Common use of Binding Effect; Participations Clause in Contracts

Binding Effect; Participations. All covenants, representations, warranties and other stipulations in this Agreement and other documents referred to herein, given by or on behalf of any of the parties hereto, shall bind and inure to the benefit of the respective successors, heirs, personal representatives and assigns of the parties hereto, except that the Borrower may not assign or transfer any of its rights or obligations under this Agreement or any of the other Bridge Loan Documents without the prior written consent of the Lenders. This Agreement, the Bridge Notes, and any of the other Bridge Loan Documents may be endorsed, assigned and transferred in whole or part by the Lenders to any other Person; PROVIDED that (a) any transfer of the Warrant shall be subject to the limitations set forth therein, (b) unless an Event of Default has occurred and is continuing, the Borrower shall have the right to approve any assignment of a Bridge Note to a new Lender (such approval not to be unreasonably withheld or delayed), (c) unless an Event of Default has occurred and is continuing, the Lenders shall use commercially reasonable efforts to limit the aggregate amount of Lenders to six (6) (excluding Affiliates of Lenders for purposes of this calculation) and (d) any such assignee agrees in writing to be bound by the provisions of this Agreement. The Lenders may grant participations in the Bridge Notes, this Agreement and the other Bridge Loan Documents (or any portion thereof). The Lenders shall notify the Borrower and the Agent in writing of any such endorsement, assignment or transfer by the Lenders.