Common use of Binding Effect; Borrower’s Assignment Clause in Contracts

Binding Effect; Borrower’s Assignment. This Agreement shall become effective when it shall have been executed by Borrower, Agent and by each Bank and thereafter shall be binding upon and inure to the benefit of Borrower, Agent and each of the Banks and their respective successors and assigns, except that Borrower shall not have the right to assign its rights hereunder or any interest herein without the prior written consent of Agent and all of the Banks.

Appears in 10 contracts

Sources: Credit Agreement (Nordson Corp), Credit Agreement (Davey Tree Expert Co), Credit Agreement (Standard Register Co)

Binding Effect; Borrower’s Assignment. This Agreement shall become effective when it shall have been executed by Borrower, Agent Agents and by each Bank and thereafter shall be binding upon and inure to the benefit of Borrower, Agent Agents and each of the Banks and their respective successors and assigns, except that Borrower shall not have the right to assign its rights hereunder or any interest herein without the prior written consent of Agent Agents and all of the Banks.

Appears in 3 contracts

Sources: Credit Agreement (Park Ohio Industries Inc/Oh), Credit Agreement (Park Ohio Industries Inc), Credit Agreement (Park Ohio Holdings Corp)

Binding Effect; Borrower’s Assignment. This Agreement shall become effective when it shall have been executed by Borrower, Agent and by each Bank and thereafter shall be binding upon and inure to the benefit of Borrower, Agent and each of the Banks and their respective successors and assigns, except that no Borrower shall not have the right to assign its rights hereunder or any interest herein without the prior written consent of Agent and all of the Banks.

Appears in 2 contracts

Sources: Credit Agreement (Amcast Industrial Corp), Credit Agreement (Amcast Industrial Corp)

Binding Effect; Borrower’s Assignment. This Agreement shall become effective when it shall have been executed by BorrowerBorrowers, Agent and by each Bank and thereafter shall be binding upon and inure to the benefit of BorrowerBorrowers, Agent and each of the Banks and their respective successors and assigns, except that Borrower Borrowers shall not have the right to assign its rights hereunder or any interest herein without the prior written consent of Agent and all of the Banks.

Appears in 1 contract

Sources: Credit and Security Agreement (Res Care Inc /Ky/)

Binding Effect; Borrower’s Assignment. This Agreement shall become effective when it shall have been executed by Borrower, Agent and by each Bank and thereafter shall be binding upon and inure to the benefit of Borrower, Agent and each of the Banks and their respective successors and assigns, except that Borrower shall not have the right to assign its rights hereunder or any interest herein (except for the assignment in connection with the Holding Company Reorganization) without the prior written consent of Agent and all of the Banks.

Appears in 1 contract

Sources: Credit Agreement (Oglebay Norton Co)

Binding Effect; Borrower’s Assignment. This Agreement shall become effective when it shall have been executed by BorrowerBorrower and Bank, Agent and by each Bank and thereafter shall be binding upon and inure to the benefit of Borrower, Agent Borrower and each of the Banks Bank and their respective successors and assigns, except that Borrower shall not have the right to assign its rights hereunder or any interest herein without the prior written consent of Agent and all of the BanksBank.

Appears in 1 contract

Sources: Credit and Security Agreement (Ctpartners Executive Search LLC)