Common use of SUCCESSORS AND ASSIGNS IN GENERAL Clause in Contracts

SUCCESSORS AND ASSIGNS IN GENERAL. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns, except that the Company may not assign or transfer its rights hereunder or any interest herein or delegate its duties hereunder (other than in a merger or other combination of the type described in Section 4.01) without the prior written consent of the holders of the Notes. Each holder of the Notes may assign, pledge or transfer all or any portion of its Notes or its rights hereunder to the extent permitted by law, including state and federal securities laws. In the event of any such assignment, pledge or transfer, such assignee shall, to the extent provided in such assignment, pledge or transfer, be entitled to exercise the rights of the holder of a Note making such assignment, pledge or transfer and shall be deemed a holder of a Note under this Agreement.

Appears in 4 contracts

Sources: Junior Subordinated Note Agreement (Family Bargain Corp), Subordinated Note Agreement (Family Bargain Corp), Junior Subordinated Note Agreement (Family Bargain Corp)