Common use of Binding Effect and Assignment Clause in Contracts

Binding Effect and Assignment. This Agreement (i) creates a continuing security interest in the Collateral, (ii) shall be binding on Debtor and the heirs, executors, administrators, personal representatives, successors and assigns of Debtor, and (iii) shall inure to the benefit of Secured Party and its successors and assigns. Without limiting the generality of the foregoing, Secured Party may pledge, assign or otherwise transfer the Indebtedness and its rights under this Agreement and any of the other Loan Documents to any other party. Debtor's rights and obligations hereunder may not be assigned or otherwise transferred without the prior written consent of Secured Party.

Appears in 13 contracts

Sources: Credit and Security Agreement (Isecuretrac Corp), Security Agreement (Mitcham Industries Inc), Advancing Term Credit Agreement (San Juan Partners LLC)

Binding Effect and Assignment. This Agreement (i) creates a continuing security interest in the Collateral, (ii) shall be binding on Debtor Pledgor and the heirs, executors, administrators, personal representatives, successors and assigns of DebtorPledgor, and (iii) shall inure to the benefit of Secured Party and its successors and assigns. Without limiting the generality of the foregoing, Secured Party may pledge, assign or otherwise transfer the Indebtedness and its rights under this Agreement and any of the other Loan Documents to any other party. DebtorPledgor's rights and obligations hereunder may not be assigned or otherwise transferred without the prior written consent of Secured Party.

Appears in 10 contracts

Sources: Pledge Agreement (Asd Systems Inc), Warehouse Loan Agreement (Homecapital Investment Corp), Advancing Term Credit Agreement (San Juan Partners LLC)

Binding Effect and Assignment. This Agreement (i) creates a continuing security interest in the Collateral, (ii) shall be binding on Debtor and the heirs, executors, administrators, personal representatives, successors and assigns of Debtor, and (iii) shall inure to the benefit of Secured Party and its successors and assigns. Without limiting the generality of the foregoing, Secured Party may pledge, assign or otherwise transfer the Indebtedness and its rights under this Agreement and any of the other Loan Documents to any other party. Debtor's ’s rights and obligations hereunder may not be assigned or otherwise transferred without the prior written consent of Secured Party.

Appears in 8 contracts

Sources: Unit Pledge Agreement (Desert Capital Reit Inc), Pledge and Security Agreement (Equus Ii Inc), Security Agreement (Us Home Systems Inc)

Binding Effect and Assignment. This Agreement (i) creates a continuing security interest in the Collateral, (ii) shall be binding on Debtor and the heirs, executors, administrators, personal representatives, successors and assigns of Debtor, and (iii) shall inure to the benefit of Secured Party and its successors and assigns. Without limiting the generality of the foregoing, Secured Party may pledge, assign or otherwise transfer the Indebtedness and its rights under this Agreement and any of the other Loan Financing Documents to any other party. Debtor's rights and obligations hereunder may not be assigned or otherwise transferred without the prior written consent of Secured Party.

Appears in 2 contracts

Sources: Security Agreement (Karts International Inc), Note Purchase Agreement (Obsidian Enterprises Inc)

Binding Effect and Assignment. This Agreement (i) creates a continuing ----------------------------- security interest in the Collateral, (ii) shall be binding on Debtor and the heirs, executors, administrators, personal representatives, successors and assigns of Debtor, and (iii) shall inure to the benefit of Secured Party and its successors and assigns. Without limiting the generality of the foregoing, Secured Party may pledge, assign or otherwise transfer the Indebtedness indebtedness and its rights under this Agreement and any of the other Loan Documents to any other party. Debtor's rights and obligations hereunder may not be assigned or otherwise transferred without the prior written consent of Secured Party.

