Binding Effect; Several Agreements. This Agreement shall become effective as to any party to this Agreement when a counterpart hereof executed on behalf of such party shall have been delivered to the Collateral Agent and a counterpart hereof shall have been executed on behalf of the Collateral Agent, and thereafter shall be binding upon such party, the Applicable First Lien Agent and the Collateral Agent and their respective permitted successors and assigns, and shall inure to the benefit of such party, the Applicable First Lien Agent, the Collateral Agent and the other Secured Parties and their respective permitted successors and assigns, except that no party shall have the right to assign or transfer its rights or obligations hereunder or any interest herein or in the Collateral (and any such assignment or transfer shall be void) except as contemplated or permitted by this Agreement, the Indenture or any Other First Lien Agreement. This Agreement shall be construed as a separate agreement with respect to each party and may be amended, modified, supplemented, waived or released with respect to any party without the approval of any other party and without affecting the obligations of any other party hereunder.
Appears in 2 contracts
Sources: First Lien Collateral Agreement, First Lien Collateral Agreement (Momentive Performance Materials Inc.)
Binding Effect; Several Agreements. This Agreement shall become effective as to any party to this Agreement when a counterpart hereof executed on behalf of such party shall have been delivered to the Collateral Agent and a counterpart hereof shall have been executed on behalf of the Collateral Agent, and thereafter shall be binding upon such party, the Applicable First Lien Agent party and the Collateral Agent and their respective permitted successors and assigns, and shall inure to the benefit of such party, the Applicable First Lien Agent, the Collateral Agent and the other Secured Parties and their respective permitted successors and assigns, except that no party shall have the right to assign or transfer its rights or obligations hereunder or any interest herein or in the Collateral (and any such assignment or transfer shall be void) except as contemplated or permitted by this Agreement, Agreement or the Indenture or any Other First Lien AgreementIndenture. This Agreement shall be construed as a separate agreement with respect to each party and may be amended, modified, supplemented, waived or released with respect to any party without the approval of any other party and without affecting the obligations of any other party hereunder.
Appears in 2 contracts
Sources: Second Lien Collateral Agreement, Second Lien Collateral Agreement (Momentive Performance Materials Inc.)
Binding Effect; Several Agreements. This Agreement shall become effective as to any party to this Agreement when a counterpart hereof executed on behalf of such party shall have been delivered to the Collateral Agent and a counterpart hereof shall have been executed on behalf of the Collateral Agent, and thereafter shall be binding upon such party, the Applicable First Lien Agent party and the Collateral Agent and their respective permitted successors and assigns, and shall inure to the benefit of such party, the Applicable First Lien Agent, the Collateral Agent and the other Secured Parties and their respective permitted successors and assigns, except that no party shall have the right to assign or transfer its rights or obligations hereunder or any interest herein or in the Collateral (and any such assignment or transfer shall be void) except as expressly contemplated or permitted by this Agreement, Agreement or the Indenture or any Other First Lien Credit Agreement. This Agreement shall be construed as a separate agreement with respect to each party and may be amended, modified, supplemented, waived or released with respect to any party without the approval of any other party and without affecting the obligations of any other party hereunder.
Appears in 2 contracts
Sources: Collateral Agreement, Collateral Agreement (Momentive Specialty Chemicals Inc.)
Binding Effect; Several Agreements. This Agreement shall become effective as to any party to this Agreement when a counterpart hereof executed on behalf of such party shall have been delivered to the Collateral Agent and a counterpart hereof shall have been executed on behalf of the Collateral Agent, and thereafter shall be binding upon such party, the Applicable First Lien Agent party and the Collateral Agent and their respective permitted successors and assigns, and shall inure to the benefit of such party, the Applicable First Lien Agent, the Collateral Agent and the other Secured Parties and their respective permitted successors and assigns, except that no party shall have the right to assign or transfer its rights or obligations hereunder or any interest herein or in the Collateral (and any such assignment or transfer shall be void) except as expressly contemplated or permitted by this Agreement, the Indenture or any Other First Pari Passu Lien Agreement. This Agreement shall be construed as a separate agreement with respect to each party and may be amended, modified, supplemented, waived or released with respect to any party without the approval of any other party and without affecting the obligations of any other party hereunder.
Appears in 1 contract
Sources: Collateral Agreement (Hexion Inc.)
Binding Effect; Several Agreements. This Agreement shall become effective as to any party to this Agreement Loan Party when a counterpart hereof executed on behalf of such party Loan Party shall have been delivered to the Collateral Agent and a counterpart hereof shall have been executed on behalf of the Collateral Agent, and thereafter shall be binding upon such party, the Applicable First Lien Agent Loan Party and the Collateral Agent and their respective permitted successors and assigns, and shall inure to the benefit of such party, the Applicable First Lien AgentLoan Party, the Collateral Agent and the other Secured Parties and their respective permitted successors and assigns, except that no party Loan Party shall have the right to assign or transfer any of its rights or obligations hereunder or any interest herein or in the Collateral (and any such attempted assignment or transfer shall be null and void) except as expressly contemplated or permitted templated by this Agreement, Agreement or the Indenture or any Other First Lien Credit Agreement. This Agreement shall be construed as a separate agreement with respect to each party Loan Party and may be amended, modified, supplemented, waived or released with respect to any party Loan Party with the approval of such Loan Party and without the approval of any other party Loan Party and without affecting the obligations of any other party Loan Party hereunder.
Appears in 1 contract
Binding Effect; Several Agreements. This Agreement shall become effective as to any party to this Agreement when a counterpart hereof executed on behalf of such party shall have been delivered to the Collateral Agent and a counterpart hereof shall have been executed on behalf of the Collateral Agent, and thereafter shall be binding upon such party, the Applicable First Lien Agent and the Collateral Agent and their respective permitted successors and assigns, and shall inure to the benefit of such party, the Applicable First Lien Agent, the Collateral Agent and the other Secured Parties and their respective permitted successors and assigns, except that no party shall have the right to assign or transfer its rights or obligations hereunder or any interest herein or in the Collateral (and any such assignment or transfer shall be void) except as contemplated or permitted by this Agreement, the Indenture Indenture, the Credit Agreement or any Other First Lien Agreement. This Agreement shall be construed as a separate agreement with respect to each party and may be amended, modified, supplemented, waived or released with respect to any party without the approval of any other party and without affecting the obligations of any other party hereunder.
Appears in 1 contract
Sources: Collateral Agreement (Momentive Performance Materials Inc.)
Binding Effect; Several Agreements. This Agreement shall become effective as to any party to this Agreement when a counterpart hereof executed on behalf of such party shall have been delivered to the Collateral Agent and a counterpart hereof shall have been executed on behalf of the Collateral Agent, and thereafter shall be binding upon such party, the Applicable First Lien Agent and the Collateral Agent and their respective permitted successors and assigns, and shall inure to the benefit of such party, the Applicable First Lien Agent, the Collateral Agent and the other Secured Parties and their respective permitted successors and assigns, except that no party shall have the right to assign or transfer its rights or obligations hereunder or any interest herein or in the Collateral (and any such assignment or transfer shall be void) except as expressly contemplated or permitted by this Agreement, the Indenture or any Other First Lien Priority Agreement. This Agreement shall be construed as a separate agreement with respect to each party and may be amended, modified, supplemented, waived or released with respect to any party without the approval of any other party and without affecting the obligations of any other party hereunder.
Appears in 1 contract
Sources: Collateral Agreement (Momentive Specialty Chemicals Inc.)