revolving Note) to any of the 12 Federal Reserve Banks organized under Section 4 of the Federal Reserve Act, 12 U.S.

Appears in 1 contract

Sources: Revolving Loan Agreement (Palomar Medical Technologies Inc)