Appears in 1 contract

Sources: Security Agreement (Us Home Systems Inc /Tx)

Binding Effect and Assignment. This Agreement (i) creates a continuing security interest in the Collateral, (ii) shall be binding on Debtor Grantor and the heirs, executors, administrators, personal representatives, successors and assigns of DebtorGrantor, and (iii) shall inure to the benefit of Secured Party and its permitted successors and assigns. Without limiting the generality of the foregoing, Secured Party may pledge, assign or otherwise transfer the Indebtedness and its rights under this Agreement and any of the other Loan Documents to any other party. Debtor's ▇▇▇▇▇▇▇’s rights and obligations hereunder may not be assigned or otherwise transferred without the prior written consent of Secured Party.

Appears in 1 contract

Sources: Pledge and Security Agreement (BoltRock Holdings LLC)

Binding Effect and Assignment. This Agreement shall: (i) creates a continuing security interest in the Collateral, (ii) shall be binding on Debtor and the heirs, executors, administrators, personal representatives, successors and assigns of Debtor, and (iiiii) shall inure to the benefit of Secured Party and its successors and assigns. Without limiting the generality of the foregoing, Secured Party may pledge, assign or otherwise transfer the Indebtedness and its rights under this Agreement and any of the other Loan Documents to any other party. Debtor's ’s rights and obligations hereunder may not be assigned or otherwise transferred without the prior written consent of Secured Party.

Appears in 1 contract

Sources: Security Agreement (Lm Funding America, Inc.)

Binding Effect and Assignment. This Agreement (i) creates a continuing security interest in the Collateral, (ii) shall be binding on Debtor Pledgor and the heirs, executors, administrators, personal representatives, successors and assigns of DebtorPledgor, and (iii) shall inure to the benefit of Secured Party and its successors and assigns. Without limiting the generality of the foregoing, Secured Party may pledge, assign or otherwise transfer the Indebtedness and its rights under this Agreement and any of the other Loan Documents to any other party. DebtorPledgor's rights and obligations hereunder may not be assigned or otherwise transferred without the prior written consent of Secured Party.. 67233.2 [August 9, 2001]

Appears in 1 contract

Sources: Commercial Security Agreement (United Heritage Corp)

Binding Effect and Assignment. This Agreement (i) creates a continuing security interest in the Collateral, (ii) shall be binding on Debtor Pledgor and the heirs, executors, administrators, personal representatives, successors and assigns of DebtorPledgor, and (iii) shall inure to the benefit of Secured Party and its successors and assigns. Without limiting the generality of the foregoing, Secured Party may pledge, assign or otherwise transfer the Indebtedness Obligations and its rights under this Agreement and any of the other Loan Documents to any other party. DebtorPledgor's rights and obligations hereunder may not be assigned or otherwise transferred without the prior written consent of Secured Party.

Appears in 1 contract

Sources: Pledge Agreement (Isramco Inc)

Binding Effect and Assignment. This Agreement (i) creates a continuing security interest in the Collateral, (ii) shall be binding on Debtor Borrower and the heirs, executors, administrators, personal representatives, successors and assigns of DebtorBorrower, and (iii) shall inure to the benefit of Secured Party and its successors and assigns. Without limiting the generality of the foregoing, Secured Party may pledge, assign or otherwise transfer the Indebtedness and its rights under this Agreement and any of the other Loan Documents to any other party. DebtorBorrower's rights and obligations hereunder may not be assigned or otherwise transferred without the prior written consent of Secured Party.

Appears in 1 contract

Sources: Security Agreement (Canmax Inc /Wy/)

Binding Effect and Assignment. This Agreement (i) creates a continuing security interest in the Collateral, (ii) shall be binding on Debtor and the heirs, executors, administrators, personal representatives, successors and assigns of Debtor, and (iii) shall inure to the benefit of Secured Party and its successors and assigns. Without limiting the generality of the foregoing, Secured Party may pledge, assign or otherwise transfer the Indebtedness and its rights under this Agreement and any of the other Loan Financing Documents to any other party. Debtor▇▇▇▇▇▇'s rights and obligations hereunder may not be assigned or otherwise transferred without the prior written consent of Secured Party.

Appears in 1 contract

Sources: Guaranty (Red Oak Hereford Farms Inc)

Binding Effect and Assignment. This Agreement (i) creates a continuing security interest in the Collateral, (ii) shall be binding on Debtor and the heirs, executors, administrators, personal representatives, successors and assigns of Debtor, and (iii) shall inure to the benefit of Secured Party and its successors and assigns. Without limiting the generality of the foregoing, except as otherwise provided in the Intercreditor Agreement Secured Party and the Lenders may pledge, assign or otherwise transfer the Indebtedness and its rights under this Agreement and any of the other Loan Documents to any other party. Debtor's ’s rights and obligations hereunder may not be assigned or otherwise transferred without the prior written consent of Secured Party.

Appears in 1 contract

Sources: Pledge and Security Agreement (Palm Harbor Homes Inc /Fl/)

Binding Effect and Assignment. This Agreement Collateral Assignment (i) creates a continuing security interest in the Collateral, (ii) shall be binding on Debtor and the heirs, executors, administrators, personal representatives, successors and assigns of Debtor, and (iii) shall inure to the benefit of Secured Party and its successors and assigns. Without limiting the generality of the foregoing, Secured Party may pledge, assign or otherwise transfer the Indebtedness Obligations and its rights under this Agreement Collateral Assignment and any of the other Loan Documents to any other party. Debtor's rights and obligations hereunder may not be assigned or otherwise transferred without the prior written consent of Secured Party.

Appears in 1 contract

Sources: Collateral Assignment of Note and Liens (Moody National REIT I, Inc.)

Binding Effect and Assignment. This Agreement (i) creates a continuing security interest in the Collateral, (ii) shall be binding on Debtor and the heirs, executors, administrators, personal representatives, successors and assigns of Debtor, and (iii) shall inure to the benefit of Secured Party and its successors and assigns. Without limiting the generality of the foregoing, Secured Party may pledge, assign or otherwise transfer the Indebtedness and its rights under this Agreement and any of the other Loan Transaction Documents to any other party. Debtor's ’s rights and obligations hereunder may not be assigned or otherwise transferred without the prior written consent of Secured Party.

Appears in 1 contract

Sources: Security Agreement (Edible Garden AG Inc)

Binding Effect and Assignment. This Agreement shall: (i) creates a continuing security interest in the Collateral, (ii) shall be binding on Debtor and the heirs, executors, administrators, personal representatives, successors and assigns of Debtor, and (iiiii) shall inure to the benefit of Secured Party and its successors and assigns. Without limiting the generality of the foregoing, Secured Party may pledge, assign or otherwise transfer the Indebtedness and its rights under this Agreement and any of the other Loan Documents to any other party. Debtor's ▇▇▇▇▇▇’s rights and obligations hereunder may not be assigned or otherwise transferred without the prior written consent of Secured Party.

Appears in 1 contract

Sources: Security Agreement (Lm Funding America, Inc.)

Binding Effect and Assignment. This Agreement (i) creates a continuing security interest in the Collateral, (ii) shall be binding on Debtor Grantor and the heirs, executors, administrators, personal representatives, successors and assigns of DebtorGrantor, and (iii) shall inure to the benefit of Secured Party and its successors and assigns. Without limiting the generality of the foregoing, Secured Party may pledge, assign or otherwise transfer the Indebtedness and its rights under this Agreement and any of the other Loan Documents to any other party. Debtor's Grantor’s rights and obligations hereunder may not be assigned or otherwise transferred without the prior written consent of Secured Party.

Appears in 1 contract

Sources: Credit Agreement (Hallmark Financial Services Inc)

Binding Effect and Assignment. This Agreement (i) creates a continuing security interest in the Collateral, (ii) shall be binding on Debtor and the heirs, executors, administrators, personal representatives, successors and assigns of Debtor, and (iii) shall inure to the benefit of Secured Party and its successors and assigns. Without limiting the generality of the foregoing, Secured Party may pledge, assign or otherwise transfer the Indebtedness and its rights under this Agreement and any of the other Loan Documents to any other partyparty in accordance with the Loan Agreement. Debtor's rights and obligations hereunder may not be assigned or otherwise transferred without the prior written consent of Secured Party.

Appears in 1 contract

Sources: Security Agreement (Ascendant Solutions Inc)

Binding Effect and Assignment. This Agreement (i) creates a continuing security interest in the Collateral, (ii) shall be binding on Debtor and the heirs, executors, administrators, personal representatives, successors and assigns of Debtor, and (iii) shall inure to the benefit of Secured Party and its successors and assigns. Without limiting the generality of the foregoing, Secured Party may pledge, assign or otherwise transfer the Indebtedness and its rights under this Agreement and any of the other Loan Documents to any other party. Debtor's rights and obligations hereunder may not be assigned or otherwise transferred without the prior written consent of Secured Party.

Appears in 1 contract

Sources: Security Agreement (Global Casinos Inc)

Binding Effect and Assignment. This Agreement (i) creates a continuing security interest in the Collateral, (ii) shall be binding on Debtor Pledgor and the heirs, executors, administrators, personal representatives, successors and assigns of DebtorPledgor, and (iii) shall inure to the benefit of Secured Party and its successors and assigns. Without limiting the generality of the foregoing, Secured Party may pledge, assign or otherwise transfer the Indebtedness and its rights under this Agreement and any of the other Loan Documents to any other party. DebtorPledgor's rights and obligations hereunder may not be assigned or otherwise transferred without the prior written consent of Secured Party.

Appears in 1 contract

Sources: Loan and Security Agreement (Green Power Energy Holdings Corp)

Binding Effect and Assignment. This Agreement (i) creates a ----------------------------- continuing security interest in the Collateral, (ii) shall be binding on Debtor and the heirs, executors, administrators, personal representatives, successors and assigns of Debtor, and (iii) shall inure to the benefit of Secured Party and its successors and assigns. Without limiting the generality of the foregoing, Secured Party may pledge, assign or otherwise transfer the Indebtedness and its rights under this Agreement and any of the other Loan Documents to any other party. Debtor's rights and obligations hereunder may not be assigned or otherwise transferred without the prior written consent of Secured Party.

Appears in 1 contract

Sources: Credit Agreement (Data Return Corp)

Binding Effect and Assignment. This Agreement (i) creates a continuing security interest in the Collateral, (ii) shall be binding on Debtor Pledgor and the heirs, executors, administrators, personal representatives, its successors and assigns of Debtorassigns, and (iii) shall inure to the benefit of Secured Party and its his heirs, executors, administrators, personal representatives, successors and assigns. Without limiting the generality of the foregoing, Secured Party may shall not pledge, assign or otherwise transfer the Indebtedness and its his rights under this Agreement and any of the other Loan Documents to any other partyparty without the prior written consent of Pledgor. Debtor's Pledgor’s rights and obligations hereunder may shall not be assigned or otherwise transferred without the prior written consent of Secured Party.

Appears in 1 contract

Sources: Stock Pledge Agreement (Us Home Systems Inc /Tx)

Binding Effect and Assignment. This Agreement (i) creates a continuing security interest in the Collateral, (ii) shall be binding on Debtor Grantor and the heirs, executors, administrators, personal representatives, successors and assigns of DebtorGrantor, and (iii) shall inure to the benefit of Secured Party and its permitted successors and assigns. Without limiting the generality of the foregoing, Secured Party may pledge, assign or otherwise transfer the Indebtedness and its rights under this Agreement and any of the other Loan Documents to any other party. Debtor's Gr▇▇▇▇▇’▇ rights and obligations hereunder may not be assigned or otherwise transferred without the prior written consent of Secured Party.

Appears in 1 contract

Sources: Pledge and Security Agreement (General Enterprise Ventures, Inc.